Marine Trades Insurance specialists IRCM have announced a new product bundle for businesses working in the UK’s buoyant Superyacht Sector. The comprehensive package includes Property and Business Interruption options as well as providing a full range of Liability covers. Standard programmes offer:
- Buildings & Contents Insurance
- Machinery & Plant
- Lifting Equipment
- Computers and Peripherals
- Business Interruption (Lost profit & additional cost of working)
- Public, Products & Yachtyard Liability
- Employers Liability
Business owners will also automatically be offered an additional bundle that includes Management Liability protection and Excess protection. “The goal is to provide a truly comprehensive marine trades insurance programme to businesses operating in this sector” said Mark Elcocks IRCM’s Specialist Risks Executive
“We recognise that even in a growing market business owners will still want to minimise costs but also want the best possible solution. In offering a comprehensive insurance bundle that not only offers traditional covers but offers additional protection to the bottom line as well as reducing exposure of a business owners personal assets we have economies of scale that means we can slim down the overall premium of the programme. This means the business owner benefits from outstanding value”.
In addition to providing comprehensive marine trade insurance programmes, IRCM are also offering a low-cost entry-level solution for self-employed contractors. “The issue these businesses face is that the usual Marine Leisure Insurance Market will not cover them to work on large yachts or commercial vessels and liability insurance for working on these larger, higher-valued vessels is significantly more expensive than that where work is restricted to smaller, lower valued craft”.
IRCM’s tools and liability insurance package for superyacht, large yacht and commercial vessel contractors starts at only £499 including tax and fee and provides £5m of Public, Products & Yachtyard Liability as well as £5,000 cover for tools and equipment anywhere in the UK.
For further details contact Mark Elcocks at IRCM on 01902 796 793 or email markelcocks@marine insurance-ircm.co.uk