Seacurus wins ‘Broking Initiative of the Year’ Award
6 September 2013
The award recognises Seacurus’ innovative approach to tackling the longstanding issue of how to safeguard the rights of seafarers in cases of abandonment. In April 2013, the broker launched CrewSEACURE, the first product designed exclusively to address the issues and liabilities arising from the stranding of crew members and to satisfy the legal requirements under the new Maritime Labour Convention (MLC) 2006 which obliges the shipping industry to take proper care of seafarers.
The award was presented to Captain Thomas Brown, Managing Director of Seacurus Limited at the event, which was held in London. The judges highlighted CrewSEACURE’s ability to ‘provide a lifeline for people wherever they are in the world in the face of extreme financial pressures. This product addresses a long standing global problem and is a watershed moment for the industry’.
Commenting on the award, Captain Brown said: “On behalf of my colleagues at Seacurus, we are delighted and honoured to have been recognised for our efforts to provide a pragmatic and affordable solution to the problem of seafarer abandonment. CrewSEACURE not only offers a lifeline to those crew members who have been set adrift by their ship owners, but also helps to translate the goals of MLC 2006 into tangible benefits for seafarers.”
Seacurus, CrewSEACURE, abandonment, marine, seafarer, Insider Honours, Barbican, Thomas Brown
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Notes to Editors
Seacurus Ltd is an FCA-regulated insurance broker, founded in 2004, specialising in bespoke revenue protection cover for the maritime industry. It is a market leader in the design and implementation of solutions to protect companies from unforecasted balance sheet impacts, including credit default, charter party cancellations, hijackings and voyage disruptions caused by political events. Seacurus established the first delegated underwriting binding authority for marine kidnap insurance and is an approved Lloyd’s Coverholder.
Formed in 2007, Barbican Group Holdings is an insurance group writing business predominantly through its Syndicates at Lloyd’s. It also has a non-Lloyd’s financial solutions business based in Guernsey which offers insurance and reinsurance programmes to the global market.
Barbican Syndicates 1955 and 6113 at Lloyd’s have a stamp capacity of £227.5m for the 2013 year of account and underwrites cyber liability, financial and professional lines, healthcare liability, international casualty reinsurance, marine insurance, marine reinsurance, North American casualty reinsurance, property, property reinsurance and corporate, middle market and scheme/affinity group clients in the UK and Ireland.