GILL v. ACE AMERICAN INSURANCE COMPANY et al Yachtsman Policy

8/7/2019 GILL v. ACE AMERICAN INSURANCE COMPANY et al Yachtsman Policy

http://slidepdf.com/reader/full/gill-v-ace-american-insurance-company-et-al-yachtsman-policy 1/34

Case 3:10-cv-03305-JAP -DEA Document 1-3 Filed 06/28/10 Page 2 of 2 PageID: 21

Insurance Binder Date: 0112912010

THIS BINDER IS A TEMPORARY INSURANCE CONTRACT, SUBJECT TO THE CONDIOONS SHOWN BELOW.

ProducerCoda: 229911 QuotelPo llcy ID: 874567 Policy Type: Yachtsman

IProducer Phone: 800-631-2147

Fax: 800-548-0501

ICompany

IMARINE UNDERWRITERSAGENCY INC

PO BOX 3667PAWLEYS ISLAND, SC 29585

Named Insured

RAYMOND A GILL Jr

155 GRANGE AVE

FAIR HAVEN, NJ On04

Vessel Descrip tion: 2004,61 ft., VIKING, MOTOR YACHT

HulllDlDocumentation#: VSC61087K304

Vessel Location:

Lay Up Period:

Primary Coverage

Vessel & Englnes(s)

FAIR HAVEN, NJ

12101 to 04101

Uability Coverage (incl. Pollution)

Medical payments (per person)

Uninsured Boater

Limit

$1,300,000

$2,000,000

$25,000

$2,000,000

L&HCA Statutory Umils

Trailer Not Covered

Unscheduled Pers. Property $50,000

Towing & Assistance $10,000

Tender/Dinghy Included

Owner's Uabllity to Crew $2,000,000(1 Paid Crew)

Deductible

$13,000

NlA

$250

Vessel Oed.Applies

IACE American Ins CoI Effective

Date Time

02102/2010 12:01 AM

o Loss Payee

BENEFICIAL SAVINGS BANK

PO BOX 22478

PHILADELPHIA, PA 19110

I expiration

I Date Time

I 0410312010 12:01 AM

o Additional Insured

Engine DescriptiOn: Inboard, Diesel, 1720 h.p.

Supplementsl Coverage Limit Deductible

Navigation Limits: Warranted confined to Atlantic and Gulf coastwise and Inland tributary waters of the United States and Canada between st. John,New Brunswick and Carrabelle, Florida. You may not navigate south of Cumberland Island, Georgia between noon on June 1, and noon November 15th,unless your application states that your primary mooring location is Florida.

S p e c m l C o n d l t r o n s / C H h e r C o v ~ Required undewrlting Items:- Signed application- Copy of owner's boating resume- Copy of Captain's resume (and license if applicable)

- Navigation as described

- Hurricane haulout and Unscheduled tender endorsements apply

Quote option for 2% hull deduclible - $7,986

~ Signature o ~ ~ h e r i z e d - R " $ p r e s e n t a t i v e

(..' ~ ~ .. u ~ Y · ' " · ~ - = - ' - · · ~ . : / Date J

I h9 / / 0This binder may be cancelled by the Insured by surrender of this binder or by written notice to the Insurance Company stating wnetYcancellationwill be effective. This binder may be cancelled by the Insurance Company by notice to the Insured in accordance with the policy conditions. Thisbinder is cancelled when replaced by a policy. If this binder is not replaced by a policy, the Insurance Company is entitled to charge a premium

for the binder according to the Rules and Rates in use by the Insurance Company. This binder is subjecl to the receipt and accepmnce o f a signed

application by the Insurance Company.

of 1

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Insurance Binder Date: 0112912010

THIS BINDER IS A TEMPORARY INSURANCE CONTRACT, SUBJECT TO THE CONDIOONS SHOWN BELOW.

ProducerCoda: 229911 QuotelPo llcy ID: 874567 Policy Type: Yachtsman

IProducer Phone: 800-631-2147

Fax: 800-548-0501

ICompany

IMARINE UNDERWRITERSAGENCY INC

PO BOX 3667PAWLEYS ISLAND, SC 29585

Named Insured

RAYMOND A GILL Jr

155 GRANGE AVE

FAIR HAVEN, NJ On04

Vessel Descrip tion: 2004,61 ft., VIKING, MOTOR YACHT

HulllDlDocumentation#: VSC61087K304

Vessel Location:

Lay Up Period:

Primary Coverage

Vessel & Englnes(s)

FAIR HAVEN, NJ

12101 to 04101

Uability Coverage (incl. Pollution)

Medical payments (per person)

Uninsured Boater

Limit

$1,300,000

$2,000,000

$25,000

$2,000,000

L&HCA Statutory Umils

Trailer Not Covered

Unscheduled Pers. Property $50,000

Towing & Assistance $10,000

Tender/Dinghy Included

Owner's Uabllity to Crew $2,000,000(1 Paid Crew)

Deductible

$13,000

NlA

$250

Vessel Oed.Applies

IACE American Ins CoI Effective

Date Time

02102/2010 12:01 AM

o Loss Payee


PO BOX 22478


I expiration

I Date Time

I 0410312010 12:01 AM

o Additional Insured

Engine DescriptiOn: Inboard, Diesel, 1720 h.p.

Supplementsl Coverage Limit Deductible

Navigation Limits: Warranted confined to Atlantic and Gulf coastwise and Inland tributary waters of the United States and Canada between st. John,New Brunswick and Carrabelle, Florida. You may not navigate south of Cumberland Island, Georgia between noon on June 1, and noon November 15th,unless your application states that your primary mooring location is Florida.

S p e c m l C o n d l t r o n s / C H h e r C o v ~ Required undewrlting Items:- Signed application- Copy of owner's boating resume- Copy of Captain's resume (and license if applicable)

- Navigation as described

- Hurricane haulout and Unscheduled tender endorsements apply

Quote option for 2% hull deduclible - $7,986

~ Signature o ~ ~ h e r i z e d - R " $ p r e s e n t a t i v e

(..' ~ ~ .. u ~ Y · ' " · ~ - = - ' - · · ~ . : / Date J

I h9 / / 0This binder may be cancelled by the Insured by surrender of this binder or by written notice to the Insurance Company stating wnetYcancellationwill be effective. This binder may be cancelled by the Insurance Company by notice to the Insured in accordance with the policy conditions. Thisbinder is cancelled when replaced by a policy. If this binder is not replaced by a policy, the Insurance Company is entitled to charge a premium

for the binder according to the Rules and Rates in use by the Insurance Company. This binder is subjecl to the receipt and accepmnce o f a signed

application by the Insurance Company.

Page 1 of 1

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Important Notice

PLEASE READ CAREFULLY

Enclosed is your ACE Recreational Marine policy. Please be aware we have broadened coverage

on your policy. The following is the addition:

In consideration for the premiwn charged, and no additional cost to you, ACE Recreational

Marine has broadened your coverage to include the Unscheduled Dinghy Tender Endorsement

(lvfA-3Z58a).

Please see form MA-3Z58a (attached) for specifics on the coverage proVided by this endorsement.

We recommend that you review your policy jacket, and contact your agent if you have anyquestions regarding your policy.

MA-25879 (10108)

Important Notice

PLEASE READ CAREFULLY

Enclosed is your ACE Recreational Marine policy. Please be aware we have broadened coverage

on your policy. The following is the addition:

In consideration for the premiwn charged, and no additional cost to you, ACE Recreational

Marine has broadened your coverage to include the Unscheduled Dinghy Tender Endorsement

(lvfA-3Z58a).

Please see form MA-3Z58a (attached) for specifics on the coverage proVided by this endorsement.

We recommend that you review your policy jacket, and contact your agent if you have anyquestions regarding your policy.

MA-25879 (10108)




ACE Producer CompensationPractices & Policies

ACE believes that policyholders should have access to information about ACE's practices and policies related to the payment of

compensation to brokers and independent agents. You can obtain that information by accessing our website at

http://www.aceproducercompensation.com or by calling the following toll-free telephone number: 1-866-512-2862.

ALL-20887 (10/06)

ACE Producer CompensationPractices & Policies

ACE believes that policyholders should have access to information about ACE's practices and policies related to the payment of

compensation to brokers and independent agents. You can obtain that information by accessing our website at

http://www.aceproducercompensation.com or by calling the following toll-free telephone number: 1-866-512-2862.

ALL-20887 (10/06)




Yachtsntan

Policy

Policy Number: YKR Y0859076A

NEW

a ~ : ~ n ~ ; , ; ; r u a t l o l l i a ; 1 n ~ a d n e u t l s u r a n c : e

Agency Code, Name & Address

229911

MARINE UNDERWRITERS AGENCY INC

PO BOX 3667

PAWLEYS ISLAND, SC 29585

This is your Yachtsman Policy's Declarations Page. Please read carefully. It gives you important facts about your

coverage.

The Company Providing This Insurance

The Named Insured Under This Policy:

Address:

The Vessel Covered By This Policy

(YEAR BUlL1') (LENGTH) (MAKE)

2004 61 ' VIKING

ACE AMERICAN INSURANCE COMPANY

43 6 Walnut S t r e e t , P.O. Bo x 1000

Ph i l a , PA 19106-3703

(NAME)

RAYMOND A GILL JR.

15 5 GRANGE AVE

FAIR HAVEN, NJ 07704

(NAME)

'CONTINUANCE'(MODEL)

This policy will take effect on 2/2/2010 and end on

MOTOR YACHT

2/2 /2011

It will.begin and end at 12:01 A.M. standard time, at the place where this poli cy was issued.

(DOC OR HULL. IDENT NO)

VSC61087K304

In renll11 for the "Total Premium," listed below, we agree to provide the insurance coverages for which a premium is shown in the chaItbelow.

COVERAGE PROVIDED-- AMOUNT OF

PARTS COVERAGES INSURANCE

A

B

C

D

E

F

G

Property Damage

Windstorm Deductible

$ 1,300,000

Commercial Towing & Assistance $ 1 0 , 0 00Liability Coverage $ 2, 00 0 , 0 00

Medical Payments $ 25 , 0 00

Uninsured Boater $ 2, 000 , 0 00

L&HCA $ Statutory Limits

Trailer $ Not CoveredPersonal Property $ 5 0 , 0 00

Premium Bearing Endt(s): See Attached Endorsements

DEDUCTIBLE

AMOlJNT

$

$ Not$

13,000

Appl icab le

$

$

$

$$

$

oooo

25 0

PREMIUM

$ 8,200

$ 0$ 0$ 1,146

$ 0

$ 0

$ (included in "B" if any)

$$

$

o27 0

TOTAL PREMIUM $ 9,616

LIMITS ON USE: See Navigation Warranty MA-5C62

ENI)ORSEMENTS: ALL20887 ALL21101 MA-14558a MA-17460 MA-1X0ge MA-25879 MA-27903 MA-3Z58a

MA-3Z59b MA-4656b MA-5C62d MA-8301f

Lay-up Warranty - It is warranted the vessel will be laid up for part of the year, the dates are:

From noon: 12/01 To noon: 04/01

Laid up Ashore xl If this box is marked, you agree to lay-up your vessel ashore during the above period.

LOSS P AVEE: We will make payments for Part A: Property Damage losses to the Assured and


Countersigned at

this day of

MA-7N39j (04/09)

PO BOX 22478


INSURED COPY

, Agent

Yachtsntan

Policy

Policy Number: YKR Y0859076A

NEW

a ~ : ~ n ~ ; , ; ; r u a t l o l l i a ; 1 n ~ a d n e u t l s u r a n c : e

Agency Code, Name & Address

229911

MARINE UNDERWRITERS AGENCY INC

PO BOX 3667

PAWLEYS ISLAND, SC 29585

This is your Yachtsman Policy's Declarations Page. Please read carefully. It gives you important facts about your

coverage.

The Company Providing This Insurance

The Named Insured Under This Policy:

Address:

The Vessel Covered By This Policy

(YEAR BUlL1') (LENGTH) (MAKE)

2004 61 ' VIKING


43 6 Walnut S t r e e t , P.O. Bo x 1000

Ph i l a , PA 19106-3703

(NAME)

RAYMOND A GILL JR.

15 5 GRANGE AVE

FAIR HAVEN, NJ 07704

(NAME)

'CONTINUANCE'(MODEL)

This policy will take effect on 2/2/2010 and end on

MOTOR YACHT

2/2 /2011

It will.begin and end at 12:01 A.M. standard time, at the place where this poli cy was issued.

(DOC OR HULL. IDENT NO)

VSC61087K304

In renll11 for the "Total Premium," listed below, we agree to provide the insurance coverages for which a premium is shown in the chaItbelow.

COVERAGE PROVIDED-- AMOUNT OF

PARTS COVERAGES INSURANCE

A

B

C

D

E

F

G

Property Damage

Windstorm Deductible

$ 1,300,000

Commercial Towing & Assistance $ 1 0 , 0 00Liability Coverage $ 2, 00 0 , 0 00

Medical Payments $ 25 , 0 00

Uninsured Boater $ 2, 000 , 0 00

L&HCA $ Statutory Limits

Trailer $ Not CoveredPersonal Property $ 5 0 , 0 00

Premium Bearing Endt(s): See Attached Endorsements

DEDUCTIBLE

AMOlJNT

$

$ Not$

13,000

Appl icab le

$

$

$

$$

$

oooo

25 0

PREMIUM

$ 8,200

$ 0$ 0$ 1,146

$ 0

$ 0

$ (included in "B" if any)

$$

$

o27 0

TOTAL PREMIUM $ 9,616

LIMITS ON USE: See Navigation Warranty MA-5C62

ENI)ORSEMENTS: ALL20887 ALL21101 MA-14558a MA-17460 MA-1X0ge MA-25879 MA-27903 MA-3Z58a

MA-3Z59b MA-4656b MA-5C62d MA-8301f

Lay-up Warranty - It is warranted the vessel will be laid up for part of the year, the dates are:

From noon: 12/01 To noon: 04/01

Laid up Ashore xl If this box is marked, you agree to lay-up your vessel ashore during the above period.

LOSS P AVEE: We will make payments for Part A: Property Damage losses to the Assured and


Countersigned at

this day of

MA-7N39j (04/09)

PO BOX 22478


INSURED COPY

, Agent




TRADE OR ECONOMIC SANCTIONS ENDORSEMENT

Named InsuredRAYMOND A GILL JR.

