Changing tack.
Direct writing is starting to creep into the yacht and boat sector at the smaller end of the market. Nevertheless, Andrew Newman says that yacht insurance is good broker business, even though rates are still worryingly low.
The market covering yachts and other pleasure craft is an integralpart of marine insurance, but recent years in the small boat sector have
witnessed marketing changes similar to those taking place in personal
lines. Small craft have become a popular family acquisition, so it is not
surprising to find price sensitivity and direct writing reaching this end
of the market.
While direct selling has made some headway, many believe the market
remains an ideal platform for intermediaries. Chris Knox
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