Michael Else & Company, manager of the Charterers P&I Club and Transmarine, has launched a new product to provide innovative insurance solutions worldwide for small and medium-sized multimodal transport operators and shipping intermediaries such as freight forwarders, non-vessel operating common carriers and ship agents.
The new product, Portside Insurance Management Services operates as a brand within Michael Else & Company’s existing structure and the security is provided 100% by Torus Insurance (UK) Ltd, rated A M Best A- (Excellent).
Christopher Else, Managing Director of Michael Else & Company, said: “We are excited to be launching a new product that fits so well with our existing brands and which will immediately benefit from our established network of clients, brokers and suppliers. We are also delighted to be developing a relationship with Torus Insurance (UK), which is rapidly establishing itself as an important global player in the international marine insurance market. We have come a long way since our foundation in 1974 and earlier this year celebrated the 25th anniversary of the Charterers P&I Club.”
Alexander Brewster, a respected underwriter in this sector, has been appointed as the Class Underwriter for Portside. He said: “We are pleased to have the opportunity to develop Portside and are confident that, with the existing resources and networks available through Michael Else & Company, Portside will be a success.
Demian Smith, Global Head of Marine at Torus Insurance UK, said: “We welcome the opportunity to work with Michael Else & Company in the development of this new product. Portside is very focused on the small to medium size operators in this sector because it is clear that there is a lack of high quality, well-managed insurance products on offer to them.”