Re/insurer IQUW has introduced its new Ports and Terminals insurance product, offering coverage for physical loss or damage to marine property, cargo handling equipment, business interruption, and third-party liabilities.
It aligns with IQUW’s “intelligent underwriting” pledge, using data insights, automation, and analysis for initial risk assessments and alternative perspectives.
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The Ports and Terminals insurance initiative is being spearheaded by Ali Welchman, who has more than ten years of experience in the sector.
Operating out of London, Welchman has been tasked with developing a global Ports and Terminals book.
Previously, he was a senior underwriter for transport and logistics at Markel International.
Welchman will report to Phil Furlong, deputy active underwriter, head of Marine, Energy, and Aviation at IQUW.
Furlong said: “Our new Ports and Terminals product underscores IQUW’s ambition to be a lead market across Marine and Energy classes. Ali’s appointment follows several senior additions to the Marine, Energy and Aviation team that reinforces our market-leading capabilities.”
Welchman added: “The Ports and Terminals market is rapidly changing, influenced by acombination of technological innovation with a push towards automation, the impact of climate change and evolving geo-political trading landscapes. I’m thrilled to join the IQUW team to develop a new product that will meet these freshdemands and support our brokers and insureds.”
This follows the recruitment of three other senior professionals within the marine and energy team – Darren Stewart as head of marine, energy, and aviation claims; Chris Touhey as senior underwriter for Energy; and Darryl Krobel as marine, energy, and aviation engineer.
IQUW’s portfolio comprise property and specialty insurance and reinsurance products. It includes directors and officers, aviation, crisis management, cyber, energy, and marine.
