Aug 21 (Reuters) - Yacht insurance provider OMAC is the

carrier on the hull for the Bayesian, a 56-metre-long (184-ft)

sailboat, that was hit by a ferocious storm on Monday, sinking

off the northern coast of Sicily, two sources with knowledge of

the matter said.

The syndicates providing insurance include Travelers

Companies Inc ( TRV ), Navium Marine and Convex, while British

Marine is the protection and indemnity (P&I) insurance provider,

the sources said.

Reuters could not ascertain the value of the yacht or what

the value of potential claims could be.

Ships typically have P&I insurance, which covers third-party

liability claims including environmental damage and injury.

Separate hull and machinery policies cover vessels against

physical damage.

Convex declined to comment, while OMAC, Travelers, Navium

and British Marine did not immediately respond to Reuters'

requests for comment.

The British-flagged superyacht was carrying 22 people and

anchored off the port of Porticello when it was hit by a fierce,

pre-dawn storm on Monday. Fifteen people managed to escape the

yacht before it capsized.

Four bodies were found on Wednesday aboard the sunken wreck

of the yacht belonging to the wife of British tech magnate Mike

Lynch, sources close to the rescue operation told Reuters.

The global yacht insurance market has faced significant

challenges in recent years, largely due to natural disasters

like Hurricane Maria in 2017 and Hurricane Ian in 2022, which

devastated numerous charter bases and hundreds of yachts.

In response, insurers have increased rates and reevaluated

their guidelines and risk appetite. Insured losses in the market

have mostly stemmed from hurricanes, severe storms, floods, and

other weather events in North America, the Caribbean, and

Europe, according to a report by broker Marsh.