New cover provider Marine Skippers Insurance has this week launched within Australia.

Company Founders and MDs Nicholas Bedggood & Dean Bowen tell insuranceNEWS.com.au the product is the first and only standalone policy available in Australia for commercially qualified and delivery skippers.

The new policy provides a $5 million limit, covering the skipper vessel to vessel for craft they operate but do not own.

“The threat of litigation is a concern for skippers, yet a stand-alone product – which is available in Europe and the US – has not been available in Australia until now,” Mr Bedggood said, adding he has been continually asked about standalone liability insurance for marine skippers for years and had a goal to create a solution.

“Having grown up on boats all of my life - and considering myself a marine insurance specialist after working within the boating industry for many years - I am extremely proud of this achievement,” he said.

Mr Bowen says the stand-alone coverage has never existed within Australia and the team are “extremely proud” of the new product.

“There is a clear demand and need,” Sydney-based Mr Bowen said. “Nicholas and I have combined our different skills sets and worked together over the past 18 months to source capacity. I am very excited for what is to come with Marine Skippers Insurance.”