Offshore Construction Project Policy(WELCAR 2001)
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WELCAR 2001

OFFSHORE CONSTRUCTION PROJECT POLICY

INDEX

PAGE NO.

INDEX 1 - 3

SCOPE OF INSURANCE 4

1. ASSUREDS 4

2. SPECIAL CONDITIONS FOR OTHER ASSUREDS 5

3. LOSS PAYEE 5

4. POLICY PERIOD 5

GENERAL TERMS AND CONDITIONS 5

1. PREMIUMS 5

2. SUBROGATION 5

3. WAIVER OF SUBROGATION 5

4. PERCENTAGE INTEREST CLAUSE 6

5. ORDER OF PRECEDENCE 6

6. LAW AND JURISDICTION 6

7. CLAIMS CURRENCY CLAUSE 6

8. HELD COVERED CLAUSE 6

9. DIVESTMENT CLAUSE 6

10. DUE DILIGENCE 7

11. PERMISSION TO OCCUPY AND OPERATE 7

12. AGREEMENT WITH CARRIERS, ETC. 7

13. INSOLVENCY 7

14. INSPECTION AND AUDIT 7

15. CANCELLATION 7

16. CONFLICTING STATUTES 8

17. ASSIGNMENT OR MODIFICATION OF POLICY 8


PAGE NO.

18. ACCEPTANCE 8

19. FORFEITURE 8

20. DISCOVERY CLAUSE 9

SECTION I - PHYSICAL DAMAGE 10

1. COVERED PERILS 10

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WELCAR 2001

OFFSHORE CONSTRUCTION PROJECT POLICY

INDEX

PAGE NO.

INDEX 1 - 3

SCOPE OF INSURANCE 4

1. ASSUREDS 4

2. SPECIAL CONDITIONS FOR OTHER ASSUREDS 5

3. LOSS PAYEE 5

4. POLICY PERIOD 5

GENERAL TERMS AND CONDITIONS 5

1. PREMIUMS 5

2. SUBROGATION 5

3. WAIVER OF SUBROGATION 5

4. PERCENTAGE INTEREST CLAUSE 6

5. ORDER OF PRECEDENCE 6

6. LAW AND JURISDICTION 6

7. CLAIMS CURRENCY CLAUSE 6

8. HELD COVERED CLAUSE 6

9. DIVESTMENT CLAUSE 6

10. DUE DILIGENCE 7

11. PERMISSION TO OCCUPY AND OPERATE 7

12. AGREEMENT WITH CARRIERS, ETC. 7

13. INSOLVENCY 7

14. INSPECTION AND AUDIT 7

15. CANCELLATION 7

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WELCAR 2001

OFFSHORE CONSTRUCTION PROJECT POLICY

INDEX

PAGE NO.

INDEX 1 - 3

SCOPE OF INSURANCE 4

1. ASSUREDS 4

2. SPECIAL CONDITIONS FOR OTHER ASSUREDS 5

3. LOSS PAYEE 5

4. POLICY PERIOD 5

GENERAL TERMS AND CONDITIONS 5

1. PREMIUMS 5

2. SUBROGATION 5

3. WAIVER OF SUBROGATION 5

4. PERCENTAGE INTEREST CLAUSE 6

5. ORDER OF PRECEDENCE 6

6. LAW AND JURISDICTION 6

7. CLAIMS CURRENCY CLAUSE 6

8. HELD COVERED CLAUSE 6

9. DIVESTMENT CLAUSE 6

10. DUE DILIGENCE 7

11. PERMISSION TO OCCUPY AND OPERATE 7

12. AGREEMENT WITH CARRIERS, ETC. 7

13. INSOLVENCY 7

14. INSPECTION AND AUDIT 7

15. CANCELLATION 7

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