Ironshore introduced a new Luxury Yacht insurance program to provide coverage for high-valued yachts and mega yachts in the U.S. market.
The new program provides a stand-alone, customized policy for high end luxury yachts with hull values between $750,000 and $10 million. The coverage is underwritten on a road “All Risks” agreed value basis.
“Ironshore's team of production specialists work closely with our clients to customize a yacht policy that assures the broadest coverages for the unique characteristics of the yacht,” said James Bishop, project manager of Ironshore's yacht unit.
Policies are tailored to provide comprehensive all-in coverage to safeguard the distinctive features of the vessel, as well as provide protection for the captain and crew. Broad navigational limits are also included, as needed, for the yacht's cruising itinerary. Deductible-fee coverages and loss-free deductible reductions are also unique offerings with Ironshore's Luxury Yacht policy.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
