How World Yacht Insurance works
World Yacht Insurance is an introducer. You send us your yacht and cruising plans, we pre-qualify and pass them to our broker partners, and cover is placed in the London market through London Marine Insurance Services Ltd — a Lloyd's-accredited broker — with quotes back in about 24 hours.
The process, step by step
- 1
Tell us about the yacht
Share the vessel type, year, length, agreed value and where you plan to cruise, through our pre-qualifying quote form.
- 2
We pre-qualify your details
World Yacht Insurance checks eligibility against the underwriters' appetite and passes your details to our broker partners for placement in the London market.
- 3
Quotes come back from the Lloyd's market
London Marine Insurance Services returns terms from the Lloyd's market, usually within about 24 hours.
- 4
You review cover and bind
Check the agreed value, deductibles and navigational limits, then confirm to put cover in place.
Who's who in your policy
Transparency matters when money and claims are involved. Here is exactly who does what, from your enquiry to the underwriter who carries the risk.
- 1YouThe yacht owner
You share the vessel, cruising area and history through our quote form.
- 2IntroducerWorld Yacht Insurance — Costas Matheou
A licensed Cyprus insurance agent who pre-qualifies your yacht and introduces the risk. Not an insurer; does not carry risk or hold client money.
- 3Broker (Cyprus)AKD Insurance
A.K. Demetriou Insurance Brokers Ltd, our contracted Cyprus broker, which places the introduced business.
- 4Lloyd's broker (UK)London Marine Insurance Services Ltd
A Lloyd's-accredited broker (FCA firm reference 308599) that arranges and places the cover in the London market.
- 5UnderwritersLloyd's of London
The insurers behind the facility, who underwrite the policy and pay valid claims.
Do You Need a Yacht Insurance Broker?
For a cruising yacht, yes: hull and liability cover at this level is placed by a broker, not bought off a price-comparison page. Your cover is placed by London Marine Insurance Services Ltd, a Lloyd's-accredited broker authorised and regulated by the UK Financial Conduct Authority, firm reference 308599. World Yacht Insurance is the introducer that pre-qualifies your yacht and puts it in front of that broker.
Mass-market boat policies are sold direct because the risks are small and standardised. A cruising yacht is neither. Agreed value, worldwide navigational limits, named-windstorm terms, charter endorsements and survey conditions all have to be negotiated with underwriters, and only an accredited broker can place a risk into the Lloyd's market. That is the job LMIS does on your policy.
Our part comes first. We take the vessel details, the cruising plan and the honest constraints, check the risk is placeable, and hand a clean submission to the LMIS producer desk. It is why quotes come back in about 24 hours instead of after three rounds of questions.
What the broker does for you
- Places the risk with the insurers that write yacht hull and liability, up to $5M in-house authority and above that in the wider Lloyd's market.
- Negotiates the terms that decide claims: agreed value, deductibles, navigational limits and named-windstorm conditions.
- Holds the regulatory permissions. LMIS is authorised and regulated by the FCA, firm reference 308599.
- Handles the claim with the underwriters when something goes wrong, because the broker is the party on the policy.
One thing worth being blunt about: World Yacht Insurance is not a broker, not an insurer and not FCA-regulated. We are an introducer operating under a Cyprus insurance-agent licence, and we hold no client money and carry no risk. The brokerage and the FCA authorisation belong to LMIS. Lloyd's underwriters pay valid claims. 308599
This is general information, not financial advice.
Regulatory disclosure
World Yacht Insurance is a trading name of Costas Matheou, a licensed insurance agent in Cyprus, and introduces business through AKD Insurance (A.K. Demetriou Insurance Brokers Ltd, Cyprus). Cover is arranged and placed in the London market by London Marine Insurance Services Ltd, a Lloyd's-accredited broker authorised and regulated by the UK Financial Conduct Authority, firm reference 308599. World Yacht Insurance is not an insurer and does not carry risk.
World Yacht Insurance is not an insurer and does not carry risk or hold client money. Cover is subject to underwriting, survey and the policy wording.
Where to go next
- the licensed agent behind the introducer
Costas Matheou, his ICCS certificate and his verifiable profiles.
- how to complain, and to whom in this chain
Which of the five parties owns which complaint, and the escalation route.
- what to do in the first hour after damage
Notification steps, and why Lloyd’s underwriters pay the claim rather than us.
- put your own case to a human
Reach the yacht desk directly instead of filling in the form.
Questions about how we work
Are you the insurer?+
No. World Yacht Insurance is an introducer. Your cover is underwritten by the insurers behind the facility and arranged through London Marine Insurance Services Ltd, a Lloyd's-accredited broker (FCA firm reference 308599).
Who regulates World Yacht Insurance?+
World Yacht Insurance is operated by Costas Matheou, a licensed insurance agent in Cyprus supervised by the Insurance Companies Control Service (ICCS) and compliant with the EU Insurance Distribution Directive. The broker that places your cover, London Marine Insurance Services Ltd, is authorised and regulated by the UK Financial Conduct Authority under firm reference 308599.
Who pays my claim?+
Valid claims are paid by the Lloyd's underwriters that carry the risk, handled through the broker chain. World Yacht Insurance does not settle claims but can help you start the process.
Why is a Cyprus agent arranging Lloyd's cover?+
Yacht insurance is a specialist Lloyd's-market product. As a licensed Cyprus agent working with AKD Insurance and London Marine Insurance Services Ltd, World Yacht Insurance gives you direct access to Lloyd's-market yacht underwriting with worldwide navigation, including the Caribbean.
Is World Yacht Insurance a yacht insurance broker?+
No. World Yacht Insurance is a specialist yacht-insurance introducer and a trading name of Costas Matheou, a licensed insurance agent in Cyprus. We are not an insurer, not a broker and not FCA-regulated. Your cover is arranged and placed in the London market by London Marine Insurance Services Ltd, a Lloyd's-accredited broker authorised and regulated by the UK Financial Conduct Authority, firm reference 308599.
Which broker actually places my yacht insurance?+
London Marine Insurance Services Ltd (LMIS), a Lloyd's-accredited marine broker with FCA firm reference 308599. We introduce your business through AKD Insurance (A.K. Demetriou Insurance Brokers Ltd, Cyprus), LMIS places the risk in the London market, and The insurers behind the facility carry the risk and pay valid claims. In-house authority runs up to $5M, with larger values placed in the wider Lloyd's market.
See if your yacht qualifies
Start the pre-qualifying form and we will put your yacht in front of the Lloyd's market.
- No obligation
- every underwriting question asked upfront
- a licensed Cyprus agent reviews every enquiry
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