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 II)
So just who is Pantaenius, then? (Part II)

John Curnow ©

In Part I, we got to discover that whilst Pantaenius is very old, he is not actually the fourth Musketeer or an ancient Greek philosopher. In fact, he is probably an it, or really a they when you come to think of it, and they are Europe’s largest marine insurer.

With a huge, global following of over 70,000 policy holders and some very unique and great cover options, the Australian market is now set for wonderful new choices when you have to seek cover for your water born assets. Whether sail or power, large or small, recreational or commercial, James MacPhail and the team at Pantaenius are there for you, the Australian mariner.

Shortly, we’ll hear what James has to say about his background in the business and appointment as the CEO of Pantaenius Australia. Prior to that, let’s just do a quick review from Part I of some of the highlights from the suite of products. Now having said all of that, please always remember to thoroughly read, evaluate and understand all the material relating to your policy, just as you would with any financial services product.

• An agreed, fixed value that does not become a current market value.
• No deductions deducted from your payout in many cases.
• No limit to the salvage cost.
• Extensive cover over many types of incident.
• You can select new for old replacement on parts of your vessel.
• Transport and storage within your designated cruising area is included.
• So too, normal wear and tear.
• And natural disasters.
• Unpaid crew and guests are covered for injury and claims against either an uninsured third party or even yourself!
• You, personally, are covered as Skipper if borrowing or chartering a vessel in another country.
• A specified limit of AU$150,000 is available, should your vessel be impounded by overseas authorities.
• You are covered for the costs associated with an unintentional activation of your safety systems.
• You get some regatta coverage included as standard.
• The scope of your liability cover extends to injury, death, financial loss and property damage to third parties.

JamesMacPhail Managing Director of Pantaenius -  Pantaenius   Click Here to view large photo
Let’s get straight in to with James MacPhail then, as he explains why Pantaenius is such a large entity. ‘The company started out and is still based in Hamburg, Germany, which has an immense seafaring and shipping history. From there, Pantaenius expanded into the UK and all of Europe, and around 10 years ago, into the USA, as well.’

‘Australia and the Western Pacific was the last region to be added, which means Pantaenius can offer a truly worldwide service to all of our blue water cruisers and superyacht owners. Pantaenius is one of the top three, production pleasure boat insurers in Europe and one of the world’s largest when it comes to superyachts.’

‘Nearly every Australian who goes off cruising worldwide, or buys a boat in the States or Europe to sail them around and then bring them back, has Pantaenius insurance.’

‘We are one of the few companies that can offer a single policy, which then allows someone to cross multiple jurisdictions. Instead of working with a single underwriter, we work with pools of underwriters. They are licensed and able to work in different jurisdictions independently, which then allows us to tie a single policy together and thereby cover someone on a worldwide cruising basis’, explained James.

Incidentally, for the reasons outlined above and because some overseas people choose to keep their boats here in Australia, the office already has a client roll to service, literally from the moment the office door opened.

Now of course, that was not the only reason Pantaenius set up shop on our shores. Growing the business was a key element to it, as well. ‘In terms of differentiation, we are able to insure people who want to take their boats outside territorial waters and we can insure people that want to do things that other insurance companies can’t, won’t or are uninterested in insuring’, said James.

‘Within our policies, we offer a whole range of different features that some of our competitors either don’t offer or certainly don’t promote. Things like agreed fixed value, which we actually offer as standard.’

‘In terms of excesses, we provide a no excess clause on a range of different losses, including total loss. For example, when someone loses their boat under accidental circumstances, then they won’t be contributing to an excess.’

‘Consequential loss or damage is quite possibly the biggest feature to mention, however. This is where damage occurs as a result of something failing due to wear and tear or outright malfunction. We don’t cover the part per se, but we do cover the resulting damage, which can be very extensive. It’s called consequential loss and a lot of our competitors do not cover it at all.’

‘This is pretty unique inside the insurance industry, I can tell you.’

Now for yachties, this is really important if the rig were to come down, for instance. You know the boat will be back in working order, as quickly as can be expedited. However, it’s not all about yachts. Think about the legs of the sterndrives or the shafts, skegs, cutlass bearings and props that make your powered vessel go.

So not only are there some unique features in the Pantaenius offering, there are some decidedly unparalleled ways they go about the business of marine insurance, too.

‘We actually manage our own claims, in-house. Where required, we will use the services of marine surveyors and loss assessors, but we don’t appoint them and they are not appointed on behalf of our underwriters or the insurance companies, either. They produce an independent report for us.’

