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Marsh YachtCover

A faster, more reliable way to obtain yacht insurance in Asia with competitive terms and pricing

Comprehensive and flexible coverage options at highly competitive pricing

Fast processing time, presented in days

Brokers and claims specialists with over 75 years of experience

Across Asia, yacht owners know the importance of insuring their vessels, which enables access to marinas, indemnifies against third-party liability and damage, and offers protection against a wide range of natural and man-made risks that can potentially incur high costs.

However, yacht insurance policies vary widely and obtaining the right level of cover can be difficult. How do yacht owners select from the range of yacht insurance options available and secure the correct level of coverage to protect their prized assets?

Introducing Marsh YachtCover

Marsh YachtCover helps yacht owners identify and obtain the optimal level of yacht insurance cover at highly competitive pricing and market-leading terms via an online quotation web portal. We provide end-to-end protection and support for yachts — including claims assistance and management following an accident — and coverage that is tailored to your profile and needs. Marsh YachtCover’ s service goes above and beyond the typical insurer at no additional expense while helping you save, on average, 10% on your premiums.

Marsh YachtCover is specially curated for pleasure yachts registered in Asia and/or sailing within Asia valued between US$500,000 and US$18million. Coverage for higher-valued yachts and/or a wider geographical coverage are also available—please contact our  yacht specialists .

Marsh YachtCover Features 

Coverage features include (but are not limited to) the following:

• Replacement Cost Loss Settlement : Pays for repairs or replacement of covered property without deduction for depreciation for most partial losses. 
• Medical Payments: Covers reasonable medical and related expenses on a per person basis for all on-board, boarding or leaving the insured yacht.
• Emergency Assistance : Pays for the costs incurred when emergency assistance is required, even if you and your yacht are not in immediate danger. 
• Uninsured Boater Coverage: Pays for bodily injury to persons aboard the yacht who are injured by an uninsured owner or operator of another yacht.
• Bottom Inspection : Pays for reasonable costs incurred to inspect the bottom of the yacht after grounding, stranding or striking a submerged object, even if no damage is found, without application of any deductible.

Benefits of Marsh YachtCover  

• A fast and easy online submission process.
• Broad and flexible yacht insurance coverage options presented in days.
• Highly competitive pricing.
• Peace of mind from A-rated international insurers.
• Reliable service from a team of experienced brokers and claims specialists.

The above information is intended as a general summary and is indicative of the key features of an insurance plan. Full policy wording should be referred to for full details of benefits, exclusions, and requirements.  A copy of the policy wording will be provided with our quotation.

Am I required by law to purchase yacht insurance?

Different territories have varying rules and regulations with regards to boat insurances. Please check with your local authorities on the insurance requirements. 

Singapore The Maritime Port Authority of Singapore requires all yacht owners to have an insurance policy before they can issue a pleasure craft license.

Hong Kong It is mandatory for all boat owners in Hong Kong to purchase boat insurance which covers the liability for death or bodily injury to third parties.

Malaysia Like land transport vehicles such as cars and trucks, all water transport vessels registered in Malaysia needs to have insurance issued in Malaysia.

Taiwan According to The Law of Ships in Ministry of Transportation and Communications, all yacht owners are required to purchase insurance covering the liability for death or bodily injury to the passenger. 

Thailand According to Thailand commercial boating laws, any boat that carries passengers, must have compulsory passenger insurance.

Do I need to purchase separate policies to cover my yacht as well as any liabilities to third parties?

No, you do not. Marsh YachtCover offers the option of combining both policies, providing coverage for the loss of, or damage to, the yacht as well as liabilities to third parties. 

Under the Hull and Machinery (H&M) section, the physical damage section covers the loss or damage to the boat and its machinery — including the hull, engines, sails, personal property, and equipment necessary to operate the boat. 

The liability section, sometimes referred to as Protection & Indemnity (P&I), covers your legal obligations to other parties, such as bodily injury, loss of life, pollution, or damage to a third party property while the boat is operating or under your ownership.

If you do not require H&M insurance, Marsh YachtCover also offers the option of a standalone liability policy.

How is the premium calculated for yacht insurance?

Insurers generally consider various factors when determining the premium to charge for your yacht insurance. This includes but is not limited to the following:

i. General boat characteristics: value, length, age, material of hull, make type and number of engines.

ii. Skipper’s experience

iii. Mooring details

iv. Claims record

v. Deductible amount

vi. Navigational limit

vii. Limit of third party liability

viii. Additional safety equipment

ix. Recent survey reports

How do I file a claim?

In the event of a claim, policy holders need to report the incident immediately. You will need to download and submit the Marsh YachtCover claims form with any supporting documents to your broker. 

Read our article ‘ A hassle-free guide to filing a yacht insurance claim ’ to learn more about the claims process. 

How much should I insure my yacht for?

Insurers generally accept an owner’s estimate of the value of a yacht, which should reflect current market value.  It is accepted that the practical method for an owner to estimate value is by giving the purchase price, unless particular factors support a different view, such as if the boat is put up for sale or a professional valuation has been obtained.

You are not obliged to have your yacht valued prior to obtaining or renewing insurance, nor is it customary for insurers to make such a request. You should, however, ensure that you are clear about the meaning of ‘market value’ and other similar terms in proposal forms and policies, and be mindful of the importance of disclosing all material information.

Marsh YachtCover accepts yachts valued above US$500,000 and up to a maximum of US$18 million.

Read our article ’ Yacht Insurance - what every owner should know ’ to learn more. 

Is there a deductible?

A deductible is an amount the insurer will subtract from a loss before paying the claim amount up to the policy limit.

Marsh YachtCover typically uses an “Agreed Value” wording, meaning your insurer will pay the entire agreed amount of the yacht, with no deductible, in the event of total loss. 

In the event of a partial loss, cover is generally on a new for old replacement basis, except for materials that are subject to higher levels of normal wear and tear such as sails and covers of canvas or other like materials, in which case there may be an allowance for depreciation. 

Insurers are liable only for the reasonable cost of repairs. 

What limit of liability should I buy?

Some territories, for example Hong Kong, have a mandatory minimum limit for third-party cover — check your local regulations. Also check with your marina or those that you wish to call for guidance, as they too may have minimum insurance requirements. 

Marsh, the world’s largest insurance broker and risk advisor, is dedicated to helping clients globally and in Asia manage risk effectively. Leveraging strong historical relationships with global carriers and robust technology and data capabilities, Marsh’s long-standing expertise in designing, developing, and implementing innovative and efficient risk solutions across diverse industries and geographies delivers sustainable benefits for clients and empowers them to take advantage of opportunities that foster resilient business growth and expansion.

Chris Coupland

Senior Vice President, Marine Leader, Singapore

Essential information on yacht insurance

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Tommy Ho: The Rising Son of Yacht Insurance in Asia

• August 7, 2019

Yacht Style profiles TOMMY HO, Founder and CEO of Voyager Risk Solutions, who manages insurance for many of Hong Kong’s new luxury yachts and is starting to expand across Asia.

Tommy Ho Wai-lok is well known in Hong Kong’s yachting circles, but plenty still know him as the third son of Ho Sai-lo, who retired in June 2018 after 35 years managing the boat yard at Club Marina Cove.

Tommy Ho with Kara Yeung, Executive Director of HKCYIA, at the signing ceremony of the MOU for Hong Kong’s new Superyacht Management Services Centre

Tommy still frequently attends events at Marina Cove as the Sai Kung venue regularly hosts private events for many of the world’s leading luxury yacht brands, including Ferretti Group, Azimut, Sunseeker, Fairline, Monte Carlo Yachts and Prestige from April through June.

In June, Voyager co-hosted the Family Days weekend at the end of the nine-day Ferretti Group Itinerary Show and Tommy found himself fielding more questions about his father than himself.

“When I go to Marina Cove, lots of friends and familiar faces come up to me, but they all ask about my Dad, like how’s Sai-lo enjoying retirement, how’s his health,” laughs Tommy during an interview with his father and mother, Susie Lei, who’s still involved with the family’s yacht repair business at Royal Hong Kong Yacht Club.

“When I go to events, a lot of people know me because of my parents and in fact, we generated business at that event. It’s great I’m also in boating like my parents, because we can always talk about boats, whether one’s good or bad, its design, the quality, so on.”

However, what’s surprising is how often Tommy’s surprised when hearing stories from his parents, who both grew up working on the water, his father initially crewing on sailing boats and his mother a leader of one of the famous ‘side party’ groups of sampan women who cleaned the hulls of military ships.

AROUND THE WORLD

In the early 1960s, Ho senior responded to an advert from an American, Vad Jelton, who was recruiting two crew for a long cruise with his wife on a 55ft sailing yacht.

Susie Lei and Ho Sai-lo with Tommy Ho, their third son

Sai-lo recalls: “I saw the advert recruiting for crew, so I went for an interview. At that time, my salary was HK$160 per month…”

Tommy’s eyes widen in shock – “Wah, so little” – before his father continues.

“Then the American offered me HK$700 per month, so it was an easy decision. The boat stopped in a lot of places so it took a long time, almost two years. We eventually finished working in San Francisco.”

“He did it for the money,” smirks Susie, who married Sai-lo after he returned to Hong Kong in late 1965.

Sai-lo said the most alarming episode was when the owner’s wife started screaming as she thought the boat was going to sink.

“The wife was steering, but she was hungry, so she asked me to take over at the wheel while she went to get some food. When she got down to the galley, she found the whole place was flooded and started crying out. A hole in the pump was leaking and flooded the whole deck. We stopped the boat, found out where the leak was, then repaired it.”

Tommy Ho’s mother, Susie Lei (on left), with Prime Minister Edward Heath at the 1971 London Boat Show, with the photo appearing in the South China Morning Post

As Sai-lo continued to work as crew on boats on his return to Hong Kong, Susie continued her sampan-based work, which included managing her side party brigade, cleaning the sides of Royal Navy ships at HMS Tamar, chipping off rust and repainting them.

“They didn’t pay me,” she says. “They’d give us old rope, wires, anything we could either use or sell.”

Tommy knows about his mother’s participation in the 1971 London International Boat Show at Earl’s Court when ‘The boats and water-people of Hong Kong’ was a theme and she was one of two ladies, along with Annie Ho, selected to represent the then-colony.

“They wanted to promote Hong Kong and they sent two sampans to London for the show. I had been working with the Royal Navy ships for a long time, since I was very young, and they chose two of us. Rowing a sampan is quite a skill because there’s only one paddle to power and steer,” Susie says.

