A new Liability product bundle for Wharfingers has been announced by specialist Marine Insurance brokers IRCM. In addition to insuring their legal liability, the product bundle offers further benefits to of Wharf Operators.

Mark Elcocks, Specialist Risks Executive with IRCM said “Wharfingers can boost their cover with Excess Protection. Basically it provides a pot of money which will cover the excess on their main liability policy”.  Liability excesses typically start at £500 but can be much higher.  Mark went on to say “Because a business has to pay its policy excess in the event of a claim, the excess protection serves to insure the business’ bottom line.  It could save a wharf operator up to £2,500 per year with annual premiums starting from only £69.96”.

Wharf operators can further protect their bottom line by opting for the Crime Extension on IRCM’s preferred Directors & Officers (D&O) Liability offering.  The extension provides protection for the business in the event of theft from employees (cover that is excluded on a standard property policy).  This cover has already benefitted businesses that have suffered sizeable losses due to thefts of money and stock by employees.  The D&O cover recommended by IRCM protects the assets of the business as well as the directors and offers additional benefits covering Employment Practices Liability and Pollution.