Yacht Brokers Insurance

Master Yacht Brokers & Independent Contractors (non employees)

Yacht Brokers and their Independent Contractor brokers are exposed to the following risks;

• Bodily Injury or Property Damage to their clients
• Property Damage to boats in their Care, Custody & Control (MOLL)
• Errors or Omissions in their advertising and marketing and documentation.
• Independent brokers are not covered by the Master Brokers policy unless they are employees.
• Marina’s require Certificates of Insurance to show a boat on their premises

Comprehensive General Liability (CGL)

Global Marine has designed exclusive package policies to cover these exposures;

• A combination Comprehensive General Liability (CGL) and a MOLL which covers the CCC policies for the Master Broker at very competitive premiums.
• An “add on” combination CGL & MOLL policy for the Independent Contractor broker.

Yacht Brokers Errors & Omissions

Global Marine can provide Yacht Brokers E&O insurance that has been endorsed by the Florida Yacht Brokers Association at very competitive rates with various companies and coverage features.

• This is a Lloyds of London policy.
• This is a “Claims Made” policy.
• Various limits of $300k to $1,000,000.
• Deductible of $1,500 including defense cost.
• Independent contractor (broker) not insured.

Captains Professional Liability

Global Marine can provide Professional Captains Liability for those brokers who are also captains to cover their outside captain exposures.

• Limits of $500,000 & $1,000,000 available.
• Yacht Brokers “One stop shop” for all required insurance from Global Marine.
• Comprehensive General Liability and Marine Operators Legal Liability for Master Brokerage.
• CGL & MOLL for each Independent broker.
• Yacht Brokers Errors & Omissions.