POLICY DOCUMENT AUSTRALIAN MARKET
ANNUAL COMBINED CARGO INSURANCE AM&T ONLINE
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REST EASY. OUR KNOWLEDGE RUNS DEEP.
AM&T is a leading specialist in marine and transit insurance.
The team at AM&T are the trusted experts in Australia and New Zealand when it comes to the sometimes complex world of marine and transit insurance.
At AM&T, we provide specialist knowledge, superior service and support, all with the security of knowing your policy is backed by the global strength of Allianz.
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Table of contents Page
Introduction and important notices 3
Introduction 3
AboutAM&TandAllianz 3
OurcontractwithYou 3
Summaryofthecoversavailable 3
UnderstandingYourPolicyanditsimportanttermsandconditions 4
Applyingforcover 4
Renewalprocedure 4
Contactforassistanceorconfirmationofcover 4
YourDutyofDisclosure 5
Alterationofrisk 5
Premium 5
NonpaymentofPremiumbyinstalments–Righttorefuseaclaimand/orcancelYourPolicy 5
InstalmentPremiumservicefee 5
Howtomakeaclaim 5
Cancellation 6
Privacynotice 6
GeneralInsuranceCodeofPractice 7
Disputeresolutionprocess–helpingYousolveanyproblems 7
Hereiswhattodoifacomplaintordisputearises 7
IfYouarenotsatisfiedwiththeoutcomeofthisprocess 7
Ifthisinsurancehasbeenissuedthroughaninsuranceintermediary 7
FinancialClaimsScheme 7
Words with special meaning 8
Section 1 – Transits within Australia 11
TheTransit 11
InsuredEvents 11
OptionA–Accidentaldamage 11
OptionB–Specifiedperils 12
AdditionalbenefitsapplicableonlytoSection1 13
Exhibition/Demonstration 13
Page Livestock–Agistment 13
Livestock–Musteringcosts 13
Livestock–“Wanderingoff” 13
On-forwarding 13
Traveller’sSamples 13
ToolsofTrade 14
YourEmployee’sPersonalProperty 14
Section1exclusions 14
Section 2 – Imports to and exports from Australia 15
TheTransit 15
InsuredEvents 16
Section2exclusions 19
Additionalbenefitsapplicableonlytothissection 19
BuyersContingency(DifferenceinConditions)Clause 19
CertificatesofInsurance/LetterofCreditClause 19
DutyClause 20
FOB/CFRPre-ShipmentClause 20
InsufficiencyofPackingClause 20
SellersInterestClause 20
UnseaworthinessandUnfitnessExclusionModificationClause 21
Conditions common to Sections 1 and 2 21
HowmuchWewillpay 21
Additionalbenefits 22
AccumulationClause 22
AcquiredCompaniesClause 22
Assignment 22
AutomaticReinstatementClause 22
BrandsClause 23
CargoISMforwardingcharges 23
Containerdemurragecharges 23
Debrisremoval/Cleanupcosts 23
DelayedUnpackingClause 23
Expeditingexpenses 23
FumigationandDecontaminationClause 24
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Page Insolvencyofcarriers 24
Interestsofotherparties 24
Lossofinformation/data/media 24
Packaging,containersandequipment 24
Repackingcosts 25
Resecuringcosts 25
SealedContainerClause 25
SortingChargesClause 25
StrikesDiversionExpensesClause 25
SueandLabourClause 25
General exclusions applicable to both Sections 26
Property(Goods)exclusions 26
Perilsexclusions 26
CargoISMEndorsement 27
Nuclear/Terrorism/Cyberexclusions 27
General conditions and cover restrictions applicable to all Sections 28
Applicablelaw 28
Authority 28
BreachofWarrantyorcondition 28
DeclarationofactualTurnoverorSendings 28
DelayorinterruptionbyYou 29
DueCare 29
Exchangerate 29
“Ondeck”shipments 29
Otherinsurance 29
Prohibitedcoverorpayments 29
Subrogation/Rightsofrecovery 29
Waiverofsubrogationrights 29
WarandStrikesVariationClause 30
Claims 30
GSTnotice 30
Claimsprocedures 31
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Introduction and important noticesIntroductionWelcomeandthankYouforchoosingOurAnnualCombinedCargoInsurancePolicy.
Thisisanimportantdocument.Youshouldreaditcarefullybeforemakingadecisiontopurchasethisinsurance.ItwillhelpYouto:
• decidewhetherthisinsurancewillmeetYourneeds;and
• compareitwithotherproductsYoumaybeconsidering.PleasenotethatanyrecommendationoropinioninthisdocumentisofageneralnatureonlyanddoesnottakeintoaccountYourobjectives,financialsituationorneeds.
YouneedtodecideifthisinsuranceisrightforYouandYoushouldreadallofthedocumentsthatmakeupthePolicytoensureYouhavethecoverYouneed.
About AM&T and AllianzTheinsurerisAllianzAustraliaInsuranceLimitedAFSLicenceNo.234708ABN15000122850of2MarketStreet,Sydney,NSW,2000.
AllianzisoneofAustralia’slargestgeneralinsurers.Weutiliseyearsoflocalexpertise,combinedwithglobalexperiencetoofferawiderangeofproductsandservicestoOurcustomers.AsamemberoftheworldwideAllianzGroup,WearecommittedtocontinuousimprovementofOurproductsandservicesandstrivetoachievethisthroughknowledgetransferwithintheGroup,dedicatedtechnicalresearchunits,sharingnewproductdevelopmentsandawiderangeofriskmanagementservicesglobally.
InthePolicydocumentWerefertoAllianzAustraliaLimitedas“We”,“Us”,“Our”and“Allianz”.
AM&T(AllianzMarine&TransitUnderwritingAgencyPtyLimitedABN98155554279,AFSRepresentativeNo.423910ofLevel12,80MountStreet,NorthSydneyNSW2060)isanAustralianorganisationspecialisinginCargo,CommercialHullandMarineLiabilityinsurance.AM&Thavebeengivena“binding”authoritybyAllianztoissue,varyanddisposeofthisinsuranceandsettleclaimsasagentsofAllianzasiftheywereAllianztheinsurer.
Our contract with YouWhereWeagreetoenterintoaPolicywithYouitisacontractofinsurancebetweenUsandYou(seethedefinitionof“You”fordetailsofwhoiscoveredbythisterm).WeonlycoverthosepartiesshownintheScheduleunlessotherwisestatedinthePolicyasbeingapersonorentityentitledtocover.IfmorethanonepersonisinsuredunderthePolicy,afailureorwrongfulactionbyoneofthosepersonsmayadverselyaffecttherightsofanyotherpersoninsuredunderthePolicy.
WecoverYouinaccordancewiththeinsuranceasdescribedinthisPolicy,forthePeriodofInsuranceshownontheScheduleandforanysubsequentperiodwhererenewalmaybeagreed.ThemaximumamountWewillpayunderthePolicywillnotexceedtheSumInsuredshownontheScheduleunlessotherwisespecifiedherein.
YouarerequiredtocomplywiththetermsandconditionsofthePolicy.PleaserememberthatifYoudonotcomplywithanytermorcondition,Wemay(totheextentpermittedbylaw)declineorreduceanyclaimpaymentand/orcancelYourPolicy.
ThePolicyconsistsof:
• thisdocumentwhichsetsoutthestandardtermsofYourcoveranditslimitations;
• YourcurrentScheduleissuedbyUs.TheScheduleisaseparatedocument,whichshowstheinsurancedetailsrelevanttoYou.Itmayincludeadditionalterms,conditionsandexclusionsrelevanttoYouthatamendthestandardtermsofthisdocument;and
• anyotherchangetothetermsofthePolicyotherwiseadvisedbyUsinwriting(suchasanEndorsement).Thesewrittenchangesmayvaryormodifytheabovedocuments.
Theseareallimportantdocumentsandshouldbecarefullyreadtogetherandkeptinasafeplaceforfuturereference.WhenYouenterintothePolicyYouconfirmandwarrantthatYouhavereadorwillreadthePolicydocumentswhenprovidedtoYou.AnyneworreplacementScheduleWemaysendYou,detailingchangestoYourinsuranceorthePeriodOfInsurance,willbecomethecurrentSchedule,whichYoushouldcarefullyreadandretain.
Wereservetherighttochangethetermsofthisinsurancewherepermittedtodosobylaw.
Summary of the covers availablePleasenotethatthisisalimitedsummaryonlyandnotafulldescriptionofthecovers.ThePolicyismadeupoftwosections.YouneedtoreadthecoversectionsandthePolicytoproperlyunderstandthecover.
• Section 1 – Transits within AustraliaThissectioncoversYouforlossofordamagetotheGoodsdescribedintheSchedulewhilstinTransitwithintheGeographicalLimitsspecifiedintheSchedule.
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• Section 2 – Imports to and exports from AustraliaThissectioncoversYouforlossofordamagetotheGoodsdescribedintheScheduleimportedtoAustraliaorExportedfromAustraliaorasotherwiseagreedandspecifiedintheSchedule.
EachofthesesectionsprovidefordifferentvoyagesandConditionsofCoverasdetailedineachsectionofthePolicy.YouneedtoreadthecoversectionsandthePolicytoproperlyunderstandthecover.AsSections1and2maybesubjecttodifferentlaws(e.g.theInsuranceContractsActandtheMarineInsuranceAct),eachsection(comprisingtheinformationcontainedintheSchedule,inthePolicywordingandinanyEndorsement)mustbereadinconjunctionwiththegeneralconditionsandgeneralexclusionsandotherdocumentssettingoutthetermsofthePolicyasthoughitwereaseparatepolicy.
Youarenotautomaticallyinsuredundereachsection.YouareonlycoveredforthesectionsthatarespecifiedintheSchedule.
Understanding Your Policy and its important terms and conditionsToproperlyunderstandthesignificantfeatures,benefitsandrisksofthisinsuranceYouneedtocarefullyread:
• abouteachoftheavailabletypesofcoverandbenefitsandexclusionsintherelevantSectionsOneandTwo(thestandardcoverprovidedundereachsectioncanbeaffectedbythefollowing);
• therestofthis“Introduction”section–thissetsouthowYouapplyforcover,thebasisonwhichWeinsureYou,thedutyofdisclosureYouneedtomeetbeforeWeinsureYou,Ourprivacyinformation,Ourdisputeresolutionproceduresandotherimportantinformation;
• the“Wordswithspecialmeaning”section–thissetsoutwhatWemeanbycertainwordsusedinthePolicy.Thesewordsbeginwithacapitalletterthroughoutthisdocument;
• the“GeneralPolicyexclusionsapplicabletoallsections”section–thissetsoutthegeneralexclusionsandlimitationsthatapplytoallcoversandbenefits;
• the“GeneralPolicyconditionsapplicabletoallsections”and“Claims”sections–thesesetoutcertaingeneralrightsandobligationsthatYouandWehaveandothercoverrestrictions;
• allofthedocumentsthatmakeupthePolicy,includingthePolicyScheduleandanyEndorsementsorotherwrittenchangestothecoverWeissueYouwith–thesecontainspecificdetailsrelevanttoYouandcanaffectthecover.
HeadingsareprovidedforreferenceonlyanddonotformpartofYourPolicyforinterpretationpurposes.
Applying for coverWhenYouapplybycompletingOurapplicationprocessYouneedtoprovidetheinformationWerequiretodeterminewhethertoissueaPolicyandifso,onwhatterms,including(totheextenttheyareoptional):
• thecoversandbenefitsYouwant(includingtheGoodsYouwishtocover);
• thelimitsYouwant;
• theperiodofcoverYouwant;
• whetherYouwantanythirdpartiestobenotedashavinganinterest;
• theExcessesthatYouagreetocontributeforcertainclaims;
• whetheranystandardtermsneedtobevaried(thismaybebywayofanEndorsement).
WhereWeagreetoissueaPolicy,coverisprovidedonthebasis:
• thatYouhavepaidoragreedtopayUsthePremiumforthecoverprovided;
• oftheverbaland/orwritteninformationprovidedbyYouwhichmusthavegiveninaccordancewithYourdutyofdisclosureeitherverballyorinwriting.
Yourdutyofdisclosureandtheconsequencesofnondisclosure,areprovidedundertheheading‘YourDutyofDisclosure’.
Renewal procedureBeforeYourPolicyexpires,WewilladviseYouwhetherWeintendtoofferrenewalandifsoonwhatterms.ThisPolicywordingalsoappliesforanyotherrenewalWemake,unlessWetellYouotherwise.
ItisimportantthatYoucheckthetermsofanyrenewalbeforerenewingtosatisfyYourselfthatthedetailsarecorrect.InparticularchecktheSumInsuredamountstoensurethelevelsofcoverareappropriateforYouandthatthecoversselectedsuitYourneeds,allowingforanychangesinYourbusinesssincethePolicywasoriginallytakenout.
PleasenotethatYouneedtocomplywithYourDutyofDisclosure(seepage5)beforeeachrenewal.Inparticular,YoumustinformUsregardinganychangestotheGoodsbeingshipped,maximumlimitanyoneConveyance,GeographicalLimitsorSendings/Turnover.
Contact for assistance or confirmation of coverIfYouneedtoconfirmanyPolicytransactionorclarifyanyoftheinformationcontainedinthisPolicyor,ifYouhaveanyotherqueries,pleasecontactUsviathedetailsonthebackcover.
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Your Duty of DisclosureBeforeenteringintoacontractofgeneralinsurancewithUs,Youhaveaduty,undertheInsuranceContractsAct1984andtheMarineInsuranceAct1909(asapplicable)todisclosetoUseverymatterwhich:
• Youknow;or
• areasonablepersoninthecircumstancescouldbeexpectedtoknow,
isrelevanttoOurdecisionwhethertoaccepttheriskoftheinsuranceand,ifso,onwhatterms.
Youhavethesamedutytodisclosethosematterstousbeforeyourenew,extend,varyorreinstateacontractofgeneralinsurance.
Thisdutyofdisclosureappliesuntilthecontractisenteredinto(orrenewed,extended,variedorreinstatedasapplicable).
