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Cargo Insurance within Australia

Policy Document.

Allianz Marine & Transit Underwriting Agency

As a specialist, our exclusive focus is on providing solutions to clients in the marine, transport and logistics industries.

allianzmarineandtransit.com.au

77180 POL615 AMIT Cargo in Australia cov_D1.indd 1 9/04/15 10:25 AM

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Table of contentsPage

Additional benefits 14

Accumulation 14

Acquiredcompanies 14

Automaticreinstatement 14

BrandsClause 14

Buyers/sellerscontingencycover 14

Containerdemurragecharges 14

Debrisremoval/cleanupcosts 14

Delayedunpacking 15

Exhibition/demonstration 15

Expeditingexpenses 15

Fumigationanddecontamination 15

Insolvencyofcarriers 15

Interestsofotherparties 15

Livestock–Agistment 16

Livestock–Musteringcosts 16

Livestock–“Wanderingoff” 16

LossofInformation/data/media 16

Onforwarding 16

Packaging,containersandequipment 16

Repackingcosts 16

Resecuringcosts 16

SealedContainerClause 16

SortingChargesClause 16

StrikesDiversionExpensesClause 17

Sueandlabour 17

TransportoutsideGeographicalLimits 17

Traveller’sSamples 17

ToolsofTrade 17

Youremployee’sPersonalProperty 17

General exclusions 18

Property(Goods)exclusions 18

Perilsexclusions 18

General conditions and cover restrictions 20

Applicablelaw 20

Authority 20

Page

Introduction and important notices 3

Introduction 3

WhoistheInsurer? 3

AboutAllianzMarine&TransitUnderwritingAgencyandAllianz 3

OurcontractwithYou 3

UnderstandingYourPolicyanditsimportanttermsandconditions 3

Applyingforcover 4

Renewalprocedure 4

Contactforassistanceorconfirmationofcover 4

YourDutyofDisclosure 4

AlterationofRisk 5

Premium 5

NonpaymentofPremiumbyinstalments–Righttorefuseaclaimand/orcancelYourPolicy 5

InstalmentPremiumservicefee 5

Howtomakeaclaim 5

Cancellation 5

Privacynotice 6

GeneralInsuranceCodeofPractice 7

Disputeresolutionprocess–helpingYousolveanyproblems 7

Hereiswhattodoifacomplaintordisputearises 7

IfYouarenotsatisfiedwiththeoutcomeofthisprocess 7

Ifthisinsurancehasbeenissuedthroughaninsuranceintermediary 7

Words with special meaning 8

Cover 10

ScopeofCover 10

TheTransit 10

InsuredEvents 11

OptionA–AccidentalDamage 11

OptionB–SpecifiedPerils 12

HowmuchWewillpay 12

77180 POL615 AM&T Cargo in Australia txt_D1.indd 1 9/04/15 10:30 AM

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PageBreachofWarrantyorcondition 20

DeckShipmentsClause 20

DeclarationofactualTurnoverorSendings 20

DelayorinterruptionbyYou 21

DueCare 21

Otherinsurance 21

Prohibitedcoverorpayments 21

Subrogation/RightsofRecoveryClause 21

Waiverofsubrogationrights 21

Claims 22

GSTnotice 22

Claimsprocedures 22


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Our contract with YouWhereWeagreetoenterintoaPolicywithYouitisacontractofinsurancebetweenUsandYou(seethedefinitionof“You”fordetailsofwhoiscoveredbythisterm).WeonlycoverthosepartiesshownintheScheduleunlessotherwisestatedinthePolicyasbeingapersonorentityentitledtocover.IfmorethanonepersonisinsuredunderthePolicy,afailureorwrongfulactionbyoneofthosepersonsmayadverselyaffecttherightsofanyotherpersoninsuredunderthePolicy.

WecoverYouinaccordancewiththeinsuranceasdescribedinthisPolicy,forthePeriodofInsuranceshownontheScheduleandforanysubsequentperiodwhererenewalmaybeagreed.ThemaximumamountWewillpayunderthePolicywillnotexceedtheSumInsuredshownontheScheduleunlessotherwisespecifiedherein.

YouarerequiredtocomplywiththetermsandconditionsofthePolicy.PleaserememberthatifYoudonotcomplywithanytermorcondition,Wemay(totheextentpermittedbylaw)declineorreduceanyclaimpaymentand/orcancelYourPolicy.

ThePolicyconsistsof:

• thisdocumentwhichsetsoutthestandardtermsofYourcoveranditslimitations;

• YourcurrentScheduleissuedbyUs.TheScheduleisaseparatedocument,whichshowstheinsurancedetailsrelevanttoYou.Itmayincludeadditionalterms,conditionsandexclusionsrelevanttoYouthatamendthestandardtermsofthisdocument;and

• anyotherchangetothetermsofthePolicyotherwiseadvisedbyUsinwriting(suchasanEndorsement).Thesewrittenchangesmayvaryormodifytheabovedocuments.

Theseareallimportantdocumentsandshouldbecarefullyreadtogetherandkeptinasafeplaceforfuturereference.WhenYouenterintothePolicyYouconfirmandwarrantthatYouhavereadorwillreadthePolicydocumentswhenprovidedtoYou.AnyneworreplacementScheduleWemaysendYou,detailingchangestoYourinsuranceorthePeriodofInsurance,willbecomethecurrentSchedule,whichYoushouldcarefullyreadandretain.

Wereservetherighttochangethetermsofthisinsurancewherepermittedtodosobylaw.

Understanding Your Policy and its important terms and conditionsToproperlyunderstandthesignificantfeatures,benefitsandrisksofthisinsuranceYouneedtocarefullyread:

• abouttheavailabletypeofcoverandbenefitsandexclusionsinthePolicy,(thestandardcoverprovidedcanbeaffectedbythefollowing);

Introduction and important noticesIntroductionWelcomeandthankYouforchoosingOurCargoInsuranceWithinAustraliaPolicy.

Thisisanimportantdocument.Youshouldreaditcarefullybeforemakingadecisiontopurchasethisinsurance.ItwillhelpYouto:

• decidewhetherthisinsurancewillmeetYourneeds;and

• compareitwithotherproductsYoumaybeconsidering.

PleasenotethatanyrecommendationoropinioninthisdocumentisofageneralnatureonlyanddoesnottakeintoaccountYourobjectives,financialsituationorneeds.

YouneedtodecideifthisinsuranceisrightforYouandYoushouldreadallofthedocumentsthatmakeupthePolicytoensureYouhavethecoverYouneed.

Who is the insurer?TheinsurerisAllianzAustraliaInsuranceLimitedABN15000122850AFSLicenceNo.234708of2MarketStreet,Sydney,NSW,2000.

AllianzisoneofAustralia’slargestgeneralinsurers.Weutiliseyearsoflocalexpertise,combinedwithglobalexperiencetoofferawiderangeofproductsandservicestoOurcustomers.AsamemberoftheworldwideAllianzGroup,WearecommittedtocontinuousimprovementofOurproductsandservicesandstrivetoachievethisthroughknowledgetransferwithintheGroup,dedicatedtechnicalresearchunits,sharingnewproductdevelopmentsandawiderangeofriskmanagementservicesglobally.

InthePolicydocumentWerefertoAllianzAustraliaLimitedas“We”,“Us”,“Our”and“Allianz”.

About Allianz Marine & Transit Underwriting Agency and AllianzAllianzMarine&TransitUnderwritingAgencyPtyLimitedABN98155554279AFSRepresentativeNo.423910Level1,61LavenderStreet,MilsonsPointNSW2061isanAustralianorganisationthatspecialisesinprovidinginsuranceproductsforCargo,CommercialHullandMarineLiabilities.AllianzMarine&TransitUnderwritingAgencyhavebeengivena“binding”authoritybyAllianztoissue,varyanddisposeofthisinsuranceandsettleclaimsasagentsofAllianzasiftheywereAllianztheinsurer.


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• therestofthis“Introduction”section–thissetsouthowYouapplyforcover,thebasisonwhichWeinsureYou,thedutyofdisclosureYouneedtomeetbeforeWeinsureYou,Ourprivacyinformation,Ourdisputeresolutionproceduresandotherimportantinformation;

• the“Wordswithspecialmeaning”section–thissetsoutwhatWemeanbycertainwordsusedinthePolicy.Thesewordsbeginwithacapitalletterthroughoutthisdocument;

• the“Exclusions”setoutthegeneralexclusionsandlimitationsthatapplytothecoverandbenefits;

• the“GeneralConditions”and“ClaimsProcedure”sections–thesesetoutcertaingeneralrightsandobligationsthatYouandWehaveandothercoverrestrictions;

• allofthedocumentsthatmakeupthePolicy,includingthePolicyScheduleandanyEndorsementsorotherwrittenchangestothecoverWeissueYouwith–thesecontainspecificdetailsrelevanttoYouandcanaffectthecover.

HeadingsareprovidedforreferenceonlyanddonotformpartofYourPolicyforinterpretationpurposes.

Applying for coverWhenYouapplybycompletingOurapplicationprocessYouneedtoprovidetheinformationWerequiretodeterminewhethertoissueaPolicyandifso,onwhatterms,including(totheextenttheyareoptional):

• thecoversandbenefitsYouwant(includingthepropertyYouwishtocover);

• thelimitsYouwant;

• theperiodofcoverYouwant;

• whetherYouwantanythirdpartiestobenotedashavinganinterest;

• theExcessesthatYouagreetocontributeforcertainclaims;

• whetheranystandardtermsneedtobevaried(thismaybebywayofanEndorsement).

WhereWeagreetoissueaPolicy,coverisprovidedonthebasis:

• thatYouhavepaidoragreedtopayUsthePremiumforthecoverprovided;

• oftheverbaland/orwritteninformationprovidedbyYouwhichmusthavegiveninaccordancewithYourDutyofDisclosure.

YourDutyofDisclosureandtheconsequencesofnondisclosure,areprovidedundertheheading‘YourDutyofDisclosure’onpage4.

Renewal procedureBeforeYourPolicyexpires,WewilladviseYouwhetherWeintendtoofferrenewalandifsoonwhatterms.ThisalsoappliesforanyotherrenewalWemake,unlessWetellYouotherwise.

ItisimportantthatYoucheckthetermsofanyrenewalbeforerenewingtosatisfyYourselfthatthedetailsarecorrect.InparticularchecktheSumInsuredamountstoensurethelevelsofcoverareappropriateforYouandthatthecoversselectedsuitYourneeds,allowingforanychangesinYourbusinesssincethePolicywasoriginallytakenout.

PleasenotethatYouneedtocomplywithYourDutyofDisclosure(seepage4)beforeeachrenewal.Inparticular,YoumustinformUsregardinganychangestotheGoodsbeingshipped,maximumlimitanyoneConveyance,GeographicalLimitsorSendings/Turnover.

Contact for assistance or confirmation of coverIfYouneedtoconfirmanyPolicytransactionorclarifyanyoftheinformationcontainedinthisPolicyor,ifYouhaveanyotherqueries,pleasecontactUsviathedetailsonthebackcover.

Your Duty of DisclosureBeforeenteringintoacontractofgeneralinsurancewithUs,Youhaveaduty,undertheInsuranceContractsAct1984andtheMarineInsuranceAct1909(asapplicable)todisclosetoUseverymatterwhich:

• Youknow;or

• areasonablepersoninthecircumstancescouldbeexpectedtoknow,

isrelevanttoOurdecisionwhethertoaccepttheriskoftheinsuranceand,ifso,onwhatterms.

