Shot of a young businesswoman using a laptop while working in her home officeA new year is upon us, which means that many of you are planning out the year ahead and have a general idea of your goals and targets. But one area you may not have considered thinking about is your insurance. More specifically, how using a broker can help you!

Time and time again, we come across people who have the wrong idea of what an insurance broker is and why they are actually advantageous to the consumer. So, how can using a broker help you have a successful year, you might ask? Simple, we work for you! Think of us as another employee or someone you have contracted to work to get you the best coverage, the best price, and continue to work on your behalf all the way through any potential claims. It is important to take the time to find a quality, reputable broker to work with you in fulfilling your insurance needs. Not only will it be time well spent in the beginning when finding a plan, but it will also serve you well for the entire time that you have private health insurance needs, on a yacht or wherever your travels may take you.

What Does a Broker Actually Do That You Cannot Do Yourselves?

First, they spend all day, every day dealing with insurance. They know the insurance industry, they live and breathe insurance, and they understand all the confusing terminology and phrases, which hopefully they can explain to you in a straightforward, no-nonsense way. They also know the insurers, and the people who work there, which is a significant advantage over you calling a toll-free number and hoping for the best.

Second, insurance brokers evaluate and research the marketplace on a regular basis. A reputable broker knows the dynamics of the insurance industry, what the headlines are, what is no longer relevant, and which carriers provide consistent service. Nothing is more frustrating than finding an insurance plan that fits your needs, only to realize at time of claim that the company does not deliver.

Finally, as stated before, a broker advocates and works on your behalf. When a situation arises where a helping hand is needed, you can turn to your broker for assistance, leaving you to continue to concentrate on your work.

But What About Costs?

Have you ever heard the saying, “brokers make you broker”? That saying could not be further from the truth. In contrast, working with a broker can save clients both time and money, in addition to frustration. Insurance brokers receive their compensation from insurers, but that does not (or should not) cloud the judgment of a good broker to recommend whatever policy is most appropriate to the situation as presented by you, the client. At the end of the day, utilizing an expert for the same price as doing everything yourself can only have a positive impact on your bottom-line.

Brokers Can Offer More of a Selection

One benefit of an insurance broker is the selection of policies and plans. Typically, brokers can help you select insurance from a variety of different companies. Different insurance companies offer different plans, so having access to plans from multiple companies can afford you the opportunity to find the coverage that fits you best and fits your budget best.

Also, depending on the insurance brokerage they may sell different types of insurance, allowing you to have a one stop solution for all your insurance needs.

Brokers Do Much More Than Sell Insurance

While brokers may act as the middleman between you and the insurance company, they can be so much more than that. An insurance broker will conduct research for you, file and assist you with the claims process, and work to get you the best coverage option for your situation. Often times a broker has direct connections with decision makers at the insurance companies so you may not have to sit on a 1-800 line for a long time, only to learn someone doesn’t have the authority to help you. Brokers also know which carriers provide consistent service, allowing you to avoid companies that may not deliver the level of care that you deserve at time of claim.

We Work for You!

As brokers, we do not work for any insurance company, we work for you! Our goals are to please you, and make sure all your questions and concerns are handled. If you think about it, with all the benefits of using an insurance broker, it is certainly better than just going out and buying a policy from an insurance agent. Will an agent fight for you and your best interests?

What sets MHG apart from other brokers?

MHG is one of the leading companies to push for crew benefits across both the yachting and cruise industries. 30 years ago, the marine industry started to boom, and MHG has been there from the beginning championing the wellbeing and livelihoods of crew members around the globe. So really and truly, MHG is more than an insurance broker, we are a wellness company!

With our growth in the industry and MHG becoming more and more diverse, MHG also began to offer other areas of coverage such as travel, travel medical and life.

As you can see, using an insurance broker offers a number of benefits, from saving you time, money, stress, etc., helping you focus on your upcoming year ahead. Are you interested in working with an insurance broker to help you achieve your goals? Contact MHG today! Give us a call at 954-828-1819, or visit mhginsurance.com.

