MarineBusiness-World.com
 
 
News Home FishingBoating Photo Gallery Australian Cruising Sail-World Australia
Sail-World.com : So just who is Pantaenius, then? (Part II)
So just who is Pantaenius, then? (Part II)

John Curnow ©

In Part I, we got to discover that whilst Pantaenius is very old, he is not actually the fourth Musketeer or an ancient Greek philosopher. In fact, he is probably an it, or really a they when you come to think of it, and they are Europe’s largest marine insurer.

With a huge, global following of over 70,000 policy holders and some very unique and great cover options, the Australian market is now set for wonderful new choices when you have to seek cover for your water born assets. Whether sail or power, large or small, recreational or commercial, James MacPhail and the team at Pantaenius are there for you, the Australian mariner.

Shortly, we’ll hear what James has to say about his background in the business and appointment as the CEO of Pantaenius Australia. Prior to that, let’s just do a quick review from Part I of some of the highlights from the suite of products. Now having said all of that, please always remember to thoroughly read, evaluate and understand all the material relating to your policy, just as you would with any financial services product.

• An agreed, fixed value that does not become a current market value.
• No deductions deducted from your payout in many cases.
• No limit to the salvage cost.
• Extensive cover over many types of incident.
• You can select new for old replacement on parts of your vessel.
• Transport and storage within your designated cruising area is included.
• So too, normal wear and tear.
• And natural disasters.
• Unpaid crew and guests are covered for injury and claims against either an uninsured third party or even yourself!
• You, personally, are covered as Skipper if borrowing or chartering a vessel in another country.
• A specified limit of AU$150,000 is available, should your vessel be impounded by overseas authorities.
• You are covered for the costs associated with an unintentional activation of your safety systems.
• You get some regatta coverage included as standard.
• The scope of your liability cover extends to injury, death, financial loss and property damage to third parties.

JamesMacPhail Managing Director of Pantaenius -  Pantaenius   Click Here to view large photo
Let’s get straight in to with James MacPhail then, as he explains why Pantaenius is such a large entity. ‘The company started out and is still based in Hamburg, Germany, which has an immense seafaring and shipping history. From there, Pantaenius expanded into the UK and all of Europe, and around 10 years ago, into the USA, as well.’

‘Australia and the Western Pacific was the last region to be added, which means Pantaenius can offer a truly worldwide service to all of our blue water cruisers and superyacht owners. Pantaenius is one of the top three, production pleasure boat insurers in Europe and one of the world’s largest when it comes to superyachts.’

‘Nearly every Australian who goes off cruising worldwide, or buys a boat in the States or Europe to sail them around and then bring them back, has Pantaenius insurance.’

‘We are one of the few companies that can offer a single policy, which then allows someone to cross multiple jurisdictions. Instead of working with a single underwriter, we work with pools of underwriters. They are licensed and able to work in different jurisdictions independently, which then allows us to tie a single policy together and thereby cover someone on a worldwide cruising basis’, explained James.

Incidentally, for the reasons outlined above and because some overseas people choose to keep their boats here in Australia, the office already has a client roll to service, literally from the moment the office door opened.

Now of course, that was not the only reason Pantaenius set up shop on our shores. Growing the business was a key element to it, as well. ‘In terms of differentiation, we are able to insure people who want to take their boats outside territorial waters and we can insure people that want to do things that other insurance companies can’t, won’t or are uninterested in insuring’, said James.

‘Within our policies, we offer a whole range of different features that some of our competitors either don’t offer or certainly don’t promote. Things like agreed fixed value, which we actually offer as standard.’

‘In terms of excesses, we provide a no excess clause on a range of different losses, including total loss. For example, when someone loses their boat under accidental circumstances, then they won’t be contributing to an excess.’

‘Consequential loss or damage is quite possibly the biggest feature to mention, however. This is where damage occurs as a result of something failing due to wear and tear or outright malfunction. We don’t cover the part per se, but we do cover the resulting damage, which can be very extensive. It’s called consequential loss and a lot of our competitors do not cover it at all.’

‘This is pretty unique inside the insurance industry, I can tell you.’

Now for yachties, this is really important if the rig were to come down, for instance. You know the boat will be back in working order, as quickly as can be expedited. However, it’s not all about yachts. Think about the legs of the sterndrives or the shafts, skegs, cutlass bearings and props that make your powered vessel go.

So not only are there some unique features in the Pantaenius offering, there are some decidedly unparalleled ways they go about the business of marine insurance, too.

‘We actually manage our own claims, in-house. Where required, we will use the services of marine surveyors and loss assessors, but we don’t appoint them and they are not appointed on behalf of our underwriters or the insurance companies, either. They produce an independent report for us.’

