Personal Risks

Topics

Chubb’s foundation is supported by its industry-leading underwriting, claims and risk engineering capabilities. The following includes information about each of Chubb’s North American business lines. If you would like to request an interview with one of Chubb’s spokespeople or to learn more, please contact Chubb media relations at news@chubb.com.

Boating Exposures Part 4

Some Facts to Think About

In releasing statistics on recreational boating accidents, the U.S. Coast Guard reported that:

  • There were 4,789 accidents that involved 709 deaths,
  • 3,331 injuries
  • Approximately $54 million in property damage.
  • More than two-thirds of fatal boating accident victims drowned, and of those, 90 percent were not wearing a life jacket.
  • Only 10 percent of deaths occurred on boats where the operator had received boating safety instruction.
  • Careless/reckless operation, operator inattention, no proper look out, operator inexperience and passenger/skier behavior rank as the top five contributing factors in accidents.
  • Alcohol use is the leading contributing factor in fatal boating accidents; it was listed as the leading factor in 17 percent of the deaths.

Provided below are direct links to some helpful boating-related Web sites. A few of these will offer you valuable travel safety information from trusted public organizations, while others will provide resources to help you determine the market value of your vessel:

National Hurricane Center
National Association of Marine Surveyors (NAMSGlobal)
The Society of Accredited Marine Surveyors (SAMS)
The United States Coast Guard
Travel warnings with the U.S. State Department

Know Your Captain. Know Your Crew.

You are transferring a tremendous amount of responsibility when you select your captain and crew. It is an extremely calculated decision that requires intense forethought. Indeed in many cases, your captain becomes the surrogate who overseas your yacht’s maintenance and even travels on your boat.

Be thorough in your due diligence. Conduct intense background and personal reference checks to confirm that he or she believes in safety first, has had extensive maritime experience, including demonstrating quick thinking and the skills to overcome emergencies.

Once you have made your selection, draw up a through contract outlining the captain and crew’s responsibilities.

Choosing this team is one of your first and primary responsibilities as a boat owner, one that depends on good judgment and sound decision making. You are literally putting your yacht, and more importantly, yourself and your family in the captain’s hands.

An experienced crew who can maintain and operate a boat and react to an unexpected emergency is critical; the life of your family and friends may depend on it one day.

Next: Search and Rescue Devices That Could Save Your Life (part 5 of 5)

The opinions and positions expressed are the authors’ own and not those of Chubb. The information and/ or data provided herein is for informational purposes only and is not a substitute for professional advice. Insurance coverage is subject to the language of the policies as issued.