Insurance

Yacht Insurance by IYC

Worldwide Support in Yacht Insurance

IYC is the only yachting company in the industry with an in-house team of yacht insurance professionals, licensed both in Europe and North America.

WHY IYC INSURANCE

IYC is a leading yacht company with insight, experience and relationships which enable us to provide the best level of support. Our ability to understand our clients’ needs allows us to provide custom solutions and to ensure they are well protected. IYC believes in offering our clients with solutions for every requirement surrounding the ownership of a yacht.

EXPERIENCE

Over the course of the past 10 years, IYC has provided expert advice on risk management and loss mitigation to over 600 yachts worldwide. We have handled over 3,000 successful claims, ranging from simple loss of tenders to complex total losses, and our insured assets sum up to €1.06 Billion in value.

INSIGHT INTO YACHTING

IYC is an international yachting company, and one of the largest worldwide. We operate in all yachting disciplines including Sales & Purchase, Chartering, Yacht Management, New Construction, Charter Management, Crew Placement, Yacht Agency Services and Insurance & Claims Management.

A GLOBAL COMPANY

With our strong geographical footprint we have the resources and systems in place to provide our clients with support on a global scale. IYC is expanding its presence worldwide, with currently 13 offices in 9 different countries.

RELATIONSHIPS & REPUTATION

IYC has established relations with the world’s leading insurers and first class International Underwriters with whom we have been collaborating for 25 years. Our experience in yachting is the foundation to our success. We have received excellent feedback and recognition offering our leading insurers with significant insight into the IYC Yachts. Our insurers understand the depth in our involvement in ensuring our clients are taking the precautions necessary to maintain their yachts and keep an attractive insurability outlook.

INTER OFFICE EXPERTISE

Yacht Insurance requires insight into multiple areas that make up the insurability of a yacht, the “risk”. Our multiple departments and inter-office expertise enable us to properly assess a yacht’s exposure. One must understand how a yacht is used, what regulations are in place, crew composition, the sales process and exhibitions as well as charter process and contracts. Our company works together to ensure we are up to date with any changes and evolvements that surround our yachts and our clients. Our vessels are all reviewed in their entirety by our team of experts as a proactive approach to ensure our clients protection.

COMPLIANCE & REGULATION

Through our in-house team of experts we are always aligned with Flag State and Coast Guard authorities to ensure that a vessel’s documentation is up to date and in compliance with the latest laws and regulations.

AVAILABLE TO CONSULT 24/7

We are available at all times to consult our clients on daily matters and ready to fully manage the claim process from the moment an incident occurs until the final settlement.

OUR PRODUCTS:

Hull & Machinery

Protection against partial damage, total loss, damages to fixtures and fittings, tenders, watersports equipment and electronics.

Protection & Indemnity

Protection against potential third party liability exposures such as collision liabilities, pollution, wreck removal, legal defense costs, watersports liabilities and uninsured boaters.

Crew Medical

Crew Medical Health Plans and travel plans available to crew members, on an individual or group basis. Options include Medical, Dental, Vision, Life and AD&D.*

SHIP REPAIRS LIABILITIES

Protection for Yards and Contractors legal liabilities, as ship repairers.

charterers’ liabilities

Protection against any damages and liabilities that may arise during a charter of a non-owned vessel.

BUILDER RISKS

Protection for the construction of a new building project, or the project of a major conversion or refit. The vessel can be covered from physical loss or damage, as well as the liabilities of the Owner to third parties, against all risk. The cover will include: Faulty Design, Pollution Liability, Liabilities to Third Parties, Legal Defense Costs.

LOSS OF CHARTER HIRE

Insurance to protect you against loss of income result- ing from physical damage to the insured vessel or any circumstances that prevent the vessel from executing a scheduled charter.

BREACH OF WARRANTY (MII)

Cover issued to protect a lien holder or lessor’s interest that causes the policy to continue to protect the finan- cial interest even when the insured breaches a condi- tion. Any loss recoveries under this clause are payable only to the lien holder or lessor.

INSURANCE INQUIRIES

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