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?
EveryonewhoisinsuredunderthePolicymustanswerthequestionsinthisway.
Alteration of riskWhere the Insurance Contracts Act applies
IfYoubecomeawareofanychangestothefactsorcircumstanceswhichexistedwhenthisinsurancecommencedthatchangethenatureoftherisk(forexample,thenatureofYourbusinessoperations,orothercircumstancesthataffecttheinsuredGoodscarried)inawaythatwouldincreasetheriskoflossordamage
occurringYoumustnotifyUsimmediatelyinwriting.IfWeagreetothechangeWewilldosoinwritingandYoumustpayUsanyadditionalPremiumWerequire.
Where the Marine Insurance Act applies
YoumustgiveUsimmediatenoticeinwritingifthereisanymaterialchangeinthecircumstancesornatureoftheriskscoveredbythisPolicy,ornoclaimarisingafterthechangeshallbepayableunlessWehaveagreedtothechangeinwriting.
PremiumYourPremium–thebasePremiumWechargeiscalculatedbasedonanumberoffactorssuchas:
• typeofGoodstobeinsured,wheretheGoodsaretobetransportedtoandfrom,theSendingsorTurnover,thecoverandSumInsuredrequired,Yourinsurancehistoryetc;
• Ourobligationtopayrelevantgovernmenttaxesandcharges.Forexample,GSTpayableinrelationtothePolicy.
MinimumPremiumsmayapply.WhenYouapplyforthisinsurance,YouwillbeadvisedofthetotalPremiumamountpayable,whenitneedstobepaidandhowitcanbepaid.
ThisamountwillbesetoutintheSchedule,whichwillbesenttoYouaftercommencementofcoverunderthePolicy.IfYoufailtopaythePremiumWemayreduceanyclaimpaymentbytheamountofPremiumowingand/orcancelthePolicy.SpecialrightsandobligationsapplytoinstalmentPremiumpaymentsassetoutbelow.
Non payment of Premium by instalments – Right to refuse a claim and/or cancel Your Policy
WhereYoupayYourPremiumbyinstalments,Youmustensurethattheyarepaidontime.Ifaninstalmenthasremainedunpaidforaperiodofatleastfourteen(14)days,Wemayrefusetopayaclaim.
Ifaninstalmentremainsunpaidforatleast30days,WemaycancelthePolicy.
Instalment Premium service fee
InsomecasesaservicefeewillapplywhereYouselecttopayYourPremiumbyinstalments.WetellYouthetotalamountpayablewhenYouapplyandwhenandhowitcanbepaid.ThisisconfirmedintheScheduleWeissuetoYou.
How to make a claimIfYouneedtomakeaclaimunderthePolicy,pleaserefertothe“Claimsprocedures”sectiononpage31.
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Cancellationa) YoumaycancelthePolicyatanytimebynotifying
Usinwriting.
b) WehavetherighttocancelthePolicywherepermittedbylaw.
Where the Insurance Contracts Act 1984 applies
WecancancelthePolicy:
• ifYoufailedtocomplywithYourDutyofDisclosure;or
• whereYouhavemadeamisrepresentationtoUsduringnegotiationspriortotheissueofthePolicy;or
• whereYouhavefailedtocomplywithaprovisionofthePolicy,includingpaymentofPremium;or
• whereYouhavemadeafraudulentclaimunderYourPolicyorundersomeothercontractofinsurancethatprovidescoverduringthesameperiodoftimethatOurPolicycoversYou.
Where the Marine Insurance Act 1909 applies
a) WemaycancelthisPolicyintheeventofnon-paymentofthePremiumorforanyotherreasonavailableatlawbygivingnoticeasfollows:
Marine Risks Subjectto30daysnoticeofcancellation.
War Risks Subjectto7daysnoticeofcancellation.
StrikesRiotsandCivilCommotionsRisksSubjectto7daysnoticeinwriting,exceptforconsignmentstoand/orfromtheUnitedStatesofAmericawhichissubjectto48hoursnoticeinwriting.
b) IfWedecidetocancelYourPolicyWewillgivewrittennoticetoYoupersonallyorbyposttoYourlastknownaddressor,Yourintermediaryasmaybeappropriate.SuchnoticewillbeeffectivefromtheexpiryofthestipulatedperiodcalculatedfrommidnightofthedayonwhichnoticeofthecancellationisissuedbyortoUsbutshallnotapplytoanyGoodswhichhavecommencedTransitinaccordancewiththeconditionsofthisPolicybeforecancellationbecomeseffective.
ApostednoticeisdeemedgiventoYouatthetimeitwouldhavebeendeliveredinthenormalcourseofthepostalservice.
c) IntheeventthatYouorUscancelthePolicy,WemayelecttoapplytheminimumPremiumprovisionsetoutintheDeclarationofActualTurnoverClauseordeductaprorataproportionofthePremiumfortimeonrisk,reasonableadministrativecostsrelatedtothearrangementofandterminationofYourPolicyandanygovernmenttaxesordutiesWecannotrecover.IntheeventthatYouhavemadeaclaimunderthePolicyand
WehaveagreedtopaythefullSumInsured,noreturnofPremiumwillbemadeforanyunusedportionofthePremium.
d) 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.
Who We disclose Your personal information to
WemaydiscloseYourpersonalinformationtootherswithwhomWehavebusinessarrangementsforthepurposeslistedintheparagraphaboveortoenablethemtooffertheirproductsandservicestoYou.Thesepartiesmayincludeinsurers,intermediaries,reinsurers,insurancereferencebureaus,relatedcompanies,ouradvisers,personsinvolvedinclaims,externalclaimsdatacollectorsandverifiers,partiesthatWehaveaninsuranceschemeinplacewithunderwhichyoupurchasedyourpolicy
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(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 problemsWestrivetodothingstherightwayandkeepOurcustomershappy.
Sometimes,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,WewillofferYoutheoptionofreferringthemattertotheinsuranceindustry’sexternalindependentcomplaintsscheme(subjecttoeligibility).TheschemewillonlyreviewcomplaintsordisputesiftheyhavegonethroughOurinternalcomplaintsanddisputesresolutionprocess.
If this insurance has been issued through an insurance intermediaryIfYourPolicyhasbeenissuedthroughOuragent,orabrokerwhoisactingunderanagencyarrangementsuchasabinderwithUs,thentheyareactingasOuragentandnotasYouragent.
IfYourPolicyhasbeenissuedbyabroker,otherthanabrokeractingundersuchanagencyarrangementwithUs,thenthebrokerisactingasYouragent.
WherethisPolicyhasbeenarrangedthroughanintermediaryacommissionispayablebyUstothemforarrangingtheinsurance.
Financial Claims SchemeIntheunlikelyeventAllianzAustraliaInsuranceLimitedweretobecomeinsolventandcouldnotmeetitsobligationsunderthepolicy,apersonentitledtoclaimmaybeentitledtopaymentundertheFinancialClaimsScheme.AccesstotheSchemeissubjecttoeligibilitycriteria.Moreinformationcanbeobtainedfromhttp://www.fcs.gov.au.
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Words with special meaningAccident or AccidentalmeansaneventoroccurrencewhichresultsinlossordamagetotheGoodsthatYoudidnotintendorexpecttohappenorcouldnotreasonablyhavebeenexpectedbyapersonwithactualknowledgeoftheGoodsandmethodoftransport.
Average or Coinsurancemeans,ifthevalueoftheGoodsinsuredunderthisPolicyshallatthetimeoflossordamagebeofgreatervaluethantheSumInsuredspecifiedintheSchedule,WeshallonlypayYoutheproportionalamountthatthetotalvalueofthelossbearstotheSumInsuredspecifiedintheSchedule.
Basis of ValuationmeanstheagreedformulathatWewillusetocalculatehowmuchWewillpayYouintheeventoflossordamage.ThisisasstatedinthisPolicyonpage21,unlessotherwiseagreedandspecifiedintheSchedule.
Certificate of InsurancemeansthedocumentbearingdetailsofthePolicyeitherissuedbyYouorbyUscertifyingthatinsurancecoversaparticularshipmentofGoods.
CIFisCost,InsuranceandFreight.
CFRisCostandFreight.
Conditions of CovermeansthecoverthatWeareprovidingunderthisPolicyasspecifiedintheSchedule.
Constructive Total Lossmeanseither:
a) theactualtotallossoftheGoodsappearstobeunavoidable;or
b) topreventtheGoodsfrombeingatotallosswouldcostmorethantheirvaluewhenpreserved.
Conveying Vehicle, Conveyancemeansanyship,vessel,aircraft,railandroadtransportusedtotransporttheinsuredGoods,includingYourownvehicleswhereapplicable.
Deliberate Third Party ActThisincludes:
• deliberatedamagebyFederal,StateorLocalauthoritiesexercisingtheirrightsundercurrentlegislationinordertopreventorminimiseanenvironmentalhazard/pollutionresultingfromanInsuredEventandprovidedthishasnotresultedfromYourlackofduediligence;
• thedeliberateactofanypartyotherthanYouwhichwascommittedwithoutYourknowledgeorconnivance.
Due CaremeanstheexercisingbyYouofappropriatelevelsofprudenceandcautionin:
• theselectionof,andprovisionofhandlinginstructionsto,thirdpartytransportserviceproviders;
• theselectionofpackagingappropriatetoprotecttheGoods;
• thehandling,storageandmovementofGoodsbyYouincluding:
(i) securitymeasurestoprotecttheGoodsagainsttheftwhereappropriatebasedonthenatureoftheGoodswhilsteitherinYourvehicleorwhilsttemporarilyremovedfromtheConveyingVehicle;
(ii) themaintenanceofYourConveyingVehicles(includingrefrigerationmachineryandsecuritydevices)inproperrepairandsoundworkingcondition;
(iii) theemploymentofcompetentdriversandotheremployeesinvolvedintransportorhandlingofGoods;and
(iv) thecompliancewithallstatutoryobligations,by-laws,regulationsandstandardsimposedbypublicauthorities.
EndorsementmeansdocumentaryevidenceofanalterationtothisPolicyortheSchedulewhichformspartofthePolicy.
ExcessmeanstheamountpayablebyYouforeachandeverylossrecoverableunderthePolicyasspecifiedintheSchedule,thisdocumentoranyEndorsementtothePolicy.WhereanExcessisexpressedasaspecifiedsumitmeanstheamountspecified.WheretheExcessisexpressedasapercentageitmeansthemonetaryequivalentofsuchpercentageofeachloss.Whereaclaimismadeinrespectofmorethanoneoccurrence,theExcesswillapplyasthoughaclaimwasmadeforeachseparateoccurrence.
Floodmeanstheinundationofnormallydrylandbywateroverflowingfromthenormalconfinesofanynaturalwatercourseorlake,whetherornotalteredormodified,orofanyreservoir,canalordam.
FOBisFreeOnBoard.
General AverageThemaritimelegalprinciplebywhich,shouldtheshipowner,oneormorecargoowners,orotherpartieswithaninterestinpropertyonboardaseagoingvessel,makeanextraordinarysacrificeorexpenditureforthepurposesofpreservingallpropertyatriskatatimeofperil,allpartieswithpropertythathasbeenpreservedbysuchsacrificeorexpenditurecanbecalledupontocontributeaproportionoflossincurred.
Geographical Limit(s)meansthegeographicalareaofoperationspecifiedintheSchedule.ForcoverunderSection1thisislimitedtotransitsstartingandterminatingwithinAustraliaincluding,whereapplicable,seavoyageswithinAustralianTerritorialwatersbetweenAustralianportsorplaces.
Institute ClausesmeansthestandardwordingsaspreparedbytheLloyd’sMarketAssociationandInternationalUnderwritingAssociationofLondon.AnyInstituteClausesreferredtointhePolicyortheScheduleoranyother
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documentaredeemedtobethosemostcurrentatthetimeofattachmentoftheriskandareamendedtobesubjecttoAustralianlawandpractice.Intheeventofanyoftheseclausesbeingalteredoraddedto,newclausesshallautomaticallyformpartofthisPolicy,unlessthealterationoradditionreducesYourcoverinwhichcaseYoushallbeadvisedinwriting.
IfWegiveYouwrittennoticeofarevisionoftheseclause,thentherevisedclauseswillapplytorisksattachingfrommidnight30daysafterOurnoticehasbeengiventoYou.ApostednoticeisdeemedgiventoYouatthetimeitwouldhavebeendeliveredinthenormalcourseofthepostalservice.
Insurable InterestmeansthatYouhavealegalorequitableinterestintheInsuredGoodsinconsequenceofwhichYoumaybenefitbytheirsafetyandbeprejudicedbytheirloss.
Insured,YouorYourmeansanypartyspecifiedinthePolicySchedule.
WheretheInsurediscomprisedofmorethanoneentity,theterm“You”willbeconsideredasapplyingtoeachentityinthesamemannerasthoughaseparatePolicyhadbeenissuedtoeachentity,however,OurlimitofliabilityshallnotexceedtheSumInsuredspecifiedintheScheduleandOurliabilitytomakesupplementarypaymentswillapplyasthoughtherewerenotseparatepoliciesissuedtoeachentity.
Insured Eventsmeansaneventshownintheindividualsectionundertheheading“InsuredEvents”applicabletothesection,andforwhichcoverisavailableunderthatsectiononly.
Insured GoodsorGoodsmeanstheGoodsspecifiedintheSchedulewhichYouownorwhichYouhavecontractuallyacceptedresponsibilitytoinsureandincludes:
• allretailandsalespackaging;
• shippingcontainersownedbyYouorinYourcare,custodyorcontrol,totheextentthatYouarelegallyliabletopayforanyphysicallossofordamagetothecontainer(s)andsubjecttoanysublimitsexpressedinthisPolicyortheSchedule;
• Yourstocktransfers;
• anyreturnGoods,inwardsoroutwards,whereYouhavetheresponsibilitytoinsuretheGoodsinTransit,orhaveassumedthatresponsibilitypriortoanylossordamagetotheGoodsbeingreportedtoYou;
• shippingcontainers;
• TravellersSamplesandToolsofTrade(subjecttoanylimitsexpressedforthesecategoriesofGoodsinthisPolicyortheSchedule).
