Japan P&I Club Special Cover for War Risks P&I
In the light of the terror in U.S.A. and the volatility of marine-hull war risks market therefrom, Members are advised of the captioned Cover as below.
The Association, in common with the other International Group Clubs, provides the excess cover for War Risks P&I that would be excluded by the Rule 35 1 (2). Members are free of charge for attaching this Cover.
This cover is intended to pay claims only in excess of amounts recoverable under a Members' existing war risks policies including but not limited to Hull and Machinery and Crew Marine or War Risks Policies, and any Protection and Indemnity Inclusion Clauses attached thereto, so Members are expected to maintain their existing war risks cover, including for P&I risks, to the maximum extent available from their war risk underwriters.
| Terms and Conditions of the cover for 2001 Policy Year are as follows;- | |
| Extent of Cover: | Excess of amounts recoverable under Members' existing war risks policies including but not limited to Hull and Machinery and Crew Marine or War Risks Policies, and any Protection and Indemnity Inclusion Clauses attached thereto. |
| Limit: | US$ 100,000,000 |
| Exclusions: | No trading areas is excluded, subject to change from day to day review as events develop. |
| Notice of Cancellation: The Cover shall terminate | |
| 1. if the Association give 7 days notice: 2. upon the outbreak of war (whether there be a declaration of war or not) between any of the following countries: United Kingdom, United States of America, France, the Russian Federation, the People's Republic of China 3. in the event of the vessel being requisitioned, either for title or use. |
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| * The Directors have the power to cancel the Cover entirely upon giving 7 days notice. We will keep Members informed of any development. |
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| Application for the Cover: | The cover is at all times attached to the vessel's entry with the Association, subject to Members apply otherwise. Members who do not wish to attach the Cover, please inform us by fax or e-mail. |