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Posts Tagged ‘sink’

Why Boats Sink: Ten best tips on prevention

Wednesday, July 2nd, 2014

Why Boats Sink: Ten best tips on prevention
News from Sail World:

She seemed okay when you left her, after that last happy day, but a phone call a couple of days later telling you she had sunk destroyed all your sailing dreams for a long time to come. In fact, it could be the end of her. That’s because repairs on a sunken boat – whether unattended or underway – often cost more than the actual value of the boat.

So if you want to prevent a sinking at all costs, what can you do? Boat Owners Association of The United States (BoatUS), who, among their services to boat owners, offer insurance, are ideally placed to look at the reasons why unattended boats have sunk in the past.

BoatUS recently took its first significant look since 2006 at its boat insurance claims files and found that most sinkings were preventable. About two out of every three (69%) boats sink at the dock or mooring, while only the remainder (31%) sink while underway.

Of all of the dock/mooring sinkings, 39% occur when some small part gives up the fight with water due to wear, tear and corrosion. When it comes to gradual leaks due to slowly failing parts, too many boats existed in a ‘zombie state’ somewhere between floating and sinking, dependent upon the bilge pump, which merely postponed the sinking until the pump failed or was overwhelmed. This one is a no-brainer: lack of maintenance is the factor here.

… Read the full article


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U.S. Captive Insurance Law


This is the first book on captive insurance which informs the reader whether or not he should form a captive insurance company, how to run it along with an explanation of the tax issues associated with running a property and casualty insurance company. In addition, the reader is taken through an entire case law history of captive insurance to better enable him to understand the issues related to forming a captive insurance company.
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Why Boats Sink: 10 Prevention Tips From BoatUS

Monday, June 30th, 2014

Why Boats Sink: 10 Prevention Tips From BoatUS
News from DigitalJournal.com:

>PRWEB.COM NewswireALEXANDRIA, Va (PRWEB) June 30, 2014

When a boat sinks, that’s likely the end of her. That’s because repairs on a sunken boat often cost more than the actual value of the boat. So if boaters want to prevent a sinking at all costs, what can they do? Boat Owners Association of The United States (BoatUS) recently took its first significant look since 2006 at its boat insurance claims files to identify the causes of boat sinkings and found that most were preventable. About two out of every three (69%) boats sink at the dock or mooring, while the remainder (31%) sink while underway.

Of all of the dock/mooring sinkings, 39% occur when some small part gives up the fight with water due to wear, tear and corrosion. When it comes to gradual leaks due to slowly failing parts, too many boats existed in a “zombie state” somewhere between floating and sinking, dependent upon the bilge pump, which merely postponed the sinking until the pump failed or was overwhelmed. This one is a no-brainer: lack of maintenance is the factor here.

For boat sinkings while underway, the most common cause (43%) is hitting something – a log, the bottom or colliding with another…………… continues on DigitalJournal.com

… Read the full article


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Insurance, Security Requirements Sink Louisiana Family’s July 4 Boat Parade

Sunday, June 22nd, 2014

Insurance, Security Requirements Sink Louisiana Family’s July 4 Boat Parade
News from Insurance Journal:

The family who organizes and sponsors the popular False River Fourth of July Boat Parade in Louisiana’s Pointe Coupee Parish says it is calling it quits.

The reason, family members say, is new pressure from the state to obtain liability insurance and provide adequate security patrols for the safety of participants — a burden they aren’t prepared to shoulder.

“We just can’t take on the responsibility anymore,” attorney Marc Barker, of Jarreau, said. “It used to be a little parade; now it’s hundreds of people and boats. It’s not necessarily a parade anymore. It has evolved into something else.”

Family members say they hope the boat parade — a local tradition for more than 30 years — will resume next year under the sponsorship of a local nonprofit organization or group with the resources to support the event.

The event has evolved from modest beginnings into more of a floating party. Dozens of boats and watercraft now cluster in the middle of the south end of the 10.5-mile-long oxbow lake to party and throw water balloons.

Barker said the family noticed fewer folks decorating boats in line with parade themes, instead just showing up to party. He said that prompted the family to try to take a different approach this year before ultimately deciding to cancel the event altogether.