“I flew there on December 31, 1970, but arrived on New Year’s Day in 1971. It was the coldest place I’d been. Then, for the opening ceremony, I rowed the sampan for the British Prime Minister, [Edward] Heath.”

Tommy is again in shock, his head flicking back, eyes wide open. “I didn’t know that!”

“A lot of people came up to me for autographs,” Susie continues. “What for? I didn’t understand what they wanted.”

BACK IN HONG KONG

In the early 1970s, Sai-lo became a foreman at the Royal Hong Kong Yacht Club before setting up his own family-named repair service operation onsite in 1977 with Susie, who has helped manage the operation for over four decades, although she has recently handed most responsibility to Tommy’s second-eldest brother.

Tommy Ho (middle) with his brothers on the family boat in Causeway Bay Typhoon Shelter

In 1983, Sai-lo left the new family business to join the new Club Marina Cove, which Henderson Land had developed from a fishing farm into a marina and residences. In fact, Sai-lo was recruited by Grantham Sharkey, Tommy’s godfather and the former marina manager of Royal Hong Kong Yacht Club, who was hired by Marina Cove.

When Tommy was young, the family spent time living on a junk in the Causeway Bay Typhoon Shelter by Royal Hong Kong Yacht Club and he has fond memories of this period of his life ( featured in COLUMN, Issue 46 ), although there were hardships, such as showering with no hot water.

As a schoolboy, Tommy joined his father at Marina Cove each Sunday, helping yacht owners with their belongings, cleaning yachts and doing other odd jobs.

“I needed to make some pocket money,” says Tommy, who has a younger sister as well as two elder brothers. “I remember owners in those days were very generous. A Coca-Cola was HK$2 and the owners would give me HK$20 tips.”

After finishing his studies, Tommy worked for the local dealer of Musto sailing apparel and also distributed other sailing gear and even jetskis, selling over 100 in a year. However, when the effects of the 1997 Asian financial crisis took effect, he had to close his shop and found himself in debt.

Tommy Ho in the background at June’s Family Days weekend at Marina Cove, co-organised by Ferretti Group and Voyager

Tommy started working at the Royal Hong Kong Yacht Club,
 where he met Colin Dawson, who thought the youngster’s extensive experience in boating would prove an asset in insurance, so asked him to join him at Heath Lambert.

Tommy’s first day in insurance was September 10, 2001, a day ahead of the infamous 9/11 attacks. Despite the inauspicious start, he worked at Heath Lambert until 2006 and then spent 12 years at Aon until founding Voyager last year.

THE VOYAGE CONTINUES

With strong financial backing and Tommy’s now 18 years in the industry, Voyager has made strong inroads into the local yacht insurance market in a short time. “I’d say 80 per cent of the boat dealers in Hong Kong are using our services,” he says.

Recent high-profile contracts include those for the first-ever Pershing 140, which could arrive in Hong Kong in September, and Ferretti Group models from Riva, Custom Line and Ferretti Yachts. Others include an Azimut Grande 32 Metri and Sunseekers like the 74 Predator set to arrive in July and 76 Yacht that arrived earlier this year.

Voyager is managing the insurance for the first-ever Pershing 140, coming to Hong Kong

Voyager has also signed an MOU with the Hong Kong Cruise and Yacht Industry Association (HKCYIA) to provide risk-management and insurance consultation services for the upcoming Superyacht Management Services Centre, which is a redevelopment of the Yiu Lian and Euroasia Dockyards in Tsing Yi, and set to open in 2020.

Along with his team’s insurance expertise, Tommy is confident of Voyager’s well-rounded offerings due to his and his family’s vast experience of working on yachts and with the many key suppliers, yacht clubs and marinas in the city.

“This is where we show our expertise. I know whether any repair claim is reasonable or if a supplier is overcharging. I can also call shipyards to prioritise urgent repairs. I’ve even helped prevent yachts from sinking by making phone calls to the right people,” he says.

“I’m also a boat owner, so I know what owners need to look out for and how they think. There’s no other insurance broker with my connections in Hong Kong, plus I also have a good network in China, Taiwan, Philippines and so on.”

In fact, one of Tommy’s next ambitions is to expand Voyager across Asia and the move has already begun with a representative office in Singapore. He’s looking for opportunities to expand in the likes of Taiwan, Philippines and Thailand.

Tommy Ho’s famliarity with so many aspects of the yachting industry is due in large to his parents

Yachting makes up the vast majority of Voyager’s business, so his other ambition is to expand business in non-yachting sectors, which already includes automobiles, art, wine, jewellery, financial, even kidnapping and ransom, and now professional indemnity insurance.

“We know everyone in yachting in Hong Kong, so we can improve here, but not by a great amount. However, we definitely can increase a lot in the other sectors in the coming years.”

Tommy remains upbeat about his city’s own yachting market, which has slowed due to a lack of berths. He believes there’s potential money and interest in growing infrastructure in the city, but that government approval remains an obstacle.

“For one, Discovery Bay is being redeveloped, while I’ve been speaking to some tycoons and they’re interested in investing in and building marinas. They’re even asking where they can buy land
for this, but building a marina needs approval from many different government departments.”

Tommy Ho may be among the most connected people in Hong Kong boating circles, but he’s well aware of who gave him the start in the industry and provided him with the network and support to be one of the region’s rising stars in yacht insurance.

“Tycoons won’t do business with you unless they know you, who you are, like some family history or connections.” And for that, he knows who to thank.

The original article appears in Yacht Style Issue 48. Email [email protected] for print subscription enquiries or subscribe to the Magzter version at:   w ww.magzter.com/SG/Lux-Inc-Media/Yacht-Style/Fashion/

Yacht Style 48: The 2019 Charter Issue Out Now! Yacht Style 48: The 2019 Charter Issue Out Now! SHARE Share on facebook Share on linkedin Yacht Style's annual Charter Issue covers Asia's greatest getaways, the 2019-20 racing calendar, and yachts...

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 With growing complexity and increased underwriter scrutiny across a range of marine risk classes, Gallagher can assist with structuring a comprehensive solution that benefits from our deep expertise in this sector and access to exclusive markets through our network of international partners.

Marine insurance coverage highlights:

• Marine liability insurance and cargo risk management solutions covering commercial hull, port, and cargo terminals and logistics, including supply chain risk transfer, logistics liability, equipment and machinery, and property liability
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Gallagher offers global commercial marine and cargo insurance expertise with access to specialist advice covering the key global markets. We develop bespoke solutions specific to Singapore and the Asia Pacific (APAC) region, as well as international programs for complex marine and logistics operations.  

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In the wake of the COVID-19 pandemic and reduced cargo throughput into many international ports, the flow on impact to sea freight and other marine logistics operators has been significant. 

Given the challenge this creates to the flow of imports, exports and distribution of goods in key Asian markets, and increased storage times at ports and terminals, we strongly recommend the ongoing review of insurance and risk programs to ensure they remain fit for purpose.

Our marine and cargo risk management experts are well placed to advise on structuring your insurance program and managing strategic marine, cargo & logistics placements.

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Chubb has been a leading provider of yacht insurance for over 100 years, offering some of the most comprehensive policies available for private, pleasure watercrafts. Being on the water is an experience of peace, calm, and new adventures on the horizon. It’s an experience you want to protect. Our Masterpiece® Yacht insurance policy offers superior coverage for pleasure yachts 36 feet or greater in length. And for captained vessels 70 feet or greater in length and valued at $3 million or more, our  Masterpiece Yacht Preference policy has the specialty coverages you and your crew need.

Masterpiece® Yacht Policy Highlights

Agreed Value Coverage

We pay the entire agreed amount, with no deductible, for a total loss. With our Masterpiece Yacht Select policy, eligible vessels can receive Replacement Cost coverage up to 120%.

Liability Protection

Limits of coverage to suit your personal needs, including: legal defense costs, liability as required by the Oil Pollution Act of 1990, wreck removal, and Jones Act coverage for paid crew.

Replacement Cost Loss Settlement

Repair or replacement of covered property is paid for without deduction for depreciation for most partial losses.

Uninsured/Underinsured Boater Coverage

Pays for bodily injury to persons aboard the insured watercraft who are injured by an uninsured owner or operator of another vessel.

Medical Payments

Reasonable medical and related expenses are included for all those onboard, boarding or leaving the covered vessel. These benefits are provided on a per person basis, rather than per occurrence. Optional and customized limits are available.

Search & Rescue

Up to $10,000 for the expenses incurred by an insured in relation to a governmental unit such as the United States Coast Guard (USCG) who provide emergency aid and assistance are included for no additional charge. With our Masterpiece Yacht Select option, coverage is available up to $25,000.

Longshore and Harbor Workers’ Compensation Act (LHWCA)

When Liability coverage is purchased, coverage is automatically provided for those employed aboard the vessel who are within the jurisdiction of the LHWCA.

Personal Property & Fishing Equipment Coverage

Protection is automatically included for the clothing, personal effects and fishing gear of the boat owner and their guests. Optional higher limits are available.

Coverage for Marinas as Additional Insured

Marinas, yacht clubs and similar facilities where clients keep their vessels are included as Additional Insureds.

Trailer Coverage

We automatically include coverage up to $5,000 for your trailer used with your insured vessel. Higher limits are available.

Emergency Towing & Assistance

Our policy includes this coverage with optional higher limits available.

Boat Show & Demonstration Coverage

We automatically provide this coverage, at no additional charge.

Precautionary Measures

We will pay up to the policy limit the reasonable costs incurred to haul, fuel or dock the insured watercraft endangered by a covered peril.

Bottom Inspection

We will cover the reasonable costs to inspect the bottom of an insured vessel after grounding, stranding, or striking a submerged object. There is no deductible for this coverage.

Oil Pollution Act of 1990 (OPA) Coverage

If Liability coverage is purchased, our policy provides coverage in addition to the Liability limit, up to the required OPA statutory limits, regardless of the Liability limit chosen. Additionally, if the OPA statutory limit is increased in the future, our policy will automatically increase the applicable OPA limit to match the new higher statutory limits.

Temporary Substitute Watercraft

Up to $5,000 to charter a temporary substitute watercraft if the insured vessel is out of commission due to a covered loss and cannot be repaired within 72 hours. With our Masterpiece Yacht Select policy offering, the limit of Temporary Substitute Watercraft is increased to $10,000.

