Markel’s Mega-Yacht insurance product

Markel International have an established portfolio of yacht business, primarily focussed on yachts valued at $1,000,000 or more. Cover is granted either on the MarYacht form, developed and marketed by Markel, or on other standard market forms.

The MarYacht product was developed to provide clarity of the terms and conditions available to our assureds. The drafting of the form included full input from Claims, Underwriting and Legal professionals with full knowledge of the market place and products currently available, to create an offering unlike any other in the market.
Prior to release, key marine brokers, claims adjusters, lawyers and the yacht owners themselves were called upon to provide feedback on the product. News of Markel’s plans to draft a new policy captured the market’s attention and the new wording drew significant interest and favourable comment.

Markel’s MarYacht policy wording is designed to be user friendly and comprehensive. The obligations of the assured and the undertakings of the insurer are unambiguous, policy warranties are summarised in a clearly laid out section, definitions are explicit and the proposal form is straightforward and user friendly.

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Markel Yacht