Barbie superyacht owner receives $20m in blaze pay out

superyachtinvestorteam
By superyachtinvestorteam March 21, 2016 16:59

Barbie superyacht owner receives $20m in blaze pay out

The owner of a superyacht destroyed in a fire off the coast of Turkey in January has received a $20 million insurance pay out from a consortium of 14 Lloyds insurers. The 170-foot vessel was gutted and left beyond repair in blaze in a harbour outside the town of Marmaris.

The Al Jadaf-built Barbie was rolled out from its Dubai shipyard and was destroyed on 4 January after a fire broke out on neighbouring 233-foot superyacht The One, built by Lurssen in 1973. Barbie had been insured by an arm of Hiscox and was owned by Unal Aysal former president of the Galatasaray football club. The fire broke out at 2am and took four hours to put out, according to reports.

Paul Miller, director of underwriting at Hiscox MGA, said: “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.”

The One was formerly known as the Carinthia VI and was designed by Jon Bannenberg.

superyachtinvestorteam
By superyachtinvestorteam March 21, 2016 16:59

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