Aspen Insurance enters marine partnership with US Risk

Aspen American Insurance Company, a subsidiary of Bermuda-based Aspen Insurance Holdings, has formed a strategic alliance with US Risk to offer a specialty insurance product for the marine industry in the US.

Headquartered in Dallas, Texas, US Risk is a international specialty lines underwriting manager and wholesale broker.

Through the partnership, the companies will provide a comprehensive coverage for vessel-assist towboat operators, pilot vessel operators, sightseeing and dinner cruise charterers, passenger ferries and water taxis. The coverage will be available on an admitted basis across all 50 states in the US.

"This partnership allows us to jointly offer a custom marine insurance solution for this particular segment of business," said Patrick Hickey, executive vice president and head of US marine at Aspen Insurance. "We believe that the combination of Aspen Insurance's product offering and US Risk's scale and excellent customer service will be well received in the market."

Randall Goss, CEO of US Risk, said: "We are excited to announce our partnership with Aspen Insurance, and to introduce a marine product with unique enhancements and an innovative policy form to meet our customers’ needs."

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