Charter Lakes Marine Insurance Blog

VISA Card Referral Program “Update”

Posted on May 17, 2012 by Dan Longman

Charter Lakes began offering the VISA Gift Card referral program in 2004. Since then we have given away over 500 $ 25.00 Visa gift cards to current clients who refer a new client to us. We work hard to earn your trust and very much appreciate our client’s referring their fellow captains and boaters to us.

Recently one guide took it to extremes when he sent a mass email touting our products and services and asking that people contact us for an insurance quote. He also asked that they tell us he referred them. Again, we very much appreciate this client’s enthusiasm for Charter Lakes, however, we did not authorize his actions nor would we ever advertise in this non-compliant manner.

Charter Lakes has been built on word of mouth referrals. The gift card program was our way of rewarding clients who liked us enough to refer us. It was never meant to be used by clients in this way, which has caused us to re think the program. Going forward the referral program may not be used in conjunction with spamming or any other electronic communications unless pre-approved by Charter Lakes.

Posted in Uncategorized | Leave a comment

GOOD NEWS! TWIC CARDS NO LONGER REQUIRED FOR SOME MARINERS

Posted on February 17, 2012 by Mark Van Epps

NACO (National Association of Charterboat Operators) has worked diligently on the TWIC card issue from the very beginning explaining this was an unnecessary financial burden and would not provide additional security. We can proudly announce some good news for many captains.

The Coast Guard has released a Policy Letter which modified the requirement that all mariners obtain a Transportation Worker Identification Credential (TWIC) in order to be issued a Merchant Mariner Credential (MMC).

The Coast Guard is allowing mariners without a valid TWIC who operate on board vessels that do not have a security plan to acquire and renew a MMC. Specifically this policy will apply to mariners who are inactive or not operating under the authority of their credential, as well as those who serve on vessels that are not required to have a vessel security plan. These vessels include:

1. Uninspected passenger vessels of less than 100 gross register tons

2. Vessels inspected under subchapter T of Title 46 Code of Federal Regulations, except those on international voyages

3. Towing vessels not involved in towing barges inspected under 46 CFR subchapters D, I or O

4. Towing vessels involved in fleeting, docking, or ship assist

Mariners on the vessels described above will be permitted to renew an existing credential without submitting proof of hold a valid TWIC. The coast guard will implement policies, which will enable these mariners to acquire a MMC without having to make two trips to a TWIC enrollment center.

Should you require additional information or assistance, please contact the USCG National Martitime Center (NMC) by email at IASKNMC@uscg.mil or by phone at 1-888-IASKNMC (1-888-427-5662).

source – NACO and the Alaska Charter Association

Posted in Coast Guard Regulations | Leave a comment

Fishing for a Better Economy!

Posted on February 3, 2012 by Dan Longman

“I want to do that!” is the cry we hear from people who see Dan Hernandez on television. These folks are doing more than adding sportfishing to their bucket lists, they are heading to the internet in droves to book charter boats for their family vacations.

I recently read an article about the economic impact of fishing in Sport Fishing Magazine. I was struck by the magnitude of the numbers and the immense buying power of anglers:

One million jobs are supported by sportfishing, mostly in the travel service industries and in the production of gear and boats – That the number of Americans employed by the United Parcel Service, times three.

Sportfishing pumps $125 billion into the economy annually – Apple Inc. reported a mere $108 billion in its last fiscal year.

Some key statistics (reprinted with permission from Southwick Associates):

Just how important to the US economy is the Sport Fishing Industry? Consider the following economic-impact figures from several U.S. industries, according to Southwick.

$ 125 billion—Sport Fishing
$ 121 billion – Universities, colleges, tech schools
$ 81 billion – Motion Pictures and video
$ 67 billion Railroads

As you might expect, Florida ranks as the most significant state in terms of economic impact derived from recreational sport fishing. Florida recreational sport fishing generates $ 5.7 billion in economic activity, $ 3.3 billion of which is attributed to retail sales alone (or 12 times more than the value of Florida’s citrus crop).

The best news of all is that the sportfishing industry continues to grow as Americans embrace the beauty of what we have right here in our own country. We are immeasurably fortunate to have and enjoy so many pristine national parks and over twelve thousand miles of coastline. As Americans simplify their vacations and travel closer to home, they are rewarded with fresh air and the fishing experience of a lifetime. And, of course, there is the tremendous reward of a big fish story to take to their next barbecue. You’ve seen that guy on Facebook with the photo of a fish 4 feet long…

Parents are discovering that sportfishing offers a unique vacation experience that brings families a lot closer together than other vacation options. It is impossible for dad to land a nine-pound steelhead on Michigan’s Muskegon River while simultaneously texting on his Android. As a result, families live in the moment and connect with one another. This is where families make memories; they then become hooked (please pardon the pun!) and come back the next year for more.

