superyacht insurance News

Italian Sea Group Says It Is Not Liable in Mike Lynch Superyacht Sinking

Italian Sea Group is not liable in relation to the fatal sinking of Mike Lynch’s superyacht, which killed the British tech billionaire and six others, its chief executive said on Tuesday. The Bayesian was built in 2008 by Perini Navi, …

Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. The British-flagged 56-meter-long (184-foot-long) yacht, …

Captain of Sunken Superyacht Declines to Answer Prosecutors’ Questions, Lawyer Says

The captain of a superyacht that sank during a storm off Sicily last week, killing seven people, decided not to respond to prosecutors’ questions Tuesday, his lawyer said. James Cutfield, a 51-year-old New Zealand national, is under investigation for possible …

Captain of Sunken Superyacht Placed Under Investigation

Italian prosecutors have placed under investigation the captain of the superyacht that sank off Sicily last week in a storm, killing British tech magnate Mike Lynch and six other people, one of the captain’s lawyers said on Monday. James Cutfield, …

Complex Salvage Operations Begin as Last Body Is Recovered From Wrecked Superyacht

Italian divers have retrieved the body of British tech magnate Mike Lynch’s18-year-old daughter, Hannah, who was the last person still unaccounted for after the family’s luxury yacht sank this week off Sicily. Seven people, including Lynch himself, died when the …

Tornado-Like Waterspouts Are ‘More Likely’ as the Mediterranean Warms

The type of weather phenomenon that may have led billionaire Mike Lynch’s yacht to sink in the Mediterranean this week is now more likely to happen as global warming has raised sea temperatures, according to climate experts. The tech tycoon’s …

Hiscox Confirms Chairman Bloomer Died During Yacht Accident Off Coast of Sicily

Hiscox Ltd. issued a statement confirming that the insurer’s chair, Jonathan Bloomer, and Bloomer’s wife, Judy, died in the tragic sinking of the yacht Bayesian off the coast of Sicily on Monday, Aug. 19. “We are deeply shocked and saddened …

Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say

Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-meter-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter …

Update: Divers Retrieve 5th Body From Mike Lynch Yacht Sunk Off Sicily

Italian search and rescue teams have retrieved a fifth body from a sunken yacht off Sicily, where British tech tycoon Mike Lynch and Morgan Stanley International chair Jonathan Bloomer are among those feared to have died. The body was recovered …

Markets/Coverages: RSA Insurance Launches Superyacht Practice, Led by Chubb’s Grew

RSA Insurance announced it is launching a Superyacht practice, providing comprehensive cover for the larger end of the market, which is traditionally professionally skippered and crewed. The practice will be led by Emily Grew, who will join as a senior …