Addept launches marine legal protection insurance

Addept Insurance Services  has launched Waypoint, a marine legal protection product designed for boat owners at a time of shrinking cover and capacity in the marine LEI market.

Capacity is being provided by Irwell Insurance, while distribution includes schemes with Insurance-4-Boats.co.uk, Admiral Marine, Everard Specialist Marine (part of James Hallam), and Topsail Marine, which will also offer a wholesale facility for brokers with smaller books of marine business.

“The marine LEI market has seen a narrowing of cover and capacity options which has meant brokers have found it harder to access appropriate cover. Waypoint addresses this move to ‘vanilla’ products by building solutions that address the needs of specific marine risk profiles including providing wholesale facilities to brokers with smaller books of marine business who cannot access products currently. We have seen a positive response from brokers to our approach and the cover offered by Waypoint and have secured schemes with a number of distribution partners.” – Richard Finan, Managing Director of Addept Insurance.