Cargo Insurance Contract

Conditions 2003 Finland

(for corporate customers)

Adopted by the Finnish Marine Underwriters’ Association. The parties to a cargo insurance

contract may deviate from these terms and conditions by mutual agreement.

In case of dispute under these conditions, the original Finnish wording shall prevail.

Contents

1

2

Key concepts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Information disclosed before conclusion of

insurance contract . . . . . . . . . . . . . . . . . . . . . . . . . 3

2.1 Insurer’s duty of disclosure . . . . . . . . . . . . . 3

7.2

7.3

Policyholder’s and Insured’s duty to

disclose increase in risk . . . . . . . . . . . . . . . . 7

Policyholder’s duty to disclose transits

covered by the contract . . . . . . . . . . . . . . . 7

2.2

Policyholder’s duty of disclosure . . . . . . 4

8

Duty to prevent loss and action to be taken

on occurrence. . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

3

4

Insurable value and sum insured . . . . . . . . . . . . . 4

3.1 Insurable value . . . . . . . . . . . . . . . . . . . . . . . 4

3.2 Sum insured . . . . . . . . . . . . . . . . . . . . . . . . . . 4

3.3 Overinsurance and underinsurance . . . . . . 4

Attachment of insurer’s liability and validity