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Old 18-03-2017, 00:19   #1
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Yacht insurance for Asia, east of Singapore

After reading many old threads on boat insurance, I see few have mentioned my particular part of the world...

I'm looking for yacht insurance with coverage in South-East Asia, specifically, Malaysia and the Philippines.

Most European and US insurers do not deal with Asia at all - or if they do, will not extend cover to east of Singapore.

I have had an offer from Pantaenius that would cover the whole world... but it was most expensive.

The area in question is a bit out of the way, and has its peculiar risks. I have been told many insurers will decline simply because the place is unfamiliar.

What insurers or brokers would you recommend for this part of the world?

I guess there must be some good insurance companies in Singapore or Hong Kong... and have heard good things about using brokers in New Zealand.

Hopefully someone can suggest actual persons or companies. Feel free to PM me if preferred.

The boat in question is a modern 48' motoryacht.

Thanks :-)

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Old 30-03-2017, 19:34   #2
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Re: Yacht insurance for Asia, east of Singapore

I thought I would answer my own question, for the benefit of others who might seek the same information:
Pantaenius are happy to cover the whole world, but at a premium price.
I found it helpful to talk to a few insurance brokers, notably Mr Rowan Adolph at Baileys Insurance Brokers, Auckland, who offered a good solution.
Finally, Topsail are able to offer insurance for the area, with certain restrictions. In the end I decided to insure with them.
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Old 30-03-2017, 20:36   #3
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Re: Yacht insurance for Asia, east of Singapore

An area of huge interest to us, please if possible could you post an outline of the sort of "restrictions" required by them?
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Old 05-04-2017, 08:32   #4
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Re: Yacht insurance for Asia, east of Singapore

Quote:
Originally Posted by 2020 View Post
An area of huge interest to us, please if possible could you post an outline of the sort of "restrictions" required by them?
Topsail made a deal for the following area:
"Territorial Waters of West Coast of Thailand, Singapore, Malaysia, Indonesia, Brunei and Sabah not East of Kudat, Borneo not North of Tarakan, including the Philippines not South of 10 degrees North but including Palawan".

The excluded parts are a bit dodgy anyway, so you would probably not wish to go there.
Interestingly, I am living in the Philippines very close to 10 degrees north... So with this insurance cover, I can sail north of my place but not south of it :-)
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Old 06-04-2017, 20:04   #5
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Re: Yacht insurance for Asia, east of Singapore

hey Sven thanks for that, so basically no sailing around the sulu or celebes seas then. Don't know if you've been there, some of the most impressive tropical sailing anywhere. maybe it's a bonus insurance is hard to find was the halmahera area covered?
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Old 08-06-2017, 06:26   #6
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Re: Yacht insurance for Asia, east of Singapore

Halmahera is in Indonesia, so would be covered under my insurance. It seems not hard to get cover for Indonesia beyond Borneo.
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