At Aphentrica we spend time with our clients acquiring the knowledge and understanding of their operations required to design the most beneficial coverage. Drawing from our experience and strong relationships in the insurance market place, we can guide our clients to the most appropriate cover, aligned to risk appetite, at the most competitive price backed up by a respected service team capable of providing full claims advice and support.

Whilst Hull and Machinery and War Risks covers will provide protection against physical loss or damage and P&I cover will cover an owner or manager against third party liabilities, they do not offer cover for the loss of income.

As part of our role to consult our clients, we analyse our clients’ needs and find the most appropriate cover for them to guarantee their income stream through Loss of Hire and/or Delay insurances which are tailored to protect the differing exposures of Owners, Charterers, Managers and Financiers.

There are three main classes of coverage:

Physical Loss or Damage – the policy responds for time lost by the vessel, as a result of physical loss or damage, so long as the loss has resulted from an Insured Peril. Generally speaking the policy will cover against the perils defined in the vessel’s Hull and Machinery Policy.

Extended Loss of Hire – this cover protects against events either onshore or onboard which have not necessarily caused damage to the vessel, but do nevertheless prevent the use of the vessel. These could include events such as strikes of crew or shore workers, alleged pollution, crew desertion (or detention), stowaways, heavy weather etc.

Primary Delay coverage – This product protects owners against loss of revenue suffered during delays falling into the primary layer for the first 14 days delay following an incident. We have strong relationships with all of the specialist markets who provide this coverage and a wealth of experience working with the products.

As a charterer you face many diverse exposures which require careful thought in order to properly align your liability cover with your risk appetite. For those advising you, it requires a knowledge and understanding of your business dynamic; an appreciation of how the legislative and economic

environment impacts that exposure; an awareness of potential risks linked to the creditworthiness of your trading partners; An understanding of jurisdictional peculiarities connected with your trades, including any custom of the trade; and an appreciation of the bargaining parity between

The design, capabilities, furnishings and works of art on board all reflect the individual tastes of their owners, as do the leisure activities for which the yacht is equipped. Additionally the crew’s accommodation, at times found on a shadow craft, all mean that the owner’s individuality has to be reflected in the coverage that is created for them. Through our close relationships with some of the leading industry players for this class of risk and can provide special facilities for a yacht of any value. We make it our priority to establish the specifics of the client’s yacht and its activities and develop a bespoke coverage

which brings the client the same security and quality of service that we have offered our major shipping clients for many decades. We can advise owners on the various clauses utilised for providing coverage for damage and associated liabilities and tailor these wordings to reflect the specific trade and operations of these unique assets. We can also advise on the building and conversion exposures associated with yachts, which is a specialist area in itself. We also have significant experience in handling unique yacht claims from major damage to total losses.