Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 13-01-2014, 19:18   #1
Registered User

Join Date: Feb 2010
Boat: Wauquiez Hood 38
Posts: 130
Insurance dilemma

The renewal notice I just received from my insurance agent shows the underwriter as Concept Special Risks, a company I'm not familiar with. I searched the web and found that Concept has the same UK address as my original insurer, Osprey Special Risks. Apparently only a recent name change.
In the process of my web search, I found two very visible, scathing commentaries on Osprey, one of which was from this forum. Now I'm wondering if Osprey changed their name to try to dodge these bad reviews.
I'm also wondering about a clause in the original application "...failure to maintain vessel in seaworth condition may result in voiding the policy regardless of any cause or link to any loss giving rise to a claim." The clause seemed reasonable initially, but in light of reported claims difficulties, it now seems a very subjective basis for an unscrupulous company to deny a claim.
I fear I am paying for the illusion of protection, and am considering alternatives. One option is Boat US, which has excellent reputation for service, but is very pricey.
Some questions:
1) Does anyone have any first hand claim experience with Osprey or Concept?
2) Can anyone suggest an alternative insurer that will cover older boats (1984 )
Thanks, Tom
__________________

__________________
Tom1340 is offline   Reply With Quote
Old 13-01-2014, 19:46   #2
CF Adviser
 
Pelagic's Avatar

Cruisers Forum Supporter

Join Date: Oct 2007
Boat: Van Helleman Schooner 65ft StarGazer
Posts: 6,883
Re: Insurance dilemma

That is the Catch 22 with most insurance companies….. they can wiggle a lot depending on the economic circumstances of your relationship.

On older boats, there is a lot to be said for having only a liability coverage and self insure your own ‘seaworthiness”, by spending the premium savings on maintenance
__________________

__________________
Pelagic is online now   Reply With Quote
Old 13-01-2014, 20:31   #3
Senior Cruiser

Cruisers Forum Supporter

Join Date: Oct 2005
Location: Cruising NC, FL, Bahamas, TCI & VIs
Boat: 1964 Pearson Ariel 'Faith' / Pearson 424, sv Emerald Tide
Posts: 1,531
Re: Insurance dilemma

What a lousy situation. I hope you figure out a good solution, I sympathize.

When I make deliveries, I ask to see the insurance policy. It is crazy some of the stuff that I see... I hate to say it but I don't trust most of them. I carry liability only, but know not everyone has this option (if your boat is financed of course).

What is the price difference between Boat US or another reputable insurer and what you are paying now?

Again, I am sorry you are in this situation. I hope you find a good solution.
__________________
s/v 'Faith' is offline   Reply With Quote
Old 14-01-2014, 07:50   #4
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,577
Images: 240
Re: Insurance dilemma

The company that later became Concept was incorporated in 1969 as A.K. RUMBOLD (HARROGATE) and kept that name until 1989, when it changed its name to T.L. DALLAS (MARINE) LIMITED, which in 1997 changed its name to T L DALLAS (SPECIAL RISKS) LIMITED, which in 2008 changed its name to Osprey Special Risks Ltd, then in 2013 changed again to Concept Special Risks.
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 14-01-2014, 08:43   #5
Senior Cruiser

Cruisers Forum Supporter

Join Date: Oct 2005
Location: Cruising NC, FL, Bahamas, TCI & VIs
Boat: 1964 Pearson Ariel 'Faith' / Pearson 424, sv Emerald Tide
Posts: 1,531
Re: Insurance dilemma

Quote:
Originally Posted by GordMay View Post
The company that later became Concept was incorporated in 1969 as A.K. RUMBOLD (HARROGATE) and kept that name until 1989, when it changed its name to T.L. DALLAS (MARINE) LIMITED, which in 1997 changed its name to T L DALLAS (SPECIAL RISKS) LIMITED, which in 2008 changed its name to Osprey Special Risks Ltd, then in 2013 changed again to Concept Special Risks.
Wow! I would get rid of them in a hurry!
__________________
s/v 'Faith' is offline   Reply With Quote
Old 14-01-2014, 08:49   #6
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Quote:
Originally Posted by s/v 'Faith' View Post

Wow! I would get rid of them in a hurry!
All that really matters is who the underwriters are

Dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 14-01-2014, 09:15   #7
Moderator Emeritus
 
GordMay's Avatar

Join Date: Mar 2003
Location: Thunder Bay, Ontario - 48-29N x 89-20W
Boat: (Cruiser Living On Dirt)
Posts: 31,577
Images: 240
Re: Insurance dilemma

