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Commercial Hull Insurance
Policy Document.
Allianz Marine & Transit Underwriting Agency
As a specialist, our exclusive focus is on providing solutions to clients in the marine, transport and logistics industries.
allianzmarineandtransit.com.au
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Table of contentsPage
Usage 11
Majorrepairs 11
Radioactive,nuclear,asbestos 11
Cyber 11
Terrorism 12
Property(physicalDamage)exclusions 12
Undeclaredrisks 12
Vesselcondition 12
Consequentialloss 12
Other 12
Liability(P&ILiability)exclusions 12
Crew,employeesandfamilymembers 12
Otherexcludedparties 12
Motorvehicle/towingrisks 12
Contractualliability 12
Fines,penaltiesetc 12
Other 12
General conditions 13
ApplicableLaw 13
AutomaticReinstatementClause 13
Alterationofrisk 13
Authority 13
BreachofConditionorWarranty 13
CrossLiability 13
DueCare 13
GSTnotice 13
Licensing/RegistrationWarranty 14
OtherInsurance 14
Prohibitedcoverorpayments 14
Thirdpartyinterests 14
Underinsurance 14
Waiverofsubrogationrights 14
Claims 15
Notification 15
HowmuchWepay 15
LossorDamagetoYourVessel 15
Deductible 15
Page
Introduction and important notices 2
Introduction 2
WhoistheInsurer? 2
AboutAllianzMarine&TransitUnderwritingAgencyandAllianz 2
OurcontractwithYou 2
NoWorkersCompensationcover 3
UnderstandingYourPolicyanditsimportanttermsandconditions 3
Applyingforcover 3
Renewalprocedure 3
Contactforassistanceorconfirmationofcover 3
YourDutyofDisclosure 3
Alterationofrisk 4
Premium 4
NonPaymentofPremiumbyInstalments–Righttorefuseaclaimand/orcancelYourPolicy 4
InstalmentPremiumservicefee 4
Howtomakeaclaim 5
Cancellation 5
Privacynotice 5
GeneralInsuranceCodeofPractice 6
Disputeresolutionprocess–helpingYousolveanyproblems 6
Ifthisinsurancehasbeenissuedthroughaninsuranceintermediary 6
Words with special meaning 7
Cover 9
DeliberateDamage 9
FixedFireApplianceDischargeClause 9
Fishing/SportsEquipment 9
LeasedEquipmentClause(excludingFishing,DivingandRecreationalEquipment) 10
Negligent/wrongfulactbyHirers/Charterers 10
PassengerLiabilityExtension 10
PersonalandCrewproperty 10
ShoreCover 10
TransitCover 10
General exclusions 11
Outsideagreedlimits 11
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Our contract with YouWhereWeagreetoenterintoaPolicywithYouitisacontractofinsurancebetweenUsandYou(seethedefinitionof“You”fordetailsofwhoiscoveredbythisterm)andisacontractofmarineinsuranceasdefinedbytheMarineInsuranceAct1909.
WeonlycoverthosepartiesshownintheScheduleunlessotherwisestatedinthePolicyasbeingapersonorentityentitledtocover.IfmorethanonepersonisinsuredunderthePolicy,afailureorwrongfulactionbyoneofthosepersonsmayadverselyaffecttherightsofanyotherpersoninsuredunderthePolicy.
WecoverYouinaccordancewiththeinsuranceasdescribedinthisPolicy,forthePeriodofInsuranceshownontheScheduleandforanysubsequentperiodwhererenewalmaybeagreed.ThemaximumamountWewillpayunderthePolicywillnotexceedtheSumInsuredortheLimitofIndemnityshownontheScheduleunlessotherwisespecifiedherein.CoverisonlyprovidedwheretherelevanteventorincidentoccurswithintheGeographicLimits(whereapplicable).
YouarerequiredtocomplywiththetermsandconditionsofthePolicy.PleaserememberthatifYoudonotcomplywithanytermorcondition,Wemay(totheextentpermittedbylaw)declineorreduceanyclaimpaymentand/orcancelYourPolicy.
ThePolicyconsistsof:
• thisdocumentwhichsetsoutthestandardtermsofYourcoveranditslimitations;
• YourcurrentScheduleissuedbyUs.TheScheduleisaseparatedocument,whichshowstheinsurancedetailsrelevanttoYou.Itmayincludeadditionalterms,conditionsandexclusionsrelevanttoYouthatamendthestandardtermsofthisdocument;and
• anyotherchangetothetermsofthePolicyotherwiseadvisedbyUsinwriting(suchasanEndorsement).Thesewrittenchangesmayvaryormodifytheabovedocuments.
Theseareallimportantdocumentsandshouldbecarefullyreadtogetherandkeptinasafeplaceforfuturereference.WhenYouenterintothePolicyYouconfirmandwarrantthatYouhavereadorwillreadthePolicydocumentswhenprovidedtoYou.AnyneworreplacementScheduleWemaysendYou,detailingchangestoYourinsuranceorthePeriodOfInsurance,willbecomethecurrentSchedule,whichYoushouldcarefullyreadandretain.
Wereservetherighttochangethetermsofthisinsurancewherepermittedtodosobylaw.
Introduction and important noticesIntroductionWelcomeandthankYouforchoosingOurCommercialHullInsurancePolicy.
Thisisanimportantdocument.Youshouldreaditcarefullybeforemakingadecisiontopurchasethisinsurance.ItwillhelpYouto:
• decidewhetherthisinsurancewillmeetYourneeds;and
• compareitwithotherproductsYoumaybeconsidering.
PleasenotethatanyrecommendationoropinioninthisdocumentisofageneralnatureonlyanddoesnottakeintoaccountYourobjectives,financialsituationorneeds.
YouneedtodecideifthisinsuranceisrightforYouandYoushouldreadallofthedocumentsthatmakeupthePolicytoensureYouhavethecoverYouneed.
Who is the Insurer?TheInsurerisAllianzAustraliaInsuranceLimited(Allianz),AFSLicenceNo.234708,ABN15000122850.
InthePolicydocumentWerefertoAllianzAustraliaLimitedas“We”,“Us”,“Our”and“Allianz”.
About Allianz Marine & Transit Underwriting Agency and AllianzAllianzMarine&TransitUnderwritingAgencyPtyLimitedAFSRepresentativeNo.423910ABN98155554279ofLevel1,61LavenderStreet,MilsonsPointNSW2061isanAustralianorganisationthatspecialisesinprovidinginsuranceproductsforcargo,commercialhullandmarineliabilities.AllianzMarine&TransitUnderwritingAgencyhavebeengivena“binding”authoritybyAllianztoissue,varyandcancelthisinsuranceandsettleclaimsasagentsofAllianzasiftheywereAllianztheinsurer.
AllianzisoneofAustralia’slargestgeneralinsurers.Weutiliseyearsoflocalexpertise,combinedwithglobalexperiencetoofferawiderangeofproductsandservicestoOurcustomers.AsamemberoftheworldwideAllianzGroup,WearecommittedtocontinuousimprovementofOurproductsandservicesandstrivetoachievethisthroughknowledgetransferwithinthegroup,dedicatedtechnicalresearchunits,sharingnewproductdevelopmentsandawiderangeofriskmanagementservicesglobally.
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WhereWeagreetoissueaPolicy,coverisprovidedonthebasis:
• thatYouhavepaidoragreedtopayUsthePremiumforthecoverprovided;
• oftheverbaland/orwritteninformationprovidedbyYouwhichmusthavegiveninaccordancewithYourDutyofDisclosure.
YourDutyofDisclosureandtheconsequencesofnondisclosure,areprovidedundertheheading‘YourDutyofDisclosure’onpage3.
Renewal procedureBeforeYourPolicyexpires,WewilladviseYouwhetherWeintendtoofferrenewalandifsoonwhatterms.