Policy Symbol I Policy Number Policy Period

YKR Y0859076A

Issued By (Name ofInsurance Company)


Endorsement Number

Effective Date of Endorsement

2/2/2010

Insert Ibe policy number. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

This insurance does not apply to the extent that trade or economic sanctions or other laws or regulations prohibit us from

providing insurance, including, but not limited to, the payment of claims. All other terms and conditions of the policy remain . Iunchanged.

Authorized Agent

ALL-21101 (11/06) Ptd. in U.S.A. Page 1 of 1

TRADE OR ECONOMIC SANCTIONS ENDORSEMENT


Policy Symbol I Policy Number Policy Period

YKR Y0859076A



Endorsement Number


2/2/2010

Insert Ibe policy number. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.

This insurance does not apply to the extent that trade or economic sanctions or other laws or regulations prohibit us from

providing insurance, including, but not limited to, the payment of claims. All other terms and conditions of the policy remain . Iunchanged.

Authorized Agent

ALL-21101 (11/06) Ptd. in U.S.A. Page 1 of 1




ACE INA PRIVACY STATEMENT

The ACE INA group of companies strongly believes in maintaining the privacy of infolIDation we collect about individuals. We

want you to understand how and why we use and disclose the collected infolIDation. The following provides details of our practices

and procedures for protecting the security of nonpublic personal infolIDation that we have collected about individuals. This privacy

statement applies to policies underwritten by the ACE INA group member companies listed below.

INFORMATION WE COLLECT

The infolIDation we collect will vary depending on the type of product or service individuals seek or purchase, and may include:

•

•

•

Information we receive from individuals, such as their name, address, age, phone number, social security number, assets,

income, or beneficiaries;

Infommtion about individuals' transactions with us, with our affiliates, or with others, such as policy coverage, premium,

payment history, motor vehicle records; and

Infom1ation we receive from a consumer reporting agency, such as a credit history.

INFORMATION WE DISCLOSE

We do not disclose any personal infolIDation to anyone except as is necessary in order to provide our products or services to a

person, or otherwise as we are required or permitted by law.

We may disclose any of the infolIDation that we collect to companies that perfolID marketing services on our behalf or to other

financial institutions with whom we have j oint marketing agreements.

THE RIGHT TO VERIFY THE ACCURACY OF INFORMATION WE COLLECT

Keeping infolIDation accurate and up to date is important to us. Individuals may see and correct their personal infolIDation that we

collect except for infolIDation relating to a claim or a criminal or civil proceeding.

CONFIDENTIALITY AND SECURITY

We restrict access to personal infolIDation to our employees, our affiliates' employees, or others who need to know that infolIDation

to service the account or in the course of conducting our normal business operations. We maintain physical, electronic, and

procedural safeguards to protect personal infolIDation. .

Rec. Marine

ACE INA PRIVACY STATEMENT

The ACE INA group of companies strongly believes in maintaining the privacy of infolIDation we collect about individuals. We

want you to understand how and why we use and disclose the collected infolIDation. The following provides details of our practices

and procedures for protecting the security of nonpublic personal infolIDation that we have collected about individuals. This privacy

statement applies to policies underwritten by the ACE INA group member companies listed below.

INFORMATION WE COLLECT

The infolIDation we collect will vary depending on the type of product or service individuals seek or purchase, and may include:

•

•

•

Information we receive from individuals, such as their name, address, age, phone number, social security number, assets,

income, or beneficiaries;

Infommtion about individuals' transactions with us, with our affiliates, or with others, such as policy coverage, premium,

payment history, motor vehicle records; and

Infom1ation we receive from a consumer reporting agency, such as a credit history.

INFORMATION WE DISCLOSE

We do not disclose any personal infolIDation to anyone except as is necessary in order to provide our products or services to a

person, or otherwise as we are required or permitted by law.

We may disclose any of the infolIDation that we collect to companies that perfolID marketing services on our behalf or to other

financial institutions with whom we have j oint marketing agreements.

THE RIGHT TO VERIFY THE ACCURACY OF INFORMATION WE COLLECT

Keeping infolIDation accurate and up to date is important to us. Individuals may see and correct their personal infolIDation that we

collect except for infolIDation relating to a claim or a criminal or civil proceeding.

CONFIDENTIALITY AND SECURITY

We restrict access to personal infolIDation to our employees, our affiliates' employees, or others who need to know that infolIDation

to service the account or in the course of conducting our normal business operations. We maintain physical, electronic, and

procedural safeguards to protect personal infolIDation. .

Rec. Marine




CONTACTING US

If you have any questions about this privacy statement or would like to learn more about how we protect privacy, please write to us

at ACE INA Customer Services, P.O. Box 1000, 436 Walnut Street, WA04F, Philadelphia, PA 19106. Please include the policy

number on any correspondence with us.

ACE American Insurance Company

ACE Fire Underwriters Insurance Company

ACE Indemnity Insurance Company

ACE Property and Casualty Insurance Company

Atlantic Employers Insurance Company

Bankers Standard Fire and Marine Company

Bankers Standard Insurance Company

Century Indemnity Company

Illinois Union Insurance Company

Indemnity Insurance Company of North America

Insurance Company of North America

Pacific Employers Insurance Company

Westchester Fire Insurance Company

Westchester Surplus Lines Insurance Company

ESlS, Inc.

CONTACTING US

If you have any questions about this privacy statement or would like to learn more about how we protect privacy, please write to us

at ACE INA Customer Services, P.O. Box 1000, 436 Walnut Street, WA04F, Philadelphia, PA 19106. Please include the policy

number on any correspondence with us.


ACE Fire Underwriters Insurance Company

ACE Indemnity Insurance Company

ACE Property and Casualty Insurance Company

Atlantic Employers Insurance Company

Bankers Standard Fire and Marine Company

Bankers Standard Insurance Company

Century Indemnity Company

Illinois Union Insurance Company



Pacific Employers Insurance Company

Westchester Fire Insurance Company

Westchester Surplus Lines Insurance Company

ESlS, Inc.




GENERAL AMENDATORY ENDORSEMENT


Endorsement Number

Policy Symbol IPolicy Number Policy Period Effective Date of Endorsement

YKR Y0859076A 2/2/2010 TO 2/2/2011 2/2/2010Issued By (Name ofInsurance Company)


Insert the policy munber. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

It is agreed and understood that the policy to which this endorsement is attached is modified as follows:

1. The following terms are added to the DEFINITIONS section of your policy:

Constructive Total Loss means a loss in which the cost of recovering and/or repairing your vessel as shown on the

Declarations Page is greater than the PART A: PROPERTY DAMAGE AMOUNT OF INSURANCE as shown on the

Declarations Page.

Occurrence means a loss or accident to which this insurance applies and which takes place within the policy period

appearing upon the Declarations Page of this policy.

Pollution means Property Damage, clean up costs or containment expenses imposed by any federal, state, or local statutes

or regulation or reasonably incurred by you arising out of the sudden and accidental discharge, spillage, leakage or emission

of waste, oil, fuel, petroleum or chemical products.

Property Damage means accidental, direct physical loss or damage to tangible property arising from an Occurrence.

Tangible property does not include money, stocks, bonds, deeds, mortgages, or other instruments of a similar nature.

Total Loss means your vessel shown on the Declarations Page is completely lost or destroyed.

2. The Policy at PART A: PROPERTY DAMAGE COVERAGE is amended as follows:

i . The PART A: PROPERTY DAMAGE COVERAGE, PERILS INSURED AGAINST clause is deleted andreplaced by the following:

PERILS INSURED AGAINST: We will pay for Property Damage to the Insured Property caused by an

Occurrence as well as PROTECTION AGAINST LOSS charges, except as excluded in this policy or by

endorsement.

ii. The PART A: PROPERTY DAMAGE COVERAGE, SALVAGE CHARGES clause is deleted from the

policy.

iii The following PROTECTION AGAINST LOSS clause is added to the PART A: PROPERTY DAMAGE

COVERAGE section of the policy as follows:

PROTECTION AGAINST LOSS: In the event of an Occurrence, it shall be your responsibility to use all

lawful and reasonable means to recover or protect the Insured Property from further loss. We will pay the

reasonable cost of such protection in addition to any other payments for loss under PART A: PROPERTY

DAMAGE COVERAGE of this policy. The amount payable under this provision shall not exceed the amount of

insurance applicable to PART A: PROPERTY DAMAGE COVERAGE as shown on the Declarations Page, nor

reduce that limit. All coverage provided under PROTECTION AGAINST LOSS will terminate immediately after

payment by us of a Total Loss or Constructive Total Loss.

MA-27903 (08/09) Ptd. in U.S.A. Pagelof2

GENERAL AMENDATORY ENDORSEMENT


Endorsement Number

Policy Symbol IPolicy Number Policy Period Effective Date of Endorsement

YKR Y0859076A 2/2/2010 TO 2/2/2011 2/2/2010Issued By (Name ofInsurance Company)


Insert the policy munber. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

It is agreed and understood that the policy to which this endorsement is attached is modified as follows:

1. The following terms are added to the DEFINITIONS section of your policy:

Constructive Total Loss means a loss in which the cost of recovering and/or repairing your vessel as shown on the

Declarations Page is greater than the PART A: PROPERTY DAMAGE AMOUNT OF INSURANCE as shown on the

Declarations Page.

Occurrence means a loss or accident to which this insurance applies and which takes place within the policy period

appearing upon the Declarations Page of this policy.

Pollution means Property Damage, clean up costs or containment expenses imposed by any federal, state, or local statutes

or regulation or reasonably incurred by you arising out of the sudden and accidental discharge, spillage, leakage or emission

of waste, oil, fuel, petroleum or chemical products.

Property Damage means accidental, direct physical loss or damage to tangible property arising from an Occurrence.

Tangible property does not include money, stocks, bonds, deeds, mortgages, or other instruments of a similar nature.

Total Loss means your vessel shown on the Declarations Page is completely lost or destroyed.

2. The Policy at PART A: PROPERTY DAMAGE COVERAGE is amended as follows:

i . The PART A: PROPERTY DAMAGE COVERAGE, PERILS INSURED AGAINST clause is deleted andreplaced by the following:

PERILS INSURED AGAINST: We will pay for Property Damage to the Insured Property caused by an

Occurrence as well as PROTECTION AGAINST LOSS charges, except as excluded in this policy or by

endorsement.

ii. The PART A: PROPERTY DAMAGE COVERAGE, SALVAGE CHARGES clause is deleted from the

policy.

iii The following PROTECTION AGAINST LOSS clause is added to the PART A: PROPERTY DAMAGE

COVERAGE section of the policy as follows:

PROTECTION AGAINST LOSS: In the event of an Occurrence, it shall be your responsibility to use all

lawful and reasonable means to recover or protect the Insured Property from further loss. We will pay the

reasonable cost of such protection in addition to any other payments for loss under PART A: PROPERTY

DAMAGE COVERAGE of this policy. The amount payable under this provision shall not exceed the amount of

insurance applicable to PART A: PROPERTY DAMAGE COVERAGE as shown on the Declarations Page, nor

reduce that limit. All coverage provided under PROTECTION AGAINST LOSS will terminate immediately after

payment by us of a Total Loss or Constructive Total Loss.

MA-27903 (08/09) Ptd. in U.S.A. Pagelof2




3. The PART B: LIABILITY COVERAGE, LIMITS OF LIABILITY section of the policy is deleted and replaced by the

following:

LIMITS OF LIABILITY: We will pay no more than the PART B: LIABILITY COVERAGE AMOUNT OF

INSURANCE shown on the Declarations Page arising out of anyone (1) Occurrence, regardless of the number of

Covered Persons involved, claims made or suits brought; or persons or organizations making claims or bringing suits.

However, with respect to Pollution, we will pay up to $800,000 per Occurrence, which is in addition to the PART B:

LIABILITY COVERAGE AMOUNT OF INSURANCE.

4. The following condition has been added to the GENERAL CONDITIONS AND EXCLUSIONS section of the policy:

TOWING EXCLUSION: We do not provide coverage for loss or damage resulting from your vessel as shown on the

Declarations Page towing any other vessel, excepting:

a. a dinghy/tender owned by you.

b. non-owned vessels in distress, provided there is no consideration for your services.

We do not provide coverage for loss or damage to your vessel as shown on the Declarations Page while being towed except

by a commercial tow operation for the purpose of attempting to aid your vessel in distress.

5. The follov,ring condition has been added to the GENERAL CONDITIONS AND EXCLUSIONS section of the policy:

LIMITS ON USE: Unless we have provided you with prior written authorization to deviate from the navigation limit

stated on the Declarations Page, no coverage exists under this policy for any claim, suit, loss, damage, expense, liability or

Occurrence where the Insured Property is navigated, afloat, operated, used, stored, ashore, on land, in transit, transported

or otherwise located outside the navigation limit specified on the Declarations Page.

However, if the Navigation Warranty included in this policy, or the Lay-Up Warranty shown on the Declarations Page, is

breached due to matters beyond your or a Covered Person's control, the policy will remain in effect, but only if you give

us written notice of the breach within ten (10) days after the breach and pay any additional premiums due for this extension

of coverage.

6. PROTECTION AGAINST LOSS clause is deleted in its entirety from GENERAL PROVISIONS IN THE EVENT

OF LOSS section of the policy. PROTECTION AGAINST LOSS was added to the PART A: PROPERTY DAMAGE

COVERAGE section of the policy as provided above in paragraph 2.iii. of this endorsement.

ALL OTHER POLICY TERMS AND CONDITIONS REMAIN UNCHANGED.

Authorized Agent

MA-27903 (08/09) Ptd. in U.S.A. Page 2 of2

3. The PART B: LIABILITY COVERAGE, LIMITS OF LIABILITY section of the policy is deleted and replaced by the

following:

LIMITS OF LIABILITY: We will pay no more than the PART B: LIABILITY COVERAGE AMOUNT OF

INSURANCE shown on the Declarations Page arising out of anyone (1) Occurrence, regardless of the number of

Covered Persons involved, claims made or suits brought; or persons or organizations making claims or bringing suits.

However, with respect to Pollution, we will pay up to $800,000 per Occurrence, which is in addition to the PART B:

LIABILITY COVERAGE AMOUNT OF INSURANCE.

4. The following condition has been added to the GENERAL CONDITIONS AND EXCLUSIONS section of the policy:

TOWING EXCLUSION: We do not provide coverage for loss or damage resulting from your vessel as shown on the

Declarations Page towing any other vessel, excepting:

a. a dinghy/tender owned by you.

b. non-owned vessels in distress, provided there is no consideration for your services.