Marine Environmental Damage Coverage

This feature provides protection up to $10,000 for fines and penalties as a result of marine environmental damage, as defined by the policy terms. Coverage is provided in addition to the insured's applicable Liability and OPA limits. With our Masterpiece Yacht Select policy offering, the limit of Marine Environmental Damage Coverage is increased to $25,000.

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Chubb offers some of the most comprehensive protection and services available rain or shine.

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Masterpiece Yacht Preference

Masterpiece Yacht Preference fulfills the specialty insurance needs of luxury yacht owners with captained vessels 70 feet in length and greater, valued at $3 million or more.

No depreciation applies on the following items

Machinery inside the hull, Personal Property, dingy/tender, and Personal Watercraft.

Emergency Towing Service

We include coverage up to the amount of Property Damage with no deductible.

The medical payments limit offered is on a per occurrence basis, and we will pay costs incurred up to three years from the date of occurrence.

Marina as Additional Insured

The marina, yacht club, or similar facility where the insured yacht is docked, moored, or stored is included as an Additional Insured.

Captain and Crew Coverage

Liability coverage is extended to the captain and crew members serving aboard the insured yacht.

Defense Costs

Defense costs are included in addition to the limit of liability and includes up to $50,000 loss of earnings.

Mooring or Slip Rental Agreement Waiver

When waiver of subrogation is required through a written contract by a yacht club, marina, or similar facility used for the purpose of storage or slip rental, our Masterpiece Yacht Preference policy will permit an insured to waive their rights of subrogation.

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In the dynamic world of shipping trades, there are unimaginable risks lurking around that may disrupt your business. For over a century, clients have entrusted us and have relied on our expertise and accumulated wealth of experience to help identify and manage these uncertainties through product leadership and product innovation.

At QBE, we have the most comprehensive list of marine insurance coverage available and these are broadly classified into the following classes (with its various sub-classes):

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Marine Liability

QBE offers the combination of international capability and capacity that comes from being part of a significant worldwide insurance group. We are committed to providing clients with comprehensive, viable and affordable solutions to help them achieve peace of mind.

Ship your goods anywhere throughout the world and enjoy peace of mind. With cargo insurance from QBE, your goods are covered from the time they leave your premises until your customer receives the goods at their premises. Should anything happen to your goods, we have our offices and agents worldwide to help look after your interests.

Single Voyage Marine Cargo

This policy insures cargo for a voyage that could be between two or more places. It provides cover from the time the cargo leaves the supplier’s warehouse until it is delivered to the final consignee’s warehouse, unless this is altered by virtue of the terms of sale.

Marine Cargo Open Cover

This policy covers all shipments that a client may have on terms and conditions that are pre-agreed with the insurer. It gives the insured the peace of mind that all their shipments that fall within the cover are insured subject to declaration of such shipments being made in a manner as agreed with insurer. Click here for Proposal Form .

Project Cargo and Delay Start Up Cover

This insurance provides cover for shipments of large equipment that are moved for specific projects such as power plants or the setting up of industrial complexes. There could be concerns that a delay in the delivery of the cargo due to a problem during the voyage could result in financial loss. This may include expenses having to be incurred on site during the period that the lost or damaged portion of the cargo is being either replaced or repaired. This policy provides cover for such delay in the start up of the project following the incident.

Towing Risks

Cargoes may have to be delivered to ports and/or places which can only be accessed by vessels that have a shallow draft. For example, many timber concessions and coal mines are located in remote areas that can only be reached via rivers and necessary machinery and equipment must be brought in on a barge that is towed by a tug. This policy provides cover for cargo delivered by this mode of transportation.

Goods-In-Transit

This policy insures goods that are moved on road conveyances such as trucks, vans or low loaders. Such transits can be within Singapore and/or between Singapore and West Malaysia.

Comprehensive Exporters and Products Liability

For SMEs exporting manufactured goods overseas, we can provide a Products Liability cover to complement the marine cargo policy.

In the business environment, service providers in areas such as transportation, freight forwarding, stevedoring, ship repairs, and other professions in the marine industry who provide advice to their customers, or organisations that operate terminals, face a multitude of responsibilities and liabilities.

Transport Operators Liability

For those in the business of transporting cargo, QBE can help you manage your transport liabilities through our Transport Operators Liability cover. Click here for Proposal Form.

Stevedores Liability

Insurance for the stevedores provides coverage to many of the exposures encountered, including liabilities for loss or damage to vessels, their cargoes and damage to wharves, piers and docks while loading onto and unloading from a vessel. Click here for Proposal Form .

Shiprepairers Liability

Shiprepairers Liability Insurance provides cover to shiprepairers for their legal liabilities to vessels under their case, as well as for third party property damage and for death or injury.

Marine Professional Indemnity Insurance

Designed for marine professionals such as marine surveyors and ship agents, this cover helps protect your business against claims for loss or damage by a client or a third party if you have made mistakes. Or if you are found to have been negligent in some or all of the services that you have provided for clients. Click here for Brochure  and Proposal Form .

Marine Terminal Operators Package

Marine terminal operators are also potentially exposed to a wide variety of legal liabilities, including liability for damage to vessels, cargoes or property belonging to customers as well as third-party property damage and liability for death or bodily injury to third parties.

The Marine Terminal Operators Package provides cover for these liabilities enabling you to manage these risks to your marine terminal operations.

Click here for Proposal Form

Marina Operators Liability

Insurance for the marina operators providing cover for legal liabilities incurred for damage to pleasure crafts or vessels in the operator’s care, custody and control and for third-party property damage, death or injury to third parties. Click here for Proposal Form .

Commercial vessels are subject to a range of damages and liability risks that can amount to significant financial loss. QBE is dedicated to help manage your exposures by providing Hull & Machinery Insurance for shipowners and operators based on their individual needs.

Hull and Machinery

Insurance for shipowners and operators providing coverage for physical loss or damage to the hull and machinery of the ship.

Increased Value/Disbursement

This cover provides additional insurance, usually limited to 25% of the Hull value, in the event of the vessel becoming a total loss. The policy provides insurance against the loss of revenue and increased costs arising out of an incident that is covered under the Hull & Machinery Insurance.

Insurance for physical loss or damage to the vessel arising from war and strikes perils.

Mortgagees Interest

Insurance for the mortgagees (banks or financial institutions) for outstanding monies due to them in the event of non-payment of claim under a Hull & Machinery and/or Increased Value policy following a breach of warranty by the operators of the vessel.

Innocent Owners Interests

Insurance for the innocent owners whilst their vessel is on a bareboat charter. The shipowner is exposed if Hull & Machinery and/or Increased Value covers do not respond, due to the arrangements becoming void following an act by the disponent owner or bareboat charterer.

Builders' Risks

This type of insurance covers a vessel while it is under construction. During that period, it is exposed to risks such as fire, tidal wave or failure in launch. It is also exposed to collision and sinking on a trial trip. The builders’ risk insurance effected by shipyards provides cover against all such risks. Click here for Proposal Form .

Commercial Third Party Liability

This cover provides insurance against certain liabilities to third parties that may be incurred by the shipowner or operator of the vessel such as damage to third-party property or bodily injury to third parties arising from incidents such as a collision with other vessels or removal of wreck.

Pleasure Craft Insurance

For recreational sailors, the sea promises freedom and adventure but the lurking perils at sea can potentially place you or your yacht at risk. Enjoy the freedom of your leisure activity and leave the risks of dealing with unexpected problems and accidents to QBE.

Pleasure Craft Insurance can help protect you against the physical loss or damage to your craft including any liabilities to third-party property and injury to third parties, arising out of the use of your pleasure craft.

• Proposal Form

British Marine P&I (Asia)

The British Marine office in Singapore, along with our colleagues in London, specialise in the underwriting of P&I insurance for owners of small to medium-sized merchant ships specialist craft, and fishing vessels operating in the region. In being served by an independent A+ S&P rated Insurance company, clients can feel secure in the knowledge that the premium they pay will not be subject to unbudgeted additional premium charges and that claims and underwriting are driven by the provider and not by reinsurers.

We offer fixed cost insurance backed by Standard & Poor's ‘A+’ rated security, whilst maintaining the tradition of mutual insurance in providing a high level of service to all our clients.

For more information, you can also visit the British Marine website  www.britishmarine.com or contact us: [email protected]  

British Marine 2023 Charterers P&I Terms & Conditions

British Marine 2023 Owners P&I Terms & Conditions

Important Notice: The above only serves as a general description of our products and services. For full product details and coverage, please check with your local insurance broker or a QBE authorised agent.

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The journalists on the editorial team at Forbes Advisor Australia base their research and opinions on objective, independent information-gathering.

When covering investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product or asset classes. While we may highlight certain positives of a financial product or asset class, there is no guarantee that readers will benefit from the product or investment approach and may, in fact, make a loss if they acquire the product or adopt the approach.

To the extent any recommendations or statements of opinion or fact made in a story may constitute financial advice, they constitute general information and not personal financial advice in any form. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers.

Readers of our stories should not act on any recommendation without first taking appropriate steps to verify the information in the stories consulting their independent financial adviser in order to ascertain whether the recommendation (if any) is appropriate, having regard to their investment objectives, financial situation and particular needs. Providing access to our stories should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Forbes Advisor Australia. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do not constitute a comprehensive review of a particular sector. While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed. We make every effort to provide accurate and up-to-date information. However, Forbes Advisor Australia cannot guarantee the accuracy, completeness or timeliness of this website. Forbes Advisor Australia accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in our stories or any other information made available to a person, nor any obligation to furnish the person with any further information.

Our Pick Of The Best Boat Insurance For Australians

Published: Apr 18, 2024, 8:17pm

It may not come as a surprise that Australians love taking boats out on the water as 87% of the population live within 50km of the coast. Data from the Boating Industry Association for 2022/23 shows that 2.5 million Australians have a boat licence—that’s almost 10% of the population.

As a boat is a considerable investment, it’s a good idea to protect it as you would your car. Boat insurance can offer similar benefits to car insurance , such as cover for damage to the boat itself and its contents, and legal liability, if you damage someone else’s property, or someone is injured or dies as a result of an accident you’ve caused.

However, it additionally offers more boat-specific cover, paying out for environmental damage caused by an oil, fuel or waste leakage, for example. Many policies also offer cover for sailboat racing and waterskiing, typically as an optional extra and for an additional premium.

