2 October 2014
SuperyachtNews.com News brought to you by Master Yachts
10 Feb 2014

New underwriting agency enters the superyacht market

By | Other articles by this author

Baiman Marine is a new underwriting agency to enter the superyacht market. It has announced its aim to offer a complete solution for brokers, yacht managers and direct clients in the yacht market. SuperyachtNews.com speaks to Ross Bailey, underwriting manager, to find out more about the decision to enter the superyacht market.

“Having worked in the marine insurance market for over ten years now, with the last three years specifically in the yacht insurance market, I have gained a solid foundation within the industry,” explains Bailey. “The yacht underwriting market has been dominated by a few specialist companies for the last decade or more. Whilst Lloyd’s syndicates will continue to offer individual insurance covers to brokers, I believe that the specialist market is in need of some new impetus to breathe life into the market. Whilst it is true that prices are currently very low, the yacht market is beginning to show good signs of recovery and as such, now is the right time to inject some new ideas into the industry.”



“This being the case, I have teamed up with C J Coleman, an established Lloyd’s broker with over 40 years experience and established underwriting security of first class Lloyd’s Underwriters, in order that we have the capacity to offer a high quality service, backed by knowledgeable professionals,” Bailey continues. “The global scope of the superyacht insurance market requires tailored and specific management and insurance packages, covering every aspect of risk. The partnership between C J Coleman and Baiman Marine creates a wealth of knowledge and experience to offer comprehensive, tailored cover for every client.”

“As an agency with the authority to provide insurance coverage for yachts, their crew and guests, our approach is to allow clients to select the insurance options they require, delivered to budget and cover requirements in one complete package,” Bailey adds.

SuperyachtNews.com spoke to several insurance brokers in the industry to ask about their knowledge of the new agency and whether they would be putting any business their way. While many were aware of the new project, all were reluctant to comment on any future plans to do business with the agency, or on the need for another underwriter in the industry.

To receive breaking news notifications, download our free app.

Comments

Add a comment

1800 character limit

Having problems? Let us know editor@superyachtnews.com

Other Business News

MTN's Maestro and Transas' T-Bridge highlight yachting's tech future

Among the many new technologies showcased at the recent Monaco Yacht Show, two products pointed to the importance of open-platform development that lets competitors work together. More

Reduced charter tax in Tahiti

Asia Pacific Superyachts has announced that Tahiti's government has reduced its charter tax to five per cent of gross revenues, from a previous rate of 12 per cent. More

We're throttling up says Westport's Daryl Wakefield

Daryl Wakefield, president of Westport Yachts says the American shipyard has re-hired workers and is developing a new line after the company's recent acquisition by one of their own customers, Gary Chouest More

Mike Maynard passes away

Former Northern Lights VP, Mike Maynard has passed away at the age of 62. More

business News Archive

Superyacht Intelligence Data

Most Recent Comments

  1. RMI hones in on helideck safety More
  2. Bond Technology Mastermind at Monaco Yacht Show More
  3. Playing the waiting game in Spain More
  4. Captain contacts SYN to reveal crew are not being paid More
  5. Jamaica superyacht flag gives competition a run for its money More
SuperyachtNews app available now. Click here to download.
Tailor a subscription package to suit your needs
Latest issue
Latest issue

E-Newsletter

Get regular updates from SuperyachtNews with our weekly Email Newsletter.

Submit

SuperyachtIndex.com

Latest Premium Listings

Palmarina Bodrum

Palmarina Bodrum

MVMSYSTEM Limited

MVMSYSTEM Limited

Register A Yacht.com

Register A Yacht.com

Dohle Yacht Crew

Dohle Yacht Crew

D and B Services

D and B Services

Mondo Marine

Mondo Marine

Sevenstar Yacht Transport B.V.

Sevenstar Yacht Transport B.V.

Directory. Add your logo here with a premium listing.
 
 
 
 
 
 
 
 
 
 

Featured Listings

Rigging

Reckmann Yacht Equipment GmbH
Reckmann Yacht Equipment GmbH is a specialist company for reefing systems, masts and hydraulics and will celebrate the 120th anniversary in 2012. Today, the company is one of the leading producers and traders of headsail reefing equipment and is a synonym for quality, continuity and innovation.
www.reckmann.com

Shore Power Convertors

ASEA POWER SYSTEMS
ASEA POWER SYSTEMS is the Marine Industry Leader for Shore Power Conversion equipment ranging in power from 8kVA - 1000kVa.
www.aseapower.com

Consultants, Project Management

Marine Management
We specialize in quality project mgmt and consultancy services to the Superyacht industry. Our extensive commercial experience ensures qualified over-sight of your vessels refit, build or upgrade. We attend vessels worldwide, providing owners onsite technical representation, and supervision of projects with no margin added on contracted services.
www.mml.org.nz

Administration Services, Banking, Fiscal & Finance, Classification & Registration

Register A Yacht.com
We have combined the expertise of a dedicated team focused on meeting the needs of yacht owners together with Sovereign’s 25-years of experience of corporate management and financial services
www.registerayacht.com/

Interior Fittings, Water Treatment & Watermakers

Evac Oy
Evac designs, manufactures and markets environmentally friendly vacuum toilet and wastewater treatment systems for the yacht and shipbuilding industry. With the latest advanced technical innovations we provide quality, reliability and design.
www.evac.com

Navigation

Raytheon Anschuetz
Professional Integrated Navigation Systems based on cutting-edge technology and decades of experience. Ultimate knowledge and flexibility in system integration. Dedicated customer care throughout the whole project and beyond. Raytheon Anschutz your partner for individual bridge system solutions.
yacht.raytheon-anschuetz.com/

Add your company listing here

Add a featured listing here and your advert will appear on every page of SuperyachtNews.com, SuperyachtIntelligence.com, SuperyachtIndex.com, TheCrewReport.com and SuperyachtJobs.com.

Add my company listing