1. B OWLINE
Summer 2011
The Marine Trades Newsletter By Insurance Risk & Claims Management Limited
INSIDE THIS ISSUE:
IRCM Launch New Insurance Scheme
Global Record
Circumnavigation
2
for Marine Trades Sector
New Marine Trades 3
Insurance Scheme
Feature on Pendennis 4
Sealine Unveils New 5
SC42 Sports Cruiser
Marine Insurance News 6
IRCM Launch Club 8
Scheme
Why IRCM Can Help 8
You & Your Business
Sealine’s award-winning F42
Specialist Marine Insur- commitment to providing from their existing
ance brokers IRCM gap-free protection. broker. In opening the
have announced the facility to the wider
launch of a brand new broking community we
“With many direct provid-
insurance facility for the are enabling businesses
ers failing to address is-
Marine Sector. The new who wish to remain loyal
sues such as Directors &
Marine Traders’ Com- to their broker to enjoy
Officers’ Liability and Em-
bined policy promises to the benefits of the
ployment Practices Liabil-
deliver competitive pre- Bowline® scheme. We
The Global Circumnavigation ity, we frequently encoun-
Record Attempt Starts Here! miums combined with are also assisting bro-
ter businesses that have
IRCM is supporting Britain’s flexible underwriting. kers by providing them
not been made aware of
Challenge (see Page 2) with a facility that ad-
the extent of their exposure
dresses some of the
Richard Ward, Manag- or the solutions that are
problems they may have
ing Director of IRCM available to them”
experienced in their
said “Bowline® has
dealings with their
been designed by a spe-
IRCM have confirmed that existing markets”.
cialist marine broker
other Marine Insurance
Winner who’s senior staff have,
Brokers will be able to
themselves, spent many For more details on what
access the Bowline®
years working in the the new insurance
Marine Trades facility on
wider Marine Industry. programme can offer
behalf of their clients.
your business, turn to
IRCM sets the new page 3 or telephone the
benchmark in providing “We believe we have put
Richard Ward of IRCM IRCM Marine Trades
insurance services to the together a programme of
Marine Trades Sector said “Many businesses team on 01902 796 793
insurance for the Sector
(see Back Page) that demonstrates our are happy with the service
and support they receive
Telephone 01902 796 793 for further details or visit www.marineinsurance-ircm.co.uk

2. Page 2 B o w li n e® T h e Ma r i n e T r a d e s Ne ws le t t e r
New British Global Circumnavigation Record Attempt
Back in the day, the ceremony was about
laying the keel. In the 21st century it’s about
collecting the aluminium! However, the mo-
ment is no less significant.
On Monday April 4th, global adventurer Alan
Priddy and the team he has selected for an
attempt on the world powerboat circumnavi-
gation record, took their first steps in the
build of their revolutionary new boat. Built
entirely to Lloyds specifications, the design
is 80’ long, 16’ wide, has an estimated top
speed of over 45 knots and a range of 5000
nautical miles.
Alan Priddy’s round-the-World powerboat which will
attempt to break the World Record
It’s not just the twin engine, jet-drive design
that’s cutting edge but the build process will
be breaking new boundaries as well. Forget powerboating and yachting experience
welding pieces together to create the shape behind them. That experience has shown
of the hull, this build will be about creating a them exactly what works and what doesn’t
frame and then shaping aluminium plates and all that knowledge is being put into this
around it – minimising the build time, cutting build. Also supporting the project are a
down on welding and creating an incredibly number of marine industry leading compa-
strong and elegant design. nies who will all be supplying their relevant
expertise.
The build team will consist of Alan Priddy
and his team (including Jan Falkowski and The route for the record attempt is strictly
Clive Tully from Alan's previous record- regulated by the rules of the Union
breaking trips and British Powerboat Cham- Internationale Motonautique (UIM). Those
pion, Shelley Jory-Leigh) and Micklewrights rules dictate that the craft has to pass
Structures Ltd. Micklewrights may be best through the Suez and Panama Canals and
known as fabricators of metal buildings but that the journey must start and finish in the
this means their metal-working skills are same place, though that can be anywhere
second to none. They have been chosen to in the world. The team’s proposed route will
assist in the build because of their out- be made up of five 4,800mile legs, with fuel
standing responses to any technical ques- and provisioning stops supported by an
tions put to them. F1-style pit crew to minimise time spent in
harbour. Anticipated stops include
Gibraltar, Panama, Honolulu, Hong Kong
The build process will be a collaborative one and Singapore (or India).
between the skilled metal workers at
Micklewrights and the circumnavigation
team who have a wealth of long-distance
More information about the project can be found at www.circumnavigationrecord.com

