29 June 2016

10 Feb 2014

New underwriting agency enters the superyacht market

By

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

FLIBS' future in flux

The future of the Fort Lauderdale International Boat Show is in jeopardy following the collapse of a proposed real estate development to the Bahia Mar Resort and Marina. More

French charters avoid cabotage declaration

MYBA and Ince & Co have successfully encouraged the French government to amend a directive, published at the close of 2015, to ensure charter yachts avoid submitting a declaration of cabotage - provided the vessel meets the VAT exemption criteria. More

New brokerage firm: Superyacht Sales and Charter

The new Fort Lauderdale-based brokerage firm will offer a full-service platform of sales, charter and yacht management More

Brexit: Resolute in the face of change

Britain's superyacht industry plays an important role in the wider health of the market. If British citizens should vote to leave the European Union, how will Britain's superyacht business fare? More

business News Archive

Most Recent Comments

  1. Core team remains after redundancies at Alloy Yachts More
  2. Under the spotlight More
  3. Ocean Victory: First details released More
  4. Rogue frequency disrupts Barcelona's infrastructure More
  5. US travel alert covers Europe More
SuperyachtNews app available now. Click here to download.
The Superyacht Intelligence Annual Report is out now. Subscribe today and access your digital copy instantly. Subscribe now.

E-Newsletter

Get regular updates from SuperyachtNews with our weekly Email Newsletter.

Submit

SuperyachtIndex.com

Latest Premium Listings

Cathelco Ltd

Cathelco Ltd

Ensign large yacht services

Ensign large yacht services

Marine & Remote Sensing Solutions SAM (MARSS)

Marine & Remote Sensing Solutions SAM (MARSS)

Saltwater Stone

Saltwater Stone

Vikal International

Vikal International

BestVSAT.com

BestVSAT.com

The Lighthouse Consultancy

The Lighthouse Consultancy

Directory. Add your logo here with a premium listing.
 
 
 
 
 
 
 
 
 
 

Featured Listings

Paint & Protection

Wrede
WREDE Consulting is an independent paint consultant and paint surveyor company who has worked for most of the 200 largest yachts worldwide in coating, paintwork and equipment areas. WREDE Consulting engages in quality management and objective quality assessment for the coating of mega- and superyachts. www.wrede-consulting.com
www.wrede-consulting.com

Recruitment

Viking New Zealand Limited
VIKING is the leading Large Yacht Recruitment Specialists and is continually looking for qualified and experienced Deck, Technical and Hospitality Crew. Also providing Full Crew Management Functions including: Offshore Employment, Payroll Services, Crew Administration, Pre-employment Medical Screening and a dedicated Marine Travel Service.
www.vikingrecruitment.com

Tenders & Toys

Superyacht Tenders & Toys
Superyacht Tenders & Toys have a high level of expertise in providing new build and custom tenders, chase boats, RIBs & all popular yacht toys. With an unrivalled global service network, maintaining a personal & bespoke service, wherever you are in the world, Superyacht Tenders & Toys can help.
www.superyachttendersandtoys.com

Shore Power Convertors

ATLAS MARINE SYSTEMS
Atlas Marine Systems, the world leader in the design of marine electrical power systems, offers a full range of engineering services necessary to define the onboard electrical distribution system or simply the application of the Atlas power conversion products.
www.AtlasMarineSystems.com

Satellite Communication

BestVSAT.com
Over 40 VSAT providers want your contract. BestVSAT.com is a 100% free service. We find the best deals for you - saving you time and money while increasing internet speed and quality aboard. Give it a try - it is absolutely free.
www.bestvsat.com

Navigation

Raytheon Anschuetz
Integrated Navigation Systems based on state-of-the-art technology and decades of experience in the superyacht industry. Ultimate knowledge and flexibility in system integration. Dedicated customer care throughout the whole project and beyond.
http://yacht.raytheon-anschuetz.com

Satellite Communication

Marlink AS
Marlink offers seasonal, flexible contracts to match regional sailing requirements. Through our dedicated account managers & customer services, we develop personal relationships with customers & drive innovations to develop digital solutions & smart applications that take you beyond just connectivity.
www.marlink.com

Add your company listing here

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

Add my company listing