INSTITUTE TIME CLAUSES HULL PERILS COVERED COMPARISONS
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This document compares the perils covered under the Institute Time Clauses Hulls from 1983 and 1995. Some key differences include perils related to nuclear installations or reactors changing from insured to uninsured in 1995. Contact with helicopters changing from uninsured to insured subject to due diligence in 1995. Accidents during cargo loading/discharging changing from insured subject to due diligence to fully insured in 1995.
INSTITUTE TIME CLAUSES HULL PERILS COVERED COMPARISONS
- 1. INSTITUTE TIME CLAUSES HULL COMPARISON Category of The Perils No Perils ITC Hulls 1/10/83 ITC Hulls 1/11/95 1 Perils of the seas, rivers, lakes or other navigable Insured Insured 2 Fire, explosion Insured Insured 3 Violent theft by persons from outside the vessel Insured Insured 4 Jettison Insured Insured 5 Piracy Insured Insured 6 Breakdown of or accident to nuclear installations or reactors Insured Uninsured 7 Contact with aircraft or similar objects, or objects falling therefrom Insured Insured Insured (subject to the want of 8 Contact with helicopter or similar objects, or objects falling therefrom Uninsured due diligence proviso) 9 Contact with land conveyance, dock, harbour equipment or installation Insured Insured 10 Earthquake, volcanic eruption, lightning Insured Insured Insured (subject to the want of due 11 Accidents in loading, discharging or shifting cargo or fuel Insured diligence proviso) Insured (subject to the want of due Insured (subject to the want of 12 Bursting of boilers, breakage, of shafts or any latent defect in the machinery or hull diligence proviso) due diligence proviso) Insured (subject to the want of due Insured (subject to the want of 13 Negligence of Masters, Officers, Crew or Pilots diligence proviso) due diligence proviso) Negligence or repairers or charterers (provided such repairers or charterers are not Assured under the Insured (subject to the want of due Insured (subject to the want of 14 Policy) diligence proviso) due diligence proviso) Insured (subject to the want of due Insured (subject to the want of 15 Barratry of Master, Officer or Crew diligence proviso) due diligence proviso)