ThefollowingarenotcoveredunlessYouhavedeclaredthemtoUsandtheyareshownontheSchedule:
• frozen,chilledproductsorperishableproducts;
• Livestock.Wheredeclared,WeareabletocoverinlandmovementsunderSection1ofthisPolicywording,butnotimports/exportsunderSection2;
• bloodstock,prizeanimalsorstudanimals;
• liveplantsandtrees;
• worksofartorantiques;
• cigarettes,tobacco/tobaccoproducts;
• dangerousGoodsasdefinedbythecurrentAustralianDangerousGoodsCodeoranygovernmentagencyorauthoritywhichbytheirnaturerequirespeciallicencingofthedriverorvehicleand/oraredefinedasa“PlacardLoad”.Thisexclusiondoesnotapplytosmallconsignments,limitedquantitiesorretaildistributionloadsofdangerousGoodswhereconcessionisprovidedunderthecurrentAustralianDangerousGoodsCode;
• preciousmetalsandstones,jewelleryormoney(whichmeansanycoinorbanknote);bullion,cheques,creditorothercardsalesvouchers,securitiesorshares;bonds,deeds,billsofexchangeoranydocumentthatrepresentsorisexchangeableformoney;
• householdGoodsandpersonaleffects;
• plantandmachinerytransfer;
• radioactiveGoodsorexplosiveGoods.
Livestockmeanssheep,cattle,goatsandpigsand/orotherherdanimalsasidentifiedinthePolicy.Livestockdoesnotincludehorses,birdsorotheranimals.
LivestockcanbeinsuredforinlandmovementsonlyunderthisPolicy.NocoverisavailableunderSection2.
Period of Insurancemeanstheperiodcommencingontheeffectivedateandendingat4pmintheStateorTerritoryofAustraliainwhichthePolicyisissuedontheexpirydateasshownintheSchedule.
Personal Propertymeansbedding,CB/UHFandscannerradios,foodanddrinkanditscontainers(includingthermos-flasks,eskiesandmobilefridge),clothingandpersonalaccessoriesandhygieneitems,footwearandpersonalentertainmentequipment(e.g.DVD/CDplayers,iPodsorMP3players).
PersonalPropertyexcludesmoneyoranynegotiabledocuments/documentsthatrepresentmoney,creditcards,watchesandjewellery,mobilephones,pagers,laptopcomputersorPDAs/tablets,mobileGPRSunits,preciousmetalsorstones.
PolicymeansthisdocumentandanyEndorsement,specification,attachmentormemorandaaffixedtoit,theScheduleandtheProposal.
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PremiummeansthePremiumspecifiedinthecurrentSchedule,anyEndorsementPremiumandanyadjustmentinaccordancewiththeGeneralCondition–DeclarationOfActualTurnoverorSendingsplusanyapplicableGovernmentcharges.
ProposalmeanstheapplicationformcompletedbyYouorthequotationslipsubmittedonYourbehalfinwhichYouprovidedtheinformationuponwhichWereliedtoenterintothePolicy.
Salvagehastwomeaningssubjecttocontext,beingeither:
• whatisleftoftheGoodsorPersonalPropertyafterithassufferedlossorDamage;or
• thephysicalactofrecoveringGoodsorPropertywhichhasbeenlostorDamaged,butwhichhasresidualcommercialvalue.
SchedulemeansthemostrecentlydatedScheduleWehaveprovidedtoYouwhichspecifiesimportantinformationsuchasthePolicynumber,GeographicalLimits,thoseSectionsthatareinforce,thedetailsoftheInsuredGoods,theSumsInsuredandanyExcesspayable.
SendingsmeansthegrossvalueofinsuredGoodsreceived,consigned,transferredorotherwisemovedduringthePeriodofInsurance.
Subject Matter InsuredasappearingintheInstituteClauseshasthesamemeaningasInsuredGoodsorGoods.
Sum Insured theamountstowhichOurliabilityislimitedbeingtheamountsstatedinthisPolicyortheScheduleforanyonelossorseriesoflossesarisingoutofthesameevent.
Terrorismmeansanyact(s)ofanyperson(s)ororganisation(s)involving:
• thecausing,occasioningorthreateningofharmofwhatevernatureandbywhatevermeans;
• puttingthepublicoranysectionofthepublicinfear,
incircumstancesinwhichitisreasonabletoconcludethatthepurpose(s)oftheperson(s)ororganisation(s)concernedarewhollyorpartlyofapolitical,religious,ideologicalorsimilarnature.
Terrorismshallalsoincludestepstakentoprevent,suppress,controlorreducetheconsequencesofanyactual,attempted,anticipated,threatened,suspectedorperceivedterrorism.
Tools of TradeToolswhichenableYouorYouremployeestocarryoutYournormalbusinessoperation,butexcludingmobilephones,pagers,laptops/notebooks/handheldorotherpersonalcomputers,PersonalProperty,cashandcreditcards.
TransitmeansthevoyagesspecifiedinSections1or2.TheinsuredTransitsarethosespecifiedintheGeographicalLimitsandsetoutintheSchedulesubjecttoanyvoyagetradingrestrictionsapplicabletoexports.
Traveller’s SamplesPortions,piecesorsamplesofYourGoodscarriedbyYoursalesemployeesforthepurposeofdemonstrationtoprospectivecustomers.
TurnovermeansthegrossrevenueofYourbusinessduringthePeriodofInsurance.
We, Us or Our, Insurer or the UnderwritermeansAllianzAustraliaInsuranceLimitedAFSLicenceNo.234708A.B.N.15000122850(Allianz)of2MarketStreet,Sydney,NSW,2000(theInsurerofYourPolicy),throughitsagentAM&T(AllianzMarineandTransitUnderwritingAgencyPtyLimited).
War,Warlike Activitiesmeansinvasion,actofforeignenemy,hostilities(whetherWarisdeclaredornot),civilWar,rebellion,revolution,insurrectionorcivilstrifefollowinganyofthese.
Warranty(ies)meansYouwillundertakethatsomeparticularthingshallorshallnotbedoneorthatsomeconditionsshallbefulfilledorthatYouaffirmornegativetheexistenceofaparticularstateoffacts.TheWarrantymaybeexpressorimplied.
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Section 1 – Transits within AustraliaWewillindemnifyYouforlossofordamagetotheGoodsdescribedintheSchedulewhilstinTransitwithintheGeographicalLimitsspecifiedintheSchedulecausedbyanInsuredEventoccurringduringTransitandduringthePeriodofInsurance.
The TransitGeneral Goods/Temperature controlled Goods
EachinsuredTransitcommenceswhentheinsuredGoodsarefirstmovedinsidethewarehouse/premisesorplaceofstorageforthespecificpurposeofloadingontothe
ConveyingVehiclefortransporttoadestinationoutsidethepremisesatwhichloadingtakesplace,continuesduringtheordinarycourseoftransitandterminateswhen:
• theinsuredGoodsarelastmovedwhenbeingdeliveredtotheintendeddestinationorsuchotherplaceasYoumayinstruct;or
• thenormalcourseoftransportisinterruptedatYour(ortheseller/purchaser’s)electionforthepurposesofstorage,allocationordistribution.
TheinsuredTransitincludesanyTransittoorfromandwhiletheinsuredGoodsareatanypremisesforthepurposeofpackingorpreparationforshipmentforaperiodofuptoonemonthpriortoshipment.
TheinsuredTransitexcludesanyperiodofdismantling,erection,commissioningorinstallationpriortoorpostTransitasdefinedabove,unlessotherwiseagreedbyUsandspecifiedinthePolicySchedule.
Livestock
TheinsuredTransitcommencesforeachanimalwhenitenterstheConveyingVehicleoritsloadingramp,continuesduringtheordinarycourseofTransitandterminatesforeachanimalwhenitexitstheConveyanceoritsloadingrampattheintendeddestinationorsuchotherplaceasYoumayinstruct.
Motor vehicles
TheinsuredTransitcommenceswhenthewheelsortracksofeachmotorvehicle(s)beingtransportedasGoodsfirstmoveforthepurposesofbeingdrivenontotheloadingrampsoftheConveyingVehiclefromthegroundorloadingdockadjacenttotheConveyingVehicleorfromthepointwherethevehicleiscurrentlyparkedprovidedthatthedistancedriventotheConveyingVehicledoesnotexceed200metres.Coverterminateswhenthewheelsortracksofeachmotorvehicle(s)beingtransportedasGoodsaredrivenofftheConveyanceandareontheroadorloading
dockimmediatelyadjacenttotheConveyance,orareparkedinthepremisesorintheloadingdock,providedthisiswithin200metresofYourConveyingVehicleandthevehicleisdrivenfromtheConveyingVehicleintotheloadingdockorpremisesimmediatelyaspartoftheunloadingprocess.
Additional Transit provisions (all Goods)
ThefollowingprovisionsapplytoalltypesofGoodsprovidedthattheGoodsremainwithintheGeographicalLimitsexpressedinthePolicySchedule:
• Incidental Storage:TransitcontinuesduringstorageincidentaltotransitwhichhasnotbeenrequestedbyYouorthepurchaser/selleroftheGoods,butisnecessarysolelyforthepurposesofnormaltranshipment,handling,agistment(ofLivestock)orloadconsolidation/deconsolidation.InthecaseofLivestockduringlonghaulmovements,Transitcontinuesforupto7daysduringnecessarytemporaryresting/spelling.
• Reconsigned/Reshipped Goods:TransitisdeemedtocontinuewheretheGoodsarereconsignedorreshippeddirectfromawharforairportattheintendeddestinationtoanotherdestinationwithintheGeographicalLimitsspecifiedinthePolicySchedule,untilarrivalatthefinaldestination.
• Shut Out Clause:TheTransitisdeemedtoincludeperiodswhentheinsuredGoodsare“shutout”awaitingtransfertoanotherConveyanceafterTransithascommencedwherethisisoutsideYourcontrol.
• Overcarried Clause:TheTransitcontinuesintheeventthatGoodsare“overcarried”untiltheirdeliverytotheintendeddestination.
Insured EventsSubjecttotheConditionsOfCoverspecifiedintheScheduleandexclusionsofthisPolicy,thisinsurancecoversuptotheSumInsuredlossofordamagetotheGoodswhilstinTransitduringthePeriodofInsurancecausedbyeitherOptionAorOptionBasselectedbyYouandasspecifiedintheSchedule.
Option A – Accidental Damage
General GoodsLossofordamagetotheinsuredGoodscausedby:
• anyAccident;
• insufficiencyofpackagingorpreparationoftheInsuredGoods(whereapplicable)which:
(i) wascarriedoutbyapartyotherthanYouandoccurredentirelywithoutYourprivityorknowledge;or
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(ii) wherecarriedoutbyYoubutYoucandemonstratethattherewasnolackofDueCareonYourpartandYouwereunawarethatthepackagingwasinsufficientinnature;
• DeliberateThirdPartyActs.
WheretheGoodsaretransportedbysea,Wewillalsocover(uptotheSumInsuredspecifiedintheSchedule):
• anyGeneralAverageand/orSalvagecontributionYouarerequiredtopay;
• therisksofjettison,washingoverboardandlossordamagecausedbyaGeneralAveragesacrifice.
Refrigerated, temperature controlled, chilled, or perishable GoodsLossofordamagetotheInsuredGoodscausedby:
• anyAccident;
• insufficiencyofpackagingorpreparationoftheInsuredGoodswhich:
(i) wascarriedoutbyapartyotherthanYouandoccurredentirelywithoutYourprivityorknowledge;or
(ii) wascarriedoutbyYoubutYoucandemonstratethattherewasnolackofDueCareonYourpartandYouwereunawarethatthepackagingwasinsufficientinnature;
• DeliberateThirdPartyActs;
butexcludingdeteriorationofGoodsduetovariationintemperature,exceptwherethisresultsfromvariationintemperaturebeloworabovethedocumentedrequiredrangefortransportationoftheGoodsforaperiodinexcessof4hoursorotherwisestatedintheSchedule,causedby:
• accidentalfailure,breakdown,stoppageormalfunctionoftherefrigeratingmachinerywhichresultsin:
(i) itsfailuretodeliverairatthepresettemperature;or
(ii) itbeingunabletoperformitsnormalrefrigerationcycle;
• mismanagementoftherefrigeratingmachinerybythetransportoperator/carrier,includingselectionofincorrecttemperatureorfailuretoturnonpower;or
• disruptionoftheairflowwithinthecarryingvehiclesorcontainercausedbymismanagementoftheinteriorbulkheadsbythetransportoperator/carrier.
WheretherefrigeratedGoodsaretransportedbysea,Wewillalsocover(uptotheSumInsuredspecifiedintheSchedule):
• anyGeneralAverageand/orSalvagecontributionYouarerequiredtopay;
• therisksofjettison,washingoverboardandlossordamagecausedbyaGeneralAveragesacrifice.
IntheeventthatYoutransportYourowntemperaturecontrolledGoods,WewillnotcoverYouwherethelossiscausedbyYourerror/omissionorwhereYoudonotproperlymaintainYourrefrigerationmachinery.IfrequiredbyUsYouwillneedtoprovideevidencethattherefrigerationmachineryhasbeenproperlymaintained.
LivestockIftheInsuredGoodsareLivestock,WewillcoverYouforAccidentalloss,orDeliberateThirdPartyActwhichresultsin:
• injury,deathordestruction;or
• wanderingoffoftheLivestockwheretheLivestockareunabletobemusteredorrecovered.
WheretheLivestockaretransportedbysea,Wewillalsocover(uptotheSumInsuredspecifiedintheSchedule):
• anyGeneralAverageand/orSalvagecontributionYouarerequiredtopay;
• dischargeataportofdistress;
• therisksofjettison,washingoverboardandlossordamagecausedbyaGeneralAveragesacrifice.
CoverincludesslaughterforhumanereasonswherenecessaryduetoanInsuredEvent.
