SafeWaters Underwriting Managers, a specialist in yacht insurance solutions, has announced a new delegated authority underwriting agreement with insurance and financial services firm Nationwide.
Safewaters is a subsidiary of RSG Underwriting Managers, which is itself a unit of international specialty insurer Ryan Specialty Group.
The company provides physical damage coverage and P&I for yachts up to $40 million, with coverage available in all 50 US states.
Under the terms of the underwriting agreement, Safewaters will provide tailor made yacht insurance solutions for Nationwide, with products written on the company paper of National Casualty, a Nationwide company.
“We are very encouraged about our new agreement with Nationwide,” said SafeWaters CEO, Jorge Pecci. “We both place our customers as the focal point with emphasis on providing exceptional products, specialized underwriting and claims services.”
Ray Stahl, SVP and Head of Yachts for SafeWaters, also commented: “We look forward to working with Nationwide to develop additional capabilities for our agents and customers, and continue to provide positive results in a complex market.”
Heather Schenker, VP Nationwide, further stated: “Nationwide is excited to work with SafeWaters Underwriting Managers to provide specialized insurance products to yacht owners.”
“The combination of SafeWaters’ expertise along with Nationwide’s financial strength means customers can feel confident their assets are protected, now and into the future,” Schenker added.
