Chubb announced a partnership with Safe Harbor Marinas that will provide coverage for more than 150 marinas and shipyards, giving members access to the insurer’s Masterpiece Select Recreational Marine Insurance product.
The deal leverages Chubb’s century‑long marine underwriting heritage and positions the insurer in a niche that has historically been under‑served by larger insurers, expanding its presence in the high‑margin recreational marine insurance segment.
Masterpiece Select offers total loss settlement with no deductible, no depreciation on partial losses, mechanical and electrical breakdown coverage, and comprehensive liability protection—features that align with the needs of boating enthusiasts.
Kimberly Finlay, Senior Vice President and Recreational Marine Leader at Chubb, said: “We’re thrilled that Safe Harbor has entrusted Chubb to help protect its members and enhance their time on the water. This collaboration reflects our shared commitment to providing boating enthusiasts with exceptional coverage and service tailored to their needs.”
The announcement marks the first public disclosure of a partnership between Chubb and Safe Harbor Marinas, signaling a strategic move to diversify Chubb’s product mix and geographic reach. By partnering with the world’s largest owner and operator of marinas, Chubb gains a new distribution channel and a broader customer base, potentially increasing personal lines revenue and reinforcing its multi‑engine model.
While the partnership is expected to generate incremental premiums, the fact‑check report notes that no prior period financial data for Chubb’s recreational marine segment is available, so the precise impact on earnings remains to be seen. Nonetheless, the deal aligns with Chubb’s stated strategy of entering high‑margin specialty markets and leveraging its global footprint and data capabilities.
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