On August 20, 2013, the Maritime Labor Convention (MLC) came into force. It will impact owners’ ability to commercially charter their yachts and will change the way we build yachts. Devised to protect the unprotected crew, the MLC adds another burdensome layer of governance on yachting.
Reading a yacht insurance policy is often like reading a novel in Sanskrit: just about impossible. But understanding your yacht’s insurance policy is critical to protecting yourself from breaching the insurance policy and being denied coverage.