ThisdocumentalsoappliesforanyotherrenewalWemake,unlessWetellYouotherwise.
ItisimportantthatYoucheckthetermsofanyrenewalbeforerenewingtosatisfyYourselfthatthedetailsarecorrect.InparticularcheckthesuminsuredamountstoensurethatthelevelsofcoverareappropriateforYouandthatYouareproperlycoveredintheeventofamajorloss.
PleasenotethatYouneedtocomplywithYourDutyofDisclosurebeforeeachrenewal(seebelow).
Contact for assistance or confirmation of coverIfYouneedtoconfirmanyPolicytransactionorclarifyanyoftheinformationcontainedinthisdocumentorifYouhaveanyotherqueries,pleasecontactUsviathedetailsonthebackcover.
Your Duty of DisclosureBeforeenteringintoacontractofgeneralinsurancewithUs,Youhaveaduty,undertheInsuranceContractsAct1984andtheMarineInsuranceAct1909(asapplicable)todisclosetoUseverymatterwhich:
• Youknow;or
• areasonablepersoninthecircumstancescouldbeexpectedtoknow,
isrelevanttoOurdecisionwhethertoaccepttheriskoftheinsuranceand,ifso,onwhatterms.
YouhavethesamedutytodisclosethosematterstoUsbeforeYourenew,extend,varyorreinstateacontractofgeneralinsurance.
Thisdutyofdisclosureappliesuntilthecontractisenteredinto(orrenewed,extended,variedorreinstatedasapplicable).
No Workers Compensation coverThisPolicydoesnotincludeworkerscompensationcover.SuchcoveriscompulsoryforemployersandYoushouldarrangeseparateinsurance.
Understanding Your Policy and its important terms and conditionsToproperlyunderstandthesignificantfeatures,benefitsandrisksofthisinsuranceYouneedtocarefullyread:
• therestofthis“Introduction”section–thissetsouthowYouapplyforcover,thebasisonwhichWeinsureYou,thedutyofdisclosureYouneedtomeetbeforeWeinsureYou,Ourprivacyinformation,Ourdisputeresolutionproceduresandotherimportantinformation;
• the“Wordswithspecialmeaning”section–thissetsoutwhatWemeanbycertainwordsusedinthePolicy.Thesewordsbeginwithacapitalletterthroughoutthisdocument;
• the“GeneralPolicyexclusions”section–thissetsoutthegeneralexclusionsandlimitsthatapplytocoverandbenefits;
• the“GeneralPolicyconditions”and“Claims”sections–thesesetoutcertaingeneralrightsandobligationsthatYouandWehave;
• allofthedocumentsthatmakeupthePolicy,includingthePolicyScheduleandanyEndorsementsorotherwrittenchangestothecoverWeissueYouwith–thesecontainspecificdetailsrelevanttoYouandcanaffectthecover.
HeadingsareprovidedforreferenceonlyanddonotformpartofYourPolicyforinterpretationpurposes.
Applying for coverWhenYouapplybycompletingOurapplicationprocessYouneedtoprovidetheinformationWerequiretodeterminewhethertoissueaPolicyandifso,onwhatterms,including(totheextenttheyareoptional):
• thecoversandbenefitsYouwant(includingthepropertyYouwishtocover);
• thelimitsYouwant;
• theperiodofcoverYouwant;
• whetherYouwantanythirdpartiestobenotedashavinganinterest;
• theDeductiblethatYouwanttocontributeforcertainclaims;
• whetheranystandardtermsneedtobevaried(thismaybebywayofanEndorsement).
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Yourdutyhoweverdoesnotrequiredisclosureofanymatter:
• thatdiminishestherisktobeundertakenbyUs;or
• thatisofcommonknowledge;or
• thatWeknowor,intheordinarycourseofOurbusinessasaninsurer,oughttoknow;or
• astowhichcompliancewithYourdutyiswaivedbyUs.
Non-disclosure
Where the Insurance Contracts Act appliesWheretheInsuranceContractsActapplies,if:
• YoufailtocomplywithYourdutyofdisclosure,WemaybeentitledtoreduceOurliabilityunderthecontractinrespectofaclaim,cancelthecontractorboth;
• Yournon-disclosureisfraudulent,Wemayalsohavetheoptionofavoidingthecontractfromitsbeginning.
Where the Marine Insurance Act 1909 appliesWheretheMarineInsuranceAct1909applies,ifYoufailtocomplywithYourdutyofdisclosure,Wemayavoidthecontractfromitsbeginning.
Who must tell Us?
EveryonewhoisinsuredunderthePolicymustanswerthequestioninthisway.
Alteration of riskWhere the Insurance Contracts Act applies
IfYoubecomeawareofanychangestothefactsorcircumstanceswhichexistedwhenthisinsurancecommencedthatchangethenatureoftherisk(forexample,thenatureofYourCommercialVesseloperationsorwayYourVesselismoored)inawaythatwouldincreasetheriskoflossorDamageoccurringYoumustnotifyUsimmediatelyinwriting.IfWeagreetothechangeWewilldosoinwritingandYoumustpayUsanyadditionalPremiumWerequire.
Where the Marine Insurance Act applies
YoumustgiveUsimmediatenoticeinwritingifthereisanymaterialchangeinthecircumstancesornatureoftheriskscoveredbythisPolicy,ornoclaimarisingafterthechangeshallbepayableunlessWehaveagreedtothechangeinwriting.
PremiumTheamountofYourPremiumisdeterminedbytakinganumberofdifferentmattersintoaccountincludingYourriskprofile.ItisimportantforYoutoknowthatthePremiumvariesdependingontheinformationthatWereceivefromYouabouttherisktobecoveredbyUs.BasedonOurexperienceandexpertiseasaninsurer,WedecidewhatfactorsincreaseOurriskandhowtheyshouldimpactonthePremium.
YourriskprofileisbasedonacombinationoffactorsthatassistindeterminingthelikelihoodofaclaimoccurringinthePolicyyearandtheamountthattheclaimislikelytocostUs.ThefactorsthatmakeupYourriskprofileinclude:
• Yourpastlosshistory,experienceincommercialVesseloperations,andtheclaimshistoryandexperienceofYouremployeesorpersonswhoareallowedtousetheVessel;
• thetype,age,areaofoperation,locationandUsageoftheVessel;
• theInsuredValueoftheVesselincludingEquipmentandAccessories;
• thecoverrequiredandDeductibleapplicable;and
• whetherYoupayYourPremiumannuallyorbyinstalments,andwhetherYourVesselisfinancedandunderwhattypeoffinanceandrelevantinsurance,criminalandbankruptcyhistory.
FactorsthatincreasetherisktoUsmayresultinahigherbasePremiumwhilstfactorsthatdecreaseOurriskmayresultinalowerbasePremium.
YourPremiumalsoincludesamountsthattakeintoaccountOurobligationtopayanyrelevantcompulsorygovernmentcharges,taxesorlevies(e.g.StampDuty,GST,EmergencyandFireServicesLevy)inrelationtothePolicy.TheseamountswillbesetoutseparatelyonYourScheduleaspartofthetotalPremiumpayable.
WhenYouapplyforthisinsurance,YouwillbeadvisedofthetotalPremiumamountpayable,whenitneedstobepaidandhowitcanbepaid.ThisamountwillbesetoutintheSchedule,whichwillbesenttoYouaftercommencementofthePolicy.IfYoufailtopayWemayreduceanyclaimpaymentbytheamountofPremiumowingand/orcancelthePolicy.SpecialrightsandobligationsapplytoinstalmentPremiumpaymentsassetoutbelow.
Non Payment of Premium by Instalments – Right to refuse a claim and/or cancel Your Policy
WhereYoupayYourPremiumbyinstalments,Youmustensurethattheyarepaidontime.Ifaninstalmenthasremainedunpaidforaperiodofatleastfourteen(14)days,Wemayrefusetopayaclaim.
