I blame the state of today's American marine insurance wholly in the hands of the American customers. In the first place, Americans are way too litigious. We can buy a 'hot' cup (isn't that what one seeks when they pay for a 'hot' cup?) of coffee in a car, stick it between our legs while driving and then get mega-rich off the company that sold that 'hot' cup to them. So, the insurance companies can be pretty certain that they will have numerous frivolous lawsuits every year from their boating customers. It only makes sense to keep the rates high, right?
And then there's the careless attitude and ignorance of so many American boat owners when it comes to storms of any kind, never mind named storms. How many times have we walked the docks of a marina and seen some nice boats tied to the dock with pretty colored Dacron dock lines? Or the attitude when a storm/strong front is approaching, "Oh well, the boat's insured and it's just too much trouble to travel to the boat to take off the sails and maybe double (triple?) up the lines."
So I can really see why the American marine market gets hosed on insurance. On the other hand, when I'm operating my own private boat for pleasure, just how much do the insurance companies expect me to bet against myself, with my credentials and many years of claim free experience (as a professional working captain) that I will need their services each year?
How about I bet you insurance companies that I won't wreck my vessel, or even make a claim? I'd be happy with that bet.