Named Insured / Loss Payable to: You or anyone on your behalf.

2. Voyage/Geographical Scope: Shipments are to be insured at and from ports and/or places in the world to other ports and/or places in the world and vice versa via any route, direct or indirect, or via ports in any order, including the risks of transshipment and lighterage, whether customary or otherwise.

3. Conveyance/ Method of Transport: Coverage applies to shipments moving by LAND, AIR & OCEAN. a) Shipments can only be transported by trucks, rail/train, aircraft/plane, mail/parcel post, steamer and or motor boats/vessels and including connecting conveyances/methods of transport.

Shipments cannot be transported by sailing boats with or without auxiliary power except as connecting conveyances.  b) Including transit by craft and or lighter to and from the vessel/boat. Each craft and or lighter to be deemed a separate insurance. The Assured are not to be prejudiced by any agreement exempting lightermen from liability.

4. Valuation: Coverage is provided at replacement cost valuation unless otherwise specified in the terms herein. The value of shipments insured under this policy shall be the amount of the shipper's invoice, including all charges therein plus any freight charges not included in the invoice, plus optional 10%. Used/ refurbished goods without invoices and household goods shall be the declared value amount as indicated on the valued inventory list.

5. Duration: Coverage is valid during shipment transit and begins when the shipment is picked up and ends when the shipment is delivered.  Coverage is provided  warehouse to warehouse / door to door.

6. Warehouse to Warehouse / Door to Door: This insurance attaches from the time the goods leave the Warehouse and/or location named in the certificate of insurance for the commencement of the transit and continues during the ordinary course of transit, including customary transshipment if any, until the goods are discharged at the final destination. Thereafter the insurance continues whilst the goods are in transit and/or awaiting transit until delivered to the final location at the destination named in the certificate of insurance or until the expiry of 15 days (or 30 days if the destination to which the goods are insured is outside the limits of the port) whichever shall first occur.

The time limits referred to above to be reckoned from midnight of the day on which the discharge of the goods hereby insured from the carrying conveyance is completed. Held covered at a premium to be arranged in the event of transshipment, if any, other than as above and/or in the event of delay in excess of the above time limits arising from circumstances beyond the control of the Assured.

7. TOTAL LOSS / F.P.A Terms and Conditions of Coverage

Shipments by land, air or ocean insured under F.P.A (total loss) terms are warranted free from particular average (partial loss) unless the carrying conveyance be stranded, sunk or burnt, but notwithstanding this warranty these Assurers are to pay any loss of or damage to the interest insured which may reasonably be attributed to fire, collision or contact of the vessel and/or craft and/or conveyance with any external substance ice (included) other than water, or to discharge of cargo at port of distress. This clause, however, shall not apply when broader terms of coverage are selected and provided for herein as indicated on the certificate of insurance issued.

8. BASIC RISK Terms and Conditions of Coverage

Land Shipments: Shipments by land are insured to cover goods while on docks, wharves or elsewhere on shore/land and or during transportation, it shall include the risks of collision, derailment, overturning or other accident to the conveyance, fire, lightening, sprinkler leakage, cyclones, hurricanes, earthquakes, floods (meaning the rising of navigable waters), and /or collapse or subsidence of docks or wharves. Coverage for partial loss if amounting to three percent of the shipment. Including theft or non delivery of the entire shipment.

Air Shipments: shipments by aircraft are insured against loss or damage caused by: fire, collision of aircraft with the ground, water or any object on or in the ground or water or in the air, including fire or explosion resulting from such a collision; stranding or sinking of the aircraft following a voluntary landing on water, jettison, assailing thieves, barratry of the master and crew. Coverage for partial loss provided if amounting to three percent of the shipment. Including theft or non-delivery of the entire shipment. Warranted free of claim for loss or damaged due to heat or cold changes in atmospheric pressure.

Ocean Shipments: Shipments by boat/vessel are insured against loss or damage to the interest insured which may reasonably be attributed to fire, collision or contact of the boat/vessel with any external substance (ice included) other than water, or to discharge of cargo at port of distress. Coverage for partial loss if amounting to three percent of the shipment. Warranted Free of Particular Average unless the vessel or craft be stranded, sunk, or burnt.  Including theft or non-delivery of entire shipment.

The above coverage terms shall not apply when broader all risk terms of coverage are selected and provided for herein as indicated on the certificate of insurance issued. 

            9. ALL RISK - Terms and Conditions of Coverage

Shipments by land, air or ocean are insured against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks excluded by the F.C. & S Nuclear Exclusion warranty of this policy and subject to the standard policy terms herein and any applicable special commodity terms and deductibles as listed below:

Special Commodity Terms & Deductibles

9. 1) Automobiles & Motorcycles All Risk Special Terms:

Personal vehicles LESS THAN 5 Years Old: are insured: Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks excluded by the F.C. & S., Nuclear Exclusion warranty of this policy. No coverage shall be granted hereunder while any vehicle is being operated under its own power. Deductible: Each claim shall be subject to a deductible of 3 (three) percent of insured value but subject to a minimum deductible of $500.00 (Five Hundred Dollars), and as respects vehicle shipments, each claim shall be subject to a deductible of 3 (three) percent of insured value but subject to a minimum deductible of $500.00 (Five Hundred Dollars) each vehicle
separately insured.