We do not provide coverage for loss or damage to your vessel as shown on the Declarations Page while being towed except

by a commercial tow operation for the purpose of attempting to aid your vessel in distress.

5. The follov,ring condition has been added to the GENERAL CONDITIONS AND EXCLUSIONS section of the policy:

LIMITS ON USE: Unless we have provided you with prior written authorization to deviate from the navigation limit

stated on the Declarations Page, no coverage exists under this policy for any claim, suit, loss, damage, expense, liability or

Occurrence where the Insured Property is navigated, afloat, operated, used, stored, ashore, on land, in transit, transported

or otherwise located outside the navigation limit specified on the Declarations Page.

However, if the Navigation Warranty included in this policy, or the Lay-Up Warranty shown on the Declarations Page, is

breached due to matters beyond your or a Covered Person's control, the policy will remain in effect, but only if you give

us written notice of the breach within ten (10) days after the breach and pay any additional premiums due for this extension

of coverage.

6. PROTECTION AGAINST LOSS clause is deleted in its entirety from GENERAL PROVISIONS IN THE EVENT

OF LOSS section of the policy. PROTECTION AGAINST LOSS was added to the PART A: PROPERTY DAMAGE

COVERAGE section of the policy as provided above in paragraph 2.iii. of this endorsement.

ALL OTHER POLICY TERMS AND CONDITIONS REMAIN UNCHANGED.

Authorized Agent

MA-27903 (08/09) Ptd. in U.S.A. Page 2 of2




Signatures

The only signatures applicable to this policy are those J'epresenting the company named on the first page of the

declarations.

By signing and delivering the policy to you, we state that it is a valid contract when countersigned by our authorized

representative.


Philadelphia, Pennsylvania

Indemnity Insurance Company of North AmericaPhiladelphia, Pennsylvania

MA-IX0ge (05/05)



ACE Fire Underwriters Insurance CompanyPhiladelphia, Pennsylvania

Signatures

The only signatures applicable to this policy are those J'epresenting the company named on the first page of the

declarations.

By signing and delivering the policy to you, we state that it is a valid contract when countersigned by our authorized

representative.



Indemnity Insurance Company of North AmericaPhiladelphia, Pennsylvania

MA-IX0ge (05/05)



ACE Fire Underwriters Insurance CompanyPhiladelphia, Pennsylvania




UNSCHEDULED DINGHY - TENDER ENDORSEMENT

Named InsuredRAYMOND A GILL JR .

Policy Symbol IPolicy Number Policy Period

YKR Y0859076A 2/2/2010 TO 2/2/2011



Endorsement Number

Ves se l l


2/2/2010

Insert the policy number. The remainder of the infOITIlation is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

In consideration of the premium charged, covered losses to a dinghy/tender (including propulsion unit) included as Insured

Property under this policy shall be subject to a $250.00 deductible, providing the overall length of the dinghy/tender shall not

exceed 17' and the maximum horsepower for any propulsion unit shall not exceed 40 hp.

The most we will pay for any dinghy/tender and/or propulsion unit is their actual cash value, which is defined as replacement

cost less depreciation.

Should a covered loss to both the dinghy/tender and the insured yacht shown in the Declarations Page exceed the Part A:

Property Damage Deductible Amount, the $250.00 deductible applicable to the dinghy/tender shall not apply.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANG ED.

Authorized Agent

MA-3Z58a (l0/08) Ptd. in U.S.A.

UNSCHEDULED DINGHY - TENDER ENDORSEMENT



YKR Y0859076A 2/2/2010 TO 2/2/2011



Endorsement Number

Ves se l l


2/2/2010

Insert the policy number. The remainder of the infOITIlation is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

In consideration of the premium charged, covered losses to a dinghy/tender (including propulsion unit) included as Insured

Property under this policy shall be subject to a $250.00 deductible, providing the overall length of the dinghy/tender shall not

exceed 17' and the maximum horsepower for any propulsion unit shall not exceed 40 hp.

The most we will pay for any dinghy/tender and/or propulsion unit is their actual cash value, which is defined as replacement

cost less depreciation.

Should a covered loss to both the dinghy/tender and the insured yacht shown in the Declarations Page exceed the Part A:

Property Damage Deductible Amount, the $250.00 deductible applicable to the dinghy/tender shall not apply.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANG ED.

Authorized Agent

MA-3Z58a (l0/08) Ptd. in U.S.A.




FIRE EXTINGUISHING SYSTEM AGREEMENT



YKR Y0859076A 2/2/2010 TO 2/2 /2011



Endorsement Number

Ves s e l l


2/2/2010

The above is required to be completed only when this endorsement is issued subsequent to the preparation of the policy.

You agree that your yacht is equipped with a built-in and automatic system of fire extinguishing apparatus, properly installed

in the engine room and maintained in good and efficient working order.

ALL OTHER TERMS, CONDITIONS AND VALUATIONS REMAINING UNCHANGED

Authorized Agent

MA-4656bPtd in U.SA

FIRE EXTINGUISHING SYSTEM AGREEMENT



YKR Y0859076A 2/2/2010 TO 2/2 /2011



Endorsement Number

Ves s e l l


2/2/2010

The above is required to be completed only when this endorsement is issued subsequent to the preparation of the policy.

You agree that your yacht is equipped with a built-in and automatic system of fire extinguishing apparatus, properly installed

in the engine room and maintained in good and efficient working order.

ALL OTHER TERMS, CONDITIONS AND VALUATIONS REMAINING UNCHANGED

Authorized Agent

MA-4656bPtd in U.SA




ATLANTIC COAST NAVIGATION WARRANTY


Poliry Symbol IPolicy Number Policy Period

YKR Y0859076A 2/2/2010 TO 2/2/2011



Endorsement Number

Ves s e l l


2/2/2010

Insert the policy number. The remainder of the infonnatio n is to be compieted only when this endorsem ent is issued subs equent to the preparation of the policy.

Warranted confined to Atlantic and Gulf coastwise and inland tributary waters of the United States and Canada between St.

John, New Bnmswick and Carrabelle, Florida.

You may not navigate south of Cumberland Island, Georgia between noon on June 1, and noon November 15th, unless

your application states that your primary mooring location is Florida.

ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.

Authorized Agent

MA-5C62d (05/06) Ptd. in U.S.A.

ATLANTIC COAST NAVIGATION WARRANTY


Poliry Symbol IPolicy Number Policy Period

YKR Y0859076A 2/2/2010 TO 2/2/2011



Endorsement Number

Ves s e l l


2/2/2010

Insert the policy number. The remainder of the infonnatio n is to be compieted only when this endorsem ent is issued subs equent to the preparation of the policy.

Warranted confined to Atlantic and Gulf coastwise and inland tributary waters of the United States and Canada between St.

John, New Bnmswick and Carrabelle, Florida.

You may not navigate south of Cumberland Island, Georgia between noon on June 1, and noon November 15th, unless

your application states that your primary mooring location is Florida.


Authorized Agent

MA-5C62d (05/06) Ptd. in U.S.A.




CAPTAIN AND CREW LIMITATION

ENDORSEMENT



YKR Y0859076A 2/2/2010 TO 2/2 /2011



Endorsement Number

Ves s e l l


2/2/2010

Insert the policy number. 'The remainder of the infonnation is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

In consideration of the additional premium of $ 270 , it is warranted that there shall not be more than ( 1 ) crew

member(s), including the captain, employed aboard the vessel at anyone time. The maximum limit of liability for coverage

applicable to the Jones Act or under general Maritime Law, per each accident or occurrence is $ 2 ,000 I 000

It is further understood and agreed that in the event additional crew are to be employed, the Insured shall give prior notice to

this Company and pay such addi tional premium as is required. If the Insured shall fail to give such prior notice and at the time

ofloss in respects to crew there is a greater number employed than that which is stated above, the insurance shall respond only

in the proportion that the stated number of crew bears to the number on board at the time of the accident.

Notwithstanding the aforementioned, the Company's maximum limit of liability under PART B: Liability Coverage shall not

exceed the amount of insurance shown for Liability Coverage on the Declarations Page or endorsements attached thereto.


Authorized Agent

MA-8301f (12/03) Ptd. in U.S.A.

CAPTAIN AND CREW LIMITATION

ENDORSEMENT



YKR Y0859076A 2/2/2010 TO 2/2 /2011



Endorsement Number

Ves s e l l


2/2/2010

Insert the policy number. 'The remainder of the infonnation is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

In consideration of the additional premium of $ 270 , it is warranted that there shall not be more than ( 1 ) crew

member(s), including the captain, employed aboard the vessel at anyone time. The maximum limit of liability for coverage

applicable to the Jones Act or under general Maritime Law, per each accident or occurrence is $ 2 ,000 I 000

It is further understood and agreed that in the event additional crew are to be employed, the Insured shall give prior notice to

this Company and pay such addi tional premium as is required. If the Insured shall fail to give such prior notice and at the time

ofloss in respects to crew there is a greater number employed than that which is stated above, the insurance shall respond only

in the proportion that the stated number of crew bears to the number on board at the time of the accident.

Notwithstanding the aforementioned, the Company's maximum limit of liability under PART B: Liability Coverage shall not

exceed the amount of insurance shown for Liability Coverage on the Declarations Page or endorsements attached thereto.


Authorized Agent

MA-8301f (12/03) Ptd. in U.S.A.




PERMANENT CREW WARRANTY



YKR Y0859076A 2/2/2010 TO 2/2/2011



Endorsement Number

Vesse l l


2/2/2010

Insert the policy number. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

The following warranty is added to General Conditions and Exclusions:

It is warranted by the insured that this vessel employs one or more permanent, full time crew to operate and maintain the

insured vessel. Permanent full time crew means that operating and/or maintaining the insured vessel is their only

occupation.

As part of this contract, you are required to provide us with current copies of any licenses the crew may hold, as well as

copies of their resumes.

If there is any change in the operating crew complement, we must be advised within 15 days of any change. In the event of

a loss, if the operating crew information you have provided is no longer current, there may be no coverage under this

policy.

All other terms and conditions remain unchanged.

Authorized Agent

MA-17460 (12/04) Ptd. in U.S.A.

PERMANENT CREW WARRANTY



YKR Y0859076A 2/2/2010 TO 2/2/2011



Endorsement Number

Vesse l l


2/2/2010

Insert the policy number. The remainder of the information is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

The following warranty is added to General Conditions and Exclusions:

It is warranted by the insured that this vessel employs one or more permanent, full time crew to operate and maintain the

insured vessel. Permanent full time crew means that operating and/or maintaining the insured vessel is their only

occupation.

As part of this contract, you are required to provide us with current copies of any licenses the crew may hold, as well as

copies of their resumes.

If there is any change in the operating crew complement, we must be advised within 15 days of any change. In the event of

a loss, if the operating crew information you have provided is no longer current, there may be no coverage under this

policy.

All other terms and conditions remain unchanged.

Authorized Agent

MA-17460 (12/04) Ptd. in U.S.A.




HURRICANE HAULOUT COVERAGE



YKR Y0859076A 2/2/2010 TO 2/2/2011Issued By (Name ofInsurance Company)


Endorsement Number

Ves s e l l


2/2/2010

Insat the policy mmber. The remainder of the infoffilation is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

In consideration of the prernimn charged it is understood and agreed that coverage under Part A: Proper1y Damage Coverage is

extended to cover the following:

If the National Weather Service issues a hurricane watch or warning for the area where your vessel is located, we will share

equally (50%) with you for the reasonable expenses you incur to:

1. have your insured vessel hauled out of the water, stored until the watch or warning has ended and then launched in the

same general area; or

2. have your insured vessel moved to a safe harbor, including any docking or mooring fees.

Expenses for the acquisition of lines, anchors and additional equipment to secure your insured vessel are not included in this

coverage.

The most we will pay for anyone hurricane is $1,000 per occurrence and for anyone policy period is $2,000. The Part A.

Proper1y Damage Deductible Amount does not apply to this coverage


Authorized Agent

MA-3Z59b (l0107) Ptd. in U.S.A.

HURRICANE HAULOUT COVERAGE



YKR Y0859076A 2/2/2010 TO 2/2/2011Issued By (Name ofInsurance Company)


Endorsement Number

Ves s e l l


2/2/2010

Insat the policy mmber. The remainder of the infoffilation is to be completed only when this endorsement is issued subsequent to the preparation of the policy.

In consideration of the prernimn charged it is understood and agreed that coverage under Part A: Proper1y Damage Coverage is

extended to cover the following:

If the National Weather Service issues a hurricane watch or warning for the area where your vessel is located, we will share

equally (50%) with you for the reasonable expenses you incur to:

1. have your insured vessel hauled out of the water, stored until the watch or warning has ended and then launched in the

same general area; or

2. have your insured vessel moved to a safe harbor, including any docking or mooring fees.

Expenses for the acquisition of lines, anchors and additional equipment to secure your insured vessel are not included in this

coverage.

The most we will pay for anyone hurricane is $1,000 per occurrence and for anyone policy period is $2,000. The Part A.

Proper1y Damage Deductible Amount does not apply to this coverage


Authorized Agent

MA-3Z59b (l0107) Ptd. in U.S.A.




