Ezine July 2010


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Newsletter covering Super Yacht Industry, Marine Trades & Leisurecraft Sectors

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Ezine July 2010

  1. 1. I n s u r a n ce R i s k & C l a i m s Ma n a g em en t L t d Summer 2010 Marine Insurance & Risk Management Going Global! Sealine & Palmer Johnson switch to IRCM IRCM, the specialist Marine Division of the award winning KGJ Group, has been ap- pointed by the US Leisure Industry giant, the Brunswick Corporation, to manage the insurance program of its lux- ury motorboat manufacturer, Sealine. The Kidderminster-based manufacturer of modern and spacious sport cruisers and INSIDE THIS ISSUE: flybridge motor yachts is the Sealine’s T60 Aura latest prestige boatbuilder to Marine Trades News 2 appoint IRCM track record in proactive claims support and risk man- The appointment of IRCM by Super Yacht Sector 2 agement services in the Ma- Sealine comes on the heels Richard Cox, Managing Direc- rine Sector”. tor of KGJ said “The appoint- of the Wolverhampton-based Fletcher Boats 3 ment of IRCM by the Bruns- broker securing the insur- wick Corporation is a further Brunswick also own brands ance contract with Palmer Dunkirk Return 3 endorsement of our expertise such as Bayliner, Boston Johnson Yachts (UK), includ- in delivering blue chip Marine Whaler, Mercury and Mariner ing the provision of builders Kenya Jacaranda 3 Insurance solutions. in addition to being joint own- risks insurance management ers of Cummins Mercruiser for vessels being built in the Diesel. IRCM will be support- UK. Health & Safety 4 Carl Holland of Sealine said ing Brunswick dealers in the “One of the main factors in UK by sourcing exclusive Newsround 4 the decision to appoint IRCM Richard Ward of IRCM said insurance premiums for their “We are delighted to be work- was based on their proven businesses. About IRCM 4 ing with one of the World’s leading manufacturers of Super Yachts. Our commit- ment to providing bespoke programs with a scope of cover not traditionally avail- able in this sector, means we are able to deliver a truly unique service to the Super Yacht industry”. IRCM is able to provide all classes of insurance to its clients ensuring a seamless IRCM is part of the award-winning and cost effective solution is KGJ Group of Companies delivered. Palmer Johnson’s PJ 150 Sports Yacht Brunswick Dealers interested in obtaining competitive insurance quotations should contact Mark Elcocks, IRCM’s Specialist Risks Manager on 01902 796 793 or markelcocks@kgjgroup.co.uk
  2. 2. Page 2 I R C M— M or e th a n ju s t a b r ok er BOWLINE® FOR MARINE TRADES IRCM’s trademark Bowline insurance concept is being extended to IRCM’s Ma- rine Trades clients. Bowline is based on sourc- ing a bespoke insurance program from available markets that ensures the precise requirements of the business are matched to the most appropriate products at the best avail- able premiums. Yacht Bowline for Marine Trades is designed to Management Palmer Johnson’s World Yacht Companies: prevent the gaps in cover that typically occur when businesses buy direct from We can source insurers or underwriting comprehensive & agencies. bespoke insurance Covers such as Directors & Officers Liability, Employ- programs for you and ment Practices Liability, Spe- your clients. cial Types Road Risks Cover, Professional Indemnity, as well as Health & Safety, Risk Management and in-house Competitive Premiums claims support are all pro- & Outstanding vided as part of Bowline. Introducer Commissions Palmer Johnson’s PJ 170 Sports Yacht No restrictions on size New Insurance Facility for Trades Servicing Super Yacht Sector of vessel Businesses providing are protected against only £750 the policy is components to the super their product failing in the within the compass of the Call Mark Elcocks yacht sector have access purpose for which it was sole trader as well as the to a new and exclusive designed - protection that SME market. 01902 796793 insurance facility through is excluded on most other The policy also automati- IRCM. Underwritten by Marine Trades policies. cally includes benefits such Catlin, specialist insurers Mark Elcocks, Specialist as Directors & Officers In- to high-risk marine, auto- Risks Manager at IRCM demnity and Commercial motive and aerospace said “Many business own- Legal Expenses insurance trades, the exclusive ers believe that their prod- — essential protection for scheme is suitable for ucts are indemnified businesses in a climate businesses that provide against failure if they where litigation against components and parts to have products liability management for the deci- the Super Yacht and Ship insurance—this simply is sions they take as company Building Sectors. not the case. With the directors is now prevalent. In addition to the A Rated potentially huge claims For further information tele- security of Catlin, the new potential in this sector phone Mark Elcocks or scheme provides product businesses need to fully Steve Rollins on 01902 efficacy cover as a stan- indemnify their products” 796 793. dard benefit under its IRCM’s new facility closes Products Liability Section. This means businesses this gap in cover and with premiums starting from Bowline®
