1 We insure you for your liability for:

1. Physical loss of and damage to the following, and for resulting consequential loss:

1.1 Cargo

1.2 Your customer’s property (except ships)

1.3 Your customer’s ships

2 We do not insure you under this clause for

2.1 liabilities arising from cargo found to be missing on stocktaking, if you are unable provide   reasonable proof of the accident which caused the loss  

2.2 liabilities excluded at G1:2

2.3 your liability under 1.2 for loss/damage to your customer’s equipment which you lease for use in your insured services

Qualifications

3 Valuable Cargo

3.1We do not insure you for liabilities in respect of bullion, precious stones or cash/securities unless:

3.1.1 your customer did not inform you that you were handling these cargoes or

3.1.2 these cargoes were being handled at your insured location and you could not, in the circumstances, reasonably have known that you were handling these cargoes or that these cargoes were being handled.

3.2 In relation to the exception at 3.1, we will apply a limit of GBP 1 million each accident and in the aggregate each account year

3.3 A limit of GBP 1 million each accident and in the aggregate each account year applies to claims in respect of:

a. processed tobacco/tobacco products
b. bottled spirits
c. precious jewellery/precious metal
d. valuable works of art
e. thoroughbred horses
f. computers/handheld electronic products/mobile telephones (and electronic components of these)

1       We insure you for your liability for financial loss:

1.1 incurred by your customer arising from failure to perform your contractual obligations

1.2 arising from delay in performing your contractual obligations

1.3 arising from delivery of cargo contrary to your contractual obligations which is incurred by:

1.3.1 your customer or

1.3.2 the person entitled to delivery under a bill of lading or other contract of carriage or handling documentation

2      We do not insure you under this clause for:

2.1 your liability for consequential loss resulting from physical loss of or damage to cargo or other property

2.2 your own financial loss

Qualifications

3      Intentional or Reckless Conduct 

The Directors may in their discretion reduce or reject a claim if you or your employee has acted (or failed to act) intentionally or recklessly. In exercising this discretion the Directors may, among other matters, consider your corporate and compliance systems/procedures

4 References to U1

The following paragraphs of U1 also apply to this clause:

4.1 Stocktaking (U1:2.1) 

4.2 Liabilities excluded at G1:2 (U1:2.2)

4.3 Valuable cargo (U1:3)

5 Limit

Limit: GBP 1 million each accident and in the aggregate each account year

1        We insure you as stated below

1.1 We insure you for your liability for the following, including resulting consequential loss:

1.1.1 physical loss of and damage to third party property

1.1.2 death, injury or illness of any third party

1.1.3 pollution 

1.2 We insure you for your liability to indemnify a third party for its liability for the following, including resulting consequential loss:

1.2.1 physical loss of and damage to third party property

1.2.2 death, injury or illness of any third party except as at 1.2.3

1.2.3 death, injury or illness of your employee unless excluded at 2.1

1.2.4 pollution 

1.3 We insure an assured for liabilities directly to an employee of a joint assured and conversely a joint assured for liabilities directly to an employee of the assured or another joint assured

1.4 We insure you for your liability to indemnify

1.4.1 a ship owner in respect of a liability under the 1969/1992 Civil Liability Conventions (as amended)

1.4.2 the International Oil Pollution Compensation Fund in respect of a liability under the 1992 Fund Convention (as amended)

2       We do not insure you under this clause for liabilities:

2.1 for death, injury or illness of your employee which you incur as an employer or which would normally be insured under an Employers Liability insurance

2.2 arising from ownership, lease or operation by you/your employee of a road vehicle which is required to be licensed

2.3 in respect of your owned or leased carrying equipment which we do not insure for loss/damage

2.4 as owner/lessee of land which is not an insured location

2.5 arising from erection or dismantling of handling equipment - unless for inspection, maintenance or repair (or movement which is not excluded under 2.6)

2.6 arising from movement of handling equipment - other than within the same terminal, port or depot

2.8 excluded at G1:2

2.9 in respect of any risk which is insured under U4

Qualifications

3 Limit of Liability

3.1 In the event that it is held in any court or tribunal that anyone, other than the assured or a named joint assured or co-assured, is entitled to be insured under this insurance, then the limit of liability for this insurance for such a person will not exceed the lesser of the minimum insurance requirements under the applicable law and the limit stated in your policy

