Insurance & Compliance Services

Insurance is often overlooked and misunderstood requirement of vessel ownership.  It represents a significant element of the annual operating cost of a vessel, and can influence where and when a yacht may travel.  The insurance underwriter must approve of the captain hired to operate the vessel, and typically requires that at least the captain live full time on board the vessel.  Compliance with ISM (International Safety Management) requirements for commercial (charter) vessels is also a requirement and an important element of vessel operation and management.  Rick Thomas Yachting Development is able to source the most appropriate and cost-effective policies for a vessel to ensure adequate coverage at reasonable prices.  We can audit the vessel for ISM compliance and work with the vessel to bring into compliance should deficiencies be discovered.