Nautilus Marine Insurance completes purchase of SPT Insurance PWC portfolio, effective 1st August 2023.
Established for over 18 years, Nautilus Marine Insurance is a leading and innovative insurance provider of insurance solutions to the Australian and New Zealand marine leisure market. Providing quality cover for private vessels, marine businesses, and supporting the industry is at the very heart of what they do.
In July 2022 Nautilus Marine Insurance partnered with SPT Insurance to manage and underwrite SPT’s established Personal Watercraft (PWC) portfolio. Over a 12- month period both teams worked closely together to ensure a smooth transition took place. The successful result produced enhancements in cover and competitive premiums, and a streamlined market approach for existing and potential clients. The successful partnership between Nautilus Marine Insurance and SPT has progressed to the stage of a full purchase agreement of the portfolio. The completion of the purchase process will be effective as of 1st August 2023.
Lyndon Turner, CEO of Nautilus Marine Insurance, commented on the announcement. “I have been associated with SPT directors Brian Salisbury and Roslyn James and their team for over 20 years now.
We have always respected their specialised PWC program and have had a positive experience underwriting it. To be able to look to the future by completing this full purchase transaction is an exciting move and we look forward to providing first class insurance to the customers.”
SPT Insurance Principal Brian Salisbury comments “SPT Insurance has been in the marine insurance market for 38 years, and throughout that time we have placed integrity, caring service, and reliability at the heart of what we do. We also highly value expertise and long-term relationships and have known Lyndon and members of the Nautilus Marine Insurance team for many years. So, we knew partnering with Nautilus Marine Insurance would lead to significant benefits for our customers. Nautilus Marine Insurance share many similar values with SPT Insurance and are experts in the marine insurance space, offering a premium product with quality coverage, service and claims support. The portfolio purchase is a natural evolution of our partnership with Nautilus Marine Insurance and we take great comfort in knowing that our customers will be in safe hands with the Nautilus Marine Insurance team.”
The successful outcome of the transition, and enhancement of the PWC product offering, is seen by all parties as an endorsement of many years of hard work from the SPT Insurance team, coupled with Nautilus Marine Insurance’s purpose-built PWC wording and dedication to the marine industry.
Glen Schembri, Head of Client and Market Development for NM Insurance, has been responsible for ensuring a seamless transition for SPT and its valued clients. “The years of hard work from SPT building a great reputation and portfolio with Jet Ski (PWC) owners coupled with Nautilus Marine Insurances purpose built PWC wording and dedication to the marine industry is a perfect match.”
Nautilus Marine Insurance say it “is excited to enhance our support for insurance broker partners and actively seeks engaging conversations with organisations that share our values and objectives”.
Nautilus Marine Insurance’s PWC policies include:
· Dedicated personal watercraft policy wording
· Australia-wide theft coverage
· Water Skiers liability covered as standard
· $10,000,000 legal liability as standard
· Fleet policies for multiple PWC owners
· Option for Lay-Up cover for the months you are not using your Jet Ski
About Nautilus Marine Insurance
Nautilus Marine Insurance are a leading provider of insurance solutions for recreational vessels and marine business assets across Australia and New Zealand, protecting over 45,000 vessel owners and marine industry members. For over 17 years, Nautilus Marine Insurance has been a specialist supplier of insurance for pleasure craft and marine business assets and liability insurance. Nautilus Marine Insurance provide coverage for pleasure craft of all sizes, ranging from sailing dinghies and PWCs through to yachts, runabouts, and luxury motor yachts as well as commercially operated boats and marine businesses. Through its Industry Lines division Nautilus Marine Insurance also specialises in providing tailored business insurance for clients servicing the recreational boating market including marina operators and owners, yacht clubs and boat clubs, boat dealerships and most marine trades including boat repairers and boat service providers. Thousands of professional insurance advisers and brokers choose to work with Nautilus Marine Insurance. These insurance experts trust the breadth of Nautilus Marine’s products and claims support to recommend our products and services to their clients. Nautilus Marine Insurance has a passionate team of over 80 staff and offices across Australia and New Zealand. Nautilus Marine Insurance is a business name of NM Insurance Pty Ltd.
For specific terms and conditions, please refer to the PDS and TMD that can be found on their website at www.nautilusinsurance.com.au, or refer to your insurance policy certificate.
