34 | The Polo Magazine | MidSummer 2015
If you would like us to simplify your risk, please call us on 020 7933 0132,
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PoloMagazinMidSummer2015_Lockton_LR

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  • 1. 34 | The Polo Magazine | MidSummer 2015 If you would like us to simplify your risk, please call us on 020 7933 0132, email melanie.corbett@uk.lockton.com or visit www.locktonprivateclients.com When your life is busy and challenging enough, Lockton Private Clients ensures your world is covered with an outstanding level of personal service that helps you to manage the complexity of risk, simply. Lockton Private Clients is a dedicated team within the Lockton Group of companies; the world’s largest, privately owned insurance broker with global revenues in excess of $1 billion. With a regional presence, our clients benefit from our network of contacts in all major international destinations. We don’t think in terms of traditional insurance products but take a more intelligent approach, understanding individual preferences and requirements and finding smarter, bespoke ways to manage insurance exposures. We provide a complete, end-to-end service that is highly personal, flexible and strategic in approach, delivering value by looking beyond the obvious. You get better value, service and cover when you manage your personal insurance portfolio in one place. Let’s get personal. If you would like us to simplify your risk, please call us on 020 7933 0132, email melanie.corbett@uk.lockton.com or visit www.locktonprivateclients.com When your life is busy and challenging enough, Lockton Private Clients ensures your world is covered with an outstanding level of personal service that helps you to manage the complexity of risk, simply. Lockton Private Clients is a dedicated team within the Lockton Group of companies; the world’s largest, privately owned insurance broker with global revenues in excess of $1 billion. With a regional presence, our clients benefit from our network of contacts in all major international destinations. We don’t think in terms of traditional insurance products but take a more intelligent approach, understanding individual preferences and requirements and finding smarter, bespoke ways to manage insurance exposures. We provide a complete, end-to-end service that is highly personal, flexible and strategic in approach, delivering value by looking beyond the obvious. You get better value, service and cover when you manage your personal insurance portfolio in one place. Let’s get personal. You get better value, service and cover when you manage your personal insurance portfolio in one place. Let’s get personal. If you would like us to simplify your risk, please call us on 020 7933 0132, email melanie.corbett@uk.lockton.com or visit www.locktonprivateclients.com When your life is busy and challenging enough, Lockton Private Clients ensures your world is covered with an outstanding level of personal service that helps you to manage the complexity of risk, simply. Lockton Private Clients is a dedicated team within the Lockton Group of companies; the world’s largest, privately owned insurance broker with global revenues in excess of $1 billion. With a regional presence, our clients benefit from our network of contacts in all major international destinations. We don’t think in terms of traditional insurance products but take a more intelligent approach, understanding individual preferences and requirements and finding smarter, bespoke ways to manage insurance exposures. We provide a complete, end-to-end service that is highly personal, flexible and strategic in approach, delivering value by looking beyond the obvious. Nautical knot boards, or nautical knot shadow boxes remind us of the coast, a symbol of time spent relaxing on sunny days. They conjure up pictures of brilliant corals and shimmering fish, the smell of suntan lotion and an instant mind-sketch of the colours of the setting sun over the sea. Tiny representations of something undeniably secure, demonstrations from an expert hand, a professional keeping you safe. Buying a boat is an emotional purchase, an impossible to balance equation; always a passion, always the realisation of a dream. Whether it’s to escape, to travel, to spend time with the family and friends, or just because you always promised yourself you would. For the Superyacht owner, once you have decided on your breath-taking acquisition and you have employed a Professional Captain and Crew, the next step must be to protect this reverie. At Lockton we arrange bespoke insurance programmes for Yacht and Superyacht owners; ensuring that when things go wrong or when life doesn’t exactly work out as planned, the Owner and the Captain can be confident in the knowledge that there’s a safety net of experts in place to arrange and pay for the repairs. Lockton’s insurance programmes will return you to seascape vistas at a swift rate of knots. When asked of the best way to buy Insurance for a client vessel, we admit that it’s a difficult puzzle; with so many pieces, yet we are continually surprised by those who purchase insurance based on price alone. Add into the mix that Marine Insurance is a quirky specialism, it’s not standardised like home or motor insurance, with those contracts you pretty much know what you are getting. But your home doesn’t move around the globe bumping into things, and it’s unlikely you will have this size of full time staff at one time at home, or that they will be exposed to the same level of personal injury, or illness. If we were to suggest a list of Do’s and Do Knots, these thoughts would most definitely make it into the top ten: • Don’t just focus on the price • Ask questions about the coverage, is it standard or bespoke, will it change with your requirements? • Ask questions about the Insurers, who are they, what is their history, do they have specialised claims capabilities? • Check out the financial security rating of the Insurers • Insurers too, will want to ask a number of questions regarding yourself, your yacht and intended operations. It is important that all material facts are declared, usually via the completion of a proposal form. It’s important to note that Insurance contracts are based on ‘utmost good faith’, and that you must check that the information you provide is correct, right down to checking the qualifications of the staff you employ. Typically the pieces of the insurance puzzle will result in you being offered three policies, which fit together to ensure full coverage of: 1. The Hull, its tenders and toys, contents, electronics, and engines 2. All Liabilities incurred in the owning and operation of the vessel 3. Crew Personal Accident Travel and Medical Expenses insurance However, a wealth of coverages and add-ons are available from Berth Liability to Loss of Charter Hire and you need expert advice and guidance through the myriad of options before you start to look at the pricing options you are offered. The Nautical knot boards were originally advertisements for a deckhand’s tying skills, or used as instructional material for new sailors. After all, the protection and safety of the ship and the crew depended upon a lot of solid knots. Sailors had to be experts in Rope Tying. The Insurance protection of your yacht or Superyacht depends on a lot of solid advice from experts in bespoke Insurance programmes. Choose your Broker with care, you too need an expert hand, a professional keeping you safe from financial loss when the unlikely, but unthinkable, happens. But by utilising a broking company who place “Service” at the centre of everything they do, you will have at your disposal a number of different specialist experts whose sole priority is the benefit of you and your family. At Lockton Private Clients we build deep personal relationships with you and your family members, over many years. We understand that you have structures which define the separation of wealth and plans for succession. We understand the dynamics of the relationships and politics within the family. We ensure that we have Industry experts in each area of the client’s passions, to provide real solutions to the problems our clients are facing, but in a seamless, stress free way... ...allowing you to decide the number of knots in your next adventure. Please contact our Yacht Practice Melanie Corbett, Vice President Private Client Division Head of Lockton Yacht Practice Lockton Companies LLP (“Lockton”), a limited liability partnership registered in England & Wales with company number OC353198. Registered office: The St Botolph Building, 138 Houndsditch, London, EC3A 7AG T: +44 (0)20 7933 0132 M:+44 (0)7506 976 169 E: melanie.corbett@uk.lockton.com www.lockton.com/yachtinsurance www.locktonprivateclients.com Lockton Companies LLP is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 523069. BESPOKE INSURANCE PROGRAMMES FOR YACHT AND SUPERYACHT OWNERS NAUTICAL KNOT BOARDS Photography of Riva 76 Coupé courtesy of Riva

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