Inland marine

Largest Living Insect Heist Sparks Risk Conversation for Museums

When thieves stole 7,000 rare insects, snakes and reptiles from a Philadelphia museum in August, they forced the closure of two entire floors of the museum while it tried to replenish its $40,000 collection. Museum officials called the theft of zebra tarantulas, rhinoceros roaches and other exotic creatures the “largest living insect heist” in history….

5 Considerations When Securing Inland Marine Coverage

The Ins and outs of Inland Marine Insurance Safely and efficiently transporting, shipping and storing commercial cargo is a complicated business. Unforeseen perils can cause significant damage to equipment or products in your client’s possession, creating a host of legal liabilities. It is no surprise then that Inland Marine coverage has emerged as a vital…

Policies Must Keep Pace with Investments

Alternative investment categories continue to be popular among high-net-worth investors who are already well-diversified in their traditional financial portfolios and are now seeking long term appreciation for tangible assets. As a result, interest in jewelry and fine art collection has grown steadily in recent years and savvy collectors have been able to realize greater returns…

Understanding Contractors’ Mobile Plant and Equipment Coverage

A Conversation with Robert Hubbard, Director, Lochain Patrick Insurance Brokers Over the last 10 years, Lochain Patrick, one of the world’s leading specialty marine and energy brokers, has applied its expertise in developing an exclusive product that protects contractors and their construction, or “mobile plant” equipment. The specialty offering was created in response to the…

Big Fish

Big Fish: Four Boats, Three Ownership Entities, Three Docking Locations

In the high-net-worth stratosphere, owning four autos is not unusual. What is unusual is owning four different types of boats under three different ownership entities (personal, corporate and LLC), docking them in three locations (Florida, Montana and the Bahamas) and flagging them in two different countries (U.S. and the Cayman Islands). In this case, the…

Marine market mastery