McMichael - Davis Insurance Brokers Ltd.

Underwriters are familiar with the Shark sailing vessels and do not require surveys, notwithstanding that the vessels are in excess of 20 years of age. For those individuals contemplating acquiring their first Shark and those who might otherwise be inexperienced in assessing the integrity of the hull, it is recommended that an independent and professional marine surveyor be engaged to assist in this process.

In the event of the constructive total loss of the insured vessel in a navigable waterway, the Owner may be legally obligated to remove the wreck. This insurance will pay the insured value of the vessel and will also pay all additional costs incurred in removing the wreck.

This coverage may not be available under a non-marine insurance policy.

This insurance extends to provide coverage whilst racing. Coverage whilst racing is likely specifically excluded under a non-marine policy and under some marine policies that do not appreciate the nature of shark ownership and operations.

Deductibles         Deductibles        

With effect from the June 1, 1998 renewal of this program there will be one all inclusive deductible of $250. on Hull & Machinery. The previous $500. deductible on masts and collision whilst racing has been deleted in recognition of the general good experience of the association members.

Claims-Service

Your Insurers maintain a dedicated marine department to handle all claims issues and has access to surveyors, adjusters and repairers throughout Canada.

The limited navigating season within Canada is acknowledged by your Insurers and it is our Policy to ensure that repairs are effected expeditiously to ensure maximum participation in Association events.

The Canadian Surety Company underwrites this program through McMichael - Davis Insurance Brokers Ltd. The Canadian Surety Company is provincially licensed throughout Canada and maintains membership within The Canadian Board of Marine Underwriters. The Canadian Surety Company underwrites this program through McMichael - Davis Insurance Brokers Ltd. The Canadian Surety Company is provincially licensed throughout Canada and maintains membership within The Canadian Board of Marine Underwriters.