Policy Year 2024/25 Version 5.00 (February 2024) Page 1 of 62 TABLE OF CONTENTS PART I RISKS COVERED Clause 1 Risks covered Clause 2 Costs and expenses, Sue and labour PART II ADDITIONAL INSURANCES Section A Deviation and other exceptions to coverage in respect of Cargo (ad hoc) Clause 1 Deviation from contractually agreed voyage Clause 2 Discharge at a port or place other than that provided in the contract of carriage Clause 3 ad valorem bills of lading Clause 4 Rare and valuable cargo Clause 5 Deck cargo Clause 6 Waiver or limitation of rights of recourse Section B Extended Cargo Liabilities (Annual Cover) Clause 1 Extended cargo liabilities Clause 2 Liabilities arising out of blending and/or commingling Section C Extended Contractual Liabilities Clause 1 Extended contractual liabilities Section D Extended Towage Liabilities Clause 1 Extended towage liabilities Section E Extended Through Transit Liabilities Clause 1 Liabilities arising out of the carriage of containerised cargo Clause 2 Liabilities arising out of the carriage of non-containerised cargo Section F LNG Terminals Conditions of Use Clause 1 LNG Terminals Conditions of Use in relation to a mutual entry in the Association Section G Liabilities arising pre- and postEntry of the Ship Clause 1 Liabilities arising pre- and post- Entry of the Ship in relation to a mutual entry in the Association Section H Liabilities arising out of Salvage Services Clause 1 Liabilities arising out of salvage services in relation to a mutual entry in the Association Clause 2 Liabilities arising out of salvage services in relation to a non-mutual insurance of a Charterer by the Association Section I Specialist Operations Clause 1 Specialist operations Section J Liabilities in respect of Superintendents, other Personnel and Crew Clause 1 Liabilities in respect of superintendents and other personnel in relation to a mutual entry in the Association Clause 2 Liabilities in respect of Crewmembers not on board the Entered Ship in relation to a mutual entry in the Association PART III EXTENSIONS TO COVER Clause 1 War and strikes risks PART IV EXCLUSIONS, LIMITATIONS AND WARRANTIES Clause 1 Excluded risks Clause 2 Sanctions Clause 3 Imprudent trading Clause 4 Cyber risks Clause 5 Communicable Disease Risks Clause 6 War and strikes risks Clause 7 Nuclear risks Clause 8 Other insurances Clause 9 Limitation of liability Clause 10 Classification and condition of Ships Clause 11 Byelaws PART V CLAIMS Clause 1 Obligations of the Assured in respect of claims Clause 2 Powers of the Managers relating to the handling and settlement of claims Clause 3 Powers of the Association relating to the settlement of claims on the Association Policy Year 2024/25 Version 5.00 (February 2024) Page 2 of 62 TABLE OF CONTENTS PART VI GENERAL TERMS & CONDITIONS Clause 1 Articles of Association Clause 2 Definitions Clause 3 Extent of cover Clause 4 Sanctions Clause 5 Insurance Act 2015 Clause 6 Right of recovery, Subrogation, Set-off, Incident, Currency, Sanctions (Entitlement to recover) Clause 7 Application for insurance, Fair presentation of the risk, Certificate of Insurance, Variation, Contract of insurance, Refusal of application Clause 8 Coassureds Clause 9 Period of Insurance Clause 10 Premium and amounts payable to the Association Clause 11 Mortgagees Clause 12 Associated Companies Clause 13 Termination of all insurances Clause 14 Termination of insurance of Ship Clause 15 Effect of termination Clause 16 Premium due on termin