CL349
(This insurance is subject to English law and practice)
1. ATTACHMENT
This insurance shall not attach to the subject-matter insured until the vessel is launched and then shall attach only to such part of the subject-matter as is built into or is in or on the vessel at the time of the launch. The insurance against the said risks shall attach to the remainder of the subject-matter insured only as it is placed in or on the vessel subsequent to the launch.
2. PERILS
Subject always to the exclusions hereinafter referred to, this insurance covers loss of or damage to the subject-matter insured caused by
2.1 war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power
2.2 capture seizure arrest restraint or detainment, arising from perils covered under 2.1 above, and the consequences thereof or any attempt thereat
2.3 derelict mines torpedoes bombs or other derelict weapons of war.
3. PROTECTION AND INDEMNITY
This insurance also covers, subject to the limitation of liability provided for in Clauses 19.5 and 19.6 of the Institute Clauses for Builders' Risks 1/6/88, the liability under Clause 19 of the Institute Clauses for Builders' Risks 1/6/88 which is excluded by Clauses 21, 22.2 and 23.
Provided however that such cover shall not attach until the vessel is launched.
4. INCORPORATION
The Institute Clauses for Builders' Risks 1/6/88 except Clauses 4, 5.1 and 5.2, 7, 8, 21, 22, 23 and 24 are deemed to be incorporated in this insurance, in so far as they do not conflict with the provisions of these clauses.
5. DETAİNMENT
İn the event that the vessel shall have been the subject of capture seizure arrest restraint or detainment, and the Assured shall thereby have lost the free use and disposal of the vessel for a continuous period of 12 months then for the purpose of ascertaining whether the vessel is a constructive total loss the Assured shall be deemed to have been deprived of the possession of the vessel without any likelihood of recovery.
6. EXCLUSIONS
This insurance excludes
6.1 loss damage liability or expense arising from
6.1.1 any detonation of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter, hereinafter called a nuclear weapon ofwar
6.1.2 the outbreak of war (whether there be a declaration of war or not) between any of the following countries:
United Kingdom, United States of America, France, the Union of Soviet Socialist Republics, the People's Republic of China
6.1.3 confiscation expropriation requisition or pre-emption
6.1.4 capture seizure arrest restraint or detainment by or under the order of the government or any public or local authority of the country in which the vessel is owned or registered
6.1.5 arrest restraint or detainment under quarantine regulations or by reason of infringement of any customs or trading regulations
6.1.6 the operation of ordinary judicial process, failure to provide security or to pay any fine or penalty or any financial cause
6.1.7 any claims based upon loss of or frustration of any voyage or contract for sale or other adventure,
6.2 loss damage liability or expense covered by the Institute Clauses for Builders' Risks 1/6/88 or which would be recoverable thereunder but for Clause 10 thereof,
6.3 any claim for any sum recoverable under any other insurance on the property hereby insured or which would be recoverable under such insurance but for the existence of this insurance,
6.4 any claim for expenses arising from delay except such expenses as would be recoverable in principle in English law and practice under the York-Antwerp Rules 1974.
7. TERMINATION
7.1 This insurance may be cancelled by eitherthe Underwriters orthe Assured giving 7 days notice (such cancellation becoming effective on the expiry of 7 days from midnight of the day on which notice of cancellation is issued by or to the Underwriters). The Underwriters agree howeverto reinstate this insurance subject to agreement between the Underwriters and the Assured prior to the expiry of such notice of cancellation as to new rate of premium and/or conditions and/or warranties.
7.2 Whether or not such notice of cancellation has been given this insurance shall TERMINATE AUTOMATICALLY
7.2.1 upon the occurrence of any hostile detonation of any nuclear weapon of war as defined in Clause 6.1.1 wheresoever orwhensoever such detonation may occur and whether or not the vessel may be involved
7.2.2 upon the outbreak of war (whether there be a declaration of war or not) between any of the following countries
United Kingdom, United States of America, France, the Union of Soviet Socialist Republics, the People's Republic of China
7.2.3 in the event of the vessel being requisitioned, either for title or use.
7.3 İn the event either of cancellation by notice or of automatic termination of this insurance by reason of the operation of this Clause 7 pro rata net return of premium shall be payable to the Assured.
This insurance shall not become effective if, subsequent to its acceptance by the Underwriters and prior to the intended time of its attachment, there has occurred any event which would have automatically terminated this insurance under the provisions of Clause 7 above.
1/6/88
CL349 © Copyright The Institute of London Underwriters
INSTITUTE WAR CLAUSES BUILDERS' RISKS