‘In a lot of cases, where it’s a fairly standard loss or pretty basic claim and all parties are comfortable that the resolution makes sense, we are the ones that write the cheque to the customer.’

‘Where there is no compliance for us to engage an external specialist or involve any other third party, we are authorised and appointed by the insurance companies to process the claim and that is a unique and incomparable structure inside the whole Australian insurance industry.’

Of course, the major benefit to you, the policyholder, is that this allows Pantaenius to process claims both significantly faster and more efficiently. You also get to deal with just the one person and not some new party brought in for just this particular time.

‘We hear gripes every day, where claims are being held up with red tape inside the insurance companies. You find yourself dealing with one person and then five months later they have disappeared and you have got to explain the claim and argue the point with a new employee of some insurance company who really doesn’t understand anything about marine insurance.’

‘It can become really cumbersome and desperately time consuming. I know of a number of claims that are well outside of 12 months since occurring, where the owners are more than keen to get a resolution. This is not something that happens with us. Our settlement record worldwide is normally within 45 through 60 days’, James pointed out.

So if going to sea is all about choosing a good skipper, with a well prepared boat and competent crew, then you’d have to say the same needs to be said about selecting an insurer. Bring on a brief history of James himself, then.
‘Primarily, this is a great role for me, because I have got a really strong relationship base, born out of an extensive marine industry background. There are friends and people I know all around our great country, that I have either been yacht racing with, worked alongside in the industry, sold boats to or been co-located at various marinas.’

‘As a sailor, I have a fair handle on where all the rocks are in Australia. I have navigated my way to pretty much all of them and know what it costs to fix the consequential damage of incidences with those rocks’, said James with a distinctly wry smile.

‘Additionally, I have had both project management and hands-on building involvement with vessels ranging from Etchells to IMS and IRC ocean racers. So construction methods, techniques and acceptable building standards are part of my general knowledge base. When working with customers and claims alike, I have more than a good understanding of what is required to get a solution.’

‘We won’t be putting prices on damages and repairs. That will be done by people who are appointed to quote to repair the project, but I will know instantly whether the quote is realistic or sensible and just as importantly, if it is comprehensive enough to return the boat into its previous condition.’

‘The other thing that helps me with this great role at Pantaenius Australia, is that I have worked in both the powerboat and the yachting industries for the bulk of my career, since 1985. Whilst there are people who have worked in one or the other, very few people have a broad understanding of the entire industry in the way that I do.’

‘In terms of insurance, I have been the owners representative on a number of major claims over the last 30 years. I think it is fair to say that I have got a really strong understanding of how the industry works and what are the customers’ expectations.’

‘The final and linking piece of the picture is that I have been selling marine insurance in Australia for over 30 years. It has afforded me a good understanding of the underwriting, claims and commission aspects of the industry, if nothing else.’

Out of that last comment, particularly, comes the very next question. Just how is James going to direct the team at Pantaenius to build the customer base? ‘There are a reasonable number of marine enthusiasts out there with a requirement that our competitors just don’t want to insure. We’ll work with the media and advertise accordingly, but our real push is with a small nucleus of dealers that are not traditional brokers, but rather, they are involved in all the ancillary and maintenance type operations.’

‘Of course, whilst relationships are going to be a key element of our focus, I really do believe we have a far better mousetrap and our policies will literally do the talking for us. I think you’ll find that the market will have to move towards our style of policy offering. As a result, there will be significant changes in the way the commission structures are paid, just as there have been with the Telcos in the last five or so years.’

‘Yes. We are really looking forward to our first year. The market needs the changes and the customers will love the way in which Pantaenius deals with their claims. We are strong, well credentialed, have a big underwriting pool and a product that is both unique and serves the customer well. It is a good time for us to enter the Australian scene.
In finishing, James commented, ‘I think we are pretty price effective to, you know. We have a 50-foot racing yacht coming to Australia, which we have covered for the sum of $750,000. The premium is $7,500 and that includes doing the Sydney Hobart Race!’

So if price shopping your bank for the best interest rate is now the done thing, then it may also well be time to do exactly the same with your marine insurance. To reach Pantaenius Australia and ask for your quote, call 02 9936 1670, email info(at)pantaenius.com.au or go to the website.

Happy sailing – it is not just days of fair winds, blue skies, moderate seas and fish that are biting. It is very much about peace of mind for the unexpected and that’s exactly what tends to happen around boats!

