PHILADELPHIA, AUGUST 10, 2004 - INAMAR, the marine marketing and underwriting division of ACE USA, today announced the launch of its latest insurance program, one designed exclusively for the owners of personal watercraft (PWC). In response to the increasing number of PWCs on the waters - and the unique insurance risk they pose - INAMAR has developed an exceptional new program to protect the wide variety of PWC models and sizes on the market today.
The INAMAR PWC program is available to all agencies appointed by ACE for recreational marine insurance. The program is offered currently in 42 states and the District of Columbia and will be available on a national basis in the coming months.
In response to the growing ownership of personal watercraft, INAMAR identified a market need for a more comprehensive PWC insurance plan that would address the distinctive exposure this type of watercraft presents and, equally important, the need for simple and streamlined administration from quoting right through to the PWC policy issuance process. "One of our foremost considerations in designing the new INAMAR PWC program was ease of doing business," according to Ray Stahl, President, INAMAR Recreational Marine Insurance. "In particular, we aimed to capitalize on the success of our existing underwriting and quoting platform, ORCA, which is viewed by our agents as a state-of-the-art marine system that provides a fast and easy way to conduct business while providing superior service to their customers. We're confident that we've achieved this goal with our new user-friendly INAMAR PWC application process."
In addition to the efficient underwriting process, the new INAMAR PWC program offers an outstanding level of insurance protection with Personal Property, Trailer, Towing and Overland Transit coverage, and Medical Payments, as well as Uninsured Boaters coverage equal to the Liability Limit - all at no additional charge. Another advantage includes the option of covering multiple PWCs under one policy.
INAMAR's simple and easy-to-use program is expected to be a valuable addition to its appointed agents' product offerings. Other fine marine programs are available through INAMAR to protect a variety of yachts and boats of all sizes, as well as marine-related businesses such as yacht clubs, marinas, and boat dealers. Stahl added, "With the addition of this new insurance program, INAMAR has the capability to insure the complete range of watercraft, from PWCs to mega-yachts and everything in between."
To obtain details of the INAMAR PWC insurance program, please contact INAMAR's Vice President of Business Development, Peter Lafontaine, at 215.640.2609 or peter.lafontaine@ace-ina.com. To learn more about INAMAR and its products and services, and to obtain valuable safety and loss prevention information on a range of topics, please visit www.INAMARmarine.com
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INAMAR is the marine marketing and underwriting division of ACE USA. ACE USA is the U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited (NYSE:ACE), rated* A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world. Insurance policies issued by INAMAR are underwritten by ACE American Insurance Company and affiliated carriers in ACE USA.
* Company ratings as of August 2004.