Marine insurance is an entire field onto itself. It is one of the oldest, if not the oldest, forms of insurance, dating back to Edward's Coffee house in England; the forbearer of Lloyds. As a result, the language in "true" marine insurance is archaic, difficult to understand, and often confusing. Furthermore, different insurance carriers modify the general form to suit their own needs and marketing goals. There are many sub divisions of marine insurance, and just to catalog the variations would require a book. Marine cargo has a myriad of forms and formats. Hull insurance generally contains a series of warranty clauses that are usually applied in the strict sense. Protection and Indemnity is not at all the same as terrestrial Bodily Injury and Property Damage coverage. Yacht insurance, a common form of marine insurance, is not always written on "true" marine forms, and in fact, most yacht policies utilize a hybrid format based on inland marine coverages. Naturally there is no standard agreed upon form, and there are major differences between the coverages available by the various carriers As in the case of aviation insurance, there are a number of specialty brokers who have considerable experience in marine insurance, but often agents and brokers attempt to make placements themselves without the specialized knowledge necessary to fully inform the Insured as to the nature and scope of coverage.

Satori's President and owner, Bennett Bibel, has a great deal of experience in marine insurance. His former brokerage placed many commercial hull policies, marinas, boat repair facilities, ocean cargo policies of many variations, and yachts of all sizes and types. He has owned sailboats since 1957, and has sailed extensively along the Pacific coast from Canada to Mexico, the Atlantic coast, the Gulf of Mexico,  the Caribbean, and voyaged extensively in the Indian Ocean, off the coast of East Africa.  In addition to his sailboat, he has owned a trawler type powerboat that he cruised all along the California coast. His experience as a sailor and boat owner, coupled with his insurance brokerage knowledge and skills, make him a very competent consultant in marine insurance matters.

Revision Date: November 25, 2009