IQUW Enhances Marine Insurance Offerings
Specialty and property re/insurer IQUW has unveiled a new Ports and Terminals product, marking a significant expansion in its Marine insurance portfolio and further solidifying its market presence. The initiative is led by Ali Welchman, an industry expert with a decade of experience in the Ports and Terminals sector.
The product is designed to assist brokers and clients in managing risks effectively, providing coverage for physical loss, damage to marine property and cargo handling equipment, business interruption, and third-party liabilities.
Based in London, Welchman will report to Phil Furlong, Deputy Active Underwriter, Head of Marine, Energy, and Aviation, and will spearhead efforts to align the product with IQUW’s strategy of driving intelligent underwriting. This strategy integrates data-driven insights, automation, and expert analysis to deliver rapid responses, an initial risk assessment, and alternative perspectives on risk.
Strategic Expansion in Marine and Energy
This latest product launch is part of a broader strategy by IQUW to bolster its Marine and Energy capabilities. Recently, the company has made strategic hires to enhance its team, including 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.
Phil Furlong emphasized IQUW’s ambition to become a leading market player in the Marine and Energy sectors, stating, “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 reinforce our market-leading capabilities.”
Welchman expressed enthusiasm about the new role, highlighting the rapidly evolving Ports and Terminals market driven by technological innovation, climate change, and geo-political shifts. He remarked, “I’m thrilled to join the IQUW team to develop a new product that will meet these fresh demands and support our brokers and insureds.”
