sy goldberg

Three high performance boat insurance programs have shut down or will by 12.31.19..
There is only one company left and it is a LICENSED,ADMITTED U.S. COMPANY. with a 15 year track record with a great claims history.
I guess I retired too soon.
Sy Goldberg

tax man

Who are the four and which one is left?

sy goldberg

I will answer that question next week after the hurricane claims are submitted to see if the last company is still around.
Sy Goldberg

Wozencraft

The recreational marine insurance market has changed significantly since 2017. Many insurers have withdrawn from the space entirely and there has been a trickle-down effect to the high performance market specifically. Contracting insurance markets are cyclical and are often caused by poor underwriting and over-saturation in the market. As a result, one program may close, while another enters. With this being said, the current market is likely to change again. I have over twenty year of experience in the space and navigating these cycles is something I have done before. The near collapse of the yacht and recreational marine market at Lloyd’s of London has had a direct impact on high performance boaters. There are still programs using fronting companies that enjoy the support of Lloyd’s syndicates, but their availability today does not ensure their long-term success.

I am currently working with a leading insurance broker on an insurance solution for high performance boaters, like myself. Ultimately, the high performance market deserves and will have multiple options for boaters, so they can select coverages and brokers who best represent their needs.

neva satisfied

I can smell a rate increase coming!!!

sy goldberg

I will provide the carrier info on Monday.afternoon.

Wozencraft

WOW! I can barely wait.

Cash Bar

You're killing me, Smalls! LMAO

jeff32

i had yearly price increase on my policy for roughly 13% per year in the last 3 years... make it 35% more than before... of course if i get my boat stolen they will, at the same time, tell me my boat depreciated at least 13% per year, i would not be surprised !
does this make a 70% difference on 3 years?

better have nothing bad happening to my boat! we are not always winning anything on insurance settlements...

PartyBarge22

Well Monday has come n gone Sy or was it a Monday in November? lol