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Title: Insurance Problems for Canadians Post by: wnethercote on November 04, 2013, 04:09:16 PM Two years ago I announced that Andrew Robertson had managed to find a company to underwrite an iceboat policy for Canadian DN sailors. It offered $1M liability coverage plus $7K collision coverage for an annual premium of $250C. Andrew has just informed me that the underwriters are probably going to drop this line of insurance. They evidently sold only 15 policies over the period and claims exceeded premiums.
Andrew is working this issue and believes that he may be able to get an underwriter to provide a liability only policy; however, the underwriters would likely seek to sell about 50 policies, not 15. If you, like me, cannot get an explicit rider on your household policy that would cover iceboat racing, then we can only wish Andrew success. It might even be better to send Andrew an email indicating that you are a potential client. andrew.robertson@cgbgroup.com As an aside, a liability-only policy may be an easier sell with underwriters as I think claims to the previous underwriters were largely related to things like sailing into sinkholes, that we would normally 'self-insure.' The same cannot be said for liability. For those of you lucky enough to insure with Wawanesa, they will provide an iceboat rider, but they are kind of picky about providing full replacement value coverage on older houses (like the one that I own) ... If Andrew can't fix this, I guess I won't be going to any regattas this year. Warren DN 3786 Title: Re: Insurance Problems for Canadians Post by: wnethercote on November 12, 2013, 09:59:24 AM Good News!
The current insurer has decided to continue offering coverage, albeit without the collision element which was aparently their loss problem. Warren |