<ol>
	<li><strong>RISK COVERED<br />
	Risks Clause</strong><br />
	This insurance covers, except as provided in clauses 2, 3, 4 and 5
	<ol>
		<li>total loss of or total damage to the entire or whole subject-matter insured reasonably attributable to
		<ol>
			<li>fire or explosion</li>
			<li>vessel or craft being stranded grounded sunk or capsized</li>
			<li>collision or contact of vessel craft or conveyance with any external object other than water</li>
		</ol>
		</li>
		<li>total loss of or total damage to the entire or whole subject matter insured caused by
		<ol>
			<li>jettison or washing overboard</li>
			<li>lost overboard or dropped whilst loading onto, or unloading from, the carrying vessel or craft</li>
		</ol>
		</li>
	</ol>
	</li>
	<li><strong>EXCLUSIONS<br />
	General Exclusion Clause</strong><br />
	In no case shall this insurance cover
	<ol>
		<li>loss or damage or expense attributable to willful misconduct of the Assured</li>
		<li>ordinary leakage, ordinary loss in weight or volume or ordinary wear and tear of the subject matter insured</li>
		<li>loss or damage or expensed caused by insufficiency or unsuitability of packing or preparation of the subject matter insured (for the purpose of this Clause 2.3 &quot;packing&quot; shall be deemed to include stowage in a container or lift van but only when such stowage is carried out prior to attachment of this insurance or by the Assured or their servants).</li>
		<li>loss damage or expense caused by inherent vice or nature of the subject matter insured</li>
		<li>loss damage or expense proximately caused by delay, even though the delay be caused by a risk insured against</li>
		<li>loss damage or expense arising from insolvency or financial default of the owners managers charterers or operators of the vessel</li>
		<li>deliberate damage to or deliberate, destruction of the subject-matter insured or any part thereof by the wrongful act of any person or persons</li>
		<li>loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force of matter.</li>
	</ol>
	</li>
	<li><strong>Unseaworthiness and Unfitness Clause</strong>
	<ol>
		<li>In no case shall this insurance cover loss damage or expense arising from unseaworthiness of vessel or craft unfitness of vessel craft conveyance container or lift van for the safe carriage of the subject insured<br />
		where the Assured or their servants are privy to such unseaworthiness or unfitness, at the tune the subject matter is loaded therein.</li>
		<li>There underwriter waive any breach of the implied warranties of seaworthiness of the ship and fitness of the ship to carry the subject-matter insured to destination, unless the Assured of their servants are privy to such unseaworthiness or unfitness.</li>
	</ol>
	</li>
	<li><strong>War Exclusion Clause</strong><br />
	In no case shall this insurance cover loss damage or expense caused by
	<ol>
		<li>war, civil war, revolution, rebellion, insurrection or civil strike arising there from, or any hostile act by or against a belligerent power</li>
		<li>capture seizure arrest restraint or detainment, and the consequence thereof or any attempt thereat</li>
		<li>derelict mines torpedoes bombs or other derelict weapons of war</li>
	</ol>
	</li>
	<li><strong>Strikes Exclusion Clause</strong><br />
	In no case shall this insurance cover loss damage or expense
	<ol>
		<li>caused by strikes, lock-outs workmen, or persons taking part in labor disturbance, riots or civil commotion</li>
		<li>resulting from strikes, lock-outs, labor disturbances, riots or civil commotions</li>
		<li>caused by any terrorist or any person acting from a political motive</li>
	</ol>
	</li>
	<li><strong>Transit Claus</strong><strong>e</strong>
	<ol>
		<li>This insurance attaches from the time the goods are loaded on board the carrying vessel or craft at the port of origin named herein for the commencement of the transit, continues during the ordinary course of transit and terminates either
		<ol>
			<li>upon discharge of the goods from teh carrying vessel or craft at the port of destination named herein or</li>
			<li>after 48 hours from the time of the arrival of the carrying vessel or craft at the final port of discharge which ever shall first occur.</li>
		</ol>
		</li>
	</ol>
	</li>
	<li><strong>Termination of Contracts of Carriage Clause</strong><br />
	If owing to circumstances beyond the control of the Assured either the contract of carriage is terminated at a port other than the destination named therein as provided for in the Clause 6 above, then his insurance shall also terminate unless prompt notice is given to the underwriters and continuation of cover is requested when Insurance shall remain in force, subject to an additional premium if required by the underwriters, either
	<ol>
		<li>until the goods are sold at such port within 48 hours after arrival of the carrying vessel or craft at such port whichever shall first occur, or</li>
		<li>if the goods are forwarded within the said period of 48 hours to the final port of destination named herein until terminated in accordance with the provisions of Clause 6 above.</li>
	</ol>
	</li>
	<li><strong>Change of Voyage Clause</strong><br />
	Where, after attachment of this Insurance, the destination is changed by the Assured, held covered at a premium and on conditions to be arranged subject to prompt notice being given to the Underwriters.</li>
	<li><strong>CLAIMS</strong><br />
	<strong>Insurable Interest</strong>
	<ol>
		<li><strong>​</strong>In order to recover under the insurance the Assured must have an insurable interest in the subject-matter insured at the same time of the loss.</li>
		<li>Subject to 9.1 above, the Assured shall be entitled to reecover for insured loss occurring during period covered by the Insurance, notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Underwriters were not.</li>
	</ol>
	</li>
	<li><strong>Constructive Total Loss</strong><br />
	No claim for Constructive Total Loss shall be recovereable hereunder, unless the subject-matter insured is reasonably abandoned either on account of its actual total loss appearing to be unavoidable or cost of recovering, reconditioning and forwarding the subject-matter to the destination to which it is insured would exceed its value on arrival.</li>
	<li><strong>BENEFIT OF INSURANCE<br />
	Not to Inure Clause</strong><br />
	This insurance shall not inure to the benefit of the carrier or other bailees</li>
	<li><strong>MINIMISING LOSSES<br />
	Duty of Assured Clause</strong><br />
	It is the duty of the Assured and their servants and agent in respect of loss recoverable hereunder
	<ol>
		<li>to take such measure as may be reasonable for the purpose of averting or minimizing such loss, and</li>
		<li>to ensure that all rights against carriers, bailees or other bird parties are properly preseved and exercised and the underwriters will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly and reasonably incurred in pursuance of these duties.</li>
	</ol>
	</li>
	<li><strong>Waiver Clause</strong><br />
	Measures taken by the Assured or the Underwriters with the object of saving, protecting or recovering the subject-matter insured shall not be considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.</li>
	<li><strong>AVOIDANCE OF DELAY</strong><br />
	<strong>Reasonable Despatch Clause</strong><br />
	It is a condition of this Insurance that the Assured shall act with reasonable dispatch in all circumstances within their control</li>
</ol>

<p><em>NOTE: It is necessary for the Assured when they become aware of an event which is &quot;held covered&quot; under this insurance to give prompt notice to the Underwriters and the right to such cover is dependent upon compliance with this obligation.</em></p>
