Re: [Amel Yacht Owners] Re: Insurance question in case of total loss


 

Alex,

I answered you off group.

Best,

CW Bill Rouse
Admiral, Texas Navy
Commander Emeritus
Amel School www.amelschool.com
720 Winnie St
Galveston Island, TX 77550
+1(832) 380-4970


On Sat, Oct 13, 2018, 16:43 Alexandre Uster von Baar uster@... [amelyachtowners] <amelyachtowners@...> wrote:
 

Good afternoon Bill,

But last November I “NEVER” received the renewal of the policy…
If I had, it would have been forwarded to my lawyers like everything else (marina suing me, etc.).

I definitely will forward the message to my lawyers to cancel the insurance..

Thanks again, sincerely, Alexandre

--------------------------------------------
On Sat, 10/13/18, Bill Rouse brouse@... [amelyachtowners] <amelyachtowners@...> wrote:

Subject: Re: [Amel Yacht Owners] Re: Insurance question in case of total loss
To: "amelyachtowners@..." <amelyachtowners@...>
Date: Saturday, October 13, 2018, 4:04 PM


 









Alex,
I do not know who
is giving you advice, but your contract states several ways
for YOU to cancel the contract. I think the insurance
company is morally and ethically very wrong, but the way I
read your contract, they are technically right, and, you are
wrong for not cancelling the policy under  the terms of the
contract.
If the person giving you advice has advised you not
to cancel, or if the
person advising you has said nothing about your ability and
responsibility to cancel, I think you need to get advice
from someone else (not me, as I am not
qualified).
Best,
CW Bill Rouse
Admiral,
Texas Navy
Commander
Emeritus
Amel School  
720 Winnie
St
Galveston Island, TX
77550
+1(832)
380-4970My
Calendar 

On Sat, Oct
13, 2018 at 2:53 PM Alexandre Uster von Baar uster@...
[amelyachtowners] <amelyachtowners@...>
wrote:















 









Good afternoon Bill & Bill,



Thanks for your replies.



Bill R.

So in my case the loss was Sept 6 (Hurricane Irma).

My Helvetia expired October 20.

They say they sent me a renewal but I never received it.


Then in January sent a letter that I owe the insurance, my
lawyers replied, then another letter in Feb, again my
lawyers replied, then again in March, my lawyers called and
the insurance told them that since they did not send the
letter via certified mail, this was not valid.

Since they hire a “collection agency” to ask for this
year’s premium (so Oct 20, 2017 to Oct 20 2018), which my
lawyers told me not to pay.

The insurance excuse is that I did not cancel the insurance,
but again I never received the renewal.

Their reason is that since I did not received the settlement
(because I contested it) the insurance has to continue…


And now they blocked the payment of the “partial” amount
(which is the one they offer, not the one that they owe).


No, I no longer own NIKIMAT, in fact I was told it was
shredded.

Thanks again for your help!



Bill K,

Thanks also for taking the time to reply and share your
policy.

My policy is definitely confusing to interpret, as yes,
article 8.4.4 I am supposed to keep paying the policy until
I receive the settlement.

Yes great incentive for them as should we go to court, it
will take 2 years...

Yes I was told that in case of total loss they would get the
entire year’s premium, even thought the loss could happen
at half the year… I wouldn’t mind that… but yes
wouldn’t be fair is you had a total loss early on the
year…

Anyway, thanks again for your reply.



Sincerely, Alexandre



--------------------------------------------

On Sat, 10/13/18, greatketch@...
[amelyachtowners] <amelyachtowners@...>
wrote:



Subject: [Amel Yacht Owners] Re: Insurance question in case
of total loss

To: amelyachtowners@...

Date: Saturday, October 13, 2018, 10:37 AM





 



















Alexandre,

(I

am not a lawyer, and give no legal advice, I just read
what

the policy says...)

Our policy from Pantaenious has no

such language in the event of a total loss. Your policy

language is very troublesome to me because it seems to

require you to keep paying premiums until you accept
their

settlement offer. Great incentive for them to drag it out
as

long as possible, and for you to settle for less than
you

are owed. 



Our policy has the

following, which goes to a similar point but, to me,
seems

much fairer to all parties:...

the annual premium is deemed

fully earned and non-refundable upon Pantaenius’

obligation to pay

any claim, cost or damage

reimbursement. Pantaenius shall have the right

to offset

any outstanding premium against any such obligation to

make payment on a claim, cost, or damage

reimbursement. 















In other words, if I (or they) cancel the policy
before

the end of the year, I receive a pro-rated
refund--unless

there has been a claim. In which case Pantaenius is owed
the

entire year's premium. If the entire year's
premium

has not yet been paid, they subtract the amount owed
from

the final claim settlement.  Payment of an owed
settlement

is not predicated on continued payment.  There is no

requirement for ongoing payments in order to get the

settlement for a loss covered by a valid policy, so no
time

pressure to accept the settlement, and no extra cash flow
to

them for being slow to pay.

To me, this seems only

fair.  They have averaged the risks over the entire
year,

and if I have a claim they should be paid for that full

year--no matter when the loss occurs. Our policy does
not

cover us one day at a time, but for the full year at one

go.

By way of an extreme

example, it would be unreasonable for me to have a total

loss on the first day of the policy year, and then expect
to

pay only 1/365th of the annual premium.

Again, not legal advice,

just my thoughts.

Bill KinneySM160, HarmonieAnnapolis, MD,

USA



---In

amelyachtowners@...,
wrote

:



Dear Amel owners,







On my insurance policy (Helvetia subscribed through

insurance DeLassee) it says (article 8.4.4) that my

insurance is automatically canceled in case of total loss
-

BUT (last line of that paragraph) that the insurance
only

stops when then settlement has been paid.







Which is why the insurance still ask me to pay the
premium

for this year and likely the next one (since it is 25%
less

than the agreed value I am contesting it).







Does your insurance says the same thing?







Thanks in advance, sincerely,

Alexandre













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