Marine Insurers Unite In Wake of Cyclone Ului Carnage
Following the fury that Cyclone Ului unleashed on the central Queensland Airlie Beach resort recently, marine insurers Nautilus Marine and one of their major competitors set aside their commercial competiveness to pool resources and aid the owners of pleasure craft.
Mark Crockford, National Marketing Manager of Nautilus Marine, stated that in such cyclonic conditions, the boats and their owners come first.
“We had a few days advance notice that Cyclone Ului was bearing down on the coast of Queensland,” Mark Crockford said.
Nautilus Marine had a marine loss adjuster in Airlie Beach two days before Cyclone Ului hit the area. The loss adjuster spent his time organising cranes, securing storage facilities and meeting with the local government people to ensure that everything was in place to expedite the salvage of damaged boats from the water.
“When you get a cyclone that blows hard for up to five days, moorings are blown away and berths are battered. Every boat in the region is vulnerable.”
In the aftermath of the cyclone, Nautilus Marine and their competitor agreed on an action plan two days before the cyclone struck. It was agreed via a common assessor, that following the cyclone the boats that had best chance of repair would be removed first, regardless of which company the boats were insured.
“This strategy allowed us both to minimise the amount of money spent on repairs and allowed the owners to have their boat back sooner.”
By mid week Nautilus Marine had receioved15 claims to an estimated value of $900,000. This figure covers six boats that have been written off, and the final costs are expected to increase slightly.
Following the last big storm that hit the area two years ago, one that saw similar carnage, Nautilus Marine invoked a sound underwriting decision to not insure boats while they lie on a swing mooring in this region. Covering boats on a swing mooring provides owners with a false sense of security while at the same time exposing the underwriters to an excessive level of exposure.
By having the loss adjuster on site before Cyclone Ului struck, with post cyclone infrastructure in place and having a sound rescue plan mapped out to recover damaged vessels, Nautilus Marine demonstrated to policy holders that the company was well prepared for the task ahead.
And by putting their commercial rivalry aside for the betterment of boat owners, the best possible outcome under the trying circumstances has been achieved.
With over 125 years of marine insurance expertise between the senior Nautilus Marine executives, Nautilus Marine is absolutely committed to providing high levels of customer service, backed by local knowledge.
Nautilus Marine Insurance Agency (ABN 34 100 633 038 AFSL 227186) is a wholly Australian owned insurance agency that provides insurance programs for boat owners and for the marine industry, underwritten by Wesfamers General Insurance Limited trading as Lumley Insurance (ABN 24 000 036 279 AFSL 241461). Nautilus Marine has offices throughout Australia.
For further information on this story contact:
Mark Crockford
Nautilus Marine
28 – 32 George Street
Sandringham. Vic 3191
Ph: (03) 8599 5000
Toll free 1300 780 533
Email: markc@nautilusinsurance.com.au
Web: www.nautilusinsurance.com.au
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