Ifaninstalmentremainsunpaidforatleast1month,WemaycancelthePolicy.
Instalment Premium Service Fee
InsomecasesaservicefeewillapplywhereYouselecttopayYourPremiumbyinstalments.WetellYouthetotalamountpayablewhenYouapplyandwhenandhowitcanbepaid.ThisisconfirmedintheScheduleWeissuetoYou.
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How to make a claimIfYouneedtomakeaclaimunderthePolicy,pleaserefertotheClaimsSectiononpage15.
Cancellationa) YoumaycancelthePolicyatanytimebynotifyingUs
inwriting;
b) WehavetherighttocancelthePolicywherepermittedbylaw.
Where the Insurance Contracts Act 1984 applies WecancancelthePolicy:
• ifYoufailedtocomplywithYourDutyofDisclosure;or
• whereYouhavemadeamisrepresentationtoUsduringnegotiationspriortotheissueofthePolicy;or
• whereYouhavefailedtocomplywithaprovisionofthePolicy,includingpaymentofPremium;or
• whereYouhavemadeafraudulentclaimunderYourPolicyorundersomeothercontractofinsurancethatprovidescoverduringthesameperiodoftimethatOurPolicycoversYou.
IfWedecidetocancelYourPolicyWewillgivewrittennoticetoYoupersonallyorbyposttoYourlastknownaddressor,Yourintermediaryasmaybeappropriate.Suchnoticewillbeeffectivefrom4pmonthethirdbusinessdayafterthedayitisgiventoYou,unlessitspecifiesalaterdate.
IntheeventthatYouhavemadeaclaimunderthePolicyandWehaveagreedtopaythefullSumInsured,noreturnofPremiumwillbemadeforanyunusedportionofthePremium.
IfYouorWecancelthePolicyWemaydeductaprorataproportionofthePremiumfortimeonrisk,reasonableadministrativecostsrelatedtotheacquisitionandterminationofYourPolicyandanygovernmenttaxesordutiesWecannotrecover.
Where the Marine Insurance Act 1909 applies WheretheMarineInsuranceAct1909applies,Wemay
cancelthisPolicyintheeventofnon-paymentofthePremiumorforanyotherreasonavailableatlaw.
c) IfWedecidetocancelYourPolicyWewillgivewrittennoticetoYoupersonallyorbyposttoYourlastknownaddressorYourintermediaryasmaybeappropriate.SuchnoticewillbeeffectivefromtheexpiryofthestipulatedperiodcalculatedfrommidnightofthedayonwhichnoticeofthecancellationisissuedbyortoUs.ApostednoticeisdeemedgiventoYouatthetimeitwouldhavebeendeliveredinthenormalcourseofthepostalservice.
d) IntheeventthatYouorWecancelthePolicy,WemayelecttoapplyaminimumPremiumprovisionadvisedtoYouatthetimeYoutookoutthePolicywithUs,ordeductaprorataproportionofthePremiumfortimeonrisk,reasonableadministrativecostsrelatedtotheacquisitionandterminationofYourPolicyandanygovernmenttaxesordutiesWecannotrecover.IntheeventthatYouhavemadeaclaimunderthePolicyandWehaveagreedtopaythefullSumInsured,noreturnofPremiumwillbemadeforanyunusedportionofthePremium.
e) IfthePremiumhasbeenfundedbyaPremiumfundingcompanywhichholdsalegalrightoverthePolicybyvirtueofanoticeofassignmentand/orirrevocablepowerofattorney,arefundwillbemadetothePremiumfundingcompanyinaccordancewiththeprovisionssetoutabove.
Privacy noticeAtAllianz,WegiveprioritytoprotectingtheprivacyofYourpersonalinformation.WedothisbyhandlingpersonalinformationinaresponsiblemannerandinaccordancewiththePrivacy Act 1988 (Cth).
How We collect Your personal information
WeusuallycollectYourpersonalinformationfromYouorYouragents.WemayalsocollectitfromOuragentsandserviceproviders;otherinsurersandinsurancereferencebureaus;peoplewhoareinvolvedinaclaimorassistUsininvestigatingorprocessingclaims,includingthirdpartiesclaimingunderYourPolicy,witnessesandmedicalpractitioners;thirdpartieswhomaybearranginginsurancecoverforagroupthatYouareapartof;lawenforcement,disputeresolution,statutoryandregulatorybodies;marketinglistsandindustrydatabases;andpubliclyavailablesources.
Why We collect Your personal information
WecollectYourpersonalinformationtoenableUstoprovideOurproductsandservices,includingtoprocessandsettleclaims;offerOurproductsandservicesandthoseofOurrelatedcompanies,brokers,intermediariesandbusinesspartnersthatmayinterestYou;andconductmarketorcustomerresearchtodeterminethoseproductsorservicesthatmaysuitYou.YoucanchoosenottoreceiveproductorserviceofferingsfromUs(includingproductorserviceofferingsfromUsonbehalfofOurbrokers,intermediariesand/orOurbusinesspartners)orOurrelatedcompaniesbycallingtheAllianzDirectMarketingPrivacyServiceLineon1300360529,EST8am-6pmMondaytoFriday,orgoingtoourwebsite’sPrivacysectionatwww.allianz.com.au.
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Who We disclose Your personal information to
WemaydiscloseYourpersonalinformationtootherswithwhomWehavebusinessarrangementsforthepurposeslistedintheparagraphaboveortoenablethemtooffertheirproductsandservicestoYou.Thesepartiesmayincludeinsurers,intermediaries,reinsurers,insurancereferencebureaus,relatedcompanies,ouradvisers,personsinvolvedinclaims,externalclaimsdatacollectorsandverifiers,partiesthatWehaveaninsuranceschemeinplacewithunderwhichyoupurchasedyourpolicy(suchasafinancierormotorvehiclemanufacturerand/ordealer).Disclosuremayalsobemadetogovernment,lawenforcement,disputeresolution,statutoryorregulatorybodies,orasrequiredbylaw.
Disclosure overseas
YourpersonalinformationmaybedisclosedtoothercompaniesintheAllianzGroup,businesspartners,reinsurersandserviceprovidersthatmaybelocatedinAustraliaoroverseas.Thecountriesthisinformationmaybedisclosedtowillvaryfromtimetotime,butmayincludeCanada,Germany,NewZealand,UnitedKingdom,UnitedStatesofAmericaandothercountrieswheretheAllianzGrouphasapresenceorengagessubcontractors.WeregularlyreviewthesecurityofOursystemsusedforsendingpersonalinformationoverseas.Anyinformationdisclosedmayonlybeusedforthepurposesofcollectiondetailedaboveandsystemadministration.
Access to Your personal information and complaints
YoumayaskforaccesstothepersonalinformationWeholdaboutYouandseekcorrectionbycalling1300360529EST8am–6pm,MondaytoFriday.OurPrivacyPolicycontainsdetailsabouthowYoumaymakeacomplaintaboutabreachoftheprivacyprinciplescontainedinthePrivacy Act 1988 (Cth)andhowWedealwithcomplaints.OurPrivacyPolicyisavailableatwww.allianz.com.au.
Telephone call recording
Wemayrecordincomingand/oroutgoingtelephonecallsfortrainingorverificationpurposes.WhereWehaverecordedatelephonecall,WecanprovideYouwithacopyatYourrequest,whereitisreasonabletodoso.
General Insurance Code of PracticeTheGeneralInsuranceCodeofPracticewasdevelopedbytheInsuranceCouncilofAustraliatofurtherraisestandardsofpracticeandserviceacrosstheinsuranceindustry.WekeenlysupportthestandardssetoutintheCode.YoucanobtainmoreinformationontheCodeofPracticeandhowitassistsYoubycontactingUs.Contactdetailsareprovidedonthebackcoverofthisdocument.
