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Banyan Risk launches US Inland Marine and Marine Property product line
The new coverage will be available in all 50 US states and territories on both admitted and non-admitted bases.
Specialist managing general agent Banyan Risk has launched a new US Inland Marine & Marine Property product line, with capacity provided by program partner Accredited Insurance Limited, Reinsurance News reports.
The offering targets four core segments, including construction and infrastructure risks such as contractors' equipment and builders' risk, as well as logistics, transportation, transit and shipping business covering motor truck cargo, trip transit and owners' cargo.
Banyan also said the coverage will extend to mobile property and specialty floaters and inland marine supporting property, with availability starting immediately across all 50 US states and territories on an admitted and non-admitted basis.
Banyan Risk said the move follows earlier launches for its Digital Assets and Emerging Risks product and a healthcare professional liability line, and it named Darren Hamman as chief underwriting officer for property and inland marine to lead portfolio development and underwriting for new and renewal business.