Norwich Union (NU) has joined forces with Arnott Marine, part of Arnott Commercial Insurance Services, one of the largest privately owned insurance brokerages in the North of England.
Under the agreement, NU will out-source the underwriting of hull and machinery insurances in respect of UK commercial fishing vessels to Arnott Marine.
This includes policy preparation and distribution, although claims will still be administered by NU from its Manchester office.
It is proposed that Arnott Marine will service UK insurance brokers by providing hull and machinery quotations in addition to dealing with fishing vessel owners directly.
Arnott said the joint venture will provide fishing vessel owners with an alternative market for hull and machinery insurance, thereby giving owners more choice in an area which historically has been fairly restrictive due to the limited number of underwriters offering that type of insurance.
