Norman-Spencer adds megayacht insurance program

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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.

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