Common use of Renewal of Insurances Clause in Contracts

Renewal of Insurances. The Charterers shall:- (a) at least fourteen (14) days before the relevant policies, contracts or entries expire, notify the Owners in writing of the names of the brokers proposed to be employed by the Charterers for the purposes of the renewal of such Insurances and of the amounts in which such Insurances are proposed to be renewed and the risks to be covered, in each case subject to compliance with any requirements of the Owners pursuant to this Clause 49; (b) procure that the Approved Brokers and the approved war risks and protection and indemnity associations will at least seven (7) days before such expiry confirm in writing to the Owners that they have been instructed to renew the relevant Insurances and such renewals are in the process of being effected in accordance with the instructions so given, and the Charterers shall provide the Owners with details of the instructions as the Owners may require; and (c) procure that the Approved Brokers and the approved war risks and protection and indemnity associations will prior to such expiry confirm in writing to the Owners that the relevant Insurances have been renewed, and the Charterers shall provide the Owners with details of the renewed Insurances as the Owners may require.