Chubb has been appointed as the preferred insurance provider for Safe Harbour Marinas under an exclusive agreement, giving members at more than 150 marinas access to Chubb’s Masterpiece Select Recreational Marine Insurance.
The insurance policy includes coverages such as total loss settlement without a deductible, no depreciation on partial losses, mechanical and electrical breakdowns, rental reimbursement and replacement cost coverage.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
It offers protection against risks such as collision, fire, demasting, explosion, sinking and stranding – events that are often outside standard coverage.
The policy also covers liability, uninsured or underinsured boater incidents, personal property, emergency towing and service, and hurricane haul-out measures.
Chubb senior vice-president and recreational marine leader for personal risk services Kimberly Finlay said: “We are thrilled that Safe Harbour has entrusted Chubb to help protect its members and enhance their time on the water.
“This collaboration reflects our shared commitment to providing boating enthusiasts with exceptional coverage and service tailored to their needs.”
Earlier this month, Chubb detailed the structure of a new maritime insurance facility developed with the US International Development Finance Corporation (DFC).
The insurer was recently named lead underwriter for the DFC’s $20bn Maritime Reinsurance programme.
Chubb will manage the programme’s pricing, coverage terms, risk assumption, policy issuance and claims administration.
The facility will offer war hull risk insurance, war protection and indemnity insurance, and war cargo insurance. Ships passing through the Strait of Hormuz will be eligible for coverage under certain conditions.
