Beazley Launches Pleasure Craft Cover on E-Trading Platform

January 13, 2017

Beazley, a specialist marine insurer, announced that its custom pleasure craft insurance is available to quote and bind via the myBeazley online risk platform.

Beazley pleasure craft policies cover a wide range of vessels, from small boats to luxury yachts, and feature 24/7 emergency claims notification backed by in house claims managers, the company said in a statement.

The product is offered in the UK and for Mediterranean-based vessels, a Beazley official said.

Beazley’s e-trading platform allow brokers to obtain quotes in minutes for many of Beazley’s specialist insurance products, and then bind immediately upon acceptance, with the provision of full documentation being available at point of sale, the statement continued.

The Beazley pleasure craft policy provides all risks cover for vessels up to £10 million ($12.2 million) in value and includes cyber cover for losses to navigational and self-steering equipment resulting from malicious code or unauthorized use.

Beazley said its exclusive relationship with Datatag™ provides pleasure craft policyholders with the ability to permanently mark and protect their assets, including outboard engines and other removable boat components, to deter thefts and increase recovery of stolen assets.

“Brokers and clients appreciate the clear and concise wording in our policies and the broad coverage…,” said Ian Hoy, pleasure craft underwriter at Beazley.

“The release of our pleasure craft product within our myBeazley online platform enables brokers to efficiently offer our specialist pleasure craft product to their clients,” he added.

Source: Beazley

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