Personal vehicles OVER 5 years old: are insured under the used household Goods category and subject to the deductible selected (either $300.00, $500,00 or $1000.00) and subject to the following terms: With respect to insurance for all vehicles the following liabilities are not covered: scratches, marks, dents, marring, rust, oxidation, or discoloration, also permanently installed accessories in the vehicle including but not limited to radios, cassette recorders, CD players, speakers, VCR's, and any other personnel effects shipped inside the vehicle and or its trunk area even if locked. Insurers' will not be liable for any damages resulting from the loading or stacking of goods on the vehicle. No coverage shall be granted hereunder while any vehicle is being operated under its own power.

9. 2) Household Goods/Personal Effects All Risk Special terms:
Shipments of household goods and personal effects are insured against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks excluded by the F.C.& S. Nuclear Exclusion warranty of this policy.

Valued Inventory list: All shipments of household goods and/or personal effects must be accompanied by an itemized inventory list showing value per item. This valued inventory list will be required in the event of a claim.

High Valued Items - Any insured item or set having a value in excess of $500.00 USD, must be individually indentified on the shipping inventory and the insured (actual) value of the item must be reported thereon. Any failure to specifically report an insured item with a value in excess of $500.00 USD will limit the Insurers liability for loss or damage to that item or set to the actual value of the item or set to $500.00 USD whichever is less.

Exclusions: This insurance does not cover:

a) loss of or damage arising out of or resulting from moths, vermin, mould, mildew, wear and tear, unexplained mysterious disappearance, mechanical or electrical derangement, changes in climatic conditions, inherent vice, delay, infestation of rodents or insects, strikes, riots and civil commotions, acts of war, rebellion, nuclear reaction, radiation, acts of Governments, Customs authorities, confiscation, losses in market value, or any form of consequential loss howsoever arising;

b) jewelry, furs, currency, documents, valuable, negotiable papers, coins or stamp collections, alcohol and beverages, computer programs, software, and media, items of no market value, such as, but not limited to, photographs, family albums, newspaper clippings, letters, plants and flowers;.

c) breakbulk cargo;

d) loss and or damage from wetting and or rust, oxidation and discoloration and or dry cleaning expenses unless caused by an insured peril.

Automobiles - With respect to insurance for all vehicles the following liabilities are not covered: scratches, marks, dents, marring, rust, oxidation, or discoloration, also permanently installed accessories in the vehicle including but not limited to radios, cassette recorders, CD players, speakers, VCR's, and any other personnel effects shipped inside the vehicle and or its trunk area even if locked. Insurers' will not be liable for any damages resulting from the loading or stacking of goods on the vehicle.

Evidence Clause:
a. Acceptance by the Insured (or Insured's agent) of the shipment without written notation of specific visible damage or loss on the carrier's delivery documents at the time of delivery shall be evidence that the shipment had been delivered complete and in good order and condition for which no insurance claim shall result. Insurers' shall have no liability for any damage or loss which is not specifically noted in writing on the transporters delivery documents.

b. It is a condition of this insurance that recovery for visible damage, loss is limited to for only those items specifically noted as damaged loss on the carrier's delivery documents at the time of delivery.

c. Any and all claims including those for concealed loss, damage must be reported to Insurer within 15 days of the goods arrival at destination as indicated in the certificate or if a storage extension has been secured from Insurers, within 15 days of delivery from the storage facility. Failure to provide written notice of claim within 15 days may, at Insurers' sole discretion, void any claim.

Repairs - Insurers' shall be entitled in their sole discretion to repair any damaged article. But in no event, will Insurers' responsibility for repair costs be greater than either 30 percent of the declared insured value of the item or the actual repair costs whichever is less.

Percentage of Glass: It is warranted by the Insured that the maximum percentage of glass, china, marble, earthenware and the like shall not exceed 15 percent of the total sum insured. Accordingly, Insurers' liability in this regard will be the actual repair or replacement cost but in no event more than 15 percent of the total insured value of the shipment whichever is less.

Deductible: However, each claim for loss or damage shall be subject to a deductible of $300.00, $500.00 or $1000.00 per occurrence as indicated on the certificate of insurance depending on which option is selected by the insured.

Warranted: Goods must be professionally packed. Warranted that itemized valued inventory to accompany shipment. Warrant containerized. If goods not professionally packed, coverage is changed to Total Loss ( F.P.A ) coverage only.

9. 3) Fine Arts & Antiques All Risk Special terms:
Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks excluded by the F.C. & S., Nuclear Exclusions warranty of this policy.

Deductible: Insured values up to $10,000.00 USD are subject to a $1500.00 USD deductible.  Insured values over $10,000.00-$50,000.00 USD are subject to a $2500.00 USD deductible.

Warranted: Current commercial invoice or current appraisal required in the event of claim. Warrant professionally packed. If commodity not professionally packed, coverage is subject to Total Loss (FPA) terms and conditions only.

