Risks associated with the carriage of yachts as deck cargo

In the latest Iumi Eye, Roderick Johnson, Marine Risk Management Director, RSA and IUMI Loss Prevention Committee Member, and Mick Barras, Marine Risk Management Consultant, RSA, have noted that in March this year a report was prepared for the IUMI Loss Prevention Committee describing the risks and issues attached to the transportation of yachts as…

Newfoundland ferry passengers should vacate vehicles, risk assessment confirms

Provincial ferry passengers in Newfoundland, Canada since last year have been told that they must vacate their vehicles during crossings. A ferry users group on Bell Island had been advocating for passengers who need to stay in their vehicle for medical reasons, but an independent risk assessment released last week sided with the existing rule,…

Record divorce settlement creates international dispute over yacht

Courts in Dubai and the UK are deciding the fate of one of the world’s most valuable luxury yachts, the 380-ft expedition-class vessel Luna. She is presently detained at Port Rashid while her current owner, Russian oil and gas magnate Farkhad Akmedov, disputes a claim to the ship’s title brought by his ex-wife, Tatiana Akhmedova….

Hayes Parsons buys yacht broker

UK regional broker, Bristol-based Hayes Parsons, has bought specialist underwriting agency Admiral Marine in Salisbury, for an undisclosed sum. The deal will add £1.4m of GWP to the firm. Admiral was founded in 1991. It specializes in insuring sailing yacht and motor boat vessels on a worldwide basis. All staff along with the brand and…

Indian Maritime Board investigates capsizing of Mumbai floating restaurant

The Maharashtra Maritime Board (MMB) of India has set up an investigation into the capsizing of the ship Avior, which capsized in the Arabian sea off Mahim Bay on Friday. The vessel was home to the Ark Deck Bar restaurant. Although the MMB appoints a registrar to each “floatel” when they are set up, there…

Norwegian Cruise Line vessels bypassing some Hawaii stopovers

Norwegian Cruise Lines’ Pride of America visited neither Hilo Bay nor Kailua Bay, Hawaii, on May 23rd, both being part of its weekly inter-island itinerary. The vessel did not visit Kailua-Kona last Wednesday and had not stopped at Hilo since May 1st. Although Norwegian Cruise Line did not say why, Kailua-Kona is 72 miles from…

Mallya superyacht scheduled to be auctioned in Malta

Superyacht Indian Empress (IMO 1006245, previously the Al Mirqab) was scheduled to be auctioned by the courts of Malta on May 22nd. The 95-metre-long 3,176 gt, UK-flagged, 33-crew, 2000-built vessel, is owned by multimillionaire Vijay Vittal Mallya, a former Indian politician and co-founder of the Formula One Force India team. The yacht, which was offered…

Denmark extends liability requirements for jet-skis, etc

All speedboats with a hull length below 15 m, personal watercrafts/jet skis and similar vessels must now be covered by third-party liability insurance if operating in Danish waters as a result of new regulations. The Danish Maritime Authority has said that if a vessel does not have insurance coverage, it must not be operated. The…

Argo Syndicate pulls out of yacht business, report claims

Argo Group has withdrawn from writing yacht business through its Lloyd’s syndicate, according to re-Insurance.com. Gross premium for yachts & hull in 2017 at Argo syndicate 1200 made up 6.4% of full-year business in 2017. Marine in total reached £45.3m, out of a total of £552.6m. In its review of 2017, Argo Managing Agency chairman…

Markel International appoints senior yacht underwriter

Specialist insurer Markel International has appointed Debbie O’Sullivan as senior yacht underwriter in its marine team. Based in New Jersey, USA, she will focus on writing larger US yachts, with values typically between $2m and $25m. Ms O’Sullivan will join existing Markel International underwriters Mike Wimbridge, senior yacht underwriter, and Chris Lytton, assistant yacht underwriter,…