Boat Insurance News

Facing rising costs, an Icelandic tour operator is using technology powered by artificial intelligence (AI) to enhance safety and slash insurance premiums for its fleet of high-speed rigid inflatable boats (RIB).Reykjavík-based Whale Safari runs tourist RIBs for whale and bird watching excursions in Iceland. From an insurer’s standpoint, the endeavor—which sees vessels that seat up to 12 passengers achieving high speeds and g-force wave impacts—is inherently risky. To make matters worse for companies like Whale Safari…

Jeppesen and Alliance for Safe Navigation partners announce updated 'Boat Smart' white paper emphasizing importance of updated charts for navigation. Jeppesen and its Alliance for Safe Navigation (ASN) partners have released an updated version of the educational white paper 'Boat Smart, Update Your Charts', and are making this informative document available to the public, boating journalists, boating organizations and the marine industry through a variety of channels. First produced in 2010, this new version ofBoat Smart, Update Your Charts incorporates the latest published boating accident statistics and contributing factors from the U.S. Coast Guard.

SkiSafe Insurance has been working extensively to assist affected boaters in the region. SkiSafe has extended its operational and online facilities to allow for fast reporting of any storm claims and to provide any support its policyholders may require. As the Northeast and Mid-Atlantic regions cope with the fallout from Superstorm Sandy, SkiSafe Insurance, a national leader in boat insurance, has been working extensively to assist affected boaters in the region. SkiSafe is encouraging all policyholders to visit online or call 1-800-225-6560 to report any claims resulting from the storm, so that adjusters may immediately begin handling their claims.

Capt. Steven Moore, a former hired captain with the on-the-water towing company TowBoatUS Lake Lewisville, has purchased the business from his former boss, Capt. Jay Nunnally, who will remain with the company as a towing captain. Moore, who has boated on the lake for 30 years, is US Coast Guard licensed and carries a Masters 50-ton with commercial assistance towing certification. Much like an auto club for boaters, BoatUS offers on-the-water towing plans for freshwater boaters and anglers for just $58 a year, which includes BoatUS or BoatUS Angler membership.

Accidents happen. That comes as no surprise to those in the insurance industry, but what may be a surprise is the fact that the majority of maritime accidents occur in good weather with perfect visibility. In the following Q&A, Joseph McNulty, founding member of Carroll McNulty & Kull, joins Richard Furman and John Orzel, members of the same law firm, in a discussion on the key elements of marine insurance and what underwriters and claims professionals need to know about federal laws governing the maritime industry. Q. Let's start at the beginning. What is marine insurance?