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Acies MGU launches TEDmar International for ports and terminals insurance
TEDmar International, an MGA focused on ports and terminals, can offer limits of up to $25 million for liability and property damage coverage.
Acies MGU has expanded into marine insurance with the launch of TEDmar International, a managing general agent dedicated to the ports and terminals market, according to Reinsurance News. The move is positioned as a first step in building a presence in marine insurance for port authorities and operators.
TEDmar will be led by Mark Trevitt, appointed Managing Director, and Charlie Newman, joining as Director of Underwriting. Trevitt brings more than 35 years of marine underwriting experience focused on ports and terminals risks, while Newman has more than a decade of similar underwriting experience, the outlet said.
The company says TEDmar’s offering is backed by a consortium providing Lloyd’s capacity and is designed to cover multiple risk types. Coverage includes liability, property, equipment and operational risks, covering assets such as warehouses, buildings, hard standings, cargo handling equipment including forklifts and gantry cranes, and port craft such as pilot cutters, Reinsurance News reported.
TEDmar can provide limits of up to $25 million for both liability and property damage, with additional protection for business interruption and other operational assets essential to day to day port and terminals operations. The article also said TEDmar is built around a disciplined, individually underwritten approach for the market.