Dispute resolution process – helping You solve any problemsComplaintsordisputesarenotaneverydayoccurrenceatAllianz.WestrivetodothingstherightwayandkeepOurcustomershappy.
Sometimesthough,complaintsordisputesdooccurandwhenthishappens,Ourobjectiveistoresolveanydisagreementasamicablyandasquicklyaspossible.WebelievethebestwaytoachievethisistoprovideYouwithanopportunityforanunbiasedreviewoftheissue.
Here is what to do if a complaint or dispute arises
RegardlessofwhetherthecomplaintordisputeinvolvesOurstaff,anagent,lossadjuster,assessor,investigatorortheserviceWeprovide,simplycontactUson132664EST8am-6pm,MondaytoFriday,speaktooneofOuroperatorsandprovidethemwiththedetailsoftheissueconcerningYou.Theywillattempttoresolvethecomplaintordispute;iftheyareunabletodosotheywilllogitandreferittotheappropriatebusinessunitforresolution.
WithinOurorganisationWehaveestablishedacomplaintsanddisputesresolutionprocess.Thisisafreeservice.Itisasystemdesignedtolog,track,escalateandmonitorcomplaintsreceivedfromclientsandcustomersaboutOurservicesandproducts.AstaffmemberinvolvedinthecomplaintsanddisputesresolutionprocesswillwritetoYouwithin15workingdaysadvisingtheoutcomeofthereviewandreasonsfortheirdecision.WedonotconsideracomplaintordisputetoberesolveduntilaproposedresolutionorsolutionhasbeencommunicatedtoYouandYouhaveacceptedtheresolutionorsolution.
If You are not satisfied with the outcome of this process
IfWeareunabletoresolvethecomplaintordispute,WewilladviseYouaboutanyexternaldisputeresolutionoptionsthatareavailableoradviseYoutoseekindependentlegaladvice.
If this insurance has been issued through an insurance intermediaryIfYourPolicyhasbeenissuedthroughOuragent,orabrokerwhoisactingunderanagencyarrangementsuchasabinderwithUs,thentheyareactingasOuragentandnotasYouragent.
IfYourPolicyhasbeenissuedbyabroker,otherthanabrokeractingundersuchanagencyarrangementwithUs,thenthebrokerisactingasYouragent.
WherethisPolicyhasbeenarrangedthroughanintermediaryacommissionispayablebyUstothemforarrangingtheinsurance.
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Words with special meaningAgreed Value meanstheamountspecifiedintheScheduleasthevalueoftheVessel(s)insuredThisamountisagreedbybothYouandUsinwritingandvaliduntilthenextrenewaldate.IfYouobtainanAgreedValuePolicyratherthanaMarketValuePolicy,intheeventofatotalorconstructivetotallossWewillpayYouuptotheamountWeagreewithYouforYourVessel.
Crew meansanypersonincludingtheskipperworkingonboardtheVesselasanemployee.
Damage meansanyformofphysicalharmtotheVessel.
Deductible/Excess meanstheamountpayablebyYouforeachandeverylossrecoverableunderthisPolicyasspecifiedintheSchedule,thisPolicyoranyEndorsementtothisPolicywhichWewilldeductfromtheclaimsettlement.WhereanExcessisexpressedasaspecifiedsumitmeanstheamountspecified.WheretheExcessisexpressedasapercentageitmeansthemonetaryequivalentofsuchpercentageofeachloss.Whereaclaimismadeinrespectofmorethanoneoccurrence,theExcesswillapplyasthoughaclaimwasmadeforeachseparateoccurrence.
Diving Equipment meansmasks,snorkels,tanks,regulators,buoyancycompensationdevice,finsandflippers,wetanddrysuits,pumps,compressorsandothersimilarequipmentusedforthepurposeofrecreational/sportdivingownedbyYou.
Equipment and Accessories meansitemsmanufacturedandintendedforuseonYourVesselwhichareportableornotpermanentlyattachedtotheHull.
Equipmentincludes:equipmentfittedorcarriedontheVesselinaccordancewithstatutory/safetyrequirementsand/orasusedwiththenavigationandoperationoftheVesselincluding:
• lifesavingequipment;
• autopilot;
• navigationequipment;
• depthsounders;
• globalpositioningsystem;
• marineradios/transceivers;
• Tools;
butexcludingSports,FishingorDivingEquipmentunlessagreedandspecifiedintheSchedule.
Accessoriesincludes:
• anchors;
• batteries;
• paddlesandoars;
• portablefuelcontainers;
• Vesselcoversandcanopies.
PersonalEffects/PropertyasdefinedbelowareexcludedfromthisdefinitionofEquipmentandAccessories.
Endorsement meansdocumentaryevidenceofanamendmenttothisPolicyortheSchedulewhichformspartofthePolicy.
Fishing Equipment meansrods,reels,tackleandothersimilarequipmentusedforthepurposeofrecreational/sportfishingownedbyYou.
Geographical Area/Limits meansthegeographicalareaofoperationspecifiedintheSchedule,butunlessotherwiseagreedandspecifiedinthePolicySchedulenotexceedingthelesserof:
• thoselimitsasdefinedinYourlicencetooperate;
• 250nauticalmilesofftheAustralianmainlandandTasmania.
Hull meansthestructureoftheVesselincludingdeck(s),cabin(s),superstructure,fixturesandfittingsthatarenotnormallyremovableandnormallysoldwiththeHullincludingitsMotor(s)/MachineryandEquipmentandAccessories.
Insured Event meansaneventorcauseoflossspecifiedinthePolicyand/orInstituteClausesspecifiedintheSchedule,forwhichWeareprovidingcover.
Institute Clauses meansthestandardwordingsaspreparedbytheLloyd’sMarketAssociationandInternationalUnderwritingAssociationofLondon.AnyInstituteClausesreferredtointhePolicyortheScheduleoranyotherdocumentaredeemedtobethosemostcurrentatthetimeofattachmentoftheriskandareamendedtobesubjecttoAustralianlawandpractice.Intheeventofanyoftheseclausesbeingalteredoraddedto,newclausesshallautomaticallyformpartofthisPolicy,unlessthealterationoradditionreducesYourcoverinwhichcaseYoushallbeadvisedinwriting.
Insured Value meanstheamountspecifiedinthemostrecentlydatedScheduleasbeingthevalueoftheVessel(s)insured.
Latent Defect meansanyflawinthematerialusedintheconstructionoftheHullandsuperstructure,Motor(s)/Machinery,sails,masts,spars,standingandrunningriggingoftheVesselthatisnotknowntoYouandisnotdiscoverablebyacompetenttradespersoncarryingoutanormalinspection.
Legal Liability/Legally Liable meansYourresponsibilityinlawarisingoutoftheuseoftheVesseltopaycompensationfordeathorinjuryorforDamagetothepropertyofotherpeople,excludinganypropertyownedbyorinYourphysicalorlegalcontrol.
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Limit of Indemnity meansthemonetarylimitsspecifiedintheScheduleforDamagetotheVessel.TheLimitofIndemnityisinclusiveofandnotadditionaltoanyapplicableDeductible.
Limit of Liability meanstheamountstatedintheScheduleasapplicabletoLegalLiability(P&I)cover.ThisisthemaximumamountWewillpayforanyonelossorseriesoflossesarisingfromtheoneeventforallLegalLiabilitydirectlyorindirectly.
Market Value meansthesalevalueoftheVesselimmediatelypriortotheclaimedlossorDamagetakingintoaccounttheconditionandlocationoftheVessel.IfYouobtainaMarketValuePolicyWewillpayYouuptoOurassessmentofthesalevalueofYourVessel.YourVesselisinsuredonaMarketValuebasisunlessWehaveagreedtoinsureitforAgreedValue.