All GoodsSubjecttotheConditionsofCoverspecifiedintheScheduleandexclusionsofthisPolicy,inadditionthisinsurancecoverslossofordamagetotheGoodsduringTransitcausedby:
• strikers,locked-outworkersorpersonstakingpartinlabourdisturbances,riotsorcivilcommotions;
• anyterroristoranypersonactingfromapoliticalmotiveinaccordancewiththeTransitandTerrorismClauseformingpartofthisPolicy(page27).
IftheTransitisbyseaorair,thisPolicyfurthercoverslossordamagetotheGoods,causedbyWarorWarlikeActivitieswhilsttheGoodsareonboardtheConveyance.
Option B – Specified Perils
LossofordamagetotheInsuredGoodscausedby:
• fire,Flood,lightning,hail,windstorm,tornadoorcyclone,orexplosion;
• collisionoftheConveyingVehiclewithanyexternalobjectotherthantheroad,gutter,curborunevenroadsurface;
• collapseofbridgesorculverts;
• impactoftheInsuredGoodswithsomethingnotonorpartoftheConveyingVehicleotherthantheroadorground;
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• jack-knifing,overturningorderailmentoftheConveyingVehicle;
• sinking,capsizingorstrandingofanyvesselcarryingtheInsuredGoods;
• crashingorforcedlandingofanyaircraft(includinganaircraftusedtotransporttheGoods);
• theftofInsuredGoodsfromtheConveyingVehiclefollowingforcibleandviolententry,pilferageornon-delivery;
• DeliberateThirdPartyAct;
• strikers,lockedoutworkersorpersonstakingpartinlabourdisturbances,riotsorcivilcommotions;
• anyterroristoranypersonactingfromapoliticalmotiveinaccordancewiththeTransitAndTerrorismClauseformingpartofthisPolicy(page27).
IftheTransitisbyseaorair,thisPolicyfurthercoverslossordamagetotheGoods,causedbyWarorWarlikeActivitieswhilsttheGoodsareonboardtheConveyance.
Iftransportedbysea,Wewillalsocover(uptotheSumInsuredspecifiedintheSchedule):
• stranding,sinking,burning,groundingorcollisionofthevesselwithanyobjectotherthanwater;
• dischargeataportofdistress;
• anyGeneralAverageand/orSalvagecontributionYouarerequiredtopay;
• risksofjettison,washingoverboardandlossordamagecausedbyaGeneralAveragesacrifice.
Fortemperaturecontrolled,chilled,perishableorrefrigeratedGoods,coverincludesdeteriorationofsuchGoodsfollowinganInsuredEvent.
ForLivestock,coverincludesdeathordestructioncausedbyanInsuredEvent.WewillalsopayforslaughterofLivestockforhumanereasonswherenecessaryduetoanInsuredEvent.
Additional benefits applicable only to Section 1Exhibition/Demonstration
ThisPolicywillalsocoverYourInsuredGoodswhileinTransittoorfromanyexhibitionordisplay(otherthanatYourownpremises)withintheGeographicalLimitsspecifiedintheScheduleandfurtherextendstoincludewhiletheInsuredGoodsareattheexhibitionordisplaytoalimitof$100,000foraperiodofupto21daysanyoneexhibitionordisplay,orasotherwisespecifiedinthePolicySchedule.
ThedefinitionofGoodsisextendedtoincludeYourstands,fixtures,fittingsandexhibitionequipmentwhereapplicable.
IntheeventthatYouorYouremployeesareobligedtostayovernightatahotel/motelinconnectionwiththeExhibitionorDemonstration,theGoodsremaincoveredprovidedthatthevehicleinwhichtheGoodsarestoredislockedandparkedwithinthehotel/motelcomplexandnotonthestreet.
Livestock – Agistment
ThisPolicycoversallreasonablecostsandexpensesnecessarilyincurredinmaintainingtheLivestockatagistmentwhencausedbyanInsuredEvent.ThemaximumamountWewillpayislimitedto$1000peranimaland$25,000intheaggregateforanyonelossorseriesoflossescausedbytheoneInsuredEvent,orasotherwisespecifiedintheSchedule,inadditiontotheSumInsured.
Livestock – Mustering costs
ThisPolicycoversallreasonablecostsandexpensesnecessarilyincurredformusteringoftheLivestockatthesceneoftheaccidentwhencausedbyanInsuredEvent.ThemaximumamountWewillpayislimitedto$1000peranimaland$25,000intheaggregateforanyonelossorseriesoflossescausedbytheoneevent,orasspecifiedinthePolicySchedule,wheredifferent,inadditiontotheSumInsured.
Livestock – “Wandering off”
ThisPolicycoverslossofLivestockduetowanderingfromthesceneoftheaccidentcausedbyanInsuredEvent.ThemaximumamountWewillpayislimitedto$1000peranimaland$25,000intheaggregateforanyonelossorseriesoflossescausedbytheoneevent,orasspecifiedinthePolicySchedule,wheredifferent,inadditiontotheSumInsured.
On-forwarding
IfWepayaclaimunderthisPolicyforlossordamagetotheInsuredGoodsWewill,inadditiontotheSumInsured,payanyextracostsreasonablyincurredtodelivertheInsuredGoodstotheirintendeddestination,orplacefromwhichtheyweredispatched,butinnocasewillOurliabilitybemorethantheSumInsuredoftheInsuredGoods.
Traveller’s Samples
ThisPolicycoversTraveller’sSamplesownedbyYouonthebasisofthecoverselectedbyYoufortheprimaryInsuredGoodsunderthisPolicy,uptoalimitof$10,000anyoneclaimorseriesofclaimsarisingfromoneInsuredEventorasspecifiedinthePolicySchedule,wheredifferent.
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Inrespectoftheftormaliciousdamage:
• thevehicleand/orfixedcarryingcompartmentisofafullyencloseddesigncapableofbeingsecurelylockedatalltimes;and
• windows,doorsandopeningsofthevehicleorcarryingcompartmentaresecurelylockedwhenunattendedandanyalarmsfittedtothevehicleareactivated.
IntheeventoftheInsuredbeingobligedtostayovernightatahotel/motel,theGoodsremaincoveredprovidedthevehicleinwhichtheTravellersSamplesarestoredislockedandparkedwithinthehotel/motelcomplexandnotonthestreet.
Tools of Trade
ThisPolicycoversToolsofTradeownedbyYouorYouremployeesagainstlossofordamagecausedby:
• fire,Flood,collisionand/oroverturningoftheConveyingVehicle;
• theftorpilferageofthetoolsand/ortravellerssamplesfollowingforcibleentryintoasecurelylockedvehicleorfixedcarryingcompartmentor,followingtheftofthevehicle;
occurringwithintheGeographicalLimitsforSection1coveranduptoalimitof$10,000anyoneclaimorseriesofclaimsarisingfromoneInsuredEventorasspecifiedinthePolicySchedule,wheredifferent.
Providedthat:
• thevehicleand/orfixedcarryingcompartmentisofafullyencloseddesigncapableofbeingsecurelylockedatalltimes;and
• windows,doorsandopeningsofthevehicleorcarryingcompartmentaresecurelylockedwhenunattendedandanyalarmsfittedtothevehicleareactivated.
Your Employee’s Personal Property
ThisPolicyisextendedtocoverlossordamagetoPersonalPropertywhilstinTransitwhichisownedbyYouremployeedriversortravellingsalespersons,forwhichYouarelegallyresponsible,butexcludingthirdpartytransportoperators,causedbyoneoftheInsuredEventslistedinOptionB.ThisbenefitispayableinadditiontotheSumInsured,butlimitedto$2,000foranyonelossorseriesoflossesarisingoutoftheoneevent,orasspecifiedinthePolicySchedule,wheredifferent.
Section 1 exclusionsThisSectiondoesnotcoveranyloss,damage,liability,destruction,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtobyorarisingfromanyofthefollowing.
Insolvency
1. Insolvencyorfinancialdefaultofanyagentortransportservicesprovider,whereYouwereaware,orshouldhavebeenawareinthecourseofnormalbusinessactivities,ofthecircumstances.
Failure to take Due Care and/or deliberate damage
WheretheGoodsarebeingtransportedinYourownvehicle,lossordamagetoGoodscausedby:
2. TheftofInsuredGoodsiftheConveyingVehicle,premisesorbuildingisnotsecurelylockedwhenleftunattendedandanyalarmsarenotactivated.
3. Transportation:
• inanunsafeorunroadworthyvehicle;
• inquantitiesinexcessoftheweight,massordimensionspermittedfortheConveyingVehicledesignorLicenseorwheregreaterthanpermittedbylaw,regulation,permitoradvisorysign;
• byanemployeedriverwhereunlicensedorwheretheemployeedriver’sfacultieswereimpairedbydrugsoralcoholinexcessofthatpermittedbylaw;
unlessthecircumstancesdidnotcontributetothelossand/orYouwereunawareofthemandwouldintheordinarycourseofbusinesstheycouldnotbereasonablyknown,detectedandpreventedbyYou.
4. TransportationofdangerousGoodswhicharenotcarriedinaccordancewiththeprovisionsofthecurrentAustralianDangerousGoodsCode,regardlessofpackagesizeorquantity,andwhetherornotDangerousGoodshavebeenspecifiedintheSchedule.
5. ShiftingoftheGoodsorimproperstowageand/orrestraintoftheGoodsunlessYoucandemonstratethatYoucompliedwithallstatutoryrequirementsinrespectoftheload.
6. Othercargoleftinsideavehicleormachinewhichhasnotbeensuitablysecuredtopreventmovement.
Normal losses etc
LossordamagetoGoodsdueto:
7. Inherentvice(exceptforrefrigerated,temperaturecontrolledorperishableGoodsduetovariationintemperatureasprovidedinCoverA(wheretaken).
8. Moths,mould,mildew,insects,ratsorothervermin,ordinaryleakage,lossinweightorvolumeorwearandtearoftheGoods.
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Livestock
LossordamagetoLivestock:
9. Causedbyinnoculationoritsaftereffects,infectiousdiseases,abortionorlossordeathoffoetus.
10. Whicharenotingoodhealthandfitfortravelpriortoloading.
The General Exclusions applicable to both Sections on page 26 also apply to claims under this section.
Section 2 – Imports to and exports from AustraliaWewillindemnifyYouforlossofordamagetotheGoodsasdescribedintheSchedulewhilstinTransitwithintheGeographicalLimitsspecifiedintheSchedulecausedbyanInsuredEventoccurringduringTransitandduringthePeriodofInsurance.
CoverisnotavailableforLivestockmovementsunderthisSection2.
The TransitThissectioncoversTransitswithintheGeographicLimitsandinaccordancewiththeTransitClausespecifiedintheapplicableInstituteClausesasspecifiedinthetableonpages16-19oraslistedintheSchedule,amendedasfollows:
General Goods/temperature controlled Goods
EachInsuredTransitcommenceswhentheInsuredGoodsarefirstmovedinsidethewarehouse/premisesorplaceofstorageforthespecificpurposeofloadingontotheConveyingVehiclefortransporttoadestinationoutsidethepremisesatwhichloadingtakesplacecontinuesduringtheordinarycourseofTransitasdefinedintheapplicableInstituteClausesandterminateswhen:
• theInsuredGoodsarelastmovedwhenbeingdeliveredtotheintendeddestinationorsuchotherplaceasYoumayinstruct;or
• thenormalcourseoftransportisinterruptedatYour(ortheseller/purchaser’s)electionforthepurposesofstorage,allocationordistribution.
TheinsuredTransitincludesanytransittoorfromandwhiletheInsuredGoodsareatanypremisesforthepurposeofpackingorpreparationforshipmentforaperiodofuptoonemonthpriortoshipment.
TheinsuredTransitexcludesanyperiodofdismantling,erection,commissioningorinstallationpriortoorpostTransitasdefinedabove,unlessotherwiseagreedbyUsandspecifiedinthePolicySchedule.
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Motor vehicles
TheinsuredTransitcommenceswhenthewheelsortracksofeachmotorvehicle(s)beingtransportedasGoodsfirstmoveforthepurposesofbeingdrivenontotheloadingrampsoftheConveyingVehiclefromthegroundorloadingdockadjacenttotheConveyingVehicleorfromthepointwherethevehicleiscurrentlyparkedprovidedthatthedistancedriventotheConveyingvehicledoesnotexceed200metres.Covercontinuesduringtheordinarycourse
ofTransitasdefinedintheapplicableInstituteClauses.Coverterminateswhenthewheelsortracksofeachmotorvehicle(s)beingtransportedasGoodsaredrivenofftheConveyanceandareontheroadorloadingdockimmediatelyadjacenttotheConveyance,orareparkedinthepremisesorintheloadingdock,providedthisiswithin200metresofYourConveyingVehicleandthevehicleisdrivenfromtheConveyingVehicleintotheloadingdockorpremisesimmediatelyaspartoftheunloadingprocess.
InallotherrespectstheterminationprovisionscontainedintheInstituteClausesshallapply.
Additional Transit provisions (All Goods)
ThefollowingprovisionsapplytoalltypesofGoodsprovidedthattheGoodsremainwithintheGeographicalLimitsexpressedinthePolicySchedule:
• Incidental Storage:TransitcontinuesduringstorageincidentaltoTransitwhichhasnotbeenrequestedbyYouorthepurchaser/selleroftheGoods,butisnecessarysolelyforthepurposesofnormaltranshipment,handling,orloadconsolidation/deconsolidation.
• Reconsigned/Reshipped Goods:TransitisdeemedtocontinuewheretheGoodsarereconsignedorreshippeddirectfromawharforairportattheintendeddestinationtoanotherdestinationwithintheGeographicalLimitsspecifiedinthePolicySchedule,untilarrivalatthefinaldestination.
• Shut Out Clause:TheTransitisdeemedtoincludeperiodswhentheInsuredGoodsare“shutout”awaitingtransfertoanotherConveyanceafterTransithascommencedwherethisisoutsideYourcontrol.
• Overcarried Clause:TheTransitcontinuesintheeventthatGoodsare“overcarried”untiltheirdeliverytotheintendeddestination.