9. 4) Fragile Goods All Risk Special Terms: Ceramic, Chinaware, Crystal, Glass Tubes, Glassware, Mirrors, Light Bulbs, Marble and/or Stone Tile of any kind, Porcelain, and Vitreous China (excluding windows, plate glass, blocks, slabs, antiques, works of art, and similar merchandise), properly packed for export, are insured: Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks as are excluded by the F.C. & S. Nuclear Exclusion warranty of this
policy.
Deductible: each claim shall be subject to a deductible of 5 (five)
percent of the insured value of the entire shipment but subject to a
minimum deductible of $500.00 (Five Hundred Dollars). This deductible
shall not apply to claims for total loss or constructive total loss, general
average or salvage charges.

9. 5) Used, Refurbished and / or Rebuilt goods including used and new Computers, TV's and Medical Equipment Special All Risk Terms: used and refurbished goods and new and used computers, Tv's and medical equipment are insured against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks excluded by the F.C. & S., Nuclear Exclusions warranty of this policy.

Warrant professionally packed and containerized. Warrant commodity have a certificate of refurbishment.

If not professionally packed, coverage is changed to Total Loss (FPA) terms and conditions.

The following electronic items are excluded from all risk coverage and are insured under Total Loss (F.P.A) terms: computer components such as memory chips, motherboards, and processors, digital cameras, IPODS, MP3 players and cell phones unless otherwise arranged for special coverage.

Deductible: None

9. 6) Watercraft, Boats & Yachts All Risk Special Terms: Watercraft, boats and yachts both new and used (not more than 3 years old) not exceeding
$50,000.00 in value nor in excess of 30 (thirty) feet in length, are insured: Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks as are excluded by the F.C. & S. Nuclear Exclusion warranty of this policy.

Deductible: Each claim shall further be subject to a deductible of 3 (three) percent of the insured value but subject to a minimum deductible
of $500.00 (Five Hundred Dollars), each boat separately insured. This
deductible shall not apply to claims for total loss or constructive total loss,
general average or salvage charges.

Warranted professionally packed as determined by mode of transportation.

No coverage shall be granted hereunder while the watercraft is being
operated under its own power.

9. 7) Bagged Commodities All Risk Special Terms: Bagged commodities shipped in door-to-door containers and providing so declared prior to shipping and prior to any known or reported loss are insured: Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks excluded by the F.C. & S Nuclear Exclusion warranty of this policy.

Deductible: Each claim shall be subject to a deductible of 3 (three) percent of the insured value of the entire shipment but subject to a minimum
deductible of $500.00 (Five Hundred Dollars). This deductible shall not
apply to claims for total loss, general average or salvage charges.

If not containerized: Warranted free of particular average (partial loss) unless caused by the vessel being stranded, sunk, burnt, on fire or in collision, but including risk of jettison and/or washing overboard, irrespective of percentage.

9. 8) Wines, Liquors, Beers and Similar Spirit All Risk Special Terms:
Alcoholic beverages in approved packing are insured: Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks excluded by the F.C. & S., Nuclear Exclusion warranty of this policy, and excluding loss or damage caused by heat or cold.

Deductible: claims for pilferage and breakage shall be subject to a deductible of 1 (one) percent of the insured value of the entire shipment, but subject to a minimum deductible of $500.00. (Five Hundred Dollars).

9. 9) Frozen/ Chilled Foods and/or Other Frozen/ Chilled Merchandise:
Properly packed for export, shipped under refrigeration in containers or
in a ship's refrigerated holds, are insured: Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks as are excluded as follows: a. the risks excepted by the F.C. & S. Nuclear Warranty incorporated in the conditions of this policy; b. loss or damage due to inherent vice and/or gradual deterioration.

Provided that, notwithstanding the provisions of Exclusion B., while the cargo is stowed in the vessel’s refrigeration chambers and/or in refrigerated containers, this policy covers loss or damage due to or caused by derangement, breakdown or malfunction of the refrigeration machinery and/or refrigeration plant and/or insulation, but only if such derangement, breakdown or malfunction has lasted for a period of at least twenty-four (24) consecutive hours;

Provided further that, notwithstanding the provisions of Exclusion B., this policy covers loss or damage caused by the negligence of any person who has possession or custody of or responsibility for the cargo insured hereunder during the time that this policy is in force;

c. claims for or consequent upon detainment, delay, loss of time or
loss of market, whether arising from a peril insured against or
otherwise.

WARRANTIES: Coverage under the above is conditioned upon the insured’s compliance with the following warranties:
a. It is warranted, that, in the event of transportation by land or inland waterway and/or other connecting conveyances prior to loading on an overseas vessel and/or subsequent to discharge there from, such conveyances be properly equipped for maintaining temperatures required for proper preservation of the cargo insured hereunder.
b. It is warranted that a temperature recording device shall be used in each and every refrigerated container used to transport the covered cargo.
c. Warranted by the Assured that the interest is in sound condition at
the time of commencement of risk.

