chapter  2
28 Pages

Institute Cargo Clauses (A)—the “All Risks” form

About a hundred years ago, when iron and steel had largely displaced timber in the construction of the hulls of ships, and with other factors contributing to the safe carriage of goods by sea, underwriters were prepared to extend the area of cover which they granted to their assured. No doubt in the first instance such additions to the cover were made piecemeal, by adding such words as ‘‘including all risks of craft and/or lighterage to and from the ship’’, but for a merchant with a good claims record, who was prepared to pay a slightly higher rate of premium, the extra cover afforded by an ‘‘All Risks’’ insurance was-and still is-of great comfort.