As all policies differ in their features, it’s essential to compare them to find what you need for a suitable price. You should first decide, if you need third-party only; third party, fire and theft; or comprehensive cover which protects against the widest range of eventualities. We’ve conducted extensive research into the latter, to find what we consider to be the best comprehensive policies. All policies include cover for loss or damage to your boat as a result of storms, floods, fire and theft. You can find out how we scored them in the methodology section further down this page.

Note: the below list represents a selection of our top category picks, as chosen by Forbes Advisor Australia’s editors and journalists. The information provided is purely factual and is not intended to imply any recommendation, opinion, or advice about a financial product. Not every product or provider in the marketplace has been reviewed, and the list below is not intended to be exhaustive nor replace your own research or independent financial advice. For more information on how Forbes Advisor ranks and reviews products, including how we identified our top category picks, read the methodology selection below.

Nautilus Marine Boat Insurance

Gio boat insurance, racv boat insurance, suncorp boat insurance, nrma boat insurance, apia boat insurance, youi comprehensive boat insurance, club marine boat insurance, methodology, what is boat insurance, what does boat insurance cover, what else should i consider when comparing boat insurance policies, what is agreed vs market value, can i cancel my policy, how can i compare boat insurance, frequently asked questions (faqs).

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Agreed or market value

• Choice of repairer

Liability cover

Limit not readily disclosed

This offering is the most comprehensive we found, covering your boat up to 250 nautical miles from the Australian coastline. Unlike most boat insurance policies, there’s the option to have your boat insured at market or agreed value.

There’s $5,000 each for emergency expenses and funeral costs, $20,000 for personal effects, $500,000 for marine damage, and $50,000 for related fines and penalties. This policy also allows you, rather than the insurer, to choose a repairer for your boat if damaged. Additionally, you have a choice of how much you pay in excess on accepted claims, which can lower or raise the policy premium, to a more favourable level. This policy is also a rare one in that it automatically covers sailboat racing, limiting the distance to up to 100 nautical miles. Additional cover can be purchased for longer races. Note that while this policy offers legal liability cover, the limit is not disclosed.

Aside from comprehensive cover, this insurer also offers third party only, extended blue water yacht racing and blue water cruising policies.

• Lay-up discount available
• 21-day cooling off period
• Insures at market value or agreed value
• No rescue cover
• No salvage cover
• Cover for ‘reasonable’ repairs at market value only

$10 million

As is common with boat insurance, this policy covers you up to 200 nautical miles off Australia’s shores. However, it offers up to $10 million in salvage and removal cover, which is relatively high compared to policies provided by other insurers.

It also includes $250,000 to cover the cost of removing or containing damage caused by pollution from your boat and related legal costs, if your boat is stranded or damaged. There’s $5,000 each for emergency repair, the boat’s contents and fatal injury. Unlike certain policies, this one also covers rescue, paying out up to $5,000. However, one drawback is that your boat can only be insured at agreed value. A lay-up discount and cover for sailboat racing and watersports are optional extras that can be added.

If you make a successful claim, the policy allows you to choose the repairer. You can also pay an excess amount that you choose on taking out the policy. Paying a low amount in excess typically raises the policy premium and vice versa.

This insurer also offers third-party boat insurance as an alternative to comprehensive cover.

• $10 million legal liability
• Rescue cover included
• Insures at agreed value only

This policy pays out up to $5,000 for emergency expenses, and covers damage up to the agreed value, as long as your boat stays within 200 nautical miles of Australia’s coastline.

It also covers rescue up to $5,000 and salvage costs, as long as they are ‘reasonable’, while $250,000 is available for clean-up expenses to remove, contain or clear debris and liquid from your boat as a result of an insured event. For funeral expenses, there’s $10,000, while $10 million is provided in legal liability cover. However, content cover is only available to bolt on to the policy as an optional extra. Insurance for sailboat racing and watersports are also available as add-ons, for an extra premium.

Unlike certain policies, you can choose a repairer, which is an added bonus. You also have a choice of how much excess you pay on each accepted claim. Note that this comprehensive offering is the only type of boat cover this insurer offers.

• $250,000 clean-up costs
• Covers ‘reasonable’ salvage costs only
• Contents cover not automatically included

Suncorp’s comprehensive boat insurance offers a suite of attractive features: there’s $10 million in salvage and removal cover; an equal amount in legal liability cover; $250,000 for pollution by oil, fuel or waste; and $5,000 each for emergency expenses, the boat’s contents, and for fatal injury.

The policy will remain valid up to 200 nautical miles from Australia’s shores, covering your boat at agreed value only and paying out up to this value for rescue. Note that if the boat is damaged, only the insurer can choose a repairer. However, you will have a choice of how much excess you pay on accepted claims, when you first take out the policy. Paying more in excess can lower your policy premium and vice versa.

Cover for sailboat racing and water-skiing can be added on to the policy at an extra cost. This insurer offers third party cover, as an alternative to comprehensive cover.

• No choice of repairer

This policy will cover your boat up to 200 nautical miles from Australia’s coastline, covering ‘reasonable’ repair costs up to an agreed value only. However, it allows you to choose a repairer, if you wish, and offers several excess options to choose from when taking out the policy. Opting to pay a higher excess on accepted claims can lower the policy premium and vice versa.

The policy also includes salvage cover, though no specific limit is readily provided, and $10 million in legal liability cover, including $250,000 for clean-up costs. It also offers $10,000 for funeral costs, up to $800 for emergency repairs and an additional $1,000 to cover emergency transport and accomodation. There’s $1,000 to cover the boat’s contents, which is relatively low compared to other insurers, but there is the option to increase this amount to $1,500 by paying an additional premium.

This policy does not cover rescue, but insurance for sailboat racing and water-skiing are available at an additional cost. This insurer also provides third party insurance as an alternative to its comprehensive offering.

• 21-day cooling period
• $800 only for emergency repairs

In addition to $5,000 in cover for rescue, Apia’s comprehensive boat insurance includes $10 million each for salvage and legal liability. It also offers $250,000 for clean up and $5,000 for emergency expenses.

For fatal injury, there’s $5,000, while up to $250 is provided for the boat’s contents and $250 for personal effects. Cover for sailboats and watersports come as optional extras, at an additional cost. Cover remains valid up to 200 miles from the Australian mainland and Tasmanian coastlines.

The policy offers several excess amounts to choose from, allowing you the ability to lower your policy premium, if you prefer to pay more in excess, and vice versa. Note that the insurer will choose a repairer for you on this policy. As an alternative to comprehensive cover, it also offers third party insurance.

• $10 million salvage
• Insured at agreed value only
• No lay-up discount

Youi Comprehensive Boat Insurance covers you up to 200 nautical miles from the Australian and Tasmanian coastlines, providing $1,000 for emergency repairs, transport and accomodation. However, it insures at market value only and you can’t choose the repairer if you’re boat is damaged.

There’s $1,000 for the boat’s contents, $10 million for legal liability and $5,000 for accidental personal injury. The latter rises to $10,000, including for funeral expenses, if injury leads to death. The policy also includes $150,000 for salvage costs and $250,000 in pollution cover. Note that the policy does not include cover for rescue, and offers a 20-day cooling off period, which is slightly shorter than the 21-day period offered by many insurers. Social sailboat racing cover is available as an optional extra for an additional premium, but water-skiing cover is not provided.

As well as comprehensive cover, Youi offers a third party property only policy, and third party fire and theft insurance. It also provides a choice of excess amounts, allowing you to raise how much is levied in exchange for a lower policy premium, or vice versa.

• $10 million legal liability cover
• Insurer offers good range of policy types
• $10,000 accidental injury cover
• Market value only
• Water-skiing cover not available

While pleasure boat insurance is Club Marine’s most comprehensive offering, it also provides third party cover. The former, which we analysed, can cover your boat at market or agreed value, up to 250 nautical miles from Australia, protecting it against damage costs up to the policy limit. You, rather than the insurer, can choose a repairer when needed.

The policy also includes $10,000 for personal effects, $500,000 to cover clean up costs, and covers ‘reasonable’ costs for salvage. Insurance for water-skiing and sailboat racing can be bolted on to the policy at an additional cost. You can also add cover for emergency measures if you choose, but such scenarios are only covered up to a ‘reasonable’ amount. There is no automatic or optional cover for rescue.

You can choose from a number of excess options when taking out the policy, which allows you to raise the excess to lower the policy premium or vice versa, depending on your preference.

• 14-day cooling period
• Lay-up discount optional

To find our pick of the best comprehensive caravan insurers in Australia, Forbes Advisor analysed 14 of the most popular companies in the country.

Our analysis included comparing how a boat is insured (whether by market value or agreed value); policy benefits, such as cover for emergency expenses and accidental damage; and an in-depth review of each provider’s product disclosure statement (PDS) to evaluate any exclusions and extras.

The policies were compared across the following 16 key data points:

Market versus agreed value: Can owners choose how their boat is insured? Choice of repairer: Can boat owners choose the repairer? Choice of excess: Do boat owners have a choice of how much excess they pay? Note that paying a high amount in excess usually lowers the policy premium, and vice versa. Cooling-off period: What is the cooling off period for purchase? Emergency expenses: Are boat owners covered for emergency expenses and by up to how much? Above $1,000 is great. Fire and theft: Does the policy include fire and theft cover? Legal liability: As boating and its equipment is expensive, is there at least $10 million for damage a boat owner may accidentally cause with their boat? Contents cover: Are the contents of the boat covered by more than $4,000? Natural disasters: Is there cover for floods and storms? Funeral services: Is there at least $10,000 or more for funeral expenses? Salvage costs: Is there at least $10 million for salvage operations? Clean-up costs: is there at least $250,000 for clean-up costs? Rescue services: Is there at least $5,000 for rescue services? Water-skiing: Is there cover for water-skiing automatically or as a policy add-on? Sailboat racing: Is there cover for sailboat racing automatically or is there an add-on? Discounts for ‘lay-up’: Does the insurer offer lay-up cover to allow owners to save on their premium when the boat is stored?

These variables were compared to complete an overall ranking of each comprehensive boat insurance provider. Each provider was ranked between one and five, with the leading providers (being those ranked higher than 3.5) included in the above best-of list.