A new year is upon us, which means that many of you are planning out the year ahead and have a general idea of your goals and targets. But one area you may not have considered thinking about is your insurance. More specifically, how using a broker can help you!

picture of yacht crew memberOne trend that comes and goes over the years is insurance companies offering cheap plans to grow their business. However, businesses can’t afford to continue to operate on low (or negative) margins, so the customers are the ones who end up suffering. Low-cost insurance rarely ever means low cost in the long run. It seems to happen more and more, insurance companies offering lower cost insurance, but when customers go to use their benefits, the struggle begins. Insurance is an intangible product, which means one must put trust into it. So, when promises aren’t kept, or proper due diligence isn’t followed, you can see why low-cost insurance is rarely ever low-cost.

Pick Two

Good, quick, and cheap. It’s impossible to have all three. Often, the one that gets sacrificed unknowingly is good, as people value their time and money. Therefore, when it comes to trying to save money on insurance, one can expect to receive delayed quotes, slower service, claims issues, just to name a few. Saving time and money now, very well could cost you a lot of time and money when it comes time to use your policy.

Save Now, Pay Later

Now it’s time to get to the nitty gritty on how a low-cost insurance policy will cost you later. The main reason, those who opt for cheaper insurance end up paying more in the long run because of a lack of coverage that was unknown to them when trying to use their insurance, or even worse, no coverage at all. Picture yourself being involved in an emergency situation that ends up with you being in the hospital requiring medical attention. The last thing you want to worry about in that scenario is being on the hook for the entire hospital bill which could end up being tens of thousands, if not hundreds of thousands of dollars.

David vs. Goliath

“If I don’t receive the benefits that were in writing, I can always hire a lawyer!” While this is true, insurance companies are usually very large, so going toe to toe with one is no easy task if you have a dispute with the plan that you have purchased. Even if the consumer is completely in the right about a particular claim or situation, the costs and time involved can be substantial.

The Benefit of a Broker!

Insurance Brokers often get a bad reputation but using a reputable insurance broker can help you avoid situations like this. For one, the majority of brokers are well-versed with the ins and outs of the insurance industry and can help you avoid a negative trend that you may otherwise know nothing about. Not to mention, brokers work for you! Brokers typically operate at no extra cost to you, just as it would be if you went straight to the insurance company to get your plan. Only with a broker, you have someone else working on your behalf. If you would like to learn more details of using an insurance broker, read our previous blog, “Why You Should Use an Insurance Broker”.

Having proper insurance is important in every aspect of life. Whether you are at sea needing international coverage, looking for proper life insurance coverage, going on a vacation, etc. MHG is your specialized broker. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Low-cost insurance rarely ever means low cost in the long run. Read more!

Luggage at an airportWhat is trip cancellation and interruption insurance?

Trip cancellation and interruption insurance, also known as just trip cancellation insurance, is an insurance policy that protects your investment if your trip is cancelled or interrupted. It is geared toward extravagant and luxury vacations. While trip cancellation includes medical coverage, it differs from travel insurance, which provides international medical insurance coverage for when you are traveling abroad, outside of your home country.

What is the difference between trip cancellation and yacht charter cancellation?

Trip cancellation and interruption insurance, and yacht charter cancellation insurance are the same thing. It just happens to be that yacht charter cancellation insurance is designed to offer coverage for yacht charterers, so the policy will behave the same way as a trip cancellation policy.

What is covered by trip cancellation and interruption insurance?

A good trip cancellation insurance plan should protect you from many issues that may come up causing you to cancel your plans or if your trip is interrupted. Examples of items typically covered by a good trip cancellation insurance policy include:

· Sickness, injury or death of insured, a family member, a travel companion, a business partner, or a child caregiver

· Primary residence or destination being rendered uninhabitable

· Documented theft of passports/visas

· Involved in a merger, job loss or job relocation

· Documented traffic accident

· Inclement weather that causes cessation of services provided by your common carrier

· Mechanical breakdown of the common carrier

· Evacuations due to natural disasters

· Emergency military duty for national disaster

· A terrorist incident

· NOAA hurricane warning at destination

· Court order to appear as a witness

· Jury duty

· Quarantine

· Hijack

Why you need trip cancellation insurance

The cost of vacations is going up, as people continue to plan trips and get out of their routines after being on “lockdown” for the past couple years. In a recent Forbes article, Adobe Analytics was quoted that, “Prices have risen a staggering 47% since January,” in terms of airfare alone. Not only are prices going up due to a number of reasons, but people are also willingly spending more on vacations since they haven’t been able to go anywhere. Which means, potentially more money to lose if something gets in the way of your plans!