YouhavethesamedutytodisclosethosematterstoUsbeforeYourenew,extend,varyorreinstateacontractofgeneralinsurance.

Thisdutyofdisclosureappliesuntilthecontractisenteredinto(orrenewed,extended,variedorreinstatedasapplicable).

Yourdutyhoweverdoesnotrequiredisclosureofanymatter:

• thatdiminishestherisktobeundertakenbyUs;or

• thatisofcommonknowledge;or

• thatWeknowor,intheordinarycourseofOurbusinessasaninsurer,oughttoknow;or

• astowhichcompliancewithYourdutyiswaivedbyUs.


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Non-disclosure

Where the Insurance Contracts Act appliesWheretheInsuranceContractsActapplies,if:

• YoufailtocomplywithYourdutyofdisclosure,Wemaybeentitledtoreduceourliabilityunderthecontractinrespectofaclaim,cancelthecontractorboth;

• Yournon-disclosureisfraudulent,Wemayalsohavetheoptionofavoidingthecontractfromitsbeginning.

Where the Marine Insurance Act 1909 appliesWheretheMarineInsuranceAct1909applies,ifYoufailtocomplywithYourdutyofdisclosure,Wemayavoidthecontractfromitsbeginning.

Who must tell Us?

EveryonewhoisinsuredunderthePolicymustanswerthequestionsinthisway.

Alteration of RiskWhere the Insurance Contracts Act applies

IfYoubecomeawareofanychangestothefactsorcircumstanceswhichexistedwhenthisinsurancecommencedthatchangethenatureoftherisk(forexample,thenatureofYourbusinessoperations,orothercircumstancesthataffecttheInsuredGoodscarried)inawaythatwouldincreasetheriskoflossordamageoccurringYoumustnotifyUsimmediatelyinwriting.IfWeagreetothechangeWewilldosoinwritingandYoumustpayUsanyadditionalPremiumWerequire.

Where the Marine Insurance Act applies

YoumustgiveUsimmediatenoticeinwritingifthereisanymaterialchangeinthecircumstancesornatureoftheriskscoveredbythisPolicy,ornoclaimarisingafterthechangeshallbepayableunlessWehaveagreedtothechangeinwriting.

PremiumYourPremium–thebasePremiumWechargeiscalculatedbasedonanumberoffactorssuchas:

• typeofInsuredGoodstobeinsured,wheretheyaretobetransportedtoandfrom,theSendingsorTurnover,thecoverandSumInsuredrequired,Yourinsurancehistoryetc;

• Ourobligationtopayrelevantgovernmenttaxesandcharges.Forexample,GSTpayableinrelationtothePolicy.

MinimumPremiumsmayapply.WhenYouapplyforthisinsurance,YouwillbeadvisedofthetotalPremiumamountpayable,whenitneedstobepaidandhowitcanbepaid.

ThisamountwillbesetoutintheSchedule,whichwillbesenttoYouaftertheentryintothePolicy.IfYoufailto

paythePremiumWemayreduceanyclaimpaymentbytheamountofPremiumowingand/orcancelthePolicy.SpecialrightsandobligationsapplytoinstalmentPremiumpaymentsassetoutbelow.

Non payment of Premium by instalments – Right to refuse a claim and/or cancel Your Policy

WhereYoupayYourPremiumbyinstalments,Youmustensurethattheyarepaidontime.Ifaninstalmenthasremainedunpaidforaperiodofatleastfourteen(14)days,Wemayrefusetopayaclaim.

Ifaninstalmentremainsunpaidforatleast1month,WemaycancelthePolicy.

Instalment Premium service fee

InsomecasesaservicefeewillapplywhereYouselecttopayYourPremiumbyinstalments.WetellYouthetotalamountpayablewhenYouapplyandwhenandhowitcanbepaid.ThisisconfirmedintheScheduleWeissuetoYou.

How to make a claimIfYouneedtomakeaclaimunderthePolicy,pleaserefertothe“Claimsprocedure”sectiononpage22.

Cancellation(a) YoumaycancelthePolicyatanytimebynotifyingUs

inwriting;

(b)WehavetherighttocancelthePolicywherepermittedbylaw.

Where the Insurance Contracts Act applies WheretheInsuranceContractsAct1984appliesWe

cancancelthePolicyinaccordancewiththatAct,includingwhere:

• ifYoufailedtocomplywiththedutyoftheutmostgoodfaith;

• ifYoufailedtocomplywithYourDutyofDisclosure;

• whereYouhavemadeamisrepresentationtoUsduringnegotiationspriortotheissueofthePolicy;

• whereYouhavefailedtocomplywithaprovisionofthePolicy,includingpaymentofPremium;or

• whereYouhavemadeafraudulentclaimunderYourPolicyorundersomeothercontractofinsurancethatprovidescoverduringthesameperiodoftimethatOurPolicycoversYou.

Where the Marine Insurance Act applies

WheretheMarineInsuranceAct1909applies,WemaycancelthePolicyintheeventofanynon-paymentofthePremiumorforanyotherreasonavailableatlaw.

Marine RisksSubjectto30daysnoticeofcancellation.


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War Risks Subjectto7daysnoticeofcancellation.

Strikes Riots and Civil Commotions Risks Subjectto7daysnoticeinwriting,exceptfor

consignmentstoand/orfromtheUnitedStatesofAmericawhichissubjectto48hoursnoticeinwriting.

(c) IfWedecidetocancelYourPolicyWewillgivewrittennoticetoYoupersonallyorbyposttoYourlastknownaddressor,Yourintermediaryasmaybeappropriate.SuchnoticewillbeeffectivefromtheexpiryofthestipulatedperiodcalculatedfrommidnightofthedayonwhichnoticeofthecancellationisissuedbyortoUsbutshallnotapplytoanyGoodswhichhavecommencedTransitinaccordancewiththeconditionsofthisPolicybeforecancellationbecomeseffective.ApostednoticeisdeemedgiventoYouatthetimeitwouldhavebeendeliveredinthenormalcourseofthepostalservice.

(d) IntheeventthatYouorUscancellingthePolicy,WemayelecttoapplytheminimumPremiumprovisionsetoutintheDeclarationOfActualTurnoverClauseordeductaprorataproportionofthePremiumfortimeonrisk,reasonableadministrativecostsrelatedtotheacquisitionandterminationofYourPolicyandanygovernmenttaxesordutiesWecannotrecover.IntheeventthatYouhavemadeaclaimunderthePolicyandWehaveagreedtopaythefullSumInsured,noreturnofPremiumwillbemadeforanyunusedportionofthePremium.

(e) IfthePremiumhasbeenfundedbyaPremiumfundingcompanywhichholdsalegalrightoverthePolicybyvirtueofanoticeofassignmentand/orirrevocablepowerofattorney,arefundwillbemadetothePremiumfundingcompanyinaccordancewiththeprovisionssetoutabove.

Privacy noticeAtAllianz,WegiveprioritytoprotectingtheprivacyofYourpersonalinformation.WedothisbyhandlingpersonalinformationinaresponsiblemannerandinaccordancewiththePrivacy Act 1988 (Cth).

How We collect Your personal information

WeusuallycollectYourpersonalinformationfromYouorYouragents.WemayalsocollectitfromOuragentsandserviceproviders;otherinsurersandinsurancereferencebureaus;peoplewhoareinvolvedinaclaimorassistUsininvestigatingorprocessingclaims,includingthirdpartiesclaimingunderYourPolicy,witnessesandmedicalpractitioners;thirdpartieswhomaybearranginginsurancecoverforagroupthatYouareapartof;lawenforcement,disputeresolution,statutoryandregulatorybodies;marketinglistsandindustrydatabases;andpubliclyavailablesources.

Why We collect Your personal information

WecollectYourpersonalinformationtoenableUstoprovideOurproductsandservices,includingtoprocessandsettleclaims;offerOurproductsandservicesandthoseofOurrelatedcompanies,brokers,intermediariesandbusinesspartnersthatmayinterestYou;andconductmarketorcustomerresearchtodeterminethoseproductsorservicesthatmaysuitYou.YoucanchoosenottoreceiveproductorserviceofferingsfromUs(includingproductorserviceofferingsfromUsonbehalfofOurbrokers,intermediariesand/orOurbusinesspartners)orOurrelatedcompaniesbycallingtheAllianzDirectMarketingPrivacyServiceLineon1300360529,EST8am-6pmMondaytoFriday,orgoingtoourwebsite’sPrivacysectionatwww.allianz.com.au.

Who We disclose Your personal information to

WemaydiscloseYourpersonalinformationtootherswithwhomWehavebusinessarrangementsforthepurposeslistedintheparagraphaboveortoenablethemtooffertheirproductsandservicestoYou.Thesepartiesmayincludeinsurers,intermediaries,reinsurers,insurancereferencebureaus,relatedcompanies,ouradvisers,personsinvolvedinclaims,externalclaimsdatacollectorsandverifiers,partiesthatWehaveaninsuranceschemeinplacewithunderwhichyoupurchasedyourpolicy(suchasafinancierormotorvehiclemanufacturerand/ordealer).Disclosuremayalsobemadetogovernment,lawenforcement,disputeresolution,statutoryorregulatorybodies,orasrequiredbylaw.

Disclosure overseas

YourpersonalinformationmaybedisclosedtoothercompaniesintheAllianzGroup,businesspartners,reinsurersandserviceprovidersthatmaybelocatedinAustraliaoroverseas.Thecountriesthisinformationmaybedisclosedtowillvaryfromtimetotime,butmayincludeCanada,Germany,NewZealand,UnitedKingdom,UnitedStatesofAmericaandothercountrieswheretheAllianzGrouphasapresenceorengagessubcontractors.WeregularlyreviewthesecurityofOursystemsusedforsendingpersonalinformationoverseas.Anyinformationdisclosedmayonlybeusedforthepurposesofcollectiondetailedaboveandsystemadministration.

Access to Your personal information and complaints

YoumayaskforaccesstothepersonalinformationWeholdaboutYouandseekcorrectionbycalling1300360529EST8am–6pm,MondaytoFriday.OurPrivacyPolicycontainsdetailsabouthowYoumaymakeacomplaintaboutabreachoftheprivacyprinciplescontainedinthePrivacy Act 1988 (Cth)andhowWedealwithcomplaints.OurPrivacyPolicyisavailableatwww.allianz.com.au.


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Telephone call recording

Wemayrecordincomingand/oroutgoingtelephonecallsfortrainingorverificationpurposes.WhereWehaverecordedatelephonecall,WecanprovideYouwithacopyatYourrequest,whereitisreasonabletodoso.

General Insurance Code of PracticeTheGeneralInsuranceCodeofPracticewasdevelopedbytheInsuranceCouncilofAustraliatofurtherraisestandardsofpracticeandserviceacrosstheinsuranceindustry.WekeenlysupportthestandardssetoutintheCode.YoucanobtainmoreinformationontheCodeofPracticeandhowitassistsYoubycontactingUs.Contactdetailsareprovidedonthebackcoverofthisdocument.

Dispute resolution process – helping You solve any problemsWestrivetodothingstherightwayandkeepOurcustomershappy.

Sometimes,complaintsordisputesdooccurandwhenthishappens,Ourobjectiveistoresolveanydisagreementasamicablyandasquicklyaspossible.WebelievethebestwaytoachievethisistoprovideYouwithanopportunityforanunbiasedreviewoftheissue.