Insured EventsSubjecttotheConditionsOfCoverspecifiedintheScheduleandexclusionsofthisPolicy,thisinsurancecoverslossofordamagetotheGoodsduringTransitasperthestandard/defaultInstituteConditionsbasedoncommoditycategory,asperthefollowingtable,unlessotherwisespecifiedintheSchedule.
Cargo Type Conditions
Generalnon-hazardous,nonperishable,drycontainerisedcargo(unlessmorespecificcargotypeappliesaslistedbelow)
InstituteCargoClauses(A)1/1/09(CL382)
InstituteCargoClauses(Air)1/1/09(CL387)
InstituteStrikesClauses(Cargo)1/1/09(CL386)
InstituteStrikesClauses(AirCargo)1/1/09(CL389)
InstituteWarClauses(Cargo)1/1/09(CL385)
InstituteWarClauses(AirCargo)1/1/09(CL388)
InstituteWar(SendingsbyPost)01/03/09(CL390)
InstituteWarCancellationClause1/12/82(CL271)
InstituteReplacementClause1/12/08(CL372)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01(CL354-2001)
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Cargo Type Conditions
HidesandSkins InstituteCommodityTrades(A)05/09/83(CL275)
InstituteCargoClauses(Air)1/1/09(CL387)
InstituteStrikes(CommodityTrades)05/09/83(CL279)
InstituteStrikesClauses(AirCargo)1/1/09(CL389)
InstituteWar(CommodityTrades)5/9/83(CL278)
InstituteWar(AirCargo)(excludingsendingbypost)01/01/82(CL258)
InstituteWar(SendingsbyPost)01/03/09(CL390)
InstituteWarCancellationClause1/12/82(CL271)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01(CL354-2001)
Excluding:
• mouldormildew,unlessdirectlyattributabletotheingressofsea,lake,riverorrainwaterintoaClosedContainerortheclosedcargoholdofthecarryingvessel,orthefullystructurallyenclosedcargo/loadspaceofthecarryingvehicleorotherconveyance
• heatingand/orsweatingand/orcondensation
• diseaseorinfestation
Timber(uncontainerised)
InstituteTimberTradeFederationClauses1/4/86(CL335)
InstituteStrikes(TimberTradeFederation)1/1/84(CL336)
InstituteWar(Cargo)1/1/82(CL255)
InstituteWarCancellationClause1/12/82(CL271)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01)(CL354-2001)
Oils,seedsandfats InstituteFOSFATrades(A)01/07/85(CL313)
InstituteFOSFASupplementary(4)GradeClause(ForuseinconjunctionwithInstituteFOSFATradesClauses)01/07/85(CL321)
InstituteStrikes(FOSFATrades)01/07/85(CL317)
InstituteWar(FOSFATrades)01/07/85(CL316)
InstituteWarCancellationClause1/12/82(CL271)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01)(CL354-2001)
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Cargo Type Conditions
TemperatureControlledFood
Frozen/ChilledFoodClausesA–24hourBreakdown1/3/17CL426–amendedforAustralianLawandPractice
InstituteStrikes(Frozen/ChilledFood)1/3/17CL424–amendedforAustralianLawandPractice
InstituteCargoClauses(Air)1/1/09(CL387)
InstituteStrikesClauses(AirCargo)1/1/09(CL389)
InstituteWar(AirCargo)(excludingsendingbypost)01.01.82(CL258)
InstituteWar(SendingsbyPost)01/03/09(CL390)
InstituteWarCancellationClause1/12/82(CL271)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01(CL354-2001)
TemperatureControlledMeatorFish
Frozen/ChilledMeatA–24hourbreakdown(CL426)1/3/17withclauses8.1.1and8.1.3deleted–amendedforAustralianLawandPractice
InstituteStrikes(Frozen/ChilledMeat)1/3/17CL428–amendedforAustralianLawandPractice
InstituteWarCancellationClause1/12/82(CL271)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01(CL354-2001)
MotorVehicles InstituteCargoClauses(A)1/1/09(CL382)
InstituteStrikesClauses(Cargo)1/1/09(CL386)
InstituteWarClauses(Cargo)1/1/09(CL385)
InstituteWarCancellationClause1/12/82(CL271)
InstituteReplacementClause1/12/08(CL372)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01(CL354-2001)
Includingbreakage,bending&denting,theft,pilferage&non-delivery
Excludinghaildamagetovehiclesstoredintheopenairduringthecourseoftransit,unlessprotectedbyhailnets
Excludinganyclaimforscratching,dents,chips,windscreencracksandsimilarexternaldamagetomotorvehiclesunlesscausedbytheconveyancebeingstranded,sunk,burnt,incollision,derailed,crashedoroverturned
Excludingdamagetointeriorsofmotorvehiclesresultingfromitemsbeingcarriedwithinthevehiclewhicharenotsuitablysecured
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Cargo Type Conditions
OthernonTemperatureControlled,nonhazardouscommodities
InstituteCommodityTrades(A)05/09/83(CL275)
InstituteCargoClauses(Air)1/1/09(CL387)
InstituteStrikes(CommodityTrades)05.09.83(CL279)
InstituteStrikesClauses(AirCargo)1/1/09(CL389)
InstituteWar(CommodityTrades)5/9/83(Cl278)
InstituteWar(AirCargo)(excludingsendingbypost)01.01.82CL258
InstituteWar(SendingsbyPost)01/03/09(CL390)
InstituteWarCancellationClause1/12/82(CL271)
TerminationofTransitClause(Terrorism)1/1/09(CLJC2009/056)
InstituteRadioactiveContamination,Chemical,Biological,Bio-ChemicalandElectromagneticWeaponsExclusionClause10/11/03(CL370)
InstituteCyberAttackExclusionClause10/11/03(CL380)
InstituteClassificationClause1/1/01(CL354-2001)
Section 2 exclusionsExclusionsspecifictoSection2coverarelistedintheapplicablestandard/defaultInstituteClausesaslistedabove,orasnotedintheSchedulewheredifferent.
TheGeneralexclusionsapplicabletobothSectionsonpage26alsoapply.
Additional benefits applicable only to this SectionBuyers Contingency (Difference in Conditions) Clause
Where:
• theInsuredGoodsarepurchasedonCIForsimilarterms;
• theinsuranceprovidedbythesupplierismorerestrictedthanthatprovidedunderthisPolicy;
• thedifferenceinconditionshasresultedfromfaultorneglectofthesellerratherthanasaresultofYourinstructions;and
• thisadditionalbenefithasnotbeendisclosedtotheselleroranythirdparty.
Weagreetopaythoselossesnotrecoverableundersuchotherinsurancecoveragearrangedbythesupplier,subjectto:
• thetermsandconditionsofthisPolicy;
• consignmentscomingwithinthetermsofthisextensionwillbevaluedanddeclaredinaccordancewiththePolicyconditions;
• Youprotectingand/orpursuingalllegallyenforceablemeansofrecoveryofthelossincludingthoseagainstYoursupplierandtheirinsurers.
InallsuchcasesWewillbesubrogatedtoallYourrightsandremediesundertheinsurancearrangedbythesupplierandYouagreetocooperateinallaspectsoftherecovery.
Certificates of Insurance/Letter of Credit Clause
WhereGoodsaresoldbyYou,YouareauthorisedtoissueandsignCertificatesofInsuranceinaformatagreedtoorprovidedbyUs,tocomplywithletterofcreditrequirementsstrictlyinconformitywiththeterms,conditionsandlimitsofthisPolicy.
IftheletterofcreditrequiresinsurancetermsdifferenttothecoverageunderYourPolicy,subjecttoYounotissuingCertificatesofInsurancewithgreatercoverthanprovidedinthePolicy,YouareauthorisedbyUstocomplywiththeletterofcreditrequirementandshowtheinsurancetermsexpressedintheLetterofCreditonYourCertificateofInsurance.
YouagreetoindemnifyUsforanyclaimwhichWeareobligatedtopaybecauseaCertificateofInsurancehasbeenissuedthatdidnotconformtotheterms,conditionsandlimitsofthisPolicy.
CopiesofCertificatesofInsurance(whenissued)aretobeforwardedtoUsassoonaspossibleafterdepartureoftheexportshipment.
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Duty Clause
WherenotedintheBasisOfValuationintheSchedule,thisPolicyisextendedtoincludetheamountofanyimportdutyand/ortaxespaidorpayablebyYouinrespectofInsuredGoodsYouhaveimportedintoAustralia.
Noclaimisrecoverableunderthisclausearisingfrom:
• totallossoftheGoodsortotallossofpartthereofpriortothearrivalatdestination;
• GeneralAverage;
• inrespectofdutywaivedbyCustomsAuthoritiesatdestinationonshipmentsarrivingdamagedbyanInsuredEvent;
• incasewherenodutyorlandingchargesarepaid.
NothinginthisclauseshallincreasetheSumInsuredspecifiedintheSchedule.
FOB/CFR Pre-Shipment Clause
NotwithstandingthelegalownershipunderYourpurchasecontractinthecaseofshipmentsonFOB,CFRorsimilartermsofsale,itisagreedthatwhere:
• WeareunabletoestablishthepointduringtheTransitatwhichthelosseventtookplace;or
• whereYouareunabletoobtaincompensationfromthesellerorotherparties.
WewillindemnifyYouforlossordamagetotheGoodsasifWehadinsuredtheGoodsonthesametermsandconditionsasthisPolicyfromthetimeofdeparturefromtheseller’swarehouseorpremises,providedthat:
• Youuseallreasonablemeasurestoattempttorecoverthelossfromtheseller;
• intheeventofaclaimbeingpaid,WearesubrogatedtoorassignedanyrightofrecoverytheremaybeunderanyotherPolicycoveringtheGoodspriortoshipment;and
• Youdonotdisclosetheexistenceofthisclausetotheselleroranyotherinterestedparty.
Insufficiency of Packing Clause
UnlessYouhaveselectedarestrictedperilscover,forexampleInstituteCargoClauses(B)orInstituteCargoClauses(C),wherethisadditionalbenefitwillnotapply,theinsufficiencyorunsuitabilityofpackingorpreparationexclusionclausewhereappearingintheInstituteClausesformingpartofthisPolicywillnotapplywherethepackingorpreparationwascarriedoutbyapartyotherthanYouandtheinsufficiencyorunsuitabilityaroseentirelywithoutYourprivityorknowledge.
BenefitunderthisclauseissubjecttoYouagreeingtoassistUsinallrespectstopursuerightsofrecoveryagainstsellersand/orotherresponsiblethirdparties.
Sellers Interest Clause
Where,underacontractofsale,Youdonothaveresponsibilitytoarrangeinsurance,WewillinsuretheGoodsinrespectofYourcontingentinterest:
• wheretitletotheGoodsrevertstoYoubecausethebuyerdefaultsonpaymentfortheGoodsorrejectstheGoods;
• whereYouexercisearightorlientointerrupttheTransitand/orsuspendthecontractofsaletoprotectYourinterests;
butexcluding:
• lossesrecoverablefromcreditinsurers;and
• lossesorcircumstancesarisingfromgovernmentactionand/orregulationspreventingtransferofcurrency;
subjecttothesameconditionsandrestrictionsforanyotherGoodsinsuredbythisPolicy.
Coverwillcontinueuntil:
• thebuyeracceptstheGoods;
• theGoodsaresoldtoanalternativebuyer;
• theGoodsarereturnedtoYou;or
• theexpiryofsixty(60)daysfromarrivaloftheoverseasvesselattheportofdischarge;
whicheverfirstoccurs.
CoverunderthisclauseissubjecttoYou:
• providingUswithimmediatenoticeofthecircumstances,whereapplicable;
• notrevealingtheexistenceofthiscovertoYourcustomer,theirinsurers,ortoanyotherpartyinterestedintheshipment;
• notassigningthisPolicyorofanyinterestorclaimhereunder;
• protectingand/orpursuingalllegallyenforceablemeansofenforcingthecontractofsaleand/orrecoveryofthelossincludingrightsYouhaveagainstYourbuyerandtheirinsurers.
InallsuchcasesWewillbesubrogatedtoallYourrightsandremediesagainstthebuyerandtheirinsurersandYouagreetocooperateinallaspectsoftherecovery.
WewillonlyprovidecovertotheextentthatYourbuyerfailstopayforsuchlostordamagedGoods.
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Unseaworthiness and Unfitness Exclusion Modification Clause
Theunseaworthinessandunfitnessexclusionclausewhereappearingunder‘Exclusions’intheInstituteClausesformingpartofthisPolicyisdeletedandreplacedbythefollowing:
InnocaseshallthisPolicycoverloss,damageorexpensecausedbythefollowing:
• unseaworthinessofvesselorcraftorunfitnessofvessel,craftoraircraftforthesafecarriageoftheGoods,whereYouareawareoftheunseaworthinessorunfitnessatthetimetheGoodsareloaded;
• unfitnessofcontainerorConveyanceforthesafecarriageoftheGoodswhereloadingiscarriedoutbyYouorYouremployees.
However,thefirstexclusionabovewillnotapplywherethecoverprovidedbythisPolicyhasbeenassignedtothepartyclaimingunderitwhohasbroughtoragreedtobuytheGoodsingoodfaithunderabindingcontract.WewaiveanybreachoftheimpliedWarrantiesofseaworthinessofthevesselandfitnessofthevesseloraircrafttocarrytheGoodstodestination.
Conditions common to Sections 1 and 2How much We will payClaimsunderSection1and2aresubjecttotheapplicationofAverageorCoinsuranceunlessspecificallynotedotherwise.
AtOuroptionWewillpayYou,repairersorotherparties:
• theinvoicevaluecoveringtheGoods;or
• ifthereisnoinvoicevalue,atOuroptioneither:
(i) thecostofreplacingtheInsuredGoodswithsimilarGoodsofthesameageandconditionorasnearaspossibletothatageandcondition;or
(ii) theactualmarketvalueoftheGoods.