3. B o w lin e T h e M a r i n e T ra d e s N e ws le t te r Page 3
New Bowline® Scheme set to shake up the
Marine Trades Insurance Market
Bowline® is a Combined Marine Traders
insurance policy that is designed by special-
ist brokers who themselves have worked for
many years in the wider marine industry.
The new policy addresses the issues that
have traditionally affected businesses in this
specialist Sector. IRCM’s ethos has long
been to deliver the best possible protection
for the best possible premium. “Cutting
costs, not cover” is a principle the broker
has always stood by.
Bowline® underlines that philosophy by pro-
viding a flexible approach that enables you
to get on with your business without having
to worry about size or value of the vessels
you work on, combined with a competitive
premium that recognises your need to keep
costs to a minimum.
In addition to the standard covers normally
found on Combined Traders policies,
Bowline® provides a suite of bolt-on covers
that ensures you and your business is fully
protected from the exposures that typically SY Adela has recently completed her refit at Pendennis see
remain unaddressed. These include page 4 overleaf for more news and more great pictures
comprehensive Directors and Officers
Liability provision that delivers the vital • Boat Builders
“Entity” extension discussed on page 6. • Hire Fleet Operators
• Marine Engineers
Other insurances provided with Bowline® • Chandlers
that are typically overlooked or not • Boatyards
addressed adequately by some providers • Marinas
include Professional Indemnity, Legal • Dealers & Brokers
Expenses, Product Recall and Intellectual • Chandlers
Property Protection. • Riggers
• Sailmakers
Bowline® is available to a variety of
businesses across the Marine Industry, IRCM’s insurance programmes are
including: supported by their award-winning in-house
claims team.
Telephone 01902 796 793 for further details or visit www.marineinsurance-ircm.co.uk

4. Page 4 B o w li n e® T h e Ma r in e T r ad es Ne ws le t t er
Pendennis completes busiest ever refit season
in 23-year history
The UK’s leading Superyacht builder,
Pendennis has recently completed refit
programmes on no less than 6 vessels.
Amongst the projects completed was refit
work carried out on the schooner Adela who
was launched at the beginning of May. The
schedule of works included updating of her
furnishings by Pendennis’ interior design
team, an engineering overhaul, new
generators, paintwork and electrical work.
This was also the first time that Adela has
had her impressive mainsail replaced since
her rebuild at Pendennis in 1992.
The schooner "Adela" was built in steel/timber
composite in 1903. Designed by W.C. Storey
and built by J.G.Fay & Co of Northam, South-
ampton. She was rewarded by winning the
Kaiser's Cup, shortly after launching.
Her construction was heavy duty and her inte-
rior accommodation represented the best
available in those days "Adela" was used by
her owner, for extensive racing and cruising
till the outbreak of WW1.
The 1992 rebuild should have been com-
pleted in April 1995 but due to the fire at
Pendennis’ facilities in October 1994 the
whole reconstruction process was delayed by
3-4 months. She was launched on April 17th,
1995, to start her new life under sail, again as
"Adela".
In 2000, Adela returned to Pendennis for
lengthening work undertaken to the designs of
German Frers. She was cut in half and
lengthened by 12ft to create more space and
optimise sailing performance (extended from
50.5m to 55.5m).
In 2005 she returned for paint, deckwork, join-
ery and aircon improvements.
The latest project was the first time she had
Pictures Courtesy of Pendennis her mainsail replaced since her rebuild at
Pendennis in 1992.