Recreational Marine Policy

YachtsmanSM

WindjammerSM

BoatsmanSM

RecreatiollaiMariTle Insurance

One of the ACE Group of Companies

Recreational Marine Policy

YachtsmanSM

WindjammerSM

BoatsmanSM

RecreatiollaiMariTle Insurance

One of the ACE Group of Companies




YACHTSMAN I WINDJAMMER I BOATSMAN POLICY

QUICK REFERENCE

DECLARATIONS PAGE

• Your Name and Address............................... 1• Your Insured Property................................... 1• Policy Period.................................................. 1• Coverages......... ....... ......... .......... ............. ..... 1

• Amounts of Insurance............. ........... ............ 1• Deductible...................................................... 1

• Lay-Up Warranty............................................ 1• Limits on Use.... ................... .................... ...... 1• Loss Payee.................................................... 1

AGREEMENT AND DEFINITIONS

• Agreement..................................... .......... ...... 3• Definitions...................................................... 3

PART A:PROPERTY DAMAGE COVERAGE

• Perils Insured Against.................................... 3• Overland Transport.. ............. .............. ........... 3• Exclusions....... ......... ...... ....... ........................ 4• Equipment on Shore........... ...................... ..... 4• Deductible Amount................... ........... .......... 4• Loss Settlement.... ............. .......... ............ ...... 4• Property Subject to Depreciation........... ........ 4

• Salvage Charges........................................... 4·

• Commercial Towing and Assistance .............. 5

PARTB:LIABILITY COVERAGE

• Perils Insured Against........ ............................ 5• Exclusions................ ............ ........ ............. ..... 5

• Limits of Liability............................................ 5

PARTC:

MEDICAL PAYMENTS COVERAGE

• Perils Insured Against.................. ....... ........... 5• Exclusions...................................................... 5• Loss Settlement.. ......... ....... ................ ........... 5• Medical Payments Proof-of-Loss................... 6• Additional Requirements................................ 6

• Admission of Liability..................................... 6

PARTD:

UNINSURED BOATER COVERAGE

• Perils Insured Against.... .............. ........ .......... 6• Exclusions...................................................... 6

• Loss Settlement............................................. 6

PARTE:

FEDERAL LONGSHOREMEN'S AND

HARBOR WORKERS'

COMPENSATION INSURANCE .................. 6

PARTF:

VESSEL TRAILER COVERAGE

• Perils Insured Against............. ............ .......... 6• Exclusions......... .......... ...... .......... ......... ......... 7• Deductible Amount........ .............. .................. 7• Loss Settlement.... ............ ............................. 7

PARTG:

PERSONAL PROPERTY COVERAGE

• Property Covered.......................................... 7• Exclusions........ ....... ............. ....... ....... ........... 7• Mysterious Disappearance and/or Theft....... 7• Causes of Loss Which Are Covered............. 7• Deductible..................................................... 7• Loss Settlement............................................. 7

GENERAL CONDITIONS AND EXCLUSIONS

• Policy Period.................................................. 8

• Extension of Coverage................. .................. 8

• Broadening Coverage......................... ........... 8• Policy Premium and Renewal............. ........... 8

• Changes in Policy.......................................... 8

• Conformity to State Law................................. 8• Cancelling the Policy............ .................... ...... 8

• Return Premiums................ ............... ............ 8• Operating Other Vessel................................. 8• Use of Vessel................................................. 9• Transfer of Interest.......... ........ ................. ...... 9• Concealment, Misrepresentation or Fraud..... 9• Dishonest, Illegal or Intentional Acts.............. 9• No Benefits to Others..................................... 9

• War, Confiscation and Contamination........... 9

GENERAL PROVISIONS IN

THE EVENT OF LOSS

• Protection Against Loss............................ ..... 9• Abandonment.. .............. ........... ............ .......... 9• Notice of Loss ..........................,..................... 9• Proof-of-Loss.................................................. 9• Claim of Suit Against you.............................. 10• Assistance and Cooperation.......................... 10

• Payment of Loss ............................................ 10

• Our Right to Recover..................................... 10• Salvage.. ...... ............... .......... ......... ........... ..... 10

• Suit Against Us ............................................... 10• Other Insurance.................................. ........... 10

YACHTSMAN I WINDJAMMER I BOATSMAN POLICY

QUICK REFERENCE

DECLARATIONS PAGE

• Your Name and Address............................... 1• Your Insured Property................................... 1• Policy Period.................................................. 1• Coverages......... ....... ......... .......... ............. ..... 1

• Amounts of Insurance............. ........... ............ 1• Deductible...................................................... 1

• Lay-Up Warranty............................................ 1• Limits on Use.... ................... .................... ...... 1• Loss Payee.................................................... 1


• Agreement..................................... .......... ...... 3• Definitions...................................................... 3

PART A:PROPERTY DAMAGE COVERAGE

• Perils Insured Against.................................... 3• Overland Transport.. ............. .............. ........... 3• Exclusions....... ......... ...... ....... ........................ 4• Equipment on Shore........... ...................... ..... 4• Deductible Amount................... ........... .......... 4• Loss Settlement.... ............. .......... ............ ...... 4• Property Subject to Depreciation........... ........ 4

• Salvage Charges........................................... 4·

• Commercial Towing and Assistance .............. 5

PARTB:LIABILITY COVERAGE

• Perils Insured Against........ ............................ 5• Exclusions................ ............ ........ ............. ..... 5

• Limits of Liability............................................ 5

PARTC:

MEDICAL PAYMENTS COVERAGE

• Perils Insured Against.................. ....... ........... 5• Exclusions...................................................... 5• Loss Settlement.. ......... ....... ................ ........... 5• Medical Payments Proof-of-Loss................... 6• Additional Requirements................................ 6

• Admission of Liability..................................... 6

PARTD:

UNINSURED BOATER COVERAGE

• Perils Insured Against.... .............. ........ .......... 6• Exclusions...................................................... 6

• Loss Settlement............................................. 6

PARTE:

FEDERAL LONGSHOREMEN'S AND

HARBOR WORKERS'

COMPENSATION INSURANCE .................. 6

PARTF:

VESSEL TRAILER COVERAGE

• Perils Insured Against............. ............ .......... 6• Exclusions......... .......... ...... .......... ......... ......... 7• Deductible Amount........ .............. .................. 7• Loss Settlement.... ............ ............................. 7

PARTG:

PERSONAL PROPERTY COVERAGE

• Property Covered.......................................... 7• Exclusions........ ....... ............. ....... ....... ........... 7• Mysterious Disappearance and/or Theft....... 7• Causes of Loss Which Are Covered............. 7• Deductible..................................................... 7• Loss Settlement............................................. 7

GENERAL CONDITIONS AND EXCLUSIONS

• Policy Period.................................................. 8• Extension of Coverage................. .................. 8

• Broadening Coverage......................... ........... 8• Policy Premium and Renewal............. ........... 8

• Changes in Policy.......................................... 8

• Conformity to State Law................................. 8• Cancelling the Policy............ .................... ...... 8

• Return Premiums................ ............... ............ 8• Operating Other Vessel................................. 8• Use of Vessel................................................. 9• Transfer of Interest.......... ........ ................. ...... 9• Concealment, Misrepresentation or Fraud..... 9• Dishonest, Illegal or Intentional Acts.............. 9• No Benefits to Others..................................... 9

• War, Confiscation and Contamination........... 9

GENERAL PROVISIONS IN

THE EVENT OF LOSS

• Protection Against Loss............................ ..... 9• Abandonment.. .............. ........... ............ .......... 9• Notice of Loss ..........................,..................... 9• Proof-of-Loss.................................................. 9• Claim of Suit Against you.............................. 10• Assistance and Cooperation.......................... 10

• Payment of Loss ............................................ 10

• Our Right to Recover..................................... 10• Salvage.. ...... ............... .......... ......... ........... ..... 10

• Suit Against Us ............................................... 10• Other Insurance.................................. ........... 10




DECLARATIONS PAGE(Attach Here)

This is not a complete and valid insurance policy withoutan

accompanying Declarations Page.

MA-14558a (04/05) Page 1 of 12

DECLARATIONS PAGE(Attach Here)

This is not a complete and valid insurance policy withoutan

accompanying Declarations Page.

MA-14558a (04/05) Page 1 of 12




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MA-14558a (04/05) Page 2 of 12

This page intentionally left blank.

MA-14558a (04/05) Page 2 of 12




YACHTSMAN I WINDJAMMER I BOATSMANPOLICY


AGREEMENTThis is a legal contract between you and us. We will provide the insurance coverage described in this policy in

return for the premium and the compliance by all covered persons with all applicable provisions of this policy.

DEFINITIONSThroughout this policy, you and your refer to the named insured as shown on the Declarations Page, and

we, us and our refer to the company providing this insurance. In addition, certain words and phrases are

defined as follows:

Insured Property is defined as:a. the vessel(s) shown on the Declarations Page, including spars, sails, machinery, furniture, dinghies/

tenders, outboard motors, fittings and other equipment normally required for the operation ormaintenance of the vessel; personal watercraft, mooring and cradles are excluded;

b. any vessel that you acquire ownership of during the Policy Period; however, you must notify us within 30

days of the time you acquire the vessel and pay any additional premium required; in the event of lossduring this period, we will pay no more than its cost to you subject to a deductible of one (1 %) percent of

the hull value or $250., whichever is greater.

Covered Person is defined as you or any person or legal entity operating your vessel(s) as shown on theDeclarations Page for private pleasure use with your direct and prior permission. It does not include anyperson or legal entity employed by, or the agent of a marina, boat repair yard, yacht club, sales agency, boatservice station or other similar organization. However, we will cover your liability for bodily injury or propertydamage caused by any of these persons or organizations.

Horsepower is defined as that amount stated by the manufacturer as peak-developed horsepower as

measured at the flywheel.

Dinghy/Tender is defined as a small craft owned by you which is used to service and maintain the insuredvessel.

Personal Watercraft is defined as a vessel less than 13' in length upon which the owner sits or standsastride, and is powered by an internal water jet propulsion.

Latent Defect is a flaw in the material which is existing at the time of the building of the vessel or hermachinery and which is not discoverable by the insured through ordinary methods of testing.

Tropical Depressions, Tropical Storms and Hurricanes are defined as those so designated by theNational Weather Service and/or the National Hurricane Center.

Uninsured Boater and Uninsured Owner-Operator means any owner or operator of a vessel, other thanthe vessel named in this policy, who is legally responsible for the accident and:

a. to whom no liability policy applies;b. who cannot be identified, such as a hit-and-run operator.

PART A: PROPERTY DAMAGE COVERAGE

PERILS INSURED AGAINST: We will provide coverage for accidental, direct physical loss or damage toyour insured vessel as well as salvage charges, except as specifically excluded in this policy.

OVERLAND TRANSPORT: We will provide coverage while your vessel is being transported overland,including loading and unloading, provided the distance is 250 miles or less. Distances greater than 250 milesrequire our prior written permission unless the means of conveyance is a trailer owned by you.

MA-14558a (04/05) Page 3 of 12

YACHTSMAN I WINDJAMMER I BOATSMANPOLICY


AGREEMENTThis is a legal contract between you and us. We will provide the insurance coverage described in this policy in

return for the premium and the compliance by all covered persons with all applicable provisions of this policy.

DEFINITIONSThroughout this policy, you and your refer to the named insured as shown on the Declarations Page, and

we, us and our refer to the company providing this insurance. In addition, certain words and phrases are

defined as follows:

Insured Property is defined as:a. the vessel(s) shown on the Declarations Page, including spars, sails, machinery, furniture, dinghies/

tenders, outboard motors, fittings and other equipment normally required for the operation ormaintenance of the vessel; personal watercraft, mooring and cradles are excluded;

b. any vessel that you acquire ownership of during the Policy Period; however, you must notify us within 30

days of the time you acquire the vessel and pay any additional premium required; in the event of lossduring this period, we will pay no more than its cost to you subject to a deductible of one (1 %) percent of

the hull value or $250., whichever is greater.

Covered Person is defined as you or any person or legal entity operating your vessel(s) as shown on theDeclarations Page for private pleasure use with your direct and prior permission. It does not include anyperson or legal entity employed by, or the agent of a marina, boat repair yard, yacht club, sales agency, boatservice station or other similar organization. However, we will cover your liability for bodily injury or propertydamage caused by any of these persons or organizations.

Horsepower is defined as that amount stated by the manufacturer as peak-developed horsepower as

measured at the flywheel.

Dinghy/Tender is defined as a small craft owned by you which is used to service and maintain the insuredvessel.

Personal Watercraft is defined as a vessel less than 13' in length upon which the owner sits or standsastride, and is powered by an internal water jet propulsion.

Latent Defect is a flaw in the material which is existing at the time of the building of the vessel or hermachinery and which is not discoverable by the insured through ordinary methods of testing.

Tropical Depressions, Tropical Storms and Hurricanes are defined as those so designated by theNational Weather Service and/or the National Hurricane Center.

Uninsured Boater and Uninsured Owner-Operator means any owner or operator of a vessel, other thanthe vessel named in this policy, who is legally responsible for the accident and:

a. to whom no liability policy applies;b. who cannot be identified, such as a hit-and-run operator.

PART A: PROPERTY DAMAGE COVERAGE

PERILS INSURED AGAINST: We will provide coverage for accidental, direct physical loss or damage toyour insured vessel as well as salvage charges, except as specifically excluded in this policy.

OVERLAND TRANSPORT: We will provide coverage while your vessel is being transported overland,including loading and unloading, provided the distance is 250 miles or less. Distances greater than 250 milesrequire our prior written permission unless the means of conveyance is a trailer owned by you.

MA-14558a (04/05) Page 3 of 12




EXCLUSIONS: We do not provide coverage under Part A: Property Damage Coverage against loss or

resulting damage from:

a. wear and tear, gradual deterioration, weathering, insects, mold, animals or marine life; however,

coverage is provided for accidental damage resulting from zebra mussels, but only applies to engines,

generators, and pumps that are attached to the insured vessel;

b. marring, scratching or denting;c. osmosis or blistering;

d. manufacturer's defects or defects in designs;e. the cost of replacing or repairing any item having a latent defect that causes damage to your insured

property, however, resulting damage would be covered;

f. corrosion, except electrolytic (stray current) corrosion.

EQUIPMENT ON SHORE: We will provide coverage for all insured property removed temporarily from your

vessel for storage on shore. The amount of insurance on the vessel will be reduced by the amount covered on

shore.

DEDUCTIBLE AMOUNT

a. we will adjust each claim separately for a covered loss to your insured property; the amount of each

adjusted claim will be automatically reduced by the Deductible Amount shown on the Declarations Page;

no deductible will be applied in the event of a total loss to your vessel, except for conditions outlined in

paragraph b below; for deductible purposes, we will treat any two or more covered losses resulting fromthe same accident or occurrence as one claim;

b. if a Windstorm Deductible Amount is shown on the Declarations Page, we will apply that deductible to

covered losses caused by wind, rain, wave or hail when those losses are the result of either a Tropical

Depression, Tropical Storm or Hurricane. This deductible will be in lieu of the Part A: Deductible Amount

shown on the Declarations Page and will be applied to the amount of each loss. It will be applicable to

all partial, total or constructive total losses.

LOSS SETTLEMENT: In the event of loss or damage to your insured property, we will pay the lowest of the

following amounts:

a. the Part A: Property Damage Coverage limit as shown on the Declarations Page;

b. the cost of replacement;

c. the cost to repair with no deduction for depreciation, except as specified in Part A: Property Damage

Coverage and as shown in the Property Subject to Depreciation section.We will pay for a total loss to your vessel and other covered property only if:

a. the vessel is completely lost or destroyed;

b. the cost of recovering and/or repairing the vessel is greater than the amount of insurance shown on theDeclarations Page.

