Most Owners believe that the job of a (Re)Insurance broker is to place the (Re)Insurances of their yacht at the most competitive terms obtained from reputable (Re)Insurers. That, however, is only a very small part of the service that we at International Broking Solutions, Corp (IBSCorp) provide, as our real job starts from the moment the yacht’s insurance is in place.
Intl. Broking Solutions, Corp (IBSCorp) as knowledgeable (Re)insurance broker can tailor the terms and conditions of a yacht (Re)Insurance policy to the specific requirements of both the Owner and the use of his yacht.
Our standard placement contract includes cover for:
- Hull and Machinery
- Protection & Indemnity (P&I)
- Crew Personal Accident and Medical expenses.
Hull and Machinery.
Provides cover to the yacht against the physical loss or damage. The most widely used wordings for this type of cover is the Institute Yacht Clauses (1/11/85) and/or the American Yacht Form R12.
Protection & Indemnity (P&I).
It protects the Owner, Captain and Managers from third party liabilities that could arise from the ownership or operation of the yacht.
Crew Personal Accident and Medical expenses.
This section provides cover to crew in respect of bodily injuries caused either by accident or illness. This policy can be used as a supplementary cover to your Protection and Indemnity Insurance Policy (P&I), as by having this kind of insurances in place, you will be able to cover smaller claims.
Surely, we can assist you to choose reasonable cover at fair price.
Please contact us for discussions regarding the parameters of cover needed.