Section 3 - NordicPlan

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Section 3: Indemnification of additional costs incurred in an unsuccessful launching and costs of wreck removal

  • Clause 19-18. Additional costs incurred in an unsuccessful launching

    In the event of an unsuccessful launching, the insurer covers the additional costs incurred by the assured in carrying out the launching.

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    Clause 19-18. Additional costs incurred in an unsuccessful launching

    This Commentary was rewritten in the 2013 Plan. This Clause deals with the indemnification of additional costs in connection with unsuccessful launching. This means that the costs that are covered are additional to what is covered under the other conditions of the builders’ risks insurance. An...

  • Clause 19-19. Costs of wreck removal

    The insurer covers the assured’s costs of necessary removal of wrecks from places owned by or at the disposal of the yard.

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    Clause 19-19. Costs of wreck removal

    This Commentary was rewritten in the 2013 Plan. This Clause deals with the insurer’s indemnification of costs incurred by the assured for the “necessary removal of wrecks”.  In this connection, “wreck” means the wreck of the subject-matter insured or its components. Removal is necessary when it i...