RISKS COVERED
1. This insurance covers, except as provided in Clauses 4, 5, 6, and 7 below,                    Risks
Clause
1.1 loss of or contamination of the subject-matter insured reasonably attributable to
1.1.1 fire or explosion.
1.1.2 vessel or craft being stranded grounded sunk or capsized
1.1.3 collision or contact of vessel or craft with any external object other than water
1.1.4 discharge of cargo at a port or place of distress
1.1.5 earthquake volcanic eruption or lightning,
1.2 loss of or contamination of the subject-matter insured caused by
1.2.1 general average sacrifice
1.2.2 jettison
1.2.3 leakage from connecting pipelines in loading transhipment or discharge
1.2.4 negligence of Master Officers or Crew in pumping cargo ballast orfuel,
General Average Clause
1.3 contamination of the subject-matter insured resulting from stress of weather.
2. This insurance covers general average and salvage charges, adjusted or determined according to the contract of affreightment and/or the governing law and practice, incurred to avoid or in connection with the avoidance of loss from any cause except those excluded in Clauses 4, 5, 6 and 7 or elsewhere in this insurance.
"Both to Blame Collision" Clause
3. This insurance is extended to indemnify the Assured against such proportion of liability under the contract of affreightment "Both to Blame Collision" Clause as in respect of a loss recoverable hereunder. İn the event of any claim by shipowners under the said Clause the Assured agree to notify the Underwriters who shall have the right, at their own cost and expense, to defend the Assured against such claim.
EXCLUSIONS
General
Exclusions
Clause
4. İn no case shall this insurance cover
4.1 loss damage or expense attributable to wilful misconduct of the
Assured
4.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
4.3 loss damage or expense caused by inherent vice or nature of the subject-matter insured
4.4 loss damage or expense proximately caused by delay, even though the delay be caused by a risk insured against (except expenses payable under Clause 2 above)
4.5 loss damage or expense arising from insolvency or financial default of the owners managers charterers or operators of the vessel
4.6 loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.
Unseaworthine ss
and Unfitness Exclusion Clause
                                                                          

where the Assured or their servants are privy to such unseaworthiness or unfitness, at the time the subject-matter insured is loaded therein.
5.2 The Underwriters waive any breach of the implied warranties of
seaworthiness of the ship and fitness of the ship to carry the subject- matter insured to destination, unless the Assured or their servants are privy to such unseaworthiness of unfitness.
6. İn no case shall this insurance cover loss damage or expense caused by                        War
Exclusion
6.1 war civil war revolution rebellion insurrection, or civil strife arising                       Clause therefrom, or any hostile act by or against a belligerent power
6.2 capture seizure arrest restraint or detainment (piracy excepted), and the consequences thereof or any attempt thereat
6.3 derelict mines torpedoes bombs or other derelict weapons of war.
7. İn no case shall this insurance cover loss damage or expense Strikes
Exclusion
5. 5.1 İn no case shall this insurance cover loss damage or expense
arising from
unseaworthiness of vessel or craft,
unfitness of vessel craft or conveyance for the safe carriage of the subject-matter insured,
7.1 caused by strikers, locked-out workmen, or persons taking part in                      Clause labour disturbances, riots or civil commotions
7.2 resulting from strikes, lock-outs, labour disturbances, riots or civil commotions
7.3 caused by any terrorist or any person acting from a political motive. 8. 8.1 This insurance attaches as the subject-matter insured leaves tanks                                                                Transit 
for the purpose of loading at the place named herein for the Clause
commencement of the transit, continues during the ordinary course of transit and terminates either
8.1.1 as the subject-matter insured enters tanks on discharge to place of storage or to storage vessel at the destination named herein,
or
8.1.2 on the expiry of 30 days after the date of arrival of the vessel at the destination named herein, whichever shall first occur.
8.2 If, after discharge from the oversea vessel into craft at the final port or place of discharge, but prior to the termination of this insurance under 8.1 above, the subject-matter insured or any part thereof is to be forwarded to a destination other than that to which it is insured hereunder, the insurance on the subject-matter insured or such part thereof shall not extend beyond the commencement of transit to such other destination, urıless otherwise agreed bythe Underwriters upon the receipt of prompt notice from the Assured.
8.3 Subject to prompt notice being given to the Underwriters and to an additional premium ifrequired bythem, this insurance shall remain in force (until terminated under 8.1 or 8.2 above and subject to the provisions of Clause 9 below) during delay beyond the control of the Assured, any deviation, forced discharge, reshipment or transhipment and during any other variation of the adventure provided such other variation is beyond the control of the Assured.
