Burns and Wilcox News

Tag: hull

Commercial Marine Insurance: Comparing Cruise Ships to Local Ferries

The cruise ship industry sees nearly $38 billion in revenue annually around the world, with more than $15 billion invested into new cruise ships. Ferries, cruise ships, and other passenger vessels are a much different exposure than cargo ships that carry dry cargo, not people. Accidents and catastrophic mechanical failures with passenger vessels often result…

Big Fish: Four Boats, Three Ownership Entities, Three Docking Locations

In the high-net-worth stratosphere, owning four autos is not unusual. What is unusual is owning four different types of boats under three different ownership entities (personal, corporate and LLC), docking them in three locations (Florida, Montana and the Bahamas) and flagging them in two different countries (U.S. and the Cayman Islands).