The cost of repairs shall be determined by yacht repair yards, equipment repairers or surveyors agreeable to

us.

The amount we will pay for a total loss shall be reduced by the amount paid for repairs of prior covereddamage not completed at the time of the total loss.

PROPERTY SUBJECT TO DEPRECIATION: In the event of loss or damage to your insured plastic or

canvas coverings, inclusive of all-weather bridge and cockpit enclosures, and dodgers, sails, outboard motors

or outdrive units, machinery inside the vessel which is over seven (7) years old, or components of any of the

preceding items which requires replacement or repair, we will pay the lesser of:a. the actual cash value at the time of loss;

b. the cost to repair subject to depreciation;

c. the cost of replacement.

SALVAGE CHARGES: We will pay for salvage charges you incur arising from a covered loss. Payments

for salvage charges will be in addition to any other payments we make for losses covered by this policy.

However, the most we will pay for salvage charges is the Part A: Property Damage Coverage limit shown on

the Declarations Page. The Part A: Property Damage Coverage Deductible Amount does not apply to this

coverage.

MA-14558a (04/05) Page 4 of 12

EXCLUSIONS: We do not provide coverage under Part A: Property Damage Coverage against loss or


a. wear and tear, gradual deterioration, weathering, insects, mold, animals or marine life; however,

coverage is provided for accidental damage resulting from zebra mussels, but only applies to engines,

generators, and pumps that are attached to the insured vessel;

b. marring, scratching or denting;c. osmosis or blistering;

d. manufacturer's defects or defects in designs;e. the cost of replacing or repairing any item having a latent defect that causes damage to your insured

property, however, resulting damage would be covered;

f. corrosion, except electrolytic (stray current) corrosion.

EQUIPMENT ON SHORE: We will provide coverage for all insured property removed temporarily from your

vessel for storage on shore. The amount of insurance on the vessel will be reduced by the amount covered on

shore.

DEDUCTIBLE AMOUNT

a. we will adjust each claim separately for a covered loss to your insured property; the amount of each

adjusted claim will be automatically reduced by the Deductible Amount shown on the Declarations Page;

no deductible will be applied in the event of a total loss to your vessel, except for conditions outlined in

paragraph b below; for deductible purposes, we will treat any two or more covered losses resulting fromthe same accident or occurrence as one claim;

b. if a Windstorm Deductible Amount is shown on the Declarations Page, we will apply that deductible to

covered losses caused by wind, rain, wave or hail when those losses are the result of either a Tropical

Depression, Tropical Storm or Hurricane. This deductible will be in lieu of the Part A: Deductible Amount

shown on the Declarations Page and will be applied to the amount of each loss. It will be applicable to

all partial, total or constructive total losses.


following amounts:

a. the Part A: Property Damage Coverage limit as shown on the Declarations Page;

b. the cost of replacement;

c. the cost to repair with no deduction for depreciation, except as specified in Part A: Property Damage

Coverage and as shown in the Property Subject to Depreciation section.We will pay for a total loss to your vessel and other covered property only if:

a. the vessel is completely lost or destroyed;

b. the cost of recovering and/or repairing the vessel is greater than the amount of insurance shown on theDeclarations Page.

The cost of repairs shall be determined by yacht repair yards, equipment repairers or surveyors agreeable to

us.

The amount we will pay for a total loss shall be reduced by the amount paid for repairs of prior covereddamage not completed at the time of the total loss.

PROPERTY SUBJECT TO DEPRECIATION: In the event of loss or damage to your insured plastic or

canvas coverings, inclusive of all-weather bridge and cockpit enclosures, and dodgers, sails, outboard motors

or outdrive units, machinery inside the vessel which is over seven (7) years old, or components of any of the

preceding items which requires replacement or repair, we will pay the lesser of:a. the actual cash value at the time of loss;

b. the cost to repair subject to depreciation;

c. the cost of replacement.

SALVAGE CHARGES: We will pay for salvage charges you incur arising from a covered loss. Payments

for salvage charges will be in addition to any other payments we make for losses covered by this policy.

However, the most we will pay for salvage charges is the Part A: Property Damage Coverage limit shown on

the Declarations Page. The Part A: Property Damage Coverage Deductible Amount does not apply to this

coverage.

MA-14558a (04/05) Page 4 of 12




COMMERCIAL TOWING AND ASSISTANCE: We will provide additional protection in the event there is

an emergency situation where you and your vessel are not in imminent danger. The coverage shall be

deemed excess over all other valid and collectible towing assistance benefits. We will reimburse you for thereasonable costs you incur, not to exceed the Commercial Towing And Assistance Amount of Insuranceshown on the Declarations Page, resulting from the following services to your vessel if help is not availableand you must obtain commercial assistance:

a. towing to the nearest place where necessary repairs can be made;b. delivery of fuel, oil, parts or loaned battery (excluding the cost of these items themselves) and

emergency labor, while away from safe harbor.

Neither the policy deductible nor the OTHER INSURANCE paragraph under GENERAL PROVISIONS IN THEEVENT OF LOSS apply to this coverage.

PART B: LIABILITY COVERAGE

PERILS INSURED AGAINST: We will pay sums that you or a covered person become legally obligated topay as a result of the ownership, operation or maintenance of your insured vessel because of:

a. attempted or actual raising, removal or destruction of the wreck of your insured property;b. failure to raise, remove or destroy the wreck of your insured property;c. bodily injury or loss of life;

d. your liability to paid crew as defined in the Jones Act or under general Maritime Law;e. loss or damage to any property;f. pollution or contamination of any kind.

EXCLUSIONS: We do not provide coverage under Part B: Liability Coverage for:a. liability of other covered persons to you, your spouse, or other persons who reside in your household;b. your liability to your spouse, or other persons who reside in your household;c. liability assumed by you under any contract or agreement;d. liability that arises while your insured property is being conveyed except at the point the vessel is hauled

out of the water or launched;

e. fines or other penalties that any government unit requires you to pay;f. punitive damages.

LIMITS OF LIABILITY: We will pay no more than the amount of insurance shown on the Declarations Pagefor all damage or losses resulting from:a. anyone accident or occurrence; with respect to pollution or contamination of any kind, we will pay up to

the Part B: Liability Coverage limit shown on the Declarations Page, or $500,000, whichever is greater;b. any series of accidents or occurrences arising out of the same event; this is the most we will pay

regardless of the number of covered persons involved, claims made, vessels or premiums shown on theDeclarations Page or the number of vessels involved.

PART C: MEDICAL PAYMENTS COVERAGE

PERILS INSURED AGAINST: We will pay for reasonable medical, ambulance, hospital, professionalnursing and funeral costs that become necessary due to accidental bodily injury to persons injured while in,'upon, boarding, leaving or towed behind your insured vessel. We will pay only for those costs incurred withinone year of the date of accident.

EXCLUSIONS: We do not provide coverage under Part C: Medical Payments Coverage for:a. any employee of yours injured while in the course of employment or while using, maintaining or repairing

your insured property;

b. any responsibility for payment assumed by you under contract or agreement;c. anyone who is injured while your insured property is being conveyed, hauled out or launched;d. anyone to or for whom benefits are payable under any state or federal compensation law or act.

LOSS SETTLEMENT: We will pay no more than the amount of insurance shown for Part C: MedicalPayments Coverage on the Declarations Page for all covered costs of each person injured as a result of anyone accident or series of accidents arising out of the same event.

M A ~ 1 4 5 5 8 a (04/05) Page 5 of 12

COMMERCIAL TOWING AND ASSISTANCE: We will provide additional protection in the event there is

an emergency situation where you and your vessel are not in imminent danger. The coverage shall be

deemed excess over all other valid and collectible towing assistance benefits. We will reimburse you for thereasonable costs you incur, not to exceed the Commercial Towing And Assistance Amount of Insuranceshown on the Declarations Page, resulting from the following services to your vessel if help is not availableand you must obtain commercial assistance:

a. towing to the nearest place where necessary repairs can be made;b. delivery of fuel, oil, parts or loaned battery (excluding the cost of these items themselves) and

emergency labor, while away from safe harbor.

Neither the policy deductible nor the OTHER INSURANCE paragraph under GENERAL PROVISIONS IN THEEVENT OF LOSS apply to this coverage.

PART B: LIABILITY COVERAGE

PERILS INSURED AGAINST: We will pay sums that you or a covered person become legally obligated topay as a result of the ownership, operation or maintenance of your insured vessel because of:

a. attempted or actual raising, removal or destruction of the wreck of your insured property;b. failure to raise, remove or destroy the wreck of your insured property;c. bodily injury or loss of life;

d. your liability to paid crew as defined in the Jones Act or under general Maritime Law;e. loss or damage to any property;f. pollution or contamination of any kind.

EXCLUSIONS: We do not provide coverage under Part B: Liability Coverage for:a. liability of other covered persons to you, your spouse, or other persons who reside in your household;b. your liability to your spouse, or other persons who reside in your household;c. liability assumed by you under any contract or agreement;d. liability that arises while your insured property is being conveyed except at the point the vessel is hauled

out of the water or launched;

e. fines or other penalties that any government unit requires you to pay;f. punitive damages.

LIMITS OF LIABILITY: We will pay no more than the amount of insurance shown on the Declarations Pagefor all damage or losses resulting from:a. anyone accident or occurrence; with respect to pollution or contamination of any kind, we will pay up to

the Part B: Liability Coverage limit shown on the Declarations Page, or $500,000, whichever is greater;b. any series of accidents or occurrences arising out of the same event; this is the most we will pay

regardless of the number of covered persons involved, claims made, vessels or premiums shown on theDeclarations Page or the number of vessels involved.

PART C: MEDICAL PAYMENTS COVERAGE

PERILS INSURED AGAINST: We will pay for reasonable medical, ambulance, hospital, professionalnursing and funeral costs that become necessary due to accidental bodily injury to persons injured while in,'upon, boarding, leaving or towed behind your insured vessel. We will pay only for those costs incurred withinone year of the date of accident.

EXCLUSIONS: We do not provide coverage under Part C: Medical Payments Coverage for:a. any employee of yours injured while in the course of employment or while using, maintaining or repairing

your insured property;

b. any responsibility for payment assumed by you under contract or agreement;c. anyone who is injured while your insured property is being conveyed, hauled out or launched;d. anyone to or for whom benefits are payable under any state or federal compensation law or act.

LOSS SETTLEMENT: We will pay no more than the amount of insurance shown for Part C: MedicalPayments Coverage on the Declarations Page for all covered costs of each person injured as a result of anyone accident or series of accidents arising out of the same event.

M A ~ 1 4 5 5 8 a (04/05) Page 5 of 12




MEDICAL PAYMENTS PROOF-Of-LOSS: A written, sworn proof-of-Ioss must be filed with us by anyperson seeking payment by us under Part C: Medical Payments Coverage, or by someone on their behalf.

This proof-of-Ioss must include:

a. the name and address of each person and organization performing covered services;b. the nature, extent and dates of these services; andc. itemized charges and any sums already paid.

This proof-of-Ioss must be filed:a. as soon as reasonably possible after completion of services;b. as soon as reasonably possible after the cost of services being provided equals the amount of our

liability under Part C: Medical Payments Coverage on the Declarations Page;

c. within one year of the date of the accident, whichever of the above occurs first.

ADDITIONAL REQUIREMENTS: Each person seeking payment by us under Part C: Medical PaymentsCoverage must:a. submit to a phYSical examination by a physician selected by us when and as often as we reasonably

require; we will pay for the cost of the examination; andb. provide us with written authorization for release to us of copies of pertinent medical reports and records.

ADMISSION OF LIABILITY: Any payment made under this section is not an admission of liability by you or

us.

PART D: UNINSURED BOATER COVERAGE

PERILS INSURED AGAINST: We will pay for the damages which, because of bodily injury receivedaboard your vessel, you are legally entitled to recover from the uninsured owner or operator of another vessel.

EXCLUSIONS: We do not provide coverage under Part D: Uninsured Boater Coverage:

a. for claims settled without our written consent;b. if the uninsured vessel is owned by a government agency or unit;c. for vessels owned by or furnished for your regular use, or the use of a member of your immediate family

or any person insured by this policy;

d. for an insured person using a vessel without permission;e. where no evidence of physical contact exists between your vessel and an unidentified vessel, or where

no evidence of physical contact exists between your vessel and an uninsured vessel.

LOSS SETTLEMENT: The amount shown for Part D: Uninsured Boater Coverage on the DeclarationsPage is the most we will pay under Part D, regardless of the number of insured persons, claims made orvessels involved in anyone accident or series of accidents arising out of the same event. This coverage willnot apply directly or indirectly to the benefit of any insured under any state or federal compensation law or act.Payment made for this coverage to or for an insured person will reduce the amouht that person is entitled torecover from the Part B: Liability Coverage of this policy.

PART E: FEDERAL LONGSHOREMEN'S AND HARBOR WORKERS'

COMPENSATION INSURANCE

When insurance is provided under Part B: Liability Coverage, insurance is· also provided under this section.We will provide coverage for any liability which you, as owner of the insured property, incur during the term of

the policy under Part E: Federal Longshoremen's and Harbor Workers' Compensation Insurance.

PART F: VESSEL TRAILER COVERAGE

PERILS INSURED AGAINST: We will provide coverage for all accidental, direct physical loss or damageto any trailer listed on the Declarations Page, but only:

a. if used exclusively for transporting the vessel; and

b. while located in the continental United States including Alaska, Hawaii, Puerto Rico or Canada.

MA-14558a (04/05) Page 6 of 12

MEDICAL PAYMENTS PROOF-Of-LOSS: A written, sworn proof-of-Ioss must be filed with us by anyperson seeking payment by us under Part C: Medical Payments Coverage, or by someone on their behalf.

This proof-of-Ioss must include:

a. the name and address of each person and organization performing covered services;b. the nature, extent and dates of these services; andc. itemized charges and any sums already paid.

This proof-of-Ioss must be filed:a. as soon as reasonably possible after completion of services;b. as soon as reasonably possible after the cost of services being provided equals the amount of our

liability under Part C: Medical Payments Coverage on the Declarations Page;

c. within one year of the date of the accident, whichever of the above occurs first.

