Powerboat-World.com
 
 
News Home Video Gallery Newsletters Features FishingBoating Photo Gallery Sail-World Australia Australian Cruising
MarineBusiness-World
Sail-World.com : So just who is Pantaenius, then? (Part I)
So just who is Pantaenius, then? (Part I)

. ©

So just who is Pantaenius? You may even wonder why you or anyone else should even care, for that matter.

Truth is, Pantaenius is one hundred and thirteen years old with a massive marine following around the globe of over 70,000, built up over the last 40 years. That’s pretty impressive, but there are several reasons and a few distinctions about Pantaenius, which have allowed for such a strong following. This is the important bit, especially if you’re one of those who only pays attention to the words that come after the but…


Pantaenius is Europe’s largest yacht insurance provider and they have just arrived in Australia to provide the same unique offering and dedicated service here, that has allowed them to become a global force in protecting your investment.

Local customer service staff handle all quotes and questions and there is a 24-hour claims helpline for added peace of mind, as well. Terrific. What’s even better, is that claims are also completely sorted in-house by specialists and marine surveyors, individually selected to take their passion for and experience in the marine world, then match it with the skills and training to meet your needs and requirements as an owner.



Often, the press come to seek out the expertise inside the group too and Pantaenius will also assist you with information on things like preventing damage, improving safety, salvage, and proper maintenance. Equally, this kind of service extends around their international network of 35,000 partner organisations – good to know if you’re a long-haul cruiser or racer!

OK. So it all sounds pretty sensational and one should always ask the questions and read the fine print before buying anything, especially financial services products.

However, check some of these features against your existing policy and you may well be asking a lot of questions of Pantaenius, especially, ‘When can I get a quote?’

• An agreed, fixed value that does not get watered down over time to current market value

• No deductions removed from the payout to account for inspections, towing or wreck removal

• No limit to the salvage cost, even if it exceeds the sum insured or does not actually succeed

• You have cover for breakdown, sinking, grounding collision and flooding, even for the vessel’s machinery and underwater equipment.

• You have to select it, but there’s new for old replacement available on claims for parts of the vessel, which would be really handy for things like masts, winches, biminis and the like.

• Transport and storage via land or sea within your designated cruising area is all taken care of.

• Again, you need to check the detail, but normal wear and tear is covered, even all your gear you leave on board, like dinghies, safety equipment, etc!

• Now this is the one I really like and until recently, the term was not even that well known – force majeure. And there is no qualifying statement, just the knowledge that you are covered for natural disasters. That rocks if you’ve lived, race or cruised in this country during the last 20 years, especially.

It seems a somewhat sad state of affairs that in these litigious times, one could get inspired by insurance that offers you protection from liabilities, both here in Australia and elsewhere in the world. Alas, a quick glance through this list could well have you nodding your head in agreement.

• Unpaid crew and guests are covered for injury and claims against either an uninsured third party or even yourself! You also get cover to look after the cost of your defence in an unjustified claim.

• Additionally, your cover as Skipper applies to a borrowed or chartered vessel in another country and your own vessel has a specified limit of AU$150,000 to account for being impounded by overseas authorities.

• Statutory Authorities’ costs associated with an unintentional activation of your safety systems and also water pollution are taken care of.

• You get some regatta coverage included as standard and also your tenders and additional sports equipment fall under the umbrella of your policy, too.

• Just as before, the final item is a classic. The scope of your liability cover extends to injury, death, financial loss and property damage to third parties. Excluding your own self, that pretty much covers the lot, as your vessel will be under your Pantaenius hull policy.

Just like Sam Kekovich, let’s now ask, ‘Who’s in charge, here?’

The newly appointed Managing Director of Pantaenius Australia is James MacPhail. He’s been a passionate racing yachtie for what he’d say is forever and has been selling boats for equally long. He understands the needs of the market place.

‘Pantaenius is known in Australia for Bluewater cruising. Pretty much everybody in Australia who goes cruising worldwide, or buys a boat in the States or Europe and then sails them around before bringing them back to Australia, end up with insurance from Pantaenius.’

James MacPhail - Managing Director of Pantaenius -  Pantaenius   Click Here to view large photo
‘Primarily, this is because we are one of the few companies that can offer a single policy, which allows someone to cross multiple jurisdictions. The reason we can do that, is because instead of working with a single underwriter, we work with pools of underwriters and it is the pools of underwriters that are licensed and able to work in different jurisdictions independently, which then allows us to tie a single policy together.’

