ABSTRACT
The SG policy, in the form set out in Schedule 1 to the 1906 Act, covered the perils of “takings at sea, arrests, restraints, and detainments of all kings, princes, and people”. The peril of “takings at sea” does not appear in the modern clauses, but arrests, restraints and detainments survive. When underwriters did not wish to insure war risks, the practice grew up of including an exclusion in the form of a so-called warranty “free of capture and seizure”, known as the “f.c. & s.” warranty. Where on the other hand the policy was in respect of war risks alone, the practice was to cover the risks which would be excluded by the f.c. & s. warranty. “Capture” and “seizure” both involve depriving the insured of his property, but they are nonetheless distinct and separate insured perils.
