Rule 8 Risks Specifically Excluded

RISKS SPECIFICALLY EXCLUDED

Unless the Directors in their discretion otherwise decide, the Member shall not be covered for the costs of asserting or defending any claims or disputes or proceedings in respect of:

  1. a substantial body of shipowners rather than the individual Member, unless all or the majority are entered in the Class
  2. diplomatic action or action by national or international bodies, other than those referred to in Rule 5.4,
  3. liner conferences,
  4. an amount which is less than US$ 5000.00 (Five Thousand United States Dollars),
  5. a claim which the Managers, in their discretion, conclude is not economically recoverable or has no reasonable prospect of recovery, taking into account, without prejudice to the generality of the foregoing, any legal problems of enforcement and any assets available to satisfy a judgment or award,
  6. a claim which has arisen owing to the want of due diligence of the Member, his managers, superintendents or onshore management in the chartering, control or management of an entered ship,
  7. a claim against the Member which relates to money owed by or damages claimed against that Member and where the Managers in their discretion conclude that there is no justification in the Member’s refusal to pay,
  8. a claim where the Member, his managers, superintendents or onshore management knew or ought reasonably to have known that he was in breach of any regulations or agreements, whether relating to safety, navigation, port requirements or contracts of employment or otherwise.