CAPE4 YACHTING / JLT INSURANCE SUPERYACHT FACILITY

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1 CAPE4 YACHTING / JLT INSURANCE SUPERYACHT FACILITY

2 CAPE4 YACHTING / JLT SUPERYACHT INSURANCE FACILITY Cape4 and Jardine Lloyd Thompson Limited (JLT) have created a facility to allow owners of Superyachts entry into the Cape4/JLT Superyacht Facility Insurance Programme. The programme has a number of benefits for Cape4 yacht owners: Price Competitive deductible levels Quality of security Breadth of cover A one-stop shop for mainly Mediterranean based yacht owners Acceptance of Yachts valued from US$ 2m to US$ 55m Quality of account servicing and advice High quality claim handling ability Around the clock access to specialist claims advice and assistance A partnership approach to business. The key benefit for yacht owners is price. The collective bargaining power and premium spend means that Cape4 and JLT have been able to negotiate some of the most competitive rates in the Mediterranean area today. The Cape4/JLT Superyacht facility is aimed at providing insurance for owners of Superyachts with values between US$ 2m to US$ 55m. 2 3

3 CAPE4 YACHTING JARDINE LLOYD THOMPSON LIMITED Cape4 Yachting SA is a specialist yacht consultancy company offering professional advice and support to astute owners worldwide, for matters concerning the efficient operation of their yacht. Cape4 acts as the panacea for yacht owners, handling all matters of yacht management, affording Superyacht owners more time to simply enjoy their investment. Cape4 provide the following services for yacht owners: In effect, Cape4 provide a full management package for those owners or a selection of these services can be provided. Insurance alone can be purchased if other aspects of the yacht management is handled elsewhere. With offices currently located in Zurich and Athens, Cape4 Yachting provides personal service of the highest standards to more than 600 yachts within the Mediterranean. Cape4 Yachting is a licensed Insurance Broker, operating under strict quality standards. Cape4 has one of the most competitive and professional teams of yacht insurance experts, each of whom has a JLT provide Insurance placing support to Cape4 Yachting in respect of Cape4/JLT Superyacht facility. Jardine Lloyd Thompson Limited is a specialist insurance broker with distinctive risk consulting, captive management and alternative risk transfer services. Our services are primarily designed to meet the needs of large and international companies and those requiring complex solutions. Jardine Lloyd Thompson Limited s clients, who include many of the world s leading names, are attracted by the knowledge and experience of distinctive industry, Insurance and Strength in numbers JLT are one of the world's leading Marine Insurance brokers and currently handle US$ 250m of Marine Hull premiums. 13 of the top 20 companies in the FT Europe 500 list choose Jardine Lloyd Thompson Limited JLT handle insurance for over 4,500 vessels. Our clients include 35 of the FT Global 100 JLT has a Marine team of circa 60 personnel to handle one of the world's largest Marine Insurance portfolios. Sale and Purchase Chartering Technical management Newbuild supervision Newbuild design and architecture Technical management minimum of 10 years experience in placing the insurances and managing claims for some of the largest yachts in the Mediterranean. Cape4's insurance team ensures that all claims are handled with the utmost efficiency from the very moment that an incident occurs until final settlement. Cape4's team are available around the clock for claims issues. Consultancy Practices, as well as our exceptional service delivery. Jardine Lloyd Thompson Limited is part of the Jardine Lloyd Thompson Group of Companies, one of the world s leading risk management advisers, insurance and reinsurance brokers and providers of employee benefit administration services and related consultancy advice. Through subsidiaries and affiliated companies, JLT operates in more than 30 countries and JLT s Marine claims department work close to the market, along side our client-facing broking teams in London and handle in excess of 1400 claims per annum. Through this joined up approach they have established a world-class record for getting results and resolving long-running, complex claims. Crew management employs over 5,000 staff. Jardine Lloyd Thompson Group plc Security is quoted on the London Stock Exchange and is the largest European-headquartered company providing these services. Insurance 4 5

