Expat Marine Reports Double Digit Growth

In a yacht insurance market that is changing more than it has in 20 years Expat Marine reported a significant growth in business in 2018. While premiums and deductibles are increasing, levels of cover reducing and insurers being far more wary of accepting risks the specialist yacht insurance broker has gained new clients over the past 12 months, some who have had fairly complex risks to insure. Colin Dawson commented ‘with our 22 years specialist experience in yacht insurance we have built relationships in the underwriting markets that allow us to discuss risks in ways other brokers are not able to and we have found solutions for clients both in the placement of their insurance and settlement of claims in difficult situations. There is no doubt the yacht insurance market is beginning a cycle of big change and this will severely affect yacht owners and the policies they need’

Its more important now than ever to ensure that there are no gaps in cover as insurers are exercising their rights to decline claims where its not 100% clear that damage can be claimed and owners are facing much tougher times in making claims against insurers. Dawson went on to comment ‘with our long experience in arranging insurance programmes for yachts of all sizes we are able to explain clearly to owners the options they have and the effects a changing market will have on them. We can thoroughly examine a policy to ensure as wide a cover as possible is arrange for the owner in the current market conditions.’

Aside from arranging insurance covers for clients Expat Marine offers a consultancy service to owners having trouble with claims and also owners who wish a report on their current insurance programme and how it can possibly be improved. Colin Dawson is available at any time to discuss these services as well as arranging cover for owners throughout the region. He can be contacted at colindawson@tgg.com.hk and +852 2530 2331

COLIN DAWSON
Managing Director, The George Group

By Expat Marine