‘In a lot of cases, where it’s a fairly standard loss or pretty basic claim and all parties are comfortable that the resolution makes sense, we are the ones that write the cheque to the customer.’

‘Where there is no compliance for us to engage an external specialist or involve any other third party, we are authorised and appointed by the insurance companies to process the claim and that is a unique and incomparable structure inside the whole Australian insurance industry.’

Of course, the major benefit to you, the policyholder, is that this allows Pantaenius to process claims both significantly faster and more efficiently. You also get to deal with just the one person and not some new party brought in for just this particular time.

‘We hear gripes every day, where claims are being held up with red tape inside the insurance companies. You find yourself dealing with one person and then five months later they have disappeared and you have got to explain the claim and argue the point with a new employee of some insurance company who really doesn’t understand anything about marine insurance.’

‘It can become really cumbersome and desperately time consuming. I know of a number of claims that are well outside of 12 months since occurring, where the owners are more than keen to get a resolution. This is not something that happens with us. Our settlement record worldwide is normally within 45 through 60 days’, James pointed out.

So if going to sea is all about choosing a good skipper, with a well prepared boat and competent crew, then you’d have to say the same needs to be said about selecting an insurer. Bring on a brief history of James himself, then.
‘Primarily, this is a great role for me, because I have got a really strong relationship base, born out of an extensive marine industry background. There are friends and people I know all around our great country, that I have either been yacht racing with, worked alongside in the industry, sold boats to or been co-located at various marinas.’

‘As a sailor, I have a fair handle on where all the rocks are in Australia. I have navigated my way to pretty much all of them and know what it costs to fix the consequential damage of incidences with those rocks’, said James with a distinctly wry smile.

‘Additionally, I have had both project management and hands-on building involvement with vessels ranging from Etchells to IMS and IRC ocean racers. So construction methods, techniques and acceptable building standards are part of my general knowledge base. When working with customers and claims alike, I have more than a good understanding of what is required to get a solution.’

‘We won’t be putting prices on damages and repairs. That will be done by people who are appointed to quote to repair the project, but I will know instantly whether the quote is realistic or sensible and just as importantly, if it is comprehensive enough to return the boat into its previous condition.’

‘The other thing that helps me with this great role at Pantaenius Australia, is that I have worked in both the powerboat and the yachting industries for the bulk of my career, since 1985. Whilst there are people who have worked in one or the other, very few people have a broad understanding of the entire industry in the way that I do.’

‘In terms of insurance, I have been the owners representative on a number of major claims over the last 30 years. I think it is fair to say that I have got a really strong understanding of how the industry works and what are the customers’ expectations.’

‘The final and linking piece of the picture is that I have been selling marine insurance in Australia for over 30 years. It has afforded me a good understanding of the underwriting, claims and commission aspects of the industry, if nothing else.’

Out of that last comment, particularly, comes the very next question. Just how is James going to direct the team at Pantaenius to build the customer base? ‘There are a reasonable number of marine enthusiasts out there with a requirement that our competitors just don’t want to insure. We’ll work with the media and advertise accordingly, but our real push is with a small nucleus of dealers that are not traditional brokers, but rather, they are involved in all the ancillary and maintenance type operations.’

‘Of course, whilst relationships are going to be a key element of our focus, I really do believe we have a far better mousetrap and our policies will literally do the talking for us. I think you’ll find that the market will have to move towards our style of policy offering. As a result, there will be significant changes in the way the commission structures are paid, just as there have been with the Telcos in the last five or so years.’

‘Yes. We are really looking forward to our first year. The market needs the changes and the customers will love the way in which Pantaenius deals with their claims. We are strong, well credentialed, have a big underwriting pool and a product that is both unique and serves the customer well. It is a good time for us to enter the Australian scene.
In finishing, James commented, ‘I think we are pretty price effective to, you know. We have a 50-foot racing yacht coming to Australia, which we have covered for the sum of $750,000. The premium is $7,500 and that includes doing the Sydney Hobart Race!’

So if price shopping your bank for the best interest rate is now the done thing, then it may also well be time to do exactly the same with your marine insurance. To reach Pantaenius Australia and ask for your quote, call 02 9936 1670, email info(at)pantaenius.com.au or go to the website.

Happy sailing – it is not just days of fair winds, blue skies, moderate seas and fish that are biting. It is very much about peace of mind for the unexpected and that’s exactly what tends to happen around boats!

