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FD&D (CLASS 6) / PART II / RULE 7
SPECIAL INSURANCES
7.1 Fixed Premium
The Managers may accept the entry of a Ship on terms that the Member is liable to pay a fixed premium provided that every Member whose application for the entry of a Ship is accepted on the basis of paying a fixed premium shall be bound to pay and shall pay to the Association such sums as shall have been agreed with the Managers and at such time or times as the Managers shall have specified.
7.2 Special Acceptance
The Managers may accept insurances including entries of Ships on special terms as to Membership and Contribution and as to the nature and extent of risks covered, in respect of additional risks not set out in Rule 17 Risks Covered and Rule 18 Extent of Cover, provided that where such insurance is accepted the person insured shall be bound to pay and shall pay to the Association such sums as shall have been agreed with the Managers and at such time or times as the Managers shall have specified. In particular the Managers may also accept such insurances from other insurers.
7.3 Reinsurance and Recovery
Without prejudice to the generality of Rule 38 Reinsurance, the Managers may reinsure the whole or any part of the risk or risks of the Association insured under this Rule 7 Special Insurances and where such reinsurance is arranged the Member shall be entitled to recover only the net amount actually recovered under such reinsurance arrangements, together with that proportion (if any) of the risk or risks retained by the Association.