Beverly Parsons has been chartering since 1969. She is a licensed, bonded broker and a founding member of the professional groups AYCA and CYBA International. Contact Beverly.
Trina Howes has 10 years of experience in the charter industry finding great pleasure in creating the best yachting vacations possible. E-mail Trina
Ed Hamilton has worked in every part of the charter industry over the last 37 years and heads one of the largest, most respected charter brokerages.
Sharon Bahmer is an expert at booking charters in the Americas, from Alaska to Brazil. She's also a member of FYBA and CYBA. E-mail Sharon
Shannon Webster is a longtime AYCA member. She books yachts worldwide from 80 to 400 feet long. Email Shannon
Nicole Caulfield is licensed, bonded, and a longtime member of FYBA and AYCA. She brings a unique perspective as a broker, having worked aboard yachts for nearly 10 years. Email Nicole
Michael Sawyer of Infinity Yacht Charters has unique access to charter yachts and crew from Alaska to Mexico. Contact Michael.
Liz Howard joined Fraser Yachts as a charter broker in 2002 after more than 15 years in the maritime industry. E-mail Liz.
| Charter Liability: Are You Covered? |
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| Written by Kim Kavin |
| Monday, 29 June 2009 00:00 |
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A simple math test: You cause $200,000 worth of damage to your chartered yacht. The yacht owner’s insurance policy deductible is $25,000. What is your total financial exposure? This is one among many questions that Gary Carroll of Comprehensive Yacht Assurance put to a room full of about 60 charter brokers at last week's meeting of the American Yacht Charter Association in Newport, Rhode Island. The AYCA boasts what are arguably the strictest professional association codes in the industry, with brokers being required to have at least seven years' experience before becoming members. The average AYCA member has 22 years of experience as a charter broker. Even still, when Carroll asked his $200,000 financial exposure question, several brokers offered different responses. Some said that you, the charter client, would be responsible for $25,000. Some said zero. Some said the entire $200,000. Apparently, the way many standard yacht charter contracts are worded has created confusion in this area. That's why the AYCA asked Carroll to further educate its members, and why the group invited me to sit in on his presentation--to help educate charter clients like you. The answer to the question, by the way, is that you would be on the hook for the entire $200,000. That's not something you want to find out after you've gotten on the yacht, as opposed to when you're filling out the pre-vacation paperwork. To understand why you would be liable, and to learn how to protect yourself financially when booking your next charter, check out this new, exclusive charter liability report in the Helpful Articles section of CharterWave. Comments (0)
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