EXCLUSION OF RISK COVERED BY HULL POLICIES ETC
The Association shall not insure the Member to any extent whatsoever against any costs to the extent that they relate to a loss in respect of which he was insured by any insurer other than the Association, or would have been insured if , at the time of the incident giving rise to the said costs, the entered ship had been:
- fully insured for its proper value under Hull policies on terms not less wide than those of the Lloyd’s Marine Policy with Institute Time Clauses – Hulls 1.10.83 with no deductible or franchise or self-insurance applicable to claims under such policies.
- fully insured for its proper value against war risks on terms not less wide than under the Rules of Class III of the Association with the Institute War and Strike Clauses Hulls – Time 01.11.95, with no deductible, franchise or self-insurance, and
- fully insured against risks covered by the Association’s Class I – Protection and Indemnity – or by some equally wide insurance.