  3. 3. I R C M— In su r in g Y ou r A d v en t u r e s Page 3 Fletcher Boat Scheme Relaunched Major sports boat manu- Would you like an facturer, Fletcher Boats, recently appointed IRCM insurance scheme to to manage its business insurance program. IRCM offer your customers? Director Pat Ward, who used to be the UK’s larg- est Fletcher Boat dealer We can tailor an before founding IRCM insurance scheme to suit said “Fletchers is a brand with Worldwide recogni- your clientele tion and we are delighted to be working with them”. alongside sister company vides automatic cover for Over 80,000 Fletchers SBS Trailers. The busi- waterskiing, wakeboard- Call Mark Elcocks on have been built since the ness also carries out re- ing and towing in addition 01902 796 793 for brand was first launched pairs for owners and has to several other unique and the new IRCM insur- an extensive spare parts features. further details ance scheme is available section. Please telephone IRCM’s to owners of any model, In addition to pledging to Senior Leisurecraft Under- new or used. offer the most competitive writer,Sarah Fitzgerald for Fletchers are manufac- premiums, the Fletcher further information on tured in Wolverhampton Boat Scheme also pro- 01902 796 793 Classic & Historic Vessels Kenya Jacaranda Heritage Sailing is a registered charity devoted to restoring the 1925 Cornish Trawler, Kenya Jaca- randa to its former glory and to then pro- vide sailing experience to people from all walks of life. “KJ” (pictured left & below) is one of the latest historic vessels to join IRCM provide IRCM. Members of the public interested in assisting the charity should visit insurance for hundreds www.kjappeal.org for further details. of Classic and Historic Every 5 years The Association of Dunkirk Craft and manage Little Ships (ADLS) organises a cross- insurance programs for channel return to Dunkirk. Over 50 Little Ships made their way from Ramsgate to many of the UK’s Dunkirk at the end of May to mark the 70th anniversary of Operation Dynamo. premier Classic HMS Monmouth, a Type 23 Duke Class Frigate acted as escort ship for the cross- Boatbuilders and ing and ceremonies in Dunkirk. Restorers IRCM, who insure many Little Ships on its Classic Boat Scheme, was able to assist other owners with additional cover to make the crossing, in addition to organis- ing special event cancellation cover for the voyage. Further details about the Association and its Register of vessels can be found at www.adls.org.uk.
  4. 4. Page 4 I R C M— M or e th a n ju s t a b r ok er I n su r an c e R i s k & C l a im s M a n ag e m e n t L t d Important Health & Safety Alerts Three Charter Court Broadlands Wolverhampton WV10 6TD Health & Safety Update resulted in 150 people Corporate Manslaughter being evacuated through Part of the award-winning KGJ Group of The Fire Safety Engineering A record fine of £400,000 the main entrance of the The Sentencing & Advisory Companies Magazine ofrecently pub- with costs £136,000 premises directly under- Panel (SAP) has recently lished detailsagainstrecord was awarded of a a neath a fire on the floor indicated that for Health & fine of in November with business £400,000 above. The Chairman of Safety breaches causing costs for breach of 2 which 2009 of £136,000 the London Fire & Emer- death, the resulting fine will Phone: 01902 796 793 Fax: 01902 796 797 was awarded safety leg- breaches of fire against a gency Planning Service seldom be less than E-mail: markelcocks@kgjgroup.co.uk business One of the islation. in November said “Good business man- £100,000 and will likely be E-mail: RichW@kgjgroup.co.uk measured in £100,000s or 2009 forresulted from an charges 2 breaches of fire agement includes taking safety legislation following inadequate fire risk as- responsibility for fire more. a fire at its premises.found sessment which was One safety, knowing the law Newly published guide- of have acharges of flaws, to the number resulted and acting on it” lines reveal Corporate from an no record of the including inadequate fire Manslaughter fines will be risk assessment which was appropriate action to be Is your fire risk assess- ment up to date? All no less than £500,000 found during a a number of taken to have fire alarm. IRCM clients can and may run into millions. IRCM is the Specialist Marine flaws, including was insuffi- Another breach no record brokerage of the KGJ Group of of thestaff training action to cient appropriate which download a FRA proforma Protection against such Companies. be to the delayed evacua- led taken during a fire from the download area astronomic penalties is alarm. the Another breach tion of premises during of our Health & Safety available via IRCM’s Direc- Our claim to be “More than was insufficient staff train- a fire and also resulted in website at tors and Officers Insurance. just a broker” is based on our ing which led to evacu- 150 people being the de- www.kgjhealthandsafety. Call Mark or Richard now commitment not just to pro- layedthrough the main en- ated evacuation of the co.uk for further information. vide the very best possible premises during a fire and advice and cover options at the best possible premiums but to back this up with the best possible after sales ser- vice. .. Newsround .. Newsround .. Newsround.. This includes allocating you a Some insurers are already named consultant to look after recommending tracking your administration in addition devices be fitted to the to providing you with in-house higher powered Japanese claims support from our award-winning claims handling four-stroke motors that team. seem to be particularly targeted. Some 300 marine businesses and almost 1000 private boat New Tractor & Special owners currently benefit from Types Insurance Under- the support of our insurance written by Aviva, IRCM’s services. new Tractor & Special Types insurance policy We consistently deliver sub- bridges the gaps in cover stantial premium reduction to that could cost Marine our commercial clients, aver- Outboard Theft Epidemic most counties have been businesses thousands. aging annual savings of 29% With over 500 reported hit and Wales has almost Registered vehicles are over the last 18 months outboard thefts in the last 50 reported thefts. Whilst not insured on Marine across the whole marine sec- insurers continue to press tor. 12 months, the problem Trades policies nor are has reached epidemic manufacturers to intro- unregistered vehicles proportions. A third of the duce initiatives such as when travelling on or IRCM is authorised & regu- thefts involved outboards installing Datatag chips crossing public roads or lated by the Financial Services in excess of 50hp or on all new outboards, potentially in areas such Authority owners should be alert to £7,500 in value. More as harbour areas where than half of the thefts are any changes in their the public have access. centered in the Hamp- leisurecraft insurance IRCM’s new policy offers Bowline® shire, Dorset, Devon and Cornwall region, although terms when their renewal invitations are received. full Road Risks Cover from only £25 per vehicle.