A Note on Star Rankings

You will note that we have included a star rating next to each product or provider. This rating was determined by the editorial team once all of the data points above were considered, and the pros and cons of each product attribute was reviewed. The star rating is solely the view of Forbes Advisor editorial staff. Commercial partners or advertisers have no bearing on the star rating or their inclusion on this list. Star ratings are only one factor to be considered, and Forbes Advisor encourages you to seek independent advice from an authorised financial adviser in relation to your own financial circumstances and investments before you decide to choose a particular financial product or service.

As the name suggests, cover for boats can protect you when using a vessel such as a motorboat, yacht, small craft or super yacht. An insurer will be able to tell you what type of vessels it specifically covers. Similar to car insurance, the following types of boat cover are available:

Third party only: Protects against claims of injury or death, or damage to property by passengers or other third parties. Third party, fire and theft: Covers everything a third party only policy does, as well as someone stealing your boat and damage caused by fire. Comprehensive: Covers the widest range of unexpected emergencies, including those caused by theft, accidents and natural disasters.

The benefits of boat insurance can differ between policies. However, you’ll find that most comprehensive policies tend to include cover for the following:

Accidental loss and damage: This can include cover for theft, impact, sinking, fire, a storm, malicious damage and transit damage, when your boat is being transported on its own trailer

Emergency expenses: Covers the cost of emergency assistance such as the towing of your boat to the nearest safe place, or for the delivery of fuel, if your boat is stranded due to an emergency or unforeseen incident. It can also cover urgent repairs.

Personal effects/contents: Insures you for theft, loss or damage of belongings owned by you and depending on the insurer, your passengers, which are being used or stored on your boat at the time of an incident. This can include clothing, fishing and diving equipment and unfixed furniture. There are typically exclusions to this cover such as jewellery, money and mobile phones. Sub-limits on cover may also apply to certain items. Clean-up: Covers the cost to remove, contain or clear waste and pollution caused by your boat. Salvage and removal: Covers the cost of recovering your boat and moving it to a safe place in the event your boat is stranded or damaged in a covered incident. Legal liability: Covers you for injury to other people or damage to someone’s property when using your boat. Funeral expenses: Pays out following the accidental death of an insured person on the policy while boating.

A policy may also include cover for rescuing from a stranded boat, while insurance for sailboat racing and waterskiing may each come as optional extras that you can bolt on to your policy at an additional cost.

In addition to the types of cover included on a policy, you’ll also want to find out how far you can take your boat from land. Typically, you can travel 200 nautical miles away from Australia’s coastline without invalidating your policy. Certain insurers may allow you to travel farther out. You may also want to check if you can choose the repairer if you claim for damage, or if the insurer must choose.

Certain policies may offer a lay-up discount, often as an optional extra. This is when you can nominate certain months in the year that you don’t use your boat, and the insurer will charge you less for your policy during these times. This discount is worth considering, in addition to the policy premium (the cost of the policy). You’ll also want to weigh these factors up against the excess you’re typically required to pay on each accepted claim. This sum is usually automatically deducted from the claim amount. On taking out your policy you may have the option to choose an excess amount. While lowering it can usually raise your policy premium, paying more in excess could lower your policy premium to an amount that you may prefer.

Most insurers offer either agreed value or market value policies. However, some insurers may offer the option to insure at agreed value or market value, depending on your preference, although this is rare.

On an agreed value policy, the value is determined through a boat valuation you arrange before the policy starts. This must usually be carried out by a registered boat dealer or broker who specialises in your type of boat.

On a market value policy, the value of your boat will be determined at the time of claiming, typically using dealer or repairer valuations or industry publications.

You’ll want to read a policy’s PDS thoroughly before deciding whether it’s worth purchasing. This should be available to view on the insurer’s website. It will detail what the cover includes and excludes, as this differs between policies.

Insurers usually offer a 21-day cooling-off period during which you can cancel your policy and get a refund, should you change your mind and haven’t yet made a claim.

Certain policies may come with a shorter cooling off period of 20, or even 14 days. As with all the details of your policy, you can check how long this period will last in its PDS.

A quick way to compare boat insurance policies is to run quotes on the websites of individual insurers. Shopping around will raise your chances of finding a suitable policy, at the best price available.

As well as the cost of a policy, you will be able to compare factors, such as the types of cover included, cover levels and the amount of excess levied on each successful claim you make.

First, you’ll need to enter a few details into the insurer’s online quotation tool to give it an idea of the type of boat that needs covering, how you use it, its speed and engine type, where you store it when not using it and more. An insurer will also want to know information about you, such as your age, and boating experience.

Data Research: Mia Dunn

How much boat insurance do I need?

The amount of cover you will need will depend on factors such as the value of your boat and the contents inside, whether it will be insured at agreed or market value.

You’ll want to carefully look through a policy’s PDS to find out exactly what it does and does not cover. You may want to consider a different policy if it automatically includes cover you don’t need such as water skiing insurance.

What is the best boat insurance policy?

Our above ranking of what we consider to be the best comprehensive boat insurance policies gives you an idea of how they compare based on what we’ve identified as key factors.

In addition to the levels of cover available, we considered whether owners can choose the repairer that fixes their boat, whether they have a choice of what they pay in excess, how long of a cooling off period is provided, should they wish to cancel their policy and get a refund and more.

However, the best boat insurance for you will ultimately come down to your personal preferences, budget and needs.

How much is boat insurance in Australia?

According to the Pacific Boating club, insuring your vessel can cost upwards of $300 per year.

The specific price will be based on factors such as the size and make of your boat, as well as the type of policy you choose.

I have been writing for newspapers, magazines and online publications for over 10 years. My passion is providing, in a way that is easily accessible and digestible to all, the knowledge needed for readers to not only manage their finances, but financially flourish.

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Tommy Ho: The Rising Son of Yacht Insurance in Asia

Yacht Style profiles TOMMY HO, Founder and CEO of Voyager Risk Solutions, who manages insurance for many of Hong Kong’s new luxury yachts and is starting to expand across Asia.

Tommy Ho Wai-lok is well known in Hong Kong’s yachting circles, but plenty still know him as the third son of Ho Sai-lo, who retired in June 2018 after 35 years managing the boat yard at Club Marina Cove.

Tommy Ho with Kara Yeung, Executive Director of HKCYIA, at the signing ceremony of the MOU for Hong Kong’s new Superyacht Management Services Centre

Tommy still frequently attends events at Marina Cove as the Sai Kung venue regularly hosts private events for many of the world’s leading luxury yacht brands, including Ferretti Group, Azimut, Sunseeker, Fairline, Monte Carlo Yachts and Prestige from April through June.

In June, Voyager co-hosted the Family Days weekend at the end of the nine-day Ferretti Group Itinerary Show and Tommy found himself fielding more questions about his father than himself.

“When I go to Marina Cove, lots of friends and familiar faces come up to me, but they all ask about my Dad, like how’s Sai-lo enjoying retirement, how’s his health,” laughs Tommy during an interview with his father and mother, Susie Lei, who’s still involved with the family’s yacht repair business at Royal Hong Kong Yacht Club.

“When I go to events, a lot of people know me because of my parents and in fact, we generated business at that event. It’s great I’m also in boating like my parents, because we can always talk about boats, whether one’s good or bad, its design, the quality, so on.”

However, what’s surprising is how often Tommy’s surprised when hearing stories from his parents, who both grew up working on the water, his father initially crewing on sailing boats and his mother a leader of one of the famous ‘side party’ groups of sampan women who cleaned the hulls of military ships.

AROUND THE WORLD

In the early 1960s, Ho senior responded to an advert from an American, Vad Jelton, who was recruiting two crew for a long cruise with his wife on a 55ft sailing yacht.

Susie Lei and Ho Sai-lo with Tommy Ho, their third son

Sai-lo recalls: “I saw the advert recruiting for crew, so I went for an interview. At that time, my salary was HK$160 per month…”

Tommy’s eyes widen in shock – “Wah, so little” – before his father continues.

“Then the American offered me HK$700 per month, so it was an easy decision. The boat stopped in a lot of places so it took a long time, almost two years. We eventually finished working in San Francisco.”

“He did it for the money,” smirks Susie, who married Sai-lo after he returned to Hong Kong in late 1965.

Sai-lo said the most alarming episode was when the owner’s wife started screaming as she thought the boat was going to sink.

“The wife was steering, but she was hungry, so she asked me to take over at the wheel while she went to get some food. When she got down to the galley, she found the whole place was flooded and started crying out. A hole in the pump was leaking and flooded the whole deck. We stopped the boat, found out where the leak was, then repaired it.”

Tommy Ho’s mother, Susie Lei (on left), with Prime Minister Edward Heath at the 1971 London Boat Show, with the photo appearing in the South China Morning Post

As Sai-lo continued to work as crew on boats on his return to Hong Kong, Susie continued her sampan-based work, which included managing her side party brigade, cleaning the sides of Royal Navy ships at HMS Tamar, chipping off rust and repainting them.

“They didn’t pay me,” she says. “They’d give us old rope, wires, anything we could either use or sell.”

Tommy knows about his mother’s participation in the 1971 London International Boat Show at Earl’s Court when ‘The boats and water-people of Hong Kong’ was a theme and she was one of two ladies, along with Annie Ho, selected to represent the then-colony.

“They wanted to promote Hong Kong and they sent two sampans to London for the show. I had been working with the Royal Navy ships for a long time, since I was very young, and they chose two of us. Rowing a sampan is quite a skill because there’s only one paddle to power and steer,” Susie says.

“I flew there on December 31, 1970, but arrived on New Year’s Day in 1971. It was the coldest place I’d been. Then, for the opening ceremony, I rowed the sampan for the British Prime Minister, [Edward] Heath.”

Tommy is again in shock, his head flicking back, eyes wide open. “I didn’t know that!”

“A lot of people came up to me for autographs,” Susie continues. “What for? I didn’t understand what they wanted.”

BACK IN HONG KONG

In the early 1970s, Sai-lo became a foreman at the Royal Hong Kong Yacht Club before setting up his own family-named repair service operation onsite in 1977 with Susie, who has helped manage the operation for over four decades, although she has recently handed most responsibility to Tommy’s second-eldest brother.

Tommy Ho (middle) with his brothers on the family boat in Causeway Bay Typhoon Shelter

In 1983, Sai-lo left the new family business to join the new Club Marina Cove, which Henderson Land had developed from a fishing farm into a marina and residences. In fact, Sai-lo was recruited by Grantham Sharkey, Tommy’s godfather and the former marina manager of Royal Hong Kong Yacht Club, who was hired by Marina Cove.

