Allianz-owned Club Marine has started offering cover for race boats under a partnership with the Australian Offshore Powerboat Club.

Club Marine says its product provides protection for accidental loss or damage, theft or malicious damage to vessels while on land and on trailers.

“We are delighted to enter into a new relationship with the Australian Offshore Powerboat Club,” CEO Tim Wiles said. “This partnership reflects our commitment to supporting the sport and strengthening our connection with passionate boating enthusiasts across Australia.” 

Powerboat club president Antony De Fina said: “Insurance like this had previously been non-existent … It’s always a challenge with racing – we understand damage can occur under the pressures of competition, but it’s the fear of damage during transit, or even worse, theft of equipment while stopped overnight or locked away in a factory, so this provides some welcome relief.”