A joint venture between Apex Insurance and insurance industry veteran Brent Mullan is bringing new marine insurance solutions to a market which has a far-reaching impact on the economy.
Apex Marine & General will operate in a dynamic sector that covers everything from large scale seafood operators to niche tourism and Apex managing director James McGhie said he was excited at the prospect of starting 2020 with a new venture.
“Businesses covered by marine industry regulations require specialist insurance and many are unaware that buying off-the-peg products can leave operators high and dry if their claim is not covered under their policy.
“Our success has been built on collaboration and identifying new opportunities to help our clients meet the challenges of their industry. Brent’s energy, passion and high-level experience not only adds value to existing Apex customers but will expand our ability to create new networks and relationships.”
A regular boatie and competitive yacht racer with 25 years’ global insurance experience, Mullan is passionate on the subject of the New Zealand marine industry.
“While the sector has its ups and downs overall our sustainability rates very well and New Zealand has been rewarded for innovation and risk-taking. We’re seeing significant investment in seafood and tourism as well as a booming pleasurecraft market across the country. Our ‘prescription-style’ approach means spending time with clients to understand their operations and we shape our offering to give them the best chance of success.”
Mullan felt improving the sustainability of smaller operators was key to seeing the regions thrive.
“One of the coolest things about insurance is you get out and about, learn the culture, meet the people. It’s the best part of the job. A really big area of us in terms of education and support are the one or two-person teams who are having a crack. Tradies and boaties often don’t seek specialist advice yet they have the same liability exposure as bigger companies.”
With regulation changes sweeping the insurance industry many operators are faced with rising cost of doing business independently. Mullan, who has national business development experience, cites Apex’s willingness to integrate new ways of working with brokers into their structure as a factor in partnering with the privately-owned and local company.
“Apex are young at heart, growing, and kiwi owned. They offer fresh thinking and are particularly strong in key areas of liability and cyber, which is increasingly important to clients. Apex’s willingness to offer innovative risk solutions to clients backed by their own values around sustainability and community while meeting our industry’s code of conduct made them the logical choice to go into business with.”
