Recreational Marine Insurance Seminar

Insurance professionals will learn the unique exposures of charter sightseeing and casino boats including the aggregate limit in the Protection & Indemnity Clause, the Running Down Clause, valuation, hard crew versus soft crew, and how medical payments and personal effects are covered. They will examine the common exclusions and limitations of the various forms, passenger warranty, permission to charter, and other coverages including liquor law, loss of hire, and ticket booth extension.

Insurance professionals will learn the changes in the U.S. Longshore and Harbor Workers Act (USL&H) regarding the changes in what is considered a recreational vessel with an in-depth review of the latest regulations. They will discuss how the act addresses passenger vessels, small passenger vessels, uninspected passenger vessels, vessels routinely used in commercial service, and vessels that routinely carry passengers.

After an overview of the American Institute Builder’s Risk Clauses, insurance professionals will examine the American Institute Following Form Excess, Protection & Indemnity, War, Strikes, and other exclusions. They will examine the products liability, care/custody or control, loss of income, employee, and other MGL issues for boat manufacturers and builders, as well as builders risk insureds.

Insurance professionals will participate in a discussion with marine experts on marine insurance now in 2024 and what is to come.

Insurance professionals will learn the basic package of coverage forms and important exclusions in marinas, boat dealers, and yacht clubs various programs. They will examine the Marina Operators Legal Liability Coverage Form and discuss owned property, equipment, floating property, and docks and piers coverages. They will review Boat Dealers and Inventory Policy perils, those included and excluded, as well as boat dealers inventory and protection and indemnity. They will learn about enhancements to the basic package.

Insurance professionals will learn the difference between a yacht policy and boat policy, and the broader coverages afforded under a yacht policy. They will review physical damage exclusions, “in rem” liability, uninsured boater liability, rental watercraft exposures, and captain’s liability coverage. They will discuss underwriting criteria, live aboard exposures, surveyors, and boat valuation. They will examine E&O “hot” buttons and better understand how to properly structure the important coverages for their clients.