Greek insurance specialist Maria Mavroudi has set up her own brokerage in Piraeus.
Searock Marine Insurance Brokers is up and running after providing some broking and advisory services during the recent protection and indemnity renewal.
Searock will also be providing the full range of broking services, including hull and machinery, war risk, cargo and other specialised insurance covers.
Mavroudi has a wide range of experience — in claims, underwriting and broking — having worked at Standard Club, American Club, Richard Hogg Lindley, Marsh and Seascope Hellas Insurance Services.
“This is something I have been thinking about for some time and now is the right time," she said. "There is a new generation taking over in Greece and I have also been encouraged by my clients. This is why I have decided to create my own company.”
Searock has a cooperation agreement in place with a Lloyd’s of London broker and Mavroudi said it also has access to insurance capital in the global markets.
Mavroudi sees her company acting as a broker and in an advisory capacity to help clients find alternative solutions. She said the days when a shipbroker could simply fix insurance for a commission are gone.
She said the current pandemic and hardening insurance markets present a good opportunity to explore different approaches to traditional insurance lines.
International approach
“Now people are looking forward and at alternative opinions," she said. "They are asking how and why are we doing things this way?”
“We are looking to combine our local knowledge with an international approach. What we want is to do business partly as insurance advisors, not just brokers who take out a commission.”
Mavroudi believes that the emergence of giant marine insurance brokers such as Marsh JLT Specialty, and the proposed consolidation of Aon and Willis Towers Watson, has helped smaller boutique brokers.
She believes many shipowners prefer to work closely with smaller brokers.
“This is mainly a people business that is more personal than corporate," she said. "People always want to work with people that they know and have a relationship with.”