“In lieu of having a judging sta…………… continues on Insurance Journal

… Read the full article


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The New Health Insurance Solution


You no longer need a traditional employer plan to get good, affordable health insurance. The New Health Insurance Solution can help you cut your health insurance costs in half if: You’re self-employed, an independent contractor, or your employer doesn’t provide health insurance (you can probably get coverage on your own for about /month—a fraction of what an employer would have to pay for the same coverage) You are employed and pay extra to cover your spouse or children under your employer-sponsored plan—you may save 50% by taking them off your employer plan You own a small business and are getting killed by double-digit premium increases—you can now give employees tax-free money to buy their own plans and get your company out of the health insurance business The book also explains in detail the best solutions for you if: You can’t find affordable health insurance because you or a child have an expensive preexisting medical problem (your state has a program to provide you with guaranteed coverage ) You’re currently putting money into an IRA or a 401(k)—because you don’t realize that an HSA is always a better option You’re unsure how you or your parents will be able to afford health insurance during retirement, or how to maximize benefits from Medicare—including the new Part D prescription drug plan The New Health Insurance Solution is the definitive guide to the new ways every American can now get affordable health care—without an employer. PAUL ZANE PILZER is a world-renowned economist, a former advisor in two White House administrations, an entrepreneur/employer, an award-winning adjunct professor at NYU, and a New York Times bestselling author.
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In Great Kills, Staten Islanders shiver as grounded boats sink electricity

Sunday, November 18th, 2012

In Great Kills, Staten Islanders shiver as grounded boats sink electricity
News from SILive.com:

By Maura Grunlund/Staten Island Advance Staten Island Advance
on November 08, 2012 at 7:30 AM, updated November 09, 2012 at 7:44 AM

Two boats have McKee Av. blocked off from Mansion Av. (Staten Island Advance/Hilton Flores) Staten Island boats devastated by Hurricane Sandy gallery (19 photos)

continues on SILive.com

… Read the full article


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John Hancock insurance, 40′s Print Ad .(boat/man/boy/plow) Orinigal 1940 Vintage Life Magazine Ad.
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Tycoon ‘paid boat captain to steal and sink his yacht so he could collect $3m …

Thursday, September 6th, 2012

Tycoon ‘paid boat captain to steal and sink his yacht so he could collect $ 3m …
News from Daily Mail:

By Daily Mail Reporter

|

Nicolas Estrella has been accused of fraudulently trying to claim $ 3million in insurance money for his yacht

An auto-insurance tycoon whose 80-foot yacht was stolen from the dock next to his Mediterranean mansion has been accused of paying his boat captain to sink it so he could collect the insurance money.

Nicolas Estrella, 60, from Miami, who founded Estrella insurance in 1978, is locked in a legal dispute with Federal Insurance Company over a $ 3million claim for the loss of his yacht.

He strongly denies any accusations he paid to have his boat sunk and holds that it was stolen from his Key Biscayne home in May 2009.

Insurance fraud detectives arrested the yacht’s former captain Robert Figuerdo on charges of stealing Star One and then allegedly sinking it off the Bahamas.

Now a witness has come forward in the case, claiming Figuerdo asked him to take part in the insurance fraud, telling him Estrella wanted to get rid of Sta…………… continues on Daily Mail

… Read the full article


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Capitalist and Insurance


Capitalist and Insurance Giclee Print by . Product size approximately 18 x 24 inches. Available at Art.com. Embrace your Space – your source for high quality fine art posters and prints.
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Allstate ensuring safety course fee doesn’t sink boaters in Virginia

Saturday, August 25th, 2012

Allstate ensuring safety course fee doesn’t sink boaters in Virginia
News from IFAwebnews.com:

Allstate Insurance Co. is partnering with BoaterExam.com to offer a Virginia-approved online boating safety course free to all boaters in the state.

People who complete the National Association of State Boating Law Administrators (NASBLA) course can obtain a Virginia Boater Education certification card.

Until Sept. 15, Allstate will pay the $ 29.95 course fee for any Virginian taking the online boating safety course, and boaters who complete the course are eligible for a 5% education discount on their Allstate boat insurance policy. To access the free online boating course, go to www.boaterexam.com/allstate .

“Consumer safety is a top priority for Allstate and this new partnership illustrates our commitment to the safety of Virginia boaters,” said Dave Prendergast, field senior vice president for Allstate’s Capital Region.

Starting July, Virginia law required that all personal watercraft operators regardless of age must take a boating safety course, and boat operators ages 30 and younger need to take a boating safety course.

Virginia law specifies that motorboats with a motor of 10 horsepower or greater (including boats documented by the U. S. Coast Guard) and personal watercraft like Jet Skis are covered under the law. Sailboats do not have to meet the requirement unless the sailboat has a mo…………… continues on IFAwebnews.com

… Read the full article


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12″ FREE AUTO INSURANCE QUOTES DECAL sticker car motorcycle homeowner geico save
This 4.5″ x 12″ decal is printed on premium grade exterior vinyl perfect for outdoor use for 5+ years or will look great inside. A…
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Crew members sentenced for roles in failed bid to sink fishing boat off south …

Tuesday, April 3rd, 2012

Crew members sentenced for roles in failed bid to sink fishing boat off south …
News from The Republic:

CAMDEN, N.J. — Two men who admitted roles in a botched attempt to sink a fishing boat to collect insurance money are now headed to federal prison.

