Brit Limited has launched a new Lloyd's consortium for yachts.
The company said in a statement that the consortium will have capacity of $250 million and will offer to insure motor and sailing vessels valued at over $10 million. The consortium will offer worldwide coverage.
Anthony Forsyth, divisional director at Brit Global Specialty, said, “We are pleased to have Brit launch and lead this new yacht consortium, which will further strengthen our leading marine offering. By combining Brit's ability to deliver innovative solutions with a tailored approach to each policy, we are confident this consortium builds on our focus for delivering service. Furthermore, our global network of surveyors and claims professionals will enable us to give immediate and local solutions to clients in the event of a claim.”
Matthew Wilson, the chief executive officer of the Brit Group, commented, “Marine is a key line for Brit and I'm delighted that we have been able to further enhance our client offering in the space through the launch of this consortium. Not only does this deliver on our strategy to build our presence in markets where we believe Brit brings a compelling proposition, but it also underscores our commitment to creating appealing client solutions through innovation in specialty areas where we already bring considerable expertise.”
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].