Great American Insurance Group’s Ocean Marine Division Announces Expanded Role in International Trade Community
CINCINNATI--Great American Insurance Group’s Ocean Marine Division, a recognized leader in cargo, marina and vessel pollution environmental insurance coverage, is pleased to announce that it is expanding its role in the international trade community through its strategic marketing relationship with Avalon Risk Management, Inc. (“Avalon”).
As part of this new strategic relationship, Great American Alliance Insurance Company, a wholly owned subsidiary of Great American Insurance Company and member of the Great American Insurance Group of companies, will underwrite international transportation and U.S. Customs bonds with Avalon. Avalon writes more than 35 percent of all continuous bonds on file with U.S. Customs and Border Protection (“CBP”).
Avalon’s program includes value-added services that customs brokers may pass onto importer clients. Services include access to Web Merlin™, the most innovative technology in the customs bonds industry. Web Merlin provides import activity reports free of charge under an importer’s continuous bond. These reports are a valuable component to managing a compliance program in the following areas:
- Tracking of bond sufficiency to ensure bonds are compliant with CBP regulations
- Managing Customs data and volume by port, division, entry type, etc.
- Reviewing annual importation values, duty and tax payments
- Facilitating timely liquidation of entries by CBP
- Providing penalty and mitigation management
For more information about this program, visit www.avalonrisk.com.
About Avalon Risk Management
Avalon is a premier provider of insurance and surety solutions for logistics companies. Avalon was founded with a commitment to provide the highest level of service to the logistics industry. Local service is provided through eleven offices in major North American port cities.
About Great American’s Ocean Marine Division
Great American’s Ocean Marine Division was founded to protect the assets of its customers in the marine industry by offering a vast array of insurance products that anticipate and meet their unique business needs. A team-based approach that focuses on skilled, creative underwriting and claims and loss prevention solutions is the cornerstone of its success. For more information, visit www.GreatamericanOcean.com.
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed, indexed and variable annuities and a variety of supplemental insurance products. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for over 100 years (most recent rating evaluation effective on March 27, 2009). The members of the Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG) , also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange and the Nasdaq Global Select Market under the symbol (“AFG”).