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THE HONGKONG GOVERNMENT GAZETTE, DECEMBER 24, 1914.
(b.) All policies of recognised British or alien Companies or Underwriters (other than enemy) issued on or after the outbreak of war will be accepted. This does not authorise the acceptance of policies, whether British or alien, issued by trading or other firms not coming within the general scope of recognised Underwriting Associations.
Applicants for insurance of cargo under the Government Scheme, if in doubt as to the admissibility of their marine insurance policies under the foregoing rules, should, when submitting their proposals for insurance, produce the marine policies for consideration, and, in case of need, endorsement, if approved."
11. Where the insurance is described on the slip as amount insured only, and not to the insurance as a whole.
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Provisional," this refers to the
The premium on the whole amount must in all cases be paid in the first instance, subject to any such refund as may be subsequently substantiated.
12. The Committee are prepared, in certain circumstances, to consider applications for the issue of open policies.
13. No interior or land risks are taken by the War Risks Insurance Office.
14. The brokerage to be deducted should be calculated at the rate of one shilling per guinea of premium. No discount is allowed.
15. It rests on applicants to see that the information and calculations appearing on the application slip shall be in all respects correct.
16. The referrence to #f
stamp" printed on the slip may be disregarded; the policy will be stamped by the Inland Revenue authorities without further charge.
17. Cheques must be made payable to the "War Risks Office," and crossed "Bank of England.'
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18. Applicants desiring to retain at their own risk a portion of the war risk, insuring the remainder under the Government Scheme, may so retain up to, but not exceeding, 50 per cent. of the declared value, but with the reservation that whatever be the proportion so retained at the inception of the risk it shall be retained at the risk of the assured until its termination. In such cases the total value of the interest at risk must be declared on the application slip for insertion in the policy.
The foregoing does not preclude the assured from insuring with approved Underwriters or Insurance Companies any portion of the war risk not placed with the War Risks In- surance Office, provided that such insurance be effected not later than the insurance with the War Risks Insurance Office.
19. The value for the purpose of insurance against war risks must not exceed the value for insurance against sea risks.
20. The premium in force at the time the insurance was effected cannot, unless in the case provided for in Clause 1 