Ahoy! Expands Boat Insurance to Boat-Filled Florida Market

Ahoy! Insurance, calling itself an insurance company built by boaters for boaters, has expanded into Florida, one of the world’s largest recreational boating markets.

The excess and surplus lines broker was founded in 2021 by Amit Nisenbaum, a former Israeli naval officer who has led start-up companies; Kenan Hertz, formerly with USAA and Insurtech Advisors; and Shachar Segev, an engineer and vice president at U.S. and Israeli tech companies, according to company information. Bob Jones, who has worked with Progressive insurance companies, is vice president of distribution.

Ahoy!, with offices in New York, said it aims to provide one-stop shopping for insurance agents looking for boat coverage, for vessels up to 95 feet in length and up to $2.5 million in value, through an admitted insurance product written through Spinnaker Insurance Co. or through E&S coverage backed by Lloyds. The firm was acquired in spring 2024 by Bishop Street Underwriters, a growth oriented aggregator of niche MGAs and underwriting teams.

The Florida expansion for Ahoy! follows the recent launch of its yacht underwriting program for larger vessels, nationwide, the company noted. The Florida move comes at a pivotal time for Florida’s boating industry, as some insurers have raised premiums and have scaled back coverage offerings, the news release noted.