‘It is our intention to grow our market here in Australia, by getting our other products out to other types of marine enthusiasts. There are also a large number of Australians that have already got policies with Pantaenius anyway, which are currently being managed by one of the offices overseas, and all those policies will effectively be merged into the Australian entity and then managed and run from here’, James added.

Of the points of differentiation detailed above, James went on to say, ‘Firstly, we are able to insure people who want to take their boats outside territorial waters. We can insure people who want to do things that other insurance companies can’t, won’t or are disinterested in insuring.’

‘Some of our competitors either don’t offer or certainly don’t promote things that Pantaenius can do, such as the agreed fixed value policies, which we offer as standard. In terms of excesses, we provide a no excess clause on a range of different losses, including total loss, so that when someone loses their boat in accidental circumstances, then they wouldn’t be contributing to a payout via forking out their own excess.’

‘Another would be the consequential clause that a lot of insurance companies apply to rig damage for racers and cruisers, where if something fails as a result of wear or tear, or failure of a component or part, a lot of our competitors don’t actually insure that consequential loss.’

‘This is absolutely one of the main reasons why most masts come down and it is a feature of our standard policy. By way of example, if a rigging screw fails because of a fracture or being either poorly installed or maintained, whilst we don’t insure the specific part, which becomes negligible in the final wash up of a major claim, we do insure the consequential loss, which is the cost of the rig and everything else that has been damaged or broken as a result of the failure of that component. This really is pretty unique in the industry.’

By way of further detail, James went on to add, ‘If the boat is new, then we don’t push them to survey the boat aggressively until it gets to five or seven years old or if it is racing yacht that has done miles and miles, then we look for a rig report and surveys. If something is missed and the rig falls down because of a component that failed, whether it is wear and tear or not, we still insure the consequential loss of the rig and that is pretty major.’

‘In terms of the business of actually making a claim, Pantaenius would appear to be quite different. James explains, ‘We don’t need loss assessors because we actually manage our own claims in-house. Sometimes we will use the services of a marine surveyor or loss assessor, but they are appointed just to produce an independent report. In a lot of cases for a fairly standard loss or pretty basic claim, where the customers and ourselves are comfortable that the resolution makes sense and everyone is happy, we actually process the claim in-house.’

‘This is a unique structure in the Australian Insurance Industry. No one else can operate in this way, which is why we process claims significantly faster.’

‘Out in the Australian market place I know of a number of claims that are well outside of 12 months, with owners desperate to get resolution. Conversely, we have got a record around the globe for settling within 45 to 60 days, normally. We are the one point of contact.’

It is that time of year again, when the focus is on the Rolex Sydney Hobart Race and James had this to say, ‘If you have a production cruiser/dedicated racer that is properly built and maintained, then absolutely we will be there to offer you insurance. There are boats that go to Hobart every year that we would consider, as the owners are sensible and well prepared. Absolutely we will be there to insure them or a well prepared new outfit.’

Having asked all of that, it now seems like a particularly good time to go and do your own study, before we come back for Part II of, ‘So just who is Pantaenius, then?’

Now to reach Pantaenius Australia and ask for your quote, call 02 9936 1670, email info@pantaenius.com.au or go to www.pantaenius.com.au


by John Curnow

  

Click on the FB Like link to post this story to your FB wall

http://www.powerboat-world.com/index.cfm?nid=103168

8:18 PM Wed 24 Oct 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.


Related News Stories:

03 Nov 2012  So just who is Pantaenius, then? (Part II)
22 Oct 2012  PANTAENIUS Sail & Motor Yacht Insurance opens office in Australia




Power Boat News

UIM XCAT World Series – Great coverage of the opening round in Fujairah ... [more]  

UIM XCAT World Series – Photo highlights by Karien Jonckheere - thewppa.com
UIM XCAT World Series – Great coverage of the opening round in Fujairah ... [more]  

UIM XCAT World Series – Great coverage of the opening round in Fujairah ... [more]  

Sirocco Marine, exclusive distributor for the BRIG brand of premium RIBS in Australia, recently took to local waters to shoot a lifestyle-themed brochure for its current range. ... [more]  

New WA home for BRIG by Sirocco Marine
South Fremantle is now home to a new BRIG headquarters, the only authorised BRIG agent in Western Australia. ... [more]  

