What are the insurance requirements for a Cayman Islands yacht?

Every Cayman Islands Ship shall carry insurance cover against risks of loss or damage to third parties. All vessels with a gross tonnage of 1000 or greater are additionally required to carry third party (Protection and Indemnity (P&I)) insurance to meet their liabilities under the Bunkers Convention and evidenced by a Certificate issued by the CISR. Please see Shipping Notice: CISN 01/2012 (Rev 1.1) regarding Insurance Requirements for Cayman Islands Vessels.