1/1/09

INSTITUTE WAR CLAUSES (CARGO)

RISKS COVERED Risks 1. This insurance covers, except as excluded by the provisions of Clauses 3 and 4 below, loss of or damage to the subject-matter insured caused by 1.1 war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power 1.2 capture seizure arrest restraint or detainment, arising from risks covered under 1.1 above, and the consequences thereof or any attempt thereat 1.3 derelict mines torpedoes bombs or other derelict weapons of war. General Average 2. This insurance covers general average and salvage charges, adjusted or determined according to the contract of carriage and/or the governing law and practice, incurred to avoid or in connection with the avoidance of loss from a risk covered under these Clauses. EXCLUSIONS 3. In no case shall this insurance cover 3.1 loss damage or expense attributable to wilful misconduct of the Assured 3.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured 3.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured to withstand the ordinary incidents of the insured transit where such packing or preparation is carried out by the Assured or their employees or prior to the attachment of this insurance (for the purpose of these Clauses "packing" shall be deemed to include stowage in a container and "employees" shall not include independent contractors) 3.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured 3.5 loss damage or expense caused by delay, even though the delay be caused by a risk insured against (except expenses payable under Clause 2 above) 3.6 loss damage or expense caused by insolvency or financial default of the owners managers charterers or operators of the vessel where, at the time of loading of the subject-matter insured on board the vessel, the Assured are aware, or in the ordinary course of business should be aware, that such insolvency or financial default could prevent the normal prosecution of the voyage This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract 3.7 any claim based upon loss of or frustration of the voyage or adventure 3.8 loss damage or expense directly or indirectly caused by or arising from any hostile use of any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.

4.

4.1 In no case shall this insurance cover loss damage or expense arising from unseaworthiness of vessel or craft or unfitness of vessel or craft for the safe carriage of the subject-matter insured, where the Assured are privy to such unseaworthiness or unfitness, at the time the subject-matter insured is loaded therein 4.1.2 unfitness of container or conveyance for the safe carriage of the subject-matter insured, where loading therein or thereon is carried out prior to attachment of this insurance or by the Assured or their employees and they are privy to such unfitness at the time of loading. 4.2 Exclusion 4.1.1 above shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract. 4.3 The Insurers 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. 4.1.1

DURATION Transit Clause 5. 5.1 This insurance 5.1.1 attaches only as the subject-matter insured and as to any part as that part is loaded on an oversea vessel and 5.1.2 terminates, subject to 5.2 and 5.3 below, either as the subject-matter insured and as to any part as that part is discharged from an oversea vessel at the final port or place of discharge, or on expiry of 15 days counting from midnight of the day of arrival of the vessel at the final port or place of discharge, whichever shall first occur; nevertheless, subject to prompt notice to the Insurers and to an additional premium, such insurance 5.1.3 reattaches when, without having discharged the subject-matter insured at the final port or place of discharge, the vessel sails therefrom, and 5.1.4 terminates, subject to 5.2 and 5.3 below, either as the subject-matter insured and as to any part as that part is thereafter discharged from the vessel at the final (or substituted) port or place of discharge, or on expiry of 15 days counting from midnight of the day of re-arrival of the vessel at the final port or place of discharge or arrival of the vessel at a substituted port or place of discharge, whichever shall first occur. 5.2 If during the insured voyage the oversea vessel arrives at an intermediate port or place to discharge the subject-matter insured for on-carriage by oversea vessel or by aircraft, or the subject-matter insured is discharged from the vessel at a port or place of refuge, then, subject to 5.3 below and to an additional premium if required, this insurance continues until the expiry of 15 days counting from midnight of the day of arrival of the vessel at such port or place, but thereafter reattaches as the subject-matter insured and as to any part as that part is loaded

on an on-carrying oversea vessel or aircraft. During the period of 15 days the insurance remains in force after discharge only whilst the subject-matter insured and as to any part as that part is at such port or place. If the subject-matter insured is on-carried within the said period of 15 days or if the insurance reattaches as provided in this Clause 5.2 5.2.1 where the on-carriage is by oversea vessel this insurance continues subject to the terms of these Clauses, or 5.2.2 where the on-carriage is by aircraft, the current Institute War Clauses (Air Cargo) (excluding sendings by Post) shall be deemed to form part of the contract of insurance and shall apply to the on-carriage by air. 5.3 If the voyage in the contract of carriage is terminated at a port or place other than the destination agreed therein, such port or place shall be deemed the final port of discharge and this insurance terminates in accordance with 5.1.2. If the subject-matter insured is subsequently reshipped to the original or any other destination, then provided notice is given to the Insurers before the commencement of such further transit and subject to an additional premium, this insurance reattaches 5.3.1 in the case of the subject-matter insured having been discharged, as the subject-matter insured and as to any part as that part is loaded on the on-carrying vessel for the voyage; 5.3.2 in the case of the subject-matter not having been discharged, when the vessel sails from such deemed final port of discharge; thereafter this insurance terminates in accordance with 5.1.4. 5.4 The insurance against the risks of mines and derelict torpedoes, floating or submerged, is extended whilst the subject-matter insured or any part thereof is on craft whilst in transit to or from the oversea vessel, but in no case beyond the expiry of 60 days after discharge from the oversea vessel unless otherwise specially agreed by the Insurers. 5.5 Subject to prompt notice to Insurers, and to an additional premium if required, this insurance shall remain in force within the provisions of these Clauses during any deviation, or any variation of the adventure arising from the exercise of a liberty granted to carriers under the contract of carriage. (For the purpose of Clause 5 "arrival" shall be deemed to mean that the vessel is anchored, moored or otherwise secured at a berth or place within the Harbour Authority area. If such a berth or place is not available, arrival is deemed to have occurred when the vessel first anchors, moors or otherwise secures either at or off the intended port or place of discharge "oversea vessel" shall be deemed to mean a vessel carrying the subject-matter from one port or place to another where such voyage involves a sea passage by that vessel) Change of Voyage 6. 6.1 Where, after attachment of this insurance, the destination is changed by the Assured, this must be notified promptly to Insurers for rates and terms to be agreed. Should a loss occur prior to such agreement being obtained cover may be provided but

only if cover would have been available at a reasonable commercial market rate on reasonable market terms. 6.2 Where the subject-matter insured commences the transit contemplated by this insurance (in accordance with Clause 5.1), but, without the knowledge of the Assured or their employees the ship sails for another destination, this insurance will nevertheless be deemed to have attached at commencement of such transit. 7. Anything contained in this contract which is inconsistent with Clauses 3.7, 3.8 or 5 shall, to the extent of such inconsistency, be null and void. CLAIMS Insurable Interest 8. 8.1 In order to recover under this insurance the Assured must have an insurable interest in the subject- matter insured at the time of the loss. 8.2 Subject to Clause 8.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance, notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Insurers were not. Increased Value 9. 9.1 If any Increased Value insurance is effected by the Assured on the subject-matter insured under this insurance the agreed value of the subject-matter insured shall be deemed to be increased to the total amount insured under this insurance and all Increased Value insurances covering the loss, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances. 9.2 Where this insurance is on Increased Value the following clause shall apply: The agreed value of the subject-matter insured shall be deemed to be equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the subject-matter insured by the Assured, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances. BENEFIT OF INSURANCE 10. This insurance 10.1 covers the Assured which includes the person claiming indemnity either as the person by or on whose behalf the contract of insurance was effected or as an assignee, 10.2 shall not extend to or otherwise benefit the carrier or other bailee.

MINIMISING LOSSES Duty of Assured 11. It is the duty of the Assured and their employees and agents in respect of loss recoverable hereunder 11.1 to take such measures as may be reasonable for the purpose of averting or minimising such loss, and 11.2 to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised and the Insurers will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly and reasonably incurred in pursuance of these duties. Waiver 12.Measures taken by the Assured or the Insurers 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. AVOIDANCE OF DELAY 13.It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control. LAW AND PRACTICE14.This insurance is subject to English law and practice. NOTE:-Where a reattachment of cover is requested under Clause 5, or a change of destination is notified under Clause 6, there is an obligation to give prompt notice to the Insurers and the right to such cover is dependent upon compliance with this obligation. Copyright: 11/08 -Lloyd's Market Association (LMA) and International Underwriting Association of London (IUA).

Institute war cancellation clause (CARGO) The cover against war risks (as defined in the relevant Institute War Clauses) may be cancelled by either the Underwriters or the Assured except in respect of any insurance which shall have attached in accordance with the conditions of the Institute War Clauses before the cancellation becomes effective. Such cancellation shall however only become effective on the expiry of 7 days from midnight of the day on which notice of the cancellation is issued by or to the Underwriters.

1/1/09

INSTITUTE STRIKES CLAUSES (CARGO)

RISKS COVERED Risks 1. This insurance covers, except as excluded by the provisions of Clauses 3 and 4 below, loss of or damage to the subject-matter insured caused by 1.1 strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions 1.2 any act of terrorism being an act of any person acting on behalf of, or in connection with, any organisation which carries out activities directed towards the overthrowing or influencing, by force or violence, of any government whether or not legally constituted 1.3 any person acting from a political, ideological or religious motive. General Average 2. This insurance covers general average and salvage charges, adjusted or determined according to the contract of carriage and/or the governing law and practice, incurred to avoid or in connection with the avoidance of loss from a risk covered under these Clauses. EXCLUSIONS

3.

