Insurance Solutions For Professional Sailors: A Case Study In America’s Cup

Insurance Solutions For Professional Sailors: A Case Study In America’s Cup

We’d like to share a unique and fun case study of a professional sailing team which highlights some of the unusual protection we can help you provide to your clients.

Client:

Owner of an international professional sailing team, racing in the America’s Cup.

Situation:

The racing team, consisting of 12 sailors and 18 support crew members, was gearing up to participate in the upcoming America’s Cup, the prestigious match races between two sailing yachts.

Assessment:

With the average team spending over $100 million on the competition, the team owner needed to protect the sailors and supporting crew members in case of death or disability caused by an accident of any one member on the team.  The biggest challenge in this case was protecting the risk that comes with competitive ocean sailing.

Solution:

A plan was designed for custom accidental death with an accident only permanent total disability solution for the racing team for a 12-month period.  The coverage ranged from $250,000 for crew members and up to $2,600,000 for sailors with a $20,000,000 cap of coverage.

Result:

The accidental death with an accident only PTD coverage gave the owner and team peace of mind knowing that during the period of training, trials and throughout the race they would be covered should the unthinkable happen to anyone on the team.  The premium for this case was roughly $75,000 plus taxes and fees.

Contact your Disability Insurance Specialist for more information.