INSTITUTESTRIKESCLAUSES(CARGO)

RISKSCOVERED

1Thisinsurancecovers,exceptasprovidedinClauses3and4below,lossofordamagetothesubject-matterinsuredcausedby

1.1strikers,locked-outworkmen,orpersonstakingpartinlabourdisturbances,riotsorcivilcommotions

1.2anyterroristoranypersonactingfromapoliticalmotive,

2Thisinsurancecoversgeneralaverageandsalvagecharges,adjustedordeterminedaccordingtothecontractofaffreightmentand/orthegoverninglawandpractice,incurredtoavoidorinconnectionwiththeavoidanceoflossfromariskcoveredundertheseclauses.

EXCLUSIONS

3Innocaseshallthisinsurancecover

3.1lossdamageorexpenseattributabletowilfulmisconductoftheAssured

3.2ordinaryleakage,ordinarylossinweightorvolume,orordinarywearandtearofthesubject-matterinsured

3.3lossdamageorexpensecausedbyinsufficiencyorunsuitabilityofpackingorpreparationofthesubject-matterinsured(forthepurposeofthisClause3.3“packing”shallbedeemedtoincludestowageinacontainerorliftvanbutonlywhensuchstowageiscarriedoutpriortoattachmentofthisinsuranceorbytheAssuredortheirservants)

3.4lossdamageorexpensecausedbyinherentviceornatureofthesubject-matterinsured

3.5lossdamageorexpenseproximatelycausedbydelay,eventhoughthedelaybecausedbyariskinsuredagainst(exceptexpensespayableunderClause2above)

3.6lossdamageorexpensearisingforminsolvencyorfinancialdefaultoftheownersmanagerscharterersoroperatorsofthevessel

3.7lossdamageorexpensearisingformtheabsenceshortageorwithholdingoflabourofanydescriptionwhatsoeverresultingformanystrike,lockout,labourdisturbance,riotandcivilcommotion

3.8anyclaimbaseduponlossoforfrustrationofthevoyageoradventure

3.9lossdamageorexpensearisingformtheuseofanyweaponofwaremployingatomicornuclearfissionand/orfusionorotherlikereactionorradioactiveforceormatter

3.10lossdamageorexpensecausedbywarcivilwarrevolutionrebellioninsurrection,orcivilstrifearisingtherefrom,oranyhostileactbyoragainstabelligerentpower.

4.4.1Innocaseshallthisinsurancecoverlossdamageorexpensearisingfromunseaworthinessofvesselorcraft,unfitnessofvesselcraftconveyancecontainerorliftvanforthesafecarriageofthesubject-matterinsured,wheretheAssuredortheirservantsareprivytosuchunseaworthinessorunfitness,atthetimethesubject-matterinsuredisloadedtherein.

4.2TheUnderwriterswaiveranybreachoftheimpliedwarrantiesofseaworthinessoftheshipandfitnessoftheshiptocarrythesubject-matterinsuredtodestination,unlesstheAssuredortheirservantsareprivytosuchunseaworthinessorunfitness.

DURATION

5.5.1Thisinsuranceattachesfromthetimethegoodsleavethewarehouseorplaceofstorageattheplacenamedhereinforthecommencementofthetransit,continuesduringtheordinarycourseoftransitandterminateseither

1.1.1ondeliverytotheConsignees’orotherfinalwarehouseorplaceofstorageatthedestinationnamedherein,

1.1.2ondeliverytoanyotherwarehouseorplaceofstorage,whetherpriortooratthedestinationnamedherein,whichtheAssuredelecttouseeither

1.1.2.1forstorageotherthanintheordinarycourseoftransitor

1.1.2.2forallocationordistribution,or

1.1.3ontheexpiryof60daysaftercompletionofdischargeoversideofthegoodsherebyinsuredfromtheoverseavesselatthefinalportofdischarge,whichevershallfirstoccur.

1.2If,afterdischargeoversidefromtheoverseavesselatthefinalportofdischarge,butpriortoterminationofthisinsurance,thegoodsaretobeforwardedtoadestinationotherthanthattowhichtheyareinsuredhereunder,thisinsurance,whilstremainingsubjecttoterminationasprovidedforabove,shallnotextendbeyondthecommencementoftransittosuchotherdestination.

