Re: Insurance in Europe
Craig & Katherine Briggs SN 68 Sangaris Tropic Isle Harbor, FL
Hi Matt,toggle quoted messageShow quoted text
These insurance companies are more inbred than Hogan's goat, but, yes, I think Pantaenius USA is the happy one - for US boats in Europe or non-tropical storm areas of the US (can't speak to the Pacific). Like virtually all of these companies they are underwritten by pools of international underwriters, and, so, seeking a "US Insurer" isn't really a possibility. IMIS/Gowrie/Jackline, for example, is underwritten by Markel Insurance Company, a Virginia corporation, but they place their underwriting with dozens of companies, many foreign, like Lloyds of London. Similarly, the various Pantaenius companies are underwritten by pools of underwriters. Basically, they are all marketing arms, packaging up various products for us.
IMIS, for example, was started by Al Golden, a good friend well known to many in the SSCA. He created the Jackline Policy to meet the needs of the cruising community, of which he is a part and continues to strongly support through SSCA and others - he's pretty much retired now and his son has taken the reins. All great folks who have a true value added to a nameless cadre of underwriters because they know the market and can make things happen if there's a claim.
Even the "most American" company for insurance, Boat US, runs their policies through GEICO, but as much as we love their gecco their underwriters are a world-wide group of insurance carriers.
I've had great experience with Pantaenius USA even though I never had a claim, but they do use non-USA, A-rated underwriters like Lloyds of London and a bunch of others. They do have really helpful agents in the US, like Scott, and that's worth a lot.
Now, I did have one claim with Pantaenius' parent organization in Germany when I had a lightning strike while my boat was on a freighter (you're not covered by your normal policy if you're being transported - you need a separate policy). Pantaenius-Germany's service could not have been better and they paid out in full as soon as I got the paper work and quotes submitted. I have no idea who actually supplied the funds for that - it's all behind the scenes in international underwriting.
So do check to see who the underwriters are for whatever company's name is on your policy and see that they are highly rated. Other than that, you've simply got to judge the credibility of the agent you're dealing with.
Craig SN68 Sangaris
On Sat, Aug 24, 2019 at 07:42 PM, Matt Salatino wrote: