Fidelis Group Holdings LLC Announces Additional Excess Marine
Liability Capacity For The Maritime Industry
COVINGTON, La., Nov. 12, 2012 /PRNewswire/ -- Fidelis Group
Holdings LLC (FGH) through its subsidiary company Continental
Underwriters, Ltd., a leader in providing Marine Insurance
coverages and services, announced today details of their new
$25,000,000 Excess Marine Liability
facility for the maritime industry. The insurer for the
program is Houston Casualty Company (NYSE:HCC) rated A+ by A.M.
Best. The program is designed to write excess marine
liability insurance including Bumbershoot Liability excess of
acceptable underlying insurers.
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"The addition of this new excess marine liability facility will
further expand FGH's marine insurance capabilities by providing to
the market responsible excess capacity underwriting with excellent
security," explained H. Elder Brown,
Jr., President and CEO of FGH. "As Continental continues to
implement its strategy for growth throughout the maritime industry,
we feel the addition of this class of business is timely given the
need for serious market capacity with the very best market
security," Brown noted.
Joseph Morency has been named
senior manager of this new FGH division and will oversee the
program. Morency has vast experience underwriting and
managing excess marine liabilities over his more than twenty years
as a marine insurance underwriter. He will operate from the
company's Melville, New York
offices.
"Having someone of the caliber of senior executive Joe Morency overseeing this program will ensure
the highest degree of management for our company and our
underwriting partners," Brown said. "Mr. Morency is a respected
market leader with a tremendous wealth of underwriting knowledge
and talent," Brown added.
Headquartered in Louisiana,
Fidelis Group Holdings, LLC is a leading provider of primary and
excess marine insurance for physical damage and liability (P&I)
coverages for vessel owner's, ship builders, terminal operators,
fleet operators, stevedore's, cargo handlers, inland marine, as
well as, coverage for marine contractors. Insurance can be
arranged worldwide through FGH's various Fidelis
subsidiaries. FGH provides underwriting, broker services,
claims management and loss control assistance for the maritime
community. Continental also represents a number of other
highly rated marine insurers. The company has offices in
New Orleans and Covington, LA, Knoxville, TN, and Melville, NY. Visit us online at
www.cultd.com
Contact: H. Elder Brown III
985-898-5300 | ebrowniii@cultd.com
SOURCE Fidelis Group Holdings LLC; Continental Underwriters,
Ltd.