The Insurer will pay for loss of or damage to packing (including packaging materials, shipping containers, crates, pallets, or the like) while carried during an Insured transit caused by an insured event.
Subject to a limit of $............ for any one loss or series of losses arising from the one insured event provided these cost are not recoverable under other policy of insurance.
Where the subject-matter insured hereunder (or any apportionable part) becomes missing and after the lapse of a reasonable time has not been located, an actual total loss of the subject-matter insured (or any apportionable party) may be presumed. For the purposes of this insurance, there shall be deemed to have been the lapse of a reasonable time where delivery to the consignees’ or other final warehouse or place of storage at the destination named herein has not been effected within 90 days of the expected date of such delivery. If, after the payment by the Insurer(s) of an actual total loss as provided for above, this subject-matter insured or whatever may remain thereof is located, the ownership and all proprietary rights incidental thereto shall be vested is the Insurer(s) the subject-matter insured of whatever may remain thereof.
Comments
Post a Comment