Marinas (Re)Insurance for marinas, yacht clubs and storage facilities.
At Intl. Broking Solutions, Corp (IBSCorp) we can (re)insured the liability exposures associated with the operation of a marina including those related to the care, custody, and control (C.C.C.) of watercraft. The coverage obtain may include both land and waterborne exposures located at the marina. A marina operator is responsible for affording vessels that make use of its facilities with a safe berth. To that end, the marina operator must advise a vessel operator of any hazards or deficiencies associated with the marina or the berth in which the vessel is to moor. When the marina operator fails to do this, the operator becomes liable to the vessel operator for damage that results from the unsafe berth. Our placements normally provide coverage for private pleasure vessels but may be endorsed to cover small commercial vessels should one dock at the marina.
At IBSCorp we are able to provide cover on a package basis for:
Designed to offer protection in respect of the legal liabilities including products liability, marina operators’ liability, boat repairers’ liability and pollution liability to third parties.
Buildings and Contents
Cover is provided against physical loss or damage to the buildings and contents at the location.
Travel hoists, Lifting and Handling Equipment
Cover is provided for physical loss or damage to travel hoists, lifting and handling equipment and for the daily lease charges in respect of such equipment where it is a total loss or the obligation to repair delays re-delivery.
Marina Installations, Piers and Pontoons
Cover is provided for scheduled items on a named-perils basis against storm, flood, fire, lightning, collision/impact, explosion, earthquake and volcanic eruption, accidents in loading/discharging and malicious acts. A sub limit is provided for cost of cleaning up following an accidental spillage of or pollution by oil or fuel.
Cover is provided against loss of gross profit as a result of the interruption to the insured activities due to a reduction in turnover or the increased cost of working resulting from physical loss or damage to property insured at the premises.
Vessels and Work boats
Cover is provided against all risks of physical loss of or damage to vessels and/or work boats including third party liability.
Please contact us for discussions regarding the parameters of cover needed.