Shiprepair Insurance
The Ropner Yacht Team, part of Ropner Insurance Services Limited announced the launch of a First Party Shiprepairers Liability insurance product for individual yacht owners and underwriters. This Lloyd’s insurance policy covers the owner’s yacht and any third party exposures whilst the yacht is in an approved yard undergoing repair or refit including coverage in respect of subcontractors and owner’s crew whilst in the yard.
Ropner Shiprepairers Insurance experienced until now, that the yacht community had to deal with multiple problems insuring their yachts for repair. This new Ropner product aims to reduce costs and stress for yacht owners by offering an annual policy that allows multiple visits to yards within a twelve month period. Not only does it cover the owner’s yacht, but it also alleviates concerns about third party cover, crew and hot work, including coverage for them all in a single policy.
Graham Dillow-Prior, Head of the Ropner Yacht Team commented: “Through our Shiprepairers Liability Insurance, we can offer yacht owners peace of mind, as they will not incur any extra legal costs or additional high premiums from hull insurers and can rest assured that if they need to have last minute repairs done there will be no risk of a gap in their cover. Whilst this scheme was originally designed to alleviate stress for individual yacht owners, we can offer the same product to those Underwriters who may wish to remove themselves from ground up coverage.”