3.2 Claims under 1.4 are subject to a limit of GBP 1 million each accident and in the aggregate each account year

4 Transfer of Interest in Equipment under Contract of Sale

We only insure you for liabilities in respect of equipment after your interest in it has been transferred under a contract of sale if:

4.1 we insured the equipment immediately before the transfer and

4.2 the contract of sale includes no warranty except that the equipment is as described and that the purchaser has quiet use

1 We insure you for:

1.1 The following, imposed on you by an authority, as a result of breach of regulations listed at 1.3:

1.1.1 Fines and other penalties, including confiscation

1.1.2 Duty and sales/excise tax and similar fiscal charges

1.1.3 Costs

1.2 Liability for financial loss incurred by a third party as a result of a liability specified at 1.1

1.3 The regulations referred to at 1.1 relate to:

1.3.1 import/export and carriage of cargo, conveyances or equipment

1.3.2 immigration

1.3.3 safety at work, including corporate manslaughter and corporate homicide

1.3.4 security/anti-terrorism

1.3.5 pollution

1.3.6 the following - to the extent that you are insured for services to which the regulations apply:

a. navigational aids
b. marine traffic control
c. pilotage

2 We do not insure you under this clause:

for liability/confiscation arising from:

2.1 breach of regulations relating to competition or regulation of companies or privacy and protection of personal data, including the General Data Protection Regulation (GDPR)

2.2 ownership, lease or operation by you/your employee of a road vehicle which is required to be licensed

2.3 your owned/leased carrying equipment which we do not insure for loss/damage

2.4 your making your customs bond/guarantee available to another person -
unless this arises from:

2.4.1 assistance which an operator provides to you in your insured services
         or
2.4.2 other insured services which you provide

Qualifications

3 Intentional or Reckless Conduct

The Directors may in their discretion reduce or reject a claim if you or your employee has acted (or failed to act) intentionally or recklessly.

4 Illegality

If insurance for any of the matters specified at 1 above is held to be illegal, this will apply only to the matters concerned and will not affect other insurance under this clause or elsewhere in your policy

5 Enforcement of Reimbursement

If it is held by a court or tribunal that you have no right to enforce reimbursement of a claim under this clause, we undertake to treat the claim as if your right is enforceable unless it would be illegal for us to do so.

6 Limit

Limit for claims under 1.3.5: USD 1 million each accident and in the aggregate each account year

1 We insure you for the following costs (subject to U5:3):

1.1 Mitigation

Costs of minimising a claim

1.2 Investigation & Defence

Costs arising from investigating an accident which may give rise to a claim and protecting your interests in relation to it (including legal and survey fees) - including the costs of recovering a debt if payment is withheld solely because of a claim

1.3 Disposal

Costs additional to costs which you would have incurred in any event, of disposing of cargo, insured carrying equipment or your customer's property - except a ship/aircraft (or wreck) - after an accident to it

1.4 Quarantine & Disinfection (including fumigation)

Costs other than costs incurred in the normal course of business

1.5 Wreck Removal

Costs of removing the wreck of a ship, where during your period of insurance one of the following circumstances arises:

1.5.1 you incur a liability under a regulation or under an order of an authority or

1.5.2 the wreck is a danger to navigation or

1.5.3 the wreck has to be removed in order to avoid or reduce the risk of a claim or

1.5.4 the wreck has to be removed in order to mitigate a claim or

1.5.5 the wreck has to be removed in order to provide your insured services

1.6 Clean Up Costs

Clean up costs which you incur under compulsorily applicable law or by order of an authority.

2 We do not insure you under this clause:

2.1 for costs which are insured at U4:1.1.3

2.2 for costs under 1.5 or 1.6 which are insured under any other provision in your policy 

Qualifications

3 Approval/Agreement

We only insure you if: 

3.1 the Managers have agreed the costs or

3.2 the Directors decide that the costs were properly incurred

4 Limits & Deductibles: Investigation & Defence and Mitigation

4.1 We will apply the limit which applies to the claim being investigated/defended or mitigated to claims under U5:1.1 & 1.2 and costs will be included in the claim for this purpose

4.2 We will apply the deductible which applies to the claim being mitigated to claims under U5:1.1

4.3 We will apply a nil deductible to claims under U5:1.2