chapter  3
10 Pages

Institute Cargo Clauses (B) and (C)—the restricted perils forms

These are the revised versions of the forms for restricted conditions first issued at the same time as Institute Cargo Clauses (A) on1/1/82. They may be said to have replaced the previous WA and FPA Clauses, but with certain important differences. The WA and FPA Clauses insured against the traditional risks enumerated in Lloyd’s SG form (with some extensions set out in the Average Clause and FPA Clause, respectively), but the quantum of recovery varied.54 Under the (B) and (C) Clauses the restrictions apply to the list of the perils insured against, but in the event of loss or damage by one of the named perils the underwriters will pay any claim, however small it may be.