4 SUPERYACHT FACILITY (PHYSICAL LOSS AND DAMAGE) Cape4 and JLT have jointly developed the Superyacht Insurance facility. It provides Cape4's distinguished yacht owners with an alternative and more competitive method of insuring compared to accessing the traditional Yacht Insurance market. Insuring as part of the Cape4/JLT Superyacht fleet provides economies of scale and bulk buying benefits that make insurance costs more competitive than would be the case in the event of a single yacht insurance placement. Cape4and JLT will carefully select owners for this scheme as good underwriting results are important to maintain provision of the competitive rating levels given. Yacht Hull and Machinery The Hull cover includes coverage against Marine perils per Institute Yacht Form for : Total Loss of the yacht Liability arising from use of watersport equipment to US$ 2m Yacht War Risk Insurances The Hull cover also includes War and Terrorism coverage, which is essential to fully protect the owners' assets. This cover provides insurance against war, civil war, rebellion or insurrection, capture seizure, arrest or detention, derelict weapons of war, terrorism, confiscation or expropriation. Crew Medical Crew medical expenses to US$ 25,000 is covered within the Superyacht wording. It is important to note that the demand for crew is increasing each year as the number of yacht new buildings increase. Providing the crew with additional benefits / support / better overall package, helps to increase crew productivity and loyalty. Protection & Indemnity Insurance requires that there is an underlying medical insurance. Partial damage to the yacht Damage to the engines or machinery Damage to the bridge equipment Damage to fixtures and fittings Loss of or damage to tender or machinery breakdown Damage to watersport equipment 6 7

5 PROTECTION AND INDEMNITY (P&I) P&I covers an owner's potential third party liability exposures. Traditionally, Superyacht owners have included Third Party Liabilities cover as part of their Hull & Machinery placement. With changes in legislation, increased legal expenses and an increase in the value of liability claims, the exposure of yacht owners and operators to Third Party Liabilities has increased at a rate that far exceeds inflation. The P&I market has traditionally provided insurance for shipowners of commercial vessels but it has been recognised that owners of yachts can also incur large third party liabilities. Cape4 and JLT believe that having these risks covered in the specialist P&I Insurance market would better protect Super yacht owners. P&I cover can be tailored to meet the needs of the individual yacht owner and the major areas of cover are: Collision liabilities Liabilities to guests and passengers (injury or death) Liabilities to crew (including illness, injury, death and repatriation) Wreck removal Legal defence costs (if FD&D purchased) Limit of coverage US$ 500,000,000 each accident or occurrence or as agreed JLT have one of the largest teams of P&I specialists in the London market and work closely with all providers of P&I insurance to ensure we offer our clients the coverage they require on a cost effective basis. Yacht P&I is a specialist area and together with the leading P&I underwriters we have developed a bespoke cover which is available to our yacht clients. These underwriters have teams of specialist claims handlers who are on available around the clock for specialist advice and assistance to owners with any type of P&I claim. These claims handlers have access to correspondents, lawyers and surveyors worldwide who can be instructed to assist the owner should a claim arise. They have the experience to ensure claims are dealt with quickly and efficiently and with the minimum of disruption to the yachts schedule. In addition the underwriters can provide confirmations of cover in Greek, Italian and Spanish as required. Liabilities to third parties on board. Pollution liability 8 9

6 OTHER TYPES OF INSURANCE TO CONSIDER CONTACT US Crew Medical / Personal Accident The Hull policy includes basic medical expense cover to satisfy the requirements of P&I insurers. The P&I policy will cover medical expenses and liabilities for death and injury to the extent of the owner's legal liability. If a yacht owner wants to provide his crew with additional coverage over and above his legal liability then this will be an additional benefit e.g. US$ xxxx for loss of a finger. This sometimes helps to act as a cushion for the P&I insurers but more importantly provides pre-agreed financial reimbursement to crew without them having to resort to appointment of lawyers. This can then be incorporated as a pre-set employment benefit within the crew contract. Building Risk Insurance (for new building yachts) The yard building the yacht will usually provide this. If the owner decides to control the building risk insurance, then Cape4 and JLT can assist in providing cover against physical loss or damage to the vessel prior to delivery. This insurance will also cover: Pollution Liabilities to third parties Legal defence costs Loss of charter income insurance If the Superyacht is to be chartered out then owners can protect against loss of charter income - Business Interruption Insurance. Cape4 Yachting Tel Stefanos Macrymichalos sjm@cape4yachting.com Aliki Merianou am@cape4yachting.com Jardine Lloyd Thompson Limited Tel : Ralph Godwin ralph_godwin@jltgroup.com Richard Jordan Richard_jordan@jltgroup.com

7 Lloyd s Broker. A member of the Jardine Lloyd Thompson Group. A company incorporated with liability limited by shares. Authorised and regulated by the Financial Services Authority. Registered Office: 6 Crutched Friars, London EC3N 2PH. Registered in England No VAT No Tel: Fax: Month