Marine Skippers introduces wholesale for brokers

30 March 2023

Marine Skippers Insurance will soon offer its annual and single products to the broader broking market on a wholesale basis.

Sydney-based Marine Skippers, a corporate authorised representative of Community Broker Network which launched in mid 2022, is the first standalone policy available in Australia for commercially qualified and delivery skippers.

Underwritten by Lloyd’s, it provides a $5 million limit, covering the skipper vessel to vessel for craft they operate but do not own.

Co-founder Director Operations & Placement Dean Bowen says the threat of subrogation against a professional skipper operating or moving a boat they do not own remains, and wholesaling the Marine Skippers product has “always been on the cards”.

“We feel that now is the right time,” he tells insuranceNEWS.com.au. “This will be a great way for other brokers to be able to access this product for their clients.”

The product will be available to Australian intermediaries on a wholesale basis for both annual and single voyage policies.

“We have experienced steady growth and it has been welcomed by the broader maritime industry,” said Mr Bowen, who is the 2022 NIBA NSW/ACT Young Broker of the Year, while co-founder Nicholas Bedggood is the region’s 2022 Broker of the Year.

The single voyage product provides an alternative to annual policies given the seasonal nature of boat movements, for skippers who may only move boats up to a few times a year. It is available to skippers for boat movements and deliveries on a single voyage port to port basis.