Update to Notice of alteration to terms and conditions dated 21 December 2022

TO ALL MEMBERS

7 February 2023

NOTICE IS HEREBY GIVEN that for all Rule based entries subject to the limits of cover stipulated in the Rules of the Association, the cover provided under the War Risk Extension Clause for vessels transiting and/or calling within Russian waters including their coastal waters up to 12 nautical miles offshore, and certain European waters as defined below, is sub-limited to US$ 80 million any one event, each vessel.  The limitation in respect to certain European waters is as follows:

1. Sea of Azov and Black Sea waters plus inland waters enclosed by the following boundaries:

a) On the west, around Romanian waters, from the Ukraine-Romania border at 45° 10.858'N, 29° 45.929'E to high seas point 45° 11.235'N, 29° 51.140'E

b) thence to high seas point 45° 11.474'N, 29° 59.563'E and on to high seas point 45° 5.354'N, 30° 2.408'E

c) thence to high seas point 44° 46.625'N, 30° 58.722'E and on to high seas point 44° 44.244'N, 31° 10.497'E

d) thence to high seas point 44° 2.877'N, 31° 24.602'E and on to high seas point 43° 27.091'N, 31° 19.954'E

e) and then east to the Russia-Georgia border at 43° 23.126'N, 40° 0.599'E

 

2. All inland waters of Ukraine;

 

3. Inland waters of Russia within the following areas:

a) Crimean Peninsula

b) River Don, from Sea of Azov to vertical line at 41° E

c) River Donets, from River Don to Ukraine border

 

4. All inland waters of Belarus south of horizontal line at 52° 30’ N

 

Cover is maintained with a limit of US$ 500 million for all vessels whilst trading in waters other than those as defined above.

For Members with non-poolable extensions to their cover that are subject to sub-limits and in respect of Salvors (absent tug pollution cover), Indonesian LPG and Crew Familiarisation Cover that form part of the ancillary covers under the International Group program, the “RUB Exclusion” contained in the Notice to Rules based entries with a fixed limit will apply to those extensions of cover.

This amendment will be effective from 20 February 2023.

NOTICE IS HEREBY GIVEN that for all Rules based entries with a fixed limit, which include the War Risk Extension Clause, the liabilities covered under these clauses will exclude all loss, damage, liability, cost or expense:

a) caused by or arising from or in connection with any Russia-Ukraine conflict and/or any expansion of such conflict; or

b) in any area or territory or territorial waters where Russian armed forces, Russian-backed forces, and/or Russian authorities, are engaged in conflict within the territories (including territorial waters) of the Russian Federation, Belarus, Ukraine and any disputed regions of Ukraine, the Crimean Peninsula and the Republic of Moldova.

c) arising from capture, seizure, arrest, detainment, confiscation, nationalisation, expropriation, deprivation or requisition for title or use, or the restraint of movement of vessels and cargo in the territories (including territorial waters) of the Russian Federation, Belarus, Ukraine and any disputed regions of Ukraine, the Crimean Peninsula and the Republic of Moldova (the “RUB Exclusion”).

Cover remains available for war risks that fall outside of this exclusion, subject to the other exclusions set out in your insurance policy.

Cover under the War Risk Extension Clause may be cancelled by the Association on giving 72 hours’ notice (such cancellation becoming effective on the expiry of 72 hours from midnight on the day on which notice of cancellation is issued by the Association).

As per the Notice issued on 21 December 2022, the RUB Exclusion has been effective since 1 January 2023 and the amendment to the notice of cancellation will be effective from 20 February 2023.

NOTICE IS HEREBY GIVEN that for all plain language entries with the Association, the “War risks” section under the heading “Your cover” in your liability insurance policy applies, but excluding all loss, damage, liability, cost or expense:

a) caused by or arising from or in connection with any Russia-Ukraine conflict and/or any expansion of such conflict; or

b) in any area or territory or territorial waters where Russian armed forces, Russian-backed forces, and/or Russian authorities, are engaged in conflict within the territories (including territorial waters) of the Russian Federation, Belarus, Ukraine and any disputed regions of Ukraine, the Crimean Peninsula and the Republic of Moldova.

c) arising from capture, seizure, arrest, detainment, confiscation, nationalisation, expropriation, deprivation or requisition for title or use, or the restraint of movement of vessels and cargo in the territories (including territorial waters) of the Russian Federation, Belarus, Ukraine and any disputed regions of Ukraine, the Crimean Peninsula and the Republic of Moldova.

Cover remains available for war risks that fall outside of this exclusion, subject to the other exclusions set out in your insurance policy.

We may terminate cover for war risks upon written notice by Us to You to discontinue war risks cover, with cancellation becoming effective on no less than the expiry of 72 hours from midnight on the day on which We issue notice of cancellation.

As per the Notice issued on 21 December 2022, the RUB Exclusion has been effective since 1 January 2023 and the amendment to the notice of cancellation will be effective from 20 February 2023.