Maritime General Agency of Westbrook, Conn., launched a new program for liveaboard boats and yachts.
MGA's Liveaboard Yacht Coverage Endorsement will be attached to the firm's New Hampshire Insurance Company Yacht Policy. The endorsement adds coverage for personal property, personal liability and additional medical payments, while retaining the coverage already afforded by the yacht policy.
"This product responds to the demand of our brokers for a solution to this difficult-to-place segment of the yacht market," said Chris Pesce, president of Maritime General Agency, in a statement.
Maritime General Agency is the program administrator for recreational marine risks written through New Hampshire Insurance Company. MGA insures marinas, boat dealers, yacht clubs, boats, yachts and charter vessels.