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02/21/2017

Are You Covered?

By Steve Prime, Vice President, Gowrie Group

Steve PrimeLearn and discuss the insurance you need for having brokers manage demonstrations, sea trials and surveys on a client’s boat. This webinar will be a discussion between Chris McNally, a maritime attorney with the law firm of Sayer, Regan & Thayer, and Steve Prime, Vice President of the Gowrie Group insurance agency. It is important for yacht dealers and yacht brokers to know who is covered and who is not. Things to examine include the contract language of the brokerage listing, dockage agreement and most importantly the employment status of the broker handling the boat. Are they an employee of the house organization or an independent contractor? 

 

Things to examine:

Does the yacht policy include yacht brokers as assureds?

Does the yacht policy exclude yacht brokers as assureds?

Is the yacht broker an employee of the firm?

Is the yacht broker an independent contractor with their own legal entity?

Does the yacht dealer’s yacht dealer marina operator’s legal liability policy provide coverage for the independent contractor broker?

Does the yacht broker’s legal liability policy provide coverage for the yacht broker?

Does the independent yacht broker have their own property and general liability insurance?

What is the yacht broker’s role in the sea trial, are they attending or operating the vessel?

Is the broker qualified to operate the vessel?

 

Tune in for more information at this YBAA e-Seminar on March 1, 2017 at 12:00 PM, EST.

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