Bermuda P&I Class Rules 2001/2002 - The Standard Club

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Recovery by charterers
16.3 Where recovery is sought from the Club by or on behalf of a charterer,
not being a bareboat or demise charterer, then such recovery shall be
limited in respect of all claims arising out of any one incident or
occurrence to such sum or sums as the Board may from time to time
determine, whether or not the charterer has received notice of such
determination.
Note:The Board has determined that in addition to any other limitations of cover
contained in the Rules or set out in the Certificate of Entry the following
limitations of cover, unless otherwise agreed in writing by the Managers, shall
apply from 20th February 2001:
(i) For the purposes of this note;
(i.a) any reference to a charterer shall be deemed to be a reference to a charterer
other than a bareboat or demise charterer;
(i.b) “Charterer’s” Entry means an entry which has a charterer as Member or as
Principal Assured;
(i.c) “Owner’s Entry” means an entry other than a Charterer’s Entry;
(i.d) “limitation amount” means, in relation to any claim, the amount to which
the insured person could have limited its liability had it been the registered owner
of the relevant ship and had it sought and not been denied the right to limit.
(ii) In respect of all claims (other than oil pollution claims) arising under any one
Charterer’s Entry or arising in respect of charterers insured as Joint Entrants or as
Co-assureds under any one Owner’s Entry recovery shall be limited in the
aggregate to the lesser of:
(ii.a) U.S.$100 million in excess of the limitation amount (if any) and
(ii.b) U.S.$300 million
each incident or occurrence.
(iii)
(iii.a) In respect of all oil pollution claims arising under any one Charterer’s
Entry, recovery shall be limited in the aggregate to U.S.$100 million any one
event.
(iii.b) In the event that there is more than one Charterer’s Entry in respect of the
same ship with the Club and/or with any other insurer which participates in the
Pooling Agreement, the aggregate recovery in respect of all oil pollution claims
arising under such Charterers’ Entries shall not exceed U.S.$300 million any one
event, and the liability of the Club under each such Charterer’s Entry shall be