In no case shall this insurance cover 3.1 loss damage or expense attributable to wilful misconduct of the Assured 3.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured 3.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured to withstand the ordinary incidents of the insured transit where such packing or preparation is carried out by the Assured or their employees or prior to the attachment of this insurance (for the purpose of this Clause 3.3 "packing" shall be deemed to include stowage in a container and "employees" shall not include independent contractors) 3.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured 3.5 loss damage or expense caused by delay, even though the delay be caused by a risk insured against (except expenses payable under Clause 2 above) 3.6 loss damage or expense caused by insolvency or financial default of the owners managers charterers or operators of the vessel where, at the time of loading of the subject-matter insured on board the vessel, the Assured are aware, or in the ordinary course of business should be aware, that such insolvency or financial default could prevent the normal prosecution of the voyage This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract 3.7 loss damage or expense arising from the absence shortage or withholding of

labour of any description whatsoever resulting from any strike, lockout, labour disturbance, riot or civil commotion 3.8 any claim based upon loss of or frustration of the voyage or adventure 3.9 loss damage or expense directly or indirectly caused by or arising from the use of any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter 3.10 loss damage or expense caused by war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power. 4. 4.1In no case shall this insurance cover loss damage or expense arising from 4.1.1 unseaworthiness of vessel or craft or unfitness of vessel or craft for the safe carriage of the subject-matter insured, where the Assured are privy to such unseaworthiness or unfitness, at the time the subject-matter insured is loaded therein 4.1.2 unfitness of container or conveyance for the safe carriage of the subject-matter insured, where loading therein or thereon is carried out prior to attachment of this insurance or by the Assured or their employees and they are privy to such unfitness at the time of loading. 4.2 Exclusion 4.1.1 above shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract. 4.3 The Insurers 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. DURATION Transit Clause 5. 5.1 Subject to Clause 8 below, this insurance attaches from the time the subject-matter insured is first moved in the warehouse or at the place of storage (at the place named in the contract of insurance) for the purpose of the immediate loading into or onto the carrying vehicle or other conveyance for the commencement of transit, continues during the ordinary course of transit and terminates either 5.1.1 on completion of unloading from the carrying vehicle or other conveyance in or at the final warehouse or place of storage at the destination named in the contract of insurance, 5.1.2 on completion of unloading from the carrying vehicle or other conveyance in or at any other warehouse or place of storage, whether prior to or at the destination named in the contract of insurance, which the Assured or their employees elect to use either for storage other than in the ordinary course of transit or for allocation or distribution, or

5.1.3 when the Assured or their employees elect to use any carrying vehicle or other conveyance or any container for storage other than in the ordinary course of transit or 5.1.4 on the expiry of 60 days after completion of discharge overside of the subject-matter insured from the oversea vessel at the final port of discharge, whichever shall first occur. 5.2 If, after discharge overside from the oversea vessel at the final port of discharge, but prior to termination of this insurance, the subject-matter insured is to be forwarded to a destination other than that to which it is insured, this insurance, whilst remaining subject to termination as provided in Clauses 5.1.1 to 5.1.4, shall not extend beyond the time the subject-matter insured is first moved for the purpose of the commencement of transit to such other destination. 5.3 This insurance shall remain in force (subject to termination as provided for in Clauses 5.1.1 to 5.1.4 above and to the provisions of Clause 6 below) during delay beyond the control of the Assured, any deviation, forced discharge, reshipment or transhipment and during any variation of the adventure arising from the exercise of a liberty granted to carriers under the contract of carriage. Termination of Contract of Carriage 6. If owing to circumstances beyond the control of the Assured either the contract of carriage is terminated at a port or place other than the destination named therein or the transit is otherwise terminated before unloading of the subject-matter insured as provided for in Clause 5 above, then this insurance shall also terminate unless prompt notice is given to the Insurers and continuation of cover is requested when this insurance shall remain in force, subject to an additional premium if required by the Insurers, either 6.1 until the subject-matter insured is sold and delivered at such port or place, or, unless otherwise specially agreed, until the expiry of 60 days after arrival of the subject-matter insured at such port or place, whichever shall first occur, or 6.2 if the subject-matter insured is forwarded within the said period of 60 days (or any agreed extension thereof) to the destination named in the contract of insurance or to any other destination, until terminated in accordance with the provisions of Clause 5 above. Change of Voyage 7. 7.1 Where, after attachment of this insurance, the destination is changed by the Assured, this must be notified promptly to Insurers for rates and terms to be agreed. Should a loss occur prior to such agreement being obtained cover may be provided but only if cover would have been available at a reasonable commercial market rate on reasonable market terms. 7.2 Where the subject-matter insured commences the transit contemplated by this insurance (in accordance with Clause 5.1), but, without the knowledge of the Assured or their employees the ship sails for another destination, this insurance

will nevertheless be deemed to have attached at commencement of such transit. CLAIMS Insurable Interest 8. 8.1 In order to recover under this insurance the Assured must have an insurable interest in the subject- matter insured at the time of the loss. 8.2 Subject to Clause 8.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance, notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Insurers were not. Increased Value 9. 9.1 If any Increased Value insurance is effected by the Assured on the subject-matter insured under this insurance the agreed value of the subject-matter insured shall be deemed to be increased to the total amount insured under this insurance and all Increased Value insurances covering the loss, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances. 9.2 Where this insurance is on Increased Value the following clause shall apply: The agreed value of the subject-matter insured shall be deemed to be equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the subject-matter insured by the Assured, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances. BENEFIT OF INSURANCE 10. This insurance 10.1 covers the Assured which includes the person claiming indemnity either as the person by or on whose behalf the contract of insurance was effected or as an assignee, 10.2 shall not extend to or otherwise benefit the carrier or other bailee. MINIMISING LOSSES Duty of Assured 11.It is the duty of the Assured and their employees and agents in respect of loss recoverable hereunder 11.1 to take such measures as may be reasonable for the purpose of averting or minimising such loss,and 11.2 to ensure that all rights against carriers, bailees or other third parties are

properly preserved and exercised and the Insurers will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly and reasonably incurred in pursuance of these duties. Waiver

12.Measures taken by the Assured or the Insurers 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.
AVOIDANCE OF DELAY

13.It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control.
LAW AND PRACTICE 14.This insurance is subject to English law and practice. NOTE:-Where a continuation of cover is requested under Clause 6, or a change of destination is notified under Clause 7, there is an obligation to give prompt notice to the Insurers and the right to such cover is dependent upon compliance with this obligation. Copyright: 11/08 -Lloyd's Market Association (LMA) and International Underwriting Association of London (IUA).

INSTITUTE STRIKES CLAUSES (AIR CARGO)

RISKS COVERED Risks 1. This insurance covers, except as excluded by the provisions of Clause 3 below, loss of or damage to the subject-matter insured caused by 1.1 strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions 1.2 any act of terrorism being an act of any person acting on behalf of, or in connection with, any organisation which carries out activities directed towards the overthrowing or influencing, by force or violence, of any government whether or not legally constituted 1.3 any person acting from a political, ideological or religious motive. Salvage Charges

2. This insurance covers salvage charges incurred to avoid or in connection with the avoidance of loss from any cause except those excluded in Clause 3 below. EXCLUSIONS
3. In no case shall this insurance cover 3.1 loss damage or expense attributable to wilful misconduct of the Assured 3.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured 3.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured to withstand the ordinary incidents of the insured transit where such packing or preparation is carried out by the Assured or their employees or prior to the attachment of this insurance (for the purpose of this Clause 3.3 "packing" shall be deemed to include stowage in a container and "employees" shall not include independent contractors) 3.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured 3.5 loss damage or expense arising from unfitness of aircraft conveyance or container for the safe carriage of the subject-matter insured, where loading therein or thereon is carried out prior to attachment of this insurance or by the Assured or their employees and they are privy to such unfitness at the time of loading. This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract. 3.6 loss damage or expense caused by delay, even though the delay be caused by a risk insured against 3.7 loss damage or expense caused by insolvency or financial default of the owners managers charterers or operators of the aircraft where, at the time of loading of the subject-matter insured on board the aircraft, the Assured are aware, or in the ordinary course of business should be aware, that such insolvency or

financial default could prevent the normal prosecution of the transit This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract 3.8 loss damage or expense arising from the absence shortage or withholding of labour of any description whatsoever resulting from any strike, lockout, labour disturbance, riot or civil commotion 3.9 any claim based upon loss of or frustration of the transit or adventure 3.10 loss damage or expense directly or indirectly caused by or arising from the use of any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter 3.11 loss damage or expense caused by war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power. DURATION Transit Clause 4. 4.1 Subject to Clause 7 below, this insurance attaches from the time the subject-matter insured is first moved in the warehouse, premises or at the place of storage (at the place named in the contract of insurance) for the purpose of the immediate loading into or onto the carrying vehicle or other conveyance for the commencement of transit, continues during the ordinary course of transit and terminates either 4.1.1 on completion of unloading from the carrying vehicle or other conveyance in or at the final warehouse, premises or place of storage at the destination named in the contract of insurance, 4.1.2 on completion of unloading from the carrying vehicle or other conveyance in or at any other warehouse, premises or place of storage, whether prior to or at the destination named in the contract of insurance, which the Assured or their employees elect to use either for storage other than in the ordinary course of transit or for allocation or distribution, or 4.1.3 when the Assured or their employees elect to use any carrying vehicle or other conveyance or any container for storage other than in the ordinary course of transit or 4.1.4 on the expiry of 30 days after completion of unloading of the subject-matter insured from the aircraft at the final place of discharge, whichever shall first occur. 4.2 If, after unloading from the aircraft at the final place of discharge, but prior to termination of this insurance, the subject-matter insured is to be forwarded to a destination other than that to which it is insured, this insurance, whilst remaining subject to termination as provided in Clauses 4.1.1 to 4.1.4, shall not extend beyond the time the subject-matter insured is first moved for the purpose of the commencement of transit to such other destination.

