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