Here is what to do if a complaint or dispute arises

RegardlessofwhetherthecomplaintordisputeinvolvesOurstaff,anagent,lossadjuster,assessor,investigatorortheserviceWeprovide,simplycontactUson132664EST8am-6pm,MondaytoFriday,speaktooneofOuroperatorsandprovidethemwiththedetailsoftheissueconcerningYou.Theywillattempttoresolvethecomplaintordispute;iftheyareunabletodosotheywilllogitandreferittotheappropriatebusinessunitforresolution.

WithinOurorganisationWehaveestablishedacomplaintsanddisputesresolutionprocess.Thisisafreeservice.Itisasystemdesignedtolog,track,escalateandmonitorcomplaintsreceivedfromclientsandcustomersaboutOurservicesandproducts.AstaffmemberinvolvedinthecomplaintsanddisputesresolutionprocesswillwritetoYouwithin15workingdaysadvisingtheoutcomeofthereviewandreasonsfortheirdecision.WedonotconsideracomplaintordisputetoberesolveduntilaproposedresolutionorsolutionhasbeencommunicatedtoYouandYouhaveacceptedtheresolutionorsolution.

If You are not satisfied with the outcome of this process

IfWeareunabletoresolvethecomplaintordispute,Youmaybeabletoreferthemattertotheinsuranceindustry’sexternalindependentcomplaintsscheme(subjecttoeligibility).

If this insurance has been issued through an insurance intermediaryIfYourPolicyhasbeenissuedthroughOuragent,orabrokerwhoisactingunderanagencyarrangementsuchasabinderwithUs,thentheyareactingasOuragentandnotasYouragent.

IfYourPolicyhasbeenissuedbyabroker,otherthanabrokeractingundersuchanagencyarrangementwithUs,thenthebrokerisactingasYouragent.

WherethisPolicyhasbeenarrangedthroughanintermediaryacommissionispayablebyUstothemforarrangingtheinsurance.


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Words with special meaningAccident or Accidental meansaneventoroccurrencewhichresultsinlossordamagetotheGoodsthatYoudidnotintendorexpecttohappenorcouldnotreasonablyhavebeenexpectedbyapersonwithactualknowledgeoftheGoodsandmethodoftransport.

Average or Coinsurancemeans,ifthevalueoftheInsuredGoodsinsuredunderthisPolicyshallatthetimeoflossordamagebeofgreatervaluethantheSumInsuredspecifiedintheSchedule,WeshallonlypayYoutheproportionalamountthatthetotalvalueofthelossbearstotheSumInsuredspecifiedintheSchedule.

Basis of ValuationmeanstheagreedformulathatWewillusetocalculatehowmuchWewillpayYouintheeventoflossordamage.ThisisasstatedinthisPolicyonpages12and13,unlessotherwiseagreedandspecifiedinthePolicySchedule.

Conditions of Cover meansthecoverWeareprovidingunderthisPolicyasspecifiedintheSchedule.

Constructive Total Lossmeanseither:

a) theactualtotallossoftheGoodsappearstobeunavoidableor,

b) topreventtheGoodsfrombeingatotallosswouldcostmorethantheirvaluewhenpreserved.

Conveying Vehicle, Conveyancemeansanyship,vessel,aircraft,registeredpostalservice(orequivalent),railandroadtransportusedtotransporttheInsuredGoods,includingYourownvehicleswhereapplicable.

Deliberate Third Party ActThisincludes:

• deliberatedamagebyFederal,StateorLocalauthoritiesexercisingtheirrightsundercurrentlegislationinordertopreventorminimiseanenvironmentalhazard/pollutionresultingfromanInsuredEventandprovidedthishasnotresultedfromYourlackofduediligence;

• thedeliberateactofanypartyotherthanYouwhichwascommittedwithoutYourknowledgeorconnivance.

Due CaremeanstheexercisingbyYouofappropriatelevelsofprudenceandcautionin:

• theselectionof,andprovisionofhandlinginstructionsto,thirdpartytransportserviceproviders;

• theselectionofpackagingappropriatetoprotecttheGoods;

• thehandling,storageandmovementofGoodsbyYouincluding:

(i) securitymeasurestoprotecttheGoodsagainsttheftwhereappropriatebasedonthenatureoftheGoodswhilsteitherinYourConveyingVehicleorwhilsttemporarilyremovedfromtheConveyingVehicle;

(ii) themaintenanceofYourConveyingVehicles(includingrefrigerationmachineryandsecuritydevices)inproperrepairandsoundworkingconditions;

(iii) theemploymentofcompetentdriversandotheremployeesinvolvedintransportorhandlingofGoods;and

(iv) thecompliancewithallstatutoryobligations,by-laws,regulationsandstandardsimposedbypublicauthorities.

EndorsementmeansdocumentaryevidenceofanalterationtothisPolicyortheSchedulewhichformspartofthePolicy.

Excess meanstheamountpayablebyYouforeachandeverylossrecoverableunderthisPolicy,theSchedule,oranyEndorsementtothisPolicy.WhereanExcessisexpressedasaspecifiedsumitmeanstheamountspecified.WheretheExcessisexpressedasapercentageitmeansthemonetaryequivalentofsuchpercentageofeachloss.Whereaclaimismadeinrespectofmorethanoneoccurrence,theExcesswillapplyasthoughaclaimwasmadeforeachseparateoccurrence.

Floodmeansthecoveringofnormallydrylandbywaterthathasescapedorbeenreleasedfromthenormalconfinesofanyofthefollowing:

• alake(whetherornotithasbeenalteredormodified);

• ariver(whetherornotithasbeenalteredormodified);

• acreek(whetherornotithasbeenalteredormodified);

• anothernaturalwatercourse(whetherornotithasbeenalteredormodified);

• areservoir;

• acanal;

• adam.

General Averagemeansthemaritimelegalprinciplebywhich,shouldtheshipowner,oneormorecargoowners,orotherpartieswithaninterestinpropertyonboardaseagoingvessel,makeanextraordinarysacrificeorexpenditureforthepurposesofpreservingallpropertyatriskatatimeofperil,allpartieswithpropertythathasbeenpreservedbysuchsacrificeorexpenditurecanbecalledupontocontributeaproportionoflossincurred.

Geographical Limit(s)meansthegeographicalareaofoperationspecifiedintheSchedule,butalwayslimitedtotransitsstartingandterminatingwithinAustraliaincluding,whereapplicable,seavoyageswithinAustralianTerritorialwatersbetweenAustralianportsorplaces.

Insurable InterestmeansthatYouhavealegalorequitableinterestintheInsuredGoodsinconsequenceofwhichYoumaybenefitbytheirsafetyandbeprejudicedbytheirloss.


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Livestockmeanssheep,cattle,goatsandpigsand/orotherherdanimalsasidentifiedinthePolicy,butexcludinghorses,birdsorotheranimals.

Period of Insurancemeanstheperiodcommencingontheeffectivedateandendingat4pmintheStateorTerritoryofAustraliainwhichthePolicyisissuedandendingontheexpirydateasshownintheSchedule.

Personal Propertymeansbedding,CB/UHFandscannerradios,foodanddrinkanditscontainers(includingthermos-flasks,eskiesandmobilefridge),clothingandpersonalaccessoriesandhygieneitems,footwearandpersonalentertainmentequipment(e.g.DVD/CDplayers,iPodsorMP3players).

PersonalPropertyexcludes:moneyoranynegotiabledocuments/documentsthatrepresentmoney,creditcards,watchesandjewellery,mobilephones,pagers,laptopcomputersorPDAs/tablets,mobileGPRSunits,preciousmetalsorstones.

Policy meansthisdocumenttheScheduleandanyotherdocumentsthatpartiesagreeinwritingwillformpartofthePolicy(e.g.anEndorsement).

Premium meansthePremiumspecifiedinthecurrentSchedule,anyEndorsementPremiumandanyadjustmentinaccordancewithGeneralConditions–DeclarationsofActualTurnoverplusanyapplicableGovernmentcharges.

Proposal meanstheapplicationformcompletedbyYouorthequotationslipsubmittedonYourbehalfinwhichYouprovidedtheinformationuponwhichWereliedtoenterintothePolicy.

Salvage Hastwomeaningssubjecttocontext,beingeither:

• whatisleftoftheGoodsorPropertyafterithassufferedlossordamage;or

• thephysicalactofrecoveringGoodsorPropertywhichhasbeenlostordamaged,butwhichhasresidualcommercialvalue.

Schedule meanstherelevantScheduleWehaveprovidedtoYouwhichspecifiesimportantinformationsuchasthePolicynumber,GeographicalLimits,thedetailsoftheInsuredGoods,theSumsInsuredandanyExcesspayable.

SendingsmeansthegrossvalueofInsuredGoodsreceived,consigned,transferredorotherwisemovedduringthePeriodofInsurance.

Sum Insured meanstheamountstowhichOurliabilityislimitedbeingtheamountsstatedinthisPolicyorthePolicyScheduleforanyonelossorseriesoflossesarisingoutofthesameevent.

Terrorism meansanyact(s)ofanyperson(s)ororganisation(s)involving:

• thecausing,occasioningorthreateningofharmofwhatevernatureandbywhatevermeans;

• puttingthepublicoranysectionofthepublicinfear;

Insured,YouorYourmeansanypartyspecifiedinthePolicySchedule.

WhereYouarecomprisedofmorethanoneentity,theterm“You”willbeconsideredasapplyingtoeachentityinthesamemannerasthoughaseparatePolicyhadbeenissuedtoeachentity,however,OurlimitofliabilityshallnotexceedtheSumInsuredspecifiedintheScheduleandOurliabilitytomakesupplementarypaymentswillapplyasthoughtherewerenotseparatepoliciesissuedtoeachentity.

Insured Eventsmeansaneventshownundertheheading“InsuredEvents”andforwhichcoverisavailableunderthePolicy.

Insured GoodsorGoodsmeansthegoodsspecifiedintheSchedulewhichYouownorwhichYouhavecontractuallyacceptedresponsibilitytoinsureandincludes:

• allretailandsalespackaging;

• Yourstocktransfers;

• anyreturnGoods,inwardsoroutwards,whereYouhavetheresponsibilitytoinsuretheGoodsintransit,orhaveassumedthatresponsibilitypriortoanylossordamagetotheGoodsbeingreportedtoYou;shippingcontainers;

• TravellersSamplesandToolsofTrade(subjecttoanylimitsexpressedforthesecategoriesofGoodsinthisPolicyortheSchedule).

ThefollowingarenotcoveredunlessYouhavedeclaredthemtoUsandtheyareshownontheSchedule:

• Bloodstockorstudorprizeanimals;

• Liveplantsandtrees;

• Worksofartorantiques;

• Cigarettes,tobacco/tobaccoproducts;

• DangerousGoodsasdefinedbythecurrentAustralianDangerousGoodsCodeoranygovernmentagencyorauthoritywhichbytheirnaturerequirespeciallicencingofthedriverorvehicleand/oraredefinedasa“PlacardLoad”.Thisexclusiondoesnotapplytosmallconsignments,limitedquantitiesorretaildistributionloadsofdangerousGoodswhereconcessionisprovidedunderthecurrentAustralianDangerousGoodsCode;

• Preciousmetalsandstones,orjewellery;

• Homecontentsandpersonaleffects(domesticremovals);

• Money(whichmeansanycoinorbanknote),bullion,cheques,creditorothercardsalesvouchers,securitiesorshares,bonds,deeds,billsofexchangeoranydocumentthatrepresentsorisexchangeableformoney;

• RadioactiveGoodsorexplosiveGoods.