4.3 This insurance shall remain in force (subject to termination as provided for in Clauses 4.1.1 to 4.1.4 above and to the provisions of Clause 5 below) during delay beyond the control of the Assured, any deviation, forced discharge, reshipment or transhipment and during any variation of the adventure arising from the exercise of a liberty granted to the air carriers under the contract of carriage. Termination of Contract of Carriage 5. If owing to circumstances beyond the control of the Assured either the contract of carriage is terminated at a place other than the destination named therein or the transit is otherwise terminated before unloading of the subject-matter insured as provided for in Clause 4 above, then this insurance shall also terminate unless prompt notice is given to the Insurers and continuation of cover is requested when this insurance shall remain in force, subject to an additional premium if required by the Insurers, either 5.1 until the subject-matter insured is sold and delivered at such place, or, unless otherwise specially agreed, until the expiry of 30 days after arrival of the subject-matter insured at such place, whichever shall first occur, or 5.2 if the subject-matter insured is forwarded within the said period of 30 days (or any agreed extension thereof) to the destination named in the contract of insurance or to any other destination, until terminated in accordance with the provisions of Clause 4 above. Change of Transit 6. 6.1 Where, after attachment of this insurance, the destination is changed by the Assured, this must be notified promptly to Insurers for rates and terms to be agreed. Should a loss occur prior to such agreement being obtained cover may be provided but only if cover would have been available at a reasonable commercial market rate on reasonable market terms. 6.2 Where the subject-matter insured commences the transit contemplated by this insurance (in accordance with Clause 4.1), but, without the knowledge of the Assured or their employees the aircraft leaves for another destination, this insurance will nevertheless be deemed to have attached at commencement of such transit. CLAIMS Insurable Interest 7. 7.1 In order to recover under this insurance the Assured must have an insurable interest in the subject-matter insured at the time of the loss. 7.2 Subject to Clause 7.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance, notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Insurers were not. Increased Value 8. 8.1 If any Increased Value insurance is effected by the Assured on the subject-matter insured under this insurance the agreed value of the

subject-matter insured shall be deemed to be increased to the total amount insured under this insurance and all Increased Value insurances covering the loss, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances. 8.2 Where this insurance is on Increased Value the following clause shall apply: The agreed value of the subject-matter insured shall be deemed to be equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the subject-matter insured by the Assured, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances. BENEFIT OF INSURANCE 9. This insurance 9.1 covers the Assured which includes the person claiming indemnity either as the person by or on whose behalf the contract of insurance was effected or as an assignee, 9.2 shall not extend to or otherwise benefit the carrier or other bailee. MINIMISING LOSSES Duty of Assured 10.It is the duty of the Assured and their employees and agents in respect of loss recoverable hereunder 10.1 to take such measures as may be reasonable for the purpose of averting or minimising such loss,and 10.2 to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised and the Insurers will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly and reasonably incurred in pursuance of these duties. Waiver 11.Measures taken by the Assured or the Insurers 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. AVOIDANCE OF DELAY 12.It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control. LAW AND PRACTICE13.This insurance is subject to English law and practice. NOTE:-Where a continuation of cover is requested under Clause 5, or a change of destination is notified under Clause 6, there is an obligation to give prompt notice to

the Insurers and the right to such cover is dependent upon compliance with this obligation. Copyright: 12/08 -Lloyd's Market Association (LMA) and International Underwriting Association of London (IUA).

INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE
This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith 1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel 1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof 1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter 1.4 the radioactive, toxic, explosive or other hazardous or The contaminating properties of any radioactive matter.

exclusion in this sub-clause does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar peaceful

purposes 1.5 any chemical, biological, bio-chemical, or electromagnetic weapon.

INSTITUTE CYBER ATTACK EXCLUSION CLAUSE

Subject only to clause 1.2 below, in no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from the use or operation, as a means for inflicting harm, of any computer, computer system, computer software programme, malicious code, computer virus or process or any other electronic system. Where this clause is endorsed on policies covering risks of war, civil war, revolution, rebellion, insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power, or terrorism or any person acting from a political motive, Clause 1.1 shall not operate to exclude losses (which would otherwise be covered) arising from the use of any computer, computer system or computer software programme or any other electronic system in the launch and/or guidance system and/or firing mechanism of any weapon or missile.

INSTITUTE CHEMICAL, BIOLOGICAL, BIO-CHEMICAL, ELECTROMAGNETIC WEAPONS AND CYBER ATTACK EXCLUSION CLAUSE
This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith 1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from 1.1 1.2 any chemical, biological, bio-chemical or electromagnetic weapon the use or operation, as a means for inflicting harm, of any computer, computer system, computer software programme, computer virus or process or any other electronic system.

TERMINATION OF TRANSIT CLAUSE (TERRORISM) 2009

This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith. 1 Notwithstanding any provision to the contrary contained in the contract of insurance or the Clauses referred to therein, it is agreed that in so far as the contract of insurance covers loss of or damage to the subject-matter insured caused by any act of terrorism being an act of any person acting on behalf of, or in connection with, any organisation which carries out activities directed towards the overthrowing or influencing, by force or violence, of any government whether or not legally constituted or any person acting from a political, ideological or religious motive,

such cover is conditional upon the subject-matter insured being in the ordinary course of transit and, in any event, SHALL TERMINATE:
either 1.1 as per the transit clauses contained within the contract of insurance, or 1.2 on completion of unloading from the carrying vehicle or other conveyance in or at the final warehouse or place of storage at the destination named in the contract of insurance, 1.3 on completion of unloading from the carrying vehicle or other conveyance in or at any other warehouse or place of storage, whether prior to or at the destination named in the contract of insurance, which the Assured or their employees elect to use either for storage other than in the ordinary course of transit or for allocation or distribution, or 1.4 when the Assured or their employees elect to use any carrying vehicle or other conveyance or any container for storage other than in the ordinary course of transit, or 1.5 in respect of marine transits, on the expiry of 60 days after completion of discharge overside of the subject-matter insured from the oversea vessel at the final port of discharge,

1.6 in respect of air transits, on the expiry of 30 days after unloading the subject-matter insured from the aircraft at the final place of discharge,
2 whichever shall first occur. If the contract of insurance or the Clauses referred to therein specifically provide cover for inland or other further transits following on from storage, or termination as provided for above, cover will re-attach, and continues during the ordinary course of that transit terminating again in accordance with clause

ELECTRONIC DATA EXCLUSION CLAUSE

This policy is not liable for claims arising directly or indirectly out of Electronic Data. useable for communications, or processing data ELECTRONIC DATA display, by or distribution, and electronically means facts, concepts and information converted to a form interpretation electronic

electromechanical

processing

controlled equipment and includes programmes, software and other coded instructions for such equipment. Where 'property' or 'Property' are used in the Policy, they do not include Electronic Data.

Absolute Theft Exclusion Clause

This policy excludes absolutely loss or damage due to theft of or from any vehicle and/or trailer and/or container left loaded and unattended.

Accumulation Clause
The limits of liability expressed herein shall not apply in the event of or during transhipment of or after the arrival" of the oversea vessel or conveyance at the port or place of discharge provided always that any accumulation of

interests during the ordinary course of transits beyond such limits of liability shall not have arisen from circumstances within the control of the Assured. Should there be any other accumulation of interests beyond such limits of liability by reason of interruption of transit &lor other circumstances beyond control of the Assured, Underwriters shall, provided notice be given in all such cases as soon as known to the Assured, hold covered such excess amount and be liable for the full amount at risk but in no event shall Underwriters be liable hereunder for more than double the limits of liability expressed herein.

Airfreight Replacement Clause

In the event of loss or damage to insured goods covered hereunder, Insurers agree to pay cost of airfreighting the damaged goods to manufacturers for repair and return &/or the airfreighting of replacement goods to destination notwithstanding that the insured goods were not originally despatched by airfreight.

Alarm and Protections Clause

It is a condition precedent to the liability of the Underwriters under this insurance that: a) the premises containing the insured property are fitted with a burglar alarm system approved by the Underwriters, and that no withdrawal, alteration or variation of the system, or any structural alteration which might affect the system, shall be made without the consent of the Under- writers. b) the burglar alarm system and all locks and padlocks shall have been put into full and effective operation at all times when the Insured's premises are closed for business, and at all other appropriate times. c) the burglar alarm system shall have been maintained in good order throughout the currency of this insurance under a maintenance contract with the installing company. d) all other protections provided for the safety of the insured property shall be maintained in good order throughout the currency of this insurance and that they are in full effective operation at all appropriate times. e) all keys and duplicate keys relative to the above alarm and protections are removed from the premises, when the premises are closed for business, and at all other appropriate times, and f) immediate advice be given to the Underwriters of any notice of with-drawal of police or any other security force or

protection.

Alarm Warranty
Warranted that the alarm system fitted to the vehicles owned by, hired by or under the control of the insured is maintained in full and working order at all times and is tested and set whenever the vehicle is left loaded and unattended.

Antiques Clause
In the event of damage to antique items and/or works of art insured hereunder, liability is restricted to the reasonable cost of repairs and no claim is recover- able in respect of depreciation. In no case shall liability hereunder for such repairs exceed the sum insured bears to the total value of the insured property.

Attachment and Termination of Cover

The Insurance hereunder attaches from the time the subject-matter becomes at the Assured's risk or the Assured assumes interest and continues during delays

during transit &lor after discharge at the final port or airport irrespective of whether such delays are within or beyond the Assured's control and terminates either on; 1. Delivery to the consignee's or other final warehouse at the place where the transit covered hereunder is intended to cease. or 2. The expiry of 60 days after completion of discharge over-side from the overseas vessel or aircraft, at the final port or airport of discharge. whichever shall first occur . Including risks in customs as required, and transhipment, craft and barge risks, whether customary or otherwise. Also including loss of or damage to the subject-matter during loading prior to despatch and unloading after arrival at the Assured's or consignee's premises and, in the case of containers, during the stuffing and un-stuffing thereof.

Average Clause

This Policy is subject to the Conditions of Average, that is to say, if the property covered by this insurance shall at the

time of any loss be of greater value than the sum insured hereby, the Assured shall only be entitled to receive hereunder such proportion of the said loss as the sum insured by this Policy bears to the total value of the said property.

