OMAC is a renowned leader in the yacht insurance market.
A dedicated team of industry professionals specializing in yacht insurance.
OMAC, through its extensive insurance and reinsurance knowledge and experience provides exclusive underwriting expertise backed by A-rated insurance panels.
OMAC provides cover for risk managers, insurance brokers and yacht agents throughout Europe, USA, the Middle East and Asia, with a current portfolio of over 600 yachts ranging in value from EUR 10million to EUR 600million.
Our services include cover for Hull & Machinery, Protection & Indemnity, Crew Welfare, Builders Risk, Professional Indemnity, Kidnap & Ransom and Loss of Charter Hire.
Hull & Machinery
- A-rated Insurance
- Comprehensive policy wording
- Efficient claims handling service
Our underwriting team has secured exclusive facilities both within Europe and the USA that provides the backing of A-rated insurance panels in order to provide security and peace of mind for Yacht Owners and Clients in protecting their assets. Working with a global team of producers, we can find coverage worldwide as required.
Our priority at OMAC is to provide comprehensive cover and protection for our Assureds. The wording of our policies is one of the most comprehensive in the market, thereby providing ultimate protection to each Owner for both his yacht and for the equipment on board.
Our wording is designed to meet the various everyday exposures encountered in yachting as well as providing a tailormade service to include additional perils and offer optional deductibles as may be required depending on the individual requirements.
We understand that our handling of claims is one of the most important features in maintaining a solid relationship with our clients, and therefore our focus on efficient risk management and effective claims handling has become our trademark.
Protection & Indemnity
- International Group of P&I clubs
- Worldwide cover
- Global expertise
P&I coverage provides liability coverage and legal assistance to the Assured for property damage to third parties, personal injury claims, collision, pollution and wreck removal.
OMAC offers cover options from P&I clubs specialized in yachting with global resources to provide protection worldwide.
Crew Insurance
- Complete coverage including exclusive Healthcare package
- MLC compliant product
- Efficient and fast claims response
OMAC offers a bespoke Crew welfare package for Yacht crew, providing optimal coverage for crew worldwide in the event of accident or illness.
The policy provides generous limits for medical expenses and emergency assistance 24/7 worldwide.
Emergency response team providing expert assistance to accompany you every step of the way
Efficient Claims response for non-emergency, 3 day response and expert advice
Coverage offered under the policy can encompass all aspects of life for yacht crew.
Our Crew welfare policy is among the most competitive product available for yacht crew around the world.
Our standard MLC compliant Crew Welfare insurance covers:
- Medical expenses due to illness and accident
- Accidental Death or loss of life due to natural causes
- Temporary total disablement (loss of salary due to accident or illness)
- Permanent total disablement
- Repatriation
Our Crew Superyacht policy does not only provide industry standard coverage but includes additional customized cover such as:
- Routine / essential healthcare package for dentistry, optical and alternative treatments, specialist care and vaccines
- Diving coverage
- Winter sports
- Personal liability included for up to EUR 1 000 000 per person
- Ship to Shore emergency cover up to the first €10,000
- 24/7 emergency response team
- Full COVID 19 cover with no limitations
Loss of Charter Hire insurance covers loss of income following a physical damage to the Yacht.
This coverage offers an indemnity to the Owner to compensate for loss of charter revenue due to non-availability of the vessel.
This product can be tailor made to suit the individual Yacht owners needs and comes generally as an extension to the Hull & Machinery coverage.
Builder’s Risk Insurance
- A comprehensive coverage for Yacht builders around the world.
Yards face multiple challenges to protect their assests and their liabilities.We provide a comprehensive approach for their needs from general liability to physical damage (including pollution) to the equipment / the premises and the yachts under construction.
We extend our coverage to marine cargo when required.
