yacht insurance News

XL Group Adds Kidnap, Ransom & Extortion to Yacht Insurance

XL Group is adding a Kidnap, Ransom & Extortion Crisis (KRE) endorsement to its existing ShipShape and ShipShape Plus recreational marine insurance coverages, with limits up to $50 million. Under the new endorsement, yachts insured by ShipShape can choose liability …

GetMyBoat Boat Rental Service Launches Boat Rental Insurance

GetMyBoat, a global peer-to-peer and boat rental and charter marketplace, has launched a global boat rental insurance product. Customized coverage is offered to boaters who book through the company or through any other service or platform. Policies can be purchased …

Ironshore Personal Lines Launches Boat, Watercraft Coverage for High-Net Worth Clients

Ironshore’s personal lines unit now offers an endorsement option for personal watercraft coverage for high net worth insured homeowners.  Ironshore’s watercraft program provides “all risk” coverage for watercraft, including jet skis and boats.  Coverage can be obtained for multiple boats …

Ironshore Enters Yacht Insurance Sector

Ironshore Inc. is now covering high-end pleasure craft, yachts and mega yachts on a global basis.  James G. Bishop, Jr., with more than 25 years experience in the maritime sector, has been named to lead the unit that will provide …

American Modern Enhances Yacht Program in California, Washington

American Modern Insurance Group, a national specialty insurance carrier, has enhanced its yacht program in California and Washington, expanding coverage features in the base policy, repositioning endorsements as a way to increase limits, and lowering rates for experienced yacht owners. …

XL Group Launches Recreational Marine Coverage for Yacht Owners

XXL Group’s North America Marine insurance business has launched a new suite of recreational marine coverages tailored to yacht owners called ShipShape. With limits up to $50 million, ShipShape provides a variety of recreational marine coverages including: Liability coverage that …

Chartis Introduces Loss Prevention Services for Private Client Group Yacht Clients

Chartis has introduced a suite of loss prevention services for yacht insurance clients within its U.S. Private Client Group. Claims experience on Private Client Group policies underwritten by Chartis insurers has shown that the most common cause of reported yacht …

Miami Boat Captain Charged with Insurance Fraud Over Sinking of $1.8M Yacht

A Miami boat captain has been arrested on a first-degree grand theft charge for allegedly sinking a $1.86 million yacht in 2009 off the Bahamas. Florida Chief Financial Officer Jeff Atwater announced the arrest of Robert Figueredo by detectives from …