|
RISKS COVERED |
|
1. - Risks Clause |
1
This insurance covers, except as provided in Clauses 3
and 4 below, loss of or damage to the subject-matter
insured caused by
1.1
strikers, locked-out workmen, or persons taking part in
labour disturbances, riots or civil commotions
1.2
any terrorist or any person acting from a political
motive. |
|
2. - General Average Clause |
2
This insurance covers general average and salvage
charges, adjusted or determined according to the
contract of affreightment and/or the governing law and
practice, incurred to avoid or in connection with the
avoidance of loss from a risk covered under these
clauses. |
|
|
|
EXCLUSIONS |
|
3. - General Exclusions Clause |
3
In no case shall this insurance cover
3.1
loss damage or expense attributable to wilful misconduct
of the Assured
3.2
ordinary leakage, ordinary loss in weight or volume, or
ordinary wear and tear of the subject-matter insured
3.3
loss damage or expense caused by insufficiency or
unsuitability of packing or preparation of the
subject-matter insured (for the purpose of this Clause
3.3 "packing" shall be deemed to include stowage in a
container or liftvan but only when such stowage is
carried out prior to attachment of this insurance or by
the Assured or their servants)
3.4
loss damage or expense caused by inherent vice or nature
of the subject-matter insured
3.5
loss damage or expense proximately caused by delay, even
though the delay be caused by a risk insured against
(except expenses payable under Clause 2 above)
3.6
loss damage or expense arising
from insolvency or financial default of the owners
managers charterers or operators of the vessel
3.7
loss damage or expense arising from the absence shortage
or withholding of labour of any description whatsoever
resulting from any strike, lockout, labour disturbance,
riot or civil commotion
3.8
any claim based upon loss of or frustration of the
voyage or adventure
3.9
loss damage or expense arising from the use of any
weapon of war employing atomic or nuclear fission and/or
fusion or other like reaction or radioactive force or
matter
3.10
loss damage or expense caused by war civil war
revolution rebellion insurrection, or civil strife
arising therefrom, or any hostile act by or against a
belligerent power. |
|
4. - Unseaworthiness and Unfitness Exclusion Clause |
4.1
In no case shall this insurance cover loss damage or
expense arising from unseaworthiness of vessel or craft,
unfitness of vessel craft conveyance container or
liftvan for the safe carriage of the subject-matter
insured, where the Assured or their servants are privy
to such unseaworthiness or unfitness, at the time the
subject-matter insured is loaded therein.
4.2
The Underwriters waive any breach of the implied
warranties of seaworthiness of the ship and fitness of
the ship to carry the subject-matter insured to
destination, unless the Assured or their servants are
privy to such unseaworthiness or unfitness. |
|
|
|
DURATION |
|
5. - Transit Clause |
5.1
This insurance attaches from the time the goods leave
the warehouse or place of storage at the place named
herein for the commencement of the transit, continues
during the ordinary course of transit and terminates
either,
5.1.1
on delivery to the Consignees' or other final warehouse
or place of storage at the destination named herein,
5.1.2
on delivery, to any other warehouse or place of storage,
whether prior to or at the destination named herein,
which the Assured elect to use either
5.1.2.1
for storage other than in the ordinary course of transit
or
5.1.2.2
for allocation or distribution, or
5.1.3
on the expiry of 60 days after completion of discharge
overside of the goods hereby insured from the oversea
vessel at the final port of discharge whichever shall
first occur.
5.2
If, after discharge overside from
the oversea vessel at the final port of discharge, but
prior to termination of this insurance, the goods are to
be forwarded to a destination other than that to which
they are insured hereunder, this insurance, whilst
remaining subject to termination as provided for above,
shall not extend beyond the commencement of transit to
such other destination.
