Superyacht Specialist Yachtpod to Underwrite on Castel’s MGA Platform

Yachtpod Risk Partners has launched as an underwriting cell on the Castel Underwriting Agencies Ltd.’s MGA formation platform to offer dedicated superyacht insurance on a worldwide basis.

Yachtpod specializes in providing a “one-stop” shop for superyacht owners, captains and managers on specialist coverages including hull and machinery, increased value, war, medical expenses, mortgagees interest and loss of charter hire risks, through an exclusive panel of trusted brokers.

The cell’s capacity is provided by a number of Lloyd’s syndicates and London insurance companies.

The Yachtpod team is led by principals Iain Cotton and Vladimir Mirosevic-Sorgo. Cotton has over 30 years’ experience in marine business classes, with senior class underwriting and broking positions in the Lloyd’s and London markets. Previously, he was a director of Lead Yacht Underwriters Ltd., a wholly owned subsidiary of MS Amlin.

Mirosevic-Sorgo is a former director and class underwriter of Lead Yacht. The majority of his 30 plus-year insurance career has been spent broking and underwriting superyacht and marine hull business.

“Castel recognises the potential that exists within this market to deliver profitable growth through providing experienced underwriting and claims handling, and a fast and efficient service,” said Cotton, partner at Yachtpod. “The MGA formation platform provides us with the operational and support services that reflect our service-driven culture.”

“The launch of Yachtpod demonstrates the ability of our MGA platform to support specialist underwriters to establish and run their own businesses and optimize their growth potential,” said Mark Birrell, CEO of Castel.

Source: Castel Underwriting Agencies

Topics Underwriting Insurance Wholesale