Buzz

Buzz

U.S. Insurance Companies Can Now Cover Cuba-Bound Vessels

10-May-2016

The effects of President Barack Obama’s new diplomatic ties with Cuba are rippling to the boating world. Although there are still certain official restrictions on travel to the island country, U.S. insurance companies/underwriters may now provide vessel insurance to boaters with authorized activity in Cuba.

Changes came after an update to the Department of the Treasury’s Office of Foreign Assets Control (OFAC) regulations in regards to Cuba in late April. Previously, policies would have to be sourced and underwritten through another country, more often than not the United Kingdom. Companies can now cover Cuba as part of a typical Caribbean navigation area. Travel to Cuba, however, must fall within 12 authorized categories, including family visits, journalistic activities, educational activities, professional meetings and more. 

For more information on visiting Cuba by boat, visit WaterwayGuide.com.

[Photo via Angelo Domini on Flickr.]

Paul Gauguin Cruises