HUB International has launched a new offering aimed at high-net worth and ultra-high-net worth clients seeking to protect their luxury yachts and high-performance watercrafts.
A news release from the brokerage introduced this new offering as the HUB Private Client Watercraft Risk Advisory Services, adding that its goal is to provide proactive counsel on specific risks and insurance considerations.
According to HUB, these services will primarily focus on securing adequate marine coverage by identifying and approaching reputable insurance carriers, while delivering a comprehensive assessment of the watercraft.
It will also review factors impacting insurance coverage and provide resources that help clients ensure the insurability of their watercraft, HUB said. This will include assessing in-season and off-season dockage and storage solutions, evaluating and recruiting qualified captains and crew, determining proper worker’s compensation, securing the services of experienced marine surveyors, mechanics, and dry dock facilities, arranging safe delivery of the watercraft to the client’s destination to reduce potential claims, and developing a personalized watercraft risk management plan.
“The marine specialists on the Watercraft Risk Advisory Services team will help our clients proactively address issues and develop strategies to enhance the safety, security and insurability of their luxury yachts and high-performance watercraft,” said Katherine Frattarola, executive vice president, HUB Private Client. “This is just one of the many ways we are building out resources to help our clients explore options, address needs, and customize solutions to protect their prized possessions.”
Earlier this month, HUB made a move to bolster its private client practice by appointing Eric Showalter as senior vice president and head of service and client experience.
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