ADDITIONAL REQUIREMENTS: Each person seeking payment by us under Part C: Medical PaymentsCoverage must:a. submit to a phYSical examination by a physician selected by us when and as often as we reasonably

require; we will pay for the cost of the examination; andb. provide us with written authorization for release to us of copies of pertinent medical reports and records.

ADMISSION OF LIABILITY: Any payment made under this section is not an admission of liability by you or

us.

PART D: UNINSURED BOATER COVERAGE

PERILS INSURED AGAINST: We will pay for the damages which, because of bodily injury receivedaboard your vessel, you are legally entitled to recover from the uninsured owner or operator of another vessel.

EXCLUSIONS: We do not provide coverage under Part D: Uninsured Boater Coverage:

a. for claims settled without our written consent;b. if the uninsured vessel is owned by a government agency or unit;c. for vessels owned by or furnished for your regular use, or the use of a member of your immediate family

or any person insured by this policy;

d. for an insured person using a vessel without permission;e. where no evidence of physical contact exists between your vessel and an unidentified vessel, or where

no evidence of physical contact exists between your vessel and an uninsured vessel.

LOSS SETTLEMENT: The amount shown for Part D: Uninsured Boater Coverage on the DeclarationsPage is the most we will pay under Part D, regardless of the number of insured persons, claims made orvessels involved in anyone accident or series of accidents arising out of the same event. This coverage willnot apply directly or indirectly to the benefit of any insured under any state or federal compensation law or act.Payment made for this coverage to or for an insured person will reduce the amouht that person is entitled torecover from the Part B: Liability Coverage of this policy.

PART E: FEDERAL LONGSHOREMEN'S AND HARBOR WORKERS'

COMPENSATION INSURANCE

When insurance is provided under Part B: Liability Coverage, insurance is· also provided under this section.We will provide coverage for any liability which you, as owner of the insured property, incur during the term of

the policy under Part E: Federal Longshoremen's and Harbor Workers' Compensation Insurance.

PART F: VESSEL TRAILER COVERAGE

PERILS INSURED AGAINST: We will provide coverage for all accidental, direct physical loss or damageto any trailer listed on the Declarations Page, but only:

a. if used exclusively for transporting the vessel; and

b. while located in the continental United States including Alaska, Hawaii, Puerto Rico or Canada.

MA-14558a (04/05) Page 6 of 12




EXCLUSIONS: We do not provide coverage for wear and tear, gradual deterioration or manufacturer's

defects.

DEDUCTIBLE AMOUNT: We will adjust each claim separately for a covered loss to your insured property.

The amount of adjusted claim will be automatically reduced by the Deductible Amount shown on the

Declarations Page. We will treat each covered loss as a separate claim. For deductible purposes, we will treat

two or more covered losses resulting from the same accident or occurrence as one claim.

LOSS SETTLEMENT: In the event of loss or damage to the vessel trailer, we will pay the lowest of the

following amounts:

a. the Part F: Vessel Trailer Coverage limit as shown on the Declarations Page;b. the actual cash value at the time of loss;

c. the cost to repair subject to depreciation;

d. the cost of replacement.

PART G: PERSONAL PROPERTY COVERAGE

PROPERTY COVERED: We will cover clothing, personal effects, fishing gear and sports equipment that

belong to you or members of your family while these items are on board your vessel, or are being loaded or

unloaded. If you choose, we will provide the same coverage to guests and unpaid crew members. We will not

cover money, jewelry, traveler's checks or any other valuable papers or documents.

EXCLUSIONS: We do not provide coverage under Part G: Personal Property Coverage against loss or


a. wear and tear, mechanical breakdown, gradual deterioration, weathering, insects, mold, animals, marine

life, ice, freezing or extremes of temperature;

b. marring, scratching or denting;

c. osmosis, blistering, electrolysis or corrosion;

d. manufacturer's defects, defects in designs or latent defects.

MYSTERIOUS DISAPPEARANCE ANDIOR THEFT: The coverages provided herein do not insure themysterious disappearance and/or theft of any covered property unless:

a. there is visible evidence of forcible entry into the cabin of the insured vessel;

b. there is visible evidence of forcible removal of covered properties from the insured vessel;c. there is a theft of the entire vessel.

CAUSES OF LOSS WHICH ARE COVERED: We will cover direct physical loss or damage from any

external cause, except as specifically excluded in this policy.

DEDUCTIBLE: We will adjust each claim separately for a covered loss to your insured property. The

amount of adjusted claim will be automatically reduced by the Deductible Amount shown on the Declarations

Page. We will treat each covered loss as a separate claim. For deductible purposes, we will treat two or more

covered losses resulting from the same accident or occurrence as one claim.


following amounts:

a. the Part G: Personal Property Coverage limit as shown on the Declarations Page;b. the actual cash value at the time of loss;

c. the cost to repair subject to depreciation;d. the cost of replacement.

The OTHER INSURANCE paragraph under GENERAL PROVISIONS IN THE EVENT OF LOSS does not

apply to PART G: PERSONAL PROPERTY COVERAGE.

MA-14558a (04/05) Page 7 of 12

EXCLUSIONS: We do not provide coverage for wear and tear, gradual deterioration or manufacturer's

defects.

DEDUCTIBLE AMOUNT: We will adjust each claim separately for a covered loss to your insured property.

The amount of adjusted claim will be automatically reduced by the Deductible Amount shown on the

Declarations Page. We will treat each covered loss as a separate claim. For deductible purposes, we will treat

two or more covered losses resulting from the same accident or occurrence as one claim.

LOSS SETTLEMENT: In the event of loss or damage to the vessel trailer, we will pay the lowest of the

following amounts:

a. the Part F: Vessel Trailer Coverage limit as shown on the Declarations Page;b. the actual cash value at the time of loss;

c. the cost to repair subject to depreciation;

d. the cost of replacement.

PART G: PERSONAL PROPERTY COVERAGE

PROPERTY COVERED: We will cover clothing, personal effects, fishing gear and sports equipment that

belong to you or members of your family while these items are on board your vessel, or are being loaded or

unloaded. If you choose, we will provide the same coverage to guests and unpaid crew members. We will not

cover money, jewelry, traveler's checks or any other valuable papers or documents.

EXCLUSIONS: We do not provide coverage under Part G: Personal Property Coverage against loss or

resulting damage from:a. wear and tear, mechanical breakdown, gradual deterioration, weathering, insects, mold, animals, marine

life, ice, freezing or extremes of temperature;

b. marring, scratching or denting;

c. osmosis, blistering, electrolysis or corrosion;

d. manufacturer's defects, defects in designs or latent defects.

MYSTERIOUS DISAPPEARANCE ANDIOR THEFT: The coverages provided herein do not insure themysterious disappearance and/or theft of any covered property unless:

a. there is visible evidence of forcible entry into the cabin of the insured vessel;

b. there is visible evidence of forcible removal of covered properties from the insured vessel;c. there is a theft of the entire vessel.

CAUSES OF LOSS WHICH ARE COVERED: We will cover direct physical loss or damage from any

external cause, except as specifically excluded in this policy.

DEDUCTIBLE: We will adjust each claim separately for a covered loss to your insured property. The

amount of adjusted claim will be automatically reduced by the Deductible Amount shown on the Declarations

Page. We will treat each covered loss as a separate claim. For deductible purposes, we will treat two or more

covered losses resulting from the same accident or occurrence as one claim.


following amounts:

a. the Part G: Personal Property Coverage limit as shown on the Declarations Page;b. the actual cash value at the time of loss;

c. the cost to repair subject to depreciation;d. the cost of replacement.

The OTHER INSURANCE paragraph under GENERAL PROVISIONS IN THE EVENT OF LOSS does not

apply to PART G: PERSONAL PROPERTY COVERAGE.

MA-14558a (04/05) Page 7 of 12




USE OF VESSEL: We do not provide any coverage while your insured property is used for any type ofcharter, to carry passengers for hire, to carry property for a fee or for any other commercial use. We willprovide coverage while you are attempting to aid other vessels in distress, provided there is no consideration

for your services.

TRANSFER OF INTEREST: All coverage provided by us will terminate upon the sale, assignment, transferor pledge of the insured property or of this contract unless prior written consent has been obtained from us.

CONCEALMENT, MISREPRESENTATION OR FRAUD: All coverage provided by us will be voidedfrom the beginning of the Policy Period if you intentionally conceal or misrepresent any material fact orcircumstance relating to this contract of insurance, or the application for such insurance, whether before or

after a loss.

DISHONEST, ILLEGAL OR INTENTIONAL ACTS: We do not pay for loss or damage caused by thedishonest, illegal or intentional acts of any covered person, or any. person to whom your insured property isentrusted, regardless of whether or not such person is convicted of such an act by a criminal court.

NO BENEfiT TO OTHERS: No person or organization which has custody of your insured property and is

to be paid for services will benefit from this insurance.

WAR, CONFISCATION AND CONTAMINATION: We do not provide any coverage for loss, damage,liability or expense due to:a. war, including undeclared war, civil war, insurrection, rebellion, revolution, warlike act by military force or

military personnel, destruction or seizure for military purpose and including any consequence of these;b. the lawful or unlawful capture, seizure, confiscation, requisition or detainment of your vessel by a civil or

military authority or an attempt at any of these;c. radioactive, chemical, biological, bio-chemical or electromagnetic contamination.

GENERAL PROVISIONS IN THE EVENT OF LOSS

PROTECTION AGAINST LOSS: If your vessel or other property covered by this policy is damaged, you

must take all reasonable steps to protect it from further damage. We will reimburse you for reasonableexpenses for protecting the property from further damage. Payments for protecting damaged property will be

in addition to any other payments we make for losses covered by this policy. However, the most we will payfor protecting damaged property is the coverage limit which applies to that property.

ABANDONMENT: If we take any steps to protect damaged property, this does not mean we are acceptingan abandonment of the property. And, if you take steps to protect damaged property, this does not mean you

are waiving any rights you have to abandon the property.

NOTICE OF LOSS: You must report in writing to us, or our authorized agent, as soon as possible after theoccurrence of any accident, loss, damage or expense that may be covered under this policy. This noticeshould state when, where and how the event occurred, and should include the names and addresses of anywitnesses. You are also required to notify the police and file a police report as soon as you are aware thatyour property has been stolen or vandalized. If you do not provide the notice to us as required by this sectionas soon as possible, any claim for such loss under this policy will be voided.

PROOF-Of-LOSS: You must file with us or our authorized agent, as soon as possible after our writtenrequest, a detailed proof-of-Ioss signed and sworn to by you setting forth to the best of your knowledge, thefacts of the loss. We may also require you to submit to an examination under oath. See Part C: MedicalPayments Coverage for special proof-of-Ioss requirements for medical payments claims.

MA-14558a (04/05)Page 9 of 12

USE OF VESSEL: We do not provide any coverage while your insured property is used for any type ofcharter, to carry passengers for hire, to carry property for a fee or for any other commercial use. We willprovide coverage while you are attempting to aid other vessels in distress, provided there is no consideration

for your services.

TRANSFER OF INTEREST: All coverage provided by us will terminate upon the sale, assignment, transferor pledge of the insured property or of this contract unless prior written consent has been obtained from us.

CONCEALMENT, MISREPRESENTATION OR FRAUD: All coverage provided by us will be voidedfrom the beginning of the Policy Period if you intentionally conceal or misrepresent any material fact orcircumstance relating to this contract of insurance, or the application for such insurance, whether before or

after a loss.

DISHONEST, ILLEGAL OR INTENTIONAL ACTS: We do not pay for loss or damage caused by thedishonest, illegal or intentional acts of any covered person, or any. person to whom your insured property isentrusted, regardless of whether or not such person is convicted of such an act by a criminal court.

NO BENEfiT TO OTHERS: No person or organization which has custody of your insured property and is

to be paid for services will benefit from this insurance.

WAR, CONFISCATION AND CONTAMINATION: We do not provide any coverage for loss, damage,liability or expense due to:a. war, including undeclared war, civil war, insurrection, rebellion, revolution, warlike act by military force or

military personnel, destruction or seizure for military purpose and including any consequence of these;b. the lawful or unlawful capture, seizure, confiscation, requisition or detainment of your vessel by a civil or

military authority or an attempt at any of these;c. radioactive, chemical, biological, bio-chemical or electromagnetic contamination.

GENERAL PROVISIONS IN THE EVENT OF LOSS

PROTECTION AGAINST LOSS: If your vessel or other property covered by this policy is damaged, you

must take all reasonable steps to protect it from further damage. We will reimburse you for reasonableexpenses for protecting the property from further damage. Payments for protecting damaged property will be

in addition to any other payments we make for losses covered by this policy. However, the most we will payfor protecting damaged property is the coverage limit which applies to that property.

ABANDONMENT: If we take any steps to protect damaged property, this does not mean we are acceptingan abandonment of the property. And, if you take steps to protect damaged property, this does not mean you

are waiving any rights you have to abandon the property.

NOTICE OF LOSS: You must report in writing to us, or our authorized agent, as soon as possible after theoccurrence of any accident, loss, damage or expense that may be covered under this policy. This noticeshould state when, where and how the event occurred, and should include the names and addresses of anywitnesses. You are also required to notify the police and file a police report as soon as you are aware thatyour property has been stolen or vandalized. If you do not provide the notice to us as required by this sectionas soon as possible, any claim for such loss under this policy will be voided.

PROOF-Of-LOSS: You must file with us or our authorized agent, as soon as possible after our writtenrequest, a detailed proof-of-Ioss signed and sworn to by you setting forth to the best of your knowledge, thefacts of the loss. We may also require you to submit to an examination under oath. See Part C: MedicalPayments Coverage for special proof-of-Ioss requirements for medical payments claims.

MA-14558a (04/05)Page 9 of 12




CLAIM OR SUIT AGAINST YOU: If a claim is made or suit is brought against you or a Covered person forliability that may be covered under this policy, you must immediately notify us and send us every demand,notice, summons or other legal papers received by you or your representative. We will pay the ensuing cost ofthe suit. We will also have the option of naming attorneys to represent you. Payments for the cost of yourlegal defense will be in addition to payments we make under your coverage for liability claims against you.