1.3Thisinsuranceshallremaininforce(subjecttoterminationasprovidedforaboveandtotheprovisionsofClause6below)duringdelaybeyondthecontroloftheAssured,anydeviation,forceddischarge,reshipmentortranshipmentandduringanyvariationoftheadventurearisingfromtheexerciseofalibertygrantedtoshipownersorcharterersunderthecontractofaffreightment.

2IfowingtocircumstancesbeyondthecontroloftheAssuredeitherthecontractofcarriageisterminatedataportorplaceotherthanthedestinationnamedthereinorthetransitisotherwiseterminatedbeforedeliveryofthegoodsasprovidedforinClause5above,thenthisinsuranceshallalsoterminateunlesspromptnoticeisgiventotheUnderwritersandcontinuationofcoverisrequestedwhentheinsuranceshallremaininforcesubjecttoanadditionalpremiumifrequiredbytheUnderwriters,either

2.1untilthegoodsaresoldanddeliveredatsuchportorplace,or,unlessotherwisespeciallyagreed,untiltheexpiryof60daysafterarrivalofthegoodsherebyinsuredatsuchportorplace,whichevershallfirstoccur,or

2.2ifthegoodsareforwardedwithinthesaidperiodof60days(oranyagreedextensionthereof)tothedestinationnamedhereinortoanyotherdestination,untilterminatedinaccordancewiththeprovisionsofClause5above.

3Where,afterattachmentofthisinsurance,thedestinationischangedbytheAssured,heldcoveredatapremiumandonconditionstobearrangedsubjecttopromptnoticebeinggiventotheUnderwriters.

CLAIMS

8.8.1InordertorecoverunderthisinsurancetheAssuredmusthaveaninsurableinterestinthesubject-matterinsuredatthetimeoftheloss.

8.2Subjectto8.1above,theAssuredshallbeentitledtorecoverforinsuredlossoccurringduringtheperiodcoveredbythisinsurance,notwithstandingthatthelossoccurredbeforethecontractofinsurancewasconcluded,unlesstheAssuredwereawareofthelossandtheUnderwriterswerenot.

9.9.1IfanyIncreasedValueinsuranceiseffectedbytheAssuredonthecargoinsuredhereintheagreedvalueofthecargoshallbedeemedtobeincreasedtothetotalamountinsuredunderthisinsuranceandallIncreasedValueinsurancescoveringtheloss,andliabilityunderthisinsuranceshallbeinsuchproportionasthesuminsuredhereinbearstosuchtotalamountinsured.

9.2WherethisinsuranceisonIncreasedValuethefollowingclauseshallapply:

TheagreedvalueofthecargoshallbedeemedtobeequaltothetotalamountinsuredundertheprimaryinsuranceandallIncreasedValueinsurancescoveringthelossandeffectedonthecargobytheAssured,andliabilityunderthisinsuranceshallbeinsuchproportionasthesuminsuredhereinbearstosuchtotalamountinsured.IntheeventofclaimtheAssuredshallprovidetheUnderwriterswithevidenceoftheamountsinsuredunderallotherinsurances.

BENEFITOFINSURANCE

10Thisinsuranceshallnotinuretothebenefitofthecarrierofotherbailee.

MINIMISINGLOSSES

11ItisthedutyoftheAssuredandtheirservantsandagentsinrespectoflossrecoverablehereunder

11.1totakesuchmeasuresasmaybereasonableforthepurposeofavertingorminimisingsuchloss,and

11.2toensurethatallrightsagainstcarriers,baileesorotherthirdpartiesareproperlypreservedandexercisedandtheUnderwriterswill,inadditiontoanylossrecoverablehereunder,reimbursetheAssuredforanychargesproperlyandreasonablyincurredinpursuanceoftheseduties.

12MeasurestakenbytheAssuredortheUnderwriterswiththeobjectofsaving,protectingorrecoveringthesubject-materinsuredshallnotbeconsideredasawaiveroracceptanceofabandonmentorotherwiseprejudicetherightsofeitherparty.

AVOIDANCEOFDELAY

13ItisaconditionofthisinsurancethattheAssuredshallactwithreasonabledespatchinallcircumstanceswithintheircontrol.

LAWANDPRACTICE

14ThisinsuranceissubjecttoEnglishlawandpractice.