Pub Argument - Ellen

[tome]

I was interested to hear that there's an argument running in my local regarding Ellen McArthurs record attempt and whether her boat is insured or not. I know some of this has been aired before.

The two sides are:

1) She cannot get insurance because, being single handed, she cannot comply with IRPCS and therefore nobody would touch her with a bargepole

2) Any risk can be insured at a price

Discuss!

 

[Neraida]

I would think (tho i don't know for sure) that as Ellen sailing team (Offshore Challenge Limited) have some major insurance companies as sponsors, that they all (Ellen, Nick Maloney, Sam Davies) get insurance of some kind...

 

[snowleopard]

with a sponsor prepared to shell out millions for each new boat, who needs insurance?

 

[StephenSails]

It is very easy to get insurance for single handed sailing, the problem is that it costs a lot of money. Mini Transat sailors have to have it and this is one of the biggest expenses to the campaign.

 

[tome]

Do you know any specific details, eg which companies will insure and the approx cost?

 

[IanPoole2]

Option 2 is traditionally what Lloyds do - generally you can insure "almost" everything for a price.

However - with the decline of names and more Corporate money and bean counting risk managers in Lloyds I think that this will diminish.

 

[StugeronSteve]

I really can't imagine insurance, as we know it, being available, insurers really do not like high tech machines and derring dos. Unless those fearless guys at the Crimson Permanent Assurance Co. (Monty Python's "Meaning of Life". "It's fun to charter an accountant and sail the great accountancy" etc,etc.) have anything on offer. Could entrants have to stick up some kind of bond to cover any rescue/salvage expenses?

 

[brianrunyard]

I would have thought that with big sponsors like B&Q, they would carry their own risk.

 

[Stork_III]

Don't they have to have at least Public Liability insurance even if the boat/Ellen aren't insured for loss/damage.