Pantaenius America Ltd., a premiere provider of U.S. yacht insurance headquartered in Harrison, NY, is now offering coverage for American yacht owners who wish to take their boats to Cuba. The island nation has been off limits to most U.S. yacht owners for over 50 years, but last fall American citizens with a legitimate reason to travel to Cuba were granted the right to do so by boat. A major hurdle stood in their way, however. Due to American laws prohibiting American companies from paying U.S. dollars to Cuban government entities or individuals, no U.S. marine insurance companies were authorized to offer coverage.
Although this marks the first time an American company is able to insure boats going to Cuba, the Pantaenius Group (through its European offices) has decades of experience insuring non-U.S. yachts traveling to Cuba and handling their claims. This expertise makes Pantaenius the unparalleled experts in navigating the significant red tape involved should a claim arise in Cuba. Coverage to Cuba will be limited to yachts valued at $200,000 or more. For a quote and more information, visit pantaenius.com/CUBA.