Holding covered Clause Samples
The "Holding covered" clause serves to ensure that an insurer continues to provide coverage for a risk even if certain policy terms or conditions have not been strictly complied with, pending further agreement or clarification. In practice, this means that if, for example, a vessel's route changes or a cargo's destination is altered without immediate notification to the insurer, the coverage remains in effect temporarily while the parties negotiate any necessary adjustments to the policy or premium. This clause is essential for maintaining uninterrupted insurance protection during unforeseen changes or administrative delays, thereby preventing gaps in coverage that could leave the insured exposed to loss.
Holding covered. If the company is holding cover on a risk they will not reject a claim on the basis that the contribution has not been agreed.
Holding covered. If the Company is holding covered on a risk they will not reject a claim on the basis that the premium has not been agreed. I Schedule sums Insured blank If, in a schedule of this policy, the sum insured, limit of indemnity or compensation is:
(i) left blank or has no monetary amount stipulated against it;
(ii) reflected as nil or not applicable or not covered or no indemnity extended; this means the defined event or circumstance shown in the schedule is not Insured by the policy.