SUE AND LABOUR CLAUSE – PLI, CEAR

Risks : PLI, CEAR, MARINE CARGO

 In case of actual or imminent, with prior notice to and approval from the Insurers, loss or damage, it shall be lawful and necessary for the Insured, his or their factors, servants or assign to use, labor and travel for, in and about the defense, safeguard and recovery of the property insured hereunder, or any part thereof without prejudice to this insurance, nor shall the acts of the insured or the insurers in recovering, saving and preserving the insured property in case of loss or damage, be considered a waiver or abandonment, to the charge whereof, the Insurers will contribute according to the rate and quantity of the sum herein insured.

SEVERAL LIABILITY CLAUSE - MCARGO

The subscribing insurers’ obligations under policies to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing insurers are not responsible for the subscription of any co-subscribing insurer who for any reason does not satisfy all or part of its obligations.

REPLACEMENT CLAUSE SECOND-HAND MACHINERY

In the event of loss of or damage to any part or parts of the goods insured in consequence of a risk covered by the policy, the amount recoverable hereunder shall not exceed such proportion of the cost of replacement of the part lost or damaged as the insured value bears to the value of new machinery, plus additional charges for forwarding and re-fitting the new part or parts if incurred.

SANCTION LIMITATION AND EXCLUSION

No Insurer shall be deemed to provide cover and no insurer shall be liable to pay and any claim or provide any benefit hereunder to the extent that the provision of such covers, payment of such claim or provision of such benefit would explore the insurer to any sanction, prohibition or restriction under United Nation Resolutions or the trade or economic sanctions, laws, or regulations of the European Union, United Kingdom or united States of America

ROAD RISKS CLAUSE

It is hereby noted and agreed that the policy is extended to cover loss and/or damaged to the unit during the cargo or unit movement by its own power and/or self-driven with sub limit USD. ……

RETURNED SHIPMENTS CLAUSE

This Policy of insurance is extended to cover, at Policy terms and conditions, shipments of returned goods which have not been delivered to the final consignee and which have been continuously covered hereunder, provided such goods remain in their original approved overseas packing and the Assured warrants to report all such shipments as soon as practicable after they have knowledge of the refusal. Shipments returned to the Assured by the consignee shall be subject to the same terms, conditions and rate under which such shipments were insured under this policy while in transit to such consignees. Returned merchandise other than as defined above is insured subject to the Institute Cargo Clauses ( C ) CL 254 dated 1.1.82 at rates to be agreed by Underwriters.

REPLACEMENT CLAUSE - IAR

Risks : IAR

“In the event of loss or damage to ay parts or parts of an insured machine or equipment caused by a peril covered by a peril covered by the policy the sum recoverable shall not exceed the cost of replacement or repair of such part or parts plus charges for forwarding and refitting, if incurred, but not excluding duty unless the full duty is included in the amount insured, in which case loss if any, sustained by payment of additional duty shall also be recoverable. Provided always that in no case shall the liability of underwriters exceed the insured value of the complete machine or equipment.”

REASONABLE DESPATCH CLAUSE

If following damage to property insured, the Insured considers that resumption of its’ Business activity and/or the work of reinstating or replacing or repairing the Property Insured poses a threat to human life or safety and as a result the Insured delays commencement of all or part of the resumption and/or all or part of the work of reinstatement or replacement or repairing, then Insurers will deem such delay as beyond the control of the Insured and that the Insured Is acting with reasonable dispatch and due diligence.

PROCESS CLAUSE - MCARGO

Whenever this insurance is extended to cover whilst the cargo kept in the worage, this insurance remains in full force whilst the subject matterinsured is under any process but in no case shall extend to cover damage thereto solely caused by such process or resulting therefrom

Packing and Container Clause

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.

PACKING CLAUSE

Sample – 1 Standard Packing Clause In case of loss of or damage to the goods hereby insured, the Underwriters shall not decline any claim by reason of insufficient PACKING of the goods, so long as such PACKING shall be admitted as appropriate for transportation by the Insured and/or all subsidiaries (including overseas subsidiaries) and/or associated companies and/or agents of the aforementioned Sample – 2 Packing and Container Clause 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 $25,000 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.

INSTITUTE THEFT, PILFERAGE AND NON-DELIVERY CLAUSE

INSTITUTE THEFT, PILFERAGE AND NON-DELIVERY CLAUSE (For use only with Institute Clauses) In consideration of an additional premium, it is hereby agreed that this insurance covers loss of or damage to the subject-matter insured caused by theft or pilferage, or by non-delivery of an entire package, subject always to the exclusions contained in this insurance. 1/12/82 CL272 © Copyright The Institute of London Underwriters

INSTITUTE REPLACEMENT CLAUSE

In the event of loss of or damage to any part or parts of an insured machine caused by a peril covered by the Policy the sum recoverable shall not exceed the cost of replacement of repair of such part or parts plus charges for forwarding and refitting, if incurred, but excluding duty unless the full duty is included in the amount insured, in which case loss, if any, sustained by payment of additional duty shall also be recoverable. Provided always that in no case shall the liability of Underwriters exceed the insured value of the complete machine. CL

INCLUDING Hijacking, Robbery and Piracy Risks

It is hereby noted and agreed that the policy is extended to cover loss and/or damaged to cargo due to Hijacking, Robbery and Piracy Risks

BOTH TO BLAME - Marine cargo

In the event the bill of lading and/or charterer party for merchandise insured hereunder contain the so called “both to blame collsion clause” or similar clause, the Insurer agree as to all losses covered by this insurance to indemnify the Assured for the amount which the they are legally bound to pay the except for common ownership, management, agency or other interest.

AIR CRAFT CLAUSE

Marine cargo Wherever the words “ship”, “vessel”, “seaworthiness”, “Shipowner”, or “vessel owner” appear in this policy, they are deemed to include also the words “aircraft”, “airworthiness” and “aircraft owner”

WILLFULL MISCONDUCT CLAUSE

Notwithstanding anything to the contrary contained elsewhere herein or in the law and practice to which this Policy is subject, this insurance shall not exclude loss damage or express attributable to willful misconduct of any person or persons committed without the privy of the directors and/or officers or whoever is considered the alter ego of the Insured.

VESSEL CLAUSE

Shipments per steamer and/or motor vessels are subject to the Institute Classification Clause C1, 354 dated 1.1.01 or as amended.

Any shipments that would be covered hereunder but for the provisions of the Institute Classification Clause are held covered at an additional premium to be agreed, and the terms of Institute Classification Clause shall not prejudice any claim hereunder, when presentation of the advice of such claim to Underwriters is the first indication that a transshipment, beyond the control of the assured, has been made by a vessel which is not covered within the terms of such Institute Classification Clause, provided the appropriatc additional premium is paid as soon as practicable thereafter Additional premium in respect of the Institute Classification Clause to be as per London Schedule with column 1 (b) rates to prevail irrespective of tonnage or otherwise.

SORTING CHARGES CLAUSE

In the cases where Underwriter Surveyor has recommended that packages be shorted to ascertain and assess the damage, the whole of the expenses of shorting shall be applied to the damage an a shall be charged to the Underwriters and/or Insured in proportion to the number of damage packages which fall upon them respectively.

SHIPPING EXPENSES CLAUSE

When the subject matter insured is not delivered to the destination contemplated due to circumstances beyond the control of the Assured this insurance also to pay any charges incidental to shipping which have been or maybe incurred by the Assured Such shipping expenses are limited to 15% of insured value.