Plan for what’s not on the itinerary. Life is unpredictable and plans often change. One of the basic issues that insurance protects us against is the fact that life is unpredictable. So, while you may not be able to prevent a situation from happening, you can prevent an issue from becoming a worst-case scenario. For more information on the different types of coverage that trip cancellation insurance offers, contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.

Trip cancellation and interruption insurance, also known as just trip cancellation insurance, is an insurance policy that protects your investment if your trip is cancelled or interrupted. Read more!

Yachts docked at a marinaMaking a decision on behalf of a group of people can be a difficult task. The pressure of making everyone happy tends to be a challenge no matter what the decision pertains to. So, making a decision for a group when it comes to their healthcare and wellbeing, the stakes get raised. We know how hard the process can be trying to decide a yacht crew insurance plan for an entire group, when each individual has different wants and needs. That is where we excel, using our experience to navigate benefits, budgets, and stress levels. Use the following points when trying to select a yacht crew insurance plan for your group!

Factors to consider include how many crew will be on the plan, as well as the ages of the crew, and what type of policies you are looking for. You should also be considering plan features such as dental and/or disability, as it is difficult to find and keep good crew members! Call us at 954-828-1819 if you have any questions or would like a quote.

Medical/Health Insurance

Medical insurance speaks for itself. Many of us are familiar with it because of the amount of times that we use it. However, there are many different aspects of a plan to consider. What’s the deductible? Is there a co-pay? What about co-insurance? Does it include dental and vision? If you feel overwhelmed, please feel free to contact us for assistance and guidance on what plan would fit your yacht crew best.

Life insurance

While having life insurance is a personal option, there are yachts that include life insurance coverage as part of their benefits package. Offering coverage for your crew may give them some assurance that if anything happens to them while they are at sea, their loved ones will be more able to cope financially back home. Typically, the coverage amount is fixed in increments of $10,000, up to $100,000.

Accidental Death and Dismemberment

Accidental death and dismemberment, also known as AD&D, is very similar to life insurance. The difference is that there is only a benefit from an accidental death, or significant dismembering injury. This type of insurance typically provides coverage 24/7, not just while at work. Generally, the benefit is 3 times the person’s salary.

Personal Accident

Personal accident is a crucial insurance policy for your crew members. Oftentimes referred to as PA cover, personal accident insurance will pay out a sum of money for permanent injury (and sometimes permanent illness). It is often confused with medical insurance, but it doesn’t provide coverage for any medical bills or doctors’ appointments, it simply provides a one-time payment after experiencing a permanent injury.

Disability Insurance

Disability insurance is a great way to offer coverage for your crew in the event they get hurt and can’t work for a short period of time. Having this policy will cover a percentage of the person’s wages if they are unable to perform their occupation and can last for up to two years due to an injury or illness. If the disabling event becomes permanent, the personal accident (if purchased as above) may kick-in and pay a lump sum.

Hospital Indemnity

Hospital indemnity insurance at first glance would make you think that it covers hospital visits, however that is not the case. Think of this type of insurance as a poor man’s disability insurance. Depending on the policy, it provides a benefit each day a crew member is in the hospital. For example, if someone was hurt on the job and had to go to the hospital, the insurance would pay that person $100 per day that they are admitted in the hospital. This doesn’t cover their hospital bills, it just provides the person with an added benefit.

