Yacht owner receives US$ 20 million in insurance

The proprietor of Barbie, one of the two superyachts demolished in a fire in Turkey, got a US$ 20 million insurance payment. A unit of 14 Lloyd’s insurers paid US$ 20 million to the owner of Barbie, a hundred-seventy foot superyacht which was demolished by fire in January, in Turkey.

The yacht was made by Al Jadaf at its Dubai shipyard in the United Arab Emirates in 2006, was destroyed on 4th Jan, after a fire broke out on The One, a Lurssen built yacht in 1973. Both these yachts were moored in the Marmaris harbor. The fire spread quickly to the Barbie docked next to it.

In spite of serious efforts by the firefighters, both yachts were gutted, as per Lloyd’s syndicate Hiscox. In a statementto the Plainsailing website, Paul Miller, the Hiscox MGA director of underwriting, told that Barbie is the largest claim that the superyacht insurance market has had to deal with in quite some time. That it was paid in full within 60 days of the event will hopefully help the owner to reach closure from this traumatic incident.

Barbie was owned by Unal Aysal, a Turkish businessman, who was also the former president of the Galatasaray football club, reported a leading UK based newspaper. The One, earlier known as the Carinthia VI, was made by Jon Bannenberg and was one of first influential yachts of Lurssen’s. In a tweet, Bannenberg & Rowell, London-based yacht designers, told that the yacht would be missed.