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Overseas travel insureance

Insurance situation arising from travel
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Buying insurance

Cover your property losses
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Guidelines for resolving disputes

This is how member companies resolve disputes.
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Commercial insurance

Insure against businessesdisruption
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Liability insurance

Liability Insurance is available in a number of forms covering specific Liability risks.
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Motor insurance

Motor vehicle insurance can cover you against accidental loss or damage to your vehicle
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Personal insurance

The types of cover available under personal insurance
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Marine insurance

Cover for commercial vessels and personal pleasurecraft
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Insurance fraud

An insurance claim is considered fraudulent when it is based on facts that are simply untrue
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Marine insurance


Introduction

Marine insurance covers:

  • Commercial Vessels
  • Personal Pleasurecraft

Commercial Marine Insurance

Commercial marine insurance includes:

  • Cargo
  • Fishing fleets
  • Hull

Minimum Liability Insurance For Foreign Vessels Entering New Zealand Waters

The Insurance Council is currently calling for legislation requiring all foreign vessels entering New Zealand waters to carry a minimum level of liability insurance.

A 1999 survey by the Insurance Council shows that many port authorities around the country support this view.

These vessels pose a threat to the environment because of the risk of pollution, and high clean-up and salvage costs. These costs are currently met by the New Zealand taxpayer.

New Zealand's open trade policy welcomes almost any vessel from any part of the world, and many foreign vessels enter New Zealand waters to undertake charter fishing and cargo carrying activities. A few of these vessels enter New Zealand waters in a sub-standard condition and are often detained by the Maritime Safety Authority because they are not seaworthy. Many other vessels enter New Zealand waters because they are banned from other ports around the world because they do not have acceptable insurance cover.

Older vessels, and those that are also sub-standard, are being refused into many European ports. Similarly, these vessels are not able to obtain liability insurance cover from secure insurers.

The Insurance Council is aware that many jurisdictions around the world now require evidence that foreign vessels entering their waters carries an adequate level of liability insurance through a secure (rated) insurer or Protection and Indemnity Club (P & I Club).

The Government already recognises the risks with foreign vessels as it has put forward the Foreign Vessel Crew Wages and Repatriation Bond Bill. If passed, this Bill will require vessel operators, owners or charterers, to pay a bond guaranteeing crewmen's wages.

The Insurance Council will be making submissions to the Government this year urging New Zealand to adopt compulsory liability insurance.

Marine Cargo Open Policy

A marine cargo open policy is an agreement between a merchant and an insurance company to insure all goods in transit within the agreement for an indefinite period, until either party cancels the agreement.

The policy specifies:

  • The general description of the goods
  • The countries or places to or from which the goods will be insured
  • The maximum value payable under the policy
  • How the goods will be valued
  • The conditions of insurance.

The merchant agrees to declare details of all shipments that fall within the scope of the policy, and the insurance company agrees to insure such shipments according to the terms and conditions of the policy.

Personal Marine Insurance

Personal marine insurance covers pleasurecraft purchased for personal use, and can include:

  • Yachts / jet boats
  • Water-skis / jet-skis

Special care information for boaties

Simple guidelines for boat operators to ensure their safety while out on the water.
The biggest risk for boaties in crowded waters is collision
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UsefulLinks

Boating insurance links
Find more on the topic
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Marine Cargo Open Policy Handbook

A marine cargo open policy is an insurance agreement between a merchant and an insurance company
Learn what the policy specifies
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