Intact Specialty is introducing a new yacht insurance program in Tennessee, covering personal watercraft across a wide range of vessel types and sizes. The filing was submitted on April 2, 2026, and is currently under review, with the program set to take effect upon approval for both new and renewal business.

The launch represents a new product rather than a modification of existing business, meaning there is no rate impact tied to the filing.

From a coverage standpoint, the program includes standard marine protections such as physical damage, liability, pollution liability, medical payments, and uninsured or underinsured boater coverage. Physical damage is required and pays agreed value in the event of a total loss, while partial losses are generally settled without depreciation, except for select components such as machinery and upholstery.

The structure introduces a highly segmented rating model. Pricing is driven by a combination of vessel characteristics such as length, age, horsepower, and speed, along with operator profile, territory, and usage variables including navigation area and lay up periods. A predictive model factor is also applied, pointing to a more data driven underwriting approach.

Eligibility is primarily focused on pleasure use vessels, with guardrails around higher risk profiles. Risks such as high speed vessels, older yachts, prior losses, or operators with DUIs trigger underwriting referral, while certain exposures such as commercial use outside defined endorsements or very high risk operators are deemed ineligible.