The Governor of NSW David Hurley is to be the patron of the new Rotary NSW Emergency Services Community Awards which will be launched on Wednesday, March 4, at Government House, Sydney ... [more]  

At the UIM XCAT World Series Hollywood could not have scripted a better race when the first round finally got underway in Fujairah this morning. ... [more]  

UIM XCAT World Series – High winds and rough seas by Karien Jonckheere - thewppa.com
UIM XCAT World Series – Due to high winds and rough seas, safety officers, UIM and WPPA officials deemed the conditions in Fujairah unsafe for racing. As a result the Fujairah GP, which was to take place at 3.30pm this afternoon, has been postponed to 11am tomorrow (Saturday) morning. ... [more]  

Changed boating conditions for Jetty Beach at Coffs Harbour by Transport Roads and Maritime Services
Vessel operators are advised changed boating conditions will be in place around Jetty Beach at Coffs Harbour on Saturday 7 and Sunday 8 March for the BCU triathlon swim to take place. ... [more]  

UIM XCAT World Series – In their first ever appearance, Swecat Racing managed to claim a podium spot in today’s Dubai Duty Free Speed Cat Run. They safely negotiated their way through the knockout, head-to-head racing to make it to the final where they came up against formidable opposition in the form of defending Series champions Fazza. ... [more]  

XCAT World Series 2015 – Defending champions Fazza (Arif Al Zaffain and Nadir bin Hendi) will start in the familiar top spot after they recorded the fastest lap in the race for pole position this morning. ... [more]  

UIM XCAT World Series opening round is promising to be a thrilling one if the first Official Practice in Fujairah this afternoon is anything to go by. ... [more]  

XCAT World Series – It’s official. That’s after the final host agreement was signed by HE Dr Saif Al Ketbi (President of the WPPA) and the honourable Mayor of the City of Gold Coast, Tom Tate, in Dubai today in Fujairah this weekend. ... [more]  

XCAT World Series – Having watched the action as spectators in Dubai at the end of 2014, Antony de Fina and Brett Luhrmann are relishing the prospect of getting in the mix as one of four new teams to join the series this weekend. ... [more]  

With shark encounters and bites on the rise, Lindsay Lyon, Shark Advocate and Managing Director of Shark Shield, the world’s only proven shark deterrent technology, provides his tips on preventing a shark attack as the last days of summer roll in. ... [more]  

The National Marine Manufacturers Association (NMMA) and Boating Writers International (BWI) announced today winners of the 2015 Progressive Insurance Miami International Boat Show Innovation Awards, presented during the annual Industry Breakfast at the Miami Beach Convention Center. ... [more]  

UIM XCAT World Series - History will be made in Fujairah next weekend when the World Professional Powerboat Association (WPPA) welcomes the first ever woman driver to the UIM XCAT World Series. The 2015 season will kick off with the opening round in Fujairah from 25 – 27 February with Sweden’s Veronica Olderin behind the wheel of the new Swecat Racing team. ... [more]  

High seas weather warning for Metarea 10 issued by the Australian Bureau of Meteorology Tropical Cyclone Warning Centre Brisbane at 0907 UTC 19 February 2015. Hurricane force wind warning for North Eastern Area. ... [more]  

Pacific Sky Power is launching the Kite Controller, a redesigned reel-bar with a compression winch that maintains equal line lengths throughout the launch and retrieval. For kayaks and canoes, this system enables sailing with a kite. ... [more]  

On a day that a television boating identity advised boaties to ‘give it a miss’, Australian Master Marine seized the opportunity of threatening skies, plenty of wind, swell and whitecaps to conduct sea trials on the first two new boats in its small plate alloy range. ... [more]  

This is an in-water trial set-up, which will involve The Albert Park Yachting and Angling Club (APYAC) assisting Fisheries Victoria and University of Melbourne to load and deploy locally sourced limestone rubble and other materials etc. onto to the seabed ... [more]  

Information provided to the 13 FISH reporting line has led to two men being questioned by Fisheries Victoria for allegedly taking a large numbers of abalone, urchins and periwinkles near Portarlington. ... [more]  

The Maritime Management Centre in NSW is calling on members of the boating public to have their say on a draft paper reviewing lifejacket safety standards in Australia. ... [more]  

For the 2015 Sanctuary Cove International Boat Show some of the marine industry’s biggest names have already signed up. In fact, bookings are on par with this time last year – where 307 exhibitors turned out – which bodes well for another bumper event. ... [more]  

