Complaint Review: Markel American Insurance

i am the owner of a party boat in brooklyn ny.i insured my vessel with markel in 5/02 after having two coastguard inspections certifying my vessel to carry 149 passengers.markel accepted my application for insurance and issued a marine policy covering my vessel for damages and liabilty.well on dec 14 02 my vessel ran a ground after hitting a sandbar that was located in a navigable channel.the buoy was mislocated and has since been repositioned by the us coastguard shortly after our accident.significant damage was done to my vessel and under the supervision of surveyors hired by markel was repaired in a shipyard.they would not replace the damaged engine but my mechanic was told to rebuild it.against his wishes he did.

markel refuses to accept responsibilty in paying the claim so i had to lay the money out of my pocket to have the boat released from the shipyard($50,000).after i got my boat out the engine that needed to be replaced blew because my mechanic states that it was to damged to be rebuilt to begin with.but thats what markel surveyors would approve.markel still is not honoring the entire claim to begin with.i have lost my business due to their neglect and am stuck paying dockage fees .notes and guess what? insurance premiums to markel.they are claiming that the boat was unseawothy from policy inceeption.i cant understand because the vessel was certified by the us coast guard and still is.

the coastguard reinspected the vessel after the accident damage was repaired,this company just doesnt want to honor its contract and they put me out of business.i cant let them get away with this fraud.i have laid out nearly 100,000 dollars since this accident plus an additional 5500 dollars in insurance premiums to markel in insuring a boat they claim is unseaworthy. please help

Stephen
staten island, New York
U.S.A.