Quote of the Month

Quote of the Month; The Commodore of the club leads by example, usually he leads round the race track as well-Joe King.

Monday, December 12, 2011

Trimaran Insurance

Since September insurance companies in Australia have pulled out of insuring trimarans. They believed the trimaran pool was to small for the amount of claims they were receiving. With a national push by several of the Multihull heavyweights it looks like some major progress has been made. Please read the email below.....

Good Afternoon Gents,

We have considered the predicament facing Trimaran owners and confirm we will re enter the market to provide Comprehensive Cover for both Cruising & Racing Trimarans. This decision applies to both moored and trailerable craft up to a maximum of 25years of age . Our normal Underwriting criteria with regard to construction type, claims experience etc will apply . This decision is effective immediately Our decision to cease offering cover on trimarans previously was focussed on results, our return to this market will still be focussed on results and a revised approach to underwriting will be portrayed across the portfolio . We cannot guarantee rating and excess structures may be as before although our aim is to give trimaran owners viable options on their insurance needs. Nautilus is a market leader in pleasurecraft insurance and also considers itself a close partner of the boating community, we hope this solution is something that will address recent issues around multihull owners and their pleasurecraft insurance needs. I am more than happy to discuss or meet with any owners re any requirements or suggestions you have in relation to Insuring Tri’s.
 Regards Damian Pugh National Underwriting Manager Over 100 years of marine insurance expertise We're here to help - 1300 780 533 Tel: 07 3396 2344 Fax: 07 3396 2399 http://www.nautilusinsurance.com.au

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