A Safe Harbor


Don Harrell, Senior Vice President for Marine at Liberty International Underwriters, says “I like to build and expand operations around the world, and at LIU, I have the unique opportunity to work with a growing global marine group that leverages an existing infrastructure and a staff with a great reputation.” The following are excerpts from that interview.


What are the main issues impacting the talent pool in the Marine industry and how is LIU addressing these


n Integrated ap- proach: underwrit- ing, claims and risk engineering team


n Experienced Marine underwriters throughout the US


n LIUCargo.com – efficient way to write small and midsize cargo risks


DON HARRELL Senior Vice President for Marine at


Liberty International Underwriters


have to use an integrated approach. No single person has all the answers, so I work to bring diverse experts together and unite them in a common cause.


“ ” How can brokers take advantage of the new demand In such a specialized product line you


for cargo insurance in the middle market? As the market cycles become shorter and less dramatic, Marine insurance becomes more of a commodity for particular product cover- ages, especially in the middle market. The brokers and carriers who are able to balance their portfolios by geography, product and segment are better equipped to sustain the market cycles. Technical underwriting is just not enough to be successful in today’s Marine market. It is necessary to implement appro- priate and cost-effective strategies for each segment. LIU is constantly looking for new ways to serve the market, like LIUCargo.com. This tool is an example of how we created an efficient way to serve the cargo needs of the small and midsize marketplace. The broker and agency can quote, bind and issue certificates all online. We’re also looking for ways to use tech- nology to offer our other Marine products in the future.


Listen to the full interview or share this edition at www.bestreview.com/issuesanswersarchive.asp.


Best’s Review December 2011


issues? Many of the Marine leaders and senior managers will retire in the next 5–10 years and, because of the soft market, Marine positions haven’t been attractive to the next generation of leaders. This loss of experienced leaders will significantly impact the industry as there are not enough middle management executives who can immediately step up to fill these leadership roles. At LIU, the depth of experience in our team of marine underwriters sets us apart from the industry. We’re investing in the team, not only adding to staff but also focusing on training and ensuring that we’re capturing and transferring knowledge.


Why has engineering become a critical part of conduct-


ing business in the Marine market? Because of economic pressures, companies are looking for ways to reduce costs. Marine Engineering can help mitigate losses or analyze past loss trends, which gives companies the information needed to implement measures that can help them avoid or minimize loss going forward. That’s why LIU’s approach includes engineering from the beginning, before we write an account. Our engineers and underwriters work as a team to review a company’s opera- tions and recommend a plan to help minimize loss.


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