What Is An Ace Policy In Relation To Yachts?

Conrad Shipyard, a Gdansk-based superyacht builder, has introduced an optional endorsement for its ACE Recreational Marine policy. The 44.3-metre yacht, the largest to be built in Poland, is designed for family life and has a top speed of 17.00 knots and a cruising speed of 12.00 knots. Ace is powered by a twin screw propulsion system and was launched in 2012.

ACE offers superior coverage for pleasure yachts 36 feet or greater in length and for captained vessels 70 feet or greater in length. The Elite Yacht Program® is ACE’s exclusive program for luxury yacht owners with vessels valued at 5 million or greater. The charter policy covers up to 6 passengers and requires no USCG inspected vessels. The charter customer is liable for all damage caused by themselves or their crew to third parties and the charter yacht, their equipment or accessories.

The ACE gplink Insurance Program is an exclusive offer for owners of yachts issued in the United States. ACE offers all-risk insurance coverage to protect the entire spectrum of pleasure yachts and boats, including cruisers, luxury mega-yachts, and personal watercraft. Liability limits start at 15,000 and include bodily injury, property damage, guest passenger liability, medical payments, and theft.

In summary, ACE offers comprehensive yacht insurance policies to cater to specific risks associated with navigating larger vessels on high seas.

What is the 12 person rule on a yacht?

In short, if a yacht carries more than 12 passengers, irrespective of whether payment is made, the vessel is considered a ‘Passenger Ship’ which puts it into a different category from standard luxury yachts. A ‘Passenger Ship’ must be SOLAS compliant, which requires rigorous testing, training, and surveying (and cost). The International Convention for the Safety of Life at Sea (SOLAS) is an international maritime treaty that sets the minimum safety standards worldwide.

Regardless of the size of the yacht, 9 times out of 10 it will only be licensed to carry 12 passengers. In day charter yachts this can sometimes include the crew, meaning that your group may not be able to exceed 10 or 11. Just to make it even that bit more complicated, some yachts can only be licensed to 6, so it’s very important you tell one of our brokers how many people will be on the yacht as this may restrict the number of yachts that are available to you.

One thing to always remember: Children and babies are still considered passengers!

What is the 10% rule for yachts?

I’m sure most of us have heard of the “10% rule”: a boat costs about 10% of the purchase price to maintain per year. It’s usually said in the context of used boats, and it rings true to me. There’s another rule thrown around which suggests “2% of the price when new” is the rule.

What is the 24m rule for yachts?

A large yacht is a pleasure vessel with a load line length equal to or over 24m. Almost all the flag administrations have adopted safety codes dedicated to large yachts and this is, therefore, the only definition having a universal meaning in the international regulatory framework of yachts.

What is the Z flag rule in sailing?

Under yacht racing rules, display of the Z flag indicates that a particular false start rule, the 20% Penalty Rule 30.2, is in effect: a boat on the course side (OCS) – that is, over the starting line – during the minute before the start will receive a 20% scoring penalty.

The Z flag has special meaning in Japan (as well as in naval history generally) due to its connection with and symbolizing of the Japanese victory at the Battle of Tsushima.

At the Battle of Tsushima on May 27, 1905, Admiral Tōgō raised a Z flag on his flagship Mikasa. By prearrangement, this flag flown alone meant, “The fate of the Empire rests on the outcome of this battle. Let each man do his utmost.” (「皇國ノ興廢此ノ一戰ニ在リ、各員一層奮勵努力セヨ」). The Battle of Tsushima was one of the most important naval battles of history and this signal is, along with Nelson’s signal “England expects that every man will do his duty” at the Battle of Trafalgar, one of the two most famous naval flag signals; the battle is of especial importance in Japanese national mythology.