XL Group’s North America Marine Insurance unit has launched a new suite of recreational marine coverage tailored to the needs of yacht owners called ShipShape.XL Group, which already provides insurance for large marine risks around the world, says ShipShape extends the company’s marine underwriting expertise and will be led by a team of underwriters with experience in the recreational marine industry serving the needs of owners of mega yachts and other high-value custom watercraft.“Yacht owners and other recreational watercrafts will benefit from this team’s industry knowledge and experience and can tap into XL’s global expertise and coverage network, helping protect their vessels wherever their global voyages take them,” said Richard DeSimone, President of XL Group’s North America marine business.“Our clients receive the best of both worlds — the strong capacity and experience of a global insurer like XL Group and the individualised attention that our team is committed to providing,” said Rick Salway, vice president of the new team. “We’re looking forward to introducing yacht owners to XL Group and, using the 40 years of marine underwriting experience to give them personalised attention to their individual needs that, I know, will distinguish us in the market.”With limits up to $50 million ShipShape provides a variety of coverages including liability coverage that extends to paid crew and includes Jones Act, General Maritime Law and Death on the High Seas Act; defence costs outside liability limit; medical payments extended to paid crew members; broad navigational limits; and veterinary service for pets.To customise the coverage to the yacht owner’s needs, the company says more than 30 different coverages are available including protection for additional living expenses, personal articles of significant value on the vessel, marine environmental damage and towing and wreck removal.