Whilst the usual method of declaration is to declare ships, and the amount of time on charter, as and when they are delivered, it is possible to consider rating schemes which involve declaration of overall tonnage or even cargo lifted.
Declaration schedules can be agreed to suit and may be monthly, quarterly or annually. We can agree arrangements as part of providing a Tailor-Made and flexible product to accurately meet requirements of charterers or traders. In certain circumstances it is possible to agree a lump sum premium.
Liability cover for charterers or traders is charged on a fixed premium basis and our charterers and traders are not liable for additional supplementary calls or release calls.
Premium requirements are assessed on a case by case basis by our underwriters who consider a multitude of factors; principally these include ship type, trade, cargoes carried, trading pattern, charterparties used and contractual agreements as well as compliance with conditions of entry and our underwriting criteria.