Features That Are Not Features

While the above list is not exhaustive of every option and feature, one thing to note is that some insurance providers tout features that do not hold true. For example, there is no such thing as a Maritime Labour Convention (MLC) compliant yacht crew insurance. It sounds good, but it means nothing. Another thing to be wary of is a plan that says ‘unlimited coverage’. Almost always with international policies, there are restrictions and limitations on the benefits such that the ‘unlimited’ part is actually quite ‘limited’.

Having proper insurance is important whether you are at sea, or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. For more information on preparing to work on a yacht, read our previous blog, “Yacht Crew Insurance Terms 101”.

Use the following points when trying to select a yacht crew insurance plan for your group!

Cruise Crew MembersIf you’re a Crew Member working onboard a cruise ship, we have some important information for you regarding insurance claims. As you know, Crew Insurance is different than your typical health insurance policy, which means there are some points you need to consider and be aware of when it’s time to go use it.

Claim Payments

One of the more common questions we receive is “When should I pay a medical bill and when would a provider bill the insurance company directly?” Generally speaking, all claims incurred outside of the United States will likely require you to pay for the services upfront. In some cases, your provider will have a direct billing agreement in place with your insurance company and will bill them directly, but this is not the norm so it’s best to assume that you will be paying upfront.

That process and expectation is usually different when inside the United States. Typically, in the U.S, you should provide your insurance ID card to your doctor, who will then call your insurance company to verify your benefits and bill the insurance company directly. It is important to note that you may be asked to pay co-pays, deductibles, or items that are not covered at the time of services.

Something to note is a Guarantee of Payment (GOP). A GOP is an option for services provided overseas with international providers. It is requested by the provider to the insurance company. Usually, a GOP is arranged when charges will be high. It is also good to know that it is solely up to your provider to accept a GOP. If you have further questions regarding when a GOP is used, feel free to reach out to us at the contact details below.

Filing a Claim

Filing an insurance claim is necessary if you have paid for services up front that you believe are covered under your policy. Knowing where to go and what is required ensures that the claim will be processed without delays.

Once you are enrolled for coverage, make sure you set up your online account and upload the mobile app if available. That way, when/if you have a claim, simply log into your account, and access the claims section. The process of uploading the claims is usually very straightforward. If you have questions about filing your claim, as your insurance broker, MHG is always here to assist.

Be sure to have an electronic copy of your documents before you get started. This helps streamline the filing process. Include all invoices, itemized bills, and receipts showing proof of payment so that the claims examiner has everything required to process your claim. Once you have filed your claim, it will go directly to your insurance company. You will also be able to view its progress in your personal account. If something is missing, or the claims examiner needs additional clarification, it will be listed in your online personal account.

When Problems Arise

Sometimes, you can take all the right steps, be proactive, and yet there can be an issue. If your claim is not processed and you do not know why, or it is denied and you have a question as to why that happened, it is best to call the insurance company’s service department. That number will always be listed on your ID card. Their customer service department has direct access to the claims system for the insurance company and will be able to see exactly what is needed to finalize the claim. At any point, as your broker, MHG is always here to assist and guide you through any issues or hurdles you may face.

MHG Insurance offers different insurance solutions for many areas of business. Our experience and role in the cruise industry is something that we hold in high regard. Our plans for officers and crew are tailor made to fit the maritime industry. If you have any questions regarding your existing employer group plan, or are interested in purchasing individual marine crew insurance, contact us at mhginsurance.com or call us at +1 954 828 1819 or +44 (0) 1624 678668. Our insurance specialists have the knowledge and experience to assist and guide you to the best coverage for your budget.

If you’re a Crew Member working onboard a cruise ship, we have some important information for you regarding insurance claims.

Young Chinese Navigator Navigating His Ship

Years ago, working on a cruise ship was just for kicks with many of us heading to the high seas to enjoy the experience for a few months or maybe a year at most. Now, crew members choose life at sea as a career choice with goals and aspirations of 5–10-15 years onboard. With this shift in “career” focus, its important for cruise lines and concessionaires to strategically recruit those goal-oriented crew members and work to obtain and maintain their loyalty. The industry is more competitive than ever, so providing an advantageous employment package is essential.

Where Do I Start?