9. 10) Refrigerated Merchandise All Risk Special Terms: are insured against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks as are excluded by the F.C. & S. Nuclear Exclusion warranty of this policy and excluding rotting, spoilage, deterioration, theft, pilferage and non-delivery.

9. 11) Perishable Merchandise All Risk Special Terms: are insured against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks as are excluded by the F.C. & S. Nuclear Exclusion warranty of this policy and excluding rotting, spoilage, deterioration, theft, pilferage and non-delivery.

9. 12) Steel Products All Risk Special Terms: Steel products properly packed for export are insured: Against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks as are excluded by the F.C. & S. Nuclear Exclusion warranty of this policy, however, excluding the risks of rust, oxidation and discoloration and corrosion.

It is further understood and agreed that in addition to the above, sheets,
coils and similar merchandise shall further be subject to the exclusion of
crimping.

It is further understood and agreed that in addition to the above, non-
containerized shipments of pipe, tubing, rods and similar merchandise
shall further be subject to the exclusions of corrosion, bending, twisting, and end damage.

9. 13) Chemicals and Hazardous Materials All Risk Special Terms: chemicals and hazardous materials are insured against all risks of physical loss or damage from any external cause, irrespective of percentage, but excepting those risks as are excluded by the F.C. & S. Nuclear Exclusion warranty of this policy.

Deductible: None

Warranted: Professionally packed and in enclosed container.
Subject to federal code of regulations.

                      Additional Terms, Conditions and Definitions:

10. Improper Packaging: In no case shall this insurance cover loss, damage or expense caused by insufficiency or unsuitability of packing, packaging or preparation of the subject matter insured (for the purpose of this clause "packing" shall be deemed to include stowage in a container or liftvan but only when such stowage is carried out prior to attachment of this insurance or by the assured or their servants).

11. Inherent Vice: In no case shall this insurance cover loss damage or expense
caused by inherent vice or nature of the subject matter insured.

12. Temperature or atmospheric pressure changes: In no case shall this insurance cover loss, damage or expense caused by changes in temperature or atmospheric pressure (except as may be specifically included elsewhere herein).

13. On Deck of Boat/Vessel Shipments: All goods and/or merchandise shipped while On Deck of ocean vessel under an On Deck bill of lading are insured: Free of Particular Average unless caused by the vessel and/or interest insured being stranded, sunk, burnt, on fire or in collision with another ship or vessel or with ice or with any substance other than water, but liable for jettison and/or washing overboard, irrespective of percentage. The above clause, however, shall not apply where broader all risk terms of coverage are provided for herein.

14. Under Deck of Boat Shipments: All goods and/or merchandise shipped except while On Deck of ocean vessel under an On Deck bill of lading and except as may be hereinafter especially provided, are insured: Warranted free from Particular Average unless the vessel or craft be stranded, sunk, or burnt, but notwithstanding this warranty this Company is to pay any loss of or damage to the interest insured which may reasonably be attributed to fire, collision or contact of the vessel and/or craft and/or conveyance with any external substance (ice included) other than water, or to discharge of cargo at port of distress. The foregoing warranty, however, shall not apply where broader terms of Average are provided for hereinafter.

15. Containerized Shipments: All goods and/or merchandise shipped on board the ocean vessel in containers and/or vans and/or lighters are insured subject to the provisions of this policy applying to Under Deck shipments, provided such goods are subject to an Under Deck or an optional Under Deck/On Deck bill of lading.

16. Perils: Touching the adventures and perils which these Assurers are contended to bear, and take upon themselves, in this voyage, they are of the seas, fires, jettisons, assailing thieves, barratry of the Master and Mariners, and all other like perils, losses and misfortunes that have or shall come to the hurt, detriment or damage of the said goods and merchandise, or any part thereof except as may be otherwise provided for herein or endorsed hereon.

17. Explosions clause: All shipments include the risks of explosion howsoever or whatsoever occurring during the duration of this insurance unless excluded by the F.C. & S nuclear exclusion of this policy.

18. Inchmaree Clause: This insurance is also specially to cover any loss of or damage to the interest insured hereunder, through the bursting of boilers, breakage of shafts or through any latent defect in the machinery, hull or appurtenances, or from faults or errors in the navigation and/or management of the carrying conveyance/ vessel (within the meaning of Section 3 of the Harter Act, 1893) by the master, mariners, mates, engineers or pilots.

19. Delay/Loss of Market: This policy does not cover claims for loss of market or for loss, damage or deterioration arising from delay, whether caused by a peril insured against or otherwise, unless expressly assumed in writing hereon.

20. Carrier Clause: Warranted that this insurance shall not inure, directly or indirectly, to the benefit of any carrier or bailee.

