Stuart Davidsen - This Catamaran man

Describe your company.

Davidsen: Ipswich-based Broadblue Catamarans was established in early 2001, but our team has been involved with the design, development and manufacture of catamarans since 1975. Between them, they have contributed to the manufacture of more than 1000 catamarans covering over ten million sea miles. Our boats are mainly designed and engineered for long distance cruising; they perform highly under sail, even when fully loaded; and all models can be sailed short-handed without the need to leave the cockpit. All Broadblue catamarans are safe, strong and capable, and each is hand built for its owner using Lloyd's approved materials. We also have a strong partnership with the manufacturer Mark Elliot Furniture, which produces the furnishings on board all of our catamarans.

Who places insurance at your firm and what kinds do they place?

Davidsen: I do. We place material damage, business interruption, employers' liability, public/products liability (including delivery voyages, products supplied, and trials and demonstrations of customer vessels) and marine hull.

Describe your broker relationship.

Davidsen: We meet at the London Boat Show in January and the Southampton Boat Show in September. It is important to maintain a close relationship with our broker and LFC Insurance provides this by undertaking review visits and keeping in regular contact by telephone and email. This enables us to discuss industry trends, market changes, our business growth, development of new models and any other changes to ensure that scope of policy cover meets our changing needs.

What do you feel about the insurance industry?

Davidsen: Insurance always appears complicated but our broker has helped us to understand our exposures. Working closely with insurers has also been successful by streamlining our requirements into a single policy cover, which was launched in the summer of 2007. Previously, several policies were necessary. Now we benefit from easier administration and those equally important cost savings.

Is there any cover that you would like to have but don't currently?

Davidsen: No, they have met all of our needs and have always responded quickly and efficiently to any queries we may have on our existing cover or additional enquiries.

What is the greatest risk factor facing the catamaran market?

Davidsen: Apart from the dangers of the current economic climate, damage to vessels during construction and when completed, either on moorings or underway, is our greatest concern. Fortunately, we have a lot of experience but we are aware of potential risks.