PICC P&C DTV HULL CLAUSES 1978

(As amended in April 1984)

(Original text in German which shall take precedence)

1 Relationship to the German General Rules of Marine Insurance (ADS)

The DTV Hull Clauses take precedence over the ADS.

2 Period of Insurance

2.1 The insurance commences and expires on the dates mentioned. This applies also to a vessel which is en route at the time when the insurance expires in accordance with Article 68 ADS.

2.2 The Assured may, however, submit a declaration to Underwriters before expiry of the insurance to the effect that the insurance be extended in the event that the vessel is en route when the insurance expires and sustains indemnifiable damage impairing her seaworthiness.

The extension expires as soon as the repairs have been carried out or - if repairs are not carried out immediately - when the damage has been ascertained.

3 Insurable Value

The agreed hull valuation shall be considered as the insurable value and comprises the vessel, the mechanical equipment, appurtenances and installations.

4 Appurtenances and Installations

4.1 Appurtenances are included in the insurance even if these are not the property of the Assured.

4.2 Equipment is covered against partial loss or damage only if caused by fire or explosion.

5 Parts removed from the vessel

Parts of the insured vessel and her appurtenances, which are temporarily removed from the vessel, remain insured. Any other existing insurance shall take precedence over this insurance.

6 Insurances on Disbursements and Freight

6.1 Additional insurances for shipowner”s account are permitted as follows: up to 15 % of the hull valuation on disbursements and equipment and up to 20 % of the hull valuation on freight.

Amounts insured on equipment and freight not at risk shall be deemed to be covered on disbursements.

6.2 In the event of total loss, Underwriters are entitled to demand a declaration of all additional insurances taken out for shipowner”s account.

6.3 If additional insurances are covered for higher amounts than those permitted above,

Underwriters are discharged from liability in respect of these higher amounts in the event of total loss.

7 Trading Warranties (according to agreement)

7.1 European Trading

The insurance applies to voyages between all European places and all places in the

Mediterranean and Black Sea, limited to the north by the 70 th degree Lat. N., excluding Greenland, but including direct voyages to and from Kirkenes and Murmansk and voyages to and from the White Sea, provided that on the outward voyage the vessel does not pass Honnigsvaag prior to the 10th May and does not commence the return voyage from the last port of call at White Sea after the 31st October, to the south by the Atlantic Coast of Africa up to and including Casablanca, to the west by and including Iceland, but excluding the Canary Islands and the Azores.

7.2 Worldwide Trading

The insurance applies to voyages to and from all places. Excluded, however, are voyages

1. north of 70° Lat.N. except voyages direct to and from Kirkenes and Murmansk and voyages to and from the White Sea provided that on the outward voyage the vessel does not pass Honnigsvaag prior to the 10th May and does not commence the return voyage from the last port of call at the White Sea after the 31st October,

2. to and from Greenland,

3. south of 50° Lat.S. except voyages to and from places in the Argentine, Chile and

Falkland Islands and voyages to and from places of the permitted trading area,

4. North America :

at the Atlantic Coast north of 52° 10” Lat.N. and west of 50° Long.W., south of 52° 10” Lat.N. in the area within thelines Battle Harbour / Pistolet Bay; Cape Ray / Cape North; Port Hawkesbury/ Port Mulgrave an