Following the amendments made to section 29 of the Marine Liability Act the maximum legal limit payable to a third party for loss of life, bodily injury or damage to property as a result of a marine accident has been increased from $1.5M to $2.25M.
We have therefore increased the civil liability limit to $3M. This change is effective from April 1st, 2024 for new policies and from May 1st, 2024 for renewals.
To further protect you, we would like to remind you of the importance of acquiring adequate coverage in the event of a liability claim.
