War Risks Insurance Clause Samples

War Risks Insurance. (a) Owner shall (save as specifically provided in this clause) have the same rights and obligations in respect of insurance of war risks as provided for all the risks referred to in clauses 1 and 2 hereof and, where applicable, up to the same cover amounts.

War Risks Insurance insurance against War risks according to the London Institute War Clauses, on an agreed value basis attaching also the so called war protection clauses. In this case crew war liabilities insurance shall also have to be effected separately; and

War Risks Insurance. War Risks Insurance shall be effected on the terms and conditions in force and approved at the time of shipment by the Institute of London Underwriters. Any expense for covering war risks insurance in excess of ½% shall be for account of Buyer. The rate of insurance shall not exceed the rate ruling in London at the time of shipment or date of ship's sailing whichever may be adopted by Underwriters. Notice of extra expenses to be borne by Buyer shall be given by Seller at the time of declaration under this contract or not later than 3 business days after the rate has been agreed with Underwriters whichever is the later. Failure to give such notice shall invalidate Seller’s claim unless in the opinion of arbitrators the delay is justifiable.

War Risks Insurance effect and maintain insurance against war risks in respect of the Vessel on an agreed value basis in an amount equal to at least 120 per cent. of the Facilities;

War Risks Insurance. War risks insurance shall be affected on the terms and conditions in force and approved at the time of shipment by the Institute of Underwriters (Institute War Clauses [FOSFA Trades]). Any expense for covering war risks insurance in excess of ½ % shall be for account of Buyers. The rate of insurance shall not exceed the rate ruling at the time of shipment or date of ship's sailing whichever may be adopted by underwriters. Notice of extra expense to be borne by Buyers shall be given by Sellers at the time of declaration under this contract or not later than 3 business days after the rate has been agreed with underwriters whichever is the later. Failure to give such notice shall invalidate the Sellers' claim unless in the opinion of arbitrators the delay is justifiable.