When Tommy was young, the family spent time living on a junk in the Causeway Bay Typhoon Shelter by Royal Hong Kong Yacht Club and he has fond memories of this period of his life ( featured in COLUMN, Issue 46 ), although there were hardships, such as showering with no hot water.

As a schoolboy, Tommy joined his father at Marina Cove each Sunday, helping yacht owners with their belongings, cleaning yachts and doing other odd jobs.

“I needed to make some pocket money,” says Tommy, who has a younger sister as well as two elder brothers. “I remember owners in those days were very generous. A Coca-Cola was HK$2 and the owners would give me HK$20 tips.”

After finishing his studies, Tommy worked for the local dealer of Musto sailing apparel and also distributed other sailing gear and even jetskis, selling over 100 in a year. However, when the effects of the 1997 Asian financial crisis took effect, he had to close his shop and found himself in debt.

Tommy Ho in the background at June’s Family Days weekend at Marina Cove, co-organised by Ferretti Group and Voyager

Tommy started working at the Royal Hong Kong Yacht Club,
 where he met Colin Dawson, who thought the youngster’s extensive experience in boating would prove an asset in insurance, so asked him to join him at Heath Lambert.

Tommy’s first day in insurance was September 10, 2001, a day ahead of the infamous 9/11 attacks. Despite the inauspicious start, he worked at Heath Lambert until 2006 and then spent 12 years at Aon until founding Voyager last year.

THE VOYAGE CONTINUES

With strong financial backing and Tommy’s now 18 years in the industry, Voyager has made strong inroads into the local yacht insurance market in a short time. “I’d say 80 per cent of the boat dealers in Hong Kong are using our services,” he says.

Recent high-profile contracts include those for the first-ever Pershing 140, which could arrive in Hong Kong in September, and Ferretti Group models from Riva, Custom Line and Ferretti Yachts. Others include an Azimut Grande 32 Metri and Sunseekers like the 74 Predator set to arrive in July and 76 Yacht that arrived earlier this year.

Voyager is managing the insurance for the first-ever Pershing 140, coming to Hong Kong

Voyager has also signed an MOU with the Hong Kong Cruise and Yacht Industry Association (HKCYIA) to provide risk-management and insurance consultation services for the upcoming Superyacht Management Services Centre, which is a redevelopment of the Yiu Lian and Euroasia Dockyards in Tsing Yi, and set to open in 2020.

Along with his team’s insurance expertise, Tommy is confident of Voyager’s well-rounded offerings due to his and his family’s vast experience of working on yachts and with the many key suppliers, yacht clubs and marinas in the city.

“This is where we show our expertise. I know whether any repair claim is reasonable or if a supplier is overcharging. I can also call shipyards to prioritise urgent repairs. I’ve even helped prevent yachts from sinking by making phone calls to the right people,” he says.

“I’m also a boat owner, so I know what owners need to look out for and how they think. There’s no other insurance broker with my connections in Hong Kong, plus I also have a good network in China, Taiwan, Philippines and so on.”

In fact, one of Tommy’s next ambitions is to expand Voyager across Asia and the move has already begun with a representative office in Singapore. He’s looking for opportunities to expand in the likes of Taiwan, Philippines and Thailand.

Tommy Ho’s famliarity with so many aspects of the yachting industry is due in large to his parents

Yachting makes up the vast majority of Voyager’s business, so his other ambition is to expand business in non-yachting sectors, which already includes automobiles, art, wine, jewellery, financial, even kidnapping and ransom, and now professional indemnity insurance.

“We know everyone in yachting in Hong Kong, so we can improve here, but not by a great amount. However, we definitely can increase a lot in the other sectors in the coming years.”

Tommy remains upbeat about his city’s own yachting market, which has slowed due to a lack of berths. He believes there’s potential money and interest in growing infrastructure in the city, but that government approval remains an obstacle.

“For one, Discovery Bay is being redeveloped, while I’ve been speaking to some tycoons and they’re interested in investing in and building marinas. They’re even asking where they can buy land
for this, but building a marina needs approval from many different government departments.”

Tommy Ho may be among the most connected people in Hong Kong boating circles, but he’s well aware of who gave him the start in the industry and provided him with the network and support to be one of the region’s rising stars in yacht insurance.

“Tycoons won’t do business with you unless they know you, who you are, like some family history or connections.” And for that, he knows who to thank.

The original article appears in Yacht Style Issue 48. Email [email protected] for print subscription enquiries or subscribe to the Magzter version at: w ww.magzter.com/SG/Lux-Inc-Media/Yacht-Style/Fashion/

Yacht Style 48: The 2019 Charter Issue Out Now!

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Police say Marine with knife tried to rob convenience store on Okinawa

Japanese police suspect a U.S. Marine of attempting to rob this Lawson convenience store in Ginowan, Okinawa, April 18, 2024. (Keishi Koja/Stars and Stripes)

CAMP FOSTER, Okinawa — Japanese police have arrested a U.S. Marine on suspicion of attempted assault and robbery of a convenience store on Okinawa.

Lance Cpl. Andrew Torres, 20, was taken into custody just after 1 a.m. Thursday in the parking lot of a Lawson in the Nodake district of Ginowan city, an Okinawa prefectural police spokesman told Stars and Stripes by phone Thursday.

Torres is assigned to III Marine Logistics Group at Marine Corps Air Station Futenma, a spokesman for the group, Chief Warrant Officer William Faffler, said by email Friday.

Police said a man in black pants and a black hooded sweatshirt carried a knife into the store between 12:53 a.m. and 1:03 a.m., went behind the counter and attempted to open the cash register.

The store clerk, a man in his 20s, was in the back office when, through a security camera, he saw the hooded man at the register, the police spokesman said. The clerk ran from the store and called police from his cellphone.

Police soon arrived and stopped Torres, who was in the parking lot running from the store, the spokesman said.

Torres had no money from the register, and no damages or injuries were reported, the spokesman said. No customers were in the store at the time.

Torres was still being held Friday, the spokesman said.

Some government officials in Japan may speak to media only on condition of anonymity.

Police are investigating a possible connection between this incident and another convenience store robbery in Ginowan on April 3, the spokesman said. In that case, the robber threatened the store clerk with a knife and stole about $840 worth of yen.

“We are fully cooperating with the appropriate authorities for the investigation. Due to this ongoing investigation, no further information is available at this time,” Faffler said.

The police spokesman said Torres’ case would go to prosecutors Friday. Under the Japanese judicial system, prosecutors, not police, decide whether to file charges.

“III Marine Expeditionary Force remains committed to fostering positive relationships with our local community, and the vast majority of Marines and Sailors assigned to III MEF uphold our values of honor and respect in an exemplary manner,” Faffler said. “Those who do not are held accountable.”

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Homeowners Insurance Market Stretched Even Thinner as 2 More Companies Leave California

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Two additional insurance companies are pulling out of California. Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., will not renew their customers’ home insurance policies, the California Department of Insurance confirmed to KQED in an email. The companies will begin mailing customers nonrenewal notices this summer.

Compared with some high-profile departures, these companies are relatively small, together insuring around 12,000 homeowners. “Given the companies’ minimal market share, we do not expect this to affect the California market as consumers have other options,” Jazmín Ortega, deputy press secretary for the state’s insurance department, wrote to KQED.

However, their departure could worsen the insurance availability crisis at a time when more than 90% of companies within the admitted California insurance market are either not offering new property insurance or have heavy restrictions. Even among the companies listed in the California Department of Insurance’s Home Insurance Finder tool , the majority — about 70% — are not currently offering new plans, according to data gathered by the Susman Insurance Agency and shared with KQED.

The companies did not specify their reasons for withdrawal in filings made with the state’s Department of Insurance as opposed to some, like State Farm and Allstate, which have explicitly cited wildfire risk. Both are subsidiaries of Tokio Marine Holdings, Inc., a Japanese company and plan to get out of both the homeowners and personal umbrella insurance markets. The fact that they’re not renewing personal liability insurance may also indicate their interest in leaving California entirely, as opposed to rebalancing their risk exposure before wading back into the market.

“This is bad timing,” broker and insurance expert Karl Susman said. “Because there’s no place for [customers] to go other than the FAIR Plan that is already bloated and overexposed based on what they’re designed for and what they’re financed for.”

The FAIR Plan is California’s insurer of last resort, where customers can buy a policy when no other company will offer coverage. It’s expensive insurance and the policies are generally pretty lousy. Its ranks have also swelled enormously in the last few years.

“The FAIR Plan is getting a thousand applications per 24 hours, which is outrageous to even conceive of,” Susman said.

The FAIR Plan has more than $300 billion of assets they’re insuring, about three times more than it did four years ago . It has a tiny fraction of that saved in the bank, so in the event of a large-scale disaster, it could become insolvent, which would have catastrophic ripple effects .

The timing of the latest insurance company departure is also bad and confusing to some observers because the state is amid a large overhaul of insurance regulations projected to ease conditions for insurance companies. The state’s insurance department is leading the effort and dubbed it the Sustainable Insurance Strategy . The proposed changes, many of which are desired by the insurance industry, are halfway rolled out, with more being announced soon and will go into effect at the end of the year. The next hearing , on April 23, will consider catastrophe modeling.

“We literally are at the tail end of all of this [instability] before the carriers have the ability to underwrite, price, discount, and do all of those things and are able to come back and start competing again,” Susman said.

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California Sees Two More Property Insurers Withdraw From Market

California’s already strained property insurance market is facing a new challenge as two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., plan to withdraw from the wildfire-prone state entirely starting in July.

The two companies, units of Japan-based Tokio Marine Holdings Inc., disclosed their plans in filings submitted to the California Department of Insurance. They said the decision will affect 12,556 policies with premiums of $11.3 million.

The companies didn’t cite a reason for pulling out of the market, but major insurers across California are ending or reducing coverage as the state grapples with risks posed by wildfires and other natural disasters fueled by climate change.

The disclosure of the exit comes just a few weeks after State Farm General Insurance Co. said it will be cutting about 72,000 policies in July, just nine months after announcing it would stop offering new coverage. Several other companies have either paused new policies or will no longer offer new ones, including Allstate Corp., The Hartford, Farmers Insurance and United Services Automobile Association.

To stabilize the market and coax insurers back to California, Insurance Commissioner Ricardo Lara last year announced a new regulatory overhaul to allow insurers to factor future climate risks and reinsurance costs into their pricing. In turn, insurers will be required to offer more coverage in fire-prone areas. Many of the details have yet to be released, and the earliest the plan could go into effect is December.

