Providers
The insurer's role
The insurer is the entity that underwrites the policy and is legally responsible for insured claims, subject to the contract. APRA publishes a list of general insurers authorised to conduct insurance business in Australia.
The underwriting agency's role
An underwriting agency may design, distribute or administer a marine product and may be authorised to bind cover or handle claims on behalf of an insurer. The PDS and FSG should identify the relevant legal entities and licensing arrangements.
The broker's role
A broker generally acts for the client in arranging insurance, subject to the broker's terms of engagement and legal obligations. Specialist marine brokers can be useful for older yachts, unusual construction, bluewater cruising, commercial use or risks that do not fit standard online products.
Authorised representatives
A business or person may provide financial services as an authorised representative of an AFS licensee. ASIC's professional registers can be used to check AFS licensees and authorised representatives.
Who issues the policy and handles claims
When comparing policies, record the brand, product name, issuer or insurer, AFS licence details, claims contact and any intermediary. This helps you understand who is responsible for product issuance, advice, placement and claim handling.
Related guides
- How to Check a Boat Insurer or Broker in Australia
- Boat Insurance Companies Australia: Insurers and Agencies
- Financial Services Guides and Marine Insurance
- Boat Insurance Broker Australia: Services and Fees
- Boat and Yacht Insurance Brokers Australia: Broker Types