MHG Offices

Hamburg, Germany MHG Ocean Benefits GmbH

Company Information

Quick Answers (FAQs)

What should I consider when selecting a Yacht Crew Insurance plan?

Consider what’s important to you in a plan. Do you need coverage for a specific medical condition? Perhaps you would like a plan which includes winter and water sports coverage, or maybe you’re looking to start a family and need maternity and dependent options? The itinerary of the yacht can also play a factor in the plan you select.

I’m chartering a yacht. Do I need Trip Cancellation Insurance?

Yes! This type of insurance can help you recover money paid for the charter and air travel expenses should an emergency, illness or bad weather occur, causing you to cancel or miss the charter.

Why doesn’t Commercial General Liability cover marine contractors?

Commercial General Liability insurance is designed to cover land-based operations. Typically, there is an exclusion in most CGL policies for any work done onboard ship, docks, or piers. The reason for this exclusion is that marine risks are better suited for a Marine General Liability policy. One major area of concern for a marine risk is the coverage for care, custody, and control. This coverage is critical for ship repairers especially and is a standard coverage on an MGL policy.

What are the advantages of a level funded employee benefits plan?

On average a business spends 7% to 9% of its budget on employee health care. If your group qualifies for Level Funded plans, it is possible that the rates may be better than Fully-Insured when comparing similar plan options. Yes, you can get money back at the end of the year! Carriers typically offer the group a specified percentage of the unused amount left from your funding pool at the end of the year. The reimbursement percentage varies depending on the carrier, and in some instances can be as much as 94%, which can be a significant amount. Carriers may also include additional features on a Level Funded plan not included on Fully-Insured options.