INSURANCE RATES

Auckland Star, Volume LXXIII, Issue 106, 7 May 1942, Page 5

INSURANCE RATES

CARGOES TO BRITAIN

ADVICE FROM LLOYD'S

Cable advice has been received by local insurance offices from the Institute of London Underwriters that Lloyd's Underwriters have agreed, as from May 1, to insure approved cargo subject to a special terms clause which will be forwarded by air mail.

The agreement provides that the assured may elect, before an attachment of risk, to pay an additional premium to have substituted for the present warehouse-to-warehouse de-. viation and liberties clauses. There is a special clause by which insurance is made continuous from the time of leaving the warehouse until delivery at the final warehouse at the destination named in the policy, or a substituted destination if the venture is interrupted, however prolonged by circumstances beyond the rontrcl of the assured the transit may be, and including transhipment. Such protection is only to be granted on payment of the following obligatory minimum rates applicable to each shipment and not necessarily to cover as a whole: —"Australia or New Zealand, to or from U.K.F.P.A., J per cent; West Australia, j per cent; fuller conditions, two; to or from U.S.A., or Canada, via Atlantic. Pacific rates as U.K- Other voyages held covered."