Seven Seas Insurance Company

What Seven Seas Insurance Company does

Seven Seas Insurance Company Inc. is a US-domiciled, Florida-based marine cargo insurance carrier founded in 1967 and operating as a subsidiary of the Saltchuk conglomerate. The company specializes exclusively in cargo insurance products — primarily Warehouse to Warehouse All Risk Coverage (with no deductible), Open Cargo Policies for frequent shippers, and Single Shipment Policies for occasional needs — alongside specialized programs for air, inland, and ocean carriers, freight forwarders, NVOCCs, and General Average coverage. Its core technology is a conventional insurance underwriting and claims processing platform, distributed through direct website and phone sales channels without intermediaries, allowing policyholders and claimants to reach decision-makers directly.

The company serves three primary customer segments: transportation carriers (air, inland, ocean) who need to offer cargo coverage to their customers beyond their liability limits; freight forwarders and NVOCCs seeking to provide value-added insurance solutions to logistics clients; and importers/exporters — both high-volume shippers using Open Cargo Policies and occasional shippers using single-shipment policies. Revenue is generated through cargo insurance premiums on a quote-based, pay-as-you-go model with policies customized by cargo type, shipment volume, invoice values, and transportation method. Pricing is not publicly disclosed.

The company holds an A.M. Best A (Excellent) financial strength rating (#11517), reflecting strong ability to meet ongoing policyholder obligations. It operates with 11-50 employees, led by President Yolanda Arrastia Grassi (appointed 2024, with prior experience at Great American Insurance Group and Chubb Panama). The firm recently completed a brand refresh in 2026 alongside planned operational enhancements targeting digital accessibility and customer service efficiency. Claims are settled within 30 days when properly documented, and the company emphasizes direct customer relationships over broker-driven distribution.

Name

Seven Seas Insurance Company

Legal name

Seven Seas Insurance Company Inc.

Website

https://sevenseasins.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

11–50 employees

Short description

Seven Seas Insurance Company is a US-based marine cargo insurance carrier specializing in warehouse-to-warehouse all-risk coverage, open cargo policies, and single-shipment policies for transportation carriers, freight forwarders, NVOCCs, and importers/exporters. Founded in 1967, it operates as a Saltchuk subsidiary with an A.M. Best A rating.

Ownership category

akta.pro rank

Product category

Marine Cargo Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Ocean Marine Insurance (Hull, Cargo & Freight) (FSAJAHAA)

akta.pro secondary industry

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ)

Keywords

• Marine cargo insurance
• Cargo coverage
• Freight insurance
• Transit insurance
• Warehouse coverage

Headquarters

HQ city

Palm Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Cargo Insurance Premiums: Revenue generated from marine cargo insurance policies including single shipment policies and open cargo policies for frequent shippers. Coverage includes All Risk Warehouse to Warehouse protection with no deductible.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Seven Seas Insurance Company underwrites and sells marine cargo insurance products, providing All Risk Warehouse to Warehouse coverage with no deductible for goods transported by air, ocean, or inland carriers. The company offers Open Cargo Policies for frequent shippers and Single Shipment Policies for occasional transport needs, with direct in-house claims processing and a 30-day claims settlement commitment.

Product overview

Seven Seas Insurance Company offers a portfolio of cargo insurance products centered around marine cargo coverage for air, inland, and ocean transportation. The core offerings include Warehouse to Warehouse All Risk Coverage (with no deductible), Open Cargo Policies for frequent shippers, and Single Shipment Policies for occasional needs. Specialized programs are available for carriers and freight forwarders. All products emphasize direct access to decision-makers for efficient claims processing.

Differentiator

Problem solved

Functional benefit

Products and services

• Warehouse to Warehouse - All Risk Coverage Comprehensive cargo insurance coverage from warehouse to warehouse with All Risk protection against physical loss or damage from any external cause. Features no deductible, with coverage commencing from goods leaving the shipper's location through transit to final destination. Designed for shippers and carriers transporting cargo via air, inland, or ocean.
• Open Cargo Policy Annual agreement providing coverage terms and conditions for all cargo shipments under the contract. Ideal for importers and exporters shipping significant volumes throughout the year, offering streamlined coverage for frequent shipments.
• Special Cargo Policy / Single Shipment Policy Coverage for individual single shipments, providing protection for occasional or one-time cargo transport needs without requiring an ongoing annual commitment.
• Cargo Insurance Programs for Carriers Specialized cargo insurance programs designed for air, inland, and ocean carriers, allowing them to offer cargo insurance benefits to their customers while maintaining strong business relationships despite their limits of liability.
• Cargo Insurance Programs for Freight Forwarders and NVOCCs Insurance solutions enabling freight forwarders and Non-Vessel Operating Common Carriers (NVOCCs) to facilitate adequate cargo insurance offerings to their customers at competitive rates.
• General Average Coverage Coverage for expenses shared pro-rata by all parties when a vessel owner declares General Average. Includes assistance with cargo release through bond or cash deposit arrangement.

Quantifiable outcome

• Claims settled within 30 days of receipt when properly documented
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• SaltchukcoreStrategic or Co-development PartnerSeven Seas Insurance Company is a member of the Saltchuk family of companies. The company is aligned under common values of safety, reliability, and commitment shared across the Saltchuk organization.

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Chubb Marine Insurance: Global property and casualty insurer with a marine cargo practice covering ocean, air, and inland transit shipments. Seven Seas' President Yolanda Arrastia Grassi previously worked at Chubb, indicating direct industry overlap in marine cargo underwriting.
• Great American Insurance Group Marine: Diversified P&C insurer with a marine cargo division offering cargo and freight insurance for shippers and carriers. Overlap with Seven Seas is direct in cargo insurance products; Seven Seas' President previously worked at Great American's Miami office.
• Sompo International Marine: Global specialty insurer with marine cargo capabilities serving shippers, carriers, and freight forwarders. Comparable to Seven Seas in offering open cargo policies and per-shipment coverage but with significantly larger scale.
• Liberty International Underwriters Marine: Specialty insurance carrier offering ocean and inland cargo coverage globally. Provides a similar warehouse-to-warehouse product set as Seven Seas but with a wider international footprint and larger underwriting capacity.
• Travelers Marine Insurance: Large US insurer offering ocean marine cargo coverage as part of a broader commercial insurance portfolio. Provides the same warehouse-to-warehouse type of cargo protection as Seven Seas but as part of a multi-line carrier.
• Allianz Marine & Aviation: Global insurer with a dedicated marine cargo practice covering international shipments, including open cargo and single-shipment policies. Operates as a larger incumbent with broader geographic reach than Seven Seas.

Direct peers

• TT Club: Mutual insurance provider for the international freight transport industry, offering cargo and transport-related liability cover to freight forwarders, NVOCCs, and logistics operators. Comparable to Seven Seas in serving NVOCCs with specialized cargo products.
• UPS Capital Insurance Agency: Provides cargo and freight insurance solutions directly to shippers and carriers globally, including marine cargo coverage. Competitor to Seven Seas in the dedicated cargo insurance space for logistics and shipping customers.
• Roanoke Trade Services: Specialized marine cargo insurance provider serving freight forwarders, NVOCCs, and shippers with open cargo policies and single-shipment coverage. Direct competitor across the same customer segments and product types as Seven Seas.
• Marine Insurance Agency: Independent US insurance agency specializing in marine cargo and freight insurance for importers, exporters, and logistics companies. Comparable niche focus and direct customer approach to Seven Seas.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/seven-seas-insurance-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Seven Seas Insurance Company