ABSTRACT

The cancellation clause acts, either upon the giving of notice or automatically depending on the trigger, to cancel the war risks cover otherwise provided upon the occurrence of certain circumstances. It should be noted that in the case of cargo stored afloat, only 48 hours’ notice, rather than seven days is required. This chapter draws attention to cases where either: (a) the insurance is terminated by the detonation of a nuclear weapon, and furthermore any physical loss of or damage to the insured object is excluded from the insurance cover; or (b) the insurance continues in being, and only the physical loss of or damage to the insured object is excluded from its cover. Containers are insured by the Institute War and Strikes Containers—Time 1.1.87. The insurance comes to an end upon any hostile detonation of a nuclear weapon wherever this may occur.