Aon and Nautor’s Swan partner for insurance agreement
The two parties have entered into a partnership to offer custom insurance packages…
Sailing yacht builder Nautor’s Swan has announced that it has entered into a partnership with Italian consultant, insurance and reinsurance provider, Aon. According to the shipyard, the two parties have entered into this partnership to offer custom insurance packages for Nautor’s Swan sailing yachts, beyond what was initially available in the market, after it was identified that the vessels need more specific cover.
Positioning itself as a ‘360-degree risk manager’, Aon’s role in this agreement will extend beyond the insurance remit, by offering Nautor’s Swan clients an ad hoc consultancy service, that analyses the different risk scenarios according to the type of boat and its intended use, and the relative insurance coverage for the best mitigation of the risks identified.
As a result of the recent natural events, the re-insurance market has tightened and, from our point of view, with framework agreements it is possible avoid the increasing of the costs and the limitations of the guarantees,”
- Paolo Mascino, Aon yacht specialist
“This agreement was devised in order to offer Swan’s owners a ‘tailor-made’ consultancy service, analysing the different risk scenarios according to the type of boat and its intended use, and the relative insurance coverage for the best mitigation of the risks identified,” says Paolo Mascino, Aon’s yacht specialist. “We are talking about high-value yachts, that today, can also incur a growing number of unpredictable catastrophic events, such as natural ones, deriving from adverse weather conditions, as the recent Italy cases have shown.”
“As a result of the recent natural events, the re-insurance market has tightened and, from our point of view, with framework agreements it is possible avoid the increasing of the costs and the limitations of the guarantees,” Mascino continues.
Aon plans to provide Nautor’s Swan owners with a round-the-clock service with assistance from ‘specialised experts. Aon’s insurance package covers a multitude of scenarios, such as those in the course of navigation, racing, during storage in the water and on land, from impact or entanglement, fire and robbery, earthquakes and natural disasters, malicious or vandalism acts, and assistance and rescue among others.
Commenting on the agreement, Giovanni Pomati, CEO of Nautor's Swan Group says, "We are pleased and proud to have among our partners the Aon Group. This new collaboration was born to meet the needs and desires of our owners offering, thanks to Aon, a highly-qualified and diversified service for the boats that are part of our three product lines: Maxi Yachts, Swan Yachts and ClubSwan Yachts.”
“This was an agreement that needed to happen as we would like to give our owners a direct line with Aon, as there will be a proper team that will be dedicated only to our owners.”
- Nautor's Swan
Speaking to SuperyachtNews, a representative from Nautor’s Swan confirmed that, “This was an agreement that needed to happen as we would like to give our owners a direct line with Aon, as there will be a proper team that will be dedicated only to our owners.”
Affirming that there are issues within the superyacht insurance market the anonymous representative explained that, “the agreement was devised to offer our owners the chance to have a dedicated insurance broker that could give feedback on a timely basis and personalised according to the yacht model and use.”
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