Erik James of Goshen and Christopher Martin of Wildwood both received 30-month terms when they were sentenced Tuesday. The men, who are both 40 years old, were former crew members on the Alexander II fishing boat.

The U.S. Attorney’s Office has said the pair and three other defendants — including the ship’s owner — sought $ 400,000 in insurance money. They took the boat to a point about 86 miles southeast of Cape May and tried unsuccessfully to sink it, after falsifying the ship’s log.

James and Martin had both pleaded guilty to complaints charging them with conspiracy to destroy the boat on the high seas.


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Crew Member Pleads Guilty, Admits Conspiring with Owner and Others to Sink Boat for Insurance Payment

Tuesday, January 10th, 2012

Crew Member Pleads Guilty, Admits Conspiring with Owner and Others to Sink Boat for Insurance Payment
News from Insurance News Net:

CAMDEN, N.J., Jan. 9 — The U.S. Attorney for the District of New Jersey issued the following news release:

A former crew member of a fishing boat admitted today that he participated in a conspiracy to help the boat’s owner sink the ship, the Alexander II, in order to collect $ 400,000 from the insurance company that insured the boat, U.S. Attorney Paul J. Fishman announced.

Arthur “Todd” Vitola, 50, of Wildwood, N.J., pleaded guilty to an Information charging him with conspiring to destroy the boat on the high seas. Vitola entered his guilty plea before U.S. District Judge Renee Marie Bumb in Camden federal court.

On November 12, 2011, the owner, Scott Tran, 38, of Cherry Hill, pleaded guilty to an Indictment charging him with one count of conspiracy to destroy a vessel on the high seas. Tran’s right-hand man, Manh Nguyen, 58, of Philadelphia, pleaded guilty the same day to a superseding Information charging him with a similar conspiracy offense. Two other former crew members also have pleaded guilty to similar conspiracy offenses: Christopher Martin, 40, of Wildwood, N.J., on Nov. 14, 2011; and Erik James, 40, of Goshen, N.J., on Dec. 19, 2011.

According to documents filed in this case and statements made in court:

Vitola engaged with the others in a scheme to sink the Alexander II so Tran could collect on…………… continues on Insurance News Net

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Insurance Solutions


Readers will learn to look at various insurance options including life, disability, health, and long-term care from a new perspective with this guide offering advice on finding insurance, evaluating its coverage, and avoiding pitfalls. There is information on purchasing insurance that a typical insurance company might not make available to a disabled person, and for obtaining insurance when traditional sources appear to be closed. Sample forms, checklists, and extended exercises are included, along with lists of insurance rating agencies, organizations, magazines, books, and web sites. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Wildwood man pleads guilty in plot to sink fishing boat, collect insurance money

Tuesday, January 10th, 2012

Wildwood man pleads guilty in plot to sink fishing boat, collect insurance money
News from Atlantic City Press:

A Wildwood man pleaded guilty Monday to charges of conspiring to sink a boat off Cape May to collect insurance money, U.S. Attorney Paul J. Fishman announced Monday.

Arthur “Todd” Vitola, 50, entered his plea before U.S. District Judge Renee Marie Bumb in federal court in Camden.

Court officials said Vitola – who was hired to be a crew member for the Alexander II – attempted to sink the boat in 2009 so the owner, Scott Tran, 38, of Cherry Hill, Camden County, could collect on the $ 400,000 insurance policy with State National Insurance Co.

Vitola was offered $ 2,000 for his participation in the scheme.

On Aug. 2, 2009, the 75-foot Alexander II left Cape May with little fuel, ice, food and other supplies for a fishing trip. However, the boat’s logs were falsified to read that more than 50 fish, weighing about 3,000 pounds, also were on board.

Once the boat was about 86 miles southeast of Cape May, the captain and crew attempted to sink it.

Others involved in the scheme include Erik James, 40, of the Goshen section of Middle Township; Christopher Martin, 40, of Wildwood; and Manh Nguyen, 58, of Philadelphia.

James and Martin both pleaded guilty to conspiracy charges for their roles as crew members. Nguyen was Tran’s “right-hand man” in the plot. He pleaded guilty Nov. 12, 2011.

Henry “Mike” Anhol…………… continues on Atlantic City Press

… Read the full article


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