How do you obtain loyalty from your crew, ensuring they wish to return year after year? A good salary is a great start but there are additional ways to retain the right crew that will not only benefit them but you as the employer.

Over the last two-plus years, we have all been faced with the challenges of staying healthy, not only physically but mentally. And I imagine many of you have checked your health insurance policy for the first time to understand your benefit and limitations. Well, you are not alone, your crew are doing the same thing. They want to make sure they maintain good health enabling them to work at sea, provide for their family and also be healthy after completing their contract so they can enjoy their time off. A key part of maintaining good health means getting the care and treatment you need when you need it.

Health is Wealth

Providing more than just the basic medical coverage for your crew can be cost-effective and ensure your crew return after their holiday in their healthiest state. Ensuring your crew are healthy is not only important but also vital to your business. If you do not currently provide any additional medical coverage besides the legal requirements, you may wish to consider a vacation medical policy. This is medical coverage for your international crew once they sign off the ship from a completed contract until they return for their next contract. This kind of coverage allows the crew member to visit doctors while signed off and take care of any medical needs or treatment necessary and ensure they are physically ready to return for their next assignment onboard. Policies can also include the employee’s dependents which would be 24/7 in their home country.

If you want to go a step further, consider primary medical insurance for your crew or senior officers. This kind of coverage is primary to your required P&I insurance. While a little greater in costs, these plans provide excellent medical coverage 24/7 with global networks worldwide.

MHG has been providing insurance solutions for the maritime industry for over 30 years. We pride ourselves in offering superior service for your business needs. For questions or assistance, please contact us at mhginsurance.com or call +1 954 828 1819 or +44 (0) 1624 678668 and ask for the cruise division.

The industry is more competitive than ever, so providing an advantageous employment package is essential.

Alastair Macmillan-Bell joins MHG with over 35 years of insurance experience.

ALASTAIR MACMILLAN-BELL Fort Lauderdale, Florida (May 19, 2022) – MHG Insurance, an international insurance brokerage and advisory firm, announced today the appointment of Alastair Macmillan-Bell as Group CEO of the MHG Group of Companies, effective May 23rd, and will be based in their Fort Lauderdale offices. Andrew Dudzinski, Co-Founder and former Chairman and CEO, will assume a new role as the group’s Executive Chairman.

A veteran of the insurance industry, Macmillan-Bell has over 35 years of insurance experience focusing on the marine & energy market, cruise, and travel sector, along with international maritime medical services. His past business development roles, extensive client-focused relationships, international carrier partnerships, and numerous leadership positions will contribute significantly to the ongoing success of MHG. Most recently, Macmillan-Bell served as Senior Vice President for a leading international Risk and Human Capital solutions firm.

“I am very pleased to see Alastair assume the CEO role,” said Dudzinski. “With his extensive insurance background and international experience, Alastair comes uniquely qualified for this opportunity. I’m looking forward to working with him, and we are very excited at the opportunities we have to continue accelerating our growth across our business. We will be identifying new solutions that will contribute to our current industry position to generate even greater awareness of the MHG companies, as we take full advantage of the MHG brand as a leading insurance provider in the maritime industry.”

With over 30 years of expertise in crew employee benefits to the yacht, cruise, and commercial shipping industry, MHG is known as an international market leader in this very important arena of crew health. MHG’s solutions also extend to ship repairers, entertainers, concessionaires, shore excursion operators, and tour operators. MHG has hull and P&I insurance expertise for small charter fleets and some very nuanced products for yacht charter cancellation coverage. 

“I am thrilled to join MHG and to begin working with the very talented team that is in place across our international offices,” said Macmillan-Bell. “The MHG team is at the core of what we do. Their passion is inspiring, and their dedication to serving our very valued clients is the heartbeat of the MHG companies. As I take on this new role, I look forward to using my experience and working with my new colleagues to continue the significant growth that has been achieved to date while identifying new solutions that will add economic value to all stakeholders.”