Sportsfishermen bunker and replenish in Cooktown before heading to Lizard Island for the tournament. -  John Curnow ©  

New Beneteau Oceanis 45 slides along the glorious and stunning Pittwater, just North of Sydney. -  John Curnow ©  

Prawn trawlers in one of the many rivers of Northern NSW. -  John Curnow ©  

The Farr52, Goldfinger, marches towards Port Phillip Heads and Bass Strait, immediately thereafter. -  John Curnow ©  

We all live in a ........, a ....... etc, etc. -  John Curnow ©  

Cruising catamaran anchored in a secluded bay. Just the ticket! -  John Curnow ©  

Under Capricorn in the middle of The Rip, just outside Melbourne's Port Phillip Heads. -  John Curnow ©  

Marinas everywhere full of all manner of boats, all needing insurance. Call Pantaenius to get yours. -  John Curnow ©  

New Beneteau Oceanis 45 slides along the glorious and stunning Pittwater, just North of Sydney. -  John Curnow ©  


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=103456

1:35 PM Fri 2 Nov 2012GMT


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


Related News Stories:

06 Mar 2014  Pantaenius to sponsor Port Stephens Trophy and Commodores Cup
07 Feb 2014  Pantaenius joins as sponsor for Newport Bermuda Race
29 Jan 2014  Cyclone Warning- Port Douglas to Mackay
06 Jan 2014  Is it WoM or some other virus with Pantaenius Insurance?
21 Dec 2013  Is it WoM or some other virus with Pantaenius Insurance?
10 Jun 2013  Healing powers of sailing - The most important part is the journey
02 Apr 2013  More question and answer time with marine insurance giant, Pantaenius
09 Jan 2013  Marine insurance giant Pantaenius - shaking the Australian market
25 Oct 2012  So just who is Pantaenius, then? (Part I)
22 Oct 2012  PANTAENIUS Sail & Motor Yacht Insurance opens office in Australia




Power Boat News

F1H2O Worlds Grand Prix of Sharjah 2014: The CTIC China Team pilot ran his new Moore boat around the 2.2 kilometer (1.4 mile) five-pin race circuit on the Khaled Lagoon in perfect trim, almost on rails, while eclipsing the 45.12 second 167.55 kph lap sent by his closest competitor for the title Alex Carella of the Qatar Team who had to settle for second. ... [more]  

Fischer Panda introduces new marine generator by John Bell, Southlake, Texas
When space is tight, weight is critical and noise is an issue, Fischer Panda continues to fine tune its diesel generator series to provide professional sailors and powerboaters with a great fit,' said Chad Godwin, Fischer Panda’s US Sales and Marketing Director. ... [more]  

The founder of a powerboat racing business is looking to use the cloud to track the company boat's performance during offshore races and keep fans and racing officials updated with animated race visualizations. ... [more]  

The Lakefest Aquatic Week on beautiful Lake Macquarie – just south of Newcastle – is set to become a reality with a number of events confirmed to occur during the February 20-27 week long celebration. ... [more]  

In 2013, over 955,000 boats changed hands on the pre-owned boat market. That meant for a nearly a million boat buyers, hiring an accredited marine surveyor to inspect their potential dreamboat was often the first step after finding it. ... [more]  

Marine Auctions is proud to announce that they will be pioneering their 2015 auctions with live internet online bidding from around the world. This is a huge step for Marine Auctions who have cemented themselves at the forefront within the industry. ... [more]  

In a world first study researchers have found a coral-eating fish that disguises its smell to hide from predators. 'For many animals vision is less important than their sense of smell,' says study lead author Dr Rohan Brooker from the ARC Centre of Excellence for Coral Reef Studies (Coral CoE) at James Cook University. ... [more]  

2014 UIM Skydive Dubai XCAT World Series - Emirates Airline XCAT GP photos. ... [more]  

The overall Series may have already been secured, and they may have been testing new engines, but the Fazza pair of Arif Al Zaffain and Nadir bin Hendi simply couldn’t resist that top step of the podium at the Emirates Airline XCAT GP this afternoon. ... [more]  

73m superyacht Titania to participate in Asia Superyacht Rendezvous by Asia Superyacht Rendezvous, Phuket, Thailand
The impressive 73m (239.5ft) charter yacht Titania has arrived in Thailand for the winter season and will be participating in the 14th Asia Superyacht Rendezvous from 16 to 18 December 2014. This year the event is being hosted by Kata Rocks, an exclusive boutique resort overlooking the Andaman Sea in one of Phuket’s most stunning bays. ... [more]  

