
SUPERYACHT #517 May 2005
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Pierluca Impronta, CEO of Marine & Aviation, interviewed by Fabio Petrone
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MARINE & AVIATION Quality as a mission
Pierluca Impronta, our interview with whom we publish below, is
the CEO of an insurance brokerage firm, Marine & Aviation, which,
as the name suggests, specialises in the marine and aviation
sectors. Today, Marine & Aviation offers insurance services
specifically tailored to the property concerned, whether it is a
boat, a ship or a jet, as well as to a company or any other
valuable asset. It thus offers its customers total coverage
applicable to all areas of their activities... their work, their
free time, their hobbies.
"We were the first Italian brokers to have access to Lloyd's of
London's insurance services" - begins Impronta - "and we all know
that the English insurance market is the reference market. This
means that we are able to offer high-quality insurance coverage
and services, proposing detailed solutions to protect managers'
and professionals' activities and assets".
How did you happen to become involved in the world of yachting?
"Let's say that Marine & Aviation's presence in the sailing world
is now a given and is the result of the natural evolution of our
activities in other sectors. We have always dealt with
industrialists, CEOs and the managing directors of the numerous
companies we insure. It was first and foremost they who asked us
for equally effective insurance coverage for their much-loved
boats. This was the input, this was the driving force. So we
organised ourselves in order to be able to offer total insurance
services in this area as well, working out of our Naples and Milan
offices. During the last two years, we have concentrated our
efforts in this sector because our potential customers in the
sailing world are also potential customers in the other sectors we
cover. Hence, as our sailing customers come to appreciate the
quality of our work when it comes to their free-time interests, we
also have the opportunity to interest them in our services for
their professional activities. So our approach, and this is one of
the factors that makes us particularly competitive, is to offer
our customers specifically tailored insurance packages which also
cover their boats..."
You insure boats, but do you also insure the shipyards that build them?
"Yes, we cover the boats' risks but also those inherent to
shipyards and sailing operators, to whom we offer specific, made-
to-measure insurance plans based on analysis of each aspect of
their activities. This all-encompassing risk management is
difficult to obtain elsewhere because insurance companies, the
larger the coverage they provide, the more selective they are of
their customers, offering everything to the good customers and
much less to the others".
What is the strong point of your service?
"Our approach, based on years of experience with both industry and
with insurance holding-companies such as Lloyd's, has taught us to
be very careful, to define and manage risks precisely. The broker
represents the customer, studies the best solutions and identifies
the offers on the international market which are most appropriate
to the customer's needs. The risk is determined by the broker but
always as the customer's representative. The more accurate the
risk determination is, the more guarantee the customer has, both
when the contract is drawn up and if a claim occurs. This is the
only way for liquidation to be appropriate and rapid when an
accident takes place.
Do you insure any type of boat?
"For those who are already our customers with their companies or
any kind of activity, yes, whether it's a question of a 15-m sloop
or a superyacht worth ?15 million. For others, we impose a limit
of ? 50,000, although there is a degree of flexibility".
In the case of superyachts, do you also insure those involved in chartering?
"Naturally, and we give them complete service. Most of these large
boats operate in two seasons, the summer season here in the
Mediterranean and the winter season in the Caribbean. We cover
them at any time. We also cover the transfer to and the period
spent in the Caribbean area, or in any other part of the world.
Our work is not seasonable really because we have a very large,
heterogeneous customer-base. We provide assistance at any time,
including for the month of August, which is the time of year when
most accidents happen at sea".
Still with respect, do you deal with particular risks?
There are two things which we try to offer and which are not
always accepted, partly because they represent a cost and, in any
sector, costs are a major concern. One has to do with the loss of
a charter, that is, if something happens which prevents the asset
from being chartered - if, because of the weather, for example, or
for some other reason, the boat can no longer be chartered. The
other is extended assistance which provides for the immediate
sending of skippers, medical personnel and spare parts when
required. Everything is done in order to ensure a rapid solution
to whatever problems may arise and to enable the activity to
continue or to ensure the prompt return of the boat to its port of
origin, wherever it may be located when it runs into difficulty.
We have no territorial limits".
When you assess the risk, do you take the boat's classification into consideration?
"The boat's certifications count, of course, but so do the age and
the value. Then, as we have said, we consider the boat's usual
routes and seasons. A third element assessed is the history of the
crew working on board as well as that of its owner, including
cases in which the owner is also the skipper, as often happens
with smaller boats".
Are you also able to insure boats which compete in sports events?
"We offer coverage for risks encountered by boats participating in
regattas and we also insure the regattas themselves, just as we
have insured sporting events and even theatre performances and
concerts. As far as regattas are concerned, we insure everything,
from event cancellation to a boat's victory".
In what way?
"Let's consider an America's Cup team, for example, in which case
the crew is often paid in proportion to the result obtained. If
the boat wins, the owner and sponsor are obliged to pay out a
considerable sum in prizes. This is a calculable risk, an event
which Lloyd's of London analyses and for which it offers coverage".
And if the boat doesn't win?
"If a policy is drawn up which covers the risk deriving from the
lack of a major image return or loss of income which would
otherwise have been obtained for a winning sponsor, then the
insurance will also cover this aspect. Certainly, this type of
coverage is not drawn up on the run, off the cuff, it must be
studied and developed carefully, but it is feasible. We are always
working to provide prompt services, such as by taking advantage of
the Internet, where we have set up a system enabling our customers
to consult us in real-time, looking at our policies and all the
related material".
Are your clients able to contact you through the Internet?
"Yes, of course, our site is accessible to them too through the
Marine & Aviation Yacht Club section, although the fastest
solution is to contact us via telephone. This is simpler and more
instinctive".
Finally, do some boats represent a greater risk than others?
"In our experience, the greatest risk involves boats with an
insured value of ? 200,000/ ?300,000, that is, boats belonging to
Sunday sailors, those without serious seagoing experience".
For further information: Marine & Aviation - Via Francesco
Caracciolo 17, 80122 Naples - tel. +39 081 7619711 - fax: +39 081 7619797.
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