MHG - We Speak Insurance

Choosing an insurance plan for your group can be intimidating; insurance has its own language. At MHG Insurance Brokers we understand the language of insurance and we understand the marine industry. We specialize in insurance plans designed specifically to meet the needs of marine employers, shipboard officers and crew, and contractors and concessionaires.  

 

Since 1991, MHG has provided insurance for the world’s top cruise line officers and crew.  MHG will help you sort through the terminology and key features to determine the best carrier and plan for you. As an employer, the health and wellbeing of your employees is a valuable asset. 

We offer a portfolio of life and health insurance solutions.  We provide major medical insurance, short term medical, life insurance and short term disability insurance, dental insurance and even supplemental insurance.  We can also provide insurance to your shore side staff. 

MHG is a full service broker and has access to all of the major US insurance carriers.  MHG works for you, our client and because every group is different, we take the time to find the right plan that fits both your budget and the needs of your group. Show your employees how valuable they are to you by providing life and disability insurance. This insurance is a valuable form of protection for you and your employees. 

Investing in group life insurance will provide an excellent fringe benefit for new and existing employees, and may be deducted from federal income tax premiums. As a business owner, it is advantageous to take care of your employees and important to protect your business. There are many different types of business coverage that a company may need such as property insurance, liability insurance, crime insurance, business interruption insurance, kidnap and ransom insurance, and workers' compensation to name a few. 

Whether you are a new business owner and are wondering what type of insurance you need or an established business looking for a more competitive option, MHG has the resources and contacts to help you obtain the correct coverage at the right price. By getting to know you, your business and your risks, we are able to secure the appropriate coverage. We are dedicated to our clients and treat them as friends and business partners. 

At MHG our commercial insurance solutions include general liability, professional liability and products liability.  General liability insurance is secured to protect the insured from the potential risks and liabilities imposed by lawsuits or similar claims that may arise out of bodily injury, property damage, or product malfunctions.

Professional liability insurance is secured to cover less tangible claims resulting from a company or a person's errors and omissions and include claims made for negligence, failure to perform and inaccurate advice. This insurance also covers perceived financial loss and violation of good faith and fair dealing. 

Is your property protected? At MHG we offer commercial property insurance to protect your property from physical damage and loss of use as well as to protect your inventory or assets against loss or damage caused by theft, an accident or other means. This coverage protects your business property even when it is not at your business. If you are leasing a building, office or retail location, you will only need to procure "contents" coverage to protect your fixtures, furniture, inventory, office equipment and supplies. 

Do you understand the Longshore Harbor Worker's Compensation Act, often referred to as USL&H?  The experienced staff at MHG do, and we can help you provide the required benefits to your employees working in the maritime industry. MHG also provides marine liability insurance for liability or property damages to a third party while engaged in marine related operations.  

If your company provides detailing service to yachts or cruise ships you need to include a Ship repairer's Legal Liability endorsement that insures liability coverage for damages to a vessel while it's in the care, custody or control of the detailer. Marinas and cruise lines require proof of appropriate insurance prior to beginning work.  

At MHG, we have multiple carriers offering packaged Marine Liability Insurance programs that are available to companies of all types of marine risks. MHG Insurance Brokers offers turnkey support and solutions for all your insurance needs. Please contact us today at 877-287-7400 for more information.

If you are attending Cruise Shipping Miami March 13th-15th at the Miami Beach Convention Center, please feel free to stop by our booth #1893 located in the Ship Services and Hotel Operations section for more information on any of the services we provide. Please join us for a glass of wine during our opening reception on Wednesday, March 14th from 2pm-5pm.  Avoid the $100 fee and register as our guest for complimentary tickets to the Exhibition Hall.

MHG - We Speak Insurance

At MHG Insurance Brokers we specialize in insurance plans designed specifically to meet the needs of marine employers, shipboard officers and crew, and contractors and concessionaires.  Because of the unique needs of individuals and groups at sea, choosing an insurance broker that understands the lifestyle and work environment is essential. 

 

Services offered by MHG can be tailored according to each employer’s needs with the secure knowledge that they are marine specific and supported by a team experienced in the marine environment. With our extensive market relationships and experience in the industry, we offer sound, independent advice as to which insurance and financial services providers and products are best suited to address the needs of individuals and employers. 

Marine insurance solutions include private international health insurance, vacation health insurance, disability income, life insurance, short-term health insurance and retirement savings plans. Here is more information on the plans we offer. 

MHG provides private international health insurance to all nationalities. Our extensive market relationships permit the design of international group medical plans that are tailored to each employer's specific philosophy and compensation needs. MHG also offers various benefit packages that can be combined for groups located in the US. 

MHG offers short-term health insurance for contractors and concessionaires which provides coverage for emergency medical treatment, emergency medical evacuation, should the local facilities be inadequate and a number of other benefits. For groups requiring coverage for employees while on vacation, we can customize a plan to fit your needs. 

Disability Income is an effective risk management tool for employers that not only enhances the value of compensation packages for employees but also provides peace of mind.  It can provide protection against loss of income in the event an employee becomes temporarily or permanently disabled while at work or on vacation. Coverage is available to groups of five or more and can be customized to fit your budget and benefit needs. With worldwide coverage for disability due to accident or sickness, these plans also allow you to select a waiting period and benefit amount while typically not requiring underwriting. 

