1/1/09

RISKS COVERED

Risks

INSTITUTE CARGO CLAUSES (A)

1. This insurance covers all risks of loss of or damage to the subject-matter insured except as excluded by the

provision s of Clauses 4, 5, 6 and 7 below.

General Average

2. This insurance covers general average and salvage charges, adjusted or determined according to the contract

of carriage 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 below.

"Both to Blame Collision Clause"

3. This insurance indemnifies the Assured, in respect of any risk insured herein, against liability incurred under

any Both to Blame Collision Clause in the contract of carriage. In the event of any claim by carriers under

the said Clause, the Assured agree to notify the Insurers who shall have the right, at their own cost and

expense, to defend the Assured against such claim.

EXCLUSIONS

4. In 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 insufficiency or unsuitability of packing or preparation of the subject-

matter insured to withstand the ordinary incidents of the insured transit where such packing or

preparation is carried out by the Assured or their employees or prior to the attachment of this insurance

(for the purpose of these Clauses "packing" shall be deemed to include stowage in a container and

"employees" shall not include independent contractors)

4.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured

4.5 loss damage or expense caused by delay, even though the delay be caused by a risk insured against

(except expenses payable under Clause 2 above)

4.6 loss damage or expense caused by insolvency or financial default of the owners managers charterers or

operators of the vessel where, at the time of loading