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incircumstancesinwhichitisreasonabletoconcludethatthepurpose(s)oftheperson(s)ororganisation(s)concernedarewhollyorpartlyofapolitical,religious,ideologicalorsimilarnature.

Terrorismshallalsoincludestepstakentoprevent,suppress,controlorreducetheconsequencesofanyactual,attempted,anticipated,threatened,suspectedorperceivedterrorism.

Tools of TradeToolswhichenableYouorYouremployeestocarryoutYournormalbusinessoperation,butexcluding:mobilephones,pagers,laptops/notebooks/handheldorotherpersonalcomputers,PersonalProperty,cashandcreditcards.

Transit meansthevoyagesspecifiedintheCoversectionofthisdocumentthatoccurwithintheGeographicalLimitssetoutintheSchedule.

Traveller’s Samples Portions,piecesorsamplesofYourGoodscarriedbyYoursalesemployeesforthepurposeofdemonstrationtoprospectivecustomers.

Turnover meansthegrossrevenueofYourbusinessduringthePeriodofInsurance.

We, Us or Our, Insurer, Underwriter meanstheInsurerAllianzAustraliaInsuranceLimitedABN15000122850(Allianz)AFSLicenceNo.234708of2MarketStreet,Sydney,NSW,2000(theinsurerofYourPolicy),throughitsagentAllianzMarine&TransitUnderwritingAgencyPtyLimited.

Warranty(ies) meansYouwillundertakethatsomeparticularthingshallorshallnotbedoneorthatsomeconditionsshallbefulfilledorthatYouaffirmornegativetheexistenceofaparticularstateoffacts.TheWarrantymaybeexpressorimplied.

CoverScope of CoverThisPolicyinsuresYouforlossofordamagetoYourInsuredGoodswhilstinTransitwithinAustraliacausedbyanInsuredEventoccurringduringTransitandduringthePeriodofInsurance.

The TransitGoods other than Livestock and motor vehicles

EachinsuredTransitcommenceswhentheInsuredGoodsarefirstmovedinsidethewarehouse/premisesorotherplaceofstorageforthespecificpurposeofloadingontotheConveyingVehiclefortransporttoadestinationoutsidethepremisesatwhichloadingtakesplace,continuesduringtheordinarycourseofTransitandterminateswhen:

• theInsuredGoodsarelastmovedwhenbeingdeliveredtotheintendeddestinationorsuchotherplaceasYoumayinstruct;or

• ThenormalcourseoftransportisinterruptedatYour(ortheseller/purchaser’s)electionforthepurposesofstorage,allocationordistribution.

TheinsuredTransitincludesanyTransittoorfromandwhiletheInsuredGoodsareatanypremisesforthepurposeofpackingorpreparationforshipmentforaperiodofuptoonemonthpriortoshipment.

TheinsuredTransitexcludesanyperiodofdismantling,erection,commissioningorinstallationpriortoorpostTransitasdefinedabove,unlessotherwiseagreedbyUsandspecifiedinthePolicySchedule.

Livestock

TheinsuredTransitcommencesforeachanimalwhenitenterstheConveyingVehicleoritsloadingramp,continuesduringtheordinarycourseofTransitandterminatesforeachanimalwhenitexitstheConveyanceoritsloadingrampattheintendeddestinationorsuchotherplaceasYoumayinstruct.

Motor vehicles

TheinsuredTransitcommenceswhenthewheelsortracksofeachMotorvehicle(s)beingtransportedasGoodsfirstmoveforthepurposesofbeingdrivenontotheloadingrampsoftheConveyingVehiclefromthegroundorloadingdockadjacenttotheConveyingVehicleorfromthepointwherethevehicleiscurrentlyparkedprovidedthatthedistancedriventotheConveyingvehicledoesnotexceed200metres.CoverterminateswhenthewheelsortracksofeachMotorvehicle(s)beingtransportedasGoodsaredrivenofftheConveyanceandareontheroadorloadingdockimmediatelyadjacenttotheConveyance,orareparkedinthepremisesorintheloadingdock,providedthisiswithin200metresofYourConveyingVehicleand


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WheretheGoodsaretransportedbysea,Wewillalsocover(uptotheSumInsuredspecifiedintheSchedule):

• anyGeneralAverageand/orSalvagecontributionYouarerequiredtopay;

• therisksofjettison,washingoverboardandlossordamagecausedbyaGeneralAveragesacrifice.

Refrigerated, temperature controlled, chilled, or perishable GoodsLossofordamagetotheInsuredGoods(orVehicles)causedby:

• anyAccident;

• insufficiencyofpackagingorpreparationoftheInsuredGoodswhich:

(i) wascarriedoutbyapartyotherthanYouandoccurredentirelywithoutYourprivityorknowledge;or

(ii) wascarriedoutbyYoubutYoucandemonstratethattherewasnolackofDueCareonYourpartandYouwereunawarethatthepackagingwasinsufficientinnature;

• DeliberateThirdPartyActs;

butexcludingdeteriorationofGoodsduetovariationintemperature,exceptwherethisresultsfromvariationintemperaturebeloworabovethedocumentedrequiredrangefortransportationoftheGoodsforaperiodinexcessof4hoursorthatstatedintheSchedule,wheredifferent,causedby:

• Accidentalfailure,breakdown,stoppageormalfunctionoftherefrigeratingmachinerywhichresultsin:

(i) itsfailuretodeliverairatthepresettemperature;or

(ii) itbeingunabletoperformitsnormalrefrigerationcycle;

• Mismanagementoftherefrigeratingmachinerybythetransportoperator/carrier,includingselectionofincorrecttemperatureorfailuretoturnonpower;or

• Disruptionoftheairflowwithinthecarryingvehiclesorcontainercausedbymismanagementoftheinteriorbulkheadsbythetransportoperator/carrier.

WheretheRefrigeratedGoodsaretransportedbysea,Wewillalsocover(uptotheSumInsuredspecifiedintheSchedule):



thevehicleisdrivenfromtheConveyingVehicleintotheloadingdockorpremisesimmediatelyaspartoftheunloadingprocess.

Additional Transit Provisions (all Goods)

ThefollowingprovisionsapplytoalltypesofGoodsprovidedthattheGoodsremainwithintheGeographicalLimitsexpressedinthePolicySchedule:

• Incidental Storage: TransitcontinuesduringstorageincidentaltoTransitwhichhasnotbeenrequestedbyYouorthepurchaser/selleroftheGoods,butisnecessarysolelyforthepurposesofnormaltranshipment,handling,agistment(ofLivestock)orloadconsolidation/deconsolidation.InthecaseofLivestockduringlonghaulmovements,Transitcontinuesforupto7daysduringnecessarytemporaryresting/spelling.

• Reconsigned/Reshipped Goods: TransitisdeemedtocontinuewheretheGoodsarereconsignedorreshippeddirectfromawharforairportattheintendeddestinationtoanotherdestinationwithintheGeographicallimitsspecifiedinthePolicySchedule,untilarrivalatthefinaldestination.

• Shut Out Clause:TheTransitisdeemedtoincludeperiodswhentheInsuredGoodsare“shutout”awaitingtransfertoanotherConveyanceafterTransithascommencedwherethisisoutsideYourcontrol.

• Overcarried Clause: TheTransitcontinuesintheeventthatGoodsare“overcarried”untiltheirdeliverytotheintendeddestination.

Insured EventsSubjecttotheterms,conditionsandexclusionsofthePolicy,thisinsurancecoversuptotheSumInsuredlossofordamagetotheInsuredGoodswhilstinTransitduringthePeriodofInsurancecausedbyeitherOptionAorOptionBasselectedbyYouandasspecifiedintheSchedule.

Option A – Accidental Damage

General Goods/motor vehiclesLossofordamagetotheInsuredGoods(orVehicles)causedby:

• anyAccident;

• insufficiencyofpackagingorpreparationoftheInsuredGoods(whereapplicable)which:

(i) wascarriedoutbyapartyotherthanYouandoccurredentirelywithoutYourprivityorknowledge;or

(ii) wherecarriedoutbyYoubutYoucandemonstratethattherewasnolackofDueCareonYourpartandYouwereunawarethatthepackagingwasinsufficientinnature;

• DeliberateThirdPartyActs.


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IntheeventthatYoutransportYourowntemperaturecontrolledGoods,WewillnotcoverYouwherethelossiscausedbyYourerror/omissionorwhereYoudonotproperlymaintainYourrefrigerationmachinery.IfrequiredbyUsYouwillneedtoprovideevidencethattherefrigerationmachineryhasbeenproperlymaintained.

LivestockIftheInsuredGoodsareLivestockWewillcoverYouforAccidentalloss,orDeliberateThirdPartyActwhichresultsin:

• injury,deathordestruction;or

• wanderingoffoftheLivestockwheretheLivestockareunabletobemusteredorrecovered.

WheretheLivestockaretransportedbysea,Wewillalsocover(uptotheSumInsuredspecifiedintheSchedule):


• dischargeataportofdistress;


CoverincludesslaughterforhumanereasonswherenecessaryduetoanInsuredEvent.

Option B – Specified Perils

LossofordamagetotheInsuredGoodscausedby:

• fire,Flood,lightning,hail,windstorm,tornadoorcyclone,orexplosion;

• collisionoftheConveyingVehiclewithanyexternalobjectotherthantheroad,gutter,curborunevenroadsurface;

• collapseofbridgesorculverts;

• impactoftheInsuredGoodswithsomethingnotonorpartoftheConveyingVehicleotherthantheroadorground;

• jack-knifing,overturningorderailmentoftheConveyingVehicle;

• sinking,capsizingorstrandingofanyvesselcarryingtheInsuredGoods;

• crashingorforcedlandingofanyaircraft(includinganaircraftusedtotransporttheGoods);

• theftofInsuredGoodsfromtheConveyingVehiclefollowingforcibleandviolententry,pilferageornon-delivery;

• DeliberateThirdPartyAct;

• strikers,lockedoutworkersorpersonstakingpartinlabourdisturbances,riotsorcivilcommotions.

IftheTransitisbyseaorair,thisPolicyfurthercoverslossordamagetotheGoods,causedbyWarorWarlikeActivitieswhilsttheGoodsareonboardtheConveyance.

Iftransportedbysea,theInsuredEventsspecifiedaboveareextendedtoinclude:

• stranding,sinking,burning,groundingorcollisionofthevesselwithanyobjectotherthanwater;

• dischargeataportofdistress;


• risksofjettison,washingoverboardandlossordamagecausedbyaGeneralAveragesacrifice.

Fortemperaturecontrolled,chilled,perishableorrefrigeratedGoods,coverisextendedtoincludedeteriorationofsuchGoodsfollowingaInsuredEvent/Peril.

ForLivestock,deathordestructioncausedbyaInsuredEvent/PerilarecoveredbythePolicy.WewillalsopayforslaughterofLivestockforhumanereasonswherenecessaryduetoanInsuredEvent.

How much We will payClaimsunderthisPolicyaresubjecttotheapplicationofAverageorCoinsuranceunlessspecificallynotedotherwise.

ProvidedYouhaveanInsurableInterestintheGoodsandsubjecttotheConditionsOfCover,exclusions,anyWarranty(ies)containedintheScheduleandtheSumInsuredofthisPolicy,WewillpayclaimsinaccordancewiththeBasisofValuationshownintheSchedule.

