HB1033 - Mandatory Vessel Insurance Coverage

• Requires owners of vessels 26 feet or longer that are registered with the State or operated in state ocean waters with a valid U.S. Coast Guard documentation number to obtain vessel insurance coverage of at least $100,000 per occurrence.

• Requires owners of grounded vessels less than 26 feet in length to obtain the same $100,000 minimum insurance coverage.

• Insurance coverage must include removal and salvage of grounded vessels, with vessel owners able to provide alternative forms of proof of insurance approved by the department.

• Permits the board of land and natural resources to grant exemptions from insurance requirements for transient vessels (visiting for less than 90 days) not moored in state facilities if extraordinary circumstances exist.

• Directs the Department of Land and Natural Resources to adopt rules to implement the insurance requirements and becomes effective December 31, 2019.