ADDITIONAL INSURANCES / PART II / Section K - Rights of Recourse / Clause 1

RIGHTS OF RECOURSE UNDER CONTRACTS FOR CARRIAGE

This insurance is to indemnify the Assured against liabilities, together with costs and expenses incidental thereto, arising under or in connection with the terms of a contract for carriage where there has been a waiver or limitation of, or failure to incorporate, rights of recourse. The following shall be recoverable:

1.1

Liability of the Assured in respect of such liabilities, losses, costs and expenses as would be covered under the Association’s Rules of Class 3 save that they arise out of or are borne by the Assured as a result of the waiver or limitation of, or failure to incorporate, rights of recourse under or in connection with a contract for carriage wholly or partly by sea that would have been available under a bill of lading contract which incorporated Article IV Rule 6 of the Hague or Hague Visby Rules or any equivalent provision under other applicable law.