chapter  5
24 Pages

The Insurance of Average Disbursements

Sub-clause 1.1 is purely declaratory. Sub-clause 1.2 appears to be generous to the mortgagee assured, in that it extends

the list of the shipowner’s wrongdoings which could provide his underwriters with a defence on his (the shipowner’s) policy; to that extent therefore broadening the circumstances under which the mortgagees’ underwriters will provide cover.