Insurance - Pantaenius USA - Non Renewal

[Me-and-Boo]

I have liability only on my three boats by Progressive. Stamas 26 sport fisher, 1984 Catalina 30 trbs and 1983 Ocean Yachts 46 Sunliner. They may be old, but they are my fleet.

[windcastle1]

We have a Lagoon 52 with named storm coverage which includes The Bahamas and the boat is berthed all year in Ft Lauderdale . The carrier is Novamar and our broker is
License #OB87256
151 Shipyard Way, Suite 1
Newport Beach, Ca 92663
949-723-1170 Phone
800-723-1170 Toll Free
949-209-5882 Fax
Less than $11K

[Nicholson58]

Our boat is 1984Camper and Nicholson 58. We were priced out of Pantaneus after the first year in the Caribbean and the carrier had unreasonable storage demands for hurricane storage in Trinidad including welded iron cradle or dug in, all with tie down straps and paid inspections etc. we switched to Lloyd’s at a substantial savings. Then, hurricanes two years ago and Lloyd’s dropped everyone in the Caribbean. We are now with Geico as are most cruisers in the Caribbean.

[TabbyCat]

Originally Posted by billknny

Catopis,

May I ask who your broker is?

This seems an odd explaination, because Pantaenius USA is not actually an insurance company, i.e., they do not underwrite anything themselves, buy really are a second level broker.

Wow, some serious mis-informatioin here! Pantaenius is indeed an insurance company, with offices in the USA, Germany, United Kingdom, Monaco , Denmark, Austria , Spain, & Sweden .They write policies directly, and also through Agents such as IMIS. But yes, they have recently sent out non-renewal notices to a bunch of clients recently. The explanation we were given was that they have paid out an unacceptably large number claims over the last year are taking steps to reduce their exposure, such as non-renewing vessels navigating below 30.5 degrees North Longitude. At this point, they are only a market for boats in New England, the US Pacific coast, and the Med.

[LTCruiser]

This is ridiculous. Pantaenius is an international company.
We are in Auz & want Third Party Insurance only. We have had TPI with them for the last 4 years. This is the reason they gave for canceling our policy. We are Canadian flagged.

"We confirm that this insurance is cancelled by 06 January 2019 due to:
We are unable to offer renewal terms due to the vessels flag and registration."

[stillbuilding]

I had rather thought Pantaenius had only offered insurance directly to very expensive vessels in North America in large part due to the litigious nature of the culture but may be apocryphal.

I do know that they did insure some of this market in the past. Perhaps, like other businesses, they were just concentrating their attentions. I could well imagine the past couple of years must have scared the crap out of insurers in the US.

[olaf hart]

So, anyone found an insurer who just offers liability insurance in Oz?

[Paul L]

Originally Posted by olaf hart

So, anyone found an insurer who just offers liability insurance in Oz?

Nautilus carries our liability policy.

[LTCruiser]

Yes, we have gone ahead with New Wave Marine in Brisbane & NSW

[stillbuilding]

I have found Pantaenius in Sydney to be excellent.

[LTCruiser]

No. Pantaenius is dumping us. Never made a claim, on any company.
They will not TPI a foreign vessel in Auz.
Bet they wouldn't knock back a multi million $ vessel though.

[LTCruiser]

New Wave Marine. Does not require a survey for TPI.

[sandymwp]

Our 50 ft FP Saba was insured with Pantaenius for several years before the hurricane....No Claims. On the hard in Nanny Cay....hurricane Irma/Maria took out mast and some other minimal damage...108k.....deductible 100k....we paid more in premiums than what they paid us...$8k.....cancelled us. What a racket!!!!!!

[Ostinato]

Originally Posted by sandymwp

Our 50 ft FP Saba was insured with Pantaenius for several years before the hurricane....No Claims. On the hard in Nanny Cay....hurricane Irma/Maria took out mast and some other minimal damage...108k.....deductible 100k....we paid more in premiums than what they paid us...$8k.....cancelled us. What a racket!!!!!!

Pantaenius USA?

[RSH]

Add us to the list of people just dropped by Pantaenius-got the notice in the mail yesterday. Our boat is a Lagoon 380 in Charleston (we stay out of the hurricane box during the season).

Aggravating. Exploring other options now, and have a call into our insurance broker.