New International Hulls Clauses have been in effect since 1 November 2002, for use with marine policies issued in London. The clauses replaced those adopted in November 1995. In many respects the 2002 Clauses are similar to their predecessor, however the opportunity has been taken to modernise wordings, and there are a number of important new provisions. The most significant changes are the following;
COVERAGE
The insuring clause, cl 2, retains the distinction between loss caused by perils for which the insurers are strictly liable and (under the Inchmaree Clause) loss caused by perils for which the insurers are liable only if the loss has not resulted from want of due diligence by the assured, owners or managers. The insured perils are largely unchanged, although a number of points may be noted.
