Michael Else & Company debut PIMS, new insurance product
Michael Else & Company, managers of the Charterers P&I Club and Transmarine, are pleased to announce the launch of Portside Insurance Management Services, a new product that opened its doors for business on 3rd October 2011. Portside provides innovative cover solutions worldwide for small and medium-sized Multimodal Transport Operators and Shipping Intermediaries such as Freight Forwarders, NV OCC’s, Warehouse Operators and Ship Agents.
Portside operates as a brand within Michael Else & Company’s existing MGA structure and the security will be provided 100% by Torus Insurance (UK) Ltd, rated A.M. Best A- (Excellent).
Christopher Else, the Managing Director of Michael Else & Company commented: “We have come a long way since our foundation in 1974 and earlier this year celebrated the 25th anniversary of the Charterers P&I Club. In such a special year we are excited to be launching a new product that fits so well with our existing brands and will immediately benefit from our established network of clients, brokers and suppliers. We are also delighted to be developing a relationship with Torus Insurance (UK), which is rapidly establishing itself as an important global player in the International marine
insurance market.”
Alexander Brewster, a respected underwriter in this sector, has been appointed as the Class Underwriter. Alexander is pleased to have the opportunity to develop Portside and is confident that with the existing resources and networks available to Michael Else & Company, Portside will be a success.
Demian Smith, Global Head of Marine at Torus Insurance UK said: “We are delighted to have the opportunity to work with Michael Else & Company in the development of this new product. Portside is very focused on the small to medium size operators in this sector because it is clear that there is a lack of high quality, well managed, insurance product on offer to them.”