Brands Clause
The Assured shall have full rights to possession of all goods bearing embossed or indented brands or labels or other permanent markings identifying the Assured as the manufacturer thereof, or exclusive &lor secret formulas that may be involved in any loss hereunder, and shall return control of all such goods. On shipments covered under this Policy, Insurers are to pay a total loss on any and all goods &lor containers damaged by perils insured against which the Assured elects to either destroy or return to their factory, or recondition, Insurers being entitled to such salvage as may be obtained. The Assured, exercising a reasonable discretion shall be the sole judge as to whether the goods involved in any loss hereunder are suitable for marketing and no goods deemed by the Assured to be unfit for marketing shall be

sold or otherwise disposed of except by the Assured or with the Assured's consent, but the Assured shall allow Insurers any salvage obtained on any sale or other disposition of such goods.

Buyer's Contingency Clause -C I F

This policy extends to cover the Insured's Interest in all imports purchased by them on CIF or similar terms but only in respect of loss or damage to the goods as provided for under the terms and conditions of this Policy and only to the extent that the Insured is unable to recover such loss under the ins~rance effected by the seller. Warranted the existence of this insurance not to be disclosed to the seller or other parties interested in the shipment Warranted this insurance not to be deemed a double insurance. It is a condition of this insurance that the Insured give immediate notice to the company of any known loss or damage to the goods insured or any circumstances known to them which may render this cover effective.

Upon settlement of any claim hereunder all the Insured's rights of recovery against the seller and any third parties will be subrogated to the Company.

Buyers Contingency Clause

FOB C&F

Notwithstanding the responsibilities of the seller on interest purchased F.O.B or C&F (or any similar terms of sale whereby the seller is responsible for part or all the transit risks within the country of origin) the Assured has the right to hereby insure the interest from the interior at the place of origin as though the purchase was ex works subject to the terms and conditions of this Policy. However the Assured only has the right to claim hereunder providing that:- a) He has suffered a pecuniary loss. b) He has taken all reasonable steps to invoke the contract of sale and the responsibilities thereunder and has attempted to recover from the seller &/or seller's insurers, and pecuniary loss which he has suffered by reason of loss or damage to the subject-matter from a peril insured against during the currency of the Policy. c) He has not divulged the existence of this insurance to the seller or the seller's insurers.

If by reason of this extension, the Underwriters are called upon to pay a claim the Assured subrogates all his rights and remedies to the Underwriters who have the right to sue or proceed in any way against the seller or the seller's insurers, either in their own name or the name of the Assured. This extension does not cover pecuniary loss by reason of Exchange Control Regulations which apply in the country of the seller or any other country on route to the port/place of loading.

Buyers Interest Contingency (Difference in Conditions) Clause

Where goods consigned to or for the Insured's account have already been insured elsewhere but on terms which are more restrictive than that which would be provided hereunder or where the Insured is unable to obtain settlement of legitimate claims under the insurance arranged elsewhere then such goods shall be covered on terms and conditions that shall apply hereunder subject to the following. a) Disclosure of the existence of this insurance to any third party shall render it null and void. b) The Insured has suffered a pecuniary loss.

c) This insurance is for the benefit of the Insured hereunder only and not to be treated as double insurance. d) Upon settlement of any claim hereunder Underwriters will be subrogated to all rights and remedies of the Insured against all third parties including the Insured's suppliers and such rights will be assigned to Underwriters. To include the transit from port or airport in the country of destination to final destination should cover under the insurance arranged elsewhere cease at said port or airport. When required by the Insured Insurers agree to supply General Average Guarantee or refund General Average Deposits.

Cancellation Clause
This cover may be reviewed &lor cancelled by either party having given in writing 30 days notice, but 7 days in respect of War, Strikes, Riots and Civil Commotions but 48 hours for Strikes, Riots and Civil Commotions in respect of sendings to or from the USA. Notwithstanding the foregoing changes in the Institute Cargo Clauses &lor other Institute Clauses contained herein are subject to market notice of cancellation. Note. Such cancellation however shall not apply to any transit risk or risks which

shall have attached at the time such cancellation becomes effective.

Claims Co-Operation Clause

Notwithstanding anything contained herein to the contrary it is a condition precedent to any liability under this policy that: a) The reinsured shall upon knowledge of any loss(es) or occurrence(s) which may give rise to a claim recoverable hereunder advise the reinsurers thereof as soon as practicable. b)The reinsured shall furnish the reinsurers with all information available respecting such loss(es) or occurrence(s) and shall co-operate with the reinsurers in the appointment of Adjusters, Assessors and/or Surveyors and in all negotiations, adjustments and settlements.

Clause Paramount
Notwithstanding anything contained herein to the contrary it is noted and agreed that irrespective of any Declaration/Certificate of Insurance made out to the Country , Airport or Port of Discharge and the interest Insured is actually consigned to a destination in the country

concerned other than the Airport or Port of Discharge, then the insurance shall remain in force during the ordinary course of transit to that final destination as per the Duration Clause of the Institute Cargo Clauses applicable.

Climatic Conditions Clause

No claim to attach hereto for loss or damage caused by climatic and/or atmospheric conditions and/or extremes of temperature, unless such claim would be recoverable under Institute Cargo Clauses (C). No claim to attach hereto for breakage of strings, reeds and/or drumheads in respect of musical instruments.

Concealed Damages Clause

It is agreed that any loss or damage discovered on opening containers, cases &for package within sixty days of the cessation of risk hereunder shall be deemed to have occurred during the transit Insured hereunder (and irrespective of attachment of Insured's interest) and shall be paid for accordingly unless proof conclusive to the contrary be established, it being understood that any containers, cases &for packages showing visible signs of damage are to be opened immediately on the cessation of risk hereunder .

It is further agreed that subject to prompt advice to Underwriters and the payment of an Additional Premium, if required, the above mentioned period may be extended.

Condensation/Contamination Clause
Including condensation damage and damage caused by change in temperature, humidity or contamination, interruption of power, heat, airconditioning or refrigeration howsoever arising.

Containers On-Deck Clause

Containerised shipments in &lor over, cover to include jettison, washing and loss overboard at rates as for underdeck cargo. BUT conventionally packed cargo shipped on deck cover to include jettison, washing and loss overboard, at 150% of cover rate.

Contingency Conditions
1. This Open policy is extended to cover the contingent insurable interest of the unpaid seller in respect of sendings of interests described herein where the terms of the contract of sale state that the buyer has responsibility

to arrange insurance prior to arrival of the overseas vessel or air- craft at the intended port or airport of destination. 2. The interests described herein are insured on policy conditions and insurers agree to grant, against this Open policy, cover retrospective to the commencement of the transit in the event of ownership and/or responsibility for the goods remaining with, or reverting to, the seller if one or more of the following contingencies occur: i) The buyer fails or refuses to accept, or is prevented from accepting, the documents of title. ii) The buyer fails or refuses to accept, or is prevented from accepting, the whole consignment. iii) The seller exercises a right of lien on the goods, or interrupts their transit, or suspends the sale contract whilst the goods are in transit, when this is reasonable to safeguard his interests. 3. Warranted that the seller shall advise the insurers immediately he becomes aware of any circumstances which may give rise to the occurrence of one or more of the contingencies in Clause 2 above. 4. The seller shall take all reasonable steps to protect the cargo, to enforce the sale contract, or if this is not possible, to expedite sale of the goods to another party or their return to the seller. 5. Warranted that the existence of this insurance shall not

be disclosed to the buyer or any other interested party. 6. Notwithstanding anything to the contrary contained herein the period of cover available under this section of the Open policy shall not extend beyond 60 days after completion of discharge overside of the goods from the oversea vessel at the final port of discharge or at any intermediate port where such discharge does not form a normal part of the voyage stated in the Bill of Lading except that where notice is given to insurers within the above period of 60 days extension to the cover granted may be arranged at rates and on conditions to be agreed. 7. All rights and benefits of any actions which the seller may possess or acquire against the buyer and/or the buyer's insurers, and/or carrier(sl and/or other persons are to be subrogated to the insurers. 8. This insurance to be for the benefit of the Insured hereunder only and not to be treated as double insurance. 9. Any assignment of this insurance or any interest or claim hereunder shall discharge Underwriters from all liability whatsoever.

Cutting Clause

In the event of a claim for breakage, Underwriters shall only be liable for the broken or damaged part of each pipe, and this Policy shall only pay for such broken part or parts, provided that the damage be such that it is practicable to use the sound portion or portions for the purpose which they were originally intended.

Declaration Delay, Error Or Omission Clause

The Insured shall not be prejudiced by any unintentional delay, error or omission in the declaration or reporting hereunder of the amount or description of the interest, vessel or voyage, or if the subject matter of the insurance be shipped by any other vessel/conveyance or any fact relative to this insurance, if notice be given to Underwriters when practicable after said facts become known to the Insured and a balance of premium, if any made goods.

Declaration Clause
The Assured warrant that during the currency of this Policy they will declare each and every shipment prior to the commencement of transit or inception of the risks or soon thereafter as may be practicable (on forms supplied)

before a known loss all shipments to which this Policy attaches. Failure to do so declare shall at the Company's option render this Policy null and void as from the date of such failure.

Declined Goods Clause

Subject to prompt notice being given to Underwriters and payment of any Additional Premium as required: 1. This insurance is extended in respect of those sendings declared hereunder, to include goods declined by a consignee. Cover to remain in force for up to three months whilst goods are stored awaiting on-shipment to an alternative buyer &lor returned to the original consignor or other nominated destination. 2. This insurance shall also extend to include goods found to be damaged on arrival at an intermediate point or final destination, whilst stored pending sale or disposal &lor transit to an alternative buyer or returned to the original consignor or nominated destination.

Deliberate Damage (Pollution Hazard) Clause

This Policy is extended to cover, but only whilst the property insured is on board a waterborne conveyance, loss of or damage to the said property directly caused by governmental authorities acting for the public welfare to prevent or mitigate a pollution hazard or threat thereof, provided that the accident or occurrence creating the situation which required such governmental action would have resulted in a recoverable claim under the Policy (subject to all of its terms, conditions and warranties) if the property insured would have sustained physical loss or damage as a direct result of such accident or occurrence. This Clause shall not increase the limits of liability provided for elsewhere herein.

