Quotations for Vessels Already Insured Sample Clauses

Quotations for Vessels Already Insured. Firm Commitments by the Commitment Date
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Quotations for Vessels Already Insured. Firm Commitments by the Commitment 5 CLARIFICATION (approved by Group Managers in July 2001): Mobile Offshore Units ("MOUs") are taken to mean (only) drilling and production vessels as defined in Appendix 5, clause 18 of the Pooling Agreement). For most practical purposes, MOUs are not capable of benefiting from the Pool, because liabilities are excluded when they arise out of or during the operations for which such ships are constructed. Accordingly, this Agreement should not apply to them, and this is the case equally where MOUs are part of a fleet which also includes conventional, poolable ships. The position of MOUs differs from other specialist ships in respect of which owners may incur a wide range of liabilities, many of which are poolable, and some of which are not. For example, ships which carry out specialist operations (as defined in Appendix 5, clause 17 of the Pooling Agreement), such as dredgers and cable layers, benefit substantially from cover under the Pool. This is because not only are liabilities not arising out of the specialist nature of the operations poolable but also because a number of liabilities which do arise out of the specialist nature of the operation remain poolable (loss of life on board the ship, wreck removal and oil pollution from the ship). Such ships therefore should continue to be subject to this Agreement. So also, for example, should supply boats, whose risks are largely poolable but which may carry out certain operations under contracts for which the Pooling Agreement lays down parameters; so also, for example, should heavy lift ships on which liabilities are normally poolable providing an appropriate form of contract is used. A distinction can and should be drawn between MOUs, which can only very rarely benefit from the Pool and which are typically not declared to the Pool, and all other ships, which largely benefit from the Pool even if certain risks in certain circumstances are not poolable and for which additional insurance may be arranged.
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Related to Quotations for Vessels Already Insured

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