This is an insurance every yard must have, though many don’t. Every insurer of a yacht will require an owner to ensure a yard he enters has proper insurance in place. Most yacht polices now include a Refit and Repair Clause and this has pretty strict requirements attached to it. If these are ignored cover of the yacht will be in jeopardy. With an increased number of yard accidents in recent years this is an area insurers are very wary of. Two of the important rules surrounding this are to make sure the yard has cover and that cover is actually SRL cover. The second is that no waiver should be signed without the express permission of the yacht’s own insurer. While this cover can be expensive, there are ways to make it very accessible cost wise for any yard. Having good cover will give the yard’s clients and owners peace of mind, not having it can lead to bankruptcy and an owners own insurance not paying out. Colin Dawson has been in the thick of these issues for nearly 30 years. Appreciating that this is a new area for some and one that is discarded by others he is well placed to discuss the benefits of cover to both the yard and its clients.

Contact

Colin Dawson
Managing Director

Email

Phone

yachts@tgg.com.hk

+852 2530 2331

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