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LANGKAWI – With its growing reputation as a maritime haven, Langkawi is steadily positioning itself as a global leader in yacht registration, particularly through efforts to increase the tonnage of registered yachts. As the local yachting community continues to expand, so does the demand for comprehensive and reliable insurance coverage.
P&I Malaysia is at the forefront of this initiative, working to raise awareness about the importance of marine insurance while expanding the options available to yacht owners. A recent engagement session at the Kuah Port Office, Marine Department of Malaysia, hosted by P&I Malaysia in collaboration with the Malaysia Marine Department, brought together stakeholders from CHUBB Insurance and the Langkawi yachting community.
The session, chaired by En. Norjipin Bin Saidi, Division Director of the Safety, Security and Environment Division of the Malaysia Marine Department, focused on critical issues including insurance coverage, regulatory compliance, and operational challenges faced by the yachting industry.
A highlight of the session was the introduction of CHUBB Insurance’s new yacht insurance scheme, a product specifically tailored to address the unique needs of the local market. This initiative aims to close existing coverage gaps, ensure better regulatory alignment, and offer greater peace of mind to yacht owners.
The engagement fostered open dialogue among participants and reaffirmed a collective commitment to collaboration and sustainable industry growth.
Looking ahead, P&I Malaysia’s CEO Mr Rudy anticipated the launch of the new Langkawi Yacht Code, combined with efforts to increase registered yacht tonnage, represents a major step forward. It reinforces the importance of marine insurance products like CHUBB’s Pleasure Craft Plus and sets the stage for greater participation from local insurers in the yacht insurance space.
Together, these developments will not only enhance safety standards but also strengthen Langkawi’s standing as a premier yachting destination. By ensuring that the maritime community has access to adequate protection and resources, Langkawi is charting a confident course toward becoming a global yachting hub.
