Navigating the Complexities of Marine Liability and Property Insurance Claims

Jan 15, 2024

With the myriad of risks involved in maritime operations, from asset damage to legal liabilities, understanding, arranging and managing these insurance is vital for businesses and individuals in the marine sector.  

Consequently, navigating & negotiating the complex interplay between marine liability and property insurance is crucial to get the optimal result from a claims process in today’s maritime industry. 

Trident Insurance Group stands at the forefront of providing tailored solutions in this field, ensuring comprehensive protection for a wide range of maritime stakeholders and, thereby, giving the best outcome if a claim arises. 

Understanding marine insurance 

Marine insurance plays a pivotal role in the maritime industry, offering essential protection for various stakeholders. It covers: 

Asset protection 

Ships and vessels: Commercial Hull insurance covers physical damage to ships and vessels, which are significant investments. Given the harsh marine environment and risks like collisions, grounding, and weather-related damage, this coverage is vital for the financial protection of shipowners or charterers. 

Cargo / Marine Transit: The insurance covers movement of cargo or goods locally or internationally. These goods can be of high value and susceptible to a range of risks during transit, including rough handling, theft, and exposure to adverse weather conditions. Correctly arranged insurance helps mitigate the financial impact of cargo loss or damage. 

Maritime facilities: Facilities such as docks, ports, and terminals are critical infrastructure in the shipping industry. Damage to these facilities, whether by natural disasters, accidents or operational mishaps, can be financially crippling. Insurance helps protect the investment in these facilities and ensures their speedy recovery and repair. 

Financial stability 

Business continuity / Cash flow protection: In the event of damage or loss of assets, Business Interruption insurance provides the necessary financial support to maintain the business during repair or reconstruction of the facilities. In essence, it safeguards the company’s cash flow and operational stability. 

Risk management: By transferring the financial risk of maritime operations to an insurance provider, businesses can better manage and predict their financial exposure, which is crucial for long-term planning and investment. 

Marine Liability Insurance 

Trident Insurance is a trusted partner in the marine insurance sector, catering to a diverse range of marine-related entities. These include marina facilities, yacht clubs, marine detailers, trimmers, mechanics, and engineers, shipwrights, boat builders, marine electricians, boat yards and stackers, and commercial fishing boats. 

Our comprehensive range of marine liability insurance products include: 

  1. Ship repairers’ liability: This policy is customised for boat builders and related businesses. It safeguards against liabilities arising from their activities, including vessel repair, alteration, or movement. It covers damage to vessels under their care and third-party liability for bodily injury or property damage.
  1. Marine combined liability: Designed for diverse marine-related businesses, this comprehensive policy covers public liability, pollution liability, and products liability. It offers financial protection against claims for bodily injury, property damage, pollutant release, and issues caused by sold or supplied products Statutory Liability.
  1. Protection & indemnity (P&I): P&I insurance operates under a mutual club arrangement, providing on-water liability coverage for commercial operating vessels. It covers liabilities for bodily injury, property damage, collision liability, pollution, wreck removal, and associated legal costs.

Coverage aspects by Trident Insurance Group 

Trident Insurance Group can arrange a comprehensive Marine Combined Liability insurance covering various aspects: 

Public liability: This coverage protects businesses from legal liabilities due to third party personal injury or property damage related to marine operations. Significantly, the policy does NOT have a boat length limit & cover is extended to anywhere in Australia.  

Product liability: Designed for businesses that import, produce or manufacture marine-related products, offering protection from legal liabilities if these products cause harm or damage to others. 

Ship repairers’ liability: This insurance is vital for those involved in the repair or maintenance of ships and watercraft, covering liabilities arising during the repair process. 

Goods in care, custody & control: Provides protection for customer properties, including vessels, that are under the care of the business to the limit of liability purchased. 

Removal of wreck: Covers the costs of removing wrecked or sunken vessels, which is essential for environmental and navigational safety. 

Statutory liability: Addresses fines and penalties from claims related to non-compliance with legislative regulations. 

Claims process with Trident Insurance 

The claims process with Trident is designed for efficiency and clarity. 

Prompt reporting: Immediate notification of an incident is critical for a swift claims process. 

Assessment and investigation: Trident conducts a thorough investigation to assess the extent of damage and determine the claim value. 

Expert assistance: Trident provides access to experts in maritime law and insurance to navigate complex claims. 

Settlement: Aims for a fair and timely settlement of claims to minimise disruption to business operations. 

Who benefits from this insurance? 

Trident’s marine insurance is tailored for a wide range of clients, including: 

Marina facilities: Bespoke coverage for small and large marinas, protecting against liabilities arising from the business operations and property damage. 

Yacht clubs: insurance for clubs including the hosting of events and regattas, covering risks related to on-water activities and club facilities. 

Marine detailers: Coverage for liabilities arising in marine detailing and maintenance, dealing with valuable vessels and customer property. 

Marine trimmers: Insurance for upholstery and trimming services, addressing liability risks associated with their work. 

Marine mechanics & engineering: Comprehensive coverage for repair shops and engineering firms involved in vessel maintenance, covering public liability, product liability, and ship repairers liability. 

Ship Builders: Coverage for unique risks like defects in watercraft construction. 

Marine electricians: Insurance for electricians working in the marine sector, covering risks associated with electrical installations on vessels. 

Boatyards and stackers: Liability coverage for boat storage facilities, protecting against property damage to customer vessels. 

Additional coverage options 

Trident Insurance offers property damage coverage for various marine assets that are often difficult to insure.  

This includes  

  • boat sheds, crucial for storing boats and equipment;  
  • wharves, vital for marine operations;  
  • private and commercial jetties, with each having distinct insurance needs based on their usage and risks; and community and  
  • commercial marinas, bustling centres requiring comprehensive coverage.  

Insurance is key for protecting these assets against damages from natural and operational risks. 


Marine liability and property insurance are integral components of risk management in the maritime industry. Trident Insurance Group’s bespoke insurance solutions offer robust protection for diverse maritime entities, from commercial vessel operators to yacht clubs to marine trades.

Our expertise in handling complex claims and providing additional coverage for hard-to-insure marine assets underscores the importance of having a knowledgeable and specialised insurance partner in this challenging industry. For a detailed understanding of these insurance services, consider exploring the offerings of Trident Insurance Group. 

Feel free to reach out to our insurance expert today for more information.