Motor(s)/Machinery meansinboardand/oroutboardmotors,sterndriveunits,jetunits,gearboxes,propellers,shafts,skegs,fueltanksandlines,wiringharnessandinstruments,fixedgeneratorsandrefrigerationmachineryincludingancillariesnecessaryfortheoperationoftherefrigerationmachinery.
Period of Insurance meanstheperiodcommencingontheeffectivedateandendingat4pmintheStateorTerritoryofAustraliainwhichthePolicyisissuedontheexpirydateasshowninthemostrecentlydatedSchedule.
Personal Effects/Property meansclothingandpersonalaccessories,waterproofgear,shoes,hygieneitems,foodanddrinkanditscontainers(includingthermosflasks,eskiesandmobilefridges),camerasandpersonalentertainmentequipment(e.g.DVD/CDplayers,iPodsorMP3players).
PersonalEffects/Propertydoesnotinclude:moneyoranynegotiabledocuments/documentsthatrepresentmoney,creditcards,watchesandjewellery,spectacles,sunglasses,mobilephones,pagers,laptopcomputersorPDAs/tablets,mobileGPSunits,compactdiscs,audioorvideotapes,preciousmetalsorstones.
Policy meansthisdocumentandanyEndorsement,theInstituteClauses,oranyotherclausesand/orWarranties,specification,attachmentormemorandaaffixedtoit,theScheduleandtheProposal.
Premium meansthePremiumspecifiedinthecurrentScheduleandanyEndorsementPremiumplusanyapplicablegovernmentcharges.
Proposal meanstheapplicationformcompletedbyYouorthequotationslipsubmittedonYourbehalfinwhichYourovidedtheinformationuponwhichWereliedtoenterintothePolicy.
Salvage hasadualmeaningwhichiseitherwhatisleftoftheVesselafterithassufferedlossorDamage,orthephysicalactofrecoveringaVesselwhichhasbeenlostorDamaged,butwhereithasaresidualcommercialvalue.SalvagecostsarethecostsassociatedwithrecoveringtheVessel(Salvageoperations).
Schedule meansthemostrecentlydatedscheduleWehaveprovidedtoYouwhichspecifiesimportantinformationsuchasthePolicynumber,GeographicalAreaofoperations,thedetailsoftheHull(s),theInsuredValue,theInstituteClausesandoranyotherclauses,Warranty(ies)(ifapplicable)andanyDeductiblepayable.
Seaworthy meanstheVesselisreasonablyfitinallrespects,includingtheHull,Motor(s)/Machinery,EquipmentandAccessoriesduringoperationoratmooringtoencountertheordinaryperilsoftheprotectedwaters,inlandwaters,riversorlakes,theseaandportsinwhichitwillbeoperating.
Sports Equipment meanswater-skiingandaquaplaningtogetherwithassociatedequipment.
Tender meansanauxiliaryboatordinghy(includingMotor)whichiscarriedondeckortowedbehindYourVesselthatisusedasalifeboatorbywayoftransportationtoYourVessel,excludingpersonalwatercraft(jetskis)unlessagreedandextendedinwriting.
Tools meanstoolskeptpermanentlyonYourVesselforemergency,breakdownandmaintenancepurposes.
Trailer meanstheTrailernotedascoveredintheScheduleanditswinchincludingpowerwinch
Usage meansthecommercialoperationswhichtheVesselisnormallyengaged,asYouhavedeclaredtoUs.ThisautomaticallyincludesvoluntaryrescueworkandincidentalprivateusebyYouorYourauthorisedemployees.
RegardlessofdeclaredUsage,WedonotcoverYouunderthisPolicyinrespectofanyliabilityassociatedwithbusinessactivitiesotherthantheoperationoftheVesselitselfincluding:
• Anyunderwateractivity(diving);
• Anyconstructionactivity(e.g.piledriving/dredging);
• Sportsparticipation(skiing,aquaplaningetc)ortouristinwateractivities.
Vessel meansthecraft/vesselsnamedintheScheduleandincludes:
• Hull,MotorsandMachinery;
• EquipmentandAccessories(excludingSports,FishingandDivingEquipment,unlessagreedandspecifiedintheSchedule);
• sails,masts,spars,boomsandfittings,standingandrunningrigging,whereapplicable;
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CoverWe agree to provide You with insurance as described in this Policy and/or the most recently dated Schedule, for the Period of Insurance and any subsequent period where renewal may be agreed, based on the information provided to Us by You or on Your behalf.
This insurance provides coverage in accordance with the terms and conditions of the Policy including any Institute Clauses referenced in the Schedule whilst the Hull(s) is operating within the Geographical Area of operations shown in the Schedule, plus the following, as applicable.
Deliberate DamageThePolicyisextendedtocoverYoufordeliberateDamagebyFederal,StateorLocalauthoritiesexercisingtheirrightsundercurrentlegislationinordertopreventorminimiseanenvironmentalhazard/pollutionresultingfromanInsuredEventprovidedthishasnotresultedfromlackofduediligencebyYou,ownersormanagers.
Fixed Fire Appliance Discharge ClauseThePolicyisextendedtocovercleanupcostsupto$5,000eachclaimanyoneaccidentoroccurrenceduringthecurrencyofthePolicyarisingfromand/orlossorDamagecausedbysudden,spontaneousandcompletedischargeofanypermanentlyfixedfiresuppressionappliancefittedonboardtheVessel(s)intheabsenceofanyfire,explosionorothereventdeemedtobeafireappliancesystemtrigger,butexcludingwherethefiresuppressionapplianceisbeingtested,fitted,maintained,rechargedorotherwiseinuseorbeingworkedupon.
Fishing/Sports EquipmentWhenspecifiedintheSchedule,thisPolicyisextendedtoindemnifyYoufor:
a) accidentalDamagetoYourSports,FishingandDivingEquipmentwhilstonYourVessel(excludingaccidentalDamageoccurringduringuse);and
b) theftofYourSports,FishingandDivingEquipmentprovidedthereisvisibleevidenceofforcibleandviolententryintothesecurelylockedVesselorasecurelylockedcompartmentwithintheVesselinwhichtheSports,FishingandDivingEquipmentisstored;
occurringduringthePeriodofInsurance.
ThemaximumamountWewillpayisthe$25,000intotalwithalimitof$2,500foranyoneitem.
• Trailer(ifspecificallynotedascoveredontheSchedule);
• Tenderorlifeboats(uptoamaximumdesignedspeednotexceeding50knots).
InthecaseoftwoormorecraftbeingnamedintheSchedule,eachcraftisdeemedtobeseparatelyinsured.
Warranty(ies) meansYouwillundertakethatsomeparticularthingshallorshallnotbedoneorthatsomeconditionsshallbefulfilledorthatYouaffirmornegativetheexistenceofaparticularstateoffacts.TheWarrantymaybeexpressorimplied.
We, UsorOur,Insurer,UnderwritermeanstheInsurerAllianzAustraliaInsuranceLimited(Allianz)AFSLicenceNo.234708ABN15000122850of2MarketStreet,Sydney,NSW,2000throughitsagentAllianzMarine&TransitUnderwritingAgencyPtyLimited.
You orYour, InsuredmeansanypartyspecifiedintheSchedule.
WheretheInsurediscomprisedofmorethanoneentity,theterm“You”willbeconsideredasapplyingtoeachentityinthesamemannerasthoughaseparatePolicyhadbeenissuedtoeachentity,however,OurLimitOfLiabilityshallnotexceedtheSumInsuredspecifiedintheScheduleandOurliabilitytomakesupplementarypaymentswillapplyasthoughtherewerenotseparatepoliciesissuedtoeachentity.
