February

7

2022 World Championships - Geelong, AUSTRALIA

07/02/2022 - 18/02/2022

UKGlobal negotiates improved 2021 renewal terms for the UKFA

The 2021 renewal terms have been negotiated on behalf of the UKFA with the following key points:

  • A reduction in the premium rates by 5%, subject to no claims in the expiring period.
  • Removal of the co-insurance clause. 
  • A standard £250 excess to be applied to all policies.
  • A scale of policy excess reduction will be applied depending on number of years continuous insurance with Haven Knox-Johnston/MS Amlin.  The reductions applicable are as outlined below:

Continuous Years Insured

Policy Excess Reduction

1

10%

2

20%

3

30%

4

40%

5+

50%

  • The No Claims Bonus (NCB) will become protected automatically once 5 years NCB is reached.  NB. It will still be possible to protect the NCB prior to 5 years having been achieved subject to the payment of an additional premium of 5% of the gross premium.
  • A Small Craft Hire benefit is to be added to the policy.  This includes cover for the hire of a vessel for racing use if the insureds’ vessel is damaged and a claim has been made. This would be paid instead of the racing fee i.e. either/or.
  • A multi-craft discount of 10% remains.

If you have any questions, please contact the following at UKGlobal:

Jerry Dungate     [email protected]          01883 333512

Fiona Lavery       [email protected]            01252 734539

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