|Insurance for vessels over 15 m
It is compulsory for all vessels over 15 metres to have insurance sufficient to pay for potential pollution clean up, salvage and wreck removal.
The insurance policy must meet the following requirements:
This requirement was introduced on 17 May 2007 with a change to section 67A of the Transport Operations (Marine Pollution) Act 1995. Vessel owners were given 12 months to obtain the necessary insurance before the requirement became compulsory on 17 May 2008.
- All recreational ships more than 15 metres but less than 35 metres in length must have an insurance policy that provides A$250,000 for pollution clean up and A$10,000,000 for salvage and wreck removal.
A current certificate of insurance must be carried onboard and be available for inspection by compliance officers.
Penalties apply for noncompliance.
For vessels over 35 metres there has been no change. These vessels are required to hold appropriate insurance under the Transport Operations (Marine Pollution) Act 1995.