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Yacht Insurance

DT&F: Expanding New Yacht Construction Business in U.S.

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Following its assessment of activity at this year’s Monaco Yacht Show, Dwight Tracy & Friends Yacht Sales announced expansion of its program for representing new construction shipyards, both in the U.S. and Europe.  According to DT&F founder and CEO Dwight Tracy, “The current strength of the euro against the U.S. dollar, and the current situation in our domestic new yacht market, makes this a time of opportunity for European yacht buyers in search of first-quality vessels. The key, however, to a successful buying experience is to have representation that is knowledgeable and experienced. We’ve positioned ourselves with a New Build Program that is led by a former CEO of world renowned new build shipyard, Palmer Johnson Yachts. So, when we say that DT&F can deliver to a client the best and most successful new yacht purchase experience available, we really can. No ands, ifs, or buts.” According to New Build and Refit Program director Phil Friedman, the latest DT&F initiative is an omnibus menu of value-added services that includes initial concept development to project planning, build team coordination, project management, owner representation, and ancillary support in the areas of finance and insurance. Noted designers, naval architects and engineers, shipyards


Builders Risk Policy Serves as Inland Marine Insurance

The US Court of Appeals for the Seventh Circuit ruled that, under Michigan law, a builders risk insurance policy is a form of inland marine insurance and is controlled by the statute of limitations applicable thereto. For our purposes, the decision is probably most interesting in its historical analysis of the insurance industry and the division of casualty insurance into two large groups: fire insurance and marine insurance


Drydocks World spearheads the launch of DCMMI

Khamis Juma Buamim addressing the meeting

Drydocks World, a service provider in the maritime industry, has announced  the formation of the Dubai Council for Marine and Maritime Industries (DCMMI), a specialized non-profit trade and industry council to promote the interests of the marine and maritime industry in Dubai and the UAE. DCMMI represents a wide cross-section of the UAE’s marine and maritime industry such as Offshore & Engineering, Ship Repair & Maintenance, Shipbuilding & Conversion, and Rig building


DOT Offers Insurance For Commercial Ship Owners

Maritime Administrator William G. Schubert today announced that the Maritime Administration (MARAD) is now accepting applications for war risk insurance to cover commercial ship operations in the Middle East. President Bush authorized the Department of Transportation (DOT) to provide the insurance at the request of Transportation Secretary Norman Y. Mineta. U.S.-flag vessels are eligible, as are ships owned by U.S. companies


MN 100: Gencorp Insurance Group

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The Company: Gencorp Insurance Group provides the Insurance and Surety needs of Marine Contractors, Vessel Operators and Shipyards throughout the country and Caribbean. Gencorp’s Marine Group facilitates the coverage placement and claims settlement for all insureds, utilizing a team that has a Maritime Academy background or professional waterfront experience. Ask any group of Owners to design and build a full service insurance brokerage with all of the services and resources that they


Vessel Title Insurance Helps Protect Assets

By Sharon Donovan When maritime liens turn up, an unsuspecting vessel owner and the lender can be left in the wake of a deal gone sour. But thanks to a new form of title insurance tailored to the maritime industry, owners, lenders and lawyers who might have green-lighted the transaction with a legal opinion are insulated from the potential risk. First American Transportation Title Insurance Co., a member of The First American Corp


Moore Stephens Strengthens Regulatory Advisory Team

Moore Stephens has further strengthened its regulatory advisory capability with the appointment of John Westlake as compliance manager. John Westlake has a broad perspective of the insurance industry acquired through a variety of roles, which has enabled him to support insurers and brokers in establishing effective compliance solutions. He has a strong commercial background, having acted as operations director with a personal lines insurer


Proposal on Spray Painting Passes

NMMA in conjunction with Lauderdale Marine Center (LMC) and the National Fire Protection Committee on Spray Finishing, recently drafted and approved a new standard which reduces the fire risks of spray painting large objects, including yachts in temporary membrane enclosures. Temporary membrane enclosures are used in the marine industry to paint yachts that are too large to fit in a spray booth. The standard not only makes painting safer but eases the concerns of fire marshals and regulators


DSG Marine Asks Shipowners to Consider Fixed Premium P&I Cover

Photo courtesy of DSG Marine

P&I Insurance Seminar for Owners and Charterers held in Mumbai DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I Facility, has advised Indian shipowners to consider the benefits of fixed premium P&I cover. DGS Marine spoke at a P&I Insurance Seminar held in Mumbai, India last week and jointly hosted by DGS Marine Group and the British European and Overseas (BE&O) P&I Facility


Engstrom is Named Willis' Seattle CEO

Willis has named Chris Engstrom CEO of its Seattle office, one of the global insurance broker's leading U.S. operations. Engstrom brings tremendous local market knowledge and 16 years of insurance industry experience. He previously served as senior vice president for Wagle Insurance Companies in Seattle.


