Onlyyacht US Marks Insurance Company Expansion

With nearly 400 megayachts insured, Onlyyacht has established its first roots in the United States, as Onlyyacht US.

Onlyyacht has five offices in England and Europe. They range from London to Antibes and Rotterdam. The Onlyyacht US office is located in Fort Lauderdale. Vincent Huens de Brouwer, the executive director of the office, tells the South Florida Business Journal, “The largest yacht show in the world is here. That’s a sign that we’re in the right place.”

Currently, Huens de Brouwer and one other employee are in the Fort Lauderdale office. However, Onlyyacht US plans to add another insurance agent soon. It also has eyes on creating additional locations. In fact, Huens de Brouwer tells the Journal, “Our company has great ambition.”

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To date, Onlyyacht handles insurance for 370 megayachts. The company says that a number of these are among the world’s 100 largest. It sources solutions for both single-yacht owners and owners who have multiple yachts.

The Onlyyacht US office provides the same services stateside as its overseas offices do. These include yacht loss or damage, liability protection, as well as crew and guest welfare. In fact, the company says it provides insurance to 3,000 currently employed crewmembers around the world. The crew policies naturally comply with the requirements of MLC. Some of the provisions are medical expenses coverage, temporary and permanent disability benefits, and repatriation. So, too, are regular medical, dental, and eye expenses.

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If you’re building a yacht, the office can refer you to its overseas colleagues who offer a service called Onlyyard. This covers owners against potential physical damage done to the yacht while in build. (On a side note, the company provides similar coverage to shipyards.) Furthermore, the American office has an Onlyjet specialist, for details about helicopter and aviation insurance.