Destroyed 'Barbie' Owners Get $20,000,000 In Insurance!

Author: Gemma Fottles
Date: March 21, 2016

The owners of the recently destroyed superyacht Barbie have been paid a total of $20,000,000 from a group of 14 Lloyd?s insurers, Hiscox MGA has recently announced.

She was destroyed at the beginning of 2016 in January, whilst moored in a marina in the Turkish town of Marmaris.

?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,? says Paul Miller, Hiscox MGA?s Director of Underwriting.

The iconic 71.05 metre Bannenberg designed vessel The One was also destroyed in the same fire in Turkey, sparking the beginning of a string of unfortunate superyacht casualties so far in 2016 including the Princess 95 Queen Anna, the Benetti superyacht Camarina Royale in Cuba, three 30+ metre vessels at the beginning of March in Abu Dhabi, and the Monte Fino motor yacht Positive Energy which was destroyed by a fire is St. Thomas just last week.

Can you imagine how much a megayacht would be paid out in insurance!

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