NYMGNew York Marine Group
NYMGNew York Metro Guide
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While NYMG will continue to write its core marine lines and select niche writings, it will run off business that either does not fit its revised marketing strategy or has proven generally unprofitable.
While nearly 30% of its premiums will be on an unseasoned book of business, approximately 70% of the company's premium volume will be from the NYMG pool (net of third-party reinsurance through NYMG's reinsurance programs).
Direct writings have policy limits of $1 million per occurrence, while its maximum loss under its NYMG pool participation is $250,000.