Why franchise is not common in marine insurance?

Franchising is not common in marine insurance primarily due to the complex and specialized nature of marine risks, which often require tailored solutions that traditional franchising models may not accommodate. Additionally, the marine insurance market is characterized by high variability in risk exposure, making it challenging to standardize coverage across different franchises. The need for in-depth expertise and the dynamic regulatory environment further complicate the implementation of franchising in this sector. As a result, insurers typically prefer direct underwriting and bespoke policies to address the unique needs of each marine operation.