21. Marine Extension Clauses: Notwithstanding anything to the contrary contained in or endorsed on this policy it is understood and agreed that in consideration of premium as agreed, the following terms and conditions shall apply to all shipments which become at risk under this policy.

a. This insurance attaches from the time the goods leave the warehouse at the place named in the special policy or declaration for the commencement of the transit and continues until the goods are delivered to the final warehouse at the destination named in the special policy, or declaration, or a substituted destination as provided in Clause c. hereunder.

b. This insurance specially to cover the goods during: (1) deviation, delay, forced discharge, re-shipment and transshipment.(2) any other variation of the adventure arising from the exercise of a liberty granted to the ship-owner or charterer under the contract of affreightment.

c. In the event of the exercise of any liberty granted to the ship-owner or charterer under the contract of affreightment whereby such contract is terminated at a port or place other than the original insured destination, the insurance continues until the goods are sold and delivered at such port or place; or, if the goods be not sold but are forwarded to the original insured destination or to any other destination this insurance continues until the goods have arrived at final warehouse as provided in Clause a.

d. If while this insurance is still in force and before the expiry of 15 days from midnight of the day on which the discharge over side of the goods hereby insured from the overseas vessel at the final port of discharge is completed, the goods are re-sold (not being a sale within the terms of Clause a) and are to be forwarded to a destination other than that covered by this insurance, the goods are covered hereunder while deposited at such port of discharge until again in transit or until the expiry of the aforementioned 15 days whichever shall first occur. If a sale is effected after the expiry of the aforementioned 15 days while this insurance is still in force the protection afforded hereunder shall cease as from the time of the sale.

e. Held covered at a premium to be arranged in case of change of voyage or of any omission or error in the description of the interest, vessel or voyage.

f. This insurance shall in no case be deemed to extend to cover loss, damage or expense proximately caused by delay or inherent vice or nature of the subject-matter insured.

g. It is a condition of this insurance that there shall be no interruption or suspension of transit unless due to circumstances beyond the control of the Assured.

All other terms and conditions of the policy not in conflict with the foregoing remain unchanged, it being particularly understood and agreed that F.C. & S. clause remains in full force and effect, and that nothing in the foregoing shall be construed as extending this insurance to cover any risks of war or consequences of hostilities.

22. BRANDS: In case of damage to property bearing a Brand or Trade Mark, or the sale of which carries or implies a guarantee of the supplier or Assured, the salvage value of such damaged property shall be determined after the removal of all Brands or Trade Marks.

23. MACHINERY CLAUSE: When the property insured under this policy includes a machine consisting when complete for sale or use of several parts, then in case of loss or damage covered by this insurance to any part of such machine, these Assurers shall be liable only for the proportion of the insured value of the part lost or damaged, or at the Assured's option, for the cost and expense, including labor and forwarding charges, of replacing or repairing the lost or damaged part; but in no event shall these Assurers be liable for more than the insured value of the complete machine.

24. GENERAL AVERAGE CLAUSE: General Average and Salvage Charges payable according to United States laws and usage and/or as per Foreign Statement and/or as per York-Antwerp Rules (as prescribed in whole or in part) if in accordance with the Contract of Affreightment. Failing any provision in or should there be no Contract of Affreightment, payable in accordance with the Laws and Usages of the Port of New York.

This policy shall pay in full (up to this policy's limit of liability) a claim for General Average or Salvage Charges even though the sum insured may be less than the contributing value or actual value of the goods.

25. CLAIMS:

a. Notice to Us: It is a condition precedent to coverage that You will give Us, as soon as practicable, written notice of any circumstances of which any of You or any of Your Directors, Officers, Senior Management, or employees become aware, which has given, or may give rise to a claim under this Policy. You may comply with this obligation by ensuring that notice is given to Your local surveyor's or claims agent's office.

b. Notice to potentially responsible parties & Claims against 3rd parties:
It is a condition precedent to coverage that You provide timely statutory or contractual notice, as the case may be, to all parties potentially responsible for any circumstances of which any of You or any of Your Directors, Officers, Senior Management, or employees become aware, which has given, or which may give rise to a claim under this Policy.

c. If You fail to comply with the requirements of Clauses a. or b: and thereafter accept in writing that such failure releases the carrier from liability, then We may at Our discretion agree to provide a partial indemnity. The partial indemnity shall not exceed Our estimate of the amount that would have been due if immediate notice had been given in accordance with Clauses a. and b.

d. You will keep Us fully informed of all facts and make available documents within Your custody, possession, or power, in connection with any claim or circumstance which may give rise to a claim under this policy. You will allow Us to take copies (including in digital format) of all such documents and allow access to Your computer software and hardware to the extent necessary.
 
e. You will allow Us and Our agents to interview any person who is, or was Your Director, Officer, Employee, Manager or Agent in connection with any claim or circumstance which may give rise to a claim under this policy. As regards any person who was a Director, Officer, Employee, Manager or Agent, You will use Your best efforts to secure their co-operation.

f. In no circumstances whatsoever shall We be obliged to issue bonds or guarantees, save for General Average or Salvage Guarantees, as may have been agreed by Us.

