It appears there are only calm waters ahead for yacht insurance solutions provider SafeWaters Underwriting Managers after it announced a new capacity deal.
The company has secured an agreement with Everest National Insurance Company, an AM Best A+ rated carrier, which will expand its capacity.
SafeWaters provides physical damage cover and P&I for yachts ranging in value from $100,000-$25 million and the expanded coverage will give it a stronger financial foothold according to Jorge Pecci, CEO of SafeWaters.
“We are very excited about our new agreement with Everest National,” he said. “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.”
His words were backed by Brian Drum, head of Everest Underwriting Partners, who commented that the partnership would help offer yacht insurance customers the “highest quality coverage and service available on the market.”
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