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Profile of Facilities
Great Lakes Reinsurance (UK) PLC (A++ Rated)
Hull Limit US$ 500,000
Third Party Liability Limit US$ 1,000,000)
Commercial Passenger Liability Limit US$ 1,000,000) Combined Single Limit
Crew Liability Limit US$ 1,000,000)
Tender/Dinghy US$ 25,000
Trailer Limit US$ 25,000
Personal Property Limit US$ 10,000
Medical Payment US$ 10,000
Breach of Warranty US$ 500,000
Loss of Hire Maximum limit $500 per day. Maximum period 60 days.
Pollution/Clean Up US$ 50,000
Geographic Scope: Worldwide, suitable in some States for vessels requiring
Surplus Lines Approved Security.
Types of Vessel Written:
All types of private and pleasure vessels including sailing vessels,
catamarans, cruisers, sports cruisers, speed boats and performance boats
(up to 80 miles per hour). We will consider wooden built vessels and vessels
over 25 years of age, provided we have been given sight of a current survey
at the time of quoting.
We will provide limited racing risk coverage, but only for sailing vessels
and only local regattas (not International Bluewater Racing).
We will not accept Trimarans (unless part of a major fleet placement),
houseboats used as residences or over ten years of age, ferrocement yachts
or ‘home-built’/experimental craft or vessels designed for
racing. We will not consider insureds who have criminal records or have
been convicted of drunk driving (DWI/DUI), or if they have had their US
Coast Guard Licenses revoked for any reason.
We also write most types of commercial craft provided they are used for
recreational purposes including Fishing Charters, Sightseeing Vessels,
Excursion Vessels, Recreational Dive Boats, Swimming & Snorkelling
Boats, Bareboat Charter Vessels Rental boats, Sunset Cruises, Dinner Cruises,
Whale Watching and Parasail Boats. We will not write Jet-Ski Rentals or
Waverunner Rental Operations, Beachside Rental Operations, Water Taxis
(other than as part of an excursion), Passenger Ferries, Water Ski Rentals,
Exotic Rides (speed thrills, wild bananas, etc.).
On Bareboat Charter/Rental Boats, we will require sight of the Charter/Rental
Agreement, which must contain a Hold Harmless Agreement, signed by the
renter.
On Skipper Charters or vessels requiring Commercial Passenger Liability,
we will require the maximum certified number of passengers and the average
number per trip. We will also require the number of paid crew, if crew
liability is requested.
In all cases the loss record is vital information at the time the quote
is issued.
Our minimum premium is US$750.00 on private pleasure and US$ 1,000 on
Commercial. Please bear this in mind when submitting business to us. (If
another similarly rated company have quoted US$500, it is not worth your
time and expense sending the risk to us for a quote).
Where possible try to ensure that the application form is legible and
complete. Usually the more information, the better the terms.
Large Yacht Programme
75% Allianz Marine & Aviation (France)/25% UMS Generali (AAA Rated)
Web Site: www.allianz-marine-aviation.fr
Limit Hull US$ 2,000,000
Tender US$ 25,000
Personal Effects US$ 25,000
Medical Expenses US$ 25,000
Liability (As per Liability Cover above placed with
Lloyds)
Geographic Scope:
Worldwide, Allianz are Surplus Lines Approved in most States in the USA.
This cover is designed to write vessels valued over US$500,000 up to
US$2,000,000. Whilst principally designed to write Private and Pleasure
vessels, we can also write occasional Charter and full time Charter Operations.
Most types of vessels and navigation will be considered, but we will not
write ferrocement boats, non standard design boats, racing boats or vessels
capable of more than 45 knots. Vessels over 25 years of age must be submitted
with a current survey and the application form must be complete and legible.
Warta Insurance & Reinsurance Company (BBB+ Rated)
Web Site: www.warta.pl
Offering Hull coverage only in support of our other in-house facilities.
This underwriter will take up to a 50% share of the Hull Sum Insured (maximum
$500,000) permitting us cover vessels valued up to US$3,000,000
Geographic Scope: Worldwide (excluding war zones) including Caribbean.
Types of Vessel Written:
This is a following market & can only cover vessels already accepted
under our other facilities.
Increased Value & Disbursements Cover 100% Lloyds Underwriters.
Limit 20% of Overall Value
This contract is in place to support our in-house programs and write
business alongside it. The policy wording has been amended to conform
with the standard T L Dallas wordings for continuity of coverage. Increased
value only responds in the event of Actual Total Loss, Constructive Total
Loss or Arranged/Compromised Total Loss. Because of the traditional claims
adjustment practices whereby, once the estimated repair costs exceed 80%
of the value, the vessel is declared a Constructive Total Loss, the Insured’s
coverage is not materially affected by placing 20% on an increased value
basis.
This facility enables us to write values up to US$3,500,000 on the same
criteria as the main cover (with the exception of performance boats).
Liability Cover 100% Lloyds Underwriters pr Osprey Underwriting Agency
Limit Third Party Liability US$ 1,000,000)
Commercial Passenger Liability US$ 1,000,000) Combined Single Limit
Crew Liability US$ 1,000,000)
This facility is designed to write the liability section in isolation,
provided the Hull coverage has been written by either ourselves or another
‘A’ rated insurer on standard terms including 4/4ths RDC (Collision
Coverage).
We can write the same coverage as we do on the ING Groep combined policy
(both private and pleasure and commercial) and the Underwriting has almost
identical criteria. This enables us to write the liability sections of
much larger vessels when necessary or to support a local placement. The
policy terms and conditions are virtually identical to Section B of the
T L Dallas wording, with the exception of the Arbitration and Choice of
Law sections on Page 12 of the PPO policy and Page 13 of the COM wording.
Summary
All the above facilities are exclusive to T L Dallas and operated as
in-house underwriting programs. In addition to these we also have access
to most of the leading insurers in London, which we can approach if the
risk does not fit our profiles. We are continually working to improve
our facilities and will keep you advised as new product lines become available.
In the meantime if you have any doubts as to whether we can quote a risk,
please feel free to send it to one of our underwriters.
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