Charterers’ Insurances 2026/2027 Page 1 of 50 CONTENTS Page Part I Introductory 3 1 Risks Covered 3 2 Costs and expenses, Sue and Labour 3 Part II Charterers’ Insurance 4 SECTION A CHARTERERS’ LIABILITY INSURANCE (CSL) 4 1 Seafarers 4 2 Passengers 5 3 Not applicable 6 4 Injury to, Illness of or Death of Third Parties 6 5 Stowaways or Persons Saved at Sea 6 6 Diversion Expenses 6 7 Repatriation 6 8 Life Salvage 6 9 Collision 7 10 Damage to Property 7 11 Non-Contact Damage to Ships 8 12 Pollution 9 13 Wreck Removal 10 14 Towage 10 15 Contracts of Indemnity or Guarantee 11 16 Quarantine 11 17 Cargo 11 18 General Average 15 19 Fines 15 20 Not applicable 16 21 Liability to and in respect of the Chartered Ship 16 22 Not applicable 17 23 Risks Incidental to Chartering 17 24 Special Cover 17 25 Special Cover for Salvors 18 26 Special Cover for Extended Through Transit Risks 18 27 Risks Specifically Excluded 19 28 Exclusion of Certain Specialist Risks 20 SECTION B CHARTERERS’ BUNKERS 22 1 Charterers’ Bunkers Limited Conditions 22 2 Charterers’ Bunkers All Risks 22 SECTION C CARGO OWNERS’ LEGAL LIABILITY 24 1 Cargo Owners’ Legal Liability 24 Part III Extensions to Cover 25 1 War and Strikes Risks 25 Charterers’ Insurances 2026/2027 Page 2 of 50 CONTENTS Page Part IV Exclusions, Limitations and Warranties 27 1 Excluded Risks 27 2 Sanctions 27 3 Imprudent Trading 27 4 Cyber Risks 27 5 Communicable Disease Risks 27 6 War and Strikes Risks 29 7 Nuclear Risks 30 8 Other Insurances 31 9 Limitation of Liability 32 10 Classification and Condition of Ships 32 11 Byelaws 34 Part V Claims 35 1 Obligation of the Assured in respect of Claims 35 2 Powers of the Managers relating to the Handling and Settlement of Claims 35 3 Powers of the Board and the Committee relating to the Settlement of Claims on the Association 36 Part VI General Terms & Conditions 38 1 Articles of Association 38 2 Definitions 38 3 Extent of Cover 40 4 Sanctions 41 5 Insurance Act 2015 41 6 Right of Recovery 42 7 Application for Insurance 42 8 Co-assureds 43 9 Period of Insurance 44 10 Payment 44 11 Mortgagees 45 12 Associated Companies 45 13 Termination of All Insurances 46 14 Termination of Insurance of Ship 46 15 Effect of Termination 47 16 Premium Due on Termination of Insurance 47 17 Reinsurance 48 18 Forbearance 48 19 Assignment 48 20 Delegation 49 21 Disputes and Differences 49 22 Notices 50 23 Jurisdiction 50 Charterers’ Insurances 2026/2027 Page 3 of 50 Part I Introductory 1 Risks Covered Liabilities, costs and expenses arising out of events occurring during the Policy Period and insured by the Association on the terms set out in the Association’s Certificate of Insurance and incorporating inter alia the following: 1.1 Part I Introductory 1.2 Part II Charterers’ Insurances as referenced in the Certificate of Insurance 1.3 Part III Extensions to Cover as referenced in the Certificate of Insurance. 1.4 Part IV Exclusions, Limitations and Warranties 1.5 Part V Claims 1.6 Part VI General Terms & Conditions. 1.7 Such other terms and conditions as may be agreed between the Association and the Assured as set out in the Certificate of Insurance. 2 Costs and expenses, Sue and Labour 2.1 Costs and expenses Costs and expenses, including legal fees, which the Assured may incur in respect of any liability or expenditure against which the Assured is insured. 2.2 Sue and labour Losses, costs and expenses necessarily incurred by the Assured after an incident in order to avoid or reduce a liabili