Is the security of this insurance sound?
Yes. Trident place cover with both Certain Underwriters at Lloyds or QBE Australia Ltd as security for our policies issued under binders. Both these insurers are “A” rated or better under Standard and Poors insurer financial strength ratings.
Can I arrange blue water sailing with Trident?
Yes. Due to the more complex nature of this arrangement, however, we would ask that you download the proposal form and forward the completed document to our office. The Trident team will review your requirements and then contact you to discuss your insurance options.
Each time I attempt to obtain a quotation, I am told there is a referral. What is this and how long do I need to wait?
Trident’s referral process allows one of our specialist underwriters to evaluate your individual circumstances. The expected response time is within 48-hours. If your situation is urgent, please feel free to phone us and we will do our utmost to give priority to your quotation.
Will you arrange insurance for racing which is national rather than the normal club racing?
Whilst we do not provide quotations for all Australian racing, in most cases we can assist. Please contact us with the full detail as early as possible, so your proposal can be completed for you.
My boat is an older wooden boat. Can you arrange cover on these?
We will need additional information and usually a survey on these boats. If they are well maintained we can usually assist.
My marina is asking for evidence of P&I cover. What is this?
P&I is the industry term that relates to third party injury or damage. Indemnity levels range from $5,000,000 to $20,000,000 or more. If your current policy needs revision please speak with us to arrange insurance to match your requirements.
Does Trident arrange insurance on commercial boats?
Yes. One of our trained team will be happy to discuss this with you.
Am I protected by APRA (Australian Insurance Laws) when I’m insured with Trident?
Yes, and this is a very important question to ask. APRA stands for the Australian Prudential Regulatory Authority which establishes a system of financial supervision of general insurers in Australia.
It is important to point out to you that whilst Unauthorised Foreign Insurers are permitted to transact business in Australia, they may not provide the same protection as placements with Insurers you will access via Trident or other insurers supervised by APRA.
If your insurance provider is not APRA approved you may be exposed to additional risk in regard to the financial stability of an Unauthorised Foreign Insurer and the manner in which their claim disputes are handled.