Seasoned sailors and yachtsmen understand the potential risks associated with operating a yacht and take appropriate precautions, but accidents do happen. The most effective emergency plans incorporate insurance coverage that includes benefits such as emergency assistance, towing, search and rescue and medical evacuation.
The Marsh Private Client Services (PCS) Yacht Practice not only is dedicated to helping clients secure insurance protection that includes the coverage features they deserve, but also is committed to providing claims service in the event of a loss — no matter when or where a loss occurs. Clients can call to report a claim and receive immediate assistance from a dedicated Marsh PCS Yacht Claims Analyst through the emergency hotline, which is available 24 hours a day, 365 days a year.
Above and Beyond the Expected
A yacht captain contacted a Marsh PCS Yacht Claims Analyst early one morning to report that there had been a fire on the new yacht. Complicating matters, the vessel was in a remote area making immediate access difficult. Additionally, the owner had planned a family reunion on the yacht and needed the repairs to be completed in less than 20 days.
While on the phone with the captain, the Claims Analyst sent an urgent email to the insurance carrier alerting them of the fire loss and letting them know the detailed claim report would be coming shortly. The carrier quickly notified a surveyor, forensic specialists and a cleaning company that their services would be needed very soon.
Fortunately, the carrier was able to arrange for repair vendors to meet with the captain at the yacht the next day. Despite the challenging location, the cabinetry makers were able to work out of a local carpenter’s shop and the cleaning company hired additional crew to work through the weekend. In the end, the repair deadline was met; both the owner and the captain were extremely grateful for the timely support and assistance received from the Marsh PCS Yacht team.
It’s situations like this that demonstrate the passion that the Marsh PCS Yacht Practice has for protecting its clients and their yachts. Marsh understands that while these vessels are one of the most cherished assets to own, yachts also are among the most complex personal assets to manage and insure. It is the goal of Marsh to provide its clients with superior personal risk management solutions and service, so they can enjoy as much time on the water as they desire.
About the Author: Debbie Philibert is a Senior Client Advisor and the Yacht Claims Manager at Marsh Private Client Services. She can be reached at [email protected] or 212 345 0712.