Depreciation Clause
In the event of damage to the interest insured hereunder, liability is restricted to the reasonable cost of repairs and no claim is recoverable in respect of depreciation. In no case shall liability hereunder for such repairs exceed the sum insured in respect of the damaged article.

Documents, Slides and Prints Clause

Liability hereunder is limited to costs necessarily incurred

in replacing the insured interest lost or damaged by a peril insured against, or to the sum insured herein, whichever is the lesser amount. Excluding faults resulting from processing. Excluding Wear, Tear and Gradual Deterioration. Subject to an excess of 1.00% of the total sum insured each and every loss.

Duty Clause
On increased value of cargo by reason of payment of duty at the port or place of destination. Subject to the same clauses and conditions as the insurance on cargo and to pay the same percentage of loss (excluding charges and expenses as may be paid thereon, but excluding claims in respect of; (a) Total loss of whole or part of the cargo prior to the duty becoming payable. (b) General Average, salvage &lor salvage charges arising from any casualty occurring prior to the duty becoming payable. In ascertaining the amount of claim recoverable hereunder, credit shall be given for any rebate or refund of duty which may become allowable.

Exhibition Expenses Clause

It is agreed to include loss of incurred exhibition expenses up to but not exceeding 2,500 each exhibit or exhibition arising from failure of the exhibitor to exhibit the insured goods due to the operation of a peril insured under the transit section of this contract or due to the abandonment of the exhibition by the exhibitor or cancellation of the exhibition by the promoter due in either case to the operation of a peril covered by the transit section of the contract. In no circumstances, however, does this contract cover:a. Loss of expenses arising from withdrawal of labour . b. Cancellation of the exhibition due to an outbreak of war (whether declared or not) or through fear of hostilities.

Exhibition Risks Clause

This insurance is extended to include on cover conditions the insured property whilst in transit to and from exhibition &lor demonstration site and whilst the insured property remains on such premises during unpacking, assembly, awaiting and on exhibition, dismantling, repacking and

lifting for removal from the exhibition site. Subject to a limit anyone exhibition as stated in the Policy schedule. Including computer equipment the property of the Insured &lor their employees up to a maximum of 2,500 anyone exhibition. Including loss &lor damage to employees clothing and personal effects subject to a limit of 250 anyone employee and an excess of 25 each employee per incident. Excluding credit cards, cheques, cash, bank notes, tickets, vouchers or similar. Notwithstanding anything contained herein to the contrary, this insurance excludes:1. Wear, tear and Gradual Deterioration. 2. Loss or damage arising from latent defect or arising from faulty assembly or construction. 3. Loss or damage resulting directly from mechanical, electrical or manual operation of the insured property for demonstration or other purposes. 4. Theft &lor pilferage from unattended exhibition stand. 5. Theft &lor pilferage from unattended exhibition site unless following forcible or violent entry or exit to the premises.

Periods at exhibition site in excess of 60 days held covered on terms to be agreed. Warranted repacked to not less than same standard as for outward journey and that repacking is supervised by a responsible official of the Insured.

First Loss Clause

In the event that the amount at risk in anyone location, in the normal course of transit, exceeds the limit expressed above, this Contract shall become a first loss insurance up to the amount of such limit.

F.O.B Clauses

RISKS COVERED 1. This insurance covers, except as provided in Clause2 and 3 below, 1.1 all risks of loss of or damage to the subject matter insured 1.2 loss of or damages to the subject matter insured caused by 1.2.1 strikers, locked out workmen, or persons taking part in labour disturbances, riot or civil commotions

1.2.2 any terrorist or any person acting from a political motive. EXCLUSIONS 2 In no case shall this insurance cover 2.1 loss damage or expense attributable to wilful misconduct of the Assured 2.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured. 2.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject matter insured (for the purpose of this Clause 2.3 "packing" shall be deemed to include stowage in a container or liftvan but when such stowage is carried out prior to attachment of this Insurance or by the Assured or their servants) 2.4. loss damage or expense caused by inherent vice or nature of the subject-matter Insured. 2.5 loss damage or expense proximately caused by delay, even through the delay be caused by a risk insured against. 2.6 loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission and/or other like reaction or radioactive force or matter.

2.7 Loss damage or expense arising from the absence shortage or withholding of labour of any description whatsoever resulting from any strike, lockout, labour disturbance, riot and civil commotion. 3 In no case shall this Insurance cover loss, damage or expense caused by 3.1 war, civil war, revolution, rebellion, insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power. 3.2 capture, seizure, arrest, restraint or detainment and the consequences thereof or any attempt thereat. 3.3 derelict weapons of war. DURATION 4. This Insurance attaches from the time the subject matter Insured leaves the warehouse or place of storage for the commencement of the transit, continues during the ordinary course of transit until delivered on board the export steamer at port of shipment, including the risk whilst remaining on quays or wharves and/in warehouses (other than packers warehouse) or sheds whilst awaiting shipment for a period not exceeding 30 days. Any period in excess of 30 days held covered at a rate to be agreed. CLAIMS

5. In order to recover under this Insurance, the Assured must have an Insurable Interest in the subject matter insured at the time of the loss. BENEFIT OF INSURANCE 6. This Insurance shall not inure to the benefit of the carrier or other bailee or any Fire insurance policy or policies, carriers Liability insurance or Marine insurance policy or policies covering goods from warehouse in Great Britain to warehouse or destination overseas. MINIMISING LOSS 7. It is the duty of the Assured and their servants and agents in respect of loss recoverable hereunder 7.1 to take such measures as may be reasonable for the purpose of averting or minimising such loss, and 7.2 to ensure that all rights against carriers, bailees or third parties are properly preserved 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. 8. 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. AVOIDANCE OF DELAY 9. It is a condition of this Insurance that the Assured shall act with reasonable despatch in all circumstances within their control. LAW AND PRACTICE 10. This Insurance is subject to English Law and Practice. NOTE: It is necessary for the Assured when they become aware of the event which is held covered under this insurance to give prompt notice to the Company and the right to such cover is dependent upon compliance with this obligation.

Extended Conditions (Fruit Clause)

Including loss or damage caused by a breakdown of the machinery of the ship &lor craft &lor refrigerated machinery &lor ventilating machinery &lor installations &lor insulation &lor piping &lor leakage of piping &lor defective insulation. To pay all damage or depreciation owing to or in consequence of any of the insured perils. Also to pay damage to, or depreciation of the interest hereby insured arising from delay provided such delay be caused by any

of the insured perils, or by total or partial disablement of the vessel (or craft). It is expressly declared and agreed that damage or depreciation arising from delay is only protected when the cargo is actually on board the vessel (or craft) at the time of the accident giving rise to the delay. To pay the reasonable cost of extra coal &lor fuel &lor expenses incurred as a direct result of the operation of a peril covered by the policy in any port of refuge or elsewhere in keeping refrigerating machinery running to prevent loss &lor damage to produce. Notwithstanding anything contained herein to the contrary the following risks are especially covered by the Policy. (a) Risk of collapse, subsidence &lor floods whilst on shore. (b ) Whilst in transit by rail &lor road to include all risks of collision, derailment, fire or loss incurred through damage to insulation of the vans from an accident, also loss through delay arising from breakdown of the engines &lor train &lor vehicle. (c) Including loss, damage &lor expense resulting from explosion however caused. (d) Loss &lor damage &lor deterioration to cargo resulting from negligent operation &lor defective conditions to the vessel &lor craft &lor conveyance &lor propelling &lor

refrigerating &lor auxiliary machinery &lor insulating plant &lor pipes &lor boilers &lor equipment &lor negligent stowage. (e) Including damage caused by sea &lor fresh water, sweat &lor condensation also by other cargo of foreign matter, oil,vermin, rats and mice. (f) Depreciation in value caused solely by damage to cartons packaging.

Fumigation Clause
Should cargo be fumigated cover shall include:a) The costs incurred in the fumigation operation provided such operation is outside of or additional to any normal procedure and the need for such operation is brought about by the operation of or insured peril. b) Damage resulting from the fumigation operation. c) The above shall be payable irrespective of whether actual infestation has been identified as being in existence.

General Average and Salvage Charges Clause

This insurance covers general average and salvage charges, adjusted or determined according to the contract of affreightment &lor the governing law and practice (or, if there is no contract of affreightment, according to Foreign Statement or to York-Antwerp Rules) incurred to avoid or in connection with the avoidance of loss from any cause except those specifically excluded here from. For the purpose of claims for general average contributions and salvage charges recoverable hereunder, the subject-matter insured shall be deemed to be insured for its full contributory value. General average deposits shall be payable on production of general average deposit receipts.

Glass Clause
Excluding breakage of glass but including damage caused by breakage of glass. Goods in Vehicles Under The Control of the Insured & / or Their Employees: Limit AnyOne Vehicle 750,000 * * Amounts in excess of this figure subject to terms and conditions to be agreed prior to attachment of risk.

AT ANY TIME PRIOR TO OR AFTER COMPLETION OF THE WORKING DAY OR ON NON-WORKING DAYS Excluding any loss or destruction of or damage to the Insured property arising from theft or any attempt thereat whilst on or contained in any vehicle when left unattended: unless it is reasonably possible for such vehicle to be, and such vehicle is either: 1. Garaged at the time in a fully enclosed building of substantial construction which is locked or under constant supervision OR 2. In a vehicle security park which is permanently attended OR 3. In any other agreed location OR 4. Is under constant surveillance by the driver or on other responsible person authorised by the Insured. . In which case theft cover will apply. If it is not reasonably possible to comply with any of the above alternatives, it is a condition of this Policy Insured property if portable shall be removed from the vehicle to a private dwelling house, hotel room or other secure premises and theft cover will then be operative following forcible &/or violent entry or exit but not otherwise.