26. RIGHTS OF SUBROGATION:
a. You must take all necessary steps to preserve and pursue rights of recovery that may inure to Our benefit. If You obtain Our prior written approval of the steps to be taken, We will reimburse expense incurred by You in fulfilling Your obligations under this sub-clause. If requested by Us, You must assign such rights of recovery to Us.

b. We are entitled to the benefit of any actual and potential recoveries from third parties who, whether through a civil wrong or breach of contract, may have caused or contributed to a claim recoverable under this Policy.

c. If any recovery is made prior to settlement of Your claim, We shall be entitled to take credit for the recovery in arriving at Our liability.

d. All recoveries and potential recoveries shall be held in trust first for the payment of reasonable legal fees incurred in making the recovery, then for Our benefit and finally for Your benefit.

e. In apportioning the benefit of any recovery, the following principles will apply:

(1) Interest shall be applied to all relevant sums (including Policy limits, deductibles and all sums already paid by any of the parties) at the Central Bank Lending Rate for the currency concerned, in order to attribute to them a value as at the date of the recovery. The resulting figures shall be the basis of the following calculation and distribution.
(2) Your claim shall be re-calculated as though it were first to be paid on the day following the date of the recovery and appropriate payments shall be made to reflect the re-calculation. In no circumstances however shall the making of a recovery result in Our having to make any additional payment to You.

f. You shall not, without Our prior written consent, give any waiver of subrogation to any person not an Insured.

27. PARTIAL LOSS: In all cases of damage caused by perils insured against, the loss shall as far as practicable, be ascertained by a separation and a sale or appraisement of the damaged portion only.

28. DUTIES OF THE INSURED: You warrant that all goods insured under this policy and under your care, custody and control shall be:

a. kept free from damage or injury from dampness, change of flavor or being spotted, discolored, musty or moldy, except when caused by actual contact of sea water with the articles damaged, occasioned by sea perils unless (by endorsement hereon or by additional terms inserted in paragraph No. 4 hereof) this insurance has been expressly extended to include such losses.

b. any vessel to be loaded at any United States Port with grain in bulk is to be loaded in accordance with the regulations of the United States Coast Guard and under the inspection of a surveyor appointed by the National Cargo Bureau, Inc. or a surveyor appointed by these Assurers and such surveyor(s) shall issue a certificate of compliance with the regulations, or the insurance under this policy shall not attach.

c. You will use Your best efforts to ensure that at all times your agents, contractors, sub-contractors and co-venturers have relevant expertise and are reliable, honest and credit-worthy and maintain insurance or other financial resources commensurate with the risks they face.

d. You will at all times act in a prudent and business like manner and as if uninsured.
If any of You breach any of the above warranties a.-d., We shall be entitled to reduce any claim to the extent that We reasonably consider that Your breach has caused, contributed to, or aggravated a claim made against Us.

e. You will declare to these Assurers all shipments coming within the terms and conditions of this Policy, on the date of receiving advice thereof, or as soon thereafter as may be practicable, and to pay the premiums thereon monthly. Willful failure to so declare or to pay premiums when due shall (at the option of these Assurers) render this Policy null and void as and from the date of such failure.

f. You will notify Us of any increase in the risk immediately as You become aware of it, unless We agree otherwise.

(1) You must also give written details of the increase within 7 days of becoming aware of it.
(2) If the increase is material, We will alter the terms of this Policy to reflect the increased risk.
(3) If You fail to provide immediate notice and the increase is material, We will not be liable for any loss, damage, liability or expense that would have been excluded, if the increase in the risk had been excluded from the time We should have been notified.

g. You will not mislead Us, or attempt to do so, whether in connection with the negotiation of this Policy or any variation, extension, or renewal of it or in connection with a claim. Should you do so, we shall be entitled to declare this Policy void. In such a case, We will not be obliged to pay any further claims to any of You and will be entitled to recover from each of You in respect of any claims previously paid. For the purpose of this clause, “mislead” includes making a misrepresentation or concealing material facts.

29. SUE AND LABOR: In case of any actual loss or misfortune, it shall be lawful and necessary to and for the Assured, his or their factors, servants and assigns, to sue, labor and travel for, in and about the defense, safeguard and recovery of the goods and merchandise, or any part thereof without prejudice to this insurance; nor shall the acts of the Assured or this Assurer in recovering, saving and preserving the property insured in case of disaster be considered a waiver or an acceptance of abandonment. To the charges associated with sue and labor, this Assurer will contribute according to the rate and quantity of the sum hereby insured.

30. OTHER INSURANCE: In case the interest hereby insured is covered by other insurance (except as hereinafter provided) the loss shall be collected from several policies in the order of the date of their attachment, insurance attaching on the same date to be deemed simultaneous and to contribute pro rata. However, where any fire insurance, or any insurance (including fire) taken out by any carrier or bailee is available to the beneficiary of this policy, or would be so available if this insurance did not exist, then this insurance shall be void to the extent that such other insurance is or would have been available. It is agreed, nevertheless, that where these Assurers are thus relieved of liability because of the existence of other insurance, these Assurers shall receive and retain the premium payable under this policy and, in consideration thereof, shall guarantee the solvency of the companies and/or underwriters who issued such other insurance and the prompt collection of the loss there under to the same extent (only) as these Assurers shall have been relieved of liability under the terms of this clause, but not exceeding, in any case, the amount which would have been collectible under this policy if such other insurance did not exist.

