The Challenge
In 2023, Sea Machines, a pioneer in autonomous marine technology, faced challenges meeting contractual requirements due to gaps in its insurance program. Specifically, it lacked coverage for its autonomous technology, which is difficult to insure. This created a critical coverage gap.
The Solution
An investor introduced Sea Machines to Koop, which addressed these gaps with policies tailored for autonomous marine technology, including E&O and other essential coverages. This partnership comprehensively mitigated risk, laying the foundation for continued collaboration in compliance and insurance.
Looking Forward
With Koop’s ongoing support, Sea Machines is positioned to grow confidently, knowing its unique risks are fully managed. Since securing autonomous technology coverage, the company has expanded its policies to include cyber, property, directors and officers, and excess coverage.
Why Koop
Koop provides end-to-end risk and compliance solutions, empowering innovators like Sea Machines to succeed in emerging industries. Its expertise in complex autonomous systems made it an ideal partner in developing a comprehensive policy portfolio.
