Marinex Underwriting will initially offer four key products: Cargo, Carriers, Commercial Hull, and Marine Liability insurance. These offerings are designed to address the complex and evolving needs of Australia's marine industry, providing comprehensive coverage options for various stakeholders.
The agency is co-founded by industry veterans Chris Kelly, Ainsley Smith, and Janelle Karnib, who bring extensive experience in marine insurance. Chris Kelly, serving as CEO, emphasised the agency's commitment to delivering unparalleled service and innovative solutions that cater to the unique requirements of clients.
Janelle Karnib, National Relationship Manager, highlighted the agency's focus on broker relationships, stating that their commitment to broker service has shaped the business structure and culture of Marinex. This approach aims to set new standards in marine underwriting excellence.
Marinex's entry into the Australian market comes at a time when the global marine insurance industry is experiencing sustained growth. According to the International Union of Marine Insurance (IUMI), global marine insurance premiums increased by 5.9% in 2023, reaching US$38.9 billion. This growth reflects increased trade volumes and higher values of vessels and offshore energy assets.
For Australian boat owners and marine businesses, the launch of Marinex Underwriting signifies increased options for specialised coverage. The agency's focus on tailored products and strong broker relationships aligns with the industry's demand for insurers who understand the unique risks associated with marine operations.
As Marinex establishes its presence, stakeholders can anticipate innovative products and services designed to meet the sector's specific requirements. This development reflects a broader trend of recognising the potential within Australia's vibrant marine industry.
