Marine and Marine Cargo Insurance

Marine insurance is concerned with insuring vessels, cargoes and related marine liabilities and covers many risks associated with exporting primary produce and importing agricultural related goods, raw materials for manufacturing, manufactured goods and consumer items.

There are centuries of tradition, trade practices, maritime and international commercial law that affect international trade and marine insurance.

Anyone who is at risk of suffering a financial loss should cargo be lost, damaged or destroyed – or who would benefit from the safe arrival of the cargo – has an insurable interest and a need for cargo insurance.

ICNZ’s Marine Cargo Open Policy Handbook has been designed for importers, exporters and insurance advisors and can be downloaded here

Pleasure Craft – Protect your investment against theft

December 21, 2016

New Zealand Police are seeing on average 24 boats per month being stolen throughout New Zealand. Unfortunately the recovery rate around only 20%. This is partly due to the non-recording of both serial numbers and identifying features of boats, trailers and outboard motors by their owners.

A significant number of trailered boats are stolen from residential front yards and driveways.

The Insurance Council and New Zealand Maritime Police recommend:

  • Trailered boats be stored out of view from the road and driveway
  • Boat trailers be chained and locked to an immoveable object such as house foundations or a concrete-set steel ring
  • The use of boat trailer wheel clamps will deter some thieves
  • Use purpose security locks for the outboard motor. Outboard motors, particularly the newer models are frequently stolen no matter how heavy they are
  • Remove auxiliary motors from the boat and all gear if the boat is stored out in the open
  • Record serial numbers and any identifying features of your boat including motors and trailers
  • Unique identifying features that will not be obvious to thieves and should be recorded. Digital photographs and cell phone images are ideal.

Thieves will often disguise a stolen boat by repainting and renaming it and swapping trailers and motors, so hidden unique identifiers are important. For example a splash of paint under the seats.

Police may struggle to identify a stolen boat and its gear without hidden unique identifiers.