Let MHG Insurance Brokers provide you and your employees with peace of mind.  Group life insurance offers employees comfort knowing that in the event of their death their loved ones will receive financial support for ongoing expenses, funeral arrangements or children's education. For employers, group life insurance is a cost-efficient benefit because it is highly valued by employees.

MHG's investment team is able to provide cost effective, flexible benefit retirement savings plans which will help recruit, retain and motivate staff while providing the employer with maximum value for each dollar spent. As your specialist plan manager, MHG's role would normally involve consultancy, plan design, independent brokerage, investment planning and communication, installation and administration of the plan. We also provide consultancy and plan management services for employers with existing plans. 

With over 20 years of experience focused on the welfare of crew, MHG has the knowledge to advise the cruise industry about its insurance needs.  Please contact us today at +1 954 828 1819 for more information on any of the services we provide. 

If you are attending Cruise Shipping Miami March 13th-15th at the Miami Beach Convention Center, please feel free to stop by our booth #1893 located in the Ship Services and Hotel Operations section. Join us for a glass of wine during our reception on Wednesday, March 14th from 2pm-5pm.  If you still need tickets for Cruise Shipping Miami, avoid the $100 fee and register as our guest for complimentary tickets to the Exhibition Hall.

MHG – The Cruise Industry’s Insurance Specialists

You cannot watch the news lately without the graphic photos of the Costa Concordia cruise ship being plastered on your TV or computer screen. 

 

On January 13th, the Costa Concordia ran aground on a reef off Isola del Giglio, Italy and began listing heavily towards the starboard side. The ship was carrying 3,200 passengers and 1,000 crew members at the time of the accident. At the date this post was written, the search for 21 missing people resume. 

Espirito Santo Investment Bank released a report expecting the insured losses from the Carnival Corporation cruise ship disaster estimated to be between $500 million and $1 billion. That would make the disaster the largest marine loss in history. This number is up from the first estimate released which estimated losses around $513 million. 

The new estimate takes into consideration the liability losses as well as those stemming from the potential cleanup and environmental costs associated with the disaster. To understand where the Costa Concordia losses in context of past accidents, the Exxon Valdez oil tanker crash which included $500 million in pollution losses. 

With losses reaching at least $500 million, the claims will be spread across 10 or so different writers so no one insurance company should see more than 10% of the losses. The lead insurers for the ship are XL Group, Assicurazioni Generali and RSA Insurance Group plc. The risk is expected to be relatively fragmented considering most marine policies are written by syndicates of different companies and protection and indemnity clubs. 

The London-based Standard Club confirmed it is the lead protection and indemnity insure for the stricken ship. The liability side of the insurance can be a little more complicated due to the amount of individuals who file claims, if the captain is found guilty, etc. 

The removal of the wreckage is estimated to cost about $10 million. Considering the small percentage of passengers who were injured or deceased due to the accident, the human cost will be relatively low. Liability claims get tied up in litigation and take longer to be paid. A delay will also be made when determining if the ship’s captain Fancesco Schettino will face criminal charges. He is facing charges of manslaughter and abandoning ship; if found guilty, he could be held financially accountable for the disaster. 

While the losses are likely to be absorbed by the market, it is unclear if the disaster will be enough to change the current prices in the marine insurance market. Unlike a hurricane or serious storm where you see prices go up the next day, this would be a much slower process. 

The marine insurance industry is still absorbing costs of the damage caused by the flooding in Thailand and the earthquakes in Japan. Considering the industry is still feeling the strain from these past disasters, the Costa Concordia incident could put pressure to increase prices. 

MHG Insurance Brokers provide insurance plans designed specifically to meet the needs of marine officers, crew and contractors, expatriates, and US residents. MHG also offers yacht crew insuranceinternational medical insurancedisability insurance ,long term carelife insurance and business insurance. Our staff applies years of industry knowledge to find the best plan for each individual client, and is always a phone call or email away to answer any questions. For more information, contact MHG today.  

Costa Concordia Losses Could Reach $1 Billion, May Be Worst Marine Loss in History

You’re a member of a yacht crew because you love travel, challenge and adventure. From setting sail to exotic destinations and scuba diving in some of the most beautiful oceans in the world, to the innumerable perks of a great salary, life as a crew member comes with countless benefits. But with every incredible job comes some degree of risk, and for yacht crew, it’s being without the proper insurance to protect against on-the-job injuries and to help pay for doctor visits when overseas. 

 

Many first-time crew members mistakenly assume that their existing native health insurance plan will cover them when they’re at sea. More often than not, your home country’s policy will not protect you in international waters. 

If you become sick or injured during your time at sea, you will need to secure marine crew insurance to help ease the financial burden of doctor visits. Avoid expensive hospital bills in foreign countries by choosing the right yacht crew insurance policy for your unique circumstances. 

Not sure which marine crew insurance policy to buy? One of the most important factors to consider in this decision is which nation you’ll be working in.

There are two main types of marine crew insurance plans: one that covers workers in U.S. and Canadian waters, and another that covers every other country’s waters.

MHG Insurance Brokers offers a wide range of yacht crew insurance plans and international medical insurance for expatriates. Our customizable plans offer coverage for European crew members, those wishing to avoid the fees associated with maternity coverage, those seeking portable international medical insurance, members looking for dependent coverage and many more. Life as a crew member offers many glamorous perks. Take advantage of the benefits while being aware of the risks and protect yourself before you board ship with a quality marine crew insurance plan.

Marine Crew Insurance: Staying Safe at Sea