Tokio Marine America and Trans Pacific didn’t immediately respond to requests for comment.

This comes as California’s property insurer of last resort told lawmakers that it’s financially unprepared to cover the costs of a major catastrophe in the state . The plan now faces $311 billion in potential losses, up from $50 billion six years ago, California FAIR Plan president Victoria Roach said in a state legislative hearing.

The Hartford in January said it will discontinue writing new homeowners policies in California.

Liberty Mutual in July 2023 said it will stop offering its business owner’s policy (BOP) product in wildfire-prone state California. That same month Farmers said it will limit new homeowners insurance policies in California.

Eight of the state’s top 20 wildfires have occurred in the last half-dozen years, burning 8,512 structures, according to the Western Fire Chiefs Association . Those losses do not reflect the destruction from the Camp Fire in 2018, the state’s most destructive and deadliest fire, which destroyed 18,804 structures and cost over $16.5 billion.

A report from Gallagher Re last year shows t he threat of damaging wildfires in conjunction with inflation and pricing challenges has led to a distressed insurance and reinsurance market, particularly in California.

Top photo: Homes in Santa Clarita, California.

Topics California Carriers Property

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Okinawa feels impact of U.S. and Japan military shifts

Anthony Kuhn

Marines of the 12th Marine Littoral Regiment practice with .50-caliber machine guns on a firing range on Okinawa. Anthony Kuhn/NPR hide caption

Marines of the 12th Marine Littoral Regiment practice with .50-caliber machine guns on a firing range on Okinawa.

OKINAWA, Japan — President Biden and visiting Japanese Prime Minister Fumio Kishida will discuss upgrades to the two countries' alliance that are being felt on this island, which hosts some 70% of U.S. military bases in Japan.

The two nations are expected to tighten cooperation between their military command structures, and their defense industries , while regional groupings such as the U.S., Australia and the U.K. are considering sharing new defense technologies with Japan.

Kishida's state visit is the first by a Japanese leader in nine years, and will include an address to a joint session of Congress on Thursday and a trilateral meeting that includes Philippine President Ferdinand Marcos, Jr.

Okinawa, which sits closer to China than to Japan's main islands, is the focus of U.S. and Japanese efforts to beef up defenses in Japan's southwest islands.

Japan has set up missile bases on the main and outlying islands of Okinawa prefecture. And the U.S. established a new unit called the 12th Marine Littoral Regiment , or MLR, here in November of 2023.

12th Marine Littoral: We visit a newly formed U.S. Marine Corps unit based in Japan

Marines from the unit plodded through Okinawa's dense vegetation on a recent land navigation exercise. They plot their course with maps and compasses, honing their navigation skills without GPS devices that could give away their location.

That's because they're within missile range of possible adversaries, such as China.

"We view ourselves already well within the enemy's weapon engagement zone," explains 12th MLR Lt. Col. Dan O'Connell. "The importance of 12th MLR is that we are already here, able to be where we need to be."

The MLRs are designed to be agile and stealthy. They've got fewer marines, tanks, aircraft and artillery, but more missiles.

With the missiles, the Marines can try to control chokepoints between islands that separate China from the wider Pacific. So even as China has deployed missiles to keep adversaries away from its shores, the U.S. may try to use its missiles to hem China in.

Marines of the 12th Marine Littoral Regiment assemble before a land navigation exercise on Okinawa. Anthony Kuhn/NPR hide caption

Marines of the 12th Marine Littoral Regiment assemble before a land navigation exercise on Okinawa.

Plans to reform the Marines over the next decade have met with withering criticism from some U.S. retired generals. They argue that by downsizing, ditching heavy weapons, and focusing on island defense rather than offense, the Marines will no longer be an effective global response force.

They also argue that the Marines are trying to tailor their force to a single theater, the Western Pacific, although Marine leaders insist that the MLRs will work in other environments.

On a remote island, a test of wills between the Philippines and China

Mark Cancian, a senior adviser at the Center for Strategic and International Studies and former Marine colonel, says that some military planners think "we ought to just focus on China and step back from these other global commitments." But, as the war in Ukraine has demonstrated, he argues, "when you look at the real world, that's just not possible."

Others worry that enemy missiles could keep the US from resupplying far-flung Marine units. The Marines say they can share infrastructure and purchase supplies from Japanese self-defense forces or civilians.

But that could mean that "there will be less of a boundary between military and civilian life," says Fumiaki Nozoe, a US-Japan relations expert at Okinawa International University. "And it could lead to an increased burden on Okinawa, in either emergency or training situations," he says.

Even as the U.S. and Japan build up defenses on Okinawa, the island's long-running peace movement has been running into difficulty.

Okinawa's peace movement struggles as military presence on the islands grows

Fewer survivors of the WWII Battle of Okinawa, in which nearly a third of the island's population perished, are around to tell their stories.

Polls show 70% of Okinawans feel their prefecture shoulders an unfair proportion of the burden of hosting U.S. military bases. But the ranks of anti-base protesters are aging and thinning.

"Some young people say that, you know, there is no way to kick all the bases out. This is a discouragement to them. They know it's almost not worthwhile to work on this issue," says 84-year-old activist and protest leader Suzuyo Takazato .

Young Okinawans tend to express less concern about the bases. "Young people don't want to join the movement's sit-ins, but we definitely want to do something for peace," says 26-year-old Nitsuki Karimata , who takes visitors to Okinawan historical sites. "So more people in my generation are engaged in peace studies or peace tourism," she says.

Okinawa was an independent kingdom until Japan annexed it in 1879. The U.S. military occupation of Japan ended in 1952, but Okinawa didn't return to Japanese rule until 1972.

Some Okinawans feel that Japan and the U.S. have colonized and sacrificed them.

"They have used Okinawa as a tool," says Takazato. "So, we don't believe our position [is] always respected equally."

Marines of the 12th Marine Littoral Regiment do land navigation exercises in Okinawa's jungles. Anthony Kuhn/NPR hide caption

Marines of the 12th Marine Littoral Regiment do land navigation exercises in Okinawa's jungles.

Okinawans have consistently elected governors who represent their views on the military base issue, including the current governor, Denny Tamaki .

"My position is that I accept the current Japan-U.S. alliance," Tamaki says in an interview. "But because U.S. military bases are overly concentrated in Okinawa, I have been telling the Japanese government to reduce the excessive burden imposed by these bases."

But Okinawa International University's Fumiaki Nozoe says that Okinawa's governors are in a tough spot, as the prefecture is one of Japan's poorest.

"The governor must conflict with the central government on the issue of U.S. military bases," he argues. "On the other hand, he or she must ask the central government for cooperation on issues of economic development. That's the dilemma."

Chie Kobayashi contributed to this report in Tokyo and Okinawa.

Moscow - Russian Rivers and Waterways Port of Call

Moscow is a wonderful city to visit, and travelers on river ship cruise tours to or from St. Petersburg spend a few days in Moscow . This capital city of Russia was our last port on a river cruise tour, and we had about four days to see most of the highlights. Our first day we did an overview driving tour and rode the subway under the Mockba (Moscow) River to Red Square. The next day we toured the State Armory and the Kremlin.

These photos show some of the other highlights you can see with three or four days in Moscow .

The Northern River Terminal is located on the Moscow Canal in the northwest section of Moscow at the Khimki Reservoir.

Most river cruise ships sailing between Moscow and St. Petersburg use the ship as a hotel while in Moscow. Because of traffic, it's often a long drive into the city, but the sights along the way are interesting, and you only have to unpack once for the river cruise.

View of Downtown Moscow from Sparrow Hills

Sparrow Hills is the best place to get a great panoramic view of Moscow. The Sparrow Hills overlook the Mockba River and are near Moscow State University.

Novodevichy Convent in Moscow

Novodevichy Convent in Moscow was founded in 1524, and was once used as a sort of prison for the unwanted wives and sisters of the Tsars. Peter the Great sent both his first wife and his sister to Novodevichy. Since the convent had such famous nuns, it was very wealthy due to the many donations of the Tsars and their families. At one time in the 1700s, the cloister had over 36,000 serfs working in 36 villages. Novodevichy was ravaged by the French armies in 1812, but the brave nuns saved the buildings by disarming the fuses set to blow them up. The Soviets wanted to make the convent into a museum in the early 1920s, but it was again saved.

Novodevichy also has a cemetery with the graves of many famous Russians, including Nikita Khrushchev, Anton Chekhov, Raisa Gorbachev, and Yuri Nikulin.

View of the Mockba River in Moscow, Russia

The Mockba (Moscow) River runs into the Volga via the 79.5 mile long Moscow Canal.

River ships sailing between Moscow and St. Petersburg on the Baltic Waterways embark and disembark at the Northern River Terminal about an hour's drive from the city. The drive time can vary significantly in length because of the heavy Moscow traffic. The river looks peaceful here, as it winds around the cosmopolitan area of Moscow.

Cathedral of Christ the Redeemer (Cathedral of Christ the Savior) in Moscow

The Cathedral of Christ the Redeemer, also known as the Cathedral of Christ the Savior, is the largest church in Russia, holding 10,000 worshipers.

The original Cathedral of Christ the Savior was built over 44 years to celebrate the 1812 victory over Napoleon. It was completed in 1883. Stalin had the church destroyed in 1931, but it was rebuilt using mostly private funds in 1999. The new church is a replica of the original. Note that it took 44 years the first time and only 4 years the second to complete the church! Isn't modern technology impressive.

One interesting tidbit is that it took three attempts to blow up the church in 1931. Stalin planned to build a huge Palace of the Soviets on the cleared land, but engineers determined that the land was too boggy. In the 60 years intervening, the space was used for a variety of things, including a year-round swimming pool!

Vendors' Market and Ski Jump at Sparrow Hills in Moscow

The panoramic view of Moscow from Sparrow Hills is a stopover for most tour groups, so we were not surprised to see a large number of vendors. The ski jump was a surprise, but Moscow gets very cold in winter, so winter sports are very popular. This ski jump is near Moscow State University and has a great view of the city. Seeing this ski jump reminded me of the famous Holmenkollen Ski Jump in Oslo, which also has a great view of that northern capital city.

Russian Soldiers' Memorial in Victory Park in Moscow

Matryoshka dolls for sale in moscow.

