Cover in respect of each of the interests listed in Cl. 15-2 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. 16-5 and Cl. 16-6, the deductible period cf. Cl. 16-7, and number of days of indemnity per casualty and altogether, cf. Cl. 16-4 sub-clause 2.
Unless otherwise agreed, the following sums insured shall apply:
- The sum insured for Cl. 15-2 (e) P&I and occupational injury insurance is the total of the sums insured under Cl. 15-2 (a) and (c). Within this combined sum, costs incurred to prevent loss under Section 7 and 8 shall be covered. Cl. 4-18 shall not apply.
- The sum insured for 15-2 (b) collision liability shall be equal to the sum insured for Cl. 15-2 (a) with addition of the sum insured for Cl. 15-2 (c) hull interest, cf. Cl. 14-1 (b).