The Italian team of Alfredo Amato and Marco Pennesi raced to the quickest time in the first Official Practice ahead of this weekend’s Emirates Airline XCAT GP. ... [more]  

Racing alongside Salem Al Adidi in boat number seven, Dubai, the pair made up for a disappointing morning session in the race for Emaar Pole Position at the Emirates Airline XCAT GP by speeding ahead of all opposition in this afternoon’s knock-out race. ... [more]  

Keep safe on the water this holiday season by Transport Roads and Maritime Services
School holidays are under way and with only a fortnight to Christmas, Roads and Maritime Services urges boaters to keep safe this summer holiday season. ... [more]  

In the final round of the 2014 UIM Skydive Dubai XCAT World Series - 12 December, Dubai – The Videx team of Alfredo Amato and Marco Pennesi continued their fine form at DIMC as they claimed the fastest time of the morning in the race for Emaar Pole Position. ... [more]  

Fountaine Pajot continues its dominance of the world’s cruising catamaran market with the announcement of a new Flagship model, the Ipanema 58. ... [more]  

Watson’s Marine Centre in conjunction with Yamaha Motor Australia is proud to pioneer the way to safer boating by custom-building the first vessel to the latest National commercial safety regulations, set out by the Australian Marine Safety Authority (AMSA). ... [more]  

After a break of two years, Volpe has decided it’s time to get back out on the water and will team up with Norwegian throttleman Pal Virik Nilsen in Lady Spain for the final round of the UIM Skydive Dubai XCAT World Series, which takes place at DIMC from today (11 December) until Saturday (13 December). ... [more]  

The two boats, numbers 4 and 5, will see four hugely experienced pilots taking to the water for the final round of the 2014 UIM Skydive Dubai XCAT World Series at DIMC from 11-13 December. And expectations are high. Paired together in boat 4 are Ahmed Al-Hameli and Scott Gillman while teaming up in boat 5 are another talented pair in Rashid al Tayer and Faleh al Mansoori. ... [more]  

Action Sports Games: The world’s best water sports athletes will be competing at the International Waterski and Wakeboard Federation (IWWF) World Cup Tour on the pristine Mandurah waterways, including current world champion Australian Harley Clifford and Japanese superstar Shota Tezuka on wakeboards, and American waterski champion Freddy Krueger. ... [more]  

Sun shines on Asia Superyacht Rendezvous by Event Media, Phuket, Thailand
The Asia Superyacht Rendezvous will be celebrating its 14th year this December 16-18, showcasing many beauties of the sea, together with some of the best delights that Phuket has to offer. Among the eclectic fleet that will be anchored below the beautiful Kata Rocks Resort will be boats with very diverse heritage and stories. ... [more]  

Yamaha Motor has announced the release of the new F130A. This model was unveiled overnight at the Paris Boat Show. The new F130A fills the only remaining gap in Yamaha’s four-stroke engine range and is especially exciting for Australian customers who have been requesting a Yamaha four-stroke engine in this horsepower category for many years. ... [more]  

Sail-World is now live testing the changed website format. If you are using this format for the first time, please scroll to the bottom of the site and check that your region is set for your region and not some other. It can be correctly set up using the drop down boxes. Then go to the top, click refresh, and you should be away. ... [more]  

The £2.9 million round the world record bid hopes to shave up to seven days off the current record of 60 days 23 hours 49 minutes, held by New Zealander Pete Bethune. It is lead is by British power boating legend Alan Priddy, in a new ‘torpedo’ boat that will pierce the waves, rather than surfing them. ... [more]  

Nicolini and his driver in the boat, Six, Tomaso Polli are relishing the prospect of once again taking to the water at DIMC for the final round of the 2014 UIM Skydive Dubai XCAT World Powerboating Series, starting this Thursday. 'Dubai for me is my home race. I have lived in Dubai from many years and I have raced in Dubai since 1992,' explained Nicolini. ... [more]  

Marine Auctions will be wrapping up its 2014 auction year at Runaway Bay Marina this Saturday the 13th of December 2014. For your last chance to sail away on a beaut vessel, join us at 10am at Runaway Bay Marina 247 Bayview Street, Runaway Bay, Gold Coast Qld. ... [more]  

After farming in Victoria and the Riverina for 20 years Bill Fankhauser and his family decided it was time for a 'sea change' so they sold the family farm and moved to the Gold Coast where in 1983 Bill started a boat sales and repair business called Boatarama at Labrador. ... [more]  

