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Yachtsafe Global Bespoke Insurance / Unparalleled service

Yachtsafe Global Overview /

Yachtsafe Global, LLC. Provides Bespoke yacht insurance solutions. We exceed service expectations, outpacing today’s complex marketplace comprehensively protecting you, your family and your valued investment on a Global basis.

Our experience, expertise and commitment to confidentially, partnered with our world leading partners, ensuring optimal protection, where every you may explore.

What Includes Coverages /

• Hull & Machinery
• Protection & Indemnity (inc. pre-delivery)
• Loss of hire
• War & Piracy Risks
• Kidnap & Ransom
• Extended legal Coverage (F D&D)
• Port risks (inc. limited navigation)
• Yacht builders risk
• Charterers liabilities
• Crew medical & crew welfare coverage
• Global Trip Cancellation / Interruption Coverage

50 Plus Years’ Experience Global Partnership /

Yachtsafe’s Bespoke yacht program provides exclusive:

• Global Yacht registration assistance
• Access to European competitive pricing rates
• Multinational Ownership Programs UBO (certain restrictions apply)
• Reduced deductibles
• Insured Hull Values from $5M to $200M+
• P&I coverage from $5M to $500M

Todays Challenges for Clients Specialties /

Owners are experiencing rate increases of 20% – 50% and more. Premiums are still less than say 10 years ago, however we have very limited Capacity now compared to then.

• Older yachts (Depends on carriers)
• First time buyers
• Increased in size of vessels
• Yacht coverage in South Florida or Caribbean
• Absentee owners
• Towing of tenders
• Non-US citizens or clients

We provide solutions to many of the challenges in today’s market, via our “bespoke” programs and out of the box approach.

Meet Us Our Team /

Having been around boats and yachts for more than 40 years, I have always had a strong passion for the water. My career has taken me to seas and oceans around the world. Beginning my career in the UK and English channel, I transitioned to spending several year in the middle east (Abu Dhabi & Dubai), and then to the Mediterranean, all with work within the marine, automotive and aviation businesses.

I spent 5 years with Marsh as the Senior VP leading the Global Yacht division.  I then started the first of my companies, Private Insurance Services.  Private Insurance Services was acquired a few years ago, allowing me to retire from the corporate world in 2021. However I discovered that retirement was not for me – thus, the birth of Yachtsafe Global, LLC based here in Ft. Lauderdale, FL. I’m honored and humbled to say that the response from former clients and industry leaders has been heartwarming.

It would be my pleasure, and that of my outstanding team members, to assist in meeting all of your yacht insurance needs.

Meet Dylan, a seasoned yacht insurance underwriter with a decade of experience in the industry. Dylan specializes in both private pleasure and commercial risks and is dedicated to providing comprehensive coverage solutions to clients with a deep understanding of the unique challenges facing yacht owners and operators. Dylan is known for his expertise in risk assessment and mitigation, providing personalized insurance solutions tailored to each client’s individual needs. Dylan has a proven track record of exceptional service, ensuring clients are protected against potential risks and liabilities, making him a trusted advisor in the yacht insurance market. Contact Dylan today to learn more about his yacht insurance services.

How Can We Help You? Contact Us /

Address: 1524 SE 12th Street, Suite 6 Fort Lauderdale, FL 33315

Phone: 954-955-8339

Email: [email protected]

CALL 800.616.0599    -  OPEN 7 DAYS A WEEK      

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OMAC is hull insurance carrier for sunken yacht in Sicily

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Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say

Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-meter-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter said.

The syndicates providing insurance include Travelers Companies Inc., Navium Marine and Convex, while British Marine is the protection and indemnity (P&I) insurance provider, the sources said.

Reuters could not ascertain the value of the yacht or what the value of potential claims could be.

Update: Divers Retrieve 5th Body From Mike Lynch Yacht Sunk Off Sicily

Ships typically have P&I insurance, which covers third-party liability claims including environmental damage and injury. Separate hull and machinery policies cover vessels against physical damage.

Convex declined to comment, while OMAC, Travelers, Navium and British Marine did not immediately respond to Reuters’ requests for comment.

The British-flagged superyacht was carrying 22 people and anchored off the port of Porticello when it was hit by a fierce, pre-dawn storm on Monday. Fifteen people managed to escape the yacht before it capsized.

Four bodies were found on Wednesday aboard the sunken wreck of the yacht belonging to the wife of British tech magnate Mike Lynch, sources close to the rescue operation told Reuters.

