ABSTRACT
RISKS COVERED 1 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 reasonably 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 1.1.6 earthquake volcanic eruption or lightning, 1.2 loss of or damage to the subject-matter insured caused by 1.2.1 general average sacrifice 1.2.2 jettison or washing overboard 1.2.3 entry of sea lake or river water into vessel craft hold conveyance
container liftvan or place of storage, 1.3 total loss of any package lost overboard or dropped whilst loading on
to, or unloading from, vessel or craft. 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.