Charter boats are much more cost effective than renting or owning your own boat – seriously, would you really use your own boat enough to make it cost effective? And what about maintenance? Patrons appreciate the worry free experience charter boats provide. There is the glorious boat ride through magnificent waters that even a client’s sixteen-year-old daughter will enjoy, even if she can’t turn the Lady Gaga off on her iPod. Boat captains are all teachers, so patrons know they will learn anything they need to hook and reel a thirty-pound dolphinfish (and they will learn that we are indeed talking about a fish, not Flipper).

The wind is in our sails now, and sportfishing is quickly becoming America’s pastime!

——-

At Charter Lakes, we take the worry off the shoulders of yacht owners with customized package policies that cover physical property as well as liability for you and your clients. You owe it to your clients to have the best coverage you can afford, and we owe it to you to offer the best and most comprehensive specialized marine insurance products and services possible.

HAPPY HOLIDAYS, CAPTAIN!

Posted on December 7, 2011 by Dan Longman

From all of us at Charter Lakes, we would like to wish you and your family a Happy Holiday Season. We also want to thank you for being a valued Charter Lakes customer.

While speaking at a marine insurance conference in October about “underwriting charter boat insurance”, I was asked if I saw an increase in my customer’s charter businesses due to weak boat sales. It made sense to the questioner that if people could not afford to buy a boat the next best thing was to charter a boat. I agreed, but could not report I had heard that business was better this year than it was last year. The problem as I see it is that tourism has not returned to its pre 9/11 levels. This is especially true of the
charter industry in many parts of the country.

I went on to explain to the audience how affordable it was to charter a boat as opposed to owning a boat. And if you like to fish, the best way to do so was on a charter boat. Fortunately, thousands of people across this country understand this and support the charter industry. I also explained some of the challenges facing the industry.

For the past 20 years Charter Lakes has administered the group insurance program for NACO. We support the Charter Industry in part through our support of NACO which has done much for this industry. Much of what we do is behind the scenes, but rest assured, we eat our own cooking, and are staunch advocates of this industry.

At Charter Lakes we focus 100% of our business on marine insurance with a special focus on passenger vessel insurance. We understand the challenges of operating a charter business. We also understand the need for charter insurance that is broad in coverage and affordable in price. Charter Lakes remains the low cost provider of passenger vessel insurance in the country.

Wishing You Peace, Prosperity and Happiness, from all of us at
Charter Lakes!

Posted in Uncategorized | Tagged Charter Operations, December 2011 Newsletter | Leave a comment

Preparing Your Passengers

Posted on December 6, 2011 by Dan Longman

Taking the public for hire is serious business. The captain needs to be aware of who he/she is taking out. For many passenger’s, this is their first time on a boat and they most likely do not have any idea how to operate it or what to do in an emergency situation. If you or your captain fall overboard or have a serious medical condition, will your passengers know what to do?

The following are some of what should be covered with your passengers before leaving port on each trip:

• Show them where the life jackets are located so that if the captain gives the order for everyone to don them, people aren’t wasting precious time tripping over each and tearing things apart trying to find them. It’s amazing how many boats have them tucked away somewhere out of sight, and the majority of guests/crew has no idea where to find them.

• Point out the fire extinguisher and flare locations and instruct passengers/crew how to use them.

• Conduct a short demonstration on how to use the VHF radio. Discuss which channel is the emergency channel, and have a laminated instruction card attached to it or near it clearly explaining how to use it in case of emergency. A quick learn on how to pinpoint the current vessel location on the GPS (if you have one) to give to the emergency personnel is also a good idea. If you do not have a GPS, teaching guests to spot and relay back any landmarks is the next best thing.

• Simple boat operation instruction – Learning to properly operate a boat takes many years and a passenger will most likely never attain the same knowledge a seasoned captain has, but taking 60 seconds to show passengers where the throttle and gears are located, and that the gears must be in neutral to start the engines is something that could potentially save their lives.

• It is also a good idea to just show people where some basic equipment is located – life ring, boat hooks, gaffs, lines, first aid kit, etc., just in case they are asked to retrieve them in a hurry. Also, always tell people where a sharp knife on board is located in case it’s needed in a hurry to cut a line.