Quote:
Originally Posted by goboatingnow View Post
All that really matters is who the underwriters are
Dave
Concept are the underwriters.
__________________
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"



GordMay is offline   Reply With Quote
Old 14-01-2014, 09:21   #8
Freelance Delivery Skipper..
 
boatman61's Avatar

Community Sponsor
Cruisers Forum Supporter

Join Date: Jan 2010
Location: UK/Portugal
Posts: 20,198
Images: 2
Send a message via Skype™ to boatman61
pirate Re: Insurance dilemma

Go Panteanius....
Three options... Full, Hull only and Liability..
__________________


Born To Be Wild
boatman61 is online now   Reply With Quote
Old 14-01-2014, 09:28   #9
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Quote:
Originally Posted by GordMay View Post
Concept are the underwriters.
Abandon ship alarm , alarm

Dave
__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Old 14-01-2014, 09:35   #10
Freelance Delivery Skipper..
 
boatman61's Avatar

Community Sponsor
Cruisers Forum Supporter

Join Date: Jan 2010
Location: UK/Portugal
Posts: 20,198
Images: 2
Send a message via Skype™ to boatman61
pirate Re: Insurance dilemma

The original seems to be going strong..
Welcome to T L Dallas Group
__________________


Born To Be Wild
boatman61 is online now   Reply With Quote
Old 14-01-2014, 09:49   #11
CF Adviser
Moderator Emeritus
 
Hud3's Avatar

Cruisers Forum Supporter

Join Date: Sep 2007
Location: Virginia
Boat: Island Packet 380, now sold
Posts: 8,929
Images: 49
Re: Insurance dilemma

I had insurance underwritten by T L Dallas. I filed one claim and it was paid, after a bit of back and forth about interpretation of the precise wording in the policy. Not a hassle, really, just an honest difference of opinion. They concluded that in the case of such a disagreement the decision goes to the client. Decent folks, I thought.
__________________
Hud
Hud3 is offline   Reply With Quote
Old 14-01-2014, 10:03   #12
Registered User
 
Tim R.'s Avatar

Join Date: Jul 2012
Location: Portland, Maine
Boat: Caliber 40LRC
Posts: 604
Re: Insurance dilemma

Liability only is great until you get hit by the uninsured boater or you have a leak or a fire, or a lightening strike. As long as you understand the risks but not an option if you financed the boat.

Another vote for Pantaenius.
__________________
Tim R.
Our Carina is sold
1997 Caliber 40LRC
TKR on a Boat Website
Tim R. is offline   Reply With Quote
Old 14-01-2014, 10:18   #13
Moderator
 
Pete7's Avatar

Cruisers Forum Supporter

Join Date: Aug 2009
Location: Solent, England
Boat: Moody 31
Posts: 8,536
Images: 14
Re: Insurance dilemma

This is a picture of their offices obtained from Google Street view via their postcode. I would have expected UK underwriters to be a major company.

I would talk to Pantaenius as suggested by Boatman61. I also insure with Pantaenius.

Pete
Attached Thumbnails
Click image for larger version

Name:	CF.jpg
Views:	277
Size:	88.3 KB
ID:	73939  
__________________
Moody 31 - April Lass
Pete7 is offline   Reply With Quote
Old 14-01-2014, 14:53   #14
Registered User

Join Date: Oct 2010
Location: Oregon
Boat: 57' Laurent Giles Yawl
Posts: 755
Re: Insurance dilemma

I also got a quote from them and found their language to be more weasely than other firms: they use '... policy is void since inception if ...' in quite a few places.

So I am still with a local (Caribbean) insurance company that, according to the surveyor and yard I asked, paid quickly and fairly after a hurricane.

I've also heard wonderful things about Pantaneus, from folks who lost their boat on a reef.
__________________
our blog
msponer is offline   Reply With Quote
Old 14-01-2014, 15:29   #15
Nearly an old salt
 
goboatingnow's Avatar

Cruisers Forum Supporter

Join Date: Jun 2009
Posts: 13,649
Images: 3
Re: Insurance dilemma

Quote:
Originally Posted by GordMay View Post
Concept are the underwriters.

actually they are not , they are only a broker

"This company is incorporated and operates under the laws of the United Kingdom. We are based in Guiseley, West Yorkshire, within the United Kingdom and act as Underwriting Agents for the Insurers listed elsewhere on this website"

hence I wouldn't worry , check who is really underwriting your policy. thats all that really matters

dave
__________________

__________________
Check out my new blog on smart boat technology, networking and gadgets for the connected sailor! - http://smartboats.tumblr.com
goboatingnow is offline   Reply With Quote
Reply

Tags
insurance

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off




Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 18:50.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.