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Is Raffles construction fully protected by suitable insurances / guarantees?

Yes it is with the leading underwriters in the world in London, Paris, Singapore, Munich and Zurich.

Raffles insurances are in fact of higher standard than normal due to that it is subject to an extraordinary level of protection, thanks to underwriters having in 2005/6 paid out over USD 1 billion in claims on only 7 such high value vessels, ................ as a result they have introduced stringent measures to protect against this on all passenger ships / mega yachts, which FVH have been involved in developing and framing.

This now includes the underwriters approval of the shipyard facilities, the named individuals actually building the ship and the specific equipment / methods that are used, combined with a per ship risk analysis and suitable “derisking” measures then taken in agreement with underwriters, in turn verified by third party inspection!

As a result of the derisking measures AMS have introduced, Lloyd’s Register now believe that Raffles construction is probably the safest of any in the world. As Lloyd’s will have 2 surveyors onboard all through construction there is no question of any lessening of safety / construction standards in the future.

AMS / Raffles insurances include:

With the conditions for “triggering” all insurances written into the shipbuilding contract / specification which in turn is verified / approved by the trustees (lawyers) and with their approval of them a condition of the first contract payment being made to AMS.