We can investigate and negotiate on the best policies and quotes through our contacts with specialist brokers and underwriters for the optimum marine and crew health insurance policies for the yacht and crew.
The yacht, the crew and all passengers must be properly insured in the event of accident, incident or liability issue. Commercial yachts shall be insured for chartering activities and hold a greater third party liability or P&I coverage. The main insurance policies are:
- Hull & Machinery;
- P&I or Third party liability;
- Crew medical and accident cover.
If the crew members are not covered by a national social scheme of the flag state, the Employer will have to take a private medical and accident cover for each crew member in addition to the P&I or third party liability cover, as the cut-rates are high and not all risks covered. This also became compulsory with the MLC 2006 Convention on board commercial yachts.
