Major losses from shipyard incidents, fires on board, violent hurricane seasons and loss of towed tenders have all contributed to a changing insurance market place, reducing capacity and driving up premiums.
With the support of a global yacht practice, yacht owners and operators can access bespoke insurances:
- Builders risk for conversion construction and major refit
- Pre-delivery protection & indemnity (P&I) to protect the owner’s legal liability
- Pre-delivery crew personal accident and medical coverage, adaptable and tailored policies for crew 24/7 whilst employed by the insured whilst in the ship yard
- Crew personal accident and medical navigating polices, ranging from minimum requirement coverage to full comprehensive private medical benefits
- Guest medical coverage
- Personal effects coverage for assureds, guests and crew
- Hull & Machinery ‘all risk’ coverage
- War coverage
- P&I limits of USD 500,000,000 to USD 1 billion
- Fine art, bespoke policies for schedules of high value items on board
- Pollution liability
How can owners and operators navigate this turbulent risk environment?
By working closely with specialist yacht insurance markets, risk management and brokerage teams design programmes which provide appropriate coverage for the yacht and crew.
With access to international insurance markets and hubs of specialist teams across the world, yacht operators and owners can benefit from an approach to risk management that is truly global.
A team of in-house consultants, market leading negotiators, experienced brokers, and adjusters provide highly technical expertise and experience focused on superyacht risk management.
Each superyacht has a unique risk profile. With a specialist risk management team at the helm, owners and operators can navigate changing risks commercial pressures with confidence.