UIM Qatar Cup 2015 - Former British Powerboat Champion Richard Carr has hailed the impact and success of the event following its conclusion on the weekend. ... [more]  

A Sunshine Coast driver has had that horrible sinking feeling after his car went under water at a local boat ramp. ... [more]  

RYA Powerboat Racing Awards on Saturday 07 February marked the annual Ceremony where the crème de la crème of the powerboat racing world come together to celebrate their 2014 season success and get their hands on the coveted trophies. ... [more]  

Today, Ben Ainslie Racing announced a new project with City College Southampton to build two specialised docking ribs. The boats will be built by apprentices trained by the college under the supervision of Darren Patten at the College's Marine Skills Centre. ... [more]  

The Australian Maritime Safety Authority (AMSA) is urging owners of emergency beacons to dispose of their unwanted beacons correctly. ... [more]  

Docking your boat will always be easier with spring lines. But too much tension on a spring could create a hazard for you, your sailing crew or partner. Practice this easy 'springing-under-control' exercise to become master and commander of your small sailboat--wherever you sail or cruise! ... [more]  

Celebrating its 30th anniversary in 2015, Club Marine Magazine is launching its Birthday Bonanza promotion with one great destination package being won each edition of the magazine, beginning with a Fijian fishing experience for its February/March edition. ... [more]  

Boaters are reminded to keep clear of a section of Cudgen Creek next weekend for the safe staging of a triathlon. ... [more]  

The 1991 Allied Leisure Cowes Torquay Cowes race is remembered as the year in which disaster was courted by high technology.The story of the 1991 race is very simple. Twenty-three boats started, twelve retired, two were disqualified for missing marks, nine finished and the cause of offshore sport was set back by about a century. ... [more]  

2015 Club Marine Southern 80 - Action is about to begin
XCAT World Series - Abu Dhabi to host finale
Rarely sighted frilled shark turns up in Victorian waters
RYA Powerboat Racing Awards - Sponsors announced
Inaugural Phuket Yacht Show postponed
Solarshield by Oceanair: Antiglare roller blind for Marine use
Superior SuperElite ends Townsville ramp rage
2014 warmest year since records began + Video
Skydive Dubai XCAT World Series 2015 - Eight stops and four new teams
New Torquay Reef a boost for local jobs and local fishing
Sunstream® introduces Swiftshield™ automatic boat cover
RYA Powerboat Racing Awards Ceremony 2015 - Tickets now on sale
Sea, road and air? Abell Point Marina has you covered
London Boat Show - Come and say hello to Ben Ainslie Racing Team
AMM takes small plate boats upmarket into ‘Sea Class’
Go on a submarine adventure in a special family fun day at the museum
Go on undersea adventure in theatre show at National Maritime Museum
Sail-World.com - Contributors Guidelines *Feature
Marine Rescue Kioloa and Ulladulla vessels investigate flare sighting
AMM takes small plate boats upmarket into 'Sea Class'
Two men and 4-year-old missing on fishing trip off Jervis Bay   
Wish a Marine Rescue NSW volunteer a happy New Year on Sydney Harbour   
Stop thief! Spies nab Spy thieves   
Stop thief! Spies nab Spy thieves   
Torpen International Boats announce launch of Multi23 MKII Trimaran   
Asia Superyacht Rendezvous 2014 - fabulous, darling   
Marine Rescue Batemans Bay brings two home safe on Christmas Eve   
2014 UIM F1 H2O World Championship - Vive La France Chiappe wins   
F1H2O World Championship Grand Prix of Sharjah - Chiappe on pole   
Fischer Panda introduces new marine generator   
Learn to make personal watercraft safety a priority this summer   
Speedboats race with the cloud   
2015 Lakefest Aquatic Week - A week-long celebration of boating   
Seven tips to get more out of a marine survey   
Marine Auctions raises the bar with live internet bidding for auctions   
You are what you eat – if you’re a coral reef fish   
UIM Skydive Dubai XCAT World Series - Emirates Airline XCAT GP images   
Skydive Dubai XCAT World Series - Fazza complete the perfect season   
73m superyacht Titania to participate in Asia Superyacht Rendezvous   
UIM Skydive Dubai XCAT World Series - Videx fastest in first practice   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News





Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png   http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW PBW
LocalAds   DE  ES  FR  IT