CL115
Notwithstanding anything to the contrary which may be contained in the policy orthe clauses attached thereto, no claim arising from a peril insured against shall be payable under this insurance unless the aggregate of ali such claims arising out of each separate accident or occurrence (including claims under the Collision, Protection and Indemnity,
Removal of Wreck, and Suing and Labouring Clauses) exceeds in
which case this sum shall be deducted.
Nevertheless the expense of sighting the bottom after stranding, if reasonably incurred specially for that purpose, shall be paid even if no damage be found. This paragraph shall not apply to a claim for total or constructive total loss of the subject matter insured.
Claims for damage by heavy weather occurring during a single sea passage between two successive ports shall be treated as being due to one accident. İn the case of such heavy weather extending över a period not wholly covered by this insurance the deductible to be applied to the claim recoverable hereunder shall be the proportion of the above deductible that the number of days of such heavy weather falling within the period of this insurance bears to the number of days of heavy weather during the single sea passage.
The expression "heavy weather" in the preceding paragraph shall be deemed to include contact with floating ice.
Excluding any interest comprised therein, recoveries against any claim which is subject to the above deductible shall be credited to the Underwriters in full to the extent of the sum by which the aggregate of the claim unreduced by any recoveries exceeds the INSTITUTE DEDUCTIBLE CLAUSE BUILDERS' RİSK
above deductible.
İnterest comprised in recoveries shall be apportioned between the Assured and the Underwriters, taking into account the sums paid by Underwriters and the dates when such payments were made, notwithstanding that by the addition of interest the Underwriters may receive a larger sum than they have paid.
1/12/72
CL115 © Copyright The Institute of London Underwriters
INSTITUTE DEDUCTIBLE CLAUSE BUILDERS' RİSK