Innovative Program Harnesses vQuip Specialty’s Risk Management Platform to Protect Businesses and Renters

Boston, MA, April 24, 2024 – One80 Intermediaries, a specialty insurance broker and program manager, today proudly announces the launch of Stella Maris, a groundbreaking insurance product designed specifically to address the unique needs of standalone watercraft rental businesses. Targeting an array of vessels from boats and jet skis to sailboats, Stella Maris is the first of its kind: an insurance product born from the synergy between expert risk assessment, data and the latest in safety and loss prevention technology.

Stella Maris heralds a new era in risk mitigation and program development for the watercraft rental industry and will only be accessible to rental operators who utilize the vQuip OS safety and loss control platform. vQuip’s platform integrates advanced rental operation risk management features and embeds renter’s insurance directly into every trip, protecting the renter while providing a robust shield against potential risks for the business.

“Stella Maris marks a significant milestone in One80’s ongoing commitment to providing innovative solutions to the ever evolving, and therefore challenging, marine insurance market” stated Matt Roper, Marine Practice Leader at One80 Intermediaries. “This program offers comprehensive Protection & Indemnity (P&I) cover for businesses while embedding mandatory renter’s insurance on every rental trip, significantly lessening the risk burden on our clients.”

For brokers, Stella Maris stands as a beacon of innovation in a market riddled with subpar loss records and limited capacity. It addresses a critical gap for rental operations, reducing Errors & Omissions (E&O) exposures for brokers and enabling better scheduling practices for watercraft rentals.

Key advantages of Stella Maris for rental owners:

• Competitive commercial insurance rates and adaptable coverage options via Stella Maris.
• Diminished P&I risk through application of stringent operational safety protocols and direct risk transfer to renters.
• Access to the exclusive “vQuip Safe Operator Certificate” highlighting safety and operational superiority relative to competitors.
• Collection of requisite data via vQuip to protect against negligence claims.
• vQuip OS is already integrated with leading reservations systems, meaning that operators can seamlessly use the safety platform.

Cam Serigne, Founder and CEO of vQuip, said “The Stella Maris partnership empowers rental businesses to set a new standard in digital process documentation, operational excellence, and safety enhancement. Operators utilizing this platform distinguish themselves in a fiercely competitive market and gain exclusive access to the Stella Maris program by One80 Intermediaries.”