PensionDanmark, Danica Roll Out $300mln Maritime Investment Fund

Photo: PensionDanmark A/S

 PensionDanmark, Danica and Navigare Capital Partners have established the Maritime Investment Fund I, which, based on capital from the founders, shall build a diversified portfolio of maritime assets including dry bulk, container, offshore, product, crude oil and chemical tankers


Parramatta Saves Yachtsmen in Southern Ocean

HMAS Parramattas Seahawk helicopter moves into position above stricken yacht Jedi 1 and prepares to winch her crew to safety. Photo: Royal Australian Navy

 Australian Navy frigate, HMAS Parramatta has rescued three South African sailors from a stricken yacht approximately 1,300 kilometres southwest of Cape Leeuwin in Western Australia.   The three yachtsmen of the 13-metre yacht activated an emergency response beacon late on 17 March


Viega Names Fortuny Technical Manager

Yasmin Fortuny (Photo: Viega)

Viega LLC has hired Yasmin Fortuny as its new technical manager for its shipbuilding and cruise business development division in the Florida, Puerto Rico, Bahamas and Caribbean regions.   In this position, Fortuny is responsible for positioning Viega as the primary choice for marine


Hansen Joins Hempel as CCO

Michael Hansen (Photo: Hempel)

Hempel has appointed Michael Hansen as its new executive vice president and chief commercial officer (CCO). He will join the coatings manufacturer’s executive management board on 1 May, reporting directly to group president and chief executive officer (CEO), Henrik Andersen.  


Marlink Announced as Telenor Satellite’s Platinum Partner

Telenor Satellite has announced that Marlink, a worldwide satellite communications provider, has been assigned Platinum Service Provider status for the provision of services on the THOR 7 satellite.   Marlink is now integrating its full range of Value Added Services into the THOR 7 product


Rossinavi Launches Endeavour II

Photo: Rossinavi

 Italian yard Rossinavi has launched its new 49.9-metre superyacht Endeavour II during a ceremony attended by 300 guests and shipyard staff. Known as project FR032, the yacht is built entirely out of aluminium to a design by Team 4 Design.  


You know you've arrived when ...

(Image: Damen)

You order your new 227-ft. Yacht Support vessel with its own helicopter hangar. Damen, an innovator in various marine sectors, has launched Game Changer, its latest 227-ft. (70 m) Damen, Yacht Support vessel with helicopter hangar. Available for the 2017 summer season


Marine Professionals commemorates 20th anniversary

MPI 20th Anniversary Logo

Marine Professionals Inc. (MPI) is marking its 20th year in business, kicking off a year-long commemoration with a new celebratory logo and a secondary, complementary visual.  The anniversary logo symbolizes MPI’s success over the past 20 years


Maritime Cook Islands Technical Department Reconstituted

Rachele Andreani Photo MCI

Maritime Cook Islands Reconstitutes Its Technical Department –FourNew Senior Appointments to ProvideEnhanced Technical Expertise to Ship Owners Maritime Cook Islands (“MCI”), the international ship registry, hassignificantly enhanced its technical department with a series of


Simrad Yachting:Yamaha Command Link Plus Integration

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Simrad Yachting announced today an agreement with Yamaha to integrate the Command Link plus interface into Simrad systems. The Yamaha Command Link Plus system allows boaters to monitor the performance of up to four  amaha outboard engines and critical boat systems on the same screen


Fincantieri, Ferretti Group join forces

Fincantieri and Ferretti Group today announced they have signed a wide-ranging co-operation agreement , with the aim of developing industrial and commercial synergies between the world's two leading Italian companies in their respective sectors.


Unlockable Feature for Simrad Halo Pulse Compression Radar

Photo Simrad

Simrad Yachting announced today a new, unlockable add-on feature for Halo Pulse Compression Radar Systems – VelocityTrack. Increasing boater awareness, VelocityTrack provides instant visual feedback on the motion of radar targets in relation to the boat, reducing the risk of a collision.


Royal Navy's HMS Dragon Rescues Yacht Crew

The sea boats from HMS Dragon went to help the 14 sailors in the Atlantic ocean. Photo: Royal Navy, UK

 Type 45 destroyer HMS Dragon rescues 14 stricken sailors from damaged British racing yacht.   "The crew of Dragon have rescued 14 sailors in treacherous weather conditions today after a racing yacht suffered damage in the Atlantic ocean," says a statement from Royal Navy.


WFSA Ferry Safety & Technology Conference set for May

File Image (CREDIT: WFSA)

Mark your calendars- Ferry Safety & Technology Conference, May 11- May 12, in New York.   The Worldwide Ferry Safety Association is now gearing up for its 2017 Ferry Safety & Technology Conference, which will be held May 11 – 12


Volvo Ocean Race Legends Gather

Photo: Volvo Ocean Race

 The Volvo Ocean Race will celebrate 45 years of history with a Legends Race on the final leg of the 2017-18 edition from Gothenburg to The Hague, says a press statement.   Any yacht to have featured in the Whitbread Round the World Race or Volvo Ocean Race, dating back to 1973-74






 
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