A brief 5 minute passenger orientation to go over the basics of boating safety, operation, and the emergency equipment on board like this one, could mean the difference between life and death for passengers, captain, and crew.

Posted in Uncategorized | Tagged Boating Safety, December 2011 Newsletter, Passenger Orientation | Leave a comment

From the Claims Desk

Posted on December 6, 2011 by Dan Longman

The most common problem we see with physical damage claims is late reporting or repairing damage before reporting the claim. This is a serious issue because it violates policy requirements and does not allow the insurance company the opportunity to adjust your claim.

When you have a claim or think that you may have a claim it is imperative that certain requirements are followed so the claims process is not jeopardized. They are spelled out in the Duties after an Accident or Loss section of the policy. In this article we review two important requirements of that clause.

1. Notify Charter lakes as soon as possible when you have a claim or think you might have a claim.

2. Allow the insurance company to inspect the damage before repairs are made.

This 1st requirement is extremely important and is the area where we tend to have the most problems when it comes to settling claims. If at anytime you have an incident that has the potential to turn into a claim, a five minute phone call to our claims office can alleviate this reporting requirement. Our claims office can determine in short order if we need to pursue the matter or if we can just make note of the incident and not submit a formal claim. Many time incidents that happen today do not show up for several months. We have to know about incidents when they happen to protect you properly.

With regard to requirement #2, the key here is “before” repairs are made. The reasons for this include the following:

a. The insurance company cannot adjust your claim properly without inspecting the damage before it is repaired. The insurance company has to determine the cause of loss to adjust any claim. If you repair the damage before it can be inspected, you impair their ability to determine the cause of the loss.

b. You remove the insurance companies’ ability to recover from an “at fault” 3rd party that would normally be responsible for the damage to your boat.

Collision with submerged objects account for approximately 60% of all claims we see. We recently changed the policy to expedite the adjustment of submerged object (SSO) claims. This allows us to adjust an SSO loss without prior inspection, thereby speeding up the process by days. The key is to contact Charter Lakes as soon as possible, provide the information we need allowing us to expedite the settlement, getting you back on the water as quickly as possible. One quick phone call can make all the difference.

Your policy has several other requirements under the “Duties after an Accident or Loss” section of you policy. We encourage you to familiarize yourself with them and call Jim Hacker at 800-879-2248 with any questions regarding claims.

Posted in Insurance Claims | Tagged December 2011 Newsletter, Reporting Boat Damage | Leave a comment

Operating Your Business as a Corporation:

Posted on December 5, 2011 by Dan Longman

Many captains operate their business as a corporation but fail to include the corporation on their insurance policy. This can be confusing if you own your boat personally and run your business as a corporation. Who should you insure? The answer is both you and your corporation should be listed as named insured’s on your policy.

Operating your charter business as a corporation is done primarily to transfer the liability of that business to the corporation and shield you from personal liability. To make this transfer complete, the corporation should be listed as a named insured on your charter insurance policy.

If you own your boat personally and lease it to your corporation the same rule applies.

In that case the corporation would be the named insured and you would be listed as an additional insured and loss payee on the policy. If you captain your own vessel we typically name you along with the corporation as named insured’s on the policy.

If a passenger is injured seriously enough to sue you, the lawyers will name you and your corporation in the suit. However, insurance can only defend the person(s) or entities listed on the policy as a named insured. If the corporation is not listed it may not be protected.

There is no charge for naming your corporation as a named insured on your policy so there is no reason not to. You simply need to inform us of the corporation and we will take care of the rest.

The same reasoning is true for Assumed Names or DBA’s. Many captains use an assumed name for marketing purposes. An example would be Captain John Doe doing business as JD’s Fishing Adventures. JD’s Fishing Adventures is an assumed name. Assumed names are typically registered with your state so no one else can use that name. An assumed name can be used by sole proprietors, partnerships or corporations. If you use an assumed name in your business that name should be listed on your insurance policy so you and your business are protected properly.

Please let us know if you operate your business as a corporation or if you operate with an assumed name or both, so we can protect you properly.

