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As a marine underwriting agent, MMIB is empowered to set the terms, conditions and rates of coverage and is backed up by first-class insurers in the global marine insurance market. While other insurers and brokers insure seafood as a commodity, we understand the hazard and regulatory profiles of most species traded in the global marketplace today. 

We have captured more than 35 years of seafood underwriting experience on a species basis, segmented by country of origin and by individual seafood processors. 

Being in weekly contact with the US FDA has allowed us to understand the practices, guidelines and enforcement tools of the FDA and USDA. As the FDA expands its regulatory authority under the many guidelines issued puruant to the Food Safety Modernization Act (FSMA), we understand how these new practices can be applied to loss prevention and be used to reduce your exposure to loss. This understanding leads to lower insurance costs.

We recognize our clients have other substantial insurance needs to support their trading and processing sectors. MMIB has therefore developed strong relationships with first-class insurers who understand our expertise and will review our brokered placements to protect your inventory, domestic transit, product recall and domestic seizure exposures from loss, including perils of flood, windstorm, earthquake and to provide for the placement of excess loss coverage, when necessary.

Our close ties to importers and foreign processors mean we stay ahead of the curve when new food enforcement tools are implemented by food regulators. We also engage regulators as a representative of the importer or processor in seeking to demonstrate compliance when FDA testing events find a food safety violation or when an FDA error occurs at time of entry. 

We construct petitions to have processors removed from Predict, an FDA enforcement tool, and to remove processors from Import Alerts. Quite often, the consequential expenses incurred in order to be removed from an import alert can exceed losses you may experience as a result of an FDA violation. These costs can be insurable under certain circumstances.