If the Insured cannot comply with the above requirements, and provided the Insured nevertheless take reasonable precautions to prevent or minimise the risk of theft, indemnity shall be provided for loss or destruction of or damage to the Insured property attributed too theft or any attempt thereat, but any settlement shall be subject always to a 80%/20% co- insurance between Underwriters and the Insured.

Immobilizer Clause
It is a condition precedent to liability hereunder that all vehicles and/or trailers and/or containers owned by, hired by or under the control of the Insured are fitted with an immobilizer approved by the Company and that the said immobilizer is put into full and effective operation whenever the vehicle and/or trailer and/or container is left loaded and unattended.

Impairment of Recovery
In case of any agreement or act by the Assured whereby any of their right to recover for loss of or damage to any property insured herein against any carrier or bailee is released, impaired or lost, which would on acceptance of

abandonment or payment of a loss by the Insurers could have inured to its benefit but for such agreement or act, the Insurer shall not be bound to pay that portion of the loss which would have been recoverable from the carrier or bailee.

Important Clause in Respect of Claims Only

PROCEDURE IN THE EVENT OF LOSS OR DAMAGE FOR WHICH THE COMPANY MAY BE LIABLE LIABILITY OF CARRIERS, BAILEES OR OTHER THIRD PARTIES It is the duty of the Assured and their Agents, in all cases, to take such measures as may be reasonable for the purpose of averting or minimising a loss and to ensure that all rights against Carriers, Bailees or other third parties are properly preserved and exercised. In particular, the Assured or their Agents are required: 1. To claim immediately on the Carriers, Port Authorities or other Bailees for any missing packages. 2. In no circumstances, except under written protest, to give clean receipts where goods are in doubtful condition. 3. When delivery is made by Container, to ensure that the Container and its seals are examined immediately by their

responsible official. If the Container is delivered damaged or with seals broken or missing or with seals other than as stated in the shipping documents, to clause the delivery receipt accordingly and retain all defective or irregular seals for subsequent identification. 4. To apply immediately for survey by Carriers' or other Bailees' Representatives if any loss or damage be apparent and claim on the Carriers or other Bailees for any actual loss or damage found at such survey. 5. To give notice in writing to the Carriers or other Bailees within 3 days of delivery if the loss or damage was not apparent at the time of taking delivery .

Increased Value on Arrival

Increased value of cargo by reason of liability for and/or payment of freight and/or duty and/or any charges on arrival at the place where these or any of them become due. This policy covers all the risks and embodies all the liberties clauses and conditions of the insurance on the cargo described above and is to be for the duration of such insurance on such cargo. This policy is to pay the same proportion of the amount of insurance hereunder as the sum paid on the cargo

insurance referred to above bears to the amount of such cargo insurance except that until the liability to pay freight and/or duty and/or charges arises this policy only covers particular and/or general average loss (other than Liability for General Average expenditure' of the cargo described above. Should the liability to pay freight and/or duty and/or charges be extinguished or diminished, then this insurance in the proportion of such extinction or diminution shall be deemed to be reduced.

Inland Transit Clause

RISKS COVERED 1. This insurance covers, except as provided in Clause2 and 3 below, 1.1 all risks of loss of or damage to the subject matter insured 1.2 loss of or damages to the subject matter insured caused by 1.2.1 strikers, locked out workmen, or persons taking part in labour disturbances, riot or civil commotions 1.2.2 any terrorist or any person acting from a political motive.

EXCLUSIONS 2 In no case shall this insurance cover 2.1 loss damage or expense attributable to wilful misconduct of the Assured 2.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured. 2.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject matter insured (for the purpose of this Clause 2.3 "packing" shall be deemed to include stowage in a container or liftvan but when such stowage is carried out prior to attachment of this Insurance or by the Assured or their servants) 2.4. loss damage or expense caused by inherent vice or nature of the subject-matter Insured. 2.5 loss damage or expense proximately caused by delay, even through the delay be caused by a risk insured against. 2.6 loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission and/or other like reaction or radioactive force or matter. 2.7 Loss damage or expense arising from the absence shortage or withholding of labour of any description

whatsoever resulting from any strike, lockout, labour disturbance, riot and civil commotion. 3 In no case shall this Insurance cover loss, damage or expense caused by 3.1 war, civil war, revolution, rebellion, insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power. 3.2 capture, seizure, arrest, restraint or detainment and the consequences thereof or any attempt thereat. 3.3 derelict weapons of war. DURATION 4. This Insurance attaches from the time the subject matter Insured leaves the warehouse or place of storage for the commencement of the transit, continues during the ordinary course of transit and terminates on delivery to the Consigness's premises. CLAIMS 5. In order to recover under this Insurance, the Assured must have an Insurable Interest in the subject matter insured at the time of the loss. BENEFIT OF INSURANCE 6. This Insurance shall not inure to the benefit of the carrier or other bailee.

MINIMISING LOSS 7. It is the duty of the Assured and their servants and agents in respect of loss recoverable hereunder 7.1 to take such measures as may be reasonable for the purpose of averting or minimising such loss, and 7.2 to ensure that all rights against carriers, bailees or third parties are properly preserved 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. 8. 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. AVOIDANCE OF DELAY 9. It is a condition of this Insurance that the Assured shall act with reasonable despatch in all circumstances within their control. LAW AND PRACTICE 10. This Insurance is subject to English Law and Practice.

Insolvency Exclusion Clause (JC 93)

It is hereby agreed that the exclusion "loss damage or expense arising from insolvency or financial default of the owners, managers, charterers or operators of the vessel" is amended to read as follows:In no case shall this insurance cover loss, damage or expense arising from insolvency or financial default of the owners, managers, charterers or operators of the vessel where the Assured are unable to show that, prior to the loading of the subject-matter insured on board the vessel, all reasonable, practicable and prudent measures were taken by the Assured, their servants and agents, to establish the financial reliability of the party in default.

Institute Radioactive Contamination Exclusion Clause

This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith. In no case shall this insurance cover loss, damage, liability or expense directly or indirectly caused by, contributed to by or arising from: a) Ionizing radiations from or contamination by radioactivity

from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel, b) The radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof, c) Any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.

Cargo ISM Forwarding Charges Clause (For use only with JCC Cargo ISM Endorsement JC98/019)

In consideration of an additional premium to be agreed, this insurance is extended to reimburse the Assured, up to the limit of the sum insured for the voyage, for any extra charges properly and reasonably incurred in unloading, storing and forwarding the subject matter to the destination to which it is insured hereunder following release of cargo from a vessel arrested or detained at or diverted to any other port or place (other than the intended port of destination) where the voyage is terminated due either:-

a)to such vessel not being certified in accordance with ISM Code. Or b) to a current Document of Complience not being held by her owners or operators as required under the SOLAS Convention 1974 as amended. This clause, which does not apply to General Average or Salvage or Salvage Charges, is subject to all other terms, conditions and exclusions contained in the Policy and to JCC Cargo ISM Endorsement JC 98/019.

Jetty Clause
Notwithstanding the cover granted under the Warehouse to Warehouse Clause it is a condition of this insurance that Surveys shall be held on the Insured goods in the Landing Shed and that Underwriters shall not be liable for any losses by theft, pilferage and shortage occurring after the above Survey nor for any loss or damage whatsoever except loss or damage caused by fire, after the removal of the goods Insured hereunder from the Landing Shed. In any event it is a condition of this insurance that prior

notification be given to Lloyds Agents at the port of discharge in such time as to permit attendance both at the time of discharge ex craft and the subsequent on to land conveyance.

Labels Clause

In case of damage from perils insured against affecting labels only, loss to be limited to an amount sufficient to pay the cost of reconditioning, cost of new labels, and re-labelling the goods, provided the damage will have amounted to a claim under the terms of the Policy.

Loading and Unloading Clause

Including loss of or damage to the subject-matter during loading prior to despatch and unloading after arrival at the Insured's or Consignees premises, and in the case of Containers, during the stuffing and destuffing thereof. Consignments for which the Insured is only responsible up to Free on Board vessel &lor Free on Board Aircraft held

covered until completion of loading on board vessel &lor aircraft.

Locking Clause
The Company shall not be liable for any loss or damage to the interest insured hereunder resulting from theft or any attempt thereat whilst the said interest is on or contained in any vehicle and/or trailer and/or container owned by, hired by or under the control of the Insured, which is left loaded and unattended unless all points of access have been closed and secured by all the locks, window fastenings and other protections on it, and all the keys are removed.

Loss of or Damage Caused By Civil Authorities

Notwithstanding anything contained in this policy it is understood and agreed that property which is Insured under this policy is also covered against the risk of damage or destruction by civil authorities during a conflagration or for the purpose of retarding the same -provided that neither such conflagration nor such damage or destruction is

caused or contributed to by war perils elsewhere excluded herein.

Loss of or Damage Caused By Governmental Authorities

This insurance is extended to cover loss of or damage to the property Insured hereunder directly caused by Governmental Authorities acting for the public welfare to prevent or mitigate a pollution hazard or threat thereof, provided a recoverable claim would have resulted under the policy (subject to all its terms, conditions and warranties) had the property Insured sustained physical loss or damage as a result of the accident or recurrence that gave rise to the threatened pollution hazard. This clause shall not increase the limits provided for in this policy.

Matched Pairs Clause

In consideration of an Additional Premium calculated at a rate to be agreed it is hereby noted and agreed that where shipments involve Pairs and Sets which are matching &/or

specifically matched and one of the pair or set is lost, total &/or constructive total loss &for damaged as a result of the operation of a peril Insured against during the currency of the Policy then Underwriters agree that such loss &/or damage will constitute total loss &/or damaged as a result of the operation of a peril Insured against during the currency of the Policy then Underwriters agree that such loss &/or damage will constitute total loss of the said pair &/or set. Underwriters to receive benefit of any salvage.

Non-Contribution Clause

This insurance does not cover any loss or damage which at the time of happening of such loss or damage is insured by or would, but for the existence of this Policy, be insured by any other Policy or Policies except in respect of any excess beyond the amount which would have been payable under other Policy or Policies had this Insurance not been effected.