Sportsfishermen bunker and replenish in Cooktown before heading to Lizard Island for the tournament. -  John Curnow ©  

New Beneteau Oceanis 45 slides along the glorious and stunning Pittwater, just North of Sydney. -  John Curnow ©  

Prawn trawlers in one of the many rivers of Northern NSW. -  John Curnow ©  

The Farr52, Goldfinger, marches towards Port Phillip Heads and Bass Strait, immediately thereafter. -  John Curnow ©  

We all live in a ........, a ....... etc, etc. -  John Curnow ©  

Cruising catamaran anchored in a secluded bay. Just the ticket! -  John Curnow ©  

Under Capricorn in the middle of The Rip, just outside Melbourne's Port Phillip Heads. -  John Curnow ©  

Marinas everywhere full of all manner of boats, all needing insurance. Call Pantaenius to get yours. -  John Curnow ©  

New Beneteau Oceanis 45 slides along the glorious and stunning Pittwater, just North of Sydney. -  John Curnow ©  


by John Curnow


  

Click on the FB Like link to post this story to your FB wall

http://www.marinebusiness-world.com/index.cfm?nid=103456

1:35 PM Fri 2 Nov 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.


Related News Stories:

06 Mar 2014  Pantaenius to sponsor Port Stephens Trophy and Commodores Cup
07 Feb 2014  Pantaenius joins as sponsor for Newport Bermuda Race
29 Jan 2014  Cyclone Warning- Port Douglas to Mackay
06 Jan 2014  Is it WoM or some other virus with Pantaenius Insurance?
21 Dec 2013  Is it WoM or some other virus with Pantaenius Insurance?
10 Jun 2013  Healing powers of sailing - The most important part is the journey
02 Apr 2013  More question and answer time with marine insurance giant, Pantaenius
09 Jan 2013  Marine insurance giant Pantaenius - shaking the Australian market
25 Oct 2012  So just who is Pantaenius, then? (Part I)
22 Oct 2012  PANTAENIUS Sail & Motor Yacht Insurance opens office in Australia




Marine Business News

The new application from PredictWind for Mac and PC is revolutionary for accessing weather data when offshore. Accessing GRIB files, Weather Routing, GMDSS forecasts and Satellite Imagery is now a simple task with the unique and user friendly interface. ... [more]  

November 26, 2014: The AUD has dropped back to four year lows, falling below 0.8600, a more than 50% retracement from technical highs. The AUD is under siege and the KIWI has been infected, now testing 0.7800, on the downside. ... [more]  

November 25, 2014: The single currency bounced to 1.2430 while the GBP jumped to 1.5700. These are likely dead-cat bounces as the EUR drifts towards 1.2000! Commodity currencies gave up some of last weeks gains, with the KIWI falling back to 0.7850, while the AUD was the big loser. The AUDUSD fell to 0.8615 impaired by the reality of the Chinese interest rate cut. ... [more]  

For over fourteen years now Matthew Willett has been selling new and used powerboats to hundreds of happy customers. His love of boats and the ocean goes back to his childhood with his skills honed from serving for ten years in the Royal Australian Navy. ... [more]  

Marine Rescue Middle Harbour Unit Commander Peter Nott said thieves had stolen the motor from a 3.9m aluminium runabout that is the centrepiece of the unit’s annual raffle, damaging the boat in the process. The raffle prize is a Quintrex 390 Explorer runabout fitted with a 9.9hp Mercury 4-stroke outboard on a registered Quintrex trailer, worth almost $9,000. ... [more]  

HanseYachts AG ended the first quarter of the new fiscal year (1 July 2014 – 30 September 2014) with another significant increase and is continuing on its growth course. A positive EBITDA is expected for the current fiscal year 2013/2014. ... [more]  

Yamaha's 2014 Oceania Marine Technician Grand Prix has been run and won. The Yamaha technician GP is a training and skills contest where the best technicians from all over Australia and New Zealand come to compete. Competitors are put through a series of challenges to test their knowledge and skill in a simulated workshop environment. ... [more]  

The world’s largest sailing media group, Sail-World.com, held its first continental group meeting at the Marine Equipment Trade Show (METS) this week. METS is the world’s largest B2B Marine show and this year it had a record 1358 exhibitors and more than 21,000 Marine industry representatives. ... [more]  

2015 Chicago Boat, RV and Strictly Sail Show - US Sailing and the National Marine Manufacture Association have partnered to enable one-design dinghy classes to promote their class associations and one-design sailing in general at the Chicago Boat, RV and Strictly Sail Show. ... [more]  

BUKH Diesel UK Ltd has been acquired by UK based design engineering firm, Supacat Group, which has signed a new distribution agreement with BUKH A/S Denmark, creating a new sales and customer support service for the UK and Ireland marine engine market. ... [more]  

