Pantaenius

sailaboutvic

sailaboutvic

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there a rumor amount cruisers that Pantaenius UK are terminating insurance coverage for foreign-flag (non-EU) sailboats.
if so how will this effect British boats once we no longer in the EU ?
will get around to email them at some point but as anyone here heard any thing ?
 
sailaboutvic said:
there a rumor amount cruisers that Pantaenius UK are terminating insurance coverage for foreign-flag (non-EU) sailboats.
if so how will this effect British boats once we no longer in the EU ?
will get around to email them at some point but as anyone here heard any thing ?
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I doubt this very much but you never know. There have been a number of disgruntled punters spreading tales about Pantaenius in the past so maybe it is just mischievous.

There was also this, which proved wide of the mark:

http://www.ybw.com/forums/showthrea...-worth-lt-%A380-000-True&highlight=pantaenius
 
Presumably insurance is as nasty as any other business, and this is almost certainly something being spread by unscrupulous competitors. How can any decision have been made, we might even be staying in the EU, or the SM, or the CU :)
 
Richard10002 said:
Presumably insurance is as nasty as any other business, and this is almost certainly something being spread by unscrupulous competitors. How can any decision have been made, we might even be staying in the EU, or the SM, or the CU :)
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Not an irrational thought, Richard. But the whole Brexit train wreck has shown a propensity for throwing up garbage dressed as information. I expect this is just more of the same.
 
This from the Med Sailing FB group:
Pantaenius UK & GmbH are terminating insurance coverage for foreign-flag (non-EU) sailboats. We are Canadian-flagged and are now considering a broker who has Allianz Global as an underwriter. Can anyone advise on their experience with Allianz re:claims? Easy to deal with? Similar to Pantaenius?

And a reply giving the reasons behind it:

We to are Canadians and had to find new insurance after Pantaenius no longer could insure us because of Canadian law which does not allow Canadian vessels to be insured by brokers who do not have a presence in Canada. After much research we were able to find a company in BC who would insure us for our circumnavigation.

So it would appear to be a specific problem for Canadian (and US from a later reply) boats, where because Pants don’t have a US or Canadian bricks and mortar presence, they are no longer acceptable to the authorities for providing insurance to their flagged vessels. Nothing whatsoever to do with Brexit, everything to do with transatlantic protectionism.
 
macd said:
Thanks for the clarification. I'd still take issue with the ambiguity in that. Does it mean EU boats, EEA boats, European boats, or some hybrid of them? Meaningless to owners of European-flagged boats until clarified.
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Read the second part of my post. It’s nothing to do with non EU, EEA or European boats. It’s only Canadian and US flagged boats. The bit you’ve quoted was posted by someone who’d mistaken what the problem was, the second part identifies what is actually going on.
 
Sounds like the confusion is already cleared up. For further reassurance, when I recently asked Pantaenius UK (it's not that difficult and more reliable than internet rumours) if we could stay insured through them in case we were to reflag the boat to a German flag, they said no problem at all, although switching to Pantaenius Germany would also be easy. They even looked up the numbers and it turns out staying with Pantaenius UK would be cheaper, as the insurance premium tax in the UK is 12% vs 19% in Germany.
 
Pantaenieus are an insurance broker the insurers of the policy are made up of a number of individual insurers.
If you speak to them they will give you a list of the insurers who support the Pantaenieus contract.
Had any one thought that it only requires one of those insurers not to hold a Canadian licence that the chain is broken.
In addition it appears all insurers suffering losses and reviewing premiums with increases .
Chuck out areas that cost money such as foreign flagged craft based in the neverlands and windstorm in the Caribbean than no wonder the clamp down.
Sounds to me a normal business decision.
 
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