Marine insurance 'not quite so rosy'

Marine insurance 'not quite so rosy'

Marine insurance 'not quite so rosy'

The new MD of a marine insurer has stated that the space might not be as rosy as some would have you believe.

Jamie MacPhail, the newly appointed managing director of Pantaenius Australia, was discussing the firm and his plans to www.sail-world.com and said: “Looking at the Australian marine insurance scene, you get the impression that it may not be all as rosy out there as our competitors may have you believe. It is definitely going to be interesting to see where we end up.” 

Pantaenius Australia recently moved the headquarters of their operation to The Spit in Northern Sydney, a move MacPhail claimed has attached more attention for the firm.

“The move to The Spit has been a great thing for us, as it is far more active, with a greater number of people around. There are seven brokers in a 250-yard radius and customers down here all the time looking, inspecting, and testing," he said. 

 


 

3 Comments
  • M 23/01/2013 11:56:09 AM
    MacPhail is talking about boat brokers, not insurance brokers, right?
    Post a reply
  • Damian Harrison 23/01/2013 12:09:15 PM
    Going direct to insurers will invariably happen in the market anyway, but it just seems a strange attempt by the MD to try and threaten brokers into using their services, not realistically a good line to take.

    I have just had a quick read of their PDS, which states:

    "The Insurers of your Policy are a panel of Insurers may be made up of APRA regulated Insurers. It has been established an insurance underwriting panel to underwrite sail and motor yacht insurance under which a number of underwriters have agreed to underwrite a
    proportion of the Policy risk."

    Perhaps they need to spend some time brushing up on their use of the English language first, and ensuring that the PDS is clear and comprehensible.
    Post a reply
  • Tim Allan 23/01/2013 12:19:53 PM
    Let them eat cake.
    Post a reply