Insurance renewal time

[Hadenough]

A number of people on these forums have recommended Y Yacht insurance, I have a competitive quotation from them and their policy is generally the same as my current insurer and better on the important issue of loss or damage caused by mechanical failure. So all looks good but what are they actually like? Any one have any experience of a claim with them? PM me is you prefer.

 

[smokhtari]

Hi Hadenough,

Brokers generally do not get involved in claims unless they have a claims handling team or department. This means that they must either hire a P&I expert (usually large brokering houses) or they pass on all claims details directly to the underwriters.

While a brokers job is important in claims management, the majority of the work (and all claims payment and evaluation) is done by the underwriter. Therefore, the underwriter being used is usually more important than the broker being used so far as claims are concerned.

It should say on your indication who the underwriter is. If you can provide me with that name I should be able to tell you if they are any good with claims handling and payment.

Shahram