N&J Private Insurance Services is upping the ante on the insurance products available to Northrop & Johnson clients. In addition to all of the standard insurance programs you’ll need when owning a yacht, the group is adding some extra customized programs offered only by N&J Private Insurance Services. Two of these products are Trip Cancellation Coverage and Worldwide Crew Medical Programs.
The Trip Cancellation Coverage protects the charterer from a loss due to cancellation of that charter. A charter client is able to purchase this policy to guarantee his or her investment is safeguarded despite any incidents, including, but not limited to sickness, injury or death, passport theft, work related issues, inclement weather, mechanical breakdowns, etc. An SE version that provides up to $50,000 of coverage for each member of the charter and a LX program that provides up to $100,000 of coverage per member of the charter group. Each program will clearly state the “covered reasons” for the trip cancellation or interruption. Additional benefits include missed connections, change fees, reimbursement of miles/reward points, rental car damage, baggage delays, etc. This program will be applied after the charter contract has been signed and the deposit made. The Trip Cancellation program allows charter guests to book their holidays without the fear of losing out on their trip or investments despite the uncertainties of life.
The Worldwide Crew Medical program allows Northrop & Johnson yachts to offer their crewmembers a unique benefit usually not afforded to crew: comprehensive health insurance. This worldwide coverage includes everything from in- and out-patient medical expenses, dental, vision and pharmacy care. There is no preexisting condition exclusion. Different plans are available which can include individual or family and can provide a low deductible of ($250 per member per year). This program is a perk to any crew compensation arrangement and is likely to entice top-quality crewmembers and help build crew retention.
Both services will be available as of January 1, 2019. For more information on these exceptional insurance products offered by N&J Private Insurance Services, please contact John Gaffney (John.Gaffney@NorthropandJohnson.com). Protect your Passion so you can confidently cruise anywhere in the world.