Beyond the glamour and luxury of working on a yacht lies the crucial aspect of crew wellbeing, particularly when it comes to health insurance. To shed light on the complexities of yacht crew health insurance, we spoke with Mark Bononi, the COO and Director of MHG Insurance's Yacht Division. With years of experience and deep expertise in crew insurance, Mark shared valuable insights on the responsibilities of yacht owners, evolving trends in coverage, and the importance of comprehensive health plans.
Q: What responsibilities do yacht owners or captains have regarding crew health insurance?
Owners and captains should always prioritize what's in the best interest of the yacht's program, and that typically includes providing a solid health insurance plan. Not only do crew members look for health insurance as part of their employment package, but it also protects the yacht's P&I (Protection & Indemnity) policy from potential crew medical claims. A good health insurance plan safeguards both the crew and the vessel.
Q: How do crew health insurance and P&I insurance work together if a crew member is injured on the job?
Crew health insurance acts as the first line of defense for any medical claims, whether the injury happens onboard or away from the yacht. However, there are often times when liability issues can come into play, particularly when it is a work-related accident. In such cases, collaboration between the crew's medical insurance and the yacht's P&I policy becomes crucial. This coordination helps ensure that all aspects of the injury and claim are covered appropriately.
Q: Beyond medical coverage, what benefit do you wish every yacht would offer?
Disability or sick wages coverage is a key benefit that I wish more yachts provided. We have seen a huge increase in the number of vessels opting for this coverage as not only a budget-management tool but also as a risk-management tool. It's vital because it keeps wage claims away from the P&I policy, and the cost of adding this coverage is typically quite low.
Q: What advice do you give to yacht owners or captains facing budget constraints but still needing comprehensive coverage?
This is where working with an experienced insurance broker can make all the difference. A broker can work with a budget to provide the best type of coverage suited to the budget. Often, there are considerations beyond just the premium, such as deductibles or plan limitations, that people may overlook when choosing a plan.
Q: You've seen the industry evolve over the years. How has crew health insurance changed, and what trends are shaping its future?
Crew insurance has come a long way, particularly when it comes to the industry recognizing the need for it. Plans have become more responsive to the changing needs of the yachting world and the broader healthcare landscape, including mental health coverage and non-medical benefits. We're seeing more yachts and management companies acknowledge the importance of mental health, which has been a significant trend in recent years.
Q: Mental health has become a big topic, especially after the pandemic. How have crew health plans adapted to this?
Crew insurance has come a long way, particularly when it comes to the industry recognizing the need for it. Plans have become more responsive to the changing needs of the yachting world and the broader healthcare landscape, including mental health coverage and non-medical benefits. We're seeing more yachts and management companies acknowledge the importance of mental health, which has been a significant trend in recent years.
Q: What are some common misconceptions that yacht crew have about their health insurance?
A common misconception is that insurance covers everything, but it definitely does not. Each plan comes with specific terms, conditions, and exclusions, so it's crucial for crew members to understand what their policy does and doesn't cover. Another misunderstanding is that crew members sometimes assume the vessel owner will take care of any health issues, which isn't always true. Crew need to know the extent of their coverage and be proactive in understanding it.
Q: How does telemedicine fit into crew health insurance, and do you see it as a long-term trend?
Telemedicine is an excellent resource for yacht crew, making it much easier to get medical attention for issues that can be diagnosed and treated through a video consultation. It's cost-effective, saves time, and reduces the need for more complicated and expensive healthcare solutions. While it doesn't replace in-person care for everything, I definitely see this continuing to play a role in crew medical care going forward.
Q: What should crew consider when selecting a policy that includes emergency medical evacuations?
The first thing to know is that medical evacuations are rare and are typically only from land, but they do happen. Most policies require risk of loss of life or limb before considering an evacuation, and this must be coordinated by the insurance company in consultation with the attending physician. It's important for crew to understand that not all situations will warrant an evacuation, and in some cases, staying put until the yacht reaches a port may be the safest option.
Q: In the event of a medical emergency onboard, what's the first step to initiating an evacuation?
The first step is always to get immediate medical attention from a physician. Based on the doctor's assessment, the insurance company may be contacted to arrange an evacuation if it's deemed necessary. It's important to remember that most evacuations occur from land, so the yacht might need to head to the nearest port for the process to begin. Once the insurance company is involved, they will coordinate the next steps.
Mark Bononi's insights highlight the importance of having the right crew health insurance in place. From disability coverage to mental health support and emergency evacuations, there are many aspects to consider when selecting the best plan for your crew. At MHG Insurance, we're dedicated to helping yacht owners, captains, and crew navigate these complexities and ensure their teams are well-protected.
If you'd like to learn more about how MHG Insurance can assist you in finding the right coverage for your yacht crew, reach out to us today by visiting www.mhginsurance.com/contact. Our expert team is here to provide the guidance you need to protect your crew and your vessel.