Bunkers cover

This insurance is available to Charterer Members of the Association and covers the charterer's proprietary interest in bunkers carried on board an entered vessel.

The insurance is offered on standard terms based on the Institute Cargo Clauses (C) of 1st January 1982, Institute War Clauses (Cargo) and Institute Strike Clauses (Cargo) both of 1st January 1982. These standard terms include, inter alia, loss or damage reasonably attributable to fire or explosion; stranding, grounding, sinking or capsizing of the vessel; and to collision of the vessel with any external object other than water. The basic cover excludes, inter alia, ordinary loss in weight or volume; loss, damage or expense caused by inherent vice of the bunkers.

The maximum limit of bunkers insurance is USD 2,000,000.