A well prepared governance pack reduces these risks. It demonstrates a clean ownership structure, transparent decision making, and a coherent operational chain of command. Most importantly, it ensures the owner and their advisers can respond immediately to the information requests that typically arise in a casualty or incident.
What a governance pack should contain
Rosemont Yacht Services recommendations below are based on our experiences of:
- Standard P&I Club practices for claims handling
- Typical documentation expectations under International Group (IG) P&I clubs
- Common governance requirements seen in yacht ownership SPVs, technical management agreements, ISM/ISPS frameworks, MLC, and charterparty authority matrices
- Industry-wide best practice for structuring “governance packs” for yacht-owning companies to ease P&I renewals and post-incident claims workflows
Corporate and ownership Records
A P&I Club will often ask for corporate details of the owning company or special purpose vehicle. The governance pack should include certificates of incorporation and good standing, registers of directors and members, ultimate beneficial ownership details, and sanctions screening results. Board resolutions authorising yacht acquisition, commercial or private use, financing arrangements, and the appointment of managers and captains are also essential. Clear signing authorities and powers of attorney help the Club quickly confirm who is permitted to act on behalf of the owner.
Operational and management documents
Operational governance is equally important. Key items include the Document of Compliance, Safety Management Certificate, ISM and ISPS manuals, minimum safe manning documents, and evidence of MLC compliance. Crew management agreements, authority matrices, and the captain’s reporting lines should be set out clearly. These documents allow insurers to understand how the vessel is operated on a day to day basis and how incident reporting flows through the management chain.
Charter, VAT, and trading documentation
Where a yacht engages in chartering or seasonal commercial activity, insurers often request the charterparty, authority to contract, and any fiscal arrangements such as VAT registration, fiscal representation, or Yacht Engaged in Trade (YET) documentation. Trading certificates including registry documents, Class certificates, P&I and H&M insurance summaries, and any recent surveys or rectification records should be included.
Insurance and financial Records
A full record of the vessel’s insurance cover is essential. This includes the P&I certificate of entry, blue cards, hull and machinery schedules, war cover, and ancillary risks if applicable. Financial governance, including bank KYC letters, premium payment confirmations, and a counterparties list, further demonstrates that the structure is well maintained and compliant.
Keeping the pack effective
A governance pack is only useful if it is up to date. Owners should maintain a structured digital data room, apply quarterly reviews, and ensure all managers and captains know where to find the index. A short incident notification protocol aligned with the insurance policies avoids unnecessary complications during early stages of a claim.
How Rosemont Yacht Services can help
Rosemont Yacht Services assists owners through offices in Monaco, Malta, and internationally by designing, implementing, and maintaining yacht ownership structures with clear governance and efficient documentation systems. Our team works closely with captains, managers, and insurers to ensure that ownership and operational frameworks meet industry best practice. For assistance preparing or reviewing your governance pack, our specialists are available to support you.
For more information, please contact rys@rosemont-yacht.com
11/2025