https://completemarkets.com/company/sloanmason/Marine-and-Subsea-Equipment-Insurance-Program/
Sloan Mason Insurance is pleased to offer access to a highly competitive Marine and Subsea Equipment Insurance program specifically tailored for owners and operators of specialized marine equipment. Whether your client’s equipment is onboard a vessel, on dry land, or operating over-side, this program is designed to provide comprehensive protection with flexible terms.
Ideal Accounts and Target Equipment
This program is ideal for insureds who own or operate high-value marine and subsea equipment used in industries such as marine construction, offshore energy, oceanographic research, and diving operations. Coverage applies whether the equipment is in use, in transit, or in storage.
Contractors Equipment
Construction Equipment
Oil Field Equipment
Remotely Operated Vehicles (ROVs)
On-vessel Fixed Equipment Not Covered by Hull Insurance (e.g. Cranes, Hyperbaric Chambers)
Oceanographic Survey Equipment (excluding steamer operations)
Trenchers and Ploughs
Dive Bells
Coverage Highlights and Advantages
Key benefits of the program include:
Worldwide comprehensive all-risks coverage for all owned or operated equipment
New-for-old loss settlement for total losses
Flexible underwriting and pricing based on usage and geographic location
Automatic coverage for additional equipment during the policy period (up to 125% of the total sum insured)
24/7 protection while in storage, transit, onboard, or in operation
Free wreck removal coverage up to USD $25,000 per loss and USD $200,000 aggregate annually (marine equipment)
Free loss of revenue coverage following equipment damage or loss: up to USD $300,000 per loss and USD $1,000,000 aggregate (each account separately)
No claims bonus available
Underwriting Requirements and Minimum Premiums
To obtain the best terms and a full underwriting review, the following documentation is required:
Completed and signed ACORD application
Detailed equipment schedule in Excel format
Currently valued loss runs for the past 5 years
Minimum premiums vary depending on the size and nature of the risk.
Territories and Availability
This program is written on a non-admitted basis and is available in all 50 states, including Washington DC. Sloan Mason works with various carriers to deliver specialized solutions nationwide.
Why Work With Sloan Mason Insurance
As a wholesale broker with deep experience in complex and hard-to-place risks, Sloan Mason Insurance offers agents and brokers access to specialized marine insurance programs backed by flexible underwriting and responsive service. Their Marine and Subsea Equipment Insurance Program is built to address the unique risks faced by marine contractors, offshore operators, and subsea service providers.
If you have clients operating ROVs, dive systems, or oceanographic equipment—especially those working internationally or in challenging marine environments—this program is designed to offer the robust coverage they need.
Please view our Marine and Subsea Equipment Insurance Program Data Sheet for more detailed information.
Frequently Asked Questions
What types of accounts are a good fit for this program?This program is well-suited for businesses that own or operate marine and subsea equipment, including contractors, offshore service providers, dive operations, and oceanographic research firms.
Is coverage available for equipment that is not onboard a vessel?Yes, coverage applies whether the equipment is onboard a vessel, over-side, in transit, or in storage on land.
Are additional equipment acquisitions during the policy period covered?Yes, the policy includes automatic coverage for additional equipment up to 125% of the total sum insured during the policy period.
Which states is this program available in?The program is available in all 50 states and Washington DC on a non-admitted basis.
What documents are required to obtain a quote?You’ll need a completed and signed ACORD application, a detailed equipment schedule in Excel format, and currently valued loss runs for the last five years.
Need help placing an account? Connect with a market specialist.
https://completemarkets.com/company/maritimepg/yacht-insurance/
Yacht Insurance
Maritime Program Group's Yacht Insurance programs reach all types and sizes of yachts. Our comprehensive programs, deep coverage areas, and extended navigation solutions are designed for the serious yachtsman. With more than 15,000 yachts protected under MPG programs and 20+ years of underwriting experience, our teams provide practical underwriting and placement solutions for brokers and their clients.