Zhik’s ZK Seaboots have been developed for extreme weather protection in the most demanding sailing conditions, using a combination of neoprene, rubber and merino to provide unparalleled warmth, flexibility and total protection. Whether you are driving a RIB, on a delivery trip or extending your boating season into the winter months, these Zhik Seaboots will keep your feet warm and dry. ... [more]  

The Marine Equipment Trade Show (METS) confirmed its status as the world-leading B2B event of its kind this week in Amsterdam RAI. A record number of 21,086 visitors were welcomed by a record number of 1358 exhibitors. Crucially, early results of the post-show surveys prove that visitors and exhibitors alike were pleased with the results of the three-day event. ... [more]  

November 21, 2014: Commodities fought a rear guard action and the associated currencies attempted to stem the losses, with the AUDUSD pushing back to 0.8620, while the NZD moved up to 0.7860. ... [more]  

EMC Computer Systems Spain, the Spanish arm of the EMC Corporation, has signed a sponsorship agreement with the Fundació Navegació Oceànica Barcelona (FNOB), the company organising the Barcelona World Race, to become the technological provider for the double-handed, non-stop, round the world regatta. EMC will meet the data storage and backup needs of the Barcelona World Race. ... [more]  

On Monday 17 November, an impressive line-up of speakers at 13th International Sailing Summit shared ideas and best practice from around the world, demonstrating how the sailing industry can change to increase and retain participation, through innovation, technology and cultural changes. British Cycling has seen its membership grow by 567% since 2005. ... [more]  

An auction is set to be held at Runaway Bay Marina, Gold Coast, on Saturday 22nd November. Telephone bidding is available by contacting, Jo on 0407 213 557, or email, jo@marineauctions.com.au. ... [more]  

The 2015 London Boat Show has today (Thursday 20 November) agreed to a title sponsorship deal with Forex trading company, CWM FX. The 2015 Show will become known as the CWM FX London Boat Show. CWM FX offers quality, user-friendly and professional trading platforms and features, giving users the power to customise their trading experience to fit personal needs for any trade, anywhere, any time. ... [more]  

Garmin, the global leader in satellite navigation, has announced its next generation of open-array digital radars – the GMR™ 424, 624/626 and 1224/1226 xHD2. Continuing to set the standard for open-array radars, the xHD2 series offers brand new features and capabilities that provide better precision, targeting and performance while transmitting power at four, six and 12 kilowatts respectively. ... [more]  

Garmin Ltd has announced a new line of scanning transducers designed to accommodate any calibre of mariner, from the casual cruiser to the professional angler. Supporting both the newest lines of Garmin echoMAP and GPSMAP chartplotters and multifunction displays (MFD), this full array of thru-hull and transom-mounted transducers are a valuable addition to any vessel. ... [more]  

November 20, 2014: The KIWI also staggered as Dairy prices were hit by the prospect of increased competition arising from China Free Trade Agreements. The NZD fell to 0.7860 and may face some short term pressures mellowed by interest rate differentials. ... [more]  

The Maritime Management Centre and Sailability NSW have announced a partnership to promote lifejacket awareness. The Centre has presented Sailability NSW with 50 new generation lifejackets so their volunteers can act as ambassadors by wearing them and role modelling behaviour to further encourage everyone on the water to wear lifejackets. ... [more]  

Arvor reveals new diesel range by Arvor Boats Australia
Boat building should be both creative and technical and Arvor has always sought to push back its boundaries. This is what inspired its creators in the first place. And this is what leads us to the future. This summer Arvor Boats are delighted to announce the launch of two new models to the hugely popular and ever growing Arvor range – the 690 D and 730 D. ... [more]  

Carla Demaria, President of Monte Carlo Yachts, Board member of Italian Yachting Federation (UCINA) and the Board of Bénéteau Group and General Manager of Bénéteau Brand, has given a fascinating keynote speech at the opening ceremony of METS 2014. ... [more]  

Have you booked your accommodation for Hamilton Island Audi Race Week 2015? It is always good to book early to secure the best properties. We are also offering early bird discounts for bookings between now and February 2015. ... [more]  

November 19, 2014: The GDT dairy auction overnight showed prices falling 3.1% from two weeks ago, this pushed the NZD down from overnight highs nearing 0.7950. The NZD pushed lower on all crosses after the auction to trade 0.6312 and 0.5050 against the EUR and GBP. ... [more]  

Garmin, the global leader in satellite navigation, has announced a new line of echoMAP combination chartplotters that integrates scanning sonar capabilities without the need of an additional sounder black box. Along with a user-friendly interface and built-in cartography, the new echoMAP series proves to be a valuable tool for boaters and anglers of all types. ... [more]  

