The Individual Professional Insurance Consultants, Team of Insurance Agents.
INSOLVENCY CLAUSE
INSOLVENCY AMENDMENTS CLAUSE
Exclusions 4.6 of the Institute Cargo Clause (A), Institute Cargo Clauses (B), Institute Cargo Clauses (C) and Exclusions 3.6 of the Institute War Clauses (Cargo) and the Institute Strikes Clauses (Cargo) are amended to read;
“Loss or damage or expense caused by insolvency or financial default of the Owners, Managers, Charters or Operators of the vessel where, at the time of loading of the subject-matter insured on board the vessel, the Insured is aware, or in the ordinary course of business should be aware, that such insolvency or financial default could prevent the normal completion of the voyage”.
This exclusion shall not apply where this insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract".
This amendment applies to all goods shipped on Conference Line Vessels.
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Where the subject-matter insured hereunder (or any apportionable part) becomes missing and after the lapse of a reasonable time has not been...
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It is agreed that the Insured by this Section extends to include all sum which the Insured shall become legally liable to pay in connection ...
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On Increased Value of Cargo as described herein (whether such cargo is, insured herein or otherwise) by reason of liability for and/or payme...