To safeguard continuity to Shipowners who wish to be insured by us we have no option, but to follow strict underwriting guidelines, being:

1. We target cargo carrying vessels up to 10,000 GRT or a fleet of vessels with an average GRT of 10,000.

2. We target any other non-cargo carrying vessels, such as fishing vessels, tugs, barges, work boats, supply vessels and other special crafts operating at sea or in ports.

3. Vessels insured with RaetsMarine are not allowed to perform voyages to and from the USA

4. Vessels insured with RaetsMarine are not allowed to perform Trans Atlantic or Trans Pacific voyages. The reason for this is that we feel that the type of vessels we insure, are not really suitable to perform these types of voyages on a regular basis

5. There is no restriction to age.

6. We accept a wide range of Classification Societies which other P&I insurers might not accept. It is our experience that neither the age of a vessel, nor the Class of a vessel is a sound indication of the condition of the vessel. Alternatively we strictly impose our condition surveys, as explained above.

Items nr. 2 and 3 above are occasionally allowed when for example it concerns a positioning voyage or delivery voyage of a vessel. Adjusted terms and conditions will then apply.

LIMITS OF LIABILITY PROVIDED

The maximum amount insured we offer in RaetsMarine is US$ 500 million for Ship owners’ P. & I. Insurance and US$ 2 million for F.D.& D. Insurance. The majority of the vessels in our portfolio have a Limit of Liability of US$ 10 milllion, which is a more then comfortable limit for the type and size of vessels we target and keeping in mind the LLMC Protocols of 1976 and 1996.