YIS can tailor-make your insurance to suit the requirements to the size of the yacht's value, gross tonnage and the owner's cruising requirements. The same principals apply as to insuring the Hull, owners should always use a specialist P & I Broker. Protection and Indemnity insurance, commonly known as P&I, is insurance in respect of third party liabilities and expenses arising out of the ownership or operation of the yacht.
We can also offer Yacht Owners Liability to Employed Crew coverage for owners of British flag (Red Ensign) yachts that have a requirement to provide employers liability coverage to comply with the owner's obligations under the Merchant Shipping Act for their full time or part time professional crew. We can also provide coverage for European flagged yachts on a similar basis including "Faute Inexcusable" for French based/flagged yachts.
We can also offer Yacht Owners Liability to Employed Crew coverage for owners of British flag (Red Ensign) yachts that have a requirement to provide employers liability coverage to comply with the owner's obligations under the Merchant Shipping Act for their full time or part time professional crew. We can also provide coverage for European flagged yachts on a similar basis including "Faute Inexcusable" for French based/flagged yachts.
Services
Yachtsman Insurance Services was formed in 1999 as a dedicated Insurance Broker/Consultancy to the yacht industry, giving personal advice and service for yacht Insurance on a private and confidential basis to yacht owners.
Previously the Proprietor, Mr Keith Shepherd was the Manager of various Marine claim departments of International Lloyds Brokers for 14 years before forming Hunter & Shepherd Ltd in 1976 as a specialist Yacht and Superyacht Insurance Broker.
They had Agents worldwide with offices in all marinas from the French/Italian border to St Tropez.
Previously the Proprietor, Mr Keith Shepherd was the Manager of various Marine claim departments of International Lloyds Brokers for 14 years before forming Hunter & Shepherd Ltd in 1976 as a specialist Yacht and Superyacht Insurance Broker.
They had Agents worldwide with offices in all marinas from the French/Italian border to St Tropez.
The days have long gone that one policy fits all yacht requirements.
Today Hull Insurance for Giga - Mega - Super and Yachts under 30 metres are insured under different sets of conditions (Marine Insurance Clauses).
YIS can tailor-make your insurance to suit the requirements to the size of the yacht's value, gross tonnage and the owner's cruising requirements.
Some smaller yachts are still insured under the traditional Institute Yacht Clauses, but for the larger vessels the IYC is not sufficient and there lies the technical expertise of an experienced Specialist Broker who can give advice and insure the vessel with a different set of marine conditions to cover the vessel and owner's needs.
Today Hull Insurance for Giga - Mega - Super and Yachts under 30 metres are insured under different sets of conditions (Marine Insurance Clauses).
YIS can tailor-make your insurance to suit the requirements to the size of the yacht's value, gross tonnage and the owner's cruising requirements.
Some smaller yachts are still insured under the traditional Institute Yacht Clauses, but for the larger vessels the IYC is not sufficient and there lies the technical expertise of an experienced Specialist Broker who can give advice and insure the vessel with a different set of marine conditions to cover the vessel and owner's needs.
The same principals apply as to insuring the Hull, owners should always use a specialist Protection and Indemnity Isurance Broker.
Third party is generally included within the Hull for small yachts, however the bigger the vessel's size, tonnage and number of crew are key factors, as more liability cover will be required to protect the owner against damage done to third parties and the risk of being sued is quite often inevitable when higher valued vessels are involved with accidents.
P & I Clubs, Mutual and non-Mutual fit this role and can offer a whole raft of coverage and conditions to suit specific needs, again specialist knowledge is required to ensure that you are covered sufficiently.
Third party is generally included within the Hull for small yachts, however the bigger the vessel's size, tonnage and number of crew are key factors, as more liability cover will be required to protect the owner against damage done to third parties and the risk of being sued is quite often inevitable when higher valued vessels are involved with accidents.
P & I Clubs, Mutual and non-Mutual fit this role and can offer a whole raft of coverage and conditions to suit specific needs, again specialist knowledge is required to ensure that you are covered sufficiently.
Employers Liability Insurance is for the protection of owners against claims being made against them by their employees (crew and the like).
If an accident occurs to an employee (lets say crew member) on board the yacht and it can be proven that the owner is negligent (Note: the owner does not have to be on board at the time of the incident) then depending on the severity of the incident, a claim could be brought against the owner.
For yachts where the Third Party insurance is placed within the Hull policy, it is advisable to take out separate EL insurance.
If an accident occurs to an employee (lets say crew member) on board the yacht and it can be proven that the owner is negligent (Note: the owner does not have to be on board at the time of the incident) then depending on the severity of the incident, a claim could be brought against the owner.
For yachts where the Third Party insurance is placed within the Hull policy, it is advisable to take out separate EL insurance.
This insurance is probably best kept separate from the Hull policy, as not only are the benefits greater, but if there are any claims under the Medical policy it will not affect any possible increases that may be applied to the Hull policy, thus protecting any rebates that are available.
A Medical and Travel Policy can be insured under a group scheme in the name of the company owning the yacht.
It is important to note that it protects the crew on and off the yacht in working hours as well as leisure time, provided they are always employed by the owing company.
A Medical and Travel Policy can be insured under a group scheme in the name of the company owning the yacht.
It is important to note that it protects the crew on and off the yacht in working hours as well as leisure time, provided they are always employed by the owing company.
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