9. If owing to circumstances beyond the control of the Assured either the Termination
contract of carriage is terminated at a port or place other than the of Contract
destination named therein or the transit is terminated otherwise than as of Carriage
provided in Clause 8 above, then this insurance shall also terminate unless                     Clause prompt notice is given to the Underwriters and continuation ofcoveris requested when the insurance shall remain in force, subject to an additional premium if required by the Underwriters, either
9.1 until the goods are sold and delivered at such port or place, or,
unless otherwise specially agreed, until the expiry of 30 days after arrival of the goods hereby insured at such port or place, whichever shall first occur,
or
9.2 if the goods are forwarded within the said period of 30 days (or any agreed extension thereof) to the destination named herein orto any other destination, until terminated in accordance with the provisions of Clause 8 above.
10. Where, after attachment of this insurance, the destination is changed by the Change of Assured, held covered at a premium and on conditions to be arranged Voyage subject to prompt notice being given to the Underwriters. Clause
CLAIMS
11. 11.1 İn orderto recover under this insurance the Assured must have an Insurable
insurable interest in the subject-matter insured at the time of the Interest loss.
Clause
11.2 Subject to 11.1 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 Underwriters were not.
12. Where, as a result of the operation of a risk covered by this insurance, the                    Forwarding insured transit is terminated at a port or place other than that to which the                     Charges subject-matter is covered under this insurance, the Underwriters will Clause
reimburse the Assured 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.
This Clause 12, which does not apply to general average or salvage charges, shall be subject to the exclusions contained in Clauses 4, 5, 6 and 7 above, and shall not include charges arising from the fault negligence insolvency of financial default of the Assured or their servants.
13. No claim for Constructive Total Loss shall be recoverable hereunder unless                    Constructive the subject-matter insured is reasonably abandoned either on account of its                   Total Loss actual total loss appearing to be unavoidable or because the cost of  Clause
recovering, reconditioning and forwarding the subject-matter to the destination to which it is insured would exceed its value on arrival.
14. 14.1 If any Increased Value İnsurance is effected by the Assured on the                              Increased cargo insured herein the agreed value of the cargo shall be deemed                           Value to be increased to the total amount insured under this insurance and                        Clause ali Increased Value insurances covering the loss, the liability under this insurance shall be in such proportion as the sum insured herein bears to such total amount insured.
İn the event of claim the Assured shall provide the Underwriters with evidence of the amounts insured under ali other insurances.
14.2 Where this insurance is on Increased Value the following clause shall apply:
The agreed value of the cargo shall be deemed to be equal to the total amount insured under the primary insurance and ali Increased Value insurances covering the loss and effected on the cargo by the Assured, and liability under this insurance shall be in such proportion as the sum insured herein bears to such total amount insured.
İn the event of claim the Assured shall provide the Underwriters with evidence of the amounts insured under ali other insurances.
15. Claims for leakage and shortage recoverable under this insurance are to be                  Adjustment adjusted as follows:- Clause
15.1 The amount recoverable shall be the proportionate insured value of the volume                 of oil lost, to be ascertained by a comparison of the gross volume certified as having left tanks for loading on to the vessel with the gross volume certified as having been delivered to tanks at the termination of the transit, except that where the contract
of sale is based on weight and not on volume the amount recoverable may be calculated on a weight basis from such certified quantities.
The term "gross volume" in this Clause 15.1 means total volume without deduction of sediment and water content and free water, except to the extent that the amount of water can be shown by the Assured to have increased abnormally during the insured transit as a result of the operation of a risk covered by this insurance.
15.2 Adjustment shall be made to the calculation under 15.1 above to eliminate any change in volume caused by variation in temperature and any apparent change in quantity arising from the use of inconsistent procedures in determining the certified quantities.
15.3 Where this insurance provides for an excess to be applied to claims for leakage or shortage, such excess shall be deemed to include ordinary loss in weight or volume except when caused by variation in temperature or settling out of water. Where there is no such provision, the amount recoverable in accordance with Clauses 15.1 and 15.2 shall be subject to reduction for any ordinary loss excluded by Clause 4.2 above.
BENEFIT OF İNSURANCE
16. This insurance shall not inure to the benefit of the carrier or other bailee.                        Not to
      Inure Clause
MINIMISING LOSSES
17. İt is the duty of the Assured and their servants and agents in respect of loss                          Duty of recoverable hereunder       Assured
Clause
17.1 to take such measures as may be reasonable for the purpose of averting orminimising such loss,
and
17.2 to ensure that ali rights against carriers, bailees or other 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.
18. Measures taken by the Assured or the Underwriters with the object of Waiver
saving, protecting or recovering the subject-matter insured shall not be Clause
considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.
AVOIDANCE OF DELAY
19. İt is a condition of this insurance that the Assured shall act with reasonable                    Reasonabl despatch in ali circumstances within their control. e
                                                                                                                                               Despatch Clause
LAW AND PRACTICE
20. This insurance is subject to English law and practice. English
Law and Practice Clause
NOTE:- İt is necessary for the Assured when they become aware of an event which is "heid covered" under this insurance to give prompt notice to the Underwriters and the right to such cover is dependent upon compiiance with this obiigation.
1/2/83
CL273 © Copyright The Institute of London Underwriters