Allianz Global Corporate & Specialty SE has entered a strategic partnership with Hydor, a specialist underwriting firm with regional expertise in marine insurance to expand the scope and resilience of marine liability coverage across the Asia-Pacific region.
The collaboration is designed to meet the increasing demand for tailored insurance products in the maritime sector. By combining Hydor’s deep regional knowledge and underwriting precision with the international scale and financial security of Allianz Commercial, the partnership introduces a new General Marine Liability (GML) product that caters to the specific risks faced by maritime businesses.
Hydor provides specialist underwriting services with a strong focus on marine insurance, offering targeted solutions for a range of maritime operators. Allianz Global Corporate & Specialty SE is a global provider of insurance for corporate clients, delivering specialised coverage and support through a wide network and financial strength.
The GML policy created through this collaboration offers comprehensive coverage for a wide array of marine liabilities. These include cargo loss or damage while under care, custody, or control; third-party bodily injury and property damage; and professional errors and omissions. It also covers regulatory fines and penalties, as well as Marine Property, Machinery, and Business Interruption risks. Clients will benefit from bundled coverage with individual limits of up to $25m for both liability and property-related exposures.
The launch and regional expansion of this product are being overseen by Colin Fordham, a seasoned marine insurance professional operating from Hydor’s Singapore office. Fordham brings decades of industry experience to the rollout, which is expected to enhance the accessibility and relevance of marine insurance across Asia-Pacific markets.
The partnership is a strategic move aimed at delivering more robust, locally relevant insurance offerings to a region experiencing rapid maritime growth and evolving risk landscapes.
Hydor CEO Folkert Strengholt said, “Hydor is proud to partner with Allianz Global Corporate & Specialty SE, a name synonymous with global insurance excellence. This partnership allows us to deliver meaningful, well-rounded protection to maritime businesses by combining our local expertise with Allianz’s international backing.”
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