• fordamagedGoods:thecostofrepairingorreinstatingtheInsuredGoodstoaconditionequaltobutnobetterormoreextensivethanitsconditionimmediatelypriortothelossordamage(includingthereasonablecostofanynecessaryovertime).However,undernocircumstancesdoWecoverYouforanyreductioninthevalueofGoodsbecauseofrepairs.
IntheeventofclaimunderthePolicywhereYouareauthorisedbyUstocarryoutrepairstotheInsuredGoods,itisagreedthatsuchrepaircostsshallbebasedonYournormalcommercialratewhichincludesYournormalelementofprofit.
Thefollowingexceptionsapplytotheaboveprovisions:
• Livestock:theinvoicevaluecoveringtheLivestockwhilstinTransit,or,ifthereisnoinvoicevalue,thecostofreplacingtheLivestockwithsimilarLivestockofthesameage,breedandconditionorascloseaspossibletotheage,breedandconditionoftheoriginalLivestock,notexceedingtheSumInsuredexpressedintheSchedule.
• WheretheGoodscarriedareartwork, paintings, pictures, statues or antiques,thereasonablecostofrepairsuptotheSumInsuredoftheparticularitemexcludinganydepreciationorreducedmarketvalueconsequentontherepairs.ThemarketvalueoftheGoodswillbeassessedwithreferencetoanindependentandqualifiedvaluer.
• Fornew machinery,thecostofreplacementorrepairofthepartorpartsplusanyadditionalchargesforforwardingandrefitting.
• Forused machinery:intheeventofaTotalorConstructiveTotalLoss:
(i) forsales/purchases–thepurchaseorsaleprice(invoiceprice)plusfreightandincidentaltransportcharges;
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(ii) forstocktransfersandothermovementsnotinvolvingasale/purchasetoevidencethevalueofthemachine:
– whereasecondhandmarketforthegoodsexists–marketvalueatthetimeofthelossplusfreightandincidentaltransportcharges
– forspecialisedmachinerywherethereisnosecondhandmarket–thewrittendownassetvalueasevidencedbytheclaimant’saccountingrecords,orthenewreplacementvaluebasedontheclosestavailableequivalentmachineofsimilartechnicalspecificationslessagreeddepreciationbasedontheageandconditionoftheinsuredmachineryatthetimeoftheloss,plusfreightandincidentaltransportcharges.
Theamountpayableintheeventofapartiallosswillnotexceedthecostofrepairingandreinstatingtheitemtoaconditionequaltobutnotbetterormoreextensivethanitspre-losscondition,andinanyeventnotexceedingtheabove.
• Packaging/shipping containers:thecostofrepairorreplacement(asrequiredbythehandoveragreementorsimilardocument)butnotexceedingtheinsuredsub-limitexpressedinthisPolicyortheSchedulewheredifferent.
• Intheeventoflossaffectinglabelsonly,theamountrecoverableislimitedtothecostofnewlabels,reconditioningandrelabellingtheGoods.
• Pairs and Sets Clause:Intheeventoflossofordamagetoanarticleformingpartofapairorsetnoregardshallbemadetothevaluesucharticle(s)mayhavetothepairorsetandtheamountrecoverableunderthisPolicyshallbecalculatedasaproportionatepartoftheinsuredvalueofthepairorset.
• General Average/Salvage Charges:WewillpayGeneralAverageandSalvagechargesinfullirrespectiveoftheamountinsuredbeinglessthanthecontributoryvalue,provided,however,thatallInsuredGoodsshallbeinsuredfornotlessthanamountscalculatedontherespectiveBasisofValuationasnominatedintheSchedule.
Additional benefitsThefollowingadditionalbenefitsapplytobothSection1and2.
Accumulation Clause
IntheeventoftheaccumulationofGoodsinexcessoftheSumInsuredarisingfromcircumstancesbeyondYourcontrol,andprovidingYougiveUsimmediatenoticeassoonasthecircumstancesbecomeknowntoYou,WewillprovidecoverfortheaccumulatedGoodsuptodoubletheSumInsuredspecifiedintheScheduleeachandeverylossoroccurrenceorseriesoflossesoroccurrencesarisingoutofthesameevent.
Acquired Companies Clause
WewillprovidecoverunderthisPolicyforanycompany,subsidiarycompanyorfirmthatisformed,purchasedorotherwiseacquiredbyYouduringthePeriodofInsurance,providedalwaysthatYou:
• holdacontrollinginterestinthecompany,subsidiarycompanyorfirmorhaveagreedtoacceptresponsibilityforinsuranceofsuchcompany,subsidiarycompanyorfirm;and
• adviseUsofYourinterestinthecompany,subsidiarycompanyorfirmwithinsixty(60)daysfromthedateofsigningoftheinstrumentbywhichYouacquiredsuchcompany,subsidiarycompanyorfirm,orfromthedateofformationofsuchcompany,subsidiarycompanyorfirm,whicheverthecasemaybe;and
• declaretoUstheSendingsorTurnover,typeofGoodstobeinsured,pastlossesandthenagreetoanyadditionalconditionsrequiredbyUsandpayanyadditionalPremiumsrequiredbyUstobepaid.
Assignment
Forshipmentsinvolvingimportsand/orexports(Section2),Youoranyassigneearepermittedtotransfertheinsurancetoanotherpersonand/orentityaspartofthesaleandinaccordancewithcustomarytradepractices.
ForTransitscommencingandterminatingwithinAustralia(Section1),YoumayonlytransferarightunderthisPolicywithOurwrittenconsent.
Automatic Reinstatement Clause
WhenWepayaclaimunderthisPolicy,theSumInsuredwillbeautomaticallyreinstatedwithoutanadditionalPremiumbeingpayable.
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Brands Clause
WewillnotsellordisposeofSalvagedGoodswhich:
• bearpermanentmarkingsidentifyingYouasthemanufacturer;or
• havebeenmanufacturedusingexclusiveand/orsecretformulas;
withoutYourconsent.
WhereYoudonotgiveYourconsent,YoumayretaintheGoodsprovidedthatareasonableallowanceforSalvageisagreedanddeductedfromtheclaimsettlement.
Ifamutualallowancecannotbeagreedon,thevalueoftheGoodsdamagedshallbeestablishedbyallowingtheGoodstosoldatapublicauctionwhereYouhavetherighttoacceptorrefusethehighestbidoffered.
Cargo ISM forwarding charges
SubjecttoallothertermsconditionsandexclusionscontainedinthePolicy,WewillpayYouuptothelimitoftheSumInsuredfortheTransit,foranyextrachargesproperlyandreasonablyincurredinunloading,sortingandforwardingtheGoodstotheinsureddestinationfollowingreleasefromavesselarrested,ordetainedat,ordivertedtoanyportorplaceotherthantheintendedportofdestinationwheretheTransitisterminateddueeitherto:
• thevesselnotbeingcertifiedinaccordancewiththeInternationalSafetyManagement(ISM)code;or
• acurrentISMCodeDocumentofCompliancenotbeingheldbyherownersoroperators;
asrequiredundertheSafetyofLifeatSea(SOLAS)Convention1974asamended.
ThisclausedoesnotapplytoGeneralAverageorSalvageorSalvagecharges.
Container demurrage charges
Wewillcoverdemurragechargesand/orlatepenaltiesassessedagainstYouuptoamaximumof$50,000inadditiontotheSumInsuredwheretheseareincurredduetothecontainer(s)beingretainedbyYouonOurinstructionforthepurposesofinspectionfollowingaclaim.ThedemurrageperiodforwhichWewillbeliablebeginsatthetimeWeinstructYoutoretainthecontainersandfinishesatthetimeOursurveyorinstructsYoutoreturnthecontainers.
Debris removal/Clean up costs
WhereWehaveacceptedliabilityforlossordamagetoGoods,Wewillalsopayupto$100,000anyonelossorseriesoflossescausedbytheoneeventinadditiontotheSumInsuredshownintheScheduleorasspecifiedintheSchedule,wheredifferent,for:
• thecostofremovaland/ordisposalofthedamaged,deterioratedorcontaminatedGoods;plus
• thecostofcleaninguptheaccidentsite,premises,locationorConveyance;
provided:
• thesecostsrelatetotheInsuredGoods;and
• Youarelegallyorcontractuallyobligedtopaythosecosts;and
• suchcostsarenotrecoverableunderanyotherPolicyofinsurance.
Delayed Unpacking Clause
WewillacceptclaimsforconcealedlossordamageresultingfromanInsuredEventdiscoveredonopeningpackagesorcasesashavingoccurredinTransit,unlessprooftothecontrarycanbeestablishedprovided:
• anydelayinopeningthepackagesfollowingdeliverydoesnotexceedninety(90)days;
• packagingshowingexternalsignsofdamage,wettingand/orstainingmustbeopenedimmediatelyandallpossiblestepstakentominimisedamage.
Expediting expenses
Wewillpayupto$50,000anyonelossorseriesoflossescausedbytheoneeventinadditiontotheSumInsuredshownintheScheduleorasspecifiedinthePolicySchedule,wheredifferent,forthenecessaryincurredcostofairfreightingreplacementpartsfromsuppliersfollowinginsuredlossordamagetoGoods,eveniftheoriginalTransitwasnotbyairfreight,where:
• necessarytopreventinterruptionofYourbusiness,and
• repairorreplacementtooriginalshippedconditioncannotbeeffectedlocally.
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Fumigation and Decontamination Clause
Wewillcoverthereasonablecosts,chargesandexpensesoffumigation,decontaminationorquarantine(includingadditionalfreightchargesincurred)onarrivalatdestinationorintermediateportorplacewheretheGoodsare:
• suspectedofbeinginfested,oractuallyinfested;and
• orderedbytheappropriateauthoritiestobefumigatedordecontaminated;and
• Youarelegallyresponsibleforsuchcosts;
uptoalimitof$50,000anyonelossorseriesoflossescausedbytheoneeventinadditiontotheSumInsuredshownintheScheduleorasspecifiedinthePolicySchedule,wheredifferent.
WewillalsocoveranylossordamagetotheInsuredGoodsproximatelycausedbytheprocessofdecontaminationorfumigationincludingfireresultingfromtheapplicationofheatduringtheseprocesses.
UndernocircumstanceswillWebeliableunderthisadditionalbenefitclauseforthecostsofcustomaryormandatoryfumigation,decontaminationorquarantinecostsandexpenses(perGovernmentQuarantineRegulationsorsimilarstatutoryrequirements).
Insolvency of carriers
ForcoverunderSection2,TheInsolvencyExclusionClausewhereappearingintheInstituteClausesformingpartofthisPolicyisdeletedandreplacedbythefollowing:
InnocaseshallthisPolicycoverloss,damageorexpensecausedbyinsolvencyorfinancialdefaultoftheowners,managers,charterersoroperatorsofthevesseloraircraftwhereYouareunabletoshow,priortoloadingoftheGoodsonboardthevesseloraircraft,thatallreasonablepracticableandprudentmeasuresweretakenbyYou,Yourservantsandagents,toestablishthefinancialreliabilityofthepartyindefault.
ThisclauseshallnotapplywherethisinsurancehasbeenassignedtothepartyclaiminghereunderwhohasboughtoragreedtobuytheGoodsingoodfaithunderabindingcontract.
ForbothSection1and2,iftheTransitisinterruptedorterminatedduetotheinsolvencyorfinancialdefaultoftheowners,managers,charterersoroperatorsoftheConveyance,whetherornottheGoodshavebeenlostordamaged,WewillpayYoutheextracostsoffreightand/orstoragetoforwardtheGoodstotheirintendeddestinationortoreturntheGoodstotheplacefromwhichtheyweredespatcheduptoamaximumof10%oftheSumInsuredoftheGoods.
Interests of other parties
WhereYouarecomprisedofmorethanoneentity,theterm“You”willapplytoeachentityinthesamemannerasthoughaseparatePolicyhadbeenissuedtoeachentity,however,OurlimitofliabilityshallnotexceedtheSumInsuredspecifiedintheScheduleandOurliabilitytomakesupplementarypaymentswillapplyasthoughtherewerenotseparatepoliciesissuedtoeachentity.
TheinterestsofanypartyotherthanYou(e.g.financiers,otherownersand/orlessors)whoYourequiretobecoveredbythisInsuredareprotectedunderthisPolicyprovidedYouhaveinformedUsaboutthemandWehaveagreedtoincludethemandnotedthemontheSchedule.
WheretheprotectionprovidedbythePolicycoverstheinterestofmorethanoneparty,anyactoromissionofanindividualpartywillnotprejudicetherightsoftheremainingparties,provided:
• theloss,damage,liability,costorexpensearenotdirectlyorindirectlycausedbyorcontributedtobyorarisefromanyoftheremainingparties’misconductorintentionallycausedbyoneoftheremainingpartiesoranypersonactingwiththeirexpressorimpliedconsent;and
• providedtheremainingpartiesmust,immediatelyonbecomingawareofanyactoromissionthatincreasestheriskoflossordamage,givenoticeinwritingtoUsandondemandpaysuchreasonableadditionalPremiumasWemayrequire.
ThisbenefitwillnotacttoexcludetherightsofpartiestowhomYouhavesoldtheGoodsinsuredwhoareentitledtoclaimforlossordamagetotheGoodsinrespectoftheirInsurableInterestundercustomarysale/tradeterms,totheextentofcoverageprovidedbythisPolicy.
Loss of information/data/media
ProvidedthatthereisvisibleexternaldamagetotheGoods,Wewillpayupto$50,000anyonelossorseriesoflossesarisingfromtheoneeventforthereasonablecostofrewritingtheinformationordataprovidedthatthesecostsarenotrecoverableunderanyotherPolicy.
Packaging, containers and equipment
Wewillcoverlossofordamageto:
• packagingmaterials,crates,pallets,shippingcontainers,flatracks,tanktainers,demountablebodies,flatsorsimilarunits(includingancillaryequipmentwhilstattachingtosuchunits),orsimilaritemsusedfortransportationoftheGoods,ownedbyYouorforwhichYouhavelegalresponsibilitywhilstinYourcare,custodyandcontrol;and
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• anyequipmentusedbyYouinGoodstransportationincludingtarpaulins,ropes,chains,webbingstraps,restraints,dogs,gates,trolleysandcontainerswhereYouuseYourownvehiclestotransporttheGoodsprovidingtheyarenototherwiseinsuredunderanyotherPolicy,duringaninsuredTransit,subjecttoalimitof$50,000anyonelossorseriesoflossesarisingoutoftheoneevent,orasspecifiedinthePolicySchedule,wheredifferent.
