The Crombie Lockwood NZTYA insurance group is one of the main funding sources of the NZYTA. The association receives payment from Crombie Lockwood Insurance Brokers directly related to the premiums paid by those members participating in the insurance group. It is funding that is most appreciated and very necessary.

Your local club, trailer yacht squadron or class association secretary will have a information pack on hand that will include a brief description of the latest coverage and the current premiums etc. These new packs are expected to be updated yearly.

However, some of the most important facts will not be in the information folders. It is information not known by all as personnel changes have been many over the years and this is the history of the insurance group and its support to the NZYTA. Here are a couple of quick questions for you:

1. How long has the insurance group been operating??

2. How many years has the NZTYA been receiving funding from the insurance group??

Answers:

1. The group was started back in about 1976 by Graham Dowling now with Crombie Lockwood in Tauranga.

2. Funding to the NZTYA began soon after and while the actual date is shrouded in the mists of time it probably commenced in the same year.

Yes, that's right, the NZTYA has been receiving financial support from the brokers for about 30 years!! Insurance group membership numbers have been up and down over the years and it is fair to say that this has generally been relative to the effectiveness of the NZTYA and the club, squadron and association executives. Generally, when club membership numbers have been up so has the number of trailer yachts insured through the insurance scheme and to complete the circle the financial support to the NZTYA has been greater.

The principle involved with the group is to have Trailer Yacht claims dictate Trailer Yacht premiums without the influence of other types of vessels. The insurer chosen by the broker is Vero Insurance Ltd. (previously named Royal/Sun Alliance) who have an experienced marine hull department and who have worked well with the broker to make this group a success.

Schemes such as this need volume. They need participation by a majority rather than just a few it in order to continue to be a success and in this case to continue to provide funds to the NZTYA. In the previous years the scheme rates were considerably less than individual premiums elsewhere, in fact there were instances where the cost was less than half the cost of other quotations. The premiums then were a real breakthrough for trailer yachts and while the current terms are not that much different from those in use in say 1980, the cost of hull insurance over all is much lower than it was. Therefore, while the savings may not be as great you, as members of clubs, squadrons and associations affiliated to the NZTYA you do directly benefit from the funding package. It is not all about the amount of premium saving it is also about support, firstly from you to the insurance scheme and in turn from the scheme by way of financing back to the NZTYA which is effectively financial support to you as its members.

To summarise; the NZTYA and you as it's members have received great financial support from the brokers for your insurance group for many years. It is important that we as members with trailer yachts to insure support the Crombie Lockwood/NZTYA insurance group brokers and ensure the continuation of their ongoing assistance.