MARAD Protection & Indemnity Policy Services

MARAD seeks a state-licensed marine insurance broker to provide brokerage and consultancy services to MARAD and the SMAs in order to place, manage and administer (from producing coverage, to claim support with respect to the insurer) marine insurance P&I coverage for the said fleet of MARAD-owned vessels. The deliverable will be the placement and management of a fleet P&I coverage policy by a marine underwriter or a mutual assurance association with maximum club limits for the training ships.The marine insurance broker will be tasked with (1) canvassing the P&I club market to obtain the best value for fleet coverage of P&I risks, (2) advising MARAD on appropriate P&I coverage risks and costs, (3) placing P&I fleet coverage for the fleet on an annual basis, and 4) supporting MARAD with insurance claim processing with insurer.