Boston Marine Insurance Services

What Boston Marine Insurance Services does

Boston Marine Insurance Services (BMIS) is a specialty marine insurance agency that places inland and ocean marine coverage for commercial operators, recreational vessel owners, maritime museums, and small businesses. Its product portfolio centers on Inland Marine Insurance (covering risks such as Motor Truck Cargo, Builder's Risk, Contractor's Equipment, Installation Floaters, Warehousemen's Legal Liability, and Trip Transit), Ocean Marine Insurance (Hull and P&I, Bumbershoots, Marine General Liability, Ocean Cargo, Marina Packages, Mega-Yacht, Stevedores/Wharfinger, and Ship Repairer's Legal Liability), a proprietary Maritime Museums Insurance Program, and a Small Business In-House Program with a $750 minimum premium. The firm operates under Cross Insurance, a subsidiary of Cross Financial Corp., following a rebranding that integrated BMIS as a marine specialty division within the larger New England-based agency network.

The business model is commission-based: BMIS earns commissions from insurance carriers for placing business, operating exclusive binding authorities with multiple A-rated carriers that allow in-house underwriting and policy issuance for certain Hull & P&I and Marine General Liability accounts. Pricing is quote-based and not publicly disclosed, with a disclosed $750 minimum premium for eligible small-business inland marine risks. Go-to-market is sales-led, leveraging Cross Insurance's direct agency force, website-driven quote requests, and broker/agent referrals from agencies seeking marine placement expertise. The firm reports 65+ years of combined staff experience in marine insurance and 30+ years of underwriting experience as the basis of its specialty value proposition.

BMIS serves four primary customer segments — commercial marine businesses, recreational marine owners, maritime museums, and small businesses — through a vertical segmentation approach. The firm maintains affiliations with Professional Insurance Agents, Trusted Choice, and Independent Insurance Agent associations through the Cross Insurance brand, and supports lead generation through the Cross Insurance website and social media channels. Operating status is active as a marine division within Cross Insurance, with 1–10 dedicated staff and a regional footprint.

Name

Boston Marine Insurance Services

Legal name

Boston Marine Insurance Services

Website

https://bostonmarineins.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Boston Marine Insurance Services is a specialty marine insurance agency placing inland and ocean marine coverage for commercial operators, recreational vessel owners, maritime museums, and small businesses, now operating as a division within Cross Insurance.

Ownership category

akta.pro rank

Product category

Marine Insurance Brokerage

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB)

akta.pro secondary industries

Ocean Marine Insurance (Hull, Cargo & Freight) (FSAJAHAA), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH), Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ)

Keywords

• Marine insurance
• Inland marine
• Ocean marine
• Marine insurance brokerage
• Commercial marine coverage

Headquarters

HQ city

Quincy

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Insurance Commissions: As an insurance agency specializing in marine insurance, the company earns commissions from insurance carriers for placing business. They operate exclusive binding authorities with A-rated carriers for inland and ocean marine accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Boston Marine Insurance Services is a specialty marine insurance agency that places inland and ocean marine coverage through exclusive binding authorities with A-rated carriers. The firm serves commercial marine businesses, recreational vessel owners, maritime museums, and other insurance agencies/brokers seeking marine risk placement, and is now operated as the marine insurance division of Cross Insurance (Cross Financial Corp.).

Product overview

Boston Marine Insurance Services (BMIS), formerly branded as Boston Marine Insurance Services and now part of Cross Insurance, offers a comprehensive marine insurance portfolio. The core offerings consist of Inland Marine Insurance and Ocean Marine Insurance products, supplemented by a proprietary Maritime Museums Insurance Program. BMIS also provides exclusive in-house binding authorities for inland and ocean marine accounts with A-rated carriers, including specialized small business programs with a $750 minimum premium and single-shipment trip transit facilities. With over 65 years of combined experience and 30 years of underwriting expertise, the company places risks through in-house exclusive programs and relationships with marine underwriters.

Differentiator

Problem solved

Functional benefit

Products and services

• Inland Marine Insurance

Quantifiable outcome

• Minimum premium of $750 available for eligible small business inland marine risks

Segments4 records

Ideal customer profiles5 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.

• A-rated Insurance CarrierscoreOthersBoston Marine Insurance Services maintains exclusive binding authorities with multiple A-rated insurance carriers for inland and ocean marine accounts. These partnerships enable the company to offer competitive coverage options and exclusive in-house programs not available through standard markets.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• RPS (Risk Placement Services): RPS is a major wholesale insurance distributor specializing in placing complex and specialty risks, including a substantial marine practice. It is directly comparable to BMIS because both act as intermediaries leveraging binding authority and carrier relationships to place inland and ocean marine coverage for retail agents and insureds.
• Heffernan Insurance Brokers: Heffernan is a mid-sized independent insurance brokerage with specialty marine and transportation practices serving commercial and recreational marine clients. Comparable to BMIS as a similarly sized independent agency offering both inland and ocean marine placement through carrier relationships.
• Crouse & Associates Insurance: Crouse & Associates is a mid-Atlantic specialty insurance brokerage with a marine and inland marine practice serving marinas, boat dealers, marine contractors, and commercial marine operators. Directly comparable to BMIS in size, vertical focus, and reliance on binding authorities with marine carriers.
• Amwins Group: Amwins is one of the largest specialty wholesale distributors in the U.S. with dedicated marine, ocean cargo, and inland marine practices placing business via binding authority with carrier partners. Directly comparable to BMIS's wholesale marine placement model at larger scale.
• Burns & Wilcox: Burns & Wilcox is a leading specialty wholesale insurance broker with a dedicated marine practice placing hull, P&I, cargo, and inland marine coverage. It mirrors BMIS's wholesale placement model, carrier binding authority approach, and specialization in risks that standard markets decline.
• Brown & Riding: Brown & Riding is a specialty wholesale insurance broker with deep marine and energy expertise, placing ocean cargo, hull, marine liability, and inland marine business. Comparable to BMIS as a specialty intermediary whose value is built on underwriting expertise and carrier access for hard-to-place marine risks.

Broad incumbents

• Aon: Aon operates a global marine practice placing hull, P&I, cargo, and marine liability coverage for large commercial fleets and shipowners. Comparable as a competitor in marine insurance placement, though at much larger scale and with broader portfolio rather than specialty-niche focus.
• Marsh (Marsh McLennan): Marsh operates a dedicated marine practice under Marsh Specialty, placing ocean marine, marine liability, and inland marine business for large commercial clients globally. Comparable to BMIS in marine product breadth but at enterprise scale, serving large fleets and ports rather than mid-market marine operators.
• Lockton: Lockton is the world's largest independent insurance brokerage with marine, transportation, and cargo practices placing business for mid-market and large clients. Comparable in marine product offering but competes from a position of scale, multi-region presence, and broader industry verticals.
• Arthur J. Gallagher & Co. Gallagher is a global insurance brokerage and risk management firm with a marine and recreational marine practice placing hull, P&I, and inland marine coverage. Notably owns RPS (Risk Placement Services), making it both a broad incumbent and the parent of BMIS's closest direct peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/CrossInsurance
• LinkedInlinkedin.com/company/boston-marine-insurance-services-llc
• Instagraminstagram.com/cross.insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Boston Marine Insurance Services