AtOuroptionWewillpayYou,repairersorotherparties:

• theinvoicevaluecoveringtheGoods;or

• ifthereisnoinvoicevalue,atOuroptioneither:

(i) thecostofreplacingtheInsuredGoodswithsimilarInsuredGoodsofthesameageandconditionorasnearaspossibletothatageandcondition;or

(ii) theactualmarketvalueoftheGoods.

• FordamagedGoods:thecostofrepairingorreinstatingtheInsuredGoodstoaconditionequaltobutnobetterormoreextensivethanitsconditionimmediatelypriortothelossordamage(includingthereasonablecostofanynecessaryovertime).However,undernocircumstancesdoWecoverYouforanyreductioninthevalueofGoodsbecauseofrepairs.

IntheeventofclaimunderthePolicywhereYouareauthorisedbyUstocarryoutrepairstotheInsuredGoods,itisagreedthatsuchrepaircostsshallbebasedonYournormalcommercialratewhichincludesYournormalelementofprofit.


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• Pairs and Sets Clause:Intheeventoflossofordamagetoanarticleformingpartofapairorsetnoregardshallbemadetothevaluesucharticle(s)mayhavetothepairorsetandtheamountrecoverableunderthisPolicyshallbecalculatedasaproportionatepartoftheinsuredvalueofthepairorset.

• General Average/Salvage charges: WewillpayGeneralAverageandSalvagechargesinfullirrespectiveoftheamountinsuredbeinglessthanthecontributoryvalue.Provided,however,thatallInsuredGoodsshallbeinsuredfornotlessthanamountscalculatedontherespectiveBasisofValuationasnominatedintheSchedule.

Thefollowingexceptionsapplytotheaboveprovisions:

• Livestock:thenetinvoicevaluecoveringtheLivestockwhilstinTransit,or,ifthereisnoinvoicevalue,thecostofreplacingtheLivestockwithsimilarLivestockofthesameage,breedandconditionorascloseaspossibletotheage,breedandconditionoftheoriginalLivestock,notexceedingthelimitofliabilityexpressedintheSchedule.

• WheretheGoodscarriedareartwork,paintings,pictures,statues or antiques,thereasonablecostofrepairsuptotheSumInsuredoftheparticularitemexcludinganydepreciationconsequentonthis.ThemarketvalueoftheGoodswillbeassessedwithreferencetoanindependentandqualifiedvaluer.

• Fornew machinery,thecostofreplacementorrepairofthepartorpartsplusanyadditionalchargesforforwardingandrefitting.

• Forused machinery,intheeventofaTotalorConstructiveTotalLoss:

• Forsales/purchases:thepurchaseorsaleprice(invoiceprice)plusfreightandincidentaltransportcharges;

• Forstocktransfersandothermovementsnotinvolvingasale/purchasetoevidencethevalueofthemachine:

• whereasecondhandmarketforthegoodsexists:marketvalueatthetimeofthelossplusfreightandincidentaltransportcharges;

• forspecialisedmachinerywherethereisnosecondhandmarket:thewrittendownassetvalueasevidencedbytheclaimant’saccountingrecords,orthenewreplacementvaluebasedontheclosestavailableequivalentmachineofsimilartechnicalspecificationslessagreeddepreciationbasedontheageandconditionoftheinsuredmachineryatthetimeoftheloss,plusfreightandincidentaltransportcharges.

Theamountpayableintheeventofapartiallosswillnotexceedthecostofrepairingandreinstatingtheitemtoaconditionequaltobutnotbetterormoreextensivethanitspre-losscondition,andinanyeventnotexceedingtheabove.

• Packaging/shipping containers: thecostofrepairorreplacement(asrequiredbythehandoveragreementorsimilardocument)butnotexceedingtheinsuredsub-limitexpressedinthisPolicyorthePolicySchedulewheredifferent.

• Intheeventoflossaffectinglabels only,theamountrecoverableislimitedtothecostofnewlabels,reconditioningandrelabellingtheGoods.


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Additional benefitsAccumulationIntheeventoftheaccumulationofGoodsinexcessoftheSumInsuredarisingfromcircumstancesbeyondYourcontrol,andprovidingYougiveUsimmediatenoticeassoonasthecircumstancesbecomeknowntoYou,WewillprovidecoverfortheaccumulatedGoodsuptodoubletheSumInsuredspecifiedintheScheduleeachandeverylossoroccurrenceorseriesoflossesoroccurrencesarisingoutofthesameevent.

Acquired companiesWewillprovidecoverunderthisPolicyforanycompany,subsidiarycompanyorfirmthatisformed,purchasedorotherwiseacquiredbyYouduringthePeriodofInsurance,providedalwaysthatYou:

• holdacontrollinginterestinthecompany,subsidiarycompanyorfirmorhaveagreedtoacceptresponsibilityforinsuranceofsuchcompany,subsidiarycompanyorfirm;

• adviseUsofYourinterestinthecompany,subsidiarycompanyorfirmwithinsixty(60)daysfromthedateofsigningoftheinstrumentbywhichYouacquiredsuchcompany,subsidiarycompanyorfirm,orfromthedateofformationofsuchcompany,subsidiarycompanyorfirm,whicheverthecasemaybe;and

• declaretoUstheSendingsorTurnover,typeofInsuredGoodstobeinsured,pastlossesandthenagreetoanyadditionalconditionsrequiredbyUsandpayanyadditionalPremiumsrequiredbyUstobepaid.

Automatic reinstatementWhenWepayaclaimunderthisPolicy,theSumInsuredwillbeautomaticallyreinstatedwithoutanadditionalPremiumbeingpayable.

Brands ClauseWewillnotsellordisposeofSalvagedGoodswhich:

• bearpermanentmarkingsidentifyingYouasthemanufacturer;or

• havebeenmanufacturedusingexclusiveand/orsecretformulas;

withoutYourconsent.

WhereYoudonotgiveYourconsent,YoumayretaintheGoodsprovidedthatareasonableallowanceforSalvageisagreedanddeductedfromtheclaimsettlement.

Ifamutualallowancecannotbeagreedon,thevalueoftheGoodsdamagedshallbeestablishedbyallowingtheGoodstobeplacedforsaleatapublicauctionwhereYouhavetherighttoacceptorrefusethehighestbidoffered.

Buyers/sellers contingency coverWewillcoverYouforGoodsinwhichYouasabuyerorsellerretainacontingentfinancialinterest,totheextentthat:

• theGoodsarelostordamaged,andthelossordamagewouldbecoveredunderthisPolicy;

• theotherpartyunderthetermsofsaleislegallyliabletopayYoufortheGoodsorforthelossordamage,butfailstodoso;and

• YouhavetakenallreasonablestepstosafeguardtheGoodsandtorecoverpaymentfromtheotherparty.

ItisaconditionofthisadditionalbenefitthattheexistenceofthiscoverisnotdisclosedtoanyotherpartyinterestedintheGoods.

WhenWepayforsuchlostordamagedGoods,YouauthoriseUstoactinYournameinanyrecoveryactionWemaytakeagainsttheotherpartyandYouundertaketogiveUsreasonableassistanceinthataction.

Container demurrage chargesWewillcoverdemurragechargesand/orlatepenaltiesassessedagainstYouuptoamaximumof$50,000inadditiontotheSumInsuredwheretheseareincurredduetothecontainer(s)beingretainedbyYouonOurinstructionforthepurposesofinspectionfollowingaclaim.ThedemurrageperiodforwhichWewillbeliablebeginsatthetimeWeinstructYoutoretainthecontainersandfinishesatthetimeOursurveyorinstructsYoutoreturnthecontainers.

Debris removal/clean up costsWhereWehaveacceptedliabilityforlossordamagetoGoods,Wewillalsopayupto$100,000anyonelossorseriesoflossescausedbytheoneeventinadditiontotheSumInsuredshownintheScheduleorasspecifiedinthePolicySchedule,wheredifferent,for:

• thecostofremovaland/ordisposalofthedamaged,deterioratedorcontaminatedGoods;plus

• thecostofcleaninguptheaccidentsite,premises,locationorConveyance;

provided:

• thesecostsrelatetotheInsuredGoods;

• Youarelegallyorcontractuallyobligedtopaythosecosts;and

• suchcostsarenotrecoverableunderanyotherPolicyofinsurance.


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uptoalimitof$25,000anyonelossorseriesoflossescausedbytheoneeventinadditiontothelimitofliabilityshownintheScheduleorasspecifiedinthePolicySchedule,wheredifferent.

Wewillalsocoveranylossordamagetotheinterestinsuredproximatelycausedduringtheprocessofdecontaminationorfumigationincludingfireresultingfromtheapplicationofheatduringtheseprocesses.

UndernocircumstanceswillWebeliableunderthisadditionalbenefitclauseforthecostsofcustomaryormandatoryfumigation,decontaminationorquarantinecostsandexpenses(perGovernmentQuarantineRegulationsorsimilarstatutoryrequirements).

Insolvency of carriersSubjecttoexclusionB4onpage18ofthisPolicy,iftheinsuredTransitisinterruptedorterminatedduetotheinsolvencyorfinancialdefaultofthecarrier,whetherornottherehasbeenlossordamagetotheGoods,WewillpayYoutheextracostsoffreightand/orstoragetoforwardtheGoodstotheirintendeddestination,ortoreturntheGoodstotheplacefromwhichtheyweredespatched,uptoamaximumof10%oftheinsuredvalueoftheGoods.

Interests of other partiesWhereYouarecomprisedofmorethanoneentity,theterm“You”willbeconsideredasapplyingtoeachentityinthesamemannerasthoughaseparatePolicyhadbeenissuedtoeachentity,however,OurlimitofliabilityshallnotexceedtheSumInsuredspecifiedintheScheduleandOurliabilitytomakesupplementarypaymentswillapplyasthoughtherewerenotseparatepoliciesissuedtoeachentity.

TheinterestsofanypartyotherthanYou(e.g.financiers,otherownersand/orlessors)whoYourequiretobecoveredbythisinsuredareprotectedunderthisPolicyprovidedYouhaveinformedUsaboutthemandWehaveagreedtoincludethemandnotedthemontheSchedule.

WheretheprotectionprovidedbythePolicycoverstheinterestofmorethanoneparty,anyactoromissionofanindividualpartywillnotprejudicetherightsoftheremainingparties,provided:

• theloss,damage,liability,costorexpensearenotdirectlyorindirectlycausedbyorcontributedtobyorarisefromanyoftheremainingparties’misconductorintentionallycausedbyoneoftheremainingpartiesoranypersonactingwiththeirexpressorimpliedconsent;and

• theremainingparties,immediatelyonbecomingawareofanyactoromissionthatincreasestheriskoflossordamage,givenoticeinwritingtoUsandondemandpaysuchreasonableadditionalPremiumasWemayrequire.

Delayed unpackingWewillacceptclaimsforconcealedlossordamageresultingfromanInsuredEventdiscoveredonopeningpackagesorcasesashavingoccurredinTransit,unlessprooftothecontrarycanbeestablishedprovided:

• anydelayinopeningthepackagesfollowingdeliverydoesnotexceedninety(90)days;and

• packagingshowingexternalsignsofdamage,wettingand/orstainingmustbeopenedimmediatelyandallpossiblestepstakentominimisedamage.

Exhibition/demonstrationThisPolicywillalsocoverYourInsuredGoodswhileinTransittoorfromanyexhibitionordisplay(otherthanatYourownpremises)withintheGeographicalLimitsspecifiedintheScheduleandfurtherextendstoincludewhiletheInsuredGoodsareattheexhibitionordisplaytoalimitof$100,000foraperiodofupto21daysanyoneexhibitionordisplay,orasspecifiedinthePolicySchedule,wheredifferent.

