Club Marine to exit the New Zealand market | Instant News

Club Marine is leaving the New Zealand pleasure craft insurance market, the Allianz the subsidiary has announced.

The move comes after several Allianz businesses left New Zealand earlier this year, according to a statement from Club Marine.

Starting December 1, Club Marine will stop offering new business policies and will no longer update existing policies. The insurer said it would contact members before the cover’s expiration date to let them know that renewals would not be offered and to give them time to find coverage from a different provider. The company will continue to manage existing policies until they expire, accommodating claims and policy service inquiries.

“This has been a difficult decision for us,” said Karen Te Maipi, CEO of Club Marine. “Club Marine has been part of the New Zealand boating landscape for a long time and we not only have loyal members and passionate and dedicated staff, but we have also built valuable relationships with partners, suppliers and the wider boating community.

“On behalf of Club Marine, we would like to thank everyone for their contribution to the success of Club Marine over the past 30 years.”

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