31. WHAT LAW GOVERNS:
This Policy is to be interpreted in accordance with New York law.

32. JURISDICTION AND ARBITRATION / SUIT OR ACTION:
a. Any claim by Us for premium due may be made at Our option, either under the Arbitration Clause below, or in any Court having jurisdiction over You. You submit to the jurisdiction of the New York state court in New York City as regards such claims.

b. Subject to the above sub-clause, any controversy or claim arising out of or relating to this Policy (including disputes about its formation or retrospective termination), or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association. Judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. The arbitration shall proceed in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and New York law shall apply.

c. No action against this Assurer for the recovery of any claim by virtue of this insurance shall be sustained unless commenced within 1 (one) year from the date of the happening out of which the claim arises, provided that if such limitation is not valid by the law of the place where the policy is issued then such action or proceeding shall be barred unless commenced within the shortest limit of time permitted by the laws of such state.

33. PAIRS & SETS CLAUSE: In consideration of premium as agreed, should loss, damage, or destruction which is covered by this policy occur to any portion of an assortment or set which renders the undamaged part or parts unmerchantable as a complete assortment or set, this Company shall pay the difference between the insured value of the complete shipment and the value realized from sale of the undamaged portions. This Company may, at its option, require the Assured to surrender such remaining portion to this Company upon payment for the same.

It is warranted that the assured will exert all reasonable effort to rematch the undamaged goods, at the same expense of this Company, in order that the undamaged part or parts be once again merchantable, but in no way is the cost of rematching the goods to exceed the amount to be paid under this clause. Notification of loss covered by this clause to be made as soon as practicable from the time the goods are delivered to the Assured’s premises or the premises of the Assured’s Agent.

This Company shall not be liable for more than the insured value of the undamaged goods in respect to any one loss. In no event shall any loss exceed the applicable limits of liability under this Policy.

34. FUMIGATION: In the event of a conveyance or location, being fumigated and loss or damage to the Assured’s goods results there from, this Assurer agrees to indemnify the Assured for such loss or damage and the Assured agrees to subrogate to this Assurer any recourse that the Assured may have for recovery of such loss or damage from others.

35. DELIBERATE DAMAGE – POLLUTION HAZARD: This policy covers, but only while the goods insured are on board a waterborne conveyance, loss of or damage to said goods 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 the policy terms, conditions and warranties) if the goods insured would have sustained physical loss or damage as a direct result of such accident or occurrence.

This coverage shall not increase the Limits of Liability provided for in Clause 13.
 

36. DELIBERATE DAMAGE – CUSTOMS SERVICE: This insurance also covers (notwithstanding the Free of Capture and Seizure warranty contained in this policy) physical loss or damage to the goods insured arising out of the performance of inspection duties while in the care, custody or control of a duly authorized governmental agency or Customs Service while performing inspection duties.

37. CONTAINER DEMURRAGE: This policy also covers demurrage charges and/or late penalties, subject to STANDARD TERMS AND CONDITIONS, assessed against, and paid by, the Assured for late return of containers when said containers are retained by the Assured at the instruction of the Assurers for inspection by an appointed surveyor in investigation of loss or damage recoverable under the policy.

38. TERMINATION OF TRANSIT CLAUSE (TERRORISM) U.S.A.: This clause shall be paramount and shall override anything contained in this policy or any of its endorsements inconsistent therewith.

1. Notwithstanding any provision to the contrary contained in this policy, its endorsements, or the clauses referred to therein, it is understood and agreed that in so far as this policy covers loss of or damage to the subject matter insured directly caused by the act or acts of one or more persons, whether or not agents of a sovereign power, carried out for political, terroristic or ideological purposes and whether any loss, damage or expense resulting there from is accidental or intentional, 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 Warehouse to Warehouse clause contained within the policy; or 1.2 on delivery to the Consignee’s or other final warehouse or place of storage at the destination named herein,
1.3 on delivery to any warehouse or place of storage, whether prior to or at the destination named herein, which the Assured elect to use either for storage other than the ordinary course of transit or for allocation or distribution,
or 1.4 in respect of marine transits, on the expiry of 60 days after completion of discharge overside of the goods hereby insured from the overseas vessel at the port of discharge,
1.5 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,

whichever shall first occur.

2. If this policy, its endorsements, 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 1 above.
3. This clause is subject to English law and customs, except in the United States and its possessions where the law and customs of the United States will prevail.

39. AIMU U.S. ECONOMIC AND TRADE SANCTIONS CLAUSE: Whenever coverage provided by this policy would be in violation of any U.S. economic or trade sanctions such as, but not limited to, those sanctions administered and enforced by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”), such coverage shall be null and void.

Similarly, any coverage relating to or referred to in any certificates or other evidences of insurance or any claim that would be in violation of U.S. economic or trade sanctions as described above shall also be null and void.

40. TERRORISM EXCLUSION CLAUSE: This Policy excludes any loss, damage, liability or expense arising from:

a. Terrorism; and or
b. Steps taken to prevent, suppress, control or reduce the consequences of any actual, attempted, anticipated, threatened, suspected or perceived terrorism.