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Leased Equipment Clause (excluding Fishing, Diving and Recreational Equipment)ThisinsuranceisextendedtocoverEquipment,machineryandapparatusnotownedbyYoubutinstalledforuseontheVesselandforwhichYouhaveassumedliabilitybutOurliabilityunderthisPolicywillnotexceedthecontractualliabilityYouhaveforsuchequipment,machineryorapparatus.AllEquipment,machineryorapparatusinstalledontheVesselandnotownedbyYoushallbeincludedintheSumInsuredoftheVessel(s).
Negligent/wrongful act by Hirers/CharterersProvidedthelossorDamagehasnotresultedfromlackofduediligencebyYouortheVesselownersormanagers,Wewillcoverthewrongfulactormisconductofahirer,chartererormemberofamanagedrecreationalboatinggroupwhoisusingtheVessel,provided:
• Youdonotrevealtheexistenceofthisadditionalbenefittocharterers/hirers;
• YouassistUsinallrespectstopursuerightsofrecoveryagainstcharterers/hirersand/orotherresponsiblethirdparties.
Passenger Liability ExtensionWherenotedintheSchedule,WeagreetoindemnifyYouuptotheLimitofLiabilityspecifiedforanysumorsumswhichYoushallbecomeLegallyLiabletopaytopassengerspursuanttotheInstituteClauseslistedinthePolicyScheduleincludingpassengers’baggageandpassengers’PersonalEffectsbutexcludinganyliability,costsorexpensearisinginrespectof:
(i) instruction,adviceorrecommendationofanykindwhatsoevergiventoortasksundertakenbypassenger(s)undergoingtrainingforanyactivity,includingbutnotlimitedtosailingandseamanship;
(ii) passengersengagedindiving,swimming,snorkelling,water-skiing,boomnetting,para-sailingoranyotheraquasportorlandactivityunlesscausedbysuchpassenger(s)beingrundownbytheVessel(s);
(iii)instruction,adviceorrecommendationofanykindwhatsoevergiventoorcausedbytheuseofEquipmentorAccessorieswhilstthePassenger(s)is/areparticipatingindiving,swimming,snorkelling,water-skiing,boomnetting,para-sailingoranyotheraquasportorlandactivity.
Personal and Crew propertyIfaclaimispaidunderthisPolicyforlossorDamagetoYourVessel,WewillalsocoverYouforlossorDamagetoYourPersonalPropertyorPersonalPropertybelongingtoYourCrewwhichwason-boardYourVesselatthetimeofsuchloss.Wewillpayupto$1,000foreachclaimantuptoamaximumof$5,000intheaggregate,eachandeverylossorseriesoflossescausedbytheoneInsuredEventinadditiontotheSumInsuredspecifiedintheSchedule.
Shore CoverWewillcoverlossorDamagetopartsoftheVesselremovedforthepurposesofrepair,overhaulorservicingwhilsttheyareashoreandduringtransitfromandtotheVesselforthatpurpose.
Transit CoverWewillcoverAccidentalDamagetoYourVessel:
• whilstintransitontheVessel’sownTrailerprovidedtheVesselisdesignedtobenormallytraileredandYoucomplywithallstatutoryrequirements;or
• whilstbeingtransportedbyaprofessionalroadhaulierprovidingYouhaveadvisedUsbeforehandandWehaveagreedtoextendthecoverinwriting.WemayrequireavariationtoYourstandardExcessandanadditionalPremium.
ThisextensiondoesnotprovidecoverforanyliabilitytothirdpartiesarisingfromthelandtransportoftheVessel.
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Radioactive, nuclear, asbestos5. thisPolicyexcludesanyloss,Damage,destruction,
death,injury,illness,liability,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtoorby,resultingfrom,arisingoutoforinconnectionwithfromanyofthefollowing:
(i) ionisingradiationsfromorcontaminationbyradioactivityfromanynuclearfuelorfromanynuclearwasteorfromthecombustionofnuclearfuel;
(ii) theradioactive,toxic,explosiveorotherhazardousorcontaminatingpropertiesofanynuclearinstallation,reactororothernuclearassemblyornuclearcomponentthereof;
(iii) anyweaponordeviceemployingatomicornuclearfissionand/orfusionorotherlikereactionorradioactiveforceormatter;
(iv) theradioactive,toxic,explosiveorotherhazardousorcontaminatingpropertiesofanyradioactivematter.Theexclusioninthisclause(iv)doesnotextendtoradioactiveisotopes,otherthannuclearfuel,whensuchisotopesarebeingprepared,carried,stored,orusedforcommercial,agricultural,medical,scientificorothersimilarpeacefulpurposes;
(v) anychemical,biological,bio-chemicalorelectromagneticweapon;
(vi) anyactualorallegedliabilitywhatsoeverforanyclaimorclaimsinrespectoflossorlossesdirectlyorindirectlyarisingoutof,resultingfromorinconsequenceof,orinanywayinvolving,asbestos,oranymaterialscontainingasbestosinwhateverformorquantity.
ThisPolicyalsoexcludesanyloss,Damage,destruction,death,injury,illness,liability,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtoorby,resultingfrom,arisingoutoforinconnectionwithanyactiontakenincontrolling,preventing,suppressing,retaliatingagainst,orrespondingtoorinanywayrelatingtoexclusionsi)tovi).
Cyber6. liabilityorexpensedirectlyorindirectlycausedbyor
contributedtobyorarisingfromtheuseoroperation,asameansforinflictingharm,ofanycomputer,computersystem,computersoftwareprogramme,maliciouscode,computervirusorprocessoranyotherelectronicsystem.However,inrespectofwarperilscoveredbythePolicy,thisexclusiondoesnotapplytotheuseofanycomputer,computersystemorcomputersoftwareprogrammeoranyotherelectronic
General exclusionsThe exclusions contained within the Institute Clauses described in the Schedule and forming part of this Policy shall be paramount where they conflict with any terms contained in this exclusion section of the Policy.
ThisPolicydoesnotcoveranyloss,Damage,destruction,liability,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtobyorarisingfromwhen:
Outside agreed limits1. YourVesselisoutsidetheGeographicalAreaspecified
intheScheduleunlessYouhaveadvisedUsandWehaveagreedtoextendcoverinwriting.ThisexclusionwillnotapplywhereYourVesselgoesbeyondtheGeographicalAreaspecifiedintheSchedule:
• asaresultofcircumstancesbeyondthereasonablecontrolofthepersoninchargeorcontrolofit;or
• toreasonablyrespondtoanunforeseenemergency.
Wewillcontinuetoprovidecover,providedthatassoonaspossible:
• YourVesselreturnswithintheGeographicLimits(exceptinthecaseofTotalLoss);and
• YounotifyUsofthecircumstancestakingitbeyondtheGeographicLimits.
YourPolicywillbeautomaticallysuspendedwhenYourVesselclearsAustralianorNewZealandCustomsandImmigrationforthepurposeofleavingAustralianorNewZealandwatersandwillrecommencewhenitclearsAustralianorNewZealandCustomsandImmigrationonreturn(unlessYouadviseUsandWeagreetoextendcoverinwriting).
Usage2. YourVesseloperationsaremateriallydifferenttothose
originallydeclaredtoUsunlessWehaveagreedtoextendcovertosuchoperations;
3. YourVesselistowinganotherVessel(s)forhireorreward,unlessthecircumstancesweredeclaredtoandagreedbyUs;
Major repairs4. YourVesselisundergoingmajorHullrepairor
undergoingalterationtotheHullunlessYoutellUsbeforehandinwritingandWeagreeinwritingtoinsureYou;
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systeminthelaunchand/orguidancesystemand/orfiringmechanismofanyweaponormissile.
Terrorism7. anyactofterrorismarisingdirectlyorindirectlyout
oforinanywayconnectedwithbiological,chemical,radioactive,ornuclearpollutionorcontaminationorexplosion;or
8. anyactioncontrolling,preventing,suppressing,retaliatingagainstorrespondingtoanyactreferredtoin7.above.
