Institute Additional Perils Clauses - Hulls 1/10/83

Question 1

Institutional Additional Perils Clauses – Hulls 1/10/83

Answer 1

1 In considerations of an additional premium this insurance is extended to cover

1. 1 The cost of repairing or replacing
2. 1.1 any boiler which bursts or shaft which breaks
3. 1.2 any defective part which has caused loss or damage to the Vessel covered by clause 6.2.2. of the Institute Time Clauses – Hulls 1/10/83
4. 2 loss of or damage to the Vessel caused by any accident or negligence, incompetence or error of judgement of any person whatsoever.

2 Except as provided in 1.1.1 and 1.1.2, nothing in these Additional Perils Clauses shall allow any claim for the cost of repairing or replacing any part found to be defected as a result of a fault in error or design or construction and which has not caused loss of or damage to the vessel

3 The cover provided in Clause 1 is subject to all other terms, conditions and exclusions contained in this insurance and subject to the proviso that the loss or damage has not resulted from want of due diligence by the Assured, Owners or Managers. Master Officers Crew or Pilots not to be considered Owners within the meaning of this Clause should they hold shares in the Vessel.