ING Canada announced that Royal & SunAlliance Canada (R&SA) has acquired the renewal rights of ING Insurance Company of Canada’s $13-million commercial marine insurance business, effective Sept. 1, 2005.
Under the terms of the agreement, R&SA has acquired the renewal rights to all ING Insurance’s commercial ocean marine insurance business, which includes hull, cargo and liability insurance as well as yacht programs underwritten through several Managing General Agencies.
ING Insurance will however continue to provide insurance to individual yacht owners as part of their home or cottage coverage.
Topics Commercial Lines Canada
Was this article valuable?
Here are more articles you may enjoy.
What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns. 
Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season 
Damage From Hurricane Beryl May Cost Insurers $2.7B in US, $510M in Caribbean: KCC 
Progressive Q2 Net Income Skyrockets Over 320% 