ThedefinitionofGoodsisextendedtoincludeYourstands,fixtures,fittingsandexhibitionequipmentwhereapplicable.

IntheeventthatYouorYouremployeesareobligedtostayovernightatahotel/motelinconnectionwiththeExhibitionorDemonstration,theGoodsremaincoveredprovidedthevehicleislockedandparkedwithinthehotel/motelcomplexandnotonthestreet.

Expediting expensesWewillpayupto$10,000anyonelossorseriesoflossescausedbytheoneeventinadditiontotheSumInsuredshownintheScheduleorasspecifiedinthePolicySchedule,wheredifferent,forthenecessaryincurredcostofairfreightingreplacementpartsfromsuppliersfollowinginsuredlossordamagetoGoods,eveniftheoriginalTransitwasnotbyairfreight,where:

• necessarytopreventinterruptionofYourbusiness;and

• repairorreplacementtooriginalshippedconditioncannotbeeffectedlocally.

Fumigation and decontaminationWewillcoverthereasonablecosts,chargesandexpensesoffumigation,decontaminationorquarantine(includingadditionalfreightchargesincurred)onarrivalatdestinationorintermediateportorplacewheretheGoodsare:

• Suspectedofbeinginfested,oractuallyinfested;

• Orderedbytheappropriateauthoritiestobefumigatedordecontaminated;and

• Youarelegallyresponsibleforsuchcosts;


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transportationoftheGoods,ownedbyYouorforwhichYouhavelegalresponsibilitywhilstinYourcare,custodyandcontrol;and

• anyequipmentusedbyYouinGoodstransportationincludingtarpaulins,ropes,chains,webbingstraps,restraints,dogs,gates,trolleysandcontainerswhereYouuseYourownvehiclestotransporttheGoods;

providingtheyarenototherwiseinsuredunderanyotherPolicy,duringaninsuredTransit,subjecttoalimitof$50,000anyonelossorseriesoflossesarisingoutoftheoneevent,orasspecifiedinthePolicySchedule,wheredifferent.

Repacking costsWewillpayforlossordamagetopackagingintheeventoftheoriginalshippingpackagesarrivingatthefinaldestinationinavisiblydamagedconditionarisingfromanInsuredEvent,whereitistheestablishedcustomofYouorYourtradetodelivertheGoodstothefinalcustomerpremisesintheoriginalshippingpackages.

Resecuring costsWewillcoverYouforallreasonablecostsandexpensesforwhichYouareresponsibleuptoamaximumof$10,000(unlessotherwisespecifiedintheScheduleandprovidedtheyarenotrecoverableunderanyotherPolicyofinsurance)incurredinresecuringtheGoodswheretherehasbeenmovementoftheGoodsinTransitwhichmakesresecuringnecessary,eventhoughtheremaybenoclaimresultingfromtheincident,providingthesecircumstanceswereoutsideYourcontrolandYoucouldnotreasonablybeexpectedtoknowofthemduringthenormalcourseofYourbusiness.

Sealed Container ClauseInrespectofshipmentsinFCL(FullContainerLoad)containers,providedthatdocumentaryevidenceisproducedtosubstantiatethequantityloadedintotheFCLcontainerthefactthatthecontainer’ssealisintactatunloadingpointshallnotinvalidateclaimfortheft,pilferage,shortageandnon-delivery.OnsettlementofYourclaim,YoushallassistUsinallrespectstopursuerightsofrecoveryfromthesuppliersand/orthepackersorotherresponsiblethirdparties.

Sorting Charges ClauseIntheeventofYouorYourbuyercomplyingwithsurveyor’sinstructionstosortdamagedInsuredGoodstodeterminealosswhichmayberecoverableunderthePolicy,WeshallpayforsuchexpensesasapprovedbythesurveyoreventhoughaclaimmaynotsubsequentlyresultunderthePolicy.

ThisbenefitwillnotacttoexcludetherightsofpartiestowhomYouhavesoldtheGoodsinsuredwhoareentitledtoclaimforlossordamagetotheGoodsinrespectoftheirInsurableInterestundercustomarysale/tradeterms,totheextentofcoverageprovidedbythisPolicy.

Livestock – AgistmentThisPolicycoversallreasonablecostsandexpensesnecessarilyincurredinmaintainingtheLivestockatagistmentwhencausedbyanInsuredEvent.ThemaximumamountWewillpayislimitedto$1,000peranimaland$25,000intheaggregateforanyonelossorseriesoflossescausedbytheoneevent,orasspecifiedinthePolicySchedule,wheredifferent,inadditiontotheSumInsured.

Livestock – Mustering costsThisPolicycoversallreasonablecostsandexpensesnecessarilyincurredformusteringoftheLivestockatthesceneoftheaccidentwhencausedbyanInsuredEvent.ThemaximumamountWewillpayislimitedto$1,000peranimaland$25,000intheaggregateforanyonelossorseriesoflossescausedbytheoneevent,orasspecifiedinthePolicySchedule,wheredifferent.

Livestock – “Wandering off”ThisPolicycoverslossofLivestockduetowanderingfromthesceneoftheaccidentcausedbyanInsuredEvent.ThemaximumamountWewillpayislimitedto$1000peranimaland$25,000intheaggregateforanyonelossorseriesoflossescausedbytheoneevent,orasspecifiedinthePolicySchedule,wheredifferent.

Loss of information/data/mediaProvidedthereisvisibleexternaldamagetotheGoods,Wewillpayupto$50,000anyonelossorseriesoflossesarisingfromtheoneeventforthereasonablecostofrewritingtheinformationordataprovidedthesecostsarenotrecoverableunderanyotherPolicy.

On-forwardingIfWepayaclaimunderthisPolicyforlossordamagetotheInsuredGoodsWewill,inadditiontotheSumInsured,payanyextracostsreasonablyincurredtodelivertheInsuredGoodstotheirintendeddestination,orplacefromwhichtheyweredispatched,butinnocasewillOurliabilitybemorethantheSumInsuredoftheInsuredGoods.

Packaging, containers and equipmentWewillcoverlossofordamageto:

• packagingmaterials,crates,pallets,shippingcontainers,flatracks,tanktainers,demountablebodies,flatsorsimilarunits(includingancillaryequipmentwhilstattachingtosuchunits),orsimilaritemsusedfor


17

TransitsforthePolicyperiodtoestablishthefrequencyofsuchmovements.

Traveller’s SamplesThisPolicycoversTraveller’sSamplesownedbyYouonthebasisofthecoverselectedbyYoufortheprimaryInsuredGoodsunderthisPolicy,uptoalimitof$10,000anyoneclaimorseriesofclaimsarisingfromoneInsuredEventorasspecifiedinthePolicySchedule,wheredifferent.

Inrespectoftheftormaliciousdamage,itisaconditionofthiscoverthat:

• thevehicleand/orfixedcarryingcompartmentisofafullyencloseddesigncapableofbeingsecurelylockedatalltimes;and

• windows,doorsandopeningsofthevehicleorcarryingcompartmentaresecurelylockedwhenunattendedandanyalarmsfittedtothevehicleareactivated.

IntheeventoftheInsuredbeingobligedtostayovernightatahotel/motel,theGoodsremaincoveredprovidedthevehicleislockedandparkedwithinthehotel/motelcomplexandnotonthestreet.

Tools of TradeThisPolicycoversToolsofTradeownedbyYouorYouremployeesagainstlossofordamagecausedby:

• fire,Flood,collisionand/oroverturningoftheConveyingVehicle;

• theftorpilferageofthetoolsand/orTraveller’sSamplesfollowingforcibleentryintoasecurelylockedvehicleorfixedcarryingcompartmentor,followingtheftofthevehicle;

occurringwithintheGeographicalLimitsforSection1coveranduptoalimitof$10,000anyoneclaimorseriesofclaimsarisingfromoneInsuredEventorasspecifiedinthePolicySchedule,wheredifferent.

Providedthat:

• thevehicleand/orfixedcarryingcompartmentisofafullyencloseddesigncapableofbeingsecurelylockedatalltimes;and

• windows,doorsandopeningsofthevehicleorcarryingcompartmentaresecurelylockedwhenunattendedandanyalarmsfittedtothevehicleareactivated.

Your employee’s Personal PropertyThisPolicyisextendedtocoverlossordamagetoPersonalPropertywhilstinTransitwhichisownedbyYouremployeedriversortravellingsalespersons,forwhichYouarelegallyresponsible,butexcludingthirdpartytransportoperators,causedbyoneoftheInsuredEventslistedinCoverBprovidedthelossisnotrecoverableunderanyotherPolicyofinsurance.

Strikes Diversion Expenses ClauseWewillpayanyreasonableadditionalcostsincurredbyYouupto$50,000anyonelossorseriesoflossescausedbytheoneeventinadditiontotheSumInsuredshownintheScheduleorasspecifiedinthePolicySchedule,wheredifferent,inunloading,storingandforwardingYourGoodstotheirfinaldestinationwheretheshipownersorcharterersormanagersexercisealibertygrantedtothembythecontractofaffreightmentwheresolelyinconsequenceofstrikes,riots,civilcommotions,lockoutsorlabourdisturbances,theGoodsareover-carriedtoordischargedataportotherthantheirScheduledportofdischargeunderthecontractofaffreightment.

HoweverinnocaseshallWebeliableforanycostunlessthelibertyreferredtointhisclauseisexercisedpriortotheexpiryof15daysfrommidnightofthedayonwhichthestrikes,riots,civilcommotions,lockoutsorlabourdisturbancesceasetobeinactiveoperation.

Sue and labourIntheeventoflossordamagecausedbyanInsuredEvent,YouandYourservantsarepermittedtotakesuchmeasuresasmaybereasonableforthepurposeofavertingorminimisingsuchloss.Wewill,inadditiontoanylossrecoverableunderthePolicy,reimburseYouforanycostsproperlyandreasonablyincurred.

MeasurestakenbyYouorUswiththeobjectofsaving,protectingorrecoveringtheInsuredGoodsshallnotbeconsideredasawaiveroracceptanceofabandonmentorotherwiseprejudicetherightsofeitherparty.

Transport outside Geographical LimitsWewillautomaticallycoverYourGoodsinTransitoutsidetheGeographicalLimitsspecifiedintheSchedulebutinaccordancewiththeothertermsandconditionsofthisPolicyprovided:

• thetransportiswithinAustralia;

• YoudeclarethecircumstancestoUsassoonaspossibleincludingthelikelyfrequencyofsuchtripsandanychangestoYourannualTurnoverorSendingsarisingfromYourchangedbusinesscircumstances.

WewillalsoautomaticallyholdYoucoveredintheeventofaone-offtransportoutsideYournormalGeographicalLimitsprovidedthat:

• thetransportiswithinAustralia;and

• YoudeclarethecircumstancestoUsassoonaspossible.

ThebasicPolicyExcesswillautomaticallybedoubled.

Ineithercase,WereservetherighttochargeanadditionalPremiumandapplyahigherExcessforlossordamageforsuchmovementsandrequestYourrecordsofall


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General exclusionsProperty (Goods) exclusionsWedonotinsureYouforlossordamageto:

1. propertyotherthanGoodsofthetypesnotedintheScheduleorwhicharespecifiedunderthePackaging,ContainersandEquipment,EmployeesPersonalProperty,ToolsofTradeorTravellersSamplescovers;and

2. vehiclesandmachineswhilstdrivenundertheirownpowerorwhilstbeingtowedotherthanduringLoadingandUnloadingoperations.

