IAT’s Programs and Inland Marine business units have recently launched two new programs in partnership with Maritime Program Group (MPG), a specialty insurance program company with core business focus in Recreational Marine, Inland Marine, Ocean Marine and Private Client Services.
Over the last two years, several insurance providers departed from the high performance recreational marine market, creating the perfect window of opportunity for our niche solutions-oriented company. Since the start of the year, IAT Programs worked quickly and strategically to develop a program that fulfilled the needs of MPG’s boat and yacht customers. Thanks to their hard work, we managed to write our first policy in mid-April.
In tandem with this venture, there was also a market opportunity for IAT Inland Marine and MPG. After discovering an Inland Marine program that needed a new home, our Inland Marine team was quick to react, answering the call from MPG and writing their first cargo policy in March.
“During my career, I’ve had the opportunity to work with Maritime Program Group on more than one occasion,” said SVP of Inland Marine Joe Tracy. “They are a quality managing general agent and truly value our focus on specialization. I’m excited that we took the opportunity to strike a partnership with them and look forward to what we will accomplish in the future.”
SVP of Programs Bill Teed added, “When starting programs like these, it touches many departments, allowing our diverse skillsets to work together and ultimately pull off successful launches. Despite the challenges we all are facing in our current work climate, our teams executed this launch thoughtfully and strategically. Thanks to their diligence, we are in a strong position to grow our book with Maritime Program Group. I truly appreciate the teamwork of all involved.”