IQUW Launches Ports & Terminals Product

IQUW, the London-based specialty insurer and reinsurer, has launched its new ports and terminals product, reinforcing its position as a lead market for marine insurance.

Under the leadership of Ali Welchman, an expert in the Ports and Terminals class, the product helps brokers and clients manage their risks with coverage for physical loss or damage to marine property and cargo handling equipment, business interruption and third-party liabilities.

The offering is aligned to IQUW’s commitment to intelligent underwriting, seamlessly integrating data-driven insights, automation and expert analysis to deliver rapid responses, an initial view of risk and alternative risk perspectives.

Welchman will focus on building a global ports and terminals book, bringing a decade of experience in the sector having previously served as senior underwriter for transport and logistics at Markel International. Based in London, Welchman reports to Phil Furlong, deputy active underwriter, head of Marine, Energy, and Aviation.

“Our new ports and terminals product underscores IQUW’s ambition to be a lead market across Marine and Energy classes,” said Furlong.

“The ports and terminals market is rapidly changing, influenced by a combination of technological innovation with a push towards automation, the impact of climate change and evolving geo-political trading landscapes,” commented Welchman.

The introduction of Ports and Terminals follows a series of strategic moves by IQUW to enhance its marine and energy capabilities, including three other senior hires within IQUW’s marine and energy team: Darren Stewart as head of Marine, Energy, and Aviation Claims; Chris Touhey as senior underwriter, Energy; and Darryl Krobel as marine, energy, and aviation engineer.

About IQUW

IQUW’s products are distributed through Lloyd’s Syndicate 1856 covering aviation, cyber, cargo, crisis management, marine, credit & political risk, energy, property, D&O, financial institutions, political violence, terror, and war insurance risks, as well as reinsurance for property treaty international & US and specialty.

Source: IQUW

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