P&I (CLASS 3) / PART III / RULE 19 RISKS COVERED / 19.15 Contracts of Indemnity or Guarantee

Liability which a Member may incur, together with costs and expenses incidental thereto, for injury to, illness of or death of any person or for loss of, or damage to, cargo (subject to Rule 20.1.4 Cargo and freight) or other property, arising under the terms of a contract made by the Member in relation to services to be provided to or by an Entered Ship.

Provided always that:

19.15.1 the contract has been approved by the Managers and the Member has paid, or agreed to pay, such additional Call or premium as may be required by the Association; or

19.15.2 the Board (or, in the case of claims not exceeding USD2,000,000, the Committee) in its discretion decides that the Member should be reimbursed.