FORT LAUDERDALE, Fla.,
Nov. 6, 2015 /PRNewswire/ -- XL
Catlin, the official insurance partner of the America's Cup, has an
expanded appetite to insure yachts of all sizes. XL Catlin
unveiled its increased appetite for the marine industry at the
56th Annual Fort Lauderdale International Boat
Show.
According to Richard DeSimone, Chief Underwriting Officer of
Marine in XL Catlin's Americas region, "The result of bringing
together the Catlin and XL Group marine teams is a larger, more
experienced underwriting and claims team with more capacity to
cover a broader range of yachts. We're excited about the additional
opportunities that our extended appetite will offer us, especially
as we continue to build strong working relationships in the
yachting community."
Recently, the America's Cup Event Authority (ACEA) named XL
Catlin the Official Insurance Partner of the 35th America's Cup,
sailing's most prestigious yacht race. XL Catlin also
partnered with ACEA as the Presenting Partner of the America's Cup
Volunteer Program.
"No other yacht insurance carrier in the market has invested in
the wide range of resources and capacity that XL Catlin now has,"
said Rick Salway, Vice President and Recreational Marine Manager.
"Given our new underwriting and claims capabilities, we are able to
address the insurance needs of yachts valued from $50,000 to $50
million. No matter what the vessel's value, XL Catlin
can offer our clients strong capacity and the global reach and
experience of a truly global marine insurer."
"We're looking forward to introducing yacht owners to the newly
combined recreational marine operations of XL Catlin and putting
our collective 100+ years of marine underwriting and claims
experience forward to offer attentive service to address their
recreational marine insurance needs," noted Mr. Salway.
With liability limits that range from $100,000 to $50 million, XL Catlin's yacht
coverage, ShipShape and ShipShape Plus, provides a
variety of recreational marine coverages, among them:
- Liability Coverage that extends to paid crew and includes Jones
Act, General Maritime Law, and Death on the High Seas Act
- Defense Costs outside Liability Limit
- Medical Payments extended to paid crew members
- Broad Navigational Limits
- Veterinary service for pets
XL Catlin's yacht insurance coverage is provided by the XL
Catlin insurance companies.
About the XL Catlin Insurance Operations
The XL Catlin insurance companies offer property, casualty,
professional, financial lines and specialty insurance products
globally. Businesses that are moving the world forward choose XL
Catlin as their partner. To learn more,
visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group
plc's (NYSE:XL) insurance and reinsurance companies which
provide property, casualty, professional and specialty products to
industrial, commercial and professional firms, insurance companies
and other enterprises throughout the world. Clients look to
XL Catlin for answers to their most complex risks and to help move
their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin