There are fears aqua tourists will head abroad rather than pay increasing prices if insurance hikes in the marine industry aren’t brought under control.
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Marinas lining Australia's north are considered at risk of natural disasters such as cyclones and are being hit with insurance hikes to house recreational boats and charter businesses. Marina general manager Scott Marshall said he had no choice but to raise berth rents to cover insurance costs and hoped it would not lead to an exodus of boat owners.
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