NU Online News Service, Aug. 26, 1:35 p.m. EST
Markel American Insurance Co. says it is giving additional assistance to its Markel Helmsman Yacht policyholders who may be affected by Hurricane Irene.
Markel Helmsman Yacht policyholders are eligible is they carry the “Windstorm Extra Expense” coverage, which is provided for certain expenses incurred once a hurricane watch or warning is issued for the mooring location or if a watch or warning is subsequently issued within 24 hours, says Waukesha, Wis.-based Markel in a statement.
The 24-hour window will be relaxed prior to Hurricane Irene's arrival on the East Coast for yachts moored coastally from Virginia north
“When storms the size and magnitude of Hurricane Irene are forecasted, our claims examiners and underwriters understand the anxiety our policyholders may be experiencing,” says Tom Conroy, managing director of marine at Markel American, a provider of specialty products to a variety of niche markets. “Giving our policyholders a little bit more time to help ensure their boat is safe, gives them peace of mind.”
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