For the purpose of this clause, “terrorism” means any act(s) of any person(s) or organization(s) involving:

1. The causing, occasioning or threatening of harm of whatever nature and by whatever means;
2. Putting the public or any section of the public in fear,

In circumstances in which it is reasonable to conclude that the purpose(s) of the person(s) or organization(s) concerned are wholly or partly of a political, religious, ideological or similar nature.

Notwithstanding the foregoing, this exclusion shall not be applicable to the following:

a. vessels, crafts and units afloat, under construction or repair, in dock or whilst in store ashore.
b. Seawalls, wharves, piers, jetties, docks, berths, pontoons, and associated dockside equipment all whilst in the confines of the port, terminal, shipyard, harbor or marina.
c. Offshore platforms whilst exploring, drilling or producing including all associated construction operations.
d. Cargo in the ordinary course of transit per Joint Cargo Committee Termination of Transit Clause (Terrorism) JC2001/056 or Termination of Transit Clause (Terrorism) U.S.A.

41. South American Clause: It is hereby mutually understood and agreed that the following Clause will apply to all shipments insured in U.S. Currency and shipped to South America. Notwithstanding anything contained elsewhere herein to the contrary (particularly the Warehouse to Warehouse and Marine Extension Clauses) the insurance provided hereunder shall continue to cover for sixty (60) days (ninety [90] days on shipments via the Magdalena River) after completion of discharge of the overseas vessel at port of destination or until the goods are delivered to the final warehouse at destination, whichever may first occur, and shall then terminate.

The time limit referred to above to be reckoned from midnight of the day on which the discharge of the overseas vessel is completed.

42. F.C. & S. Warranty & Nuclear Exclusions

A) NUCLEAR EXCLUSION: NOTWITHSTANDING ANYTHING HEREIN CONTAINED TO THE CONTRARY, INCLUDING BUT NOT LIMITED TO IN THE EVENT THAT THIS POLICY IS EXTENDED TO COVER PROPERTY PRIOR TO THE ATTACHMENT OR SUBSEQUENT TO THE EXPIRATION OF THE COVER PROVIDED BY THE MARINE EXTENSION CLAUSES, THIS INSURANCE DOES NOT COVER LOSS, DAMAGE OR EXPENSE RESULTING FROM:  any claim for loss, damage or expenses arising directly or indirectly from any nuclear incident, reaction, radiation or any radioactive contamination, all whether controlled or uncontrolled, occurring while said property is within the United States or any territory of the United States, the Canal Zone or Puerto Rico, or arising from a source therein, and whether the loss, damage or expense be proximately or remotely caused thereby, or be in whole or in part caused by, contributed to, or aggravated by the peril(s) insured against in this Policy. However, subject to the foregoing and all provisions of this Policy, if this Policy insures against the peril of fire, then direct loss by fire resulting from nuclear incident, nuclear reaction, or nuclear radiation or radioactive contamination is insured against by this Policy.

B) INSTITUTE EXTENDED RADIOACTIVE CONTAMINATION EXCLUSION CLAUSE 01/11/02:  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 ionizing 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 contaminating properties of any radioactive matter. The 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.

CL356A

C) INSTITUTE CHEMICAL, BIOLOGICAL, BIO-CHEMICAL, ELECTROMAGNETIC WEAPONS AND CYBER ATTACK EXCLUSION CLAUSE 01/11/02

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 or contributed to by or arising from: 1) any chemical, biological, bio-chemical or electromagnetic weapon and 2) the use or operation, as a means for inflicting harm, of any computer, computer system, computer software program, computer virus or process or any other electronic system.
 

D) F.C. & S. Warranty: NOTWITHSTANDING ANYTHING HEREIN
CONTAINED TO THE CONTRARY THIS INSURANCE DOES NOT COVER LOSS, DAMAGE OR EXPENSE RESULTING FROM:

(1) capture, seizure, arrest, restraint, detainment, confiscation, preemption,
requisition or nationalization, and the consequences thereof or any attempt thereat, whether in time of peace or war and whether lawful or otherwise;

(2) (i) any weapon or war employing atomic or nuclear fission and/or fusion or other reaction or radioactive force or matter or (ii) any mine or torpedo;

(3) hostilities or warlike operations (whether there be a declaration of war or not), but this warranty shall not exclude collision or contact with aircraft, or with rockets or similar missiles (other than weapons of war) or with any fixed or floating object (other than mine or torpedo), stranding, heavy weather, fire or explosion unless caused directly (and independently of the nature of the voyage or service which the vessel concerned or, in the case of a collision, any other vessel involved therein, is performing) by a hostile act by or against a belligerent power; and for the purposes of this warranty "power" includes any authority maintaining naval, military or air forces in association with a power;

(4) civil war, revolution, rebellion, insurrection, or civil strife arising there from; or from the consequences of the imposition of martial law, military or usurped power; or piracy.
 

Endorsements / Extended Coverage:

43. War Risk policy:

This war coverage policy applies to all Shipments insured under All Risk coverage: