Underwriters Marine Services

Underwriters Marine Services, Inc. (UMS) has been providing innovative solutions and unique insurance coverages to the marine market for 25 consecutive years. The company offers agents and brokers first class security, long-term stability, unsurpassed capacity and responsive service with a value-added approach to its many insurance programs, which... explains why the client list includes major marine operators and Fortune 1000 companies. Marine risks are what are referred to in the business as high risk/high frequency risks. Marine premiums can be quite high,the average premium per account is about $100,000 annually with some accounts paying millions per year. However, losses can also be catastrophic and frequent thus requiring a unique set of problem-solving skills and business savvy. UMS has a staff of 20 experienced marine underwriters, loss prevention and claims personnel who are dedicated and highly specialized, focusing solely on the marine industry. Of the eight underwriters, all have 20 to 35 years of experience in the field. In addition, UMS has on staff an admiralty attorney,an attorney specializing in maritime law,and a well-known safety expert with over 30 years in the brown water commercial marine industry. "In marine underwriting, most accounts have losses. The only variable is how many and how large," says Gregory Sterck, president of UMS. "We do our best to ensure that we can keep a bad situation from getting worse. That requires expert staff, people who and understand the marine business."Read More