The St. Paul has introduced an enhanced Marine General Liability insurance policy which is suitable for marinas, stevedores, terminal operators, and ship repairers in the U.S. and Canada.
“We’ve updated the coverages to reflect today’s industry needs, and now provide a separate $1-million limit for defense costs, something we believe gives us a competitive advantage. We’ve also simplified wordings to make the coverage intent very clear,” said Linda Bonet, assistant vice president-Global Marine.
The St. Paul’s Marine General Liability (MGL) product covers traditional GL exposures, including bodily injury and property damage, personal and advertising injury liability, medical payments, and fire legal liability coverage. Buyers traditionally look for this coverage to protect them against property damage to watercraft owned by another party while it is in the insured’s custody or control. Coverage limits range up to $1 million and deductibles are flexible. Excess coverage is also available.
The St. Paul’s new MGL policy now features definitions, conditions and exclusions to provide a better understanding of the coverage features. The new policies became effective July 1, 2001, for renewal policies, and June 1, 2001, for new business.
Was this article valuable?
Here are more articles you may enjoy.
Carnival Cruise Passenger Served 14 Shots Awarded $300,000 After Fall Down Stairs 
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing 
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
