The Hartford and Venbrook partner to create new insurance practice

US-based insurance brokerage firm Venbrook has entered into a partnership with property/casualty insurer The Hartford to launch a third-party logistics (3PL) warehouse practice.

The partnership offers companies warehouse and logistics coverage that can flex and expand depending on individual requirements.

The new warehouse practice of Brooks Insurance Agency, the wholesale division of Venbrook Specialty Services, will assist brokers with designing the proper coverage forms for their clients. This includes establishing property and legal loss limitation agreements, helping address the individual needs of clients’ customers, and offering direct access to the industry experts on warehouse legal liability issues.

"The logistics and warehouse industry is rapidly evolving with new technology and regulatory requirements," Sharon Primerano, chief underwriting officer for The Hartford’s marine practice, commented. "Venbrook’s experience and expertise make them a natural partner to bring risk transfer solutions to the marketplace as we look to grow our business."

David Rosen, managing director of Brooks, said: "Brooks’ expertise coupled with The Hartford’s underwriting, coverage and risk engineering capabilities are a great match. We wanted to create an insurance practice that addressed all of the industry-specific issues 3PLs and warehouses face."

"We’re excited to help brokers mitigate the unique risks facing their industry and provide full coverage for companies. The Hartford was a natural fit for this initiative," Rosen added.

The companies will provide coverage for the entire logistics spectrum, including warehouse legal liability; buildings, contents and business interruption; motor truck cargo legal liability including contingent liability; expanded coverage for transportation brokers; comprehensive general liability; trucking; umbrella liability; and worker’s compensation; among others.

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