Morgan Stanley’s and Hiscox’s Bloomer Among Those Missing After Yacht Sinks

The global yacht insurance market has faced significant challenges in recent years, largely due to natural disasters like Hurricane Maria in 2017 and Hurricane Ian in 2022, which devastated numerous charter bases and hundreds of yachts.

In response, insurers have increased rates and reevaluated their guidelines and risk appetite. Insured losses in the market have mostly stemmed from hurricanes, severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh .

(Reporting by Noor Zainab Hussain and Manya Saini in Bengaluru; editing by Michelle Price and Sandra Maler)

Photograph: Italian firefighters scuba divers are docked at the harbor of Porticello, southern Italy, Tuesday, Aug. 20, 2024, as rescue teams returned to the site of a storm-sunken superyacht to search for six people, including British tech magnate Mike Lynch, who are believed to be still trapped in the hull 50 meters (164-feet) underwater. (AP Photo/Salvatore Cavalli)

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• Categories: International & Reinsurance News Topics: British Marine , Convex Group Ltd. , marine insurance , marine liability insurance , Navium Marine , OMAC , protection and indemnity (P&I) , superyacht insurance , The Travelers Cos. , yacht insurance
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With Freight Off the Rails, Rare Open Tracks for Passenger Trains

The brief lockout of freight railway workers gave Via Rail Canada trains a temporary reprieve from their second-class status.

By Ian Austen

If anyone benefited from the short lockout at the Canadian National and Canadian Pacific Kansas City railways this week, it might have been passengers on most Via Rail Canada trains.

[ Read: Canadian Government Orders Arbitration and End to Rail Freight Shutdown ]

[ Read: What a Prolonged Rail Shutdown in Canada Would Mean for Trade ]

The lockout on Thursday was not quite 17 hours old when Steve MacKinnon, the federal labor minister, said he had told the Canada Industrial Relations Board to formally order the railways to restart service and to impose a contract through binding arbitration. He predicted that trains on the two freight railways would be running again within days.

Exactly how many days was still fuzzy on Friday afternoon. The union representing the 10,000 workers, the Teamsters Canada Rail Conference, has said it opposes arbitration. It also filed a formal notice with Canadian National that it intended to go on strike against that railway on Monday and that it was keeping lockout pickets in place.

With the exception of one route in Northern Ontario, however, it’s been business as usual for Via. Its trains largely travel on Canadian National’s track as well as the comparatively small sections of track it owns near Ottawa and Windsor, Ontario.

Unlike their counterparts at Canadian Pacific Kansas City, the dispatchers who control the traffic along Canadian National’s rails are covered on a different contract and remained at work.

The lack of freight trains on the rails eased, at least temporarily, the single biggest factor when it comes to keeping Via’s trains on time. In the United States, federal law requires that Amtrak passenger trains be given preference over freight trains when running on freight railways’ tracks. (However, the United States Justice Department recently charged one of the largest freight lines in the country with illegally delaying passenger trains .)

Parliament did not give Via any such status. While weather, accidents and mechanical issues play roles, the most consistent factor behind delays on Via is the need for its trains to pull over and wait to allow freight trains to pass. Last year, just 59 percent of Via’s trains were on time. (Air Canada was not dramatically better: 63 percent of flights were on time last year.)

The latest scheme for improving train service between Windsor and Quebec City involves adding separate rails for passenger trains. And while the government is carefully avoiding comparing VIA HFR , the proposed passenger-only project, to high-speed trains in Europe and Asia, such a project would also increase train speeds. The new trains Via Rail is now rolling out, for example, have a top speed of 200 kilometers an hour but are limited to 160 k.p.h. on the current tracks.

The project’s initials stand for High-Frequency Rail — the idea being that frequent, relatively fast and reliable trains will lure passengers out of cars and planes, but at a significantly lower, if still multibillion-dollar, cost compared with high-speed trains.

VIA HFR is technically a subsidiary of VIA Rail and, as a result, owned by the government. But its spokesman told me that the two companies operate at arm’s length and that VIA HFR has complete authority over the new project.

VIA HFR would largely privatize rail travel along the 1,000-kilometer route that now accounts for 96 percent of Via’s passengers and 82 percent of its ticket revenue. It has asked three groups of companies to submit proposals to build the line and then operate and partly own the train system. Its land and infrastructure would remain under government ownership.

Last month, on the deadline day for proposals, Air Canada announced that it was joining a group that includes AtkinsRéalis Canada, the engineering and construction company that previously called itself SNC-Lavalin, and an infrastructure management and construction company owned by the Caisse de Dépôt et Placement du Québec, the province’s pension fund.

