Boating collisions more than double in two years

Reported boating collisions more than doubled in the past two years, from 17 to 41, according to figures released by the Insurance Association of Malta (IAM).

The figures show that reports of fire and theft from vessels remained consistent, with nine and 12 respectively registered in 2024, where there were 216 reports related to ‘other damage’, and 20 instances of sinking.

A spokesperson for the Insurance Association of Malta said: “The use of boats in Maltese waters and beyond has increased exponentially over the years, and yacht and pleasure craft owners face a wide range of risks both for themselves and others.

“The data show that 96 per cent of claims were related to incidents within Maltese waters, highlighting that marine insurance is not just a legal requirement but also offers protection for the boat owner, passengers and other seafarers when things go wrong.”

While fire and sinking incidents are less common, high repair and replacement costs means claims tend to be for disproportionately high amounts. 

“It’s an unfortunate fact that, even in paradise, the unexpected happens, and cover provides seafarers with the financial and logistical support to recover quickly and responsibly.”

The IAM said marine insurance has been improved and refined over the years.

“With increased investment in post-loss surveyors and a commitment to regulatory alignment, the industry is evolving to meet the needs of modern seafarers. This has led to faster claim processing, better risk assessment, and transparent practices,” the spokesperson said.

According to Maltese law, Third Party cover is mandatory for craft with engines exceeding 9.9hp in case of property damage or bodily injury sustained to third parties, and is also required for new registrations and registration renewals of boats.

The spokesperson said: “The message to boat owners is ‘make sure you’re covered’ by third party liability certificate.

“And the message to the authorities is let’s ensure that there is proper enforcement at sea and that deterrents are in place to guard against abusive practices like intoxication through drink and drugs. If we follow these basic guidelines, everyone can enjoy the summer.”