ASSISTANCE AND COOPERATION: Any person making a claim must:

a. cooperate with us in the investigation, settlement or defense of any claim or suit under this policy;b. assist us in the enforcement of any right of contribution or indemnity against any person or organization

which may be liable to any covered person;c. allow us to inspect and appraise all damaged property, not stolen or otherwise unrecoverable, before it

is repaired or disposed of;

d. sign a written authorization permitting us to obtain medical files and other pertinent records;e. submit, at our expense and as often as we reasonably require, to a physical examination by physicians

we select and at the time and place we select;f. not assume any obligation or admit any fault or liability that you or we may be liable for without first

obtaining our written consent; and

g. not incur any expenses that we. may be liable for without first obtaining our written consent; the onlyexpenses you may incur without obtaining our written consent are those covered under Part C: MedicalPayments Coverage of this policy, or as described in General Provisions In The Event Of Loss in the

Protection Against Loss section.

PAYMENT OF LOSS: Unless a claim has been paid by others, we will pay for any loss covered under thispolicy within thirty (30) days after both the detailed sworn proof-of-Ioss and proof of your interest in theinsured property are given to us. However, should a covered loss to your insured vessel result in a total orconstructive total loss, the policy premium shall be paid in full prior to the final claim payment.

OUR RIGHT TO RECOVER:

If we make a payment under this policy and the person to or for whom payment was made recovers or has theright to recover from another for the covered loss, we will be subrogated to that right; however, our right torecover is subordinate to the insured's right to be fully compensated.

SALVAGE: If we have made payment under this policy for loss or damage, and if there is salvage or

recovery as a resultof

that loss or damage, we have the right to recover that salvage or recovery to the extentof our payment.

SUIT AGAINST US: You may not bring a suit against us unless you have complied with all terms andconditions of this policy. In addition:

a. with respect to any claim or loss to insured property, any suit against us must commence within one (1)year of the date of loss or damage;

b. with respect to any other claim for loss, no suit may be brought against us until the amount of thecovered person's obligation to pay has been determined by final judgments after trial or by writtenagreement signed by you, us and the claimant; any such legal action against us must commence withinone year of the date of judgment or written agreement;

c. no one shall have any right to join us as a party to any action against a covered person;d. if any time limitations of this policy are prohibited or invalid under the law, then legal action against us

must commence within the shortest limitation of time permitted by such law.

OTHER INSURANCE: If any covered person has any other insurance against a property damage losscovered under this policy, we will not pay for any greater proportion of the loss than our applicable amount ofinsurance stated on the Declarations Page bears to the total amount of insurance covering the loss. Withrespect to a liability, medical payments and/or uninsured boater loss, any insurance provided by this contractshall be deemed excess over all other valid and collectible insurance.

MA-14558a (04/05) Page 10 of 12

CLAIM OR SUIT AGAINST YOU: If a claim is made or suit is brought against you or a Covered person forliability that may be covered under this policy, you must immediately notify us and send us every demand,notice, summons or other legal papers received by you or your representative. We will pay the ensuing cost ofthe suit. We will also have the option of naming attorneys to represent you. Payments for the cost of yourlegal defense will be in addition to payments we make under your coverage for liability claims against you.

ASSISTANCE AND COOPERATION: Any person making a claim must:

a. cooperate with us in the investigation, settlement or defense of any claim or suit under this policy;b. assist us in the enforcement of any right of contribution or indemnity against any person or organization

which may be liable to any covered person;c. allow us to inspect and appraise all damaged property, not stolen or otherwise unrecoverable, before it

is repaired or disposed of;

d. sign a written authorization permitting us to obtain medical files and other pertinent records;e. submit, at our expense and as often as we reasonably require, to a physical examination by physicians

we select and at the time and place we select;f. not assume any obligation or admit any fault or liability that you or we may be liable for without first

obtaining our written consent; and

g. not incur any expenses that we. may be liable for without first obtaining our written consent; the onlyexpenses you may incur without obtaining our written consent are those covered under Part C: MedicalPayments Coverage of this policy, or as described in General Provisions In The Event Of Loss in the

Protection Against Loss section.

PAYMENT OF LOSS: Unless a claim has been paid by others, we will pay for any loss covered under thispolicy within thirty (30) days after both the detailed sworn proof-of-Ioss and proof of your interest in theinsured property are given to us. However, should a covered loss to your insured vessel result in a total orconstructive total loss, the policy premium shall be paid in full prior to the final claim payment.

OUR RIGHT TO RECOVER:

If we make a payment under this policy and the person to or for whom payment was made recovers or has theright to recover from another for the covered loss, we will be subrogated to that right; however, our right torecover is subordinate to the insured's right to be fully compensated.

SALVAGE: If we have made payment under this policy for loss or damage, and if there is salvage or

recovery as a resultof

that loss or damage, we have the right to recover that salvage or recovery to the extentof our payment.

SUIT AGAINST US: You may not bring a suit against us unless you have complied with all terms andconditions of this policy. In addition:

a. with respect to any claim or loss to insured property, any suit against us must commence within one (1)year of the date of loss or damage;

b. with respect to any other claim for loss, no suit may be brought against us until the amount of thecovered person's obligation to pay has been determined by final judgments after trial or by writtenagreement signed by you, us and the claimant; any such legal action against us must commence withinone year of the date of judgment or written agreement;

c. no one shall have any right to join us as a party to any action against a covered person;d. if any time limitations of this policy are prohibited or invalid under the law, then legal action against us

must commence within the shortest limitation of time permitted by such law.

OTHER INSURANCE: If any covered person has any other insurance against a property damage losscovered under this policy, we will not pay for any greater proportion of the loss than our applicable amount ofinsurance stated on the Declarations Page bears to the total amount of insurance covering the loss. Withrespect to a liability, medical payments and/or uninsured boater loss, any insurance provided by this contractshall be deemed excess over all other valid and collectible insurance.

MA-14558a (04/05) Page 10 of 12




SIGNATURES

The only signatures applicable to this policy are those representing the company named on theDeclarations Page.

By signing and delivering the policy to you, we state that it is a valid contract when countersigned by our

authorized representative.

~ ~ ~ CI GEORGE D. MULLIGAN, Secretary t?

Insurance Companyof North America


~ IF / JOHN J. LUPICA, President





MA-14558a (04/05) Page 11 of 12

SIGNATURES

The only signatures applicable to this policy are those representing the company named on theDeclarations Page.

By signing and delivering the policy to you, we state that it is a valid contract when countersigned by our

authorized representative.

~ ~ ~ CI GEORGE D. MULLIGAN, Secretary t?

Insurance Companyof North America


~ IF / JOHN J. LUPICA, President





MA-14558a (04/05) Page 11 of 12




Applicable in Arizona

For your protection, Arizona law requires the following statement to appear on this form. Any person who knowinglypresents a false or fraudulent claim for payment of a loss is subject to criminal and civil penalties.

Applicable in Arkansas, District of Columbia, Kentucky, Louisiana, Maine, Michiqan, New Jersey,New Mexico, New York, Pennsylvania, Tennessee, Virginia and West Virginia

Any person who knowingly and with intent to defraud any insurance company or another person, files a statement ofclaim containing any materially false information, or conceals for the purpose of misleading, information concemingany fact, material thereto, commits a fraudulent insurance act, which is a crime, subject to criminal prosecution and[NY: substantial] civil penalties. In DC, LA, ME, TN and VA, insurance benefits may also be denied.

Applicable in CaliforniaFor your protection, Cal ifomia law requires the following to appear on this form: Any person who knowingly presents afalse or fraudulent claim for payment of a loss is guilty of a crime and may be subject to fines and confinement in stateprison.

Applicable in Colorado

It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company forthe purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial ofinsurance, and civil damages. Any insurance company or agent of an insurance company whO knowingly provides

false, incomplete, or misleading facts or information to a policy holder or claimant for the purpose of defrauding orattempting to defraud the policy holder or claimant with regard to a settlement or award payable from insuranceproceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies.

Applicable in Florida and Idaho

Any person who Knowingly and with the intent to injure, Defraud, or Deceive any Insurance Company Files aStatement of Claim Containing any False, Incomplete or Misleading information is Guilty of a Felony.*

* In Florida - Third Degree Felony

Applicable in Hawaii

For your protection, Hawaii law requires you to be informed that presenting a fraudulent claim for payment of a loss orbenefit is a crime punishable by fines or imprisonment, or both.

Applicable in Indiana

A person who knowingly and with intent to defraud an insurer files a statement of claim containing any false,incomplete, or misleading information commits a felony.

Applicable in Minnesota

A person who files a claim with intent to defraud or helps commit a fraud against an insurer is guilty of a crime.

Applicable in Nevada

Pursuant to NRS 686A.291, any person who knowingly and willfully files a statement of claim that contains any false,incomplete or misleading information conceming a material fact is guilty of a felony.

Applicable in New Hampshire

Any person who, with purpose to injure, defraud or deceive any insurance company, files a statement of claimcontaining any false, incomplete or misleading information is subject to prosecution and punishment for insurancefraud, as provided in RSA 638:20.

Applicable in Ohio

Any person who, with intent to defraud or knowing that he/she is faCilitating a fraud against an insurer, submits anapplication or files a claim containing a false or deceptive statement is guilty of insurance fraud.

Applicable in Oklahoma

WARNING: Any person who knowingly and with intent to injure, defraud or deceive any insurer, makes any claim forthe proceeds of an insurance policy containing any false, incomplete or misleading information is guilty of a felony.

ACORD 1 (2005106)

Applicable in Arizona

For your protection, Arizona law requires the following statement to appear on this form. Any person who knowinglypresents a false or fraudulent claim for payment of a loss is subject to criminal and civil penalties.

Applicable in Arkansas, District of Columbia, Kentucky, Louisiana, Maine, Michiqan, New Jersey,New Mexico, New York, Pennsylvania, Tennessee, Virginia and West Virginia

Any person who knowingly and with intent to defraud any insurance company or another person, files a statement ofclaim containing any materially false information, or conceals for the purpose of misleading, information concemingany fact, material thereto, commits a fraudulent insurance act, which is a crime, subject to criminal prosecution and[NY: substantial] civil penalties. In DC, LA, ME, TN and VA, insurance benefits may also be denied.

Applicable in CaliforniaFor your protection, Cal ifomia law requires the following to appear on this form: Any person who knowingly presents afalse or fraudulent claim for payment of a loss is guilty of a crime and may be subject to fines and confinement in stateprison.

Applicable in Colorado

It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company forthe purpose of defrauding or attempting to defraud the company. Penalties may include imprisonment, fines, denial ofinsurance, and civil damages. Any insurance company or agent of an insurance company whO knowingly provides

false, incomplete, or misleading facts or information to a policy holder or claimant for the purpose of defrauding orattempting to defraud the policy holder or claimant with regard to a settlement or award payable from insuranceproceeds shall be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies.

Applicable in Florida and Idaho

Any person who Knowingly and with the intent to injure, Defraud, or Deceive any Insurance Company Files aStatement of Claim Containing any False, Incomplete or Misleading information is Guilty of a Felony.*

* In Florida - Third Degree Felony

Applicable in Hawaii

For your protection, Hawaii law requires you to be informed that presenting a fraudulent claim for payment of a loss orbenefit is a crime punishable by fines or imprisonment, or both.

Applicable in Indiana

A person who knowingly and with intent to defraud an insurer files a statement of claim containing any false,incomplete, or misleading information commits a felony.

Applicable in Minnesota

A person who files a claim with intent to defraud or helps commit a fraud against an insurer is guilty of a crime.

Applicable in Nevada

Pursuant to NRS 686A.291, any person who knowingly and willfully files a statement of claim that contains any false,incomplete or misleading information conceming a material fact is guilty of a felony.

Applicable in New Hampshire

Any person who, with purpose to injure, defraud or deceive any insurance company, files a statement of claimcontaining any false, incomplete or misleading information is subject to prosecution and punishment for insurancefraud, as provided in RSA 638:20.

Applicable in Ohio

Any person who, with intent to defraud or knowing that he/she is faCilitating a fraud against an insurer, submits anapplication or files a claim containing a false or deceptive statement is guilty of insurance fraud.

Applicable in Oklahoma

WARNING: Any person who knowingly and with intent to injure, defraud or deceive any insurer, makes any claim forthe proceeds of an insurance policy containing any false, incomplete or misleading information is guilty of a felony.

ACORD 1 (2005106)




Marine Insurance Application

INSURED INFORIIAnoH

FAIRHAVEN

OWNIR I OPERATOR INFORIIAlION

PRIIMR\'CI'AtIER'88SNr::f!.MAILAIlORBSS

~ - X X - 8 3 8 8 /llZEANDlYPEOFVIi8SEL(S)OIIIIE)&OPERAlED

81'VI<ING, 53' CARVER

~ \ I E Y O U O R 1 H I S V E 8 S E L s u s r A I I E D A N I " INSIJWICE I.OS8ES?

DVes 0No

~ I N S U R I \ N C E E V E R I E E N OREECUIEO?

Dves 0No

Quote ID: 874587

II.ace teeteationaJmarine Insurance

PRIMARV OWER IBENEFICIAL OWER'S OCCUPA'llOM

ATTORNEY

PREVIOUSICURRENI'IIISIIIWCECOMPANI' NAME

TRAVELERS

LOSSES. GIVE ct1IIlWfINAME(8), W,1E(S)OF I.OIIS(ES)ANOAMOUNI' PAlO

",CAIlCEUJ;DORIlECIJNED.GMiCCIIPANVIWIEIS),DATE{S)ANORfASONS

REGlJlARQf'liftlllOR

__IIIRlHIlfITE YRSOFEXP ISTHERE APAIOCAPrAlN?

..

fRANKNICOLOIS

.O F

0711111984 15

2

TOTALH.P.

