Cover in respect of each of the interests listed in Cl. 18-60 is conditional upon the parties having agreed a separate sum insured for each interest. In the case of loss of hire insurance, the insurance contract must also state the amount of the daily indemnity, cf. Cl. 18-47 and Cl. 18-48, the deductible period, cf. Cl. 18-49, and number of days of indemnity per casualty and altogether, cf. Cl. 18-46, sub-clause 2.
Unless otherwise agreed, the following sums insured shall apply:
- The sum insured for Cl. 18-60 (e) P&I and occupational injury insurance is the total of the sums insured under Cl. 18-60 (a) and (c). Within this combined sum, costs incurred to prevent loss under Sections 5-7 and 5-8 shall be covered. Cl. 4-18 shall not apply.
- The sum insured for 18-60 (b) collision liability shall be equal to the sum insured for Cl. 18-60 (a) and subject to the limitation of Cl. 18-37 with addition of the sum insured for Cl. 18-60 (c) hull interest, cf. Cl. 18-39 (b).