There are mainstream insurance products like Life, Motor and Commercial, and then there are Specialty product lines. Could be linked to HNW, art, jewellery, boats, or even movie production or celebrity events management. But the risks are there to be covered. Let’s dive in.
Super Yachts: Navigating Risk in the World’s Busiest Waters
Here are some thoughts from Calvin Gray, Head of Global Marine, RSA and Intact Insurance
Super yacht mooring has become an increasingly complex risk factor in today’s marine insurance landscape. The surge in global yacht ownership, particularly among younger Ultra High Net Worth (UHNW) individuals, has coincided with growing seasonal pressure on iconic marinas in the Mediterranean, and the expansion of charter activity into less developed ports worldwide.
Berth shortages, infrastructure mismatches, and congestion are no longer isolated issues. They’re becoming structural challenges that affect not only logistics, but liability. Larger and more technologically sophisticated vessels require more from mooring environments, while dynamic positioning and the use of tenders in tighter anchorages introduce new physical and environmental exposures.
Insurers are seeing a wider variety of claims, from hull impacts in crowded harbours to third-party property damage and crew-related incidents. These risks are being driven not only by location, but by evolving usage patterns. Charter turnover, seasonal migration and differing port standards can all contribute to the frequency and severity of incidents.
In response, there’s a growing need for more dynamic risk assessment, built around real-time data, global cruising habits, and a better understanding of operational behaviour. Risk mitigation is no longer just about the yacht, it’s about the entire operating environment, from marina infrastructure to crew training and itinerary planning.
As the market continues to evolve, insurers, owners, and brokers alike will need to collaborate more closely to ensure cover reflects the realities of modern usage, and to keep pace with a super yacht sector that’s more active and ambitious than ever.
Groundworkers, Motorsport and More.
Meanwhile Avid Insurance, the specialist MGA, has announced a new partnership with Starr this month, that will provide fresh underwriting capacity across three specialist liability lines: Groundworkers, Motorsport, and Leisure.
This new agreement marks a major step in Avid’s strategy to grow its commercial liability offering and deliver focused solutions to brokers operating in complex, often underserved, sectors.
John Inwood, Underwriting Director at Avid, said: “We’ve had a strong start to 2025, and this new partnership with Starr represents another exciting step forward for Avid. Each of these three sectors requires dedicated expertise, and we’re proud to be offering brokers targeted products, and specialist underwriting.”
Starr brings over a century of experience, an AM Best rating of “A” (Excellent), and a global footprint spanning more than 100 countries.
Carl Jago, Head of Casualty (UK Retail) at Starr Underwriting Agents, commented: “We are delighted to further strengthen our partnership with Avid by supporting them in these specialist segments. Avid’s proven underwriting expertise and strong track record in these areas have impressed us from the outset. We look forward to working closely with John and his team to deliver best-in-class solutions to brokers and customers.
Africa Specialty, Partnership is The Key
Africa Specialty Risks (“ASR”), the developing markets focused (re)insurance group, recently announced a partnership with Asset Performance Partners (“APP”) to enhance data insights and risk management in the energy insurance sector. As investment from China and other countries transforms the energy sector in the continent, the insurance needs are evolving alongside the market and local regulators;
A graduate of the 2024 Lloyd’s Lab, APP provides real-time operational data on energy assets and actionable insights for operators. Using -performance data and on-site engineers, APP creates unique algorithms tailored to specific energy sectors, enabling operators to optimise performance and identify potential risks or damage early.
This partnership will enhance ASR’s energy underwriting and risk management, including pricing and post-bind client services, ultimately reducing claims and minimising losses. It will also improve ASR’s data on both traditional and renewable energy, enabling better pricing, deductibles, and portfolio composition.
ASR specialises in developing market energy risks, with a particular focus on Africa, across both traditional energy generation and renewables.
Suzan Pardesi, Head of Energy and Deputy Active Underwriter, ASR said: “By partnering with APP, we can align our insurance solutions with the performance of energy assets. The real-time data provided by APP will improve our underwriting, pricing, and risk management, offering energy operators a better chance of avoiding claims while improving asset efficiency.”
Andrew Carr, CEO, APP, added: “We’re thrilled to partner with ASR. This collaboration allows us to expand our platform, providing better asset performance for energy operators while delivering improved insurance outcomes. ASR’s deep understanding of the energy risk landscape in Africa makes them an ideal partner as we grow our global reach and provide the energy sector with better risk management tools.”
High Street Jewellery Shops: Shrinking Market Means a Different Approach
In April Jewellery shop insurance specialist TH March transitioned into an Employee Ownership Trust.
It’s a small change, but significant, as it highlights that new thinking is needed in this retail sector and the wider HNW jewellery and watch insurance market.
The UK jewellery and pawnbroker shop sector is facing challenging times, as armed theft becomes more organised and shoplifting is often a regular event on many High Streets, so store security is more important than ever. The other factor is the decline in face-to-face retailing, as online jewellery and luxury watch buying replaces traditional trips to the shops.
People no longer wish to be seen walking along a street or in a dark multi-storey car park carrying designer/jewellery brand bags. It’s an invitation to be mugged at knifepoint. That means fewer customers in store for jewellers shops, plus those customers will be more likely to purchase safes for storage of expensive items at home. They also want their purchases insured whilst being delivered, for the full value, not a nominal Royal Mail figure. Then there is the issue of wearing jewellery in public at race meetings, family events, weddings etc. – again people would like the full value to be covered, not just a home insurance level of say £1500.
These customer needs are all opportunities for specialty brokers who can match the cover required to the risks involved.
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