Sunday, September 12, 2010

$10,000,000


How can a young sailor on his or her own (not living with the 'rents) afford to sail in the upcoming world championships? I know even for me, a fifty something professional, trying to procure a $10 million liability policy would be a challenge. I'm pretty sure it's not something a twenty something sailor in the USA would be able to pick up. What magic in Australia allows such a policy to be written?

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4 comments:

Rob & Christina said...

Last time we went from NZ to race in Perth, Australia we also needed a very high liability insurance.

I am pretty sure it is an Australian Yachting Federation ruling.

We tried to get the insurance via Yachting NZ, but it was pretty expensive after they made their profit...

In the end, our hosts arranged insurance via the Australian Yachting Federation, that was pretty reasonable 75 AUD (69 USD) back in 2003.

All we needed to do was fill in a form, and away we went.

Vicky or Scott may be able to provide some more information?

Rob

Phil Stevenson said...

Australian Liability insurance requirements are a direct result of the 30 year epidemic in legal litigation spreading the world from the US. We all have $M10 cover on our boats cars and houses.

But for the Belmont Moth Worlds the solution is simple. Tick the box on the entry form and add $A90 to your entry payment.

The organisers have arranged an insurance cover for anyone who finds it difficult.

Joe Bousquet said...

I understand. I guess the ironic thing is that hardly anyboby I know has such insurance. I was only with difficulty that I could get a $500,000 liability umbrella on my homeowner's insurance policy.
US Sailing doesn't cover moths in their One Design Program.

scott said...

Tick the box on the entry form an you get the insurance for $90 AUD.

Easy.