ITC Clause

6. Perils.

6.1. This insurance covers loss of or damage to the subject-matter insured caused by

6.1.1. perils of the sea rivers lakes or other navigable waters

6.1.2. fire, explosion

6.1.3. violent theft by persons from outside the Vessel

6.1.4. jettison

6.1.5. piracy

6.1.6. contact with land conveyance, dock or harbour equipment or installation

6.1.7. earthquake volcanic eruption or lightning

6.1.8. accident in loading discharging or shifting cargo or fuel

6.2. This insurance covers loss of or damage to the subject-matter insured caused by

6.2.1. bursting of boilers breakage of shafts or any latent defect in the machinery or hull

6.2.2. negligence of Master Crew or Pilots

6.2.3. negligence of repairers or charterers provided such repairers or charterers are not an Assured hereunder

6.2.4. barratry of Master Officers or Crew

6.2.5. contact with aircraft, helicopters or similar objects, or objects falling therefrom

provided that such loss or damage has not resulted from want of due diligence by the Assured, Owners, Managers or Superintendents or any of their onshore management.

6.3. Master Officers Crew or Pilots not to be considered Owners within the meaning of this Clause 6 should they hold shares in the Vessel.

7. Pollution Hazard.

This insurance covers loss of or damage to the Vessel caused by any governmental authority acting under the powers vested in it to prevent or mitigate a pollution hazard or damage to the environment, or threat thereof, resulting directly from damage to the Vessel for which the Underwriters are liable under this insurance, provided that such act of governmental authority has not resulted from want of due diligence by the Assured, Owners or Managers to prevent or mitigate such hazard or damage, or threat thereof. Master Officers Crew or Pilots not to be considered Owners within the meaning of this Clause 7 should they hold shares in the Vessel.

8. 3/4th Collision Liability.

8.1. The Underwriters agree to indemnify the Assured for three-fourth of any sum or sums paid by the Assured to any other person or persons by reason of the Assured becoming legally liable by way of damages for

8.1.1. loss of or damage to any other vessel or property on any other vessel

8.1.2. delay to or loss of use of any such other vessel or property thereon

8.1.3. general average of, salvage of, or salvage under contract of, any such other vessel or property thereon,

where such payment by the Assured is in consequence of the Vessel hereby insured coming into collision with any other vessel.

8.2. The indemnity provided by this Clause 8 shall be in addition to the indemnity provided by the other terms and conditions of this insurance and shall be subject to the following provisions:

82.1. where the insured Vessel is in collision with another vessel and both vessels are to blame, then unless the liability of one or both vessels becomes limited by law, the indemnity under this Clause 8 shall be calculated on the principle of cross-liabilities as if the respective Owners had been compelled to pay to each other such proportions of each others damages as may have been properly allowed in ascertaining the balance of sum payable by or to the Assured in consequence of the collision,

8.2.2. in no case shall the Underwriters total liability under Clauses 8.1. and 8.2. exceed their proportionate part of three-fourths of the insured value of the Vessel hereby insured in respect of any one collision.

8.3. The Underwriters will also pay three-fourths of the legal costs incurred by the Assured or which the Assured may be compelled to pay in contesting liability or taking proceedings to limit liability, with the prior written consent of the Underwriters. Exclusions

8.4. Provided always that this Clause 8 shall in no case extend to any sum which the Assured shall pay for or in respect of

8.4.1. removal or disposal of obstructions, wrecks, cargoes or any other thing whatsoever;

8.4.2. any real or personal property or thing whatsoever except other vessels or property on other vessels

8.4.3. the cargo or other property on, or the engagements of, the insured Vessel;

8.4.4. loss of life, personal injury or illness;

8.4.5. pollution or contamination, or threat thereof, of any real or personal property or thing whatsoever (except other vessels with which the insured Vessel is in collision or property on such other vessels) or damage to the environment, or threat thereof, save that this exclusion shall not extend to any sum which the Assured shall pay for or in respect of any salvage remuneration in which the skill and efforts of the salvors in preventing or minimising damage to the environment as is referred to Article 13 paragraph 1 (b) of the International Convention on Salvage, 1989 have been taken into account.

9. Sistership

Should the Vessel hereby insured come into collision with or receive salvage services from another vessel belonging wholly or in part to the same Owners or under the same management, the Assured shall have the same rights under this insurance as they would have were the other vessel entirely the property of Owners not interested in the Vessel hereby insured; but in such cases the liability for the collision or the amount payable for the services rendered shall be referred to a sole arbitrator to be agreed upon between the Underwriters and the Assured.

10. General Average and Salvage

10.1. This insurance covers the Vessels proportion of salvage, salvage charges and/or general average, reduced in respect of any under-insurance, but in case of any general average sacrifice of the Vessel the Assured may recover in respect of the whole loss without first enforcing their right of contribution from other parties.

10.2. Adjustment to be according to the law and practice at the place where adventure ends, as if the contract of affreightment contained no special terms upon the subject; but where the contract of affreightment so provides the adjustment shall be according to the York-Antwerp Rules.

10.3. When the Vessel sails in ballast, not under charter, the provisions of the York-Antwerp Rules, 1994 (excluding Rules XI (d), XX and XXI) shall be applicable, and the voyage for this purpose shall be deemed to continue from the port or place of departure until the arrival of the Vessel at the first port or place thereafter other than a port or place of refuge or a port or place of call for bunkering only. If at any such intermediate port or place there is an abandonment of the adventure originally contemplated the voyage shall thereupon be deemed terminated.