MHG has offices in the U.S. and Europe, staffed with a team of insurance specialists dedicated to delivering marine insurance solutions, and are experts in the intricacies of all different types of insurance products and the regulations they must comply with. MHG has built a culture of inclusion and continues to build on this important aspect of its business, providing colleagues with great opportunities and an exceptional work environment. MHG has been recognized as a “Best Places to Work,” has an extremely low turnover rate, and truly instills a “family” atmosphere that is embedded in the company’s fabric.

About MHG Insurance

Established in 1991 in Miami, Florida, MHG Insurance is a global insurance brokerage and consulting firm focusing on the marine industry. Through its extensive relationships with international underwriting markets, MHG develops and provides a full range of employee benefits, wellness solutions, risk mitigation programs, property and casualty insurance, and financial services, all supported by a comprehensive attention to serving our clients at the very highest standards. In the marine community, MHG is well known for its expertise in the Maritime Labour Convention (MLC 2006) and developing MLC-aligned crew insurance solutions. For more information about MHG Insurance, please visit mhginsurance.com.

MHG Insurance, an international insurance brokerage and advisory firm, announced today the appointment of Alastair Macmillan-Bell as Group CEO of the MHG Group of Companies, effective May 23rd, and will be based in their Fort Lauderdale offices.

Cathy LaneDOUGLAS, ISLE OF MAN (March 24, 2022) – MHG Insurance has announced the promotion of Cathy Lane to Managing Director of the Isle of Man operation, MHG Ocean Benefits Limited. In addition to being Head of Compliance, Cathy will continue to oversee MHG’s operations throughout Europe.

Before this promotion, Cathy joined MHG in 2011 as the first full-time employee in MHG’s Isle of Man office. She was tasked with building a team that could support the company’s European clients, and due to her work ethic and success, she quickly earned the role of Director, European Operations in 2012. Alongside her daily responsibilities, Cathy is an advocate for the Isle of Man’s marine industry and serves on the Executive Committee for Isle of Man Maritime.

“Cathy has been crucial to our success in Europe,” said Andrew Dudzinski, MHG Chairman and CEO. “Since her first day here, Cathy has worked hard and displayed a level of dedication that is invaluable. The goals she has achieved make this promotion and added responsibility an easy decision for MHG. We are excited to see what she can accomplish in the future.”

“MHG has always provided a supportive environment in which anyone can flourish and I am happy to continue that tradition. “ said Cathy. “I’m grateful to the Board for their confidence and look forward to helping MHG build on the successes achieved so far.”

About MHG Insurance

Established in 1991 in Miami, Florida, MHG Insurance is an independent, global, full-service insurance brokerage and consultative facility. Through its extensive relationships with international underwriting markets, MHG develops and provides a full range of employee benefits, risk mitigation programs, property and casualty insurance and financial services all supported by comprehensive attention to service support for all of our clients. In the marine community, MHG is well known for its expertise in the Maritime Labour Convention (MLC 2006) and developing MLC-aligned crew insurance solutions. In the U.S., MHG provides group and individual employee benefits along with advice on federal regulations regarding the Affordable Care Act. For more information about MHG Insurance and the services we provide, please visit mhginsurance.com.

MHG Insurance has announced the promotion of Cathy Lane to Managing Director of the Isle of Man operation, MHG Ocean Benefits Limited.

Aerial View of Luxury MotoryachtIt’s not easy trying to decide what the best yacht crew insurance benefits plan is for yourself, let alone an entire group of crew members. After all, everyone has different needs and wants, and trying to accommodate everyone so that all parties are happy and satisfied is nearly an impossible task. To start things off, there is a ton of research to be done, quotes to look over, and conversations to be had. That is before getting to the part of trying to address the potential turnover among crews, ever-changing rules, and regulations, and most importantly setting your vessel up to try and attract the top talent out there. Which brings us to our next point, offering a competitive benefits plan can be the key to keeping existing crew members happy ad engaged. Don’t know where to start? That is where we come in!

Medical/Health Insurance

Health or medical insurance can speak for itself. While most people are aware of or have experience with health insurance and what comes with it, there are many different aspects of a plan that needs to be considered. How much is the deductible? Is there a co-pay? What is the co-insurance? Does it include dental, vision, and/or disability? Feeling overwhelmed? Please feel free to contact us for assistance and guidance on what plan would fit your yacht crew best.

