MARINA FIRES!
February 19,2005
Attention all slip owners:
Recently a devastating fire at the Pirates Cove Marina in Manteo is
reported to have resulted in the loss of at least 2 boats with an
estimated loss of $3.5 million dollars. This preliminary estimate does
not include any damage to the marina or the possible significant
financial liability associated with environmental clean up.
NOTE: “environmental” clean up costs are often NOT automatically included in
many boat owner insurance policies!
This event underscores the requirement in your “slip holder lease”, (page
5,para.13) whereby…lessee shall maintain on each boat utilizing the boat
slip, insurance coverage including liability insurance, at least at the
minimum levels as specified and to ensure that a copy of annual renewal
information or carrier statement is on file with the CLMA.
In this regard, all marina slip holder files are currently being audited and
you will be notified if additional insurance documentation is required.
Recent discussions with the insurance provider for our marina, re-affirmed
the decision by the CLMA Board of Directors, that any contractor working in
the marina is to have a minimum of $500,000 dollars liability coverage to
adequately protect all individual slip owners, the CLMA and the CLMHOA.
Your attention to ensure that your slip owner coverage is current and that
contractors doing work on your boat are adequately covered will help protect
the significant financial interest we all have in our new marina.
Your CLMA