July 20, 2016

Protection and Indemnity Insurance for Yachts



The same principals apply as to insuring the Hull, owners should always use a specialist Protection and Indemnity Isurance Broker.

Third party is generally included within the Hull for small yachts, however the bigger the vessel’s size, tonnage and number of crew are key factors, as more liability cover will be required to protect the owner against damage done to third parties and the risk of being sued is quite often inevitable when higher valued vessels are involved with accidents.

P & I Clubs, Mutual and non-Mutual fit this role and can offer a whole raft of coverage and conditions to suit specific needs, again specialist knowledge is required to ensure that you are covered sufficiently.

Protection and Indemnity insurance, like the Hull, is a vast subject and only specialist brokers should be approached to make sure you not only get the right cover (with Conditions to suit), but also the backup of an experienced P & I Claims Department.

Our associate company, New World Marine Insurance Consultants Ltd is our specialist department where Mr Alan Thomas (principal) was a leading P & I underwriter for 25 years in the London market, before forming New World Marine.

Together YIS, NWM and members of our team can give 24/7 attention and swift response to problems that occur, being highly experienced to meet the requirements of the owners of chic superyachts.

We are always there to advise and help when needed.