Life insurance

While most people may consider life insurance as a personal option, there are a growing number of yachts that are including life insurance coverage as a part of their overall benefits package. Offering coverage for your crew can give them some assurance that if anything happens to them while they are at sea, their loved ones will better protected financially back home. Typically, the coverage amount is fixed in increments of $10,000, up to $100,000.

Accidental Death and Dismemberment

Accidental death and dismemberment, also known as AD&D, is very similar to life insurance. The difference is that there is only a benefit from an accidental death, or dismembering injury. This type of insurance typically provides coverage 24/7, not just while at work.

Personal Accident

Personal accident is similar to dismemberment coverage and is an important insurance policy for your crew members. Often referred to as PA cover, personal accident insurance will pay out a sum of money for permanent injury (and sometimes permanent illness). It is often confused with medical insurance; however, it doesn’t provide coverage for any medical bills or doctors’ appointments, it simply provides a one-time payment after experiencing a permanent injury or illness.

Temporary Disability Insurance

Temporary Disability insurance is a great way to offer coverage for your crew in the event they get hurt and cannot work for a short period of time. Having this policy will cover a percentage of the person’s wages if they are unable to perform their occupation and can last for up to two years due to an injury or illness. If the disabling event becomes permanent, the personal accident (if purchased as above) may kick-in and pay a lump sum.

Hospital Indemnity

Hospital indemnity insurance at first glance would make you think that it covers hospital visits, however that is not the case. Think of this type of insurance as a poor man’s disability insurance. Depending on the policy, it provides a benefit each day your crew member is in the hospital. For example, if someone were hurt on the job and had to go to the hospital, the insurance would pay that person $100 per day that they are admitted in the hospital. This does not cover their hospital bills; it just provides the person with an added benefit.

Features That Are Not Features

While the above list is not exhaustive of every option and feature, one thing to note is that some insurance providers tout features that do not hold true. For example, there is no such thing as a Maritime Labour Convention (MLC) compliant yacht crew insurance. It sounds good, but it means nothing. Another thing to be wary of is a plan that says, ‘unlimited coverage’. Almost always with international policies, there are restrictions and limitations on the benefits such that the ‘unlimited’ part is quite ‘limited’.

Having proper insurance is important whether you are at sea or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. For more information on preparing to work on a yacht, read our previous blog, “ Yacht Crew Insurance Terms 101

Offering a competitive benefits plan can be the key to keeping existing crew members happy ad engaged. Don’t know where to start? That is where we come in!

Jack Okell smilingDOUGLAS, ISLE OF MAN (February 22, 2022) – MHG Insurance announced today the promotion of Jack Okell to Senior Analyst. In this newly created key position, Jack is responsible for collating data, conducting high- and low-level data analysis, and internal and external reporting. Jack actively works within MHG’s Lloyd’s of London coverholder operation to ensure requirements are satisfied, and to improve MHG’s delegated authority capabilities. Jack also handles International Special Risks, assisting clients with sourcing cover appropriate for their needs from both the London market and wider company markets.

Prior to this promotion, Jack joined at MHG as an intern in 2016, and quickly worked his way up to a full-time position. With this new promotion, it shows that MHG is continuing to grow, largely due to the dedication and commitment of its team members.

About MHG Insurance

Established in 1991 in Miami, Florida, MHG Insurance is an independent, global, full-service insurance brokerage and consultative facility. Through its extensive relationships with international underwriting markets, MHG develops and provides a full range of employee benefits, risk mitigation programs, property and casualty insurance and financial services all supported by comprehensive attention to service support for all of our clients. In the marine community, MHG is well known for its expertise in the Maritime Labour Convention (MLC 2006) and developing MLC-aligned crew insurance solutions. In the U.S., MHG provides group and individual employee benefits along with advice on federal regulations regarding the Affordable Care Act. For more information about MHG Insurance and the services we provide, please visit mhginsurance.com.

MHG Insurance announced today the promotion of Jack Okell to Senior Analyst.