Marine Insurance News
The grand-daughter of Monty O’Leary, Master ‘Naomhóg’ (Currach) Builder, has joined Marine Insurance broker, Insurance Risk & Claims Management (IRCM). Rebecca O’Leary joins the Marine Trade and Boat Insurance specialists as an underwriter bringing with her not only Marine Insurance underwriting experience but a wealth of knowledge of boatbuilding, boats and all things Marine. Monty [...]
Whilst it’s long been a principle of insurance that the premiums of the many pay for claims of the few, it may be somewhat contentious to suggest that UK yacht owners should be paying for the claims of the many US and Caribbean-based yachts, as well as the various superyachts that have been lost globally, [...]
Double-Digit Yacht Insurance Premium Increases Set to Continue Yacht Insurance rates are continuing to rise and there is no sign of an end to the trend which has seen the yacht and boat insurance market harden over the past 24 months. Some prominent Market faces are going so far as to pronounce not only the [...]
As we have previously reported, on the site and elsewhere, the turmoil in the Yacht Insurance Market continues. In a season of rising premiums, contracting capacity and the need to shop around not just to find affordable insurance; but to actually find cover if you happen to be the proud owner of something insurers might [...]
Marina operators have received a timely boost from specialist marina insurance brokers, Insurance Risk & Claims Management Ltd (IRCM), who have announced the launch of a 24-month insurance solution for Marinas. With the Marine Insurance Market being embroiled in conditions that have seen some insurers withdraw from the Market altogether and others raising premium rates [...]
Insurers Continue to Post Huge Yacht Insurance Losses It’s no secret that the yacht market at Lloyds has posted enormous losses over the last couple of years. 2015, a relatively quiet year saw the Market shell out well in excess of £200m in superyacht-related claims against revenue estimated at £150m, posting a loss ratio of [...]
Classic Yacht Insurance Specialists Insurance Risk & Claims Management (IRCM) have launched a new campaign to create greater awareness about the uniqueness of insurance programmes for classic yacht owners. Mark Elcocks, Specialist Risks Consultant with IRCM said “Whilst the insurance market in general has been price-focussed for some time, it is fair to say that [...]
Marine Insurance specialists IRCM have announced the re-launch of their Bowline Insurance offering for small clubs. Aimed at sailing, yacht and boat clubs with low annual revenues the scheme has been modified with a view to providing keenly-priced optimum protection. Specialist Risks Executive with IRCM, Mark Elcocks said “The feedback we are receiving from small clubs [...]
Marina operators can benefit from having their Marina Insurance premiums reduced by 15% if they invest in boat lift training for their marina staff. Specialist Marine Insurance broker Insurance Risk & Claims Management (IRCM) have partnered with leading marine equipment suppliers The Pontoon & Dock Company in rewarding those marinas whose staff undergo the latter’s [...]
With one well-known Lloyds service company severing their long-term ties to insurance brokers, independent specialists and leading insurance provider to the Marine Leisure Sector IRCM launches a new Marine Trade policy that can be accessed by brokers as well as directly by marine business owners. 9 January 2017 London - The after-effects of the significant [...]
