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What geographical trading restrictions are often attached to marine insurance policies?

The Institute Warranty Limits are often attached to policies containing the Institute Time Clauses – Hulls (1/10/83). 

They prohibit ships from entering the extreme northern and southern latitudes and other ice-prone areas of the world such as the Atlantic coast of North America, the Great Lakes, Greenland waters, Baltic Sea, Bering Sea and northern Far East waters unless amended terms are agreed; carriage of Indian coal in eastern waters during the summer months is also prohibited. The more modern (but less commonly used) International Hull Clauses (01/11/03) include a Navigating Limits clause containing restricting entry to the Arctic, Northern Seas, Baltic, Greenland, North America (east), North America (west), Southern Ocean, Kerguelen/Crozet, East Asia and Bering Sea.

 

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