Inland Marine Data Points
For many years, inland marine has been one of the more profitable lines of property casualty insurance. In the last decade, direct written premium in the line has almost doubled. Industry analysts forecast that the inland marine line will remain profitable in the coming years, with strong premium growth expected in 2020. The industry benefits from positive developments in both the construction and transportation industries. While some analysts feel construction spending will remain relatively flat this year, the overall activity in this space is still seen as a positive, ultimately boosting the exposure base for products like Builder’s Risk and Contractor’s Equipment. Last year ended with positive news around new orders for manufactured goods. As some economists indicate, a rise in factory orders implies that more goods will ultimately need to be transported, positively impacting motor truck cargo.
Great American’s Property & Inland Marine Division has responded to this growth by providing technical solutions to increase efficiency and ease of doing business for our agents. We specialize in providing solutions for Builder’s Risk, Contractor’s Equipment and Motor Truck Cargo. We provide a wide range of flexible endorsement options and customizable policies to fit each unique need for commercial inland marine. At Great American Property & Inland Marine, we pride ourselves on our dedicated claims service and specialized expertise focused only on property and marine coverage. So, you get the solutions you need from the people you trust.
For additional information on what Property & Inland Marine offers check out the materials listed below, or visit GAIG.com/PIM. If you have any questions, contact your local Property & Inland Marine representative.