Norman-Spencer adds megayacht insurance program

Author:
Updated:
Original:

The Norman-Spencer Agency announced the immediate launch of its marine insurance services division’s TradeWinds Yacht Insurance Program.

“For years, Norman-Spencer has provided the recreational marine insurance marketplace with broad programs for pleasure boaters and businesses alike,” Norman-Spencer marine insurance services division vice president Paul Sexton said in a statement. “The addition of our new TradeWinds yacht program continues to solidify that success and drive Norman-Spencer’s growth in boat and yacht program management.”

TradeWinds will provide pricing and underwriting guidelines for yachts of as much as $2 million.

“The new program for large yachts will greatly expand our 35-year-running AquaPac program that serves small to midsized vessels,” Sexton said.

Both programs provide coverage that accommodates a spectrum of boats from personal watercraft to sail and power yachts.

Norman-Spencer is the endorsed consumer insurance product of the Marine Retailers Association of the Americas.

Related

Dealers: What Will the Biggest Challenge Be in 2021?

Workforce, inventory, consumer demand, absence of boat shows — this month’s Pulse Report asks dealers to look ahead.

First-Time Boat Buyers Leap in 2020

Almost all of the surge in demand can be attributed to first-time buyers.

Brunswick Corp. Reports 26% Increase in Net Sales

The propulsion segment saw nearly a 62 percent boost in operating earnings.

FLIBS Kicks Off

Under a much smaller footprint and comprehensive safety precautions, dealers are predicting a steady flow of serious buyers.

Albemarle Boats and Spencer Announce Partnership

The Carolina builders to team on an all-new 53-footer.

Ladies, Let's Go Fishing Chalks Up Another Successful Event

More than 40 aspiring anglers came to the weekend program.