5. B o w lin e T h e M a r i n e T ra d e s N e ws le t te r Page 5
Sealine Unveil New SC42
Revolutionary new sports cruiser launches this Summer
Sealine have unveiled their plans for their
revolutionary new sports cruiser, the SC42,
due for launch later this summer.
The SC42 is a bold and innovative new de-
sign offering more social space than on any
other cruiser of this size. Perfect for outdoor
living, the SC42 can be transformed from
wind in the hair boating to full protection in a
matter of seconds. The craft features a
unique full length soft top roof system, with
integrated opening side canvases and large
opening side windows which let in the light
and the fresh air. A drop in infill creates a very large sunpad
whilst the backrests from the seating also
One of the most significant design features fold down to create a rear facing sunbed.
of the SC42 is the cockpit layout which
makes maximum use of the full beam width There is safe easy access through the craft
of the boat for seating and entertaining. to the wide forward side decks. The SC42
will deliver a cockpit space like no other.
Key features include four wide forward fac-
ing seats at the helm, a fully integrated The luxurious forward master cabin will have
dashboard, two wet bar areas behind the separate shower and toilet compartments,
helm and two dining tables with two ‘L’ whilst the three berth mid cabin offers five
shaped seating areas port and starboard. different sleeping options plus an ensuite
The seating, on sliders, can be joined to- shower area with a bi fold door separating
gether to create one large ‘C’ shaped the toilet. The saloon has space for eight to
dine in comfort and the galley, with its full
height fridge freezer, has over 2.5 metres of
worktop and plenty of storage.
The new SC42 will be on show at all of the
Autumn boat shows – Cannes, Southampton
and Genoa.
More information about Sealine can be
found at www.sealine.com

6. Page 6 B o w li n e® T h e Ma r i n e T r a d e s Ne ws le t t e r
Marine Directors remain exposed to massive losses
An IRCM survey has revealed that an Directors also need to be aware that their
overwhelming majority of Marine Industry businesses themselves, as well as their own
directors remain exposed to losing their assets are also threatened and that they
personal assets in the event of legal check that any policies they are considering
action being taken against them in their purchasing also includes vital Management
capacity as company directors. Liability cover that also protects the busi-
ness.
Of over 200 business owners surveyed in Not having this protection could prove costly,
the last 2 years, not one was covered by Di- particularly in the present economic climate
rectors & Officers (D&O) Liability Insurance. when employee disputes traditionally
increase. Employment disputes currently
D&O Insurance protects company directors make up over half of all Management
against legal claims and even criminal cases Liability claims.
in areas such as employee disputes, health
& safety breaches and corporate manslaugh- Entry level cover for this protection can be as
ter - vital protection that is not provided by little as £300 per year. Contact the IRCM
their Public Liability or Employers Liability team for further details on how you can
Insurances. protect your business and private assets.
In 2010 there were over 28,000 commercial fires.
Would you seriously consider not insuring your
business against fire?
In the same period there were over 150,000
employment tribunals. You are 5 times more likely
to be summoned to a tribunal than suffer a fire.
Protection is available from under £300 per year.
New Marine Trades Website Launched
IRCM have launched a new Marine Trades & Safety issues, Employment Law and Insur-
website. Not only does it provide up to date ance News specific to your industry.
information on insurance issues affecting
the Marine Industry but it also provides a
Visit our site at
platform for marine businesses to tell the
wider marine community about any new www.marineinsurance-ircm.co.uk
product launches or projects they might be and go to the sign-up box on the right-
working on. hand side of the Home Page to subscribe
You can register on the site for regular news now.
updates that include expert input on Health

7. B o w lin e T h e M a r i n e T ra d e s N e ws le t te r Page 7
Record Marine Trade Compensation Award
A £7.2 MILLION award for compensation businesses to have the right insurance
has been made by the High Court to a Ma- programmes in place to protect them in the
rine Trades employee who sustained a life- event of accidents occurring in the work-
threatening brain injury. place.
The yard-worker was struck on the head by It is essential that business owners deter-
falling metal after a gantry collapsed when he mine whether their sub-contractors are
was working in a boatyard in September working on a Labour Only or Bona Fide
2006. He was given only a five per cent basis as the insurance requirements
chance of survival by doctors after an initial relating to the 2 categories are quite
emergency operation and will require constant different. Getting it wrong could potentially
care for the rest of his life. The award was lead to a catastrophic uninsured loss for the
made against the insurers of the boatyard. business and the personal assets of the
business owner.
The incident demonstrates how even simple
day-to-day activities in boatyards and marinas Ask your broker for clarification of the
can result in catastrophe. It also provides a issues as it relates to your business.
poignant example of the need for Marine
New ERN REQUIREMENT
There is a new requirement that
businesses will have to confirm
their Employers Reference
Number (ERN) or, as it is
commonly known, Employers
PAYE Reference to the insurer
covering the Employers Liability
which is then recorded centrally
with the Employers Liability
Tracing Office (ELTO).
This is so the correct insurer can
be identified where claims are
submitted which can be years The Environment Agency’s requirements for River Thames
after an individual’s employment boat registration, in respect of powered boats, include a man-
datory requirement of Third Party Liability Insurance, with a
may have ceased. This is often
minimum sum insured of £1,000,000.
the situation with certain condi-
tions which manifest themselves Insurance policy checks will be carried out by the Agency on
years later e.g. respiratory dis- 10% of registered vessels each month and the maximum fine
ease or repetitive strain injury. for failing to comply with registration requirements is £1,000.
IRCM are able to provide stand-alone Third Party Liability In-
Ask your broker for further
surance for a wide range of boats based on the River Thames.
details on the new requirements. Our very competitive annual premiums start at only £55.52
(including Tax) for a 3rd Party Liability limit of £3 million.
Call 01902 796 793 for an instant quotation.