860Each

0ves 01'10 (IFYES.ATTACIt RESUME)

IfOTAL'OF PAlO CREW ~ s . COAST OUAROIJCENS£'I(WCI.. CAPTAIN)

1

NAME I TYPE

MOTOR VACHT I Power SIngle

MASTMATERIAI. (IFSAILBOAT)

FUEL TYPE

DIesel

DVes 0No (IFYES. ATTACH COPY)

25

TRAII.ER YEAR TRAII.ER LENGTH TRAII.ERSERIAL NUMBER

IDINGHY Je t skis insured elsewhere is taken___ Manufacturer: on Some t r i p5

Fume DeIedor

CUIbon MonoxIde DeIedor

oAlarm SysIem - Type:MOTOR

Year: ___ MBIlUfacturer:

o PropaneFueled Appliances I Equipment - Desaibe:

EPIRBMotorType:__ HP: __ Serial#: _____ _

Motor Value: ___ (outboards only)

OPERATION OF vessaM1£RSTOBENAVlGATED(see_3/ortho_lnav1ga1iondescllpllon) IIERTII/MOORING LOCATION OFWSSEL (JUNE. NOVEMBER)

AtJantk: coastwise between St. John, New BnII1sWIck and Carrabelle. A. MarlnaName: 155 GRANGE AVE

MooJlng City I Slate: FAIR HAVEN. NJ

Mooring Zip Code: 07704

lAY UP PERIOD /DING lAY UP Pl!RIOD, IlESSEL IS0EC0II1IISSt0NED )3I!IIBLER SYSTEM IF lAID UP AFlOAT?From: 12101 To: 04101 o Aftoat 0 Ashore 0 Not AppIlcabIe Dyes DNo DNotApplle&bIe

r-asa1S: (dlackallhal appI,)

o Raced in other than club raees o Lived aboard on 8 pennanent I semi-permanent bBsis

o BaIeboalChartered - Frequency: - - o Chartered with CaplaInlCreW - Frequency: --o Used for oIhercommercial pIIIpOSeS (stlach deIaIIs) o Bost stored on trailer at ApartmenIICondominIUm

o Transported Overfand - Trips per year: MIles per year:

Page 1 of 3

Marine Insurance Application

INSURED INFORIIAnoH

OWNIR I OPERATOR INFORIIAlION

Quote ID: 874587

II.ace teeteationaJmarine Insurance

IIIR1H IlfITE YRSOF EXP

0711111984 15

VESSEL& EQUIPMI!NT1NFORIIA1ION

IIf1ARIULT r ~ ~ ' M N i U F A C I U R E R 2004 r.nKlNG

~ I D ' D O C U M ! N I ' A T I O N NI..IotIIeR I'URCIW!E PRICE

VSC61087K304 ~ 1 , 8 0 0 . 0 0 0

'0:::S D Wood DSIeeII AlumInum 0 other

ENGN!IWU'ACI'URER .OFENGINES TOTALH.P.

Man 2 860Each

I\I..OFPAIOCREW

(WCI.. CAPTAIN)

UODEL IWIS/TYPE

MOTOR YACHT I PowerSIngle

I'\JfICtWlEIlfITE

02104

MASTMATERIAL (IFSAILBOAT)

FUEL TYPE

DIesel

DYes 0No (lFves.ATTAClloopy)

VESSeL'S NAME

ContinuanceLAST MARINE SUR\IEY IlfITE

~ MANUFAC1\IRI!R 'FSAII.IIOI\TJ

~ S P E 8 ) 25

1'IWIJi!RMNlUFACI'URER TRAILER YEAR TRAILER LENGTH TRAILERSERIAL NUMBER

none1""""'""""'" (cIIeck eIIlhallIf'III1) rENDER/DINGHY Je t skis insured elsewhere is taken

121 Auto fire ExUnguIsHng System Year: --- Manufacturer: gO I i ~ t[ij21i... ~ Fume DeIedor Value: __ ~ __ (ft) SerIal#:

rEI CUIbon MonoxIde DeIedorTEI«lER MOTOR

DAlarm SysIem - Type: Year: ___ MBIlUfacturer:

D Propane FueledAppliances I Equipment - Desaibe:Motor Type:_ _ HP: Serial#:

EPIRB --

Motor Value: ___ (outboards only)

OPERATION OF VESSELIMTERSTOBENA_TED(see_3/ortho_lnav1ga1iondescl!pIIon) IIERTII/MOORING LOCATION OFWSSEL (JUNE. NOVEMBER)

AIIantk: coastwise between St. John, New BnII1sWIck and Carrabelle. A. MarlnaName: 155 GRANGE AVE

MooJlng City I Slate: FAIR HAVEN. NJ

Mooring Zip Code: 07704

lAY UP PERIOD I D ~ lAY UP Pl!RIOD. IlESSEL IS0EC0II1IISSt0NED ~ I I B L E R SYSTEM IF lAID UP AFlOAT?From: 12101 To: 04101 D Aftoat 0 Ashore D No! AppIlcabIe Dyes DNo DNotApplle&bIe~ I S : (dlackallhalappl,)

D Raced in other than club raees D Lived aboard on 8 pennanent I semi-permanent basis

D BaIeboalChartered - Frequency: - - o Chartered with CaplaInlCreW - Frequency:--

D Used for oIhercommercial pIIIpOSe8 (stlach deIaIIs) o Boat stored on trailer at ApartmenIICondominIUm

o Transported Overfand - Trips par year: MIles par year:

Page 1 of 3




: .MarIne IMUtance Applicat ion

(CON11NUED)

=tn

IEFFECnVEDAlEOFCOV&RAG!: ~ 2.12..1\0

IJIIIIt DIducIIbIe SUpp/emant8lCOYllllilp . . . ~ va-!&f!I9nas(a) $1,300.000 $13.000

IJIblIlyCOWlrega (InCt PoIIUIIon) f2.000.ooo

MIIdIcaI PaJmeI1lS (ger pt/SOII) $26.000

U*IIuted 8DaIer 12.000.000

I.&HCA SIaIuIIIIy I.InIB .

TN1Iar NoICc:MmId

UIIIIcheduIed PIn. PrGperty $50.000

'TowIng &AISIIIIanCa $10.000T ~ InCluded

0IineI's l.ItdIIIrlDCAIw $2.000.000

(1 PaId CnIw)

I':'==,,1emI:8Ipj!1'.....'.""18ISGIIIeC Owner does not operate the boat. Full time captain_orClapla/ll'aresume{lllldlceneeflPfllC8ble) Already $ubtnitted fo r th e quote

N\MgIIIcIII.cINCdIIedHunfcIne I1II*ti ItIId UnIctJedIIIad1encler8llClDraemePla apply

!CIuoIeopUon fllr216I11114edIllltlbla· $7.818

L088PAVEEJADbI11OHALlN8UREDlNPORIIAlION(NanIe.Addma&2IpCode) _______________ ~ [iJ. . . . Pay.. OAddlllOllal fnlur4ld D 1.o&sPayee

Beneficial S.ving$ BankPO Box 22478Philadelphfa Pa 19110

AOKNOWLEDGEIIEHour ,<11\ Y8 COIISII11I!I" report may

......8/ateIrIIIRt /IIrt peIIClII who bIcwAngIy and \Iotblnlllnl to deIi"aud any InsutaIlce wmpany oranoIherpellIOIIlies <11\ appllcallon ror. . . . . . . ~ /1IfYlll8terl8llyfillse InrOrPlation. orGOllClllsfor lllepurpoee$ o f r n l s l e a d l n g . l n f o r m d o n ~ a fact 11Iate1i111IheI8Io, corrmlllla hucfUenlln8c.mIce act. v.A1IeII is ac:rIme 811C16Ubjeds!he person to GrimInaI Md (NY: substantial) dvII plllllllIies.

NoIIce toRIIocM1IIIIInd. . . ._ AppliGllnle: RhocIe ISland law now requinls 11181 you CI/scIoSe prIOr arson CO/MCItOns. FaI\IAllO do so/sacdmNIall'enBe. lholawalaopennllslnsurenllOCIeRycovenlglt1n _wh e r e IIIIlnSwed has an arsonconYldlonwllhln IIIe past 10yeIIII. Please answartna foBowing questiOn:

Hava youavar been convicted of_1 Dyes 0 No Ifye&. please provide Claleofc:oJWictlan____ _

AppIIGanr. ~ IGeIIIfy IIat to Ihe bell ofmy ~ allIIaI8III8Ilta OIllhl1lappJicafton areInI8. IunderatanIf and IIgIe8lhallile WIftP8IIYlI1&YobIaIntllm tNrd parIIaS InfaIm8IIon me. mywalen:laft. and Isled opera\OIs, including dIivIng records, tinanclal credit inforI1IaIIOn and prior

ctUnsinfGanaOon.

'1IICIeIsIand IhaI otaccess and condIon wiIIlletpeI:tto allsuch inforInallon coIIIIcted anCIl11a1lhecompany willpIOVIcIebtherJnrormaIIIln ~ righIs upon request.

: .MarIne IMUtance Applicat ion

(CON11NUED)

IJIIIIt DIducIIbIe

va-!&f!I9nas(a) $1,300.000 $13.000

IJIblIlyCOWlrega (InCt PoIIUIIon) f2.000.ooo

MIIdIcaI PaJmeI1lS (ger pt/SOII) $26.000

U*IIuted 8DaIer 12.000.000

I.&HCA SIaIuIIIIy I.InIB .

TN1Iar NoICc:MmId

UIIIIcheduIed PIn. PrGperty $50.000

'TowIng &AISIIIIanCa $10.000T ~ InCluded

0IineI's l.ItdIIIrlDCAIw $2.000.000

(1 PaId CnIw)$U16

EFFECnVEDAlEOFCOV&RAG!: ~ 2.12..1\0SUpp/emant8lCOYllllilp . . . ~

L088PAVEEJADbI11OHALlN8UREDlNPORIIAlION(NanIe.Addma&2IpCode) _'______________- - .

[iJ. . . . Pay.. OAddlllOllal fnlur4ld D 1.o&sPayee

Beneficial S.ving$ BankPO Box 22478Philadelphfa Pa 19110

......8/ateIrIIIRt /IIrt peIIClII who bIcwAngIy and \Iotblnlllnl to deIi"8ud any InsutaIlce wmpany oranoIherpellIOIIlies an appllcallon ror. . . . . . . ~ /1IfYlll8terl8llyfillse InrOrPlation. orGOllClllsfor lllepurpoea$ o f r n l s l e a d l n g . l n f o r m d o n ~ a fact 11Iate1i111IheI8Io, corrmlllla hucfUenlln8c.mIce act. v.A1IeII is ac:rIme 811C16Ubjeds!he person to GrimInaI and (NY: substantial) dvII plllllllIies.

NoIIce toRIIocM1IIIIInd. . . ._ AppliGllnle: RhocIe ISland law now requinls 11181 you CI/scIoSe prIOr arson CO/MCItOns. FaI\IAllO do so/sacdmNIall'enBe. lholawalaopennllslnsurenllOCIellycovenlglt1n _wh e r e IIIIlnSwedhas an arsonconYldlonwllhln IIIe past 10yeIIII. Please answartne foBowing questiOn:

Hava youavar been convicted of_1 Dyes 0 No Ifye&. please provide Claleofc:oJWictlan____ _

AppIIGanr. ~ IGeIIIfy IIat to Ihe bell ofmy ~ allIIaI8III8Ilta OIllhl1lappJicafton areInIe. IunderatanIf and IIgIe8lhallile WIftP8IIYlI1&YobIaIntllm tNrd partIeS InfaIm8IIon me. mywalen:laft. and Isled opera\OIs, including dIivIng records. tinanclal credit inforI1IaIIOn and prior

ctUnsinfGanaOon.

'1IICIeIsIand IhaI otaccess and condIon wiIIlletpeI:t to allsuch inforInallon c:oIIIIcted and lllallhecompany willpIOVIcIebtherJnrormaIIIln ~ righIs upon request.




Marine Insurance Application(CON11NUED)

DETAIL NAVlGA110N DESCRIPTION

c:onIInad10AIIanIIc and Gulfcoastwise IIId InIIIId1ribUIaIYwaIeIS of llelJnlled Stales and Canada between St. John. New Bru/IsIMck and1''' ' ' ' ' ' ' ' ' ' ' ' ' FlorIda. You may noIllII\IgaI8 south ofCumbeIIand Island, ~ a belWeen noon on June 1, and noon November 151b, Iriess your applic:alionslaIes !hatyour pIfmary mooring IocaIIon Is Florida

Page 3 of 3

Marine Insurance Application(CON11NUED)

DETAIL NAVlGA110N DESCRIPTION

c:onIInad10AIIanIIc and Gulfcoastwise IIId InIIIId1ribUIaIYwaIeIS of llelJnlled Stales and Canada between St. John. New Bru/IsIMck and~ . FlorIda. You may noIllII\IgaI8 south ofCumbeIIand Island, ~ a belWeen noon on June 1, and noon November 151b, Iriess your applic:alion......... !hatyour pIfmary mooring IocaIIon Is Florida .

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Case 3:10-cv-03305-JAP -DEA Document 1-7 Filed 06/28/10 Page 4 of 4 PageID: 65· . ~ - .

Under the circumstances, there may have been a material misrepresentation such that ACE maybe able to void the policy ab initio pursuant to the marine insurance doctrine of uberrimae fidea, or

utmost good faith. ACE does not have sufficient information to conclusively determine at this time

whether such a material misrepresentation was made, but further investigation may allow ACE to make

such a determination, and ACE therefore reserves all of its rights in that regard.

The foregoing may not be interpreted as a waiver or diminution of any other rights, warranties,immunities, arguments or defenses under the Policy, at law, or otherwise, whether known or unknown at

this time.

I f you have any other knowledge or information that could or would have bearing on this matter

we encourage you to furnish us with this information. While we are willing to maintain a continuing

dialogue and will certainly consider and evaluate whatever additional comments or further informationthat may be presented, it should be recognized that such ongoing communications will be withoutprejudice to ACE's position as outlined in this and any prior letters issued in this matter.

R. Michael Bums, AMS, AlC

Claim Director


cc: Marine Underwriters Agency, Inc. - fax: 800-548-0501

Regular Mail

· . ~ - .

Under the circumstances, there may have been a material misrepresentation such that ACE maybe able to void the policy ab initio pursuant to the marine insurance doctrine of uberrimae fidea, or

utmost good faith. ACE does not have sufficient information to conclusively determine at this time

whether such a material misrepresentation was made, but further investigation may allow ACE to make

such a determination, and ACE therefore reserves all of its rights in that regard.

The foregoing may not be interpreted as a waiver or diminution of any other rights, warranties,immunities, arguments or defenses under the Policy, at law, or otherwise, whether known or unknown at

this time.

I f you have any other knowledge or information that could or would have bearing on this matter

we encourage you to furnish us with this information. While we are willing to maintain a continuing

dialogue and will certainly consider and evaluate whatever additional comments or further informationthat may be presented, it should be recognized that such ongoing communications will be withoutprejudice to ACE's position as outlined in this and any prior letters issued in this matter.

R. Michael Bums, AMS, AlC

Claim Director


cc: Marine Underwriters Agency, Inc. - fax: 800-548-0501

Regular Mail

GILL v. ACE AMERICAN INSURANCE COMPANY et al Yachtsman Policy

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Transcript of GILL v. ACE AMERICAN INSURANCE COMPANY et al Yachtsman Policy