No Recourse Agreement

Underwriters agree to waive rights of recourse against the Insured as Charterers, Carriers, Warehouse Keepers or any other form of Bailee in respect of interest Insured hereunder to the extent that loss, damage or expense

arising in respect of such interest Insured hereunder.

No Survey Clause

It is agreed that claims of up to 500 (or equivalent in other currencies) will be settled on the written statement of the Insured together with relevant documentation without survey.

Obsolete Parts Clause

In the event of damage to the vehicle insured hereunder, liability is re-stricted to the reasonable cost of repair and no claim is recoverable in respect of depreciation. In no case shall liability exceed that proportion of the cost of replacement or repair of the damaged part or parts as the insured value of those part or parts bear to the cost of the insured vehicle.

Over-Carried Clause

Should any interest be over-carried this Policy extends to cover such interest until return to Port of Place of destination as per Institute Cargo Clauses (A) as far as applicable.

Overnight Parking & Locking Warranty

It is warranted, in respect of conveyances in the Insured's ownership or control, that a) they shall be in efficient condition and suitable for the purpose for which used b) any loaded vehicle which is left unattended after commencement of the transit 1) shall be securely locked with all windows and doors fastened and with the ignition key removed 2) where fitted, any alarm or immobiliser system is in full working order and set for operation 3) overnight shall be housed in a securely locked building or compound.

Own Vehicle Theft Exclusion Clause

The Company shall not be liable for any loss or damage to the insured interest whilst on or contained in any vehicle

and/or trailer and/or container owned by, hired by or under the control of the Insured as a result of: 1. Theft when the vehicle and/or trailer and/or container is left unattended unless such vehicle and/or trailer and/or container has all points of ac- cess closed and secured by all the locks and other protections thereon and has all keys removed. 2. Theft of or from the vehicle and/or trailer and/or container left unat- tended between 1800 hours and 0600 hours unless: 2.1 such vehicle and/or trailer and/or container is locked and garaged in a building which is securely closed and locked, OR 2.2 such vehicle and/or trailer and/or container is locked and parked in a yard or compound which is fully enclosed and locked, or is fully enclosed and security manned 24 hours per day. Warranted that the alarm system and/or immobilizer fitted to the vehicle and/or trailer and/or container is in full efficient working order and set whenever the vehicle and/or trailer and/or container is left loaded and unattended.

Packing Clause

In the event of a claim being made for loss or damage which is alleged to be caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured, insurers hereby agree that they will not use such alleged insufficiency or unsuitability as a defence against the claim in any case where the packing or preparation was carried out by a party other than the Named Insured and the insufficiency or unsuitability arose entirely without the Named Insured's privity or knowledge. For the purpose of the clause "Packing" shall be deemed to include stowage in a container &lor other similar inter-model methods of unit load. The Insured agrees to assist insurers in all respects to pursue rights of recovery against sellers &lor other responsible third parties. The above agreement is not to interfere with rights of subrogation against packers &lor their insurers.

Packers Premises
To include whilst at Packers &lor Repairers Premises in the United Kingdom for a period of up to 30 days or held covered.

Pair and Set Clause

In the event of loss &lor damage to any article or articles forming part of a pair or set the Company's liability shall be limited to the value of such parts which may be lost or damaged, without any reference to any special value which such articles or articles may have as part of the insured of such pair or set.

Payment on Account Clause

The Underwriters hereunder agree that where claim papers submitted demonstrate that only the quantum of the claim is in question, they will make a "payment on account" equal to 80% of the lower of the amounts claimed and agreed to by Underwriters, no later than 30 days after the date of submitting the full claim papers and determination of Underwriters Liability whichever shall last occur.

Personal Conveyance Clause

Loss of the item insured hereunder occurring during the insured transit is only covered if the item at the time of loss

a) is being carried upon the person of the Insured or the Insured's representative. OR b) is being carried in the hand of, or is in the close proximity and sight of, the Insured or the Insured's representative if wrapped or in other form of packing or carrying container. OR c) is locked in a safe or other secure place, if left unattended.

Pipeline Clause A
Notwithstanding anything contained in the Institute Cargo Clauses or the Bulk Oil Clauses with the Marine Extension Clauses (for use in connection with Oil in bulk), it is understood and agreed that this insurance attaches from the time the goods have passed the permanent hose connection of the vessel at the port of shipment and continues thereafter as stipulated in the said clauses, until the goods are discharged into the consignee's or other shore tank at the port of destination named in the policy.

Pipeline Clause B

Notwithstanding anything contained in the Transit Clause of the Institute Cargo Clauses to the contrary, it is understood and agreed that this insurance attaches from the time the goods have passed the coupling of the pipe of shore thank at the port of shipment and continues thereafter as stipulated in the said clause, until the goods are discharged into the consignee's or other shore thank at the port of destination named in the policy.

Plans Clause (Engineering Materials, Plans, Drawings, Reports, Manuscripts)

In the event of loss of or damage to the interest insured resulting from an insured peril, claims for the cost of replacing the material shall not exceed the sum insured hereunder.

Port Delay Clause

Notwithstanding the provisions of Clause 8 of the Institute Cargo Clauses, this insurance shall terminate on the expiry

of 60 days from midnight on the day of arrival of the overseas vessel at the final port of discharge of the goods hereby insured if their discharge has not by then been completed: Thereafter subject to prompt notice being given to Underwriters the goods shall be held covered for a period and at a premium to be arranged. The period of up to 60 days specified above or any extension thereof shall nevertheless terminate immediately upon completion of discharge overside from the oversea vessel and continuation of cover shall thereupon be governed by the provisions of Clause 8 of the Institute Cargo Clauses or any amendment thereto. Arrival shall be deemed to mean that the vessel is anchored moored or other- wise secured at berth and/or place within the Harbour Authority Area. If such berth and/or place is not available, arrival is deemed to have occurred when the vessel first anchors, moors or otherwise secures either at or off the intended discharge port to await a discharge berth.

Potential Duty Clause

It is agreed that this insurance is extended to cover the Insured's potential liability for payment of duty on bonded

goods to the Customs and Excise Authority of any country (including Great Britain and Northern Ireland! through which the interest may pass prior to coming within the jurisdiction of the country of destination which they may be legally liable to pay and shall pay due to loss of, destruction of or damage to the insured interest resulting from a peril insured against.

Process Clause
No claim to attach hereto for damage to insured property which may be sustained whilst the same is under any process and directly resulting therefrom.

Profit Commission Clause

It is agreed that Underwriters shall allow the Assured 10% of the Annual Profit each underwriting year. Profit to be calculated as follows, but not before 6 months after the expiry of the period to which this Profit Commission is applicable, and subject to renewal of the contract being offered to Underwriters through the same Broker.

Profit Commission will only apply subject to the following formula, on a basis that the loss ratio shall not exceed 95% in anyone Underwriting year after allowing for:Credit: 1. 95% of Nett Premiums applying to the year after deduction of returns and calculations. Debit: 1. Claims and Expenses less refunds and Salvage Recoveries. 2. Debit Balance, if any, carried forward from previous period. It is agreed that claims attaching to anyone underwriting year, but settled after a profit commission has been paid for that year, shall be taken into consideration in calculating the Profit Commission payable on the years business during such claims have been settled. If the account shall show a loss, such a loss shall be carried forward in successive year's account, but not in excess of 3 years, until completely extinguished.

Re-issue Clause
In the event of loss or destruction of the interest from a peril insured against, the liability of the Company shall be limited to the cost of reprinting and freight and all charges

incurred in forwarding the replacement interest to the original destination including insurance premium and charges in connection therewith.

Rejection Expenses Clause

In the event of rejection &/or prohibition by a governmental body or authority only, for any reason whatsoever it is agreed that this insurance shall pay up to 25% of the Insured value of the interest involved, in respect of storage, transportation and any other consequent expenses &for loss in value. Subject to a maximum contribution by Underwriters of 10,000 anyone event or happening. Notwithstanding the above, any shipment made under a quota system that exceeds the quota concerned, is excluded from the scope of these provisions.

Removal of Debris (Own Vehicles) Clause

It is agreed that subject to the operation of an insured peril, underwriters will pay costs and expenses reasonably incurred by the Assured in connection with:1. Removal and disposal of debris &for destruction of damaged goods.

2. The transfer of items covered hereunder from one conveyance to another in the event of an accident to the .original conveyance. The indemnity provided by this clause shall be in addition to the indemnity provided elsewhere herein but limited to 5,000 anyone incident and subject to an excess of 100. Excluding any expenses incurred in consequence of or to avert or mitigate pollution or contamination or any threat or liability thereof.

Removal of Debris Clause

It is agreed that subject to the operation of an insured peril Underwriters will pay costs and expenses necessarily incurred by the Assured in connection with: (a) removal of debris (b) dismantling &/or demolishing (c) shoring up &/or propping (d) the transfer of items, covered hereunder, from one conveyance to another in the event of an accident to the original conveyance which results in loss of or damage to such items which is recoverable hereunder.

Re-package Clause

It is understood and agreed that should the packing be damaged from any peril insured against irrespective of the final destination shown herein, Underwriters to pay the cost of repacking expenses and materials provided such damage occurred during the currency of this insurance irrespective of whether the subject matter has sustained damage. Subject to a limit of 5,000 anyone incident and an excess of 100 each incident.

Replacement Clause (Secondhand Machiney)

In the event of claims for loss or damage to any part of the insured interest in consequence of a peril covered by the Policy, the amount recoverable hereunder shall not exceed such proportion of the cost of replacement of the parts lost or damaged as the insured value bears to the value of new machinery , plus additional charges for forwarding and re-fitting the new part or parts if incurred.

Excluding the risks of Rust, Oxidisation, Discolouration, Scratching, Bruising, Denting and subsequent cost of repainting unless recoverable against Institute Cargo Clauses (C) Excluding Electrical &lor Mechanical Derangement unless caused by a peril insured against.

