Suit includes AD&D benefit covering all owners, captain, crew, and guests
Global Marine and Energy Division (GMED) of AIU Holding, a property casualty and general insurance organization, has introduced new coverage suit for yachts valued at over $2 million. The new added suit is available to boat and yacht owners, crews, passengers and vessels.
According to AIU, suit includes personal concierge services, worldwide travel assistance/reservations, marina services, and emergency medical and evacuation assistance. It also includes an Accidental Death & Dismemberment benefit (AD&D), covering all owners, captain, crew and guests for activities while boarding, on board, and disembarking the insured vessel. An individual limit of $25,000 and an aggregate limit up to $125,000 is available.
These new coverages supplement the yacht policy’ standard coverage, which consists of expanded liability for captain and crew, automatic fine art protection, tailored navigational limits, loss of charter hire, and additional living expense.
GMED also claims to provide protection to the owners of watercraft (19 feet or more) worth up to $2 million.