SUPPORT – HB1033 – RELATING TO MANDATORY VESSEL INSURANCE COVERAGE

Requires owners of vessels originally manufactured at a length of 26 feet or more, or less than 26 feet if the vessel is grounded, who are required to be registered with the State or required to be documented by the United States Coast Guard, to obtain marine insurance. Specifies the type and minimum amount of marine insurance coverage required. Allows the Department of Land and Natural Resources to exempt certain transient vessels from the marine insurance requirement, under certain conditions. Authorizes the Department to adopt administrative rules concerning marine insurance.

Leave a Reply