Re: Boat Insurance During Pandemic


Matt Salatino
 

Second on recommending Gary Golden, Manifest Marine. He himself is a boat owner, Moody 46....

~~~⛵️~~~Matt

On Apr 17, 2020, at 2:46 AM, CW Bill Rouse <brouse@...> wrote:

All US Amel Owners,

Here is what I think: The change in the marine insurance business started in about 2011-2012 when large companies began to swallow smaller ones. The first sign we saw was the ridiculous denial of legitimate claims from some of these companies. Do you remember the episode with NIKIMAT insured by Helvetia? The next thing I saw was legally manipulated policy language which gave almost all rights to the companies. More recently, we see most of the rest of the companies who chose not to wrongfully deny claims or write unfair policies simply leave the marine market. Of course, insurance company losses caused a lot of this.

I believe that if I were in the market today, I would self-insure for all casualty losses and write a liability-only policy. If you are a US boat and have trouble finding an insurance policy or a liability-only policy (third-Party), I suggest that you contact Gary Golden, Manifest Marine. Manifest Marine was established in 2016 in the wake of its founder, Gary Golden, selling his interest in International Marine Insurance Services (IMIS), an agency he co‑founded in 1987.
CONTACT:
Manifest Marine  
604 Stonewall Lane
Fredericksburg, Virginia 22407
410-490-9020
Gary Golden, Director: Gary@...
I really like Gary and he is a knowledgeable insurance specialist for the marine market.

CW Bill Rouse Amel Owners Yacht School
Address: 720 Winnie, Galveston Island, Texas 77550 
View My Training Calendar


On Thu, Apr 16, 2020 at 6:35 PM Porter McRoberts via groups.io <portermcroberts=yahoo.com@groups.io> wrote:
This “boat insurance companies dropping policies” movement since Maria and Irma evades my understanding. I’m wondering if someone has some insight. I understand how the real or perceived risk has increased with global warming and storm frequency increases, but why then not just increase premiums to offset risk?  Why so many getting out of the business? Seems like something more, structural is afoot.  Anyone with insights?  
Appreciated. 
Porter McRoberts S/V IBIS. 
A54-152

On Apr 16, 2020, at 4:54 PM, Drew Gaffney <drew.gaffney@...> wrote:

Pantaenius has stopped offering insurance in the US and will not insure US Flagged boats, even imported in the EU.  My previous carrier will not write new policies for countries currently in “Lockdown”.
Does anyone have any suggestions regarding where to obtain insurance for our Amel in Sardinia, IT.
Thanks,
Drew
SV Revelation SM390
Lying Carloforte, Sardinia.

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