I thought this display of dolls was beautiful! The Matryoshka nesting dolls range in price from just a few dollars to thousands of dollars.

Central Museum of Armed Forces in Moscow, Russia

This small band greeted us at the Central Museum of Armed Forces in Moscow. They played a variety of band music and made us all feel very welcome.

Grand Triumphal Arch Celebrates the Victory Over Napoleon in the War of 1812

This arch looks a little like the Arc de Triomphe in Paris, and it is located near the Victory Park Metro Station in Moscow.

This Grand Triumphal Arch is decorated with the coats of arms from the 48 Russian provinces. To celebrate the victory over France in the war of 1812, it also includes bas-reliefs of the "Expulsion of the French." The arch was originally built in 1834, but has only been on this site since 1968.

It is a little ironic that this arch resembles the Paris Arc de Triomphe , which Napoleon built between 1806 and 1836 to celebrate his French victories.

Moscow Metro Station at the Ploshchad Revolyutsii (Revolution Square)

This station near Red Square has many statues honoring the workers of Russia.

Moscow Metro Station near Victory Park

The Metro in Moscow is one of its shining industrial achievements. Construction on the Metro was begun in 1931 and continues today. The system has over 165 stations and 155 miles of track. Over 9300 trains, traveling sometimes as fast as 56 mph, navigate the huge system each day. Almost 10 million people ride the Moscow Metro every day, which is more than the New York and London systems combined. We found the Metro to be very efficient, with trains arriving every few minutes.

Navigating the Metro system can be somewhat of a problem for non-Russian speaking riders. Most of the signage is in Cyrillic only, and the stations are quite large. Trying to find the correct exit while walking long distances underground can be challenging.

On our cruise tour, we rode the Metro as a group with our program director from near Victory Park under the Mockba River to Red Square. Several of the group ventured out on their own during our time in Moscow, and many rode the Metro. They all returned with stories of getting lost underground, but none seemed the worse for the experience, and they all loved telling the tales.

Red Square in Moscow

Red Square in Moscow is a must-see for visitors to the capital city of Russia.

The Kremlin in Moscow, Russia

The Kremlin is a favorite of Moscow tourists. Inside these walls are buildings for the government of Russia, cathedrals, and the wonderful State Armory museum.

Taras Bulba Restaurant in Moscow

We enjoyed a traditional Ukrainian lunch at this cute restaurant in Moscow before checking in at our hotel.

Buses Wait for Passengers Outside Museum

River cruise tour groups are usually divided into groups for the duration of the tour. Each group had their own bus when touring.

Military Airplanes at the Central Museum of Armed Forces in Moscow, Russia

Although much of the military museum was indoors, there was quite a collection of planes, helicopters, missile launchers, and tanks outside.

Foreign Ministry Building, One of Moscow's Seven Stalinist-Gothic Skyscrapers

Seven skyscrapers with layers giving them a "wedding cake" appearance dot the Moscow skyline. The style is considered Stalinist-Gothic.

Russian and American War Veterans at the Central Museum of Armed Forces

Meeting with some World War II Russian War veterans was a highlight of our day at the Central Museum of Armed Forces in Moscow.

Rocket Launchers and Missiles at the Central Museum of Armed Forces in Moscow

The inside of this museum is particularly impressive, but you will need a guide since all of the signage is only in Russian.

Old Arbat Pedestrian Shopping Area in Moscow

We all enjoyed exploring the shops on this mile-long pedestrian shopping area.

Food prices were high in the tourist attraction, with two small pizzas, two small beers, and a bottle of water at an outdoor cafe costing $40. Many of our group ate at the large McDonalds, where prices were more reasonable.

Female Cosmonaut Model at Star City Cosmonaut Training Center near Moscow

Female cosmonauts play an important role in the Russian space program. In 1963, Valentina Tereshkova from Yaroslavl was the first woman in space.

Souvenir Shop in Old Arbat Shopping Area in Moscow

The area of Old Arbat had many English signs to attract the tourist trade.

Centrifuge at Star City Outside Moscow, Russia

This 18 meter centrifuge is the world's largest. The centrifuge weighs over 30000 tons, and the maximum load is 30 G, but most tests are run at 3 or 4 G.

A centrifuge ride is the first test for a cosmonaut, whose entire training school takes from five to eight years. The centrifuge can simulate the extreme force of gravity that cosmonauts (and astronauts) face when going into space. A centrifuge training session lasts about 30 minutes, and the trainee experiences both the centrifugal force as well as the spin of the pod he/she is riding in. Just typing this makes me a little queasy!

Cosmonaut's Bathroom Facilities on First Space Flights at Star City

Just like in the USA, everyone who visits the Star City cosmonaut training center near Moscow wants to know how cosmonauts "go to the bathroom". They have more sophisticated equipment today, but this contraption from the early space flights is fairly self explanatory.

Star City Tank Used for Cosmonaut Weightlessness Training near Moscow

This 12-meter deep pool is used to simulate weightlessness training. The pool is flooded and the cosmonauts perform repair tasks on the model of the International Space Station. SCUBA diving underwater is very similar to the weightless experience the cosmonauts experience when working in outer space.

Mir Space Station Replica at Star City near Moscow

The original Mir disintegrated when it fell to earth in 2001. Mir, which means peace in Russian, was launched in 1986.

Marvel Paull with Statue of Yuri Gagarin at Star City near Moscow

Yuri Gagarin was the first man in space, and the Star City Cosmonaut training center was named after him in 1968.

River Cruise Passengers with Yuri Onufrienko, Russian Cosmonaut at Star City

In case you can't tell, Yuri is the one in the middle. My famous traveling mother, Marvel Paull, is on the left and Dick, a cruise friend is on the right.

A highlight of our day in Star City was a visit with Yuri Onufrienko , a Russian cosmonaut who spent extended time in space at the Mir space station in 1996 and the International Space Station in 2001-2002. Yuri patiently took many questions from our small inquisitive group.

Cosmonaut Space Suit at Star City near Moscow

Cosmonauts sit in this position on take off. Thanks to Jerry G. for the tip about the sign. It says, "Don't touch!"

Stained Glass Window at Star City near Moscow

Program directors at farewell dinner in moscow.

After 16 days of discovery, learning, and fun, we had a farewell dinner with the six Program Directors - Evgeny, Olga, Vladimir, Svetlana, Violetta, and Marina - in Moscow.

The Kremlin is a triangular, walled citadel in the center of Moscow. The Kremlin is considered by most to be the heart of the city. First conceived in the 12th century, the Kremlin (which means fortress) was expanded by Tsar Ivan III (Ivan the Great) during the 15th century. His architects designed the magnificent Cathedral of the Assumption and the Faceted Palace, and the Kremlin was an interesting mix of both Russian and Renaissance styles. During the Soviet time of the 1930s, many of the Kremlin buildings were destroyed or vandalized, and the complex remained closed to the public until 1955.

Today the Kremlin is home to the Russian President and his administration. Many buildings are open to the public, but you may need to be with a guide (check in advance).

I visited the Kremlin when in Moscow on a Russian Waterways cruise tour from St. Petersburg.

The Kremlin was also one of the 21 finalists for the New Seven Wonders of the World.  

Red Square in Moscow, Russia

Red Square's name has nothing to do with Communism or Soviet Russia. The old Russian word for "beautiful" and "red" was the same; the square was supposed to be called "Beautiful Square". Red Square has been the center of Moscow activity since the 16th century when the Tsar cleared the area and allowed vendors, shoppers, and businesses to fill the square. Today this square is surrounded by the Moscow Kremlin, the State Historical Museum, GUM Shopping Mall , and St. Basil's Cathedral .

Many of the important events of the last three hundred years in Russia have been marked by parades or demonstrations in Red Square. Anyone who enters Red Square will have memories from TV or movie reels of this magnificent public square. Those of us who grew up during the Cold War era can remember the parades of soldiers, tanks, and other armaments past Lenin's Tomb just outside the Kremlin Wall. The World War II generation remembers Red Square as the site of a huge victory celebration at the end of the war.

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Russia-related Designations, Updates and Removal; Counter Terrorism Designation Update; Issuance of Russia-related General Licenses

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing Russia-related General License 13G , "Authorizing Certain Administrative Transactions Prohibited by Directive 4 under Executive Order 14024"; Russia-related General License 74 , "Authorizing the Wind Down and Rejection of Transactions Involving East-West United Bank"; Russia-related General License 75 , "Authorizing Certain Transactions Related to Debt or Equity of, or Derivative Contracts Involving, Certain Entities Blocked on November 2, 2023"; and Russia-related General License 76 , "Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on November 2, 2023."

Additionally, OFAC has updated its Specially Designated Nationals and Blocked Persons List:

The following deletions have been made to OFAC's SDN List: 

PUBLIC JOINT STOCK COMPANY ODK SATURN (a.k.a. NPO SATURN JSC; a.k.a. "SATURN NGO"), 163 Lenina Ave, Rybinsk 152903, Russia; Tax ID No. 7610052644 (Russia); Registration Number 1027601106169 (Russia) [RUSSIA-EO14024].  NPO SATURN JSC (a.k.a. PUBLIC JOINT STOCK COMPANY ODK SATURN; a.k.a. "SATURN NGO"), 163 Lenina Ave, Rybinsk 152903, Russia; Tax ID No. 7610052644 (Russia); Registration Number 1027601106169 (Russia) [RUSSIA-EO14024].  "SATURN NGO" (a.k.a. NPO SATURN JSC; a.k.a. PUBLIC JOINT STOCK COMPANY ODK SATURN), 163 Lenina Ave, Rybinsk 152903, Russia; Tax ID No. 7610052644 (Russia); Registration Number 1027601106169 (Russia) [RUSSIA-EO14024]. 

Unrelated Administrative List Updates:

NOLAN (f.k.a. OSLO) Oil Products Tanker Panama flag; Secondary sanctions risk: section 1(b) of Executive Order 13224, as amended by Executive Order 13886; Vessel Registration Identification IMO 9179701; MMSI 354798000 (vessel) [SDGT] (Linked To: PONTUS NAVIGATION CORP.). -to- NOLAN (f.k.a. "OSLO") Oil Products Tanker Panama flag; Secondary sanctions risk: section 1(b) of Executive Order 13224, as amended by Executive Order 13886; Vessel Registration Identification IMO 9179701; MMSI 354798000 (vessel) [SDGT] (Linked To: PONTUS NAVIGATION CORP.).