Overview
Maritime Program Group (MPG) is a managing general agency specializing in yacht and recreational marine risks. We provide direct access to admitted and non-admitted capacity through established carrier partners including New Hampshire Insurance Company, AIG, Markel and Osprey. Our Yacht Insurance program is built to handle everything from owner-operated coastal cruisers to multi-million-dollar luxury and mega yachts with complex exposures.
Ideal Accounts and Appetite
MPG is focused on insureds who require specialized marine underwriting and claims service. Typical fits include:
Private yachts and cruisers used for pleasure and private charters (subject to underwriting)
Luxury and mega yachts requiring high-value hull, liability and yacht tender limits
Owners and professional crews looking for robust liability and crew coverage
Yachts with extended navigation needs, higher horsepower, or sophisticated equipment
We are less likely to accept routine commercial fishing operations, unlicensed or undocumented charter vessels with unconventional operations, or heavily modified vessels outside usual recreational configurations — but each risk is considered with an underwriting review.
Coverage Highlights and Advantages
MPG’s yacht programs emphasize broad, market-competitive coverage and service features agents rely on:
Access to admitted and non-admitted placement options in most markets
Hull, machinery, protection & indemnity (P&I), medical payments, crew coverage, and agreed value options
Extended navigation ranges and bespoke endorsements for equipment, tenders, and special exposures
Work directly with in-house underwriters who have trades experience and hands-on knowledge
Policies and endorsements issued directly by MPG with a dedicated in-house claims unit
Instant online access to quotes, commission reports, endorsements and policy reprints
Direct or agency billing with credit card payment options and transparent transaction detail
Industry-specific loss prevention tools and proactive risk-management guidance
Underwriting Notes
Submissions should include a current hull survey or recent condition report, vessel specifics (LOA, year, builder, propulsion), navigation limits, prior loss history, and crew qualifications when applicable. MPG underwriters can advise on acceptable navigation territories and whether admitted or non-admitted placement is appropriate for a particular account. Minimum premium requirements vary by carrier and state — submit the risk for a formal indication.
Territories and Availability
This program is available in the following territories: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. Availability and product form may vary by state and market.
Why Work With Maritime Program Group
As an MGA dedicated to marine risks, MPG offers underwriting continuity, speedy turnaround, and direct access to experienced underwriters who understand yachts and their unique exposures. Our carriers provide strong capacity for high-value yachts while our claims unit and loss prevention resources support both brokers and insureds through placement and post-incident service. For agents looking to place higher-end recreational marine accounts, MPG combines market access with specialty expertise.
Solutions For:
Yacht
Luxury and Mega Yachts
Example accounts you might place: a 60-foot owner-operated cruiser needing extended Caribbean navigation and agreed value hull coverage; or a 120-foot mega yacht requiring high-limit P&I, crew coverage, and specialized equipment endorsements. Submit full details so MPG underwriters can provide the best placement option.
Don't hesitate to call Maritime at (800) 366-8086 for all of your Yacht Insurance needs!
Frequently Asked Questions
What types of yacht accounts are a good fit for MPG’s program?Typically private pleasure yachts, luxury and mega yachts, and owner-operated cruisers that require specialized hull, liability, and crew coverages. MPG will review higher-risk operations case-by-case.
Which states and markets are available?MPG writes in most U.S. states. See the program availability list for specific state participation, and note that admitted vs. non-admitted placement can vary by state and carrier.
What submission information speeds underwriting?Provide vessel specs (LOA, year, builder), propulsion and horsepower, navigation limits, recent hull survey or condition report, prior loss history, and crew qualifications. This allows underwriters to evaluate exposures and offer appropriate endorsements.
How does MPG handle claims and endorsements?MPG maintains a dedicated in-house claims unit and issues policies and endorsements directly, which helps accelerate handling and ensures consistent communication between brokers, underwriters and claims staff.
Need help placing an account? Connect with a market specialist.