Anactofterrorismincludes,butisnotlimitedto,anyact,preparationinrespectofactionorthreatofaction,designedto:
(i) influenceagovernmentoranypoliticaldivisionwithinitforanypurpose;and/or
(ii) influenceorintimidatethepublicoranysectionofthepublicwiththeintentionofadvancingapolitical,religious,ideologicalorsimilarpurpose.
Property (physical Damage) exclusionsWewillnotcoverYoufor:
Undeclared risks
a) anyVesselsnotlistedontheSchedule;
b) lossorDamagetoSports,Fishing,DivingEquipment,(unlessagreedandspecifiedintheSchedule);
Vessel Condition
c) pre-existingDamage(i.e.occurringpriortocommencementofthisPolicy);
d) lossorDamagecausedbytheVesselbeingUnseaworthyorarisingfromlackofmaintenance;
e) anyreductioninvalueofYourVesselduetotheVessel’sage,conditionorbecauseofrepairsorunrepairedDamage;
Consequential Loss
f) delay,lossofmarket,financialorconsequentiallossoranyothersecondaryfinanciallossofanydescriptionsustainedbyYou;
g) emotional,psychologicalorsentimentallosswhichoccursduetolossorDamagesustainedtoYourVessel.
h) LossofdatafromanycomputerhardwareorsoftwareunlessthereisvisibleexternalphysicalDamage;
Other
i) thecostofimprovingoralteringtheVessel;
j) theftbyapersonYouhavepermittedtouseYourVessel;
k) lossorDamagetosailsandprotectivecoverscausedbythewindwhilesetunlesstherehasalsobeenDamagetothemastsandsparsortheVesselhasbeenstrandedorincollisionorcontactwithanyexternalsubstanceotherthanwater;
Liability (P&I Liability) exclusionsWewillnotcoveranyLegalLiabilityfor:
Crew, employees and family membersa) deathorbodilyinjurytoYouorYourCrew;
b) lossorDamagetopropertyownedbyYouorYourCreworinYour/theirphysicalorlegalcontrolexceptasprovidedunderthePersonalandCrewpropertyextensiononpage10;
c) bodilyinjuryto,ortheillnessordeathof,apersonwhoiscoveredorshouldhavebeencoveredbyanycompulsorycompensationinsurance,includinganycompulsorythirdpartyinsuranceandworkerscompensationinsurance;
Other excluded partiesd) thirdpartypersonalinjuryorpropertyDamagecaused
anytradespersonorcompanyengagedinrepair,serviceormaintenanceofYourVessel;
e) thirdpartypersonalinjuryorpropertyDamagecausedbymarinaoperators,portauthoritiesandthelikeinchargeofYourVesselatthetimeoftheaccident;
f) deathorbodilyinjurytopassengers,passengers’baggageand/orpassengers’PersonalEffectsunlessthePassengerLiabilityExtensionandtheLimitofLiabilityareshowninthePolicySchedule;
Motor vehicle/towing risksg) death,bodilyinjuryorDamageoccurringtoproperty
whiletheVesselisattachedto,oritbreaksawayfromoraccidentallydetachesfromamotorvehicle;
Contractual Liabilityh) acontractthatimposesonYoualiabilitywhichYou
wouldnototherwisehaveunlessthishasbeendeclaredtoUsandWehavespecificallyagreedtoextendcoverforliabilityunderthatcontract;
Fines, penalties etci) anyfineorpenalty,aggravated,exemplaryorpunitive
damages;
Otheri) thecarryingorpassingonofanyinfectiousdiseaseor
virusbyYou,whetheraccidentally,knowingly,wilfully,maliciouslyorotherwiseincludinganylossescausedbyquarantinablediseaselistedintheAustralianQuarantineAct1908orsimilar;
j) underwaterexcavationorconstructionincludingthelifting,cutting,drilling,crushingordepositingofspoiling,orpiledriving.
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Cross LiabilityWhereYouarecomprisedofmorethanoneentity,theterm“You”willbeapplytoeachentityinthesamemannerasthoughaseparatePolicyhadbeenissuedtoeachentity,however,OurLimitofIndemnityshallnotexceedthesumspecifiedintheScheduleandOurliabilitytomakesupplementarypaymentswillapplyasthoughtherewerenotseparatepoliciesissuedtoeachentity.
Due CareAtalltimesYoumusttakeappropriatecareinYourVesseloperationsandtheoperationandmaintenanceoftheVessel(s)inYourcare,custodyorcontrol.
Fraudulent claimsInnocaseshallthisPolicycoverphysicalloss,destruction,deterioration,DamageorexpenseoccasionedbyorhappeningthroughfraudulentordishonestactsbyYouoranyotherpartywithYourknowledge.Wemayrefusetopaythewholeorpartoftheclaimandtotheextentpermittedbylaw,mayalsocancelthePolicy.
GST noticeThisPolicyhasaGSTprovisioninrelationtoPremiumandOurpaymenttoYouforclaims.ItmayhaveanimpactonhowYoudeterminetheamountofinsuranceYouneed.Pleasereaditcarefully.SeekprofessionaladviceifYouhaveanyqueriesaboutGSTandYourinsurance.
Limit of Indemnity
AllmonetarylimitsinthisPolicymaybeincreasedforGSTinsomecircumstances(seebelow).
Claim settlements – Where We agree to payWhenWecalculatetheamountWewillpay,WewillatYourrequesteitherpayYouoranyotherpartyagreedwithYouandWewillhaveregardtotheitemsbelow:
• WhereYouareliabletopayanamountforGSTinrespectofanacquisitionrelevanttoYourclaim(suchasservicestorepairaDamagediteminsuredunderthePolicy)WewillpayfortheGSTamount.
WewillpaytheGSTamountinadditiontotheLimitofIndemnityorotherlimitsshowninthePolicyorinYourSchedule.
IfYourLimitofIndemnityisnotsufficienttocoverYourloss,WewillonlypaytheGSTamountthatrelatestoOursettlementofYourclaim.
WewillreducetheGSTamountWepayforbytheamountofanyinputtaxcreditstowhichYouareorwouldbeentitled.
General conditionsApplicable lawThisPolicyisgovernedbyandshallbeconstruedinaccordancewiththelawsofAustralia.AnydisputerelatingtothePolicyshallbesubmittedtotheexclusivejurisdictionofacompetentCourtwithintheStateorTerritoryofAustraliainwhichthePolicywasissued.
Automatic Reinstatement ClauseWhenWepayaclaimunderthisPolicy,theLimitofIndemnitywillbeautomaticallyreinstatedsubjecttothepaymentofanadditionalPremiumandgovernmentcharges(whereapplicable).
Alteration of riskYoumustgiveUsimmediatenoticeinwritingifthereisanymaterialchangeinthecircumstancesornatureoftheriskscoveredbythisPolicy,ornoclaimarisingafterthechangeshallbepayableunlessWehaveagreedtothechangeinwriting.
AuthorityWemaygivetoandobtainfromanyotherinsurers,insurancereferencebureausandcreditreportingagenciesanyinformationrelatingtoYourcreditorinsurancehistoryaswellasinsuranceclaimsinformation.
Breach of Condition or WarrantyWhere the Insurance Contracts Act 1984 applies
ThelawgivesUsanumberofrightsifYoudonotcomplywiththeconditionsofthisPolicy.InparticularcasesWemaybeableto:
• cancelthePolicy;
• avoidthePolicyfromthecommencementdateofthePeriodofInsurance;
• refusetopayaclaim;
• reducetheamounttobepaidoutonaclaim.
Where the Marine Insurance Act 1909 applies
Warrantiesareconditionswhichmustbeexactlycompliedwith,whethermaterialtotheriskornot.UndertheMarineInsuranceAct1909,whereapplicable,iftheyarenotcompliedwith,then,subjecttoanyexpressprovisionsinthePolicy,WearedischargedfromliabilityasfromthedateofthebreachoftheWarranty,butwithoutprejudicetoanyliabilityincurredbyUsbeforethatdate.