Perils exclusionsThisPolicydoesnotcoveranyloss,damage,liability,destruction,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtobyorarisingfromanyofthefollowing:

Losses not arising from transport of the Goods

Claimsforlossordamage:

1. whichhasnotoccurredduringtheTransit,forexample,pre-existingdamageordamageoccurringaftertheGoodshavebeendeliveredatdestination;

2. asaresultofrejection;

3. arisingfromunexplainedloss,mysteriousdisappearanceand/orshortagededucedsolelyfromaninventorycomputation;

4. resultingfrominsolvencyorfinancialdefaultofanyagentortransportservicesprovider,whereYouwereaware,orshouldhavebeenawareinthecourseofnormalbusinessactivities,ofthecircumstances;

5. delay,lossofmarket,orconsequentiallossofanydescriptionevenifcausedbyanInsuredEvent;

Failure to take Due Care and/or deliberate damage

LossordamagetoGoodscausedby:

6. YourmisconductorintentionallycausedbyYouoranypersonactingwithYourexpressorimpliedconsent;

7. failuretoexerciseDueCareinthesafehandling,storage,protectionandsecurityoftheGoodstotheextentthesemattersarewithinYourcontrol;

8. shiftingoftheGoodsorimproperstowageand/orrestraintoftheGoodsonYourConveyingVehiclewhereGoodsaretransportedbyYou,unlessYoucandemonstratethatYoucompliedwithallstatutoryrequirementsinrespectoftheload;

9. otheritemsleftinsideavehicleormachinewhichhasnotbeensuitablysecuredtopreventmovement;

InnocaseshallOuraggregateliabilityunderthePolicyforlossordamagetoPersonalPropertyexceed$2,000foranyonelossorseriesoflossesarisingoutoftheoneevent,orasspecifiedinthePolicySchedule,wheredifferent.ThisbenefitisinadditiontotheSumInsuredshownontheSchedule.


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20. arisingfromthedismantling,assembly,testingorfabricationofmachinery,plant,equipmentorstructure;

Liability for third party losses

21. damagetothirdpartypropertyexceptasprovidedinthePackaging,ContainersandEquipmentbenefit;

22. loss,damage,liability,destruction,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtobyorarisingfromAsbestos,oranymaterialscontainingasbestosinwhateverformorquantity;

23. theinfectionofproperty,humans,animalsorotherlivingcreaturesbyinfectiousmatter,orthespreadingorreleasingthereof,byYou,whetheraccidentally,knowingly,wilfully,maliciouslyorotherwiseincludinganylossescausedbyquarantinablediseaselistedintheAustralianQuarantineAct1908orsimilar;

24. failuretoarrangeinsurancetothebenefitofathirdparty,orforanyclaimsarisingfromYourProfessionalNegligenceandErrorsorOmissionsassociatedwithanyofferofinsurance;

War, strikes, legal seizure, nuclear, cyber

25. loss,damage,liability,destruction,costorexpenseofanynaturewhatsoeverthatisdirectlyorindirectlycausedbyorcontributedtobyorarisingfromanyofthefollowing:Legalseizure,confiscation,nationalisationorrequisitionoftheGoods,nationalisation,requisition,destructionordamagebytheorderofanyGovernment,PublicAuthorityorLocalAuthority,andanyfines,penalties,aggravated,exemplary,liquidatedorpunitivedamages;

26. warorwarlikeactivities,whichmeansinvasion,actorforeignenemy,hostilities(whetherwarisdeclaredornot),civilwar,rebellion,revolution,insurrectionorcivilstrifefollowinganyofthesewhilstYourpropertyisnotonboardaship,vesseloraircraft;

27. theabsence,shortageorwithholdingoflabourofanydescriptionresultingfromstrike,lockout,labourdisturbance,riotorcivilcommotion;

28. anychemical,biological,bio-chemical,orelectromagneticweaponoranyweaponordeviceemployingatomicornuclearfissionand/orfusionorotherlikereactionorradioactiveforceormatter;

29. theradioactive,toxic,explosiveorotherhazardousorcontaminatingpropertiesofanynuclearinstallation,reactororothernuclearassemblyornuclearcomponentthereof,ionisingradiationsfromorcontaminationbyradioactivityfromanynuclearfuelorfromanynuclearwasteorfromthecombustionofnuclearfuel;

Normal losses etc

LossordamagetoGoodsdueto:

10. inherentvice(exceptforrefrigerated,temperaturecontrolledorperishableGoodsduetovariationintemperatureasprovidedinCoverA(wheretaken);

11. moths,mould,mildew,insects,ratsorothervermin,ordinaryleakage,lossinweightorvolumeorwearandtearoftheGoods;

12. rust,oxidisationordiscolouration,unlesscausedbyanInsuredEvent;

Fraud

Lossordamageasaresultoffraudulentordishonestacts,fraudulentmisappropriation,embezzlementandforgeryinvolvingtheInsuredGoodsbyYouoroneofYouremployeesactingaloneorincollusionwithanyotherperson(s).However,thisexclusionshallnotapplytotheftfollowingforcibleandviolententryuponpremisesorfeloniousconcealmentuponpremisescommittedbyoneofYouremployees;

Livestock

LossordamagetoLivestock:

13. causedbyinnoculationoritsaftereffects,infectiousdiseases,abortionorlossordeathoffoetus;

14. whicharenotingoodhealthpriortoloadingandfitfortravel;

Refrigerated, perishable or temperature controlled Goods

Lossordamagecausedby:

15. failureofYourrefrigerationequipmentwhereithasnotbeenregularlyservicedandmaintained;

16. YourfailuretotakeallreasonableprecautionstokeeptheGoodsinarefrigerated,properlyinsulatedorcooledspace;

Machinery, equipment, data etc

LossordamagetoGoodscausedbythefollowing:

17. electronic,electricalormechanicalfailureoftheGoodsunlessthereisvisibleexternalphysicaldamagetotheGoodswhichoccurredduringTransitcausedbyanInsuredEvent;

18. lossofdatafromanycomputerhardwareorsoftwareunlessthereisvisibleexternalphysicaldamagetotheGoodswhichoccurredduringTransitcausedbyanInsuredEvent;

19. damagetoGoodswhicharevehiclesormachineswhilstbeingtowedorwhilstbeingdrivenundertheirownpowerexceptduringloadingandunloadingoperationsasspecifiedinthisPolicy;


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General conditions and Cover restrictionsApplicable lawThisPolicyisgovernedbyandshallbeconstruedinaccordancewiththelawsofAustralia.AnydisputerelatingtothePolicyshallbesubmittedtotheexclusivejurisdictionofacompetentCourtwithintheStateorTerritoryofAustraliainwhichthePolicywasissued.

AuthorityWemaygivetoandobtainfromanyotherinsurers,insurancereferencebureausandcreditreportingagenciesanyinformationrelatingtoYourcreditorinsurancehistoryaswellasinsuranceclaimsinformation.

Breach of Warranty or conditionThelawgivesUsanumberofrightsifYoudonotcomplywiththeconditionsofthisPolicy.InparticularcasesWemaybeableto:

• cancelthePolicy;

• avoidthePolicyfromthecommencementdateofthePeriodofInsurance;

• refusetopayaclaim;

• reducetheamounttobepaidoutonaclaim.

Warrantiesareconditionswhichmustbeexactlycompliedwith,whethermaterialtotheriskornot.UndertheMarineInsuranceAct1909,whereapplicable,iftheyarenotcompliedwith,then,subjecttoanyexpressprovisionsinthePolicy,WearedischargedfromliabilityasfromthedateofthebreachoftheWarranty,butwithoutprejudicetoanyliabilityincurredbyUsbeforethatdate.

Deck Shipments ClauseWheretheGoodsaretransportedinshippingcontainerswhicharenotfullyenclosedandtheseareshipped“ondeck”,coverexcludesloss,damageorexpensecausedbyorarisingfromrust,oxidisation,discolouration,freshwaterorseawaterunlessasaresultofaperillistedundertheheadingOptionBonpage12.

Declaration of actual Turnover or SendingsThedepositPremiumadvisedattheinceptionofeachPeriodOfInsuranceisprovisionalandbasedontheestimatedannualTurnoverorSendingsduringthePolicyperiodagreed.OnexpiryofthePeriodOfInsurancethePolicywillbeadjustedbyapplyingtheagreedratepercenttotheactualTurnoverorSendingsforthatperiod.ForthepurposeofascertaininganyadjustmenttothisPremium

30. theradioactive,toxic,explosiveorotherhazardousorcontaminatingpropertiesofanyradioactivematter.TheexclusioninthisSub-Clausedoesnotextendtoradioactiveisotopes,otherthannuclearfuel,whensuchisotopesarebeingprepared,carried,stored,orusedforcommercial,agricultural,medical,scientificorothersimilarpeacefulpurposes;

31. theuseoroperation,asameansforinflictingharm,ofanycomputer,computersystem,computersoftwareprogramme,maliciouscode,computervirusorprocessoranyotherelectronicsystem.

Terrorism

Wewillnotcoverdeath,injury,illness,loss,damage,costorexpensedirectlyorindirectlycausedby,contributedtoby,resultingfromorarisingoutoforinconnectionwithanyactofTerrorismotherthanwhiletheGoodsareinthenormalcourseofTransitasdefinedbythisPolicyregardlessofanyothercauseoreventcontributingconcurrentlyorinanyothersequencetotheloss.ThisPolicyalsoexcludesdeath,injury,illness,loss,damage,costorexpensedirectlyorindirectlycausedby,contributedtoby,resultingfrom,orarisingoutoforinconnectionwithanyactionincontrolling,preventing,suppressing,retaliatingagainst,orrespondingtoanyactofTerrorism.WherethisPolicyoranycoverextensionspecificallyprovidescoverforinlandorotherfurthertransitsfollowingonfromastorageperiod,orterminationasprovidedforinthedefinitionofInsuredTransitinthisPolicy,coverwillre-attach,andcontinuesduringtheordinarycourseofthatTransitbutterminatingasspecifiedintheInsuredTransitprovisionsofthisPolicy.


21

thenWereservetherighttoseekcontributionfromanyotherinsurer(s).IfYouareawareofsuchotherinsurancecoveringeitherwhollyorinparttheInsuredGoods,YouarerequiredtonotifyUs.YoumustalsoprovideUswithfullinformationandallreasonableassistanceintherecoveryofOurrateableproportionofsuchlossordamage.

Prohibited cover or paymentsIrrespectiveofanyotherprovisionofthePolicy,Weshallnotbedeemedtoprovidecoverorbeliabletopayanyclaimorprovideanybenefit(includingarefundaPremium)hereundertotheextentthattheprovisionofsuchcover,paymentofsuchclaimorprovisionofsuchbenefitwouldcontraveneorotherwiseexposeUstoanypenalty,sanction,prohibitionorrestrictionunderUnitedNationsresolutionsorthetradeoreconomicsanctions,lawsorregulationsofAustralia,NewZealand,theEuropeanUnion,UnitedKingdomorUnitedStatesofAmerica.

Subrogation/Rights of Recovery ClauseWehavetherighttotakeactionorinstitutelegalproceedings,inYourname,fortherecoveryofpaymentsmadeandexpensesincurredinrelationtoanyclaimcoveredbythisPolicy,againstanyperson,companyorentitylegallyliabletoYouinrespectofthatclaim.YoumustprovideUswithfullinformationandallreasonableassistanceintherecoveryofthosepaymentsorexpenses.

