(Excluding Frozen Meat)
1. RISKS COVERED
This insurance covers, except as provided in Clauses 4,
5, 6 and 7 below.
1.1 loss of or
damage to the subject-matter insured attributable to
1.1.1 fire or explosion
1.1.2 vessel or craft being stranded grounded sunk or capsized
1.1.3 overturning or derailment of land conveyance
1.1.4 collision or contact of vessel craft or conveyance with any
external object other than water
1.1.5 discharge of cargo at a port of distress,
1.2 loss
of or damage to the subject-matter insured caused by
1.2.1 general average sacrifice
1.2.2 jettison
2. This insurance covers
general average and salvage charges, adjusted or determined according to the
contract of affreightment and/or the governing law and practice, incurred to
avoid or in connection with the avoidance of loss from any cause except those
excluded in
Clauses 4, 5, 6 and 7 or elsewhere in this insurance.
3. This insurance is extended
to indemnify the Assured against such proportion of liability under the
contract of affreightment “Both to Blame Collision” clause as is in respect of
a loss recoverable hereunder. In
the event of any claim by shipowners under the said Clause the
Assured agree to notify the Underwriters who shall have the right, at
their own cost and expense, to defend the Assured against such claim.
4. EXCLUSIONS
In no case
shall this insurance cover
4.1 loss damage or expense
attributable to wilful misconduct of the Assured
4.2 ordinary leakage, ordinary
loss in weight or volume, or ordinary wear and tear of the subject-matter
insured
4.3 loss damage or expense caused
by insufficiency or unsuitability of packing or preparation of the
subject-matter insured (for the
purpose
of this Clause 4.3 “Packing” shall be deemed to include stowage in a container
or liftvan but only when such stowage is
carried out prior to attachment of
this insurance or by the Assured or their servants)