It was something of a surprise given Air Canada’s vigorous past opposition to any passenger rail network improvements.

Beyond a brief statement , Air Canada has said little about the change in its thinking. It did not respond to my questions about its newfound interest in rail.

It is common in many countries for airline tickets to cover rail connections to the passenger’s final destination. Air Canada itself sells them to European cities.

Linking trains and planes can be more efficient and convenient than putting passengers on short-haul flights. The reduction in direct flights from Ottawa since the pandemic means that I now frequently connect in Montreal. In my experience, the absurdly short connecting flight back to Ottawa is often delayed, sometimes for longer than even a particularly slow train would take to complete the leg.

Jacques Roy, a professor at the HEC Montréal business school, has researched high-speed rail for decades and once wrote a study for the provincial government about linking it with air travel. When I asked him if it was necessary to have airline ownership of rail services to integrate planes and trains at airports, his answer was blunt: “No.”

Worse, he said, such a dynamic creates the possibility that Air Canada will block other airlines from integrating their flights with the new trains. In Europe, he said, “there’s no exclusivity.”

Transport Action Canada, a public transportation group that advocates the interests of passengers, goes further. It doesn’t want any Air Canada involvement in the new project.

“We are very supportive of good railway connections at airports,” Terry Johnson, the group’s president told me. “You just don’t have to have an airline own it.”

Trans Canada

Eric Kim, a food and cooking columnist for The Times, tells the story of Logan Moffitt, the 23-year-old from Ottawa who has become TikTok’s “Cucumber Boy.” And Amelia Nierenberg reports that the cucumber mania set off by Mr. Moffitt’s video recipes has created cucumber scarcity in Iceland.

A mining company based in Vancouver operating in Botswana has unearthed a 2,492-carat stone that is the biggest diamond mined in more than a century and the second-largest ever found.

Recaldo Thomas, a chef who was born in Canada and raised in Calgary, was among the people who died when a luxury yacht sank off Sicily. It’s still unclear why the $40 million ship sank so rapidly after being hit by a violent storm.

Ben Ryder Howe dissects the popularity of Costco , which has become one of the five largest food retailers in Canada.

A woman from Victoria was rescued after she was lost in the Colorado mountains for four days during a guided spiritual “quest.”

A native of Windsor, Ontario, Ian Austen was educated in Toronto, lives in Ottawa and has reported about Canada for The New York Times for two decades. Follow him on Bluesky at @ianausten.bsky.social .

How are we doing? We’re eager to have your thoughts about this newsletter and events in Canada in general. Please send them to [email protected] .

Like this email? Forward it to your friends, and let them know they can sign up here .

Ian Austen reports on Canada for The Times based in Ottawa. He covers politics, culture and the people of Canada and has reported on the country for two decades. He can be reached at [email protected] . More about Ian Austen

Around the World With The Times

Our reporters across the globe take you into the field..

Women’s Safety in India: The rape and murder of a trainee doctor at a hospital in Kolkata   has raised uncomfortable truths about a country that wants to be a global leader.

The ‘Plant Messiah’ : Carlos Magdalena, whose botanical adventures have shades of Indiana Jones, was a driving force in saving the world’s smallest water lily  and finding the largest one.

Old Bombs, Deep Lakes : Switzerland is offering $58,000 in prize money for ideas to remove munitions from the depths, in case they start polluting. The catch: The cure can’t be worse than the problem.

Mennonites in the Amazon: Seeking inexpensive land far from modern life, groups of Mennonites are carving out new colonies in Peru . There are fears they are adding to the deforestation of the jungle.

Horseless Carriages: Brussels’s last horse-drawn carriage operator says business has been good since making the switch to electric carriages , placing the Belgian capital in the vanguard of a global change.

Yacht insurance provider OMAC is hull carrier for sunken yacht in Sicily, sources say

Rescue boats return to Porticello harbor near Palermo, after they found two bodies, on Aug. 21, two days after the British-flagged luxury yacht Bayesian sank. ALBERTO PIZZOLI/AFP/Getty Images

Yacht insurance provider OMAC is the carrier on the hull for the Bayesian, a 56-metre-long (184-ft) sailboat, that was hit by a ferocious storm on Monday, sinking off the northern coast of Sicily, two sources with knowledge of the matter said.

The syndicates providing insurance include Travelers Companies Inc, Navium Marine and Convex, while British Marine is the protection and indemnity (P&I) insurance provider, the sources said.

