Marina Operators Liability Insurance

This insurance policy covers the insured’s liability for damage caused in their role as a marina operator, as stipulated by the Obligations Act and Law on Maritime Property and Marine Ports.

This liability includes compensation to the owner or third party for any damage caused to their property, as well as liability for death and bodily injuries.

Each type of marina, depending on the type of services provided, must satisfy minimal requirements with respect to construction, furnishing and equipment, as stipulated by the relevant Marina Classification Rules and other special regulations.

A marina which does not satisfy the minimal requirements stipulated by the relevant type-specific Marina Rules cannot be a subject of insurance.

The insurer is obliged to pay out compensation up to the sum insured stipulated in the policy for damage caused by the insured to third parties arising out of their registered activity, for damage caused by a single loss event, and costs of determining their responsibility.

The insurance covers damage to a vessel during its stay at a marina:

• for the period of agreed safekeeping and maintenance
• while outside the boundaries of the marina for the execution of works under the insured’s responsibility, including transportation to that location by sea or land
• for the damage occurring during test drives within a 10 nautical mile radius of the marina
• on dismantled parts of the vessel, which was received into custody and maintenance within the boundaries of the marina, excluding the risk of theft [except for burglary, which is covered by the policy] or inexplicable disappearance of that part
• damage arising out of the insured’s service centre activities, regardless whether the vessel was received for safekeeping or not
• damage incurred by burglary on the vessel while in the marina waters, or on its territory for safekeeping and maintenance, provided that the items were in an enclosed and locked space in the vessel

The insurance may cover damage to the marina, at an additionally agreed and paid premium:

• on third party property, arising out of works which are part of the marina activities
• due to third person death or bodily injury within the boundaries of the marina
• as a result of pollution by fuel or lubricant leakage caused due to the fault of the insured, where the insurance covers only cleaning costs for the vessels received for safekeeping and maintenance, as well as beach cleaning costs

The premium rate is applied to the total annual income from the insured’s activity which does not include any income from catering and commercial services.