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Additionally, workboat owners should be aware that property dam- age and injury coverage policies rarely include ? ood insurance. When

Hurricane Joaquin hit South Caro- lina this past October, the state faced more than one billion dollars in ? ood losses, and most of it was uninsured.

According to a poll conducted by the

Insurance Information Institute, only 14 percent of Americans are insured against ? ooding. Workboat owners need to buy a separate ? ood policy through the National Flood Insurance

Program, administered by the Federal

Emergency Management Agency, or risk facing thousands of dollars in ? ood damages in the winter months.

Finally, it is essential workboat owners seek out an insurance provider that specializes in marine exposures.

A provider with a niche focus on ma- rine insurance will be able to provide workboat owners with deep expertise and a great understanding of the in- dustry. Specialized insurance providers can also offer innovative solutions that add unique value to their business.

Tracy Markowski has been in the marine insurance business for over 25 years. Prior to working at Pro-

Sight she worked for several other large marine insurers, including

Munich RE in the United States and Germany.

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