Repacking costs
WewillpayforlossordamagetopackagingintheeventoftheoriginalshippingpackagesarrivingatthefinaldestinationinavisiblydamagedconditionarisingfromanInsuredEvent,whereitistheestablishedcustomofYouorYourtradetodelivertheGoodstothefinalcustomerpremisesintheoriginalshippingpackages.
Resecuring costs
WewillpayforallreasonablecostsandexpensesforwhichYouareresponsibleuptoamaximumof$10,000(unlessotherwisespecifiedintheScheduleandprovidedtheyarenotrecoverableunderanyotherPolicyofinsurance)incurredinresecuringtheGoodswheretherehasbeenmovementoftheGoodsinTransitwhichmakesresecuringnecessary,eventhoughtheremaybenoclaimresultingfromtheincident,providingthatthesecircumstanceswereoutsideYourcontrolandYoucouldnotreasonablybeexpectedtoknowofthemduringthenormalcourseofYourbusiness.
Sealed Container Clause
InrespectofshipmentsinFCL(FullContainerLoad)containers,providedthatdocumentaryevidenceisproducedtosubstantiatethequantityloadedintotheFCLcontainerthefactthatthecontainer’ssealisintactatunloadingpointshallnotinvalidateclaimfortheft,pilferage,shortageandnon-delivery.OnsettlementofYourclaim,YoushallassistUsinallrespectstopursuerightsofrecoveryfromthesuppliersand/orthepackersorotherresponsiblethirdparties.
Sorting Charges Clause
IntheeventofYouorYourbuyercomplyingwithsurveyor’sinstructionstosortdamagedGoodstodeterminealosswhichmayberecoverableunderthePolicy,WeshallpayforsuchexpensesasapprovedbythesurveyoreventhoughaclaimmaynotsubsequentlyresultunderthePolicy.
Strikes Diversion Expenses Clause
WewillpayanyreasonableadditionalcostsincurredbyYouupto$50,000anyonelossorseriesoflossescausedbytheoneeventinadditiontotheSumInsuredshownintheScheduleorasspecifiedinthePolicySchedule,wheredifferent,inunloading,storingandforwardingYourGoodstotheirfinaldestinationwherethecarrier,shipowners,charterersormanagersexercisealibertygrantedtothembythecontractofaffreightmentwheresolelyinconsequenceofstrikes,riots,civilcommotions,lockoutsorlabourdisturbances,theGoodsareover-carriedtoordischargedataportotherthantheirScheduledportofdischargeunderthecontractofaffreightment.
HoweverinnocaseshallWebeliableforanycostunlessthelibertyreferredtointhisclauseisexercisedpriortotheexpiryof15daysfrommidnightofthedayonwhichthestrikes,riots,civilcommotions,lockoutsorlabourdisturbancesceasetobeinactiveoperation.
Sue and Labour Clause
IntheeventoflossordamagecausedbyanInsuredEvent,YouandYourservantsarepermittedtotakereasonablemeasuresforthepurposeofavertingorminimisingsuchlossandWewill,inadditiontoanylossrecoverableunderthePolicy,reimburseYouforanycostsproperlyandreasonablyincurred.
MeasurestakenbyYouorUswiththeobjectofsaving,protectingorrecoveringtheGoodsshallnotbeconsideredasawaiveroracceptanceofabandonmentorotherwiseprejudicetherightsofeitherparty.
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General exclusions applicable to both SectionsInrespectofcoverprovidedunderSection2,theexclusionscontainedwithintheInstituteClausesapplicabletothispolicy(eitherthedefault/standardclausesappearinginthetableonpages16-19orasspecifiedintheSchedule,asapplicable)andformingpartofthisPolicyshallbeparamountwheretheyconflictwithanytermscontainedinthisExclusionsectionofthePolicy.
Property (Goods) exclusionsWedonotinsureYouforlossordamageto:
1. PropertyotherthanGoodsofthetypesnotedintheScheduleorwhicharespecifiedunderthePackaging,ContainersandEquipment,EmployeesPersonalProperty,Exhibitions/Demonstrations,ToolsofTradeorTravellersSamplescovers(whereapplicable);and
2. VehiclesandmachineswhilstdrivenundertheirownpowerorwhilstbeingtowedotherthanduringLoadingandUnloadingoperations.
Perils exclusionsThisPolicydoesnotcoveranyloss,damage,liability,destruction,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtobyorarisingfromanyofthefollowing:
Losses not arising from transport of the Goods
Claimsforlossordamage:
1. whichhasnotoccurredduringtheTransit,forexample,pre-existingdamageordamageoccurringaftertheGoodshavebeendeliveredatdestination;
2. asaresultofrejection;
3. arisingfromunexplainedloss,mysteriousdisappearanceand/orshortagededucedsolelyfromaninventorycomputation;
4. delay,lossofmarket,orconsequentiallossofanydescriptionevenifcausedbyanInsuredEvent.
Failure to take Due Care and/or deliberate damage
LossordamagetoGoodscausedby:
5. YourmisconductorintentionallycausedbyYouoranypersonactingwithYourexpressorimpliedconsent;
6. failuretoexerciseDueCareinthesafehandling,storage,protectionandsecurityoftheGoodstotheextentthesemattersarewithinYourcontrol.
Rust, oxidation, discolouration
LossordamagetoGoodsdueto:
7. rust,oxidisationordiscolouration,unlesscausedbyanInsuredEvent.
Fraud
8. Faudulentordishonestacts,fraudulentmisappropriation,embezzlementandforgeryinvolvingtheInsuredGoodsbyYouoroneofYouremployeesactingaloneorincollusionwithanyotherperson(s).However,thisexclusionshallnotapplytotheftfollowingforcibleandviolententryuponpremises.
Refrigerated, perishable or temperature controlled Goods
Lossordamagecausedby:
9. failureofYourrefrigerationequipmentwhereithasnotbeenregularlyservicedandmaintained;
10. YourfailuretotakeallreasonableprecautionstokeeptheGoodsinarefrigerated,properlyinsulatedorcooledspace.
Machinery, equipment, data etc
LossordamagetoGoodscausedbythefollowing:
11. electronic,electricalormechanicalfailureoftheGoodsunlessthereisvisibleexternalphysicaldamagetotheGoodswhichoccurredduringTransitcausedbyanInsuredEvent;
12. lossofdatafromanycomputerhardwareorsoftwareunlessthereisvisibleexternalphysicaldamagetotheGoodswhichoccurredduringTransitcausedbyanInsuredEvent;
13. damagetoGoodswhicharevehiclesandmachineswhilsttheyarebeingtowedorwhilstbeingdrivenundertheirownpowerexceptduringloadingandunloadingoperationsasspecifiedinthisPolicy;
14. arisingfromthedismantling,assembly,testingorfabricationofmachinery,plant,equipmentorstructure.
Liability for third party losses
15. DamagetothirdpartypropertyexceptasprovidedinthePackaging,ContainersandEquipmentbenefit.
16. Loss,damage,liability,destruction,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtobyorarisingfromasbestos,oranymaterialscontainingasbestosinwhateverformorquantity.
17. Theinfectionofproperty,humans,animalsorotherlivingcreaturesbyinfectiousmatter,orthespreadingorreleasingthereof,byYou,whetheraccidentally,knowingly,wilfully,maliciouslyorotherwiseincludinganylossescausedbyquarantinablediseaselistedintheAustralianQuarantineAct1908orsimilar;
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18. failuretoarrangeinsurancetothebenefitofathirdparty,orforanyclaimsarisingfromYourprofessionalnegligenceanderrorsoromissionsassociatedwithanyofferofinsurance.
War when not in Transit
19. WarorWarlikeActivitieswhilstYourpropertyisnotonboardaship,vesseloraircraft.
Cargo ISM Endorsement(ThisEndorsementisapplicabletoshipmentsonboardallvesselsof500grosstonsormore.)
Innocaseshallthisinsurancecoverloss,damageorexpensewheretheGoodsInsuredarecarriedbyavesselthatisnotISMCodecertifiedorwhoseownersoroperatorsdonotholdanISMCodeDocumentofCompliancewhen,atthetimeofloadingoftheGoodsInsuredonboardthevessel,Youwereaware,orintheordinarycourseofbusinessshouldhavebeenaware:
• eitherthatsuchvesselwasnotcertifiedinaccordancewiththeISMCode;or
• thatacurrentISMCodeDocumentofCompliancewasnotheldbyherownersoroperators;
asrequiredundertheSOLASConvention1974asamended.
ThisexclusionshallnotapplywherethisinsurancehasbeenassignedtothepartyclaiminghereunderwhohasboughtoragreedtobuytheGoodsinsuredingoodfaithunderabindingcontract.
Nuclear/Terrorism/Cyber exclusionsThefollowingconditionsshallbeparamountwheretheyconflictwithanytermscontainedinthisPolicyorClauseorconditionsreferredtoherein.Intheeventofconflictbetweenthesethreeclauses,theInstituteRadioactiveContamination,Chemical,Biological,Bio-Chemical;ElectromagneticWeaponsExclusionClauseandInstituteCyberAttackExclusionClauseshallprevail.
Institute Radioactive Contamination, Chemical, Biological, Bio-Chemical and Electromagnetic Weapons Exclusion Clause 10/11/03
InnocaseshallthisPolicycoverlossdamageliabilityorexpensedirectlyorindirectlycausedbyorcontributedtobyorarisingfrom:
• ionisingradiationsfromorcontaminationbyradioactivityfromanynuclearfuelorfromanynuclearwasteorfromthecombustionofnuclearfuel;
• theradioactive,toxic,explosiveorotherhazardousorcontaminatingpropertiesofanynuclearinstallation,reactororothernuclearassemblyornuclearcomponentthereof;
• anyweaponordeviceemployingatomicornuclearfissionand/orfusionorotherlikereactionorradioactiveforceormatter;
• theradioactive,toxic,explosiveorotherhazardousorcontaminatingpropertiesofanyradioactivematter.Theexclusioninthissub-clausedoesnotextendtoradioactiveisotopes,otherthannuclearfuel,whensuchisotopesarebeingprepared,carried,stored,orusedforcommercial,agricultural,medical,scientificorothersimilarpeacefulpurposes;
• anychemical,biological,bio-chemical,orelectromagneticweapon.
Transit and Terrorism Clause
WherethisPolicycoverslossofordamagetotheGoodscausedbyanyterroristoranypersonactingfromapoliticalmotive,thiscoverappliesonlywhentheGoodsareinTransitandceases:
• aspertheTransitclausescontainedwithinthePolicy;or
• ondeliverytotheConsignee’sorotherfinalwarehouseorplaceofstorage;or
• ondeliverytoanyotherwarehouseorplaceofstorage,whetherpriortooratdestination,whichYouelecttouseeitherforstorageotherthanintheordinarycourseofTransitorforallocationordistribution;or
• inrespectofmarineTransits,ontheexpiryof60daysaftercompletionofdischargeoversideoftheGoodsfromtheoverseasvesselatthefinalportofdischarge;or
• inrespectofairTransits,ontheexpiryof30daysafterunloadingtheGoodsfromtheaircraftatthefinalplaceofdischarge;
whichevershallfirstoccur.
WherethisPolicyspecificallyprovidescoverforinlandorotherfurtherTransitsfollowingonfromstorage,or
terminationasprovidedforabove,coverwillre-attachandterminateaspertheTransitclauseexpressedinthePolicyandasabove.
Cyber Attack Exclusion Clause
Innocaseshallthisinsurancecoverlossdamageliabilityorexpensedirectlyorindirectlycausedbyorcontributedtobyorarisingfromtheuseoroperation,asameansforinflictingharm,ofanycomputer,computersystem,computersoftwareprogramme,maliciouscode,computervirusorprocessoranyotherelectronicsystem.
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However,thisexclusionwillnotoperatetoexcludelosses(whichwouldotherwisebecoveredbypoliciescoveringrisksofWar,civilWar,revolution,rebellion,insurrection,orcivilstrifearisingtherefrom,oranyhostileactbyoragainstabelligerentpower,orTerrorismoranypersonactingfromapoliticalmotive),whicharisefromtheuseofanycomputer,computersystemorcomputersoftwareprogrammeoranyotherelectronicsysteminthelaunchand/orguidancesystemand/orfiringmechanismofanyweaponormissile.
General conditions and cover restrictions applicable to all SectionsApplicable lawThisPolicyisgovernedbyandshallbeconstruedinaccordancewiththelawsofAustralia.AnydisputerelatingtothePolicyshallbesubmittedtotheexclusivejurisdictionofacompetentCourtwithintheStateorTerritoryofAustraliainwhichthePolicywasissued.
AuthorityWemaygivetoandobtainfromanyotherinsurers,insurancereferencebureausandcreditreportingagenciesanyinformationrelatingtoYourcreditorinsurancehistoryaswellasinsuranceclaimsinformation.
Breach of Warranty or conditionWhere 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.
Declaration of actual Turnover or SendingsThedepositPremiumadvisedattheinceptionofeachPeriodofInsuranceisprovisionalandbasedontheestimatedannualTurnoverorSendingsduringthePolicyperiodagreed.OnexpiryofthePeriodofInsurancethePolicywillbeadjustedbyapplyingtheagreedratepercenttotheactualTurnoverorSendingsforthatperiod.ForthepurposeofascertaininganyadjustmenttothisPremium
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Youmustprovide,withinninety(90)daysfromtheexpiryofeachPeriodofInsurance,theactualTurnoverorSendings.
ThedifferencebetweenthePremiumbasedontheactualfiguresattheendoftheperiodandthePremiumcalculatedatinceptionwillbepaidbyorallowedtoYou,asthecasemaybe,butinanyeventaminimumretainedPremiumequivalentto75%orasmayotherwisebeagreed,ofthefullPremiumbasedontheinitialestimateswillberetainedbyUs.