Posted in Uncategorized | Tagged Business, December 2011 Newsletter, Protecting your Boat | Leave a comment

Tracking system alerts boat owner it was being stolen

Posted on September 30, 2011 by Mark Van Epps

Another one for the good guys! A Charter Lakes client in Jacksonville Florida was alerted by his GPS tracking system when his boat was stolen this week. He called authorities who responded and caught the thieves red handed with the $300,000 boat and the truck they had stolen as they were headed to Miami. Call Charter Lakes today for recommendations on GPS tracking systems and about any available discounts for having one installed. They definitely work! See the video here.

http://www.wftv.com/news/news/local/tracking-system-alerts-boat-owner-it-was-being-sto/nDxqY/

Posted in Uncategorized | Leave a comment

Benefits of the Fishing Guide Insurance Policy Offered Through the FGA

Posted on March 11, 2011 by Dan Longman

Accidents can happen to even the most experienced captain. Protecting yourself and your customers through proper insurance coverage is the responsibility of every professional fishing guide. The Florida Guides Association has teamed with Charter Lakes Marine Insurance to provide FGA members with an insurance policy that offers very broad protection at a low group rate.

Charter Lakes has developed a Fishing Guide Insurance Policy specifically for members of the Florida Guides Association. The policy combines Physical Damage coverage for your boat, motor and boat equipment with Passenger Liability coverage in one very comprehensive and affordable policy. The following is an explanation of the coverage benefits:

Physical Damage coverage for your boat, motor(s) and boat equipment is written on an Agreed Value Basis. Partial losses are adjusted on a Replacement Cost Basis.

Protection & Indemnity (liability) protects you from bodily injury and property damage liabilities. P&I is the broadest form of passenger vessel liability coverage available. This is a combined single limit policy written on an occurrence basis. The policy includes Pollution Liability, USL&HC and Replacement Vessel liability Coverage. Various limits are available from $ 50,000 to $ 1,000,000 and higher.

Passenger Medical Payments are included at a $ 10,000 limit. Coverage is written on a per Person, per occurrence basis.

Uninsured Boater coverage is included at a $ 10,000 per occurrence limit.

Personal Property is included at a $ 2,500.00 per occurrence limit. This includes clothing, fishing tackle and personal property that belongs to you, your clients or crew. Our policy covers your fishing tackle when it on your boat, in your vehicle or stored at your home or storage facility. Higher limits are available.

Trailer Coverage provides physical damage coverage for your trailer. The policy also provides liability coverage when launching and hauling from the water.

Towing and Emergency Assistance included at a $ 500.00 per occurrence limit. This includes towing your boat to the nearest repair facility, delivery of gas, oil or battery and Trailer Road repair service.

Preferred Risk Premium Discounts and coverage benefits for FGA members that result in substantial savings.

Superior Customer Service. When you have a service request, a boat change or addition or a claim, the customer service your receive from Charter Lakes is second to none. Additional insureds are added to an FGA member policy at no charge.

Unlimited Charter Use. When your boat is not being chartered, the policy covers your personal use of the boat.

Financial Security. This policy is underwritten by the St Paul Travelers insurance company who is rated A+Superior by A.M.Best.

OPTIONAL COVERAGE AVAILABLE TO FGA MEMBERS

Crew Coverage protects you from liabilities that could arise from your employment of a mate or additional captain.

Shoreside Liability will extend liability coverage for you to guide customers to fish from shore or wade fish.

Charterers Legal Liability provide liability coverage for you when you book your customers on other non-owned charter vessels.

Additional Interests. Many guides book trips through referral sources and are asked to name that referral source as an additional insured on their liability policy. Charter Lakes does not charge a policy fee to FGA members for this service.

Replacement Vessel Liability if your boat is laid up due to a covered loss, our policy can extend passenger liability coverage to a replacement boat to keep you in business.

Exhibitors Liability Coverage the liability coverage under our policy can be extended to cover your participation in boat or sport shows where you are required to show liability coverage.

Second Boat Discounts, you can only operate one boat at a time. If you own two boats, and are the sole operator of both boats, we only charge you once for passenger liability.

Peace of mind comes from knowing you and your customers are protected properly. The Fishing Guide Insurance policy endorsed by the FGA provides that high level of protection at a very affordable price.

To receive an insurance quote for your business, contact us at 800-879-2248. Or complete a quote request form online.

Posted in FGA Insurance Program | Tagged FGA Boat Insurance Program | 1 Comment

Welcome to the Helm!

VISA Card Referral Program “Update”

GOOD NEWS! TWIC CARDS NO LONGER REQUIRED FOR SOME MARINERS

Fishing for a Better Economy!

Tracking system alerts boat owner it was being stolen

Benefits of the Fishing Guide Insurance Policy Offered Through the FGA

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