Reuters could not ascertain the value of the yacht or what the value of potential claims could be.

Ships typically have P&I insurance, which covers third-party liability claims including environmental damage and injury. Separate hull and machinery policies cover vessels against physical damage.

Convex declined to comment, while OMAC, Travelers, Navium and British Marine did not immediately respond to Reuters’ requests for comment.

The British-flagged superyacht was carrying 22 people and anchored off the port of Porticello when it was hit by a fierce, pre-dawn storm on Monday. Fifteen people managed to escape the yacht before it capsized.

Four bodies were found on Wednesday aboard the sunken wreck of the yacht belonging to the wife of British tech magnate Mike Lynch, sources close to the rescue operation told Reuters.

The global yacht insurance market has faced significant challenges in recent years, largely due to natural disasters like Hurricane Maria in 2017 and Hurricane Ian in 2022, which devastated numerous charter bases and hundreds of yachts.

In response, insurers have increased rates and reevaluated their guidelines and risk appetite. Insured losses in the market have mostly stemmed from hurricanes, severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

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Historic nuclear-powered ship now open to new…

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Historic nuclear-powered ship now open to new ownership, possible move from baltimore.

The Nuclear Ship (N.S.) Savannah — the first nuclear-powered ship ever built explicitly for peacetime purposes — has been moored in a quiet corner of the Canton Marine Terminal in Baltimore since 2008.

Constructed at the height of the Cold War as part of a government program aimed at demonstrating the nondestructive uses of nuclear power, the sleek 21,800-ton vessel achieved just that for nearly a decade, logging nearly half a million nautical miles and visiting 45 countries.

But the Savannah’s life in Baltimore could soon be coming to an end. The agency that owns and operates it — the U.S. Maritime Administration, or MARAD, a division of the federal transportation department — is nearing the end of the lengthy and complicated process of nuclear decommissioning, or removing enough vestiges of its nuclear capabilities to satisfy the U.S. Nuclear Regulatory Commission.

That means it will at some point in the fairly near future it will be open for “conveyance,” in federal parlance — transfer of ownership to another entity — to be used in whatever fashion and for whatever purpose that entity decides, so long as it entails preservation of the ship.

Erhard W. Koehler, senior technical advisor for the Savannah, says that doesn’t mean some otherwise bored billionaire can write a check and have it towed home for his or her own amusement.

But it does mean MARAD has made it known that it’s willing to donate the formerly nuclear-driven merchant ship to a science or history museum as a potential educational enterprise, to a state or municipality as a historic attraction, or to another entity for commercial or other use.

MARAD could also lease the Savannah for similar use or even convey ownership to an organization that mainly wants to keep its signature elements intact, Koehler said, whether it be the tall, narrow chamber that housed its 74-megawatt nuclear reactor, its open bar and 75-seat dining room with their space-age, “Jetsons”-like decor, or its kitchen that contains an early, water-cooled incarnation of a microwave oven.

Those who have spoken with MARAD on the subject so far include officials from Hudson County, New Jersey, and from the seaport cities of Savannah, Georgia, and Wilmington, North Carolina.

“I feel good about the prospects,” said Koehler, who has directed operations on the Savannah since 1993 and has been touting the ship’s virtues at meetings around the country for months. “I feel that there’s enough interest out there, enough of a recognition that the ship is really in a turnkey condition — including interest in one of its most attractive features, the preserved components of the nuclear power plant — that I have confidence that someone out there will take it.”

The Savannah is probably less well known to the general public than many of its sister ships in and around Baltimore, whether it be the USS Constellation and the LV 116 Chesapeake, which are moored in the Inner Harbor and host regular visitors’ hours, or the S.S. John Brown , the Liberty ship berthed beside the Savannah that can be chartered for excursions.

But those who have have taken any of the monthly Saturday tours of the Savannah, or even one of the occasional joint tours of the Savannah and the John Brown sponsored by the American Nuclear Society, can attest to its special appeal to nuclear-power aficionados and maritime history buffs as well as civilians with a taste for the sleek, simple lines of midcentury interior design.

Approach it from the docks and you’ll see its yacht-like white hull, one side marked with an image of electrons zipping around a nucleus. Head up a set of steel steps, go across a walkway, and enter the reception area, and you’ll spot a flag of the old Atomic Energy Commission, an orange Naugahyde sofa that might have looked at home in the flying saucer on “Lost in Space,” and a placard announcing that the ship “demonstrates the intent of the United States to use Atomic Energy for Peaceful Purposes.”

