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Section 4: Total loss

  • Clause 15-10. Relationship to Chapter 11

    The provisions in this Section shall apply in addition to the provisions contained in Chapter 11.

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    Clause 15-10. Relationship to Chapter 11

    The provision is, strictly speaking, unnecessary, but it does provide an appropriate bridge between Chapter 11 and the other rules in the Section.

  • Clause 15-11. Intervention by a foreign State power, piracy

    If the assured has been deprived of the ship by an intervention by a foreign State power, for which the insurer is liable under Cl. 2-9, the assured may claim for a total loss if the ship has not been released within twelve months from the day the intervention took place.

    If the ship has been captured by pirates or taken away from the assured by similar unlawful interventions, for which the insurer is liable under Cl. 2-9, the assured may claim for a total loss if the ship has not been recovered within twelve months from the day the intervention took place.

    If it has been established before expiry of the time-limits in sub-clauses 1 and 2 that the assured will not recover the ship, he may immediately claim for a total loss.

    If the assured has brought a claim for a total loss and the time-limits stipulated have expired, it is irrelevant for the assured's claim that the ship is released at a later time.

    Cl. 11-8 and Cl. 11-9 shall apply correspondingly.

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    Clause 15-11. Intervention by a foreign State power, piracy

    Sub-clause 1 states that the assured is entitled to total loss compensation if the ship is taken from him due to intervention by a foreign State power and he has not received it back within twelve months. It does not matter whether the intervention may be characterised as a "permanent" or...

  • Clause 15-12. Blocking and trapping

    If the ship is prevented from leaving a port or a similar limited area due to blocking, the assured may claim for a total loss, if the relevant obstruction has not ceased within twelve months after the day it occurred.

    The provisions in Cl. 15-11, sub-clauses 3, 4 and 5, shall apply correspondingly.

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    Clause 15-12. Blocking and trapping

    Sub-clause 1 gives the assured a right to total loss compensation when the ship is prevented from leaving port, etc., as a result of a war risk, and the hindrance lasts for over 12 months. The provision is aimed primarily at cases where the hindrance is of a physical nature, for example, when the...

  • Clause 15-13. Restrictions imposed by the insurer

    If the ship has been deprived of income for more than six months as a result of orders issued by the insurer, cf. Cl. 15-4, the assured may claim for a total loss.

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    Clause 15-13. Restrictions imposed by the insurer

    The provision confers on the assured entitlement to total loss compensation when restrictions imposed by the insurer prevent the ship from earning income for a period of over six months. This provision is related to the loss-of-hire cover, see Cl. 15-18. When the assured is covered for loss of ti...