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Yacht Brokers Professional Indemnity

protecting your reputation..... protecting your business

In conjunction with St Paul Travelers Insurance Company Ltd, a major global insurer, we are delighted to announce a new Professional Indemnity insurance policy designed especially for yacht brokers and available exclusively through Coleman Marine.

Why do I need Professional Indemnity cover?

Claims can arise from many areas of a yacht broker’s remit including:-

• misrepresentation in the listing of a vessel’s particulars
• breach of the agency agreement
• agreeing a sale below the correct market value
• transferring purchase monies before full title documentation is in order
• negligently advising on taxation and legal aspects of the sale and loss of client money

Allegations of negligence are distressing, disruptive and can threaten your business and reputation.

What will the policy cover me for?

The policy is designed to protect you against allegations of negligence and provides indemnity in the event of a civil liability arising out of the conduct of your business as a yacht broker.

Cover is available up to a limit of £2 million any one period of insurance subject to underwriting considerations and a range of excesses is available to help you control premium expenditure.

The policy also covers:-

• defence costs
• liability from dishonest acts of your employees
• infringement of intellectual property rights
• libel and slander
• compensation for court attendance

Why choose Coleman?

• Coleman Marine is recognised as one of the leading specialist marine insurance brokers in the country, providing first class insurance products to clients all over the world.
• The quality of service is vital when it comes to protecting you in the event of a professional indemnity claim. We strive to provide our clients with excellent service at every stage of the insurance process.
• The partnership we have formed with St Paul Travelers Insurance Company Ltd will provide access to a claims team staffed by qualified solicitors, legal executives and insurance professionals who understand professional indemnity claims.
• In the event of a claim you can be sure of a prompt, sympathetic and supportive response.