Get essential yachting support & resources to navigate COVID-19. Learn more

RISK MANAGEMENT - CUSTOMIZED PROTECTION

Navigator News > Advice

Not every sailing yacht insurance program is created equal, so it’s essential to work with an insurance professional with deep knowledge of the risks unique to sailing yachts and one who can recommend an appropriate insurance solution.

John J. Gaffney, Marsh Private Client Services’ (PCS) Yacht Practice Leader and avid boater for more than 40 years, has developed a true understanding of the complexities of owning a sailing yacht. “Owners of sailing yachts need coverage beyond a traditional yacht insurance policy — they need a program that addresses unique sailing yacht risks, both on- and off-water risks, and is designed for global navigation,” Gaffney explains.

Advocacy Around the World

One example of a risk that can get overlooked is coverage and placement of spare-part containers that are shipped and stored along a sailing yacht route. “Not only does Marsh PCS make sure spare-part containers are properly insured and going where they need to go, but our team also can offer input on selecting drop-off points along the route

before a crew sets sail,” says Gaffney. If you race your sailing yacht, you want to ensure your navigation plans are defined ahead of time. The Marsh PCS Yacht Team can offer input on navigational limits and seek coverage terms that are compliant with U.S. regulations and international travel requirements. Once your crew reaches its destination, you’ll want to have insurance in place for non-owned or hired auto rentals to transport the crew. Marsh PCS can assist with auto coverage for rentals as well.

Support When You Need It Most

When a guest of yacht owner Michael P. suffered an injury while aboard his yacht, Michael was pleased with his decision to become a Marsh PCS client. “Twelve days after we bound coverage, we had an injury on board one of our yachts. I immediately filed a claim. John personally called me and said not to worry because his team would handle everything for us. This was very comforting since the injured party became litigious,” the owner said. Gaffney noted, “Beyond the insurance program, working with a trusted insurance professional can make all the difference in getting the personalized service and advice one should expect from policy implementation, in the event of a claim, and throughout the longevity of the relationship.”

The Marsh Private Client Services Yacht Practice can help you gain peace of mind knowing you have a specialized yacht insurance program in place and access to a 24/7 emergency claims hotline.
For a complimentary risk analysis, contact John Gaffney at 954-765-5682 or [email protected]
John Gaffney is Senior Vice President & Yacht Leader at Marsh Private Client Services.

OWNERS OF SAILING YACHTS NEED COVERAGE BEYOND A TRADITIONAL YACHT INSURANCE POLICY — THEY NEED A PROGRAM THAT ADDRESSES UNIQUE SAILING YACHT RISKS, BOTH ON- & OFF-WATER RISKS

Up Next in Advice

Back to Navigator News
THE YACHT INSURANCE REVOLUTION
Luxury travel and Superyacht Owner’s Choice Hotels
Dock and Dine on the Cote d’Azur at Hotel Du Cap-Eden-Roc
Legendary Travel Spots through Villefranche by Luxury Superyacht

THE YACHT INSURANCE REVOLUTION

Have you received your Yacht insurance renewal for 2019/2020? Do you have an out of… Read Article

Luxury travel and Superyacht Owner’s Choice Hotels

GLOBAL GEMS TRAVEL NEWS FROM AROUND THE WORLD Relais de la Costa - Sardinia Anyone… Read Article

Dock and Dine on the Cote d’Azur at Hotel Du Cap-Eden-Roc

THE GLORIOUS GRANDE DAME OF THE RIVIERA In a plum spot on the Côte d’Azur… Read Article

Legendary Travel Spots through Villefranche by Luxury Superyacht

The RIVIERA The Côte d’Azur is the perennial favorite destination for the yachting crowd, and… Read Article