5.3
This insurance shall remain in force (subject to
termination as provided for above and to the provisions
of Clause 6 below) during delay beyond the control of
the Assured, any deviation, forced discharge, reshipment
or transhipment and during any variation of the
adventure arising from the exercise of a liberty granted
to shipowners or charterers under the contract of
affreightment. |
|
6. - Termination of Contract of Carriage Clause |
6
If owing to circumstances beyond the control of the
Assured either the contract of carriage is terminated at
a port or place other than the destination named therein
or the transit is otherwise terminated before delivery
of the goods as provided for in Clause 5 above, then
this insurance shall also terminate unless prompt notice
is given to the Underwriters and continuation of cover
is requested when the insurance shall remain in force,
subject to an additional premium if required by the
Underwriters, either
6.1
until the goods are sold and delivered at such port or
place, or, unless otherwise specially agreed, until the
expiry of 60 days after arrival of the goods hereby
insured at such port or place, whichever shall first,
occur, or
6.2
if the goods are forwarded within the said period of 60
days (or any agreed extension thereof) to the
destination named herein or to any other destination,
until terminated in accordance with the provisions of
Clause 5 above. |
|
7. - Change of Voyage Clause |
7
Where, after attachment of this insurance, the
destination is changed by the Assured, held covered at a
premium and on conditions to be arranged subject to
prompt notice being given to the Underwriters. |
|
|
|
CLAIMS |
|
8. - Insurable Interest Clause |
8.1
In order to recover under this insurance the Assured
must have an insurable interest in the subject-matter
insured at the time of the loss.
8.2
Subject to 8.1 above, the Assured shall be entitled to
recover for insured loss occurring during the period
covered by this insurance, notwithstanding that the loss
occurred before the contract of insurance was concluded,
unless the Assured were aware of the loss and the
Underwriters were not. |
|
9. - Increased Value Clause |
9.1
If any Increased Value insurance is effected by the
Assured on the cargo insured herein the agreed value of
the cargo shall be deemed to be increased to the total
amount insured under this insurance and all Increased
Value insurances covering the loss, and liability under
this insurance shall be in such proportion as the sum
insured herein bears to such total amount insured. In
the event of claim the Assured shall provide the
Underwriters with evidence of the amounts insured under
all other insurances.
9.2
Where this insurance is on Increased Value the following
clause shall apply: The agreed value of the cargo shall
be deemed to be equal to the total amount insured under
the primary insurance and all Increased Value insurances
covering the loss and effected on the cargo by the
Assured, and liability under this insurance shall be in
such proportion as the sum insured herein bears to such
total amount insured. In the event of claim the Assured
shall provide the Underwriters with evidence of the
amounts insured under all other insurances. |
|
|
|
BENEFIT OF
INSURANCE |
|
10. - Not to Inure Clause |
10
This insurance shall not inure to the benefit of the
carrier or other bailee. |
|
|
|
MINIMISING
LOSSES |
|
11. - Duty of Assured Clause |
11
It is the duty of the Assured and their servants and
agents in respect of loss recoverable hereunder
11.1
to take such measures as may be
reasonable for the purpose of averting or minimising
such loss, and
11.2
to ensure that all rights against
carriers, bailees or other third parties are properly
preserved and exercised and the Underwriters will, in
addition to any loss recoverable hereunder, reimburse
the Assured for any charges properly and reasonably
incurred in pursuance of these duties. |
|
12. - Waiver Clause |
12
Measures taken by the Assured or the Underwriters with
the object of saving, protecting or recovering the
subject-matter insured shall not be considered as a
waiver or acceptance of abandonment or otherwise
prejudice the rights of either party. |
|
|
|
AVOIDANCE OF DELAY |
|
13. - Reasonable Despatch Clause |
13
It is a condition of this insurance that the Assured
shall act with reasonable despatch in all circumstances
within their control. |
|
NOTE:-
It is necessary for the Assured when they become aware
of an event which is "held covered" under this insurance
to give prompt notice to the Underwriters and the right
to such cover is dependent upon compliance with this
obligation. |