Returned Goods Clause

It is agreed that returned goods are covered subject to the following: 1. Cover Terms and Conditions Excess stock, incorrect orders or similar 2. Restricted Cover In respect of goods that have suffered physical damage the following terms and conditions shall apply: Institute Cargo Clauses (B) Including Theft and Non-Delivery of an entire package Institute War and Strikes Clauses as applicable Institute Malicious Damage Clause Institute Classification Clause Unless:

A Surveyors Report is made prior to the return of the goods when cover shall be subject to normal policy terms and conditions but excluding damage noted in such report. The report to be made available to Underwriters as required.

Revision of Institute Clauses

The Institute Clauses referred to herein are those current at the inception of this contract but should clauses be revised during the period of this contract and provided that the Underwriters shall have given at least 30 days notice thereof, then the revised Institute Clauses shall apply to risk attaching subsequent to the date of expiry of the Said Notice.

Shipments in Bulk Clause

Pipe Lines, Ship's tanks, shore tanks and loading equipment to be inspected prior to loading and the Certificate of Cleanliness shall be accepted as proof between the Insured and Underwriters that the pipe lines,

ship's tanks, shore tanks and loading equipment were fit to receive cargo. In connection with this clause, Underwriters agree to accept a Certificate of Cleanliness issued by any of the following surveyors: 1. Lloyds Agents or their appointed representatives. 2. Any other qualified Surveyors who are mutually acceptable to the Insured and the Insurers subject always to approval prior to attachment of risk. In respect of bulk sendings in Road or Rail Tankers it is agreed that no Certificates of Cleanliness are issued. Warranted that: .The tanks, pipe lines and loading equipment are inspected and found clean prior to cargo loading. .These inspections are carried out by trained and qualified personnel.

Stock Warranties

It is Warranted that

a) All security protections existing at the inception date of this Policy or subsequently fitted at the request of the company be maintained in proper working order and put into operation and any keys for such protections and the keys of any safes or strongrooms containing any of the property insured hereunder be removed from the premises at night or whenever the premises are closed for business. b) any burglar alarm at the buildings be i) installed in accordance with a specification and requirements agreed by the company ii) regularly and efficiently maintained under a maintenance contract by the burglar alarm company iii) put into full and effective operation whenever the premises are closed or unoccupied Provided that in any event the company shall not be liable under this Policy for losses occasioned by theft subsequent to the Insured receiving a written notification from a burglar alarm company that the maintenance contract is suspended or from the relevant Police Authority that alarm signals from the premises will no longer be answered.

Breach of this Warranty shall only invalidate claims in respect of theft of the Property insured whilst contained in the premises at which the breach of Warranty has occurred. Exclusions Loss, destruction or damage caused by or occasioned through:a) wear, tear, gradual deterioration, rust or corrosion, inherent vice, moth vermin, insects, damp or mildew, wet or dry rot or seepage below ground level; b) shrinkage, evaporation, loss of weight, contamination, marring, scratching, change of flavour, colour, texture or finish, change in temperature or humidity (unless such loss, destruction or damage: is directly caused by any peril not otherwise excluded by this Policy); c) overloading, mechanical or electrical breakdown, failure, derangement or disturbance, latent defects, faulty materials, design or workmanship (but excepting, ensuring loss, destruction or damage caused by a peril not otherwise excluded by this Policy); d) theft or any attempt thereat:

i) of the property insured left in the open or not contained in lock-fast buildings ii) unless involving violent and forcible entry into or exit from the premises; e) infidelity or dishonesty of the Insured or any of his employees or other persons to whom property insured hereunder may be entrusted nor loss or damage resulting from the Insured involuntarily parting with title or possession of any property if induced to do so by any fraudulent scheme, trick, device or false pretence; f) disappearance, unexplained shortage disclosed at normal stock-taking, delay, loss of market, loss of use or any other consequential loss; g) subsidence, collapse, heave or landslip or normal settling, cracking, shrinkage or expansion of the building or the site or any parts thereof on which the within described property stands; h) explosion (other than loss, destruction or damage by fire resulting from explosion) occasioned by the bursting of a boiler (not being a boiler used for domestic purposes only), economiser or other vessel, machine or apparatus in which internal pressure is due to steam only and belonging to or under the control of the Insured;

i) the undernoted perils occurring while any building is vacant, disused or ceases to be operated: i) theft ii) malicious act or vandalism except destruction or damage caused by fire iii) escape of water or oil from any water or heating installation; j) solidification of the contents of molten material holding units, molten material transmission lines &for appurtenances (unless such loss, destruction or damage is directly caused by any peril not otherwise excluded by this Policy); k) electrical or magnetic injury, disturbance, or erasure or electronic recordings except by lightening; I) storm, tempest, flood or the bursting or overflowing of water tanks apparatus or pipes to:i) buildings (and contents therein) not maintained in a good and substantial state of repair, ii) fences, gates, drains, sewers or water courses, nor the cost of cleaning or making good; Loss, destruction or damage to:a) aircraft, watercraft, motor vehicles licensed for road use, or their accessories;

b) that portion of any electrical apparatus, appliance or device of any kind (including wiring) caused by its own over-running, excessive pressure, short-circuiting, self- heating or leakage of electricity; c) livestock, growing crops or standing timer or explosives; d) land, roads, pavements, piers, jetties, bridges, culverts, excavations; e) jewellery , precious stones, articles of gold, silver or other precious metals or furs; f) securities and other negotiable instruments, coin, bank and currency notes, cheques, national giro payment orders, money and postal orders, postage and revenue stamps, national savings stamps and certificates, holiday-with-pay-stamps, trading stamps, luncheon vouchers, credit cards and credit card vouchers; g) that part of the property insured which is actually being worked upon or undergoing any process, directly resulting therefrom or caused by any testing, repairing, adjusting, servicing or maintenance operation; h) movable property in the open by the action of rain, hail, snow, sleet, frost or dust or other action of the weather;

i) property or structures in course of construction or erection and materials or supplies in connection with all such property in course of construction or erection. loss, destruction or damage directly or indirectly occasioned by or happening through or in consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power, confiscation or detention by Customs or other Officials or Authorities. loss, destruction or damage to any property whatsoever or any loss or expense whatsoever resulting or arising therefrom directly or indirectly caused by or contributed to by or arising from: a) ionising radiations, or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel; b) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof. loss, destruction or damage directly occasioned by pressure waves caused by aircraft and other aerial devices travelling at sonic or supersonic speeds.

Strikes Expenses Clauses

This insurance is to pay (only) any additional expenditure incurred by the Insured by reason of the exercise by the Shipowners or Charterers of any liberty granted by the contract of affreightment whereby solely in consequence of strikes, riots, civil commotions, lock-outs or labour disturbances, or solely in consequence of conditions arising therefrom making discharge in the normal course impossible, the within mentioned goods are over-carried or discharged at a port other than the final port of discharge named in the contract of affreightment such expenditure being payable irrespective of any other loss whether total or partial recoverable under the terms of any other insurance upon the interest, provided however, that in no case shall Underwriters be liable for any claims unless the liberty referred to in this clause be exercised prior to the expiry of 15 days from midnight on the day on which the strikes, riots, civil commotions, lock-outs or labour disturbances giving rise to the exercise of such liberty cease to be in active operation. The limit of liability hereunder is to be 20% of the value for marine insurance.The Insured to bear 10% of all claims recoverable hereunder. Warranted that the 10% deductible

remains uninsured and at the Insured's risks.

Survey Clause
In the case of a claim expected to be less than CDN$ (or equivalent in any other currency), Customs Document or other similar documents or the Insured's or Consignee's statement to be accepted as sufficient proof of loss and/or damage.

Testing & Sorting Costs Clause

Should visible signs of external damage to packing or goods insured herein be discovered, Insurers agree to meet reasonable costs of testing and sorting the goods whether or not any actual damage is subsequently found including the cost of transporting the goods to or from a test facility plus the cost of repacking and shipment to destination after completion. Subject to a limit of 2,500 anyone incident, unless such costs are reasonably incurred in order to prevent or minimise a loss to the subject-matter.

Theft Clause

Between 1800 hours and 0600 hours the risks of theft of or from vehicles &lor trailers &lor containers which islare owned &lor operated by the Insured when left unattended whilst in the care and custody of the Insured are excluded absolutely unless such vehicles &lor trailers &lor containers is garaged in a building or parked in a fully enclosed yard, whJch is securely closed and locked or under constant surveillance or on a guarded security lorry park and such vehicles &lor trailers &lor container has all the openings closed and securely locked and all keys removed, so far as local fire regulations permit.

Transhipment Clause

Including Customary Transhipment without additional premium. Other Transhipment held covered at Rates &for conditions to be agreed.

Unseaworthiness and Unfitness Exclusion

In no case shall this insurance cover loss damage liability or expense howsoever caused by resulting from or connected with 1. Unseaworthiness of vessel or craft, or 2. Unfitness of vessel craft container liftvan or land conveyance for the safe carriage of the Subject Matter Insured. Where this insurance has been assigned to a party claiming hereunder who has bought or agreed to buy the Subject Matter Insured in good faith under a binding contract, the above exclusion shall not apply. Where the Insured can demonstrate they took all reasonable steps to establish the seaworthiness of the vessel or craft and fitness of the vessel craft container liftvan or land conveyance, Underwriters waive any breach of the implied warranties of seaworthiness of the vessel or craft and fitness of the vessel craft container liftvan or land conveyance to carry the Subject Matter Insured to destination. . Wherever the words "ship, vessel or (un)seaworthiness" appear in this insurance and any endorsements hereto, they are deemed to include the words "aircraft and (un)seaworthiness" as appropriate.

War and Civil War Exclusion Clause

Notwithstanding anything to the contrary contained herein, this Policy does not cover loss damage liability or expense directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalization or requisition or destruction of or damage to property by or under the order of any government or public or local authority.