FMCA Launches Longshore Program for Small and Mid-Sized Firms

Florida Marine Contractors Association has launched a new Longshore insurance program specifically tailored for small and mid-sized marine construction firms.

The Association's goal is to ensure that every marine contractor will be able to secure coverage at a fair and affordable rate.

Program Highlights:

No minimum number of employees.
Previously, firms with six or fewer employees were denied coverage.

No minimum amount of Longshore exposure.
Many marine construction firms have been denied coverage because they spend only a small portion of the work day performing Longshore-type work.

A smaller downpayment.
The FMCA program requires a 20% premium downpayment - about half of typical requirements.

Affordable rates.
July, 2004, the Florida Longshore surcharged dropped a staggering 44%. On January, 2005, baseline Workers' Comp rates will decline 5.1%. Longshore premiums in Florida are now comparable to rates for carpenters, electricians and roofers.

Eligibility

This program is available exclusively to FMCA members.

Any Member firm in business three or more years, or new firms where the principal can demonstrate three or more years of prior experience, qualifies for this program.

A rate mod of 1.35 or less (for an explanation of rate mods, click here).

If you are NOT an FMCA member, you must join to participate in this program. In the unlikely event you are denied coverage, FMCA at your request will refund your membership fee.

This program was developed by Ian Greenway of LIG Marine Managers and is underwritten by American Insurance Group (AIG.) FMCA receives no fees of any kind when a policy is written. .