Waiver of subrogation rightsWemaynotbeliabletopayanybenefitsunderthisPolicyforlossordamagetoInsuredGoodsifYouagreeorhaveagreedtolimitorexcludeanyrightofrecoveryagainstanythirdpartywhowouldbeliabletocompensateYouwithrespecttothatdamagetoInsuredGoodsafterthelossofordamagetotheInsuredGoodshasoccurred.ThisprovisiondoesnotapplytoYoursignatureofaTransportOperator’sstandardconditionsofcartage,consignmentnote,BillofLading,AirWaybillorsimilarcontractofaffreightment.

Youmustprovide,withinninety(90)daysfromtheexpiryofeachPeriodofInsurance,theactualTurnoverorSendings.

ThedifferencebetweenthePremiumbasedontheactualfiguresattheendoftheperiodandthePremiumcalculatedatinceptionwillbepaidbyorallowedtoYou,asthecasemaybe,butinanyeventaminimumretained Premiumequivalentto75%orasmayotherwisebeagreed,ofthefullPremiumbasedontheinitialestimateswillberetainedbyUs.

WeagreetowaiveanyadjustmentofPremiumotherthanthedifferencebetweenthedepositPremiumpaidandthefullPremiumbasedontheoriginalestimatesprovidedbyYouwherethedifferencebetweentheactualTurnover/SendingsandtheestimatedTurnover/Sendingsislessthan10%.

IfthedepositPremiumis$5,000orless,thedepositPremiumshallberegardedastheminimumPremiumforthePeriodOfInsuranceshownintheScheduleandnoadjustmentofactualfiguresisrequiredotherthanthedifferencebetweenthedepositPremiumpaidandthefullPremiumbasedontheoriginalestimatesprovidedbyYou.

Youarerequiredandagreetokeepaccuraterecordsofallsuchfiguresand,onrequest,toprovideUswithanauditedcopyoftheserecords.IfWerequestanauditedcopyoftherecordsandthisisnotavailablethenWemayappointanauditor.WeshallpayforthecostoftheauditbutiftheauditrevealsthatthefiguresdeclaredbyYouareincorrect,YoushallreimburseUsforthecostoftheaudit.

Delay or interruption by YouIfafterdischargeoftheInsuredGoodsatdestination,YoubyYouractionorfailuretotakeaction:

• delaytheforwardingor;

• causetheInsuredGoodstobestoredatanylocationotherthanthebuyers’orotherfinalwarehouseorplaceofstorageattheportofdestination;

thentotheextentpermittedbylaw,YoumayprejudiceYourrightsunderthisPolicytomakeaclaim.

Due CareItisaconditionofthisPolicythatatallstagesYoumusttakeDueCareinthehandling,storage,protectionandmovementofGoodsandtheprovisionofinstructionstoanytransportservicesprovidersYouengagetotransportYourGoods.

Other insuranceIf,atthetimeofanyloss,damageorAccidentthatmaygiverisetoclaimunderthePolicy,thereisanyotherinsurancePolicycoveringtheInsuredGoodswhilstintheordinarycourseofTransiteffectedbyanyotherparty


22

Claims proceduresThese procedures are important. Failure to follow them might jeopardise a claim under this Policy.

Notification

A. YouMUSTassoonasYoubecomeawareofany,oranypotentiallossordamagewhichmayresultinaclaimunderthePolicy,atYourownexpenseasifYouarenotinsured:

(i) takesuchmeasuresasmaybereasonableforthepurposeofavertingorminimisingsuchlossordamage.WewillreimburseYouforanychargesproperlyandreasonablyincurredinpursuanceoftheseduties.

MeasurestakenbyYouorUswiththeobjectofsaving,protectingorrecoveringtheInsuredGoodsinsuredshallnotbeconsideredasawaiveroracceptanceofabandonmentorotherwiseprejudicetherightsofanyparty;

(ii) immediatelyadviseUsofthelossordamageordeathorinjuryofLivestockwhereapplicableincludingthelocationandcircumstancesoftheloss,timeanddate.Wemaydecidetoappointasurveyororanassessortoinspectthedamagetodeterminethecause,andwhomightberesponsibleforit.Youshouldco-operatewiththesurveyorfullyasthiswillassistwiththespeedyadjustmentofYourclaim;

(iii) takeallreasonableactiontorecoverlostorstolenInsuredGoodsandminimisetheclaim,including,inrespectofLivestock,musteringandagistmentoftheanimals(whichareclaimableunderthisPolicytotheextentofthecoverslistedundertheAdditionalBenefitssection);

(iv) asfaraspossiblepreserveanyInsuredGoodsorotheritemswhichmightprovenecessaryorusefulasevidence.InrespectofLivestock,whereithasbeennecessarytoremoveordisposeofthemontheorderofresponsibleofficials,deathoftheanimalistobecertifiedbyaveterinarianortheresponsibleofficial;

(v) intheeventofaGeneralAveragecontributionarisingunderthePolicy,consultUsorOurnominatedsettlingagentbeforesigninganyGeneralAveragebond;

(vi) properlypreserveandexerciseallrightsagainstcarriers,baileesorotherthirdpartiesspecifically:

• donotreleasethosepartiesfromliability;

• donotgive“cleanreceipts”whereInsuredGoodsareindoubtfulcondition.Thatis,whentheInsuredGoodsaredelivered,You

ClaimsGST noticeThisPolicyhasaGSTprovisioninrelationtoPremiumandOurpaymenttoYouforclaims.ItmayhaveanimpactonhowYoudeterminetheamountofinsuranceYouneed.Pleasereaditcarefully.SeekprofessionaladviceifYouhaveanyqueriesaboutGSTandYourinsurance.

Limit of IndemnityAllmonetarylimitsinthisPolicymaybeincreasedforGSTinsomecircumstances(seebelow).

Claim settlements – where We agree to pay

WhenWecalculatetheamountWewillpay,WewillatYourrequesteitherpayYouortheowneroftheInsuredGoodsorLivestockandWewillhaveregardtotheitemsbelow:

• WhereYouareliabletopayanamountforGSTinrespectofanacquisitionrelevanttoYourclaim(suchasservicestorepairadamagediteminsuredunderthePolicy)WewillpayfortheGSTamount.

WewillpaytheGSTamountinadditiontotheLimitofIndemnityorotherlimitsshowninthePolicyorinYourSchedule.

IfYourLimitofIndemnityisnotsufficienttocoverYourloss,WewillonlypaytheGSTamountthatrelatestoOursettlementofYourclaim.

WewillreducetheGSTamountWepayforbytheamountofanyinputtaxcreditstowhichYouareorwouldbeentitled.

• WhereWemakeapaymentunderthePolicyascompensationinsteadofpaymentforarelevantacquisition,WewillreducetheamountofthepaymentbytheamountofanyinputtaxcreditthatYouwouldhavebeenentitledtohadthepaymentbeenappliedtoarelevantacquisition.

Disclosure – input tax credit entitlement

IfYouregister,orareregistered,forGSTYouarerequiredtotellUsYourentitlementtoaninputtaxcreditonYourPremium.IfYoufailtodiscloseorunderstateYourentitlement,YoumaybeliableforGSTonaclaimWemaypay.ThePolicydoesnotcoverYouforthisGSTliability,orforanyfine,penaltyorchargeforwhichYoumaybeliable.


23

• billoflading,airwaybill,orconsignmentnote(anoriginalispreferable,andmayberequiredforanyrecoveryactionagainstathirdparty);

• copiesofallcorrespondenceexchangedwithanythirdparty;

• anyinternal(withinYourcompany)reportsormemosdetailingtheextentofthedamage;

• repairquotationsorreceipts;

andanyotherdocumentsthatmightconfirmthecircumstancesofthelossordamageandsubstantiatetheamount/sbeingclaimed.

B. YouorYourbuyerMUSTNOT:

(i) authorisetherepairorreplacementofanythingwithoutOuragreement;

(ii) disposeofanydamagedInsuredGoodswithoutgivingUstheopportunitytoexaminethoseInsuredGoods.

C. AfterYouhaveadvisedUsofanylossofordamagetoInsuredGoods:

(i) YoumustcomplywithallPolicytermsandconditionsbeforeWewillmeetanyclaimunderthePolicy;

(ii) WehavetherighttorecoverfromanypersonagainstwhomYoumaybeabletoclaimanymoneypaidbyUs.Wemaytakeoverandconduct,inYournamethedefenceorsettlementofanyclaimandWewillhavefulldiscretionintheconductofanyproceedingsinconnectionwiththeclaim;

(iii) WemaypayYoutheSumInsuredunderthePolicyoranylesseramountforwhichaclaimorclaimsmayreasonablybesettled.AfterWehavepaidYou,Wewillnolongerbeliablefortheclaim(s)(orfutureconductoftheclaim(s))exceptforcostsandexpensesincurredupuntilthetimeWepayYouthatWepreviouslyagreedtopay.

willbeaskedtosignthecarrier’sreceipt(i.e.consignmentnoteordeliverydocket)whichusuallyacknowledgesthattheconsignmentwasreceivedingoodcondition.

Ifthereisanyobviousevidenceofdamageorshortagedonotunderanycircumstancessignthedocument.

Ifasignatureisrequired,addanotetotheeffectthattheInsuredGoodsweredelivereddamaged.Thatiswhatistermeda“qualifiedreceipt”.

IfYoususpectthatthereisdamage,evenifitisnotobvious,addanotetosaythat‘YouareacceptingtheInsuredGoodsinapparentgoodorderandcondition’.

Givingasignaturewithoutanycommentistermedgiving(orsigning)a“cleanreceipt”.

A“cleanreceipt”infersthatYouagreethattheInsuredGoodswerenotdamagedatthetimethesignaturewasgiven.ThatmakesitdifficultforYoutoprovetothecarrierthatYouhaveavalidclaim.

• ifYourInsuredGoodsaredeliveredinashippingcontainer,examinethelocksandsealsandcomparethenumberswiththoselistedontheshippingdocuments,preferablybeforethecontainerisremovedfromtheConveyingVehiclethatdeliveredittoYourpremises.

Ifthecontainerisdelivereddamagedorwithsealsbrokenormissingorwithsealsotherthanstatedintheshippingdocuments,notethedeliverydocketaccordinglyandretainalldefectiveorirregularsealsforsubsequentidentification;

(vii) ifthelossordamagewasnotimmediatelyapparentatthetimeofdelivery,applyimmediatelyforsurveysbythecarriersorotherbailees,tobeconductedwithin3daysofdelivery;

(viii) provideUswithawrittenclaimdetailing:

• thenatureandextentofthelossordamage;

• anyotherinsurancethatmayexistontheInsuredGoods;

(ix) attachoriginalorlegiblephotocopies(ofbothsidesofanydocumentthathasanythingonthereverse)ofanyofthefollowingthatareapplicabletothecircumstances:

• shippinginvoices,specifications,packinglists,weightnotes,gatepasses;

• commercialinvoices;


24

Thispagehasbeenleftblankintentionally.


For all enquiries please call your insurance intermediary

allianzmarineandtransit.com.au

Allianz Marine & Transit Underwriting Agency Pty Limited AFS Representative No. 423910 ABN 98 155 554 279 Level 1, 61 Lavender Street, Milsons Point NSW 2061 as agents of the insurer Allianz Australia Insurance Limited AFS Licence No. 234708 ABN 15 000 122 850 PO

L615

BA/A

M&

T 03

/15


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