PHILADELPHIA – INAMAR, the marine marketing and underwriting division of ACE USA, is now targeting owners of vessels worth $5 million and up with an enhanced version of its Elite Yacht Program, the company reported in a statement yesterday.
INAMAR’s Elite Yacht Program includes many new benefits such as a waiver for the hull physical damage deductible if the loss amount exceeds that deductible, according to the company. Other benefits and features include: worldwide navigation limits, fine arts coverage, captain and crew coverage, loss of charter income, rental reimbursement and marine environmental damage benefits, along with many other policy provisions.
“Our previous policy offered outstanding coverages, but the mega-yacht market is an evolving one in terms of the number of custom-designed vessels currently under construction, as well as their state-of-the-art electronic equipment and extensive navigational needs,” said Judith J. Kraft, INAMAR’s vice president of underwriting.
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