One80’s boat rental insurance provides liability coverage in partnership with insurtech platform, vQuip
BOSTON–(BUSINESS WIRE)–One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, today announced the launch of boat rental insurance.
Effective immediately, One80 Intermediaries in partnership with insurtech platform vQuip, provides liability coverage for individual boat renters in all 50 states. Prior to this product being launched, an individual renter or charterer of a boat had no means of securing liability protection for themselves as an operator of the vessel.
The timely launch of this new program also solves a critical concern for rental boat liveries in Florida that are facing a deadline to comply with a new law that goes into effect January 1st, 2023. The law, SB606 cited as “Boating Safety Act of 2022” creates a requirement for rental liveries to obtain liability insurance that covers the rental livery as well as the boat renter, which this product satisfies, enabling rental liveries to remain open and in compliance with the new law.
“As a lifelong boater, marine insurance professional and overall advocate for the marine industry, I’m excited to help the industry I’m so passionately a part of, keep their doors open and thrive,” remarks Christopher Pesce, National Program Practice Leader at One80.
“We are very excited to insure the future of the rental industry through our partnership with One80. This is a big step forward for all involved towards creating a more open and fair rental insurance market,” remarks Cam Serigne, CEO at vQuip. “Not only does our platform solve for the issue of renters not being able to secure coverage, but our platform provides for a seamless integrated approach for a renter to shop and book their rentals while providing critical risk mitigation for the rental facilities by automating, documenting and educating the renter throughout the checkout process. It truly is an end-to-end solution that adds great value to the consumer and the rental facility.”
One80 Intermediaries is one of the largest and fastest growing national wholesale and program underwriting companies in the U.S. and Canada with over $2 billion in insurance premium under management.
vQuip is an end-to-end operational platform serving a wide range of rental businesses from equipment, recreational sports and boating. Their unique platform simplifies the operational processes related to booking, billing, documentation and risk mitigation while facilitating the insurance purchasing process, all in a few easy steps.
About One80 Intermediaries
One80 Intermediaries is a privately held firm with offices throughout the US and Canada. As a leading insurance wholesaler and program manager, the company offers placement services and binding authority for property & casualty, professional and personal lines, life insurance, and travel/accident and health coverages. One80 specializes in key industry verticals such as medical stop loss, cannabis captives, alternative risk, warranty coverage and lender-based insurance. One80 serves commercial companies, non-profits, public entities, 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 in the US and Canada. For more information visit www.one80intermediaries.com
Lenika P. Milne