2 March 2017
According to Sunderland Marine chief executive officer Tom Rutter, ‘the cost of cover offered by standard stock mortality policies designed for international aquaculture businesses is usually prohibitively expensive for owners and managers of freshwater fisheries. There are nearly 10,000 such businesses in the UK and they play a vital economic role – providing employment, leisure and tourism opportunities. Sunderland Marine’s new flexible and cost-effective cover will help protect these businesses.’
Sunderland Marine risk management surveyor and coordinator Duncan Perrin says, ‘The policy is available to all freshwater trout and coarse fisheries. It enables them to cover all or part of their stock for specific mortality risks and at a financial level that suits them.’
Premiums for Sunderland Marine’s new fishery stock mortality policy are quoted in respect to named perils for all or selected species at a fishery. Policyholders benefit from Sunderland Marine’s complimentary risk management service which includes a site assessment by a member of the risk management team. The policy covers claims up to an agreed total value per year and cover can be reinstated following a claim by additional premium payments. The main exceptions to cover are intentional slaughter and the loss of a single fish. The minimum annual premium is £400 plus tax.
‘To make a claim, policyholders simply need to notify us as soon as possible and then provide photographic and documentary evidence of the mortality and cause,’ says Perrin. ‘In the event of disease, all mortality experienced within the subsequent 30 days from that disease will be considered part of the same claim.’
UK-based Sunderland Marine has successfully insured the world’s fish farms for over 30 years significantly longer than any other global insurer in this sector. The company, which is also a major fishing vessel and small craft insurer, is consistently the largest underwriter in the aquaculture sector worldwide.
‘We provide high quality insurance cover, efficient claims handling, complimentary loss mitigation advice and risk management services to all sizes and types of aquaculture operations worldwide,’ says Rutter. ‘This new policy is tailored to deliver the same benefits and service ethos to freshwater fisheries at an affordable price.’
For further information contact: Robert Ferguson or Kim Heaselden +44 191 232 5221 or firstname.lastname@example.org
Note to editors
Sunderland Marine is a leading international insurer of fishing vessels, small craft and aquaculture risks. Established in 1882, the Standard and Poor’s A-rated company is based in Newcastle upon Tyne, UK with regional offices in Australia and New Zealand and – trading as Harlock Murray Underwriting – in Canada and the USA. Sunderland Marine became part of North Group in 2014 following its merger with North P&I Club, which also has offices and subsidiaries in China, Greece, Hong Kong, Japan and Singapore. Sunderland Marine’s highly qualified and knowledgeable teams of underwriters, surveyors and claims staff ensure clients are provided with the highest levels of service and cost-effective all-risks insurance policies. The company issued its first aquaculture policy in 1986, making it one of the longest serving insurers to the aquaculture industry. For more information, please visit Sunderland Marine’s website at www.fisheryinsurance.com