Unfortunately, shipping accidents, cargo loss, vessel damage, and injuries occur more frequently than we might expect. Therefore, it is crucial to take the necessary precautions and secure the appropriate cover for your marine business.
Marine Liability Insurance is specifically tailored for Marine Operators, Ship Repairers, Yachting and Boating Clubs, and Freight Forwarders. It is designed to protect your marine business against legal liabilities and property damage claims.
Do I need Marine Liability Insurance?
You and your marine business would benefit from a Marine Liability Insurance policy if:
- You are a Ship Repairer
- You are an import/export marine business
- You own a private Yacht
- You’re a Port Operator (Slipways and Marina’s)
- You operate a Charter service
What Does This Insurance Cover?
Public and Products Liability insurance generally excludes coverage for liabilities arising from the use or navigation of watercraft. To address this gap, Protection and Indemnity cover is essential to ensure comprehensive protection.
Your Protection and Indemnity Insurance policy, arranged through Clearlake Insurance, can include:
- Coverage for injuries to crew members not covered by Workers Compensation or Seafarers Liability
- Coverage for deviation expenses
- Coverage for legal assistance and defence costs, which is often excluded but deemed essential for commercial operators
Additionally, Clearlake Insurance can negotiate ‘Specialist Operations Coverage’ for vessel operators engaged in specific tasks such as navigational marker maintenance, seabed or seafloor works, and subsea pipe laying, if required.
General Advice Warning
The information provided on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice on this website is General Advice and does not take into account any person’s individual investment objectives, financial situation or needs. Before making a decision based on this advice you should consider whether it is appropriate to your particular circumstances.
Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a disclosure document, including the Product Disclosure Statement (PDS) and, where available, Target Market Determination (TMD) relating to the product and consider the content before making any decision about whether to acquire the product.
Authorised by Clearlake Insurance Brokers ABN 16 651 113 861 AFSL 559829
How Clearlake Insurance can help
Our deep industry knowledge stems from extensive experience in the global market. Over the years, we have built a reputation for integrity, innovative solutions, and exceptional service. For you, this translates into tangible benefits, personalised attention, and prompt claim settlements.
For more information or to arrange cover, please contact us on 02 9037 8970 or simply fill out the form below and one of our insurance brokers will get in touch shortly.
