Good news for the toughest segment of the high-performance powerboat market to insure, https://speedonthewater.com/in-the-n...plus-mph-boats.

I don't have a boat that runs that fast but they helped me out when nobody else would. I would highly recommend them!

I have nothing but good things to say about Wozencraft insurance, and none of my boats go anywhere near 120+

Good news from a great company.

Ok Matt, your article quoted "The largest underwriter of powerboat insurance in the United States, United Kingdom-based Lloyds of London sustained $2.8 billion of losses in 2018, much of that hurricane-damage related. When the worldwide speciality insurance giant opted to scale back offerings as result of those losses, backing for such high-risk powerboat insurance programs evaporated."................that should be your next story 2.8 BILLION in losses.

2,800,000,0000.........Lets assume a used high performance powerboat has an insured value of 500K. That would mean 5,600 boats would have been lost in 2018. Are there even 5600 high performance boats in existence? There were some high profile crashes, so even if those were 3-4-5mm losses (with settlements etc). The 2.8 BILLION number seems crazy. That should be you and Jason's next feature story!

Im not an insurance agent but I would take a stab at some of the 2.8 billion payout is personal injurie, law suits as well.

Take it up with Lloyds of London—those are their numbers, not mine. But you're making a category-specific assumption of what was lost. Again, as written and fact-checked Lloyds is the largest underwriter in the marine market, and that market includes everything from skiffs to yachts. When an insurer takes a big hit, the insurer doesn't use a scalpel to make cuts. It uses a broad sword. So if you're an underwriter looking at losses and things to cut from your marine insurance programs, boats that run more than 120 mph—right are wrong—are an easy line item to slash. High risk, relatively small market, gone. It might seem unfair and it might be unfair, but there you go. Fortunately for the very few folks actually in the 120-mph-plus group, an insurance solution is returning.

That was LLoyd's losses from the Caribbean marine industry after all the hurricanes in 2017/18.

ok, now I understand the 2.8 and they were looking to cut losses in the powerboat market of all types. Greg nailed it with the hurricanes/ Caribbean

"The largest underwriter of powerboat insurance in the United States, United Kingdom-based Lloyds of London sustained $2.8 billion of losses in 2018, much of that hurricane-damage related. When the worldwide specialty insurance giant opted to scale back offerings as result of those losses, backing for such high-risk powerboat insurance programs evaporated."

I believe that is pretty clear in the story.

If memory serves, there were three hurricanes in a row that season.