PICC Maritime Insurance (Hull Insurance Clauses)

The subject matter of this insurance is the vessel, including to hull, lifeboats, machinery, equipments, instruments, tackles, bunkers and stores.
This insurance is classified into Total Loss Cover and All Risk Cover.

Scope Cover

Total Loss Cover
The insurance covers total loss of the Insured vessel caused by:
Earthquake, volcanic eruption, lighting or other natural calamities;
Grounding, collision, contact with any object, fixed, floating or otherwise, or other perils of the sea;
Fire or explosion;
Violent theft by persons from outside the vessel is piracy;
Jettison;
Breakdown of or accident to nuclear installations or reactors;
This insurance also covers total loss of the Insured vessel caused by:
Accidents in loading, discharging or shifting cargo or fuel;
Any latent defect in a machinery or hull of the vessel;
Wrongful acts willfully committed by the master or crew to the prejudice of the Insured interest;
Negligence of the master crew or pilot repairers or charters;
Acts of any governmental authority to prevent or minimize a pollution hazard resulting from damage to the vessel caused by risks insured against, provided such loss has not resulted from want of the diligence by the Insured, Owners or Managers.
All Risks Cover
This insurance covers total loss of or damage to the Insured vessel arising from the causes under the Total Loss Cover and also covers the under-mentioned liability or expense:
Collision Liabilities
This insurance covers legal liabilities of the Insured as a consequence of the Insured vessel coming into collision or contact with any other vessel, or any object, fixed, floating or otherwise, However, this clause does not cover any liabilities in respect of: loss of life, personal injury or illness; cargo or other property on or engagements of the Insured vessel; removal or disposal of obstructions, wrecks, cargoes or any other thing whatsoever; pollution or contamination of any property or thing whatsoever (including cost of preventive measures and clean-up operations) except pollution or contamination of the other vessel with which the Insured vessels is in collision or property on such other vessel; indirect expenses arising from delay to or loss of use of object, fixed, floating or otherwise.
Where the Insured vessel is in collision with another vessel and both vessels are to blame, then unless the liability of one or both vessels becomes limited by law, the indemnity under this clause shall be calculated on the principle of cross liabilities. This principle also applies when the Insured vessel comes into contact with an object.
The insurer’s liability (including legal costs) under this clause shall be in addition to his liability under the other provisions of this insurance but shall not exceed the Insured amount of the vessel hereby insured in respect of each separate occurrence.
General Average and Salvage
This insurance covers the Insurance vessel’s proportion of general average, salvage or salvage charges, bu

中保船舶险page284.doc