8. Page 8 Bowline® The Marine Trades Newsletter
I n s u r an c e R i s k & C l a im s
M an a ge m e nt L im it e d
Why IRCM Can Help You & Your Business
Three Charter Court IRCM is the Marine & Specialist Risks unique and, as such, will require a pro-
Broadlands
Wolverhampton brokerage of the award-winning KGJ gramme tailored to its specific require-
West Midlands Group of Companies. The Group is one ments.
WV10 6TD
of the largest independently owned in-
Tel: 01902 796 793
In an industry that is traditionally very
surance brokers in the UK. The Group
Fax: 01902 796 797 slow to embrace new concepts, IRCM is
has been consistently recognized for its
E: enquiries@ determined to lead the market in intia-
expertise and service standards, regu-
marineinsurance-ircm.co.uk tives that improve the value for money
larly featuring in the UK Insurance Bro-
our customers receive.
ker Awards for services such as cus-
Authorised & Regulated by the tomer service and claims management. We have delivered annual premium
Financial Services Authority
IRCM itself received the Commercial savings of 31% for the past 2 years in
Intermediary of the Year Award for 2010. addition to enhancing the scope of
Winner cover our clients receive with products
IRCM’s management team have exten-
and services essential for modern busi-
sive hands-on experience of owning and
nesses that are often overlooked by our
managing large marine operations. We
Commercial Broker of the Year
competitors.
understand that every business is
IRCM provides bespoke
insurance systems for:
New Marine Clubs Liability Insurance
* Boatbuilders
A new specialist liability
* Marinas insurance scheme for
* Marine Civil Engineers Marine-based clubs that
* Hire Fleet Operators closes the gaps in protec-
tion that clubs are typi-
* Boat Repairers cally exposed to has been
* Boat Yards launched by IRCM. Un-
* Dealers & Brokers derwritten by A Rated
insurers, Hiscox, IRCM’s
* Marine Engineers scheme also delivers
* Marine Manufacturers significant premium sav-
* Marine Distributors ings to clubs.
* Chandlers
Amongst the benefits of
* Sail Makers
the new IRCM policy is
* Yacht &Sailing Clubs the additional abuse cover
that protects not only the affordable premiums. the cost.
* Rowing Clubs
club affected but the indi- Pat Ward highlighted the The new IRCM policy en-
* Pleasure Craft prevalent situation where ables clubs to meet their
vidual against whom alle-
* Classic Craft gations are made. clubs are failing to obtain statutory obligations in
statutory insurance in re- respect of all their volun-
spect of their volunteer teer workers at a fraction
The policy formed part of workers: of the cost clubs have
IRCM’s portfolio of spe- traditionally had to pay”.
cialist products that saw
them shortlisted for as “Many clubs are not
“Schemes Intermediary of aware that they are re- The facility is available
the Year” for 2010. The quired by law to obtain to rowing clubs, sailing
policy is designed to Employers Liability Insur- clubs and other boat-
enable clubs to obtain ance to cover their volun- ing clubs and can be
cover that allows them to teer workers. obtained from IRCM
acquire the levels of “Clubs that have sought to either directly or via
protection modern obtain cover have been your existing insur-
organizations need at unpleasantly surprised at ance broker.