At the 2014 UIM Skydive Dubai XCAT World Series, despite completely dominating proceedings by winning every race so far, the Fazza team of Arif Al Zaffain and Nadir bin Hendi believe there is still room for improvement. ... [more]  

In the 2014 Class 1 World Powerboat Championship Arif Al Zaffain and Nadir Bin Hendi delivered another racing master class to win race two of the Grand Prix of Abu Dhabi and claim Victory Team’s 14th World title. ... [more]  

This summer families are invited to spend the day having an undersea adventure at the Australian National Maritime Museum as it presents a range of activities for children inspired by its brand new exhibition Voyage to the Deep: Underwater Adventures. Have fun making undersea craft, take part in short film making and photography workshops, go on an after-dark tour or enjoy a hilarious theatre show ... [more]  

2014 Class 1 World Powerboat Championship - The climax to the highly successful and competitive first season of the ‘new look’ ClassOne World Powerboat Championship combining C1 catamarans and V1 monohulls will decide the outcome of World titles in both categories. ... [more]  

The new model release makes FlexidockTM stronger, easier to use, and easier to install. Lead times have long been a FlexidockTM issue and when Flexitank first began manufacturing system, Flexitank designed it to suit every individual boat. ... [more]  

Every year, thousands of people suffer from CFP, a poisoning syndrome caused by eating toxic reef fish. CFP symptoms are both gastrointestinal and neurological, bringing on bouts of nausea, vomiting, diarrhea, headaches, muscle aches, and in some cases, the reversal of hot and cold sensations. Some neurological symptoms can persist for days to months to years after exposure. ... [more]  

Bum breathing icon’s future in doubt by James Cook University
The white-throated snapping turtle (Elseya albagula) is notable for a number of reasons including its large size (five kilogram +) and ability to extract oxygen from the water via cloacal respiration ('bum breathing'). JCU’s Jason Schaffer has been studying turtles in Queensland rivers for the last eight years. His focus lately has been on the White-throated turtle. ... [more]  

Three rescued from capsized boat in late night emergency
Silver Yachts at Singapore Yacht Show 2015
RYA Regional Youth Champion Award 2014 - Make your nomination
Busy first day at 2014 Ocean Marina Pattaya Boat Show
Paul Morgan steps in to support Australian 4x4 and marine industries
Win $5000 Cash to Splash with Club Marine
UIM Skydive Dubai 2014: XCATs back on the prowl in Dubai this December
FLIBS-Editors Choice Awards: MCY86 is the best motor yacht of the year
New exhibition takes kids on a Voyage to the Deep
PredictWind launches new Offshore Application for Mac and PC
FLIR M625 Review – Let there be light!
Thieves wreck Marine Rescue volunteers’ fundraising drive
Results in from ‘Operation Go Easy on the Alcohol’
Kamila Czartolomna presented with brand new powerboat
Tips on boating with dogs
2014 Oceania Marine Technician Grand Prix
2014 Barrie Beehag Ski Race - Line honours to Hellrazor
Auction to be held at Runaway Bay Marina
Garmin introduces new xHD2 Open-Array Radar Series
New transducer line from Garmin boasts scanning sonar
Partnership to encourage lifejacket use   
Arvor reveals new diesel range   
Garmin introduces new scanning sonar black box   
Fort Lauderdale International Boat Show - Huge success for Maritimo   
Ferretti Group opens its first flagship showroom in Shanghai   
Yamaha announces the end of V4 Saltwater Series 115C and 130B   
GC Marine Expo - Winner Mark is Rib-Ready thanks to Sirocco score   
Review of boat driver licensing in NSW   
Singapore yacht associations to merge   
SBI Key West World Championships - Multiple champions crowned   
Changed boating conditions for power boat races on Lake Albert   
2014 Ted Hurley Memorial Classic to kick off on the Murray   
Yanmar Joystick Control makes boating easier   
Malaysia becoming preferred destination for yachting tourism   
Indonesian Govt eases yacht permits to boost ‘marine tourism’   
Tahitian ‘Art of Dancing’ & Superyachts   
Gamma Yachts delivers Gamma 20 to opera singer Andrea Bocelli   
Boab Boats RIB Challenge at Mandurah Boat Show   
2014 Goodwill Cup - Southport Yacht Club wins   
North Shannon win ISA National Powerboat Championship   


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