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• WhereWemakeapaymentunderthePolicyascompensationinsteadofpaymentforarelevantacquisition,WewillreducetheamountofthepaymentbytheamountofanyinputtaxcreditthatYouwouldhavebeenentitledtohadthepaymentbeenappliedtoarelevantacquisition.
Disclosure – Input tax credit entitlementIfYouregister,orareregistered,forGSTYouarerequiredtotellUsYourentitlementtoaninputtaxcreditonYourPremium.IfYoufailtodiscloseorunderstateYourentitlement,YoumaybeliableforGSTonaclaimWemaypay.ThePolicydoesnotcoverYouforthisGSTliability,orforanyfine,penaltyorchargeforwhichYoumaybeliable.
Licensing/Registration WarrantyYoumust:
a) complyatalltimeswiththelicensingandregistrationrequirementsofthegoverninglegislationforthecrewing,operationandsafetyoftheVesselaccordingtothetypeandclassofoperationandensurethatitstypeandclassaremaintained;
b) ensuretheVesselisoperatedbyamaster(oranyotherpersoninchargeoftheVessel)whoistheholderofacertificateofcompetencyissuedbytheappropriategovernmentalauthority;
c) obeyanyconditionsattachingorimposedbytheregistrationoftheVesselandensuretheseconditionsarecompliedwithbythedatesstipulatedinthoseconditions.
NoliabilityshallattachtoUswhentheVesselatthetimeofanAccidentdoesnothaveacurrentcertificateofseaworthinessissuedbytheappropriategovernmentauthorityattheportofregistrywherethisisastatutoryrequirement.
Other insuranceIfatthetimeofthelossanotherpolicyisinforcecoveringthesamerisk,Wewillonlypaytheamountinexcessoftheamountthatisrecoveredunderthatotherpolicy,limitedtotheAgreedValue.
Prohibited cover or paymentsIrrespectiveofanyotherprovisionofthePolicy,Weshallnotbedeemedtoprovidecoverorbeliabletopayanyclaimorprovideanybenefit(includingarefundaPremium)hereundertotheextentthattheprovisionofsuchcover,paymentofsuchclaimorprovisionofsuchbenefitwouldcontraveneorotherwiseexposeUstoanypenalty,sanction,prohibitionorrestrictionunderUnitedNationsresolutionsorthetradeoreconomicsanctions,lawsorregulationsofAustralia,NewZealand,theEuropeanUnion,UnitedKingdomorUnitedStatesofAmerica.
Third party interestsYoumustinformUsoftheinterestsofallthirdparties(e.g.financiersorlessors)tobecoveredbythisPolicy.WeprotecttheinterestsofthirdpartiesonlyifYouhaveinformedUsofthemandsuchinterest(s)arenotedinthe≈Schedule.
UnderinsuranceWerequireYoutoinsuretheVesselforthefullvalue.IfYoudonotandtheactualvalueoftheVesselorEquipmentinsuredunderthisPolicyishigherthantheSumInsuredintheSchedule(atthetimeoflossorDamage),WeshallonlypayYoutheproportionalamountthatthetotalvalueofthelossbearstotheSumInsuredspecifiedintheSchedulewording.
Waiver of subrogation rightsWemaynotbeliabletopayanybenefitsunderthisPolicyforlossorDamageifYouagreeorhaveagreedtolimitorexcludeanyrightofrecoveryagainstanythirdpartywhowouldbeliabletocompensateYouwithrespecttothatDamage.
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(iv) WehavetherighttorecoverfromanypersonagainstwhomYoumaybeabletoclaimanymoneypaidbyUs.Wemaytakeoverandconduct,inYournamethedefenceorsettlementofanyclaimandWewillhavefulldiscretionintheconductofanyproceedingsinconnectionwiththeclaim.
How much We payLoss or Damage to Your Vessel
IntheeventofatotalorconstructivetotallossofYourVessel,theamountWewillpaywilldependonwhetherWehaveagreedtoinsureYourVesselforMarketValueorAgreedValue.
• WhereYouhaveinsuredYourVesselonaMarketValuebasis,WewillatOuroption:
(i) repairorreplaceYourVessel;or
(ii) payYouthereasonablecostofrepairingorreplacingYourVessel;or
(iii) payYouuptotheMarketValueofYourVessel.
• WhereYouhaverequestedandWehaveagreedtoinsureYourVesselforAgreedValue,WewillpayYouoranyotherpartyagreedwithYou,atOuroption:
(i) theAgreedValuespecifiedintheSchedule;or
(ii) replacetheVesselwithoneofsimilarageandcondition.
OnceWepayYou,WemaydecidetotakeownershipofanySalvage.
WewillsettleclaimsforpartiallossinaccordancewiththeInstituteClausesspecifiedintheSchedule.
Deductible
TheamountspecifiedintheScheduleastheDeductiblewillbedeductedfromeachandeverylossexceptfortotaland/orConstructiveTotalLossoftheVessel.
ClaimsTheseproceduresareimportant.FailuretofollowthemmightjeopardiseaclaimunderthisPolicy.
NotificationA. YouMUST:
AssoonasYoubecomeawareofany,oranypotentiallossorDamagewhichmayresultinaclaimunderthePolicy,atYourownexpenseactasifYouarenotinsured.Youmust:
(i) takeallmeasuresasmaybereasonableforthepurposeofavertingorminimisinglossorDamagethatwouldbecoveredunderthisPolicy.
WewillreimburseYouforanychargesproperlyandreasonablyincurredinpursuanceoftheseduties;
(ii) immediatelyadviseUsofthelossorDamage.WemaydecidetoappointasurveyororanassessortoinspecttheDamagetodeterminethecause,andwhomightberesponsibleforit.Youshouldco-operatewiththesurveyorfullyasthiswillassistwiththespeedyadjustmentofYourclaim;
(iii) completeOurclaimformifWeaskYouto,andanyotherformandtakeitormailittoOurclaimsdepartmentatanyofOuroffices.
MeasurestakenbyYouorUswiththeobjectofsaving,protectingorrecoveringtheHullinsuredshallnotbeconsideredasawaiveroracceptanceofabandonmentorotherwiseprejudicetherightsofanyparty.
B. YouMUSTNOT:
(i) authorisetherepairorreplacementofanythingwithoutOuragreement;
(ii) releaseanyotherthirdpartyfromliability;
(iii) withoutOurconsent:
• makeoracceptanyofferorpayment,orinanytherwayadmitYouareliable,or
• settleorattempttosettleanyclaim,or
• defendanyclaim.
C. AfterYouhaveadvisedUsofanylossoforDamagetotheVessel:
(i) YoumustcomplywithallPolicytermsandconditionsbeforeWewillmeetanyclaimunderthePolicy;
(ii) onlyWehavetherighttosettleordefendaclaimagainstYoubyanotherparty;
(iii) whenanyotherthirdpartymaybeliable,YoumustadvisethatpartyinwritingthatitisYourintentiontoclaimonthem;
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77172 POL309 AM&T Comercial Hull cov_D1.indd 3 31/03/15 10:05 AM
For all enquiries please call your insurance intermediary
allianzmarineandtransit.com.au
Allianz Marine & Transit Underwriting Agency Pty Limited AFS Representative No. 423910 ABN 98 155 554 279 Level 1, 61 Lavender Street, Milsons Point NSW 2061 as agents of the insurer Allianz Australia Insurance Limited AFS Licence No. 234708 ABN 15 000 122 850 PO
L309
BA/A
M&
T 03
/15
77172 POL309 AM&T Comercial Hull cov_D1.indd 4 31/03/15 10:05 AM
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