Yachts – Exceptional vessels require exceptional cover

The world of yachts is incomparable with all other marine segments. The aim of creating the ultimate experience of pleasure and leisure on vessels of the highest standards within each sub segment of the yachting market, requires products and services of the highest level of quality.

If only the best of the best is good enough, with a constant flow of new developments and requirements to achieve an even higher level of excellence in all fields, it demands the utmost from all parties involved. It takes true specialists with tailor made products to service the needs of each individual yacht owner.

We are one of those specialists, providing yachting liability insurance solutions. Our team has a solid knowledge base within the industry, striving to the continuous development of ever higher quality products and services in order to meet increasing demands of our clients.

We have built a substantial yachting book of business, consisting of both insurances for small yachts (without hired crew) and excess yacht liability placements – providing an excess third party liability cover, up to mega- and super yachts insurance packages. Today, we cover professional ocean race yachts too.

We service owners of all nationalities, with yachts flying every flag in the world with crews of all nationalities navigating the globe (from the Med up to the Antarctic).

Our P&I arrangements take all required cover extensions tailored to the yachting segment into account. We provide cover for (excess) yacht owners liabilities, Defence (F.D. & D.), MYBA charter extensions, pre-delivery crew cover, water sports liability cover (responding to basic water sports, scuba diving, the use of sea-bobs and parasailing) extensions, racing cover extensions and crew medical packages for both private as well as commercial charter yachts. Additionally, we provide employers liability covers and service products such as but not limited to COFR guarantees to obtain a COFR (water pollution).

All covers are established with specialized insurers with first class security and a financially strong performance, providing the broadest covers in the market with the highest limits and degree of flexibility ensuring a truly tailor made product. Thus we allow owners to concentrate on their main objective; creating the ultimate yachting experience.

Please contact our team to obtain advice on products & services we can provide.


P&I insurance covers the liabilities resulting from operations of the vessel and has originally been initiated by ship owners. Apart from this category, also other operators like managers and charterers can be covered for these risks.

P&I Insurance covers Assured’s liabilities such as (but not limited to):
• Personal injury of seamen, passengers and others on board
• Loss or damage of cargo
• Pollution
• Wreckremoval
• (Excess) collision with other vessels and property
• Property on board
Freight, Demurrage & Defence covers the legal expenses of the Assureds to defend their position in disputes which do not fall under the P&I insurance. These can be disputes in respect of Charter Parties, Bills of Ladings, Contracts of Carriage and disputes related to demurrage, freight payment, etc. The insurance covers the legal expenses in respect of these proceedings, not the actual amounts under dispute.
For information or a quotation please contact our team.
For information or a quotation please contact our team.
War & Strikes risks insurance in basis covers physical damage and/or destruction of a vessel caused by or as a result of War-like acts such as but not limited to war, civil war, revolution, rebellion, capture, seizure, riots, civil commotions, confiscation, piracy, mines, torpedoes or other derelict weapons of war etc. War & Strikes risks clauses, however, exclude Kidnap & Ransom, which can be covered under a K&R policy.

War & Strikes risks insurance is a separate policy and finds its origin in the F.C. & S. (Free from capture and Seizure) and War & Strikes related exclusion stipulation on the Hull & Machinery policies

Nowadays, piracy is one of the first perils which comes up when talking about War and Strikes risks cover. This as, although piracy is in fact still mentioned as a named peril on the various Hull & machinery policies, in practice piracy risks have now globally been excluded from the Hull & Machinery policies and transferred to the War & Strikes risks insurance policy.

It should further be noted that cover can be extended to include P&I (including Crew) and War Loss of Hire. The P&I aspect and especially the crew extension is of importance. This as the vast majority of P&I Clubs/Underwriters provide War P&I coverage in excess of the Hull & Machinery value as deemed to be insured under the War & Strikes risks insurance. Not effecting a P&I war extension can as such have severe financial consequences.

There are trading area restrictions by means of the Navigation Limitations – Hull War, Strikes, Terrorism and Related Perils Endorsement (JW2005/001A) dated 20th June 2005 in conjunction with the current List of Areas of Perceived Enhanced Risk (Listed areas) as may be published from time to time in London by the Joint War Committee. Effectively this excludes cover for vessels trading to area’s for which separate cover on special terms and conditions is to be arranged.

We can assist in setting up War & Strikes risks insurance arrangements and all relevant extensions where required.
Certificate of Financial Responsibility (Water Pollution) – abbreviated COFR
For many years already we assist operators to obtain a COFR where required. For this purpose we have established good contacts with the various market parties involved as well as the U.S. Coast Guard.

Which vessels require a COFR
Vessels of 300 GT and above, calling at waters under U.S. jurisdiction are required to have a valid Certificate of Financial Responsibility (Water Pollution) on board.

What is a COFR
A COFR is a Federal Certificate issued by the US Coast Guard and is to evidence that operators can meet their obligations in case of a water pollution in accordance with certain US pollution laws.

Non Compliance with Regulations
In case of any calls made without a valid COFR certificate on board, the vessel involved can be detained or denied access to such waters with operators risking huge fines for non compliance with U.S. legislation.

Waters under US Jurisdiction – not only U.S. waters/EEZ
This requirement involves waters under U.S. jurisdiction, which not only includes the EEZ/waters of mainland U.S.A. but also waters of Dependencies like Puerto Rico, Guam, American Samoa etc.

Other COFR State Certificates
Next to the (Federal) COFR, individual U.S. States also have their own COFR requirements. The States California and Alaska are examples of such States. Also for these State COFR certificates we can provide assistance where required.

Other Certificates
Next to the above COFR’s there may be other certificates/arrangements required. From a practical perspective, given our involvement with vessels calling at US waters, we have obtained quite some experience in assisting our clients to obtain the most relevant certificates in our field, which next to COFR’s, include International Carrier Bonds as well as a COFR for passenger vessels – FMC Certificate(s).

The latter dedicated towards passenger vessels performing voyages to waters under U.S. jurisdiction. These vessels, subject to a number of parameters, have to evidence that the Operators are capable of meeting their obligations towards these passengers in either performing the voyage and delivering the passengers at final destination or in meeting liabilities following personal injury, death or sickness of passenger(s).

Operators responsibility
Although we try to assist our clients as much as possible, it is eventually up to owners/operators of vessels to establish which certificates are required and obtain these. Some certificates require quite some information to be disclosed and timely application as well as efforts from the side of operators to be taken given the substantial framework of regulations and requirements applicable.

Should you require any assistance following a scheduled call at waters under US jurisdiction therefore please feel free to contact us.
The conventional P&I insurance covers the legal liabilities of the assured. Legal liabilities arise from national laws and international conventions and depend on the trade and the operation of the vessel. The Clubs / insurers expect their members / assureds to conclude contracts based on unaltered conditions for certain trades and operations such as the Athens Conventions for the international carriage of passengers.

Any amendment to the standard accepted conditions need special attention and where necessary additional cover has to be arranged. Post & Co will be pleased to assist in arranging cover for such contractual liabilities.
For information or a quotation please contact our team.
error: Content is protected !!