Garmin, the global leader in satellite navigation, has announced the GSD 25, a premium sonar module that offers traditional sonar, 1kW CHIRP, CHIRP DownVü and CHIRP SideVü scanning sonar for a versatile, all-in-one black box. The GSD 25 is the ultimate solution for the boater or angler that requires both scanning capabilities and traditional sonar. ... [more]  

Net sales for the Dometic Group’s third-quarter totalled SEK 2,147 million (SEK 1,961 million), representing a nine percent increase. 'It is encouraging to see top line growth together with a slight recovery in gross margins compared to the first half of the year, despite continued price pressure. We are maintaining our efforts to improve working capital and cash flow was strong in the quarter. ... [more]  

Bill Dixon, Chairman of the Jury, presented the prestigious DAME Award 2014 at the commencement of METS this morning to the Steering Traveller from Jefa Steering ApS of Denmark. The jury praised the product for the way it offers a genuine solution to chain/wiresteering. ... [more]  

At the opening of METS 2014 in Amsterdam today, marine electrical products manufacturer Furrion® announced that it will launch a distribution center in the Netherlands later this year, to improve service to its customers across the continent. ... [more]  

The very versatile SUV collection from Riviera is set to scale even greater heights after the series flagship 565 model secured Best Motoryacht honours at the biggest boat show in the world. The prestigious Editors Choice awards for the ‘best of the best' in production and semi-custom yachts were announced at a special gala presentation during the Fort Lauderdale International Boat Show. ... [more]  

Australian luxury cruiser manufacturer Maritimo has recorded one of its most successful Fort Lauderdale International Boat Shows ever with multiple sales of its M58 and M50 cruising motoryachts. Maritimo Sales and Marketing Manager Greg Haines said the atmosphere and positivity at the recent show was the best it had been in many years. ... [more]  

Superior adds to Sales Force by Superior Jetties
Craig Little has joined Superior as group sales manager. In this role, Little will work across all Superior product ranges and client bases both domestic and international, mining, construction, marine and custom rotomoulded products. ... [more]  

Collinson FX Market Commentary: Nov 18 - Japan in recession, Kiwi +ve
METS 2014 - Exposure Marine wins DAME Design Award
Marina training a success in Dubai
NSW inspires trans-Tasman safety push
New team member at OneSails GBR East Loft
Dubai Maritime City Authority registers 574 marine vessels in 2014
Ferretti Group opens its first flagship showroom in Shanghai
Gulf Craft to invest $100 million in developing luxury yacht facility
Yamaha announces the end of V4 Saltwater Series 115C and 130B
Yachting Australia looking for Sport Services Coordinator
Brisbane Tinnie and Tackle Show - Exhibitor applications are now open
Visit Doyle Sails New Zealand at METS 2014
GC Marine Expo - Winner Mark is Rib-Ready thanks to Sirocco score
Traditional canoe culture and a new look at Endeavour
Review of boat driver licensing in NSW
Collinson FX Market Commentary: Nov 15 - The beaches beckon
Singapore yacht associations to merge
Festival of Sails: RGYC announces Rex Gorell Land Rover major sponsor
Moth Worlds 2015: Sliced bread, sheep stations, awe and reverence *Feature
Spirit Yachts Asia announce new Hong Kong Office
Collinson FX Market Commentary: Nov 14 - US Equities unchallenged   
Australian marine technology to be showcased at next week's METS 2014   
Call for increased efforts to realise single ASEAN Shipping Market   
Pantaenius Insurance - 'Know boats, me.' *Feature   
METS 2014 - Carla Demaria prepares to strike the tone   
METS 2014 - Halyard to launch innovative thermal insulation product   
Collinson FX Market Commentary: November 13 - Bulls beware   
SSCBC - The once little club with a big heart   
Yanmar Joystick Control makes boating easier   
Book your meeting with Superior at METS   
Australian Marine Alliance (AMA) savages NSW Fisheries minister   
Malaysia becoming preferred destination for yachting tourism   
Indonesian Govt eases yacht permits to boost ‘marine tourism’   
Gamma Yachts delivers Gamma 20 to opera singer Andrea Bocelli   
Collinson FX Market Commentary: November 12 - All quiet on Vets Day   
METS - TRAC Ecological to feature environment-friendly products   
First sponsor announced for Int'l Superyacht Coatings Conference   
Vector Compact, the smallest GPS compass in the world   
Reaching Global Sailing markets *Feature   
The new OST Carbon Furling Mast - DAME 2014 nominee   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
  





Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW MBW
LocalAds   DE  ES  FR  IT