The Hurricane Haulout endorsement allows customers who act to protect their vessels, within 24 hours of a hurricane watch or warning for the area where their vessels are located, to be compensated for covered expenses. As a result of the unprecedented series of hurricanes that have affected Florida, INAMAR has decided to waive the 24-hour requirement in acknowledgement that the circumstances of these multiple storms necessitated advance action to move vessels out of harm's way. Those policyholders who acted to protect their vessels prior to 24 hours before a hurricane watch/warning was issued will be compensated, subject to the remaining policy terms and conditions.
INAMAR will pay 50% of the reasonable expenses customers incur to have their insured vessel hauled Out of the water and subsequently launched in the same general area after the watch or warning has ended; or to hire a qualified individual, someone other than the insured, to navigate the insured vessel to a safe harbor when necessary as a result of a hurricane watch or warning. INAMAR will pay up to $500 for any one hurricane, and up to $1,000 for any one policy period.
"We want to recognize the efforts of our clients who sought to protect their vessels from the unprecedented storm activity Florida has suffered," said Judith Kraft, INAMAR's Vice President of Underwriting.
INAMAR Recreational Marine Insurance is the exclusive source for the marine insurance products of ACE USA, and one of the world's leading providers of marine insurance. INAMAR offers exceptional all-risk insurance coverage for vessels of all sizes - from the smallest to the largest - throughout the United States. Programs are available to protect the entire spectrum of pleasure yachts and boats and marine businesses, including luxury mega-yachts and sailboats, sport fishing boats, ski boats, personal watercraft, high performance vessels, select charter vessels and yacht clubs, marinas, boat dealers and more.
To learn more about INAMAR and obtain valuable information on a wide range of safety and loss prevention topics, please visit www.INAMARmarine.com.
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INAMAR Recreational Marine insurance is a business unit of ACE Select Markets. Insurance policies issued by INAMAR are underwritten by subsidiary insurance companies of ACE USA that are rated A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's.
ACE Select Markets, a division of ACE USA, focuses on the underwriting and marketing of specialty insurance products targeted towards specific insurance buyers, affinity groups, small businesses and niche industries. Products and services are offered through a network of specialty agents as well as unique distribution channels and partners. Products and services include coverage for recreational vehicles, collector automobiles, motorcycles, recreational boats and yachts, the ACE Disaster Mortgage Protection
SM Policy, and credit card enhancement programs.
ACE USA is the U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited (NYSE: ACE), and is rated A (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.