Yachtowners, the specialist yacht syndicate of Shipowners’ P&I Club, has entered into a partnership with newly established super yacht specialists Yachtpod Risk Partners, an underwriting cell on the Castel Underwriting Agencies MGA formation platform. The agreement will see Yachtowners provide clients with P&I cover for yachts, motor sailors and motor yachts, including professionally skippered charters.
Yachtpod will underwrite on behalf of Shipowners’ under a delegated underwriting authority which provides P&I insurance up to a limit of $1bn. Yachtowners will also have access to the Club’s legal costs cover (LCC) insurance (FD&D), through Yachtpod.
Shipowners’ Club product development director Ian Ferns said: “We pride ourselves on partnering with the best people in their field and the team at Yachtpod are proven leaders. We are sure that this new venture will be a great success for them”. Yachtowners Syndicate underwriting manager Nicola Kingman said: “We have known the team at Yachtpod for many years and when an opportunity arose to work alongside them, it was too good to miss.”
Earlier this month Yachtpod Risk Partners launched its underwriting cell on Castel’s MGA formation platform, offering superyacht insurance on a worldwide basis. Yachtpod provides cover for hull and machinery, increased value, war, medical expenses, mortgagees interest and loss of charter hire risks. Yachtpod is led by principals Iain Cotton and Vladimir Mirosevic-Sorgo. Cotton was previously a director of Lead Yacht Underwriters Limited, a wholly owned subsidiary of MS Amlin. Mirosevic-Sorgo is a former director and class underwriter of Lead Yacht.