According to the Association of Marina Industries (AMI), most of the approximately 14,500 U.S. marinas lack adequate risk-management processes. In some cases, the reason involves lack of financial resources to implement risk-management procedures. In other cases, lack of proper procedures is tied to lackadaisical management or failure to understand the importance of risk management. Sometimes marina operators believe they’ve done their due diligence to reduce risks and have simply overlooked some of the most common risk exposures at marinas. A comprehensive Marina Operators Legal Liability Insurance policy combined with these strategies will keep marina operators – and their customers – safe.
Take Steps to Prevent Fires
Marinas are full of boats, and boats are built with and full of flammable materials (fiberglass, wwood, rubber, gasoline, etc.) When boats are in dry storage, be careful to keep heat-generating equipment and machinery in another location. It’s beneficial to install a sprinkler system but, at the very least, make sure working fired detectors are located in all interior boat-storage areas.
Surprisingly, a common cause of boat fires is arson. Boat owners who fall behind on their payments are sometimes tempted to set there is a good deterrent. Another smart practice is to store boats whose owners are behind on their payments away from boats whose owners are in good standing. That will limit collateral damage if arson does occur.
To reduce the risk of violating Environmental Protection Agency laws, educate staff on proper materials management procedures, ways to reduce storm-water runoff, and best practices for shoreline stabilization. Preventing pollution also minimizes risks of employees becoming ill after being exposed to hazardous materials.
Plan for Natural Disasters
Being on the water, marinas face heightened risk from storms. Marinas located in areas prone to hurricane activity should ensure that all buildings and structures are constructed according to stringent building code standards so they’ll withstand hurricane-force winds.
Be Diligent about Maintenance
Loose dock planks or railings, improperly grounded electrical terminal, eroded pilings -all present extreme risks. Regular maintenance is essential to preventing injuries and accidents.
Mitigating risks is simply smart business. Even the best risk-management program is not foolproof. That’s why it is so important to have top-quality insurance protection. For all of your marine insurance needs, contact us at Mariners General Insurance Group, 800-992-4443.