Re: [Amel] Lemma Insurance Bankruptcy

john martin <symoondog@...>

Hi Gary, Sorry to hear of your bad luck. We were with Lemma until recently but (due to no foresight about their bankruptcy, we simply needed different coverage) we just got a new policy with ACE American Insurance Company provided by Morgan Wells with Jack Martin & Associates Insurance in Annapolis. 800-421-8818. We found the new policy & premium to be very competetive for sailing the Caribbean area. Good luck !John & RuthMOON DOGSM 248
To: amelyachtowners@...
From: no_reply@...
Date: Mon, 22 Oct 2012 17:13:45 +0000
Subject: [Amel] Lemma Insurance Bankruptcy

I have had my Amel SM insured with Lemma Insurance (Lemma Europe Insurance Company) through Bill Coats at Offshore Risk Management of Florida. On 17 Oct 2012 I received an eMail from Offshore Risk Management indicating that Lemma Europe is in liquidation and that, while my policy is in force, there is a strong possibility that there be insufficient funds to pay future claims.


I have roughly 1/4th of my annual $US 6,500 premium tied up in this now bankrupt company.

I would welcome any thoughts from the readership on different brokers or insurance companies. I feel like I need to secure alternative insurance soon, just in case. I think I will go with a USA company since things look so bleak for Europe right now (not that they are all that great for the USA).

My boat is on the hard in a cradle in Jolly Harbor Antigua. We have kept the boat in the hurricane box for each of the last 6 years. The one time we brought the boat out of the box was to Florida where we had 3 hurricanes come close, one within 60 miles of our boat, while there. We finally went back to the Caribbean where we have felt safer from hurricanes.

Thanks for your input.

Gary Silver

Amel SM 335

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