Steamship Mutual provides a Yacht Liability insurance product for luxury super and mega yacht owners, operators, charterers and fleet managers. Steamship Mutual has created a new liability product that is tailored to meet the specific requirements of those operating in the luxury super and mega yacht market. Underwritten on a fixed premium basis, coverage limits will be available from US$1 million increasing to US$500 million for the world’s largest sized yachts.
Stephen Quartermaine, Head of Underwriting at Steamship, said,
“Given our already strong position in the passenger and cruise sector, this move into the Yacht Liability market is a natural step for Steamship Mutual. Unlike many yacht insurers, our size, experience and global reach allows us to underwrite business in excess of hull values and without restrictions on trading areas or domicile. Our new product will offer enhanced coverage on terms much wider than generally available in the commercial market”
The Club's product has been developed to focus on the escalating growth in the super and mega yacht market. As yachts increase in size and are ever more subject to legislation, growing numbers of yacht owners and operators require the service and capacity of an expert liability insurer at levels in excess of hull value. Steamship Mutual is uniquely well qualified and experienced to meet those specialist needs.
Key Features
- Fixed Premium.
- Wider cover than generally available elsewhere.
- Limits from US$1 million to US$500 million per event.
- Cover is available to Owners, Operators, Managers, Charterers, Concessionaires and others by agreement.
- In depth claims handling and loss prevention services from the Club's experienced and qualified staff.
- A worldwide network of correspondents and lawyers.
- Access to marine threat assessment and security planning advice.
Yacht Insurance Application Form - Click here to download in MS Word Format
Click here to view the Club's Yacht Insurance Brochure
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