Examples of Increased Value in a sentence
If Contractor’s Hull and Machinery policy (and Increased Value policy if applicable), War Risk Hull and Machinery policy, or Second Seaman’s War Risk policy contain(s) any provision designed to limit the effect of striking “other than owner” or “as owner” provisions as required in this Paragraph ii., such provisions shall also be amended to ensure Charterer is provided full benefit of the insurance for its acts as Charterer.
If Contractor’s Hull and Machinery policy (and Increased Value policy if applicable), War Risk Hull and Machinery policy, or Second Seaman’s War Risk policy contain(s) any provision limiting coverage under the policy only to liabilities arising as owner of the vessel, Contractor shall arrange for such limiting provision to be stricken from the policy.
The agreed value of the cargo shall be deemed equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the cargo by the Assured, and liability under this insurance shall be in such proportion as the sum insured herein bears to such total amount insured.In the event of claim the Assured shall provide the Underwriters with evidence of the amounts insured under all other insurances.
As Component 1: Increased Domestic and Export Sales and Component 2: Increased Value Chain Production are intrinsically linked, they are presented as one section: Market-Led Production.
You will not owe any additional premiums unless you want to increase your coverage at a later date and the Company agrees to add an Increased Value Endorsement.