WeagreetowaiveanyadjustmentofPremiumotherthanthedifferencebetweenthedepositPremiumpaidandthefullPremiumbasedontheoriginalestimatesprovidedbyYouwherethedifferencebetweentheactualTurnover/SendingsandtheestimatedTurnover/Sendingsislessthan10%.
IfthedepositPremiumis$5,000orless,thedepositPremiumshallberegardedastheminimumPremiumforthePeriodofInsuranceshownintheScheduleandnoadjustmentofactualfiguresisrequiredotherthanthedifferencebetweenthedepositPremiumpaidandthefullPremiumbasedontheoriginalestimatesprovidedbyYou.
Youarerequiredandagreetokeepaccuraterecordsofallsuchfiguresand,onrequest,toprovideUswithanauditedcopyoftheserecords.IfWerequestanauditedcopyoftherecordsandthisisnotavailablethenWemayappointanauditor.WeshallpayforthecostoftheauditbutiftheauditrevealsthatthefiguresdeclaredbyYouareincorrect,YoushallreimburseUsforthecostoftheaudit.
Delay or interruption by YouIfafterdischargeoftheGoodsattheportofdestination,YoubyYouractionorfailuretotakeaction:
• delaystheforwardingor,
• causestheGoodstobestoredatanylocationotherthanthebuyers’orotherfinalwarehouseorplaceofstorageattheportofdestination.
YouractionorfailuremayprejudiceYourrightsunderthisPolicytomakeaclaim.
Due CareItisaconditionofthisPolicythatatallstagesYoumusttakeDueCareinthehandling,storage,protectionandmovementofGoodsandtheprovisionofinstructionstoanytransportservicesprovidersYouengagetotransportYourGoods.
Exchange rateTheexchangerateusedbyUsforanycurrencyconversionsapplicabletodeclarationsorclaimsettlementsmadeunderthisPolicywillbetheSpotSellrate(asadvisedtoUsbyOurbank)applicableonthedateoftheBillofLadingorAirWaybill.
“On deck” shipmentsWheretheGoodsaretransportedinshippingcontainerswhicharenotfullyenclosedandtheseareshipped“ondeck”,coverexcludesloss,damageorexpensecausedbyorarisingfromrust,oxidisation,discolouration,freshwaterorseawaterunlessasaresultofaperilinsuredbyInstituteCargoClauses(B)withsubclause1.2.3deleted.
Other insuranceIfatthetimeofanyloss,damageorAccidentthatmaygiverisetoclaimunderthePolicy,thereisanyotherinsurancePolicycoveringtheGoodswhilstintheordinarycourseofTransiteffectedbyanyotherpartythenWereservetherighttoseekcontributionfromanyotherInsurer(s).IfYouareawareofsuchotherinsurancecoveringeitherwhollyorinparttheGoods,YouarerequiredtonotifyUs.YoumustalsoprovideUswithfullinformationandallreasonableassistanceintherecoveryofOurrateableproportionofsuchlossordamage.
Prohibited cover or paymentsIrrespectiveofanyotherprovisionofthePolicy,Weshallnotbedeemedtoprovidecoverorbeliabletopayanyclaimorprovideanybenefit(includingarefundaPremium)hereundertotheextentthattheprovisionofsuchcover,paymentofsuchclaimorprovisionofsuchbenefitwouldcontraveneorotherwiseexposeUstoanypenalty,sanction,prohibitionorrestrictionunderUnitedNationsresolutionsorthetradeoreconomicsanctions,lawsorregulationsofAustralia,NewZealand,theEuropeanUnion,UnitedKingdomorUnitedStatesofAmerica.
Subrogation/Rights of recoveryWehavetherighttotakeactionorinstitutelegalproceedings,inYourname,fortherecoveryofpaymentsmadeandexpensesincurredinrelationtoanyclaimcoveredbythisPolicy,againstanyperson,companyorentitylegallyliabletoYouinrespectofthatclaim.YoumustprovideUswithfullinformationandallreasonableassistanceintherecoveryofthosepaymentsorexpenses.
Waiver of subrogation rightsWearenotliabletopayanybenefitsunderthisPolicyforlossordamagetoGoodsifYouagreeorhaveagreedtolimitorexcludeanyrightofrecoveryagainstanythirdpartywhowouldbeliabletocompensateYouwithrespecttothatdamagetoGoodsafterthelossofordamagetotheGoodshasoccurred.ThisprovisiondoesnotapplytoYoursignatureofaTransportOperator’sstandardconditionsofcartage,consignmentnote,BillofLading,AirWaybillorsimilarcontractofaffreightment.
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War and Strikes Variation ClauseThePremiumandratesquoted/chargedareinclusiveoftheWarandstrikesrateschargedbyUsasattheattachmentdateofthePolicy.AsWarandstrikesexposuresmayvaryduringthecurrencyofthePolicy,WereservestherighttovarytheWarandstrikesratesatanytimebygivingYou(orYourbroker/agentorrepresentative)7daysnoticeinwritingofanysuchvariation.
AnyvariationinPremiumwillbecalculatedbydeductingtheratechargedatthecommencementofthePolicyfromthenewrateandapplyingthedifferencetotheexposedTurnover.ThemethodofpaymentforanydifferenceinPremiumwillbeadvisedaspartofthenoticetoamendWarandstrikesrates.
NothingcontainedhereinshallvarythecancellationprovisionsofthisPolicy.
ClaimsGST noticeThisPolicyhasaGSTprovisioninrelationtoPremiumandOurpaymenttoYouforclaims.ItmayhaveanimpactonhowYoudeterminetheamountofinsuranceYouneed.Pleasereaditcarefully.SeekprofessionaladviceifYouhaveanyqueriesaboutGSTandYourinsurance.
Limit of IndemnityAllmonetarylimitsinthisPolicymaybeincreasedforGSTinsomecircumstances(seebelow).
Claim settlements – where We agree to pay
WhenWecalculatetheamountWewillpay,WewillatYourrequesteitherpayYouortheowneroftheInsuredGoodsorLivestockandWewillhaveregardtotheitemsbelow:
• WhereYouareliabletopayanamountforGSTinrespectofanacquisitionrelevanttoYourclaim(suchasservicestorepairadamagediteminsuredunderthePolicy)WewillpayfortheGSTamount.
WewillpaytheGSTamountinadditiontotheLimitofIndemnityorotherlimitsshowninthePolicyorinYourSchedule.
IfYourLimitofIndemnityisnotsufficienttocoverYourloss,WewillonlypaytheGSTamountthatrelatestoOursettlementofYourclaim.
WewillreducetheGSTamountWepayforbytheamountofanyinputtaxcreditstowhichYouareorwouldbeentitled.
• WhereWemakeapaymentunderthePolicyascompensationinsteadofpaymentforarelevantacquisition,WewillreducetheamountofthepaymentbytheamountofanyinputtaxcreditthatYouwouldhavebeenentitledtohadthepaymentbeenappliedtoarelevantacquisition.
Disclosure – Input tax credit entitlement
IfYouregister,orareregistered,forGSTYouarerequiredtotellUsYourentitlementtoaninputtaxcrediton
YourPremium.IfYoufailtodiscloseorunderstateYourentitlement,YoumaybeliableforGSTonaclaimWemaypay.ThePolicydoesnotcoverYouforthisGSTliability,orforanyfine,penaltyorchargeforwhichYoumaybeliable.
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Claims proceduresTheseproceduresareimportant.FailuretofollowthemmightjeopardiseaclaimunderthisPolicy.
A. You(orYourbuyerintheeventofanexportshipment)MUST:
AssoonasYouorthebuyerbecomeawareofany,oranypotentiallossordamagewhichmayresultinaclaimunderthePolicyYouorYourbuyermust,atYourorthebuyer’sownexpenseasifYouarenotinsured:
(i) takesuchmeasuresasmaybereasonableforthepurposeofavertingorminimisingsuchlossordamage.WewillreimburseYouorthebuyerforanychargesproperlyandreasonablyincurredinpursuanceoftheseduties.
MeasurestakenbyYou,thebuyerorUswiththeobjectofsaving,protectingorrecoveringtheGoodsinsuredshallnotbeconsideredasawaiveroracceptanceofabandonmentorotherwiseprejudicetherightsofanyparty;
(ii) immediatelyadviseUsor,inthecaseofanexportshipment,Ouroverseasrepresentative,ofthelossordamageordeathorinjuryofLivestockwhereapplicableincludingthelocationandcircumstancesoftheloss,timeanddate.WeorOuroverseasrepresentativemaydecidetoappointasurveyororanassessortoinspectthedamagetodeterminethecause,andwhomightberesponsibleforit.YouorYourbuyershouldco-operatewiththesurveyorfullyasthiswillassistwiththespeedyadjustmentofYourclaim;
(iii) takeallreasonableactiontorecoverlostorstolenGoodsandminimisetheclaim,including,inrespectofLivestock,musteringandagistmentoftheanimals(whichareclaimableunderthisPolicytotheextentofthecoverslistedundertheAdditionalbenefitsapplicabletosection1);
(iv) asfaraspossiblepreserveanyGoodsorotheritemswhichmightprovenecessaryorusefulasevidence.InrespectofLivestock,whereithasbeennecessarytoremoveordisposeofthemontheorderofresponsibleofficials,deathoftheanimalistobecertifiedbyaveterinarianortheresponsibleofficial;
(v) properlypreserveandexerciseallrightsagainstcarriers,baileesorotherthirdpartiesspecifically:
• donotreleasethosepartiesfromliability;
• donotgive“cleanreceipts”whereYoubelievethattheGoodshavesufferedlossordamage.Thatis,whentheGoodsaredelivered,Youwillbeaskedtosignthecarrier’sreceipt(i.e.consignmentnoteordeliverydocket)whichusuallyacknowledgesthattheconsignmentwasreceivedingoodcondition.
Ifthereisanyobviousevidenceofdamageorshortagedonotunderanycircumstancessignthedocument.
Ifasignatureisrequired,addanotetotheeffectthattheGoodsweredelivereddamaged.Thatiswhatistermeda“qualifiedreceipt”.
IfYouorthebuyersuspectthatthereisdamage,evenifitisnotobvious,addanotetosaythat‘YouareacceptingtheGoodsinapparentgoodorderandcondition’.
Givingasignaturewithoutanycommentistermedgiving(orsigning)a“cleanreceipt”.
A“cleanreceipt”infersthatYouorthebuyeragreethattheGoodswerenotdamagedatthetimethesignaturewasgiven.ThatmakesitdifficultforYouorthebuyertoprovetothecarrierthatYouorthebuyerhaveavalidclaim.
• ifYourGoodsaredeliveredinashippingcontainer,examinethelocksandsealsandcomparethenumberswiththoselistedontheshippingdocuments,preferablybeforethecontainerisremovedfromtheConveyingVehiclethatdeliveredittoYourorthebuyer’spremises.
Ifthecontainerisdelivereddamagedorwithsealsbrokenormissingorwithsealsotherthanstatedintheshippingdocuments,notethedeliverydocketaccordinglyandretainalldefectiveorirregularsealsforsubsequentidentification;
(vi) ifthelossordamagewasnotimmediatelyapparentatthetimeofdelivery,applyimmediatelyforsurveysbythecarriersorotherbailees,tobeconductedwithin3daysofdelivery;
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(vii) provideUsorOuroverseasrepresentativewithawrittenclaimdetailing:
• thenatureandextentofthelossordamage;
• anyotherinsurancethatmayexistontheGoods;
(viii) attachoriginalorlegiblephotocopies(ofbothsidesofanydocumentthathasanythingonthereverse)ofanyofthefollowingthatareapplicabletothecircumstances:
• shippinginvoices,specifications,packinglists,weightnotes,gatepasses;
• commercialinvoices,customsdocuments;
• billoflading,airwaybill,orconsignmentnote(anoriginalispreferable,andmayberequiredforanyrecoveryactionagainstathirdparty);
• copiesofallcorrespondenceexchangedwithanythirdparty;
• anyinternal(withinYourcompany)reportsormemosdetailingtheextentofthedamage;
• repairquotationsorreceiptsandanyotherdocumentsthatmightconfirmthecircumstancesofthelossordamageandsubstantiatetheamount/sbeingclaimed.
B. YouorYourbuyerMUSTNOT:
(i) authorisetherepairorreplacementofanythingwithoutOuragreement;
(ii) disposeofanydamagedGoodswithoutgivingUsorOuroverseasrepresentativetheopportunitytoexaminethoseGoods.
C. AfterYouorthebuyerhaveadvisedUsorOuroverseasrepresentativeofanylossofordamagetoGoods:
(i) YouorthebuyermustcomplywithallPolicytermsandconditionsbeforeWewillmeetanyclaimunderthePolicy;
(ii) WehavetherighttorecoverfromanypersonagainstwhomYouorthebuyermaybeabletoclaimanymoneypaidbyUs.Wemaytakeoverandconduct,inYournameorthebuyer’sname,thedefenceorsettlementofanyclaimandWewillhavefulldiscretionintheconductofanyproceedingsinconnectionwiththeclaim;
(iii) WemaypayYouorthebuyertheSumInsuredunderthePolicyoranylesseramountforwhichaclaimorclaimsmayreasonablybesettled.AfterWehavepaidYouorthebuyer,Wewillnolongerbeliablefortheclaim(s)(orfutureconductoftheclaim(s))exceptforcostsandexpensesincurredupuntilthetimeWepayYouorthebuyerthatWepreviouslyagreedtopay.
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POL1117BA/AM&T 03/18
For all enquiries please call your insurance intermediary
amandtaustralia.com.au
AM&T (Allianz Marine and Transit Underwriting Agency Pty Limited) AFS Representative No. 423910 ABN 98 155 554 279 Level 12, 80 Mount Street, North Sydney, NSW 2060 as agents of the insurer Allianz Australia Insurance Limited AFS Licence No. 234708 ABN 15 000 122 850
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