The notice is signed by Lyndon Johnson, though that’s only because Johnson was president when the sign was made. It was President Dwight D. Eisenhower who in 1955 developed and promoted the idea as part of Atoms for Peace, the initiative he spearheaded in part to quell public fears about nuclear armament in the wake of the horrors of the bombings of Hiroshima and Nagasaki in Japan and the nuclear tests of the early 1950s. The ship, which took four years to build and test, went into service in 1962. (The total cost — about $47 million, or more than $473 million in today’s dollars — included $2.3 million for the reactor alone.)

With cabins for 60 travelers and seven water-tight cargo holds, the Savannah — named for a historic steamship of the same name and the port city they shared — “offered unparalleled speed and endurance” with a “nuclear propulsion system [that] allowed it to cover extensive distances without refueling,” thus “showcasing the potential use of nuclear energy for peaceful purposes,” according a website for the NS Savannah Association, a nonprofit that  “promotes, protect and preserve the world’s first nuclear powered merchant ship.”

The ship spent the next three years as a passenger-cargo liner, ferrying its charges up and down the American East Coast, throughout the Gulf states, and to Germany, Holland and the British Isles. It sometimes docked for days, serving as an exhibition space for informational programs. (Carson’s show featured it as part of a “Nuclear Week in New York” extravaganza in 1969.) It operated as a cargo-only carrier through the late 1960s and was removed from service to save money in 1971.

Those who know the Savannah say that legacy gives it a one-of-a-kind profile.

“The Savannah represents a unique moment and artifact relating to the Cold War, in which the concept of atomic power for peace directly conflicted with atoms for war,” Paul F. Johnston, the curator of maritime history at the Smithsonian’s National Museum of History in Washington, said in an email to The Baltimore Sun. “It was a symbol of our nation’s wealth, power and peaceful global aspirations during times of conflict.”

The ship was listed on the National Register of Historic Places in 1982 and named a National Historic Landmark in 1991. It was granted the latter honor even though it was less than the normally required age of 50 thanks to its “exceptional national significance,” according to a National Park Service study.

Since its days of active use, the Savannah has been owned by and berthed in the city of Savannah, acquired by the federal government, and been moored in places ranging from Galveston, Texas, to Newport News, Virginia. MARAD moved it to Baltimore, where it has been anchored in Canton under a long-term contract with the Vane Bros. maritime services company since 2008.

Seeing the vessel through to a new era is a slow and complicated undertaking, one that requires “safely taking the facility out of service, removing the fuel, and then ultimately, in a very careful and controlled process, dismantling and remediating the [nuclear] structures and components, disposing of the resultant waste in licensed facilities, and restoring the site to a condition where its [nuclear] license can be terminated and the residual radioactivity does not pose any threat to the environment or to the public or future residents” Koehler says.

MARAD officials have already achieved most of that. The reactor was removed and taken to a nuclear disposal site in Utah in 2022, leaving enough of its “signature components” in place to keep it compliant with National Historic Preservation Act, the document that covers its standing as a federal historic landmark.

Once Nuclear Regulatory Commission surveyors formally approve its condition, MARAD will be able to apply for termination of the ship’s nuclear license, a ruling that would free the agency to “button the ship up and get it ready to go wherever it’s going to go,” in Koehler’s words.

If the bureaucratic dominoes fall into place, Koehler says termination should happen in October of next year, freeing the Savannah for conveyance by March 2026.

Whoever acquires it will have a unique facility. Even now, guests can view its massive engine room, peek into the cylinder that once held the nuclear reactor, step into the carpeted multi-purpose room that houses speeches and seminars. and visit a dining room that boasts such treasures as a floor-to-ceiling curved wall sculpture, “Fission,” created by the French artist Pierre Bourdelle. And Johnston, who visits often, says the multi-colored electroluminescent wall sculpture behind the bar and the mosaic swimming pool just outside the window have a special draw.

Such details will make it hard for some to let go of the ship, should it end up somewhere else. Dundalk native Robert Adams  first discovered it in 2009, became a tour guide in 2017, and spent so much time aboard learning its its history and technological profile that he eventually became president of the association, a role he still holds.

It will be heartbreaking, he said, should the vessel be moved elsewhere, but all he really wants is the best for the facility his wife jokingly refers to as “the other woman.”

“If someone takes her and is doing a good job with her, we may be able to mark our job as finished,” he said. “I’ll do everything I can for her.”

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