Disclaimer of Insurance ServicesYachtWay is not an insurance company, underwriter, or insurance brokerage.YachtWay operates solely as a software platform that facilitates connections and interactions between users, such as yacht owners, and third-party insurance underwriters or licensed brokers. YachtWay does not provide, issue, or bind insurance policies, nor does it act as an agent, broker, or advisor in any insurance-related capacity.
Estimates and QuotesYachtWay does not generate, provide, or guarantee any insurance quotes, estimates, or valuations. Any estimates displayed on the platform are derived exclusively from industry-standard formulas commonly used by insurance underwriters globally to assess risk. These estimates are for informational purposes only and do not constitute binding offers, advice, or representations of actual insurance premiums or coverage. Users will receive accurate quotes upon submitting their full application, at which point licensed yacht insurance brokers will provide quotes that the user may accept or decline.
Payments and TransactionsYachtWay does not process payments, hold funds, or facilitate financial transactions of any kind. All financial arrangements, including premium payments, which are handled directly between the yacht owner / insurer and the relevant insurance underwriter or licensed broker through a global payment system Stripe. YachtWay reserves the right to change payment processing systems at any time without prior notice.
Negotiations and Policy DecisionsAll negotiations, communications, policy decisions, and agreements regarding insurance coverage occur exclusively between the yacht owner and the insurance underwriter or licensed broker. YachtWay has no involvement in these processes and assumes no responsibility for their outcomes.
Limitation of LiabilityYachtWay is not responsible or liable for the accuracy, completeness, or validity of any quotes, estimates, or information provided by third parties through the platform. YachtWay shall not be held liable for any damages, losses, claims, or disputes arising from the use of the platform, including but not limited to property damage, financial losses, personal injury, or any other harm, whether direct, indirect, incidental, consequential, or punitive. This limitation applies to the fullest extent permitted by applicable law.
YachtWay has conducted due diligence to ensure that only licensed brokers, Lloyd’s of London accredited firms licensed to broker deals, and underwriters authorized to trade on the Lloyd’s of London floor are permitted to offer insurance services through the platform. However, YachtWay makes no guarantees regarding the performance, solvency, or compliance of these third parties, and users are responsible for their own verification.
IndemnificationBy using YachtWay’s MasterCover, users agree to indemnify, defend, and hold harmless YachtWay, its affiliates, subsidiaries, officers, directors, employees, agents, and partners from and against any and all claims, demands, liabilities, damages, losses, costs, and expenses (including reasonable attorneys’ fees) arising out of or related to: (i) the user’s interactions with third-party insurance providers; (ii) any reliance on estimates or information displayed on the platform; (iii) violations of these Terms of Use; or (iv) any other actions or omissions by the user.