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A banker wished to charter a yacht for a holiday. ITIC insured the broker acting for the charterer who provided details of a yacht MY PARADISE to them, which had been received from the yacht’s…

In a recent article in a superyacht publication, a lawyer suggested that as yachts were very different to oil tankers, BIMCO Shipman 2009 (Shipman) was not a suitable document to use. This is…

ITIC insured a yacht manager who was replaced by a new manager at the end of an extended winter refit in the South of France. At the end of the refit in December the yacht departed the South of…

The owner required two spinnakers to be taken off the yacht and forwarded for repairs at another port. The agent was asked to arrange temporary storage until the repairs couldbeorganised.The agent…

The charterer needed to land a helicopter on the yacht as part of the filming requirements. Unfortunately, the yacht’s helicopter operations certification was out of date. At the time a compromise…

A yacht broker and manager acted for a client who wanted to purchase a yacht for family use but which he would also be able to charter out commercially. The client became interested in a yacht that…

An owner of a superyacht asked a yacht manager as a favour to recommend a Master for an upcoming charter. The yacht manager hoped to acquire the management of the yacht. No formal contract was in…

Maintaining comprehensive, up to date aircraft records is key to monitoring the aircraft on lease. Accurate records of all maintenance events carried out on the aircraft during the lease tenure allow…

In order to protect their asset, it can sometimes become necessary for an aircraft owner to initiate a recovery plan to get their aircraft back safely into their own custody. Paul Jenkins, Head of…

This edition of The Wire focuses on aircraft lease managers and technical experts.  Professional Indemnity (“PI”) insurance provides cover for aircraft lease managers for claims which are…