Insurance dilemma

[Tom1340]

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

[Pelagic]

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

[s/v 'Faith']

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.

[GordMay]

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.

[s/v 'Faith']

Originally Posted by GordMay

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!

[goboatingnow]

Originally Posted by s/v 'Faith'

Wow! I would get rid of them in a hurry!

All that really matters is who the underwriters are

Dave

[GordMay]

Originally Posted by goboatingnow

All that really matters is who the underwriters are
Dave

Concept are the underwriters.

[boatman61]

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

[goboatingnow]

Originally Posted by GordMay

Concept are the underwriters.

Abandon ship alarm , alarm

Dave

[boatman61]

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

[Hud3]

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.

[Tim R.]

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.

[Pete7]

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

[msponer]

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.

[goboatingnow]

Originally Posted by GordMay

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