Addition of the state of California gives Max a 50 state franchise for admitted Marine products, both Inland and Ocean
Max Capital Group (Max) has reported that with the addition of California, Max America Insurance is now an eligible Inland and Ocean Marine insurer in all 50 states of the US.
Max America Insurance is a subsidiary of Max Specialty, an admitted insurer in Delaware and approved to write business on a non-admitted basis in 49 states and the US Virgin Islands.
Stephen Vaccaro, Jr., president and CEO of Max Specialty Insurance, said: “The addition of the state of California gives Max a fifty state franchise for admitted Marine products, both Inland and Ocean. Max America, in conjunction with Max Specialty, is now well placed to assume a leading position in the US marine and specialty markets.”
Max Group, through its operating subsidiaries, provides specialty insurance and reinsurance products to corporations, public entities, property and casualty insurers, and life and health insurers. Max Specialty is the US subsidiary of Max that operates across brokerage, contract binding and marine.