By selecting UK flag, you have now set your site language to English. If you'd like to change your language preference again, simply click on one of the other flags.

Close

こちら Japan flag を選択して頂くと、言語設定が日本語に切り替わります。設定変更後は以下の機能が利用可能です。

  • 日本語版ウェブサイトへのクイックアクセスが可能となり、日本語の刊行物をご覧頂けます。

  • 日本語版が閲覧可能な刊行物や記事については、日本語が優先表示されます。表示言語については Japan flag をご参照下さい。

閉じる 言語設定を切り替えたい場合には、国旗のマークをクリックして下さい。

By selecting Japan flag, you have now set your language to Japanese. This has several benefits, including:

  • Providing quick access to our Japan page, which collates all our Japanese content in one place.

  • Ensures that content is presented to you in Japanese first, if we have an article, publication or webpage available in Japanese. Look out for the Japan flag indicators across the site.

Close If you’d like to change your language preferences again, simply click on one of the other flags.

点击选择 China flag,可将网站语言设置为中文。这能帮助您:

  • 快速访问我们的中国区页面,该页面将有网站内容的中文汇总。

  • 在我们的文章、出版物或者网页有中文版本提供的情况下,确保首先向您展示的是中文版本的内容。您可关注站点上的 China flag 按键。

关闭 点击任意其他国旗,可切换您的语言偏好。

By selecting China flag, you have now set your language to Chinese. This has several benefits, including:

  • Providing quick access to our China page, which collates all our Chinese content in one place.

  • Ensures that content is presented to you in Chinese first, if we have an article, publication or webpage available in Chinese. Look out for the China flag indicators across the site.

Close If you’d like to change your language preferences again, simply click on one of the other flags.

North has merged with Standard Club to form NorthStandard.
Find out more about NorthStandard here or continue on this site to access information and resources.

Class III War Risks - Insured Values and Amounts

Add
PDF

CIRCULATED TO ALL WAR CLASS MEMBERS, BROKERS AND DIRECTORS

The Association is aware that as a consequence of the strong freight market in certain shipping sectors many Members may have made changes to the insured values and amounts on their hull and machinery placings and we would like to take this opportunity to remind Members of the requirements of the War Class III Rules in this regard.

The values and amounts declared for the War Risks Class must be the same as the corresponding values and amounts applying to the equivalent non-War hull and machinery insurance placings.

Rule 1.2 requires that the value declared for Rule 2 Part A (Queen’s Enemy Risks) will be the total marine value, that is to say the total sum for which the ship is insured for total loss (whether in conjunction with or independently of partial damage cover) under marine policies.

The effect of Rule 1.3 is that the value declared for the purposes of Rule 2 Part B (non-Queen’s Enemy Risks) and other related sections shall also be the amount for which the ship is insured for total loss (whether in conjunction with or independently of partial damage cover) under marine policies, unless part of the total loss value of the ship is insured against the risks of disbursements, increased value, hull interest, freight interest or for premiums in which case Rule 1.4 applies.

Rule 1.4 requires that the sum insured declared for the purposes of Rule 3 (Total Loss Interests) shall be the sum insured for the corresponding risk under marine policies, and the nature of the cover should be identified.

The overall effect of these Rules is that the value declared for Rule 2 Part A will be the total value and amount of all the marine market insurances in respect of hull and machinery and total loss interests such as disbursements and increased value. The value declared for Rule 2 Part B is the value of marine market policies on hull and machinery or full conditions and finally the amount declared for Rule 3 will be the amount of any marine market insurances in respect of total loss interests, disbursements, increased value and the like.

Members are reminded that Rule 1.4.2 requires that the amount declared for Rule 3 must not exceed 50% of the value declared for Rule 2 Part B.

Please contact the undersigned if any further explanation is required.

WJM DOUGLAS

MANAGER

North Insurance Management Limited

As Managers on behalf of the North of England P&I Association Limited

Welcome to

We've merged with Standard Club to form NorthStandard, this means a new name and look for us, and even better service, support, and cover for you.

You can find out more about NorthStandard on our new website here. As part of the NorthStandard Group, please continue to use nepia.com for your industry news, publications and expertise as well as club rules and contacts.