The Italian marine industry is a leading international player, ranking among the best in the world and in first place for orders of super-yachts (boats over 24 metres long).

Despite the crisis due to the pandemic, the nautical industry has overcome the challenge with flying colours, closing the 2020 financial year with a turnover of 4.8 billion euros. Even leasing contracts, in the midst of a crisis in all sectors, recorded a positive trend, up by around 20%.

This is a complex sector, made up of large workforces and high-end shipyards that guarantee the undisputed quality of Made in Italy worldwide.

This sector generates work for many companies that work alongside shipyards, offering them activities and ancillary services.

MAG has been operating in this sector for more than 40 years, providing comprehensive and constantly updated insurance coverage, developed together with the main insurers in the specialised market.

The great experience gained in the insurance management of ship-owning companies makes us one of the leading operators in the Italian market today.

We support shipowners with specific solutions for every need based on the yacht and/or activity carried out: pleasure boats, super-yachts, ships and charter companies.

The policy conditions agreed with companies include cover for tenders, waverunners and jet skis as well as the possibility of sailing regattas, water skiing and other sports activities connected with yacht use.

The main solutions offered include:

• Hull and Machinery Insurance (H&M);
• Marine Liability Insurance;
• Legal Protection Insurance;
• Marine Assistance Insurance;
• Skipper and passenger accident insurance;
• P&I Insurance (Protection and Indemnity).

We also provide shipyards with protection against third party liabilities arising from their operations through the Shiprepairers Legal Liability Clause and against the risks associated with the construction of vessels through the Builders' Risks coverage.