BOSTON–(BUSINESS WIRE)–One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, today announced the launch of boat rental insurance.
One80 Intermediaries, in partnership with insurtech platform vQuip, now offers liability insurance for individual boat renters in all 50 states. Prior to the launch of this product, an individual renter or charterer of a boat had no ability to be held liable as the operator of the vessel.
The timely start of this new program also solves a critical issue for Florida rental liveries, which face a deadline to comply with a new law that goes into effect on January 1stSt2023. Act SB606, known as the Boating Safety Act of 2022, requires rental liveries to hold liability insurance covering both the rental livery and the boat hirer, which this product complies with allowing the rental liveries to remain open and remain in compliance with the new law.
“As a lifelong boater, marine insurance professional and general advocate for the shipping industry, I look forward to helping the industry I am so passionate about keep its doors open and thrive,” notes Christopher Pesce, National Program Practice Leader at One80.
“We are very excited to secure the future of the rental industry through our partnership with One80. This is a huge step forward for everyone involved in creating a more open and fair rental insurance market,” notes Cam Serigne, CEO of vQuip. “Not only does our platform solve the problem of renters not being able to secure coverage, but it provides renters with a seamless, integrated approach to shopping and booking their rental properties while providing critical risk mitigation for the rental facilities through automation and documenting and educating the renter during the checkout process . It is truly an end-to-end solution that offers great value to the consumer and the rental facility.”
One80 Intermediaries is one of the largest and fastest growing national wholesale and program underwriting firms in the United States and Canada with over $2 billion in insurance premiums under management.
vQuip is an end-to-end operations platform serving a wide range of equipment, recreational sports and boating rental companies. Their unique platform simplifies the operational processes related to booking, billing, documentation and risk mitigation while facilitating the insurance purchasing process in a few simple steps.
About One80 agents
One80 Intermediaries is privately held with offices in the US and Canada. As a leading insurance wholesaler and program manager, the company provides brokerage services and binding powers of attorney for property and casualty, professional and personal, life, and travel/accident and health insurance. One80 specializes in key industry verticals such as medical stop-loss, cannabis captives, alternative risk, guarantee coverage and lender-based insurance. One80 serves commercial companies, non-profit organizations, public bodies, individuals and associations and unions and has access to all major insurance markets in the US, Canada and UK. One80 has offices in more than 40 locations across the United States and Canada. Visit www.one80intermediaries.com for more information