31 October 2017Insurance

SafeWaters expands yacht capacity with Everest

SafeWaters Underwriting Managers is expanding its capacity for yacht insurance with support of Everest National Insurance Company.

SafeWaters provides physical damage coverage and protection and indemnity (P&I) for yachts ranging in value from $100,000 to $25 million.

SafeWaters doubled their capacity to $25 million from $12.5 million, allowing for increased growth on the high-end/mega yachts space.

Commenting on this expanded coverage, Jorge Pecci, CEO of SafeWaters, said: “We are very excited about our new agreement with Everest National. We both focus on technical underwriting expertise and specialized claims service with a forward-looking attitude placing our customers always as the focal point. At SafeWaters, we are thrilled to be able to provide higher limits with this strong financial capacity behind us.”

Brian Drum, head of Everest Underwriting Partners, a unit of Everest Insurance, added, “We are delighted to have established this new partnership working with SafeWaters to meet the insurance needs of the Yacht Insurance customers.” “Together we’re looking forward to a long-term relationship that provides yacht owners with the highest quality coverage and service available in the market,” explained Ray Stahl, EVP and Head of Yachts for SafeWaters.

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More on this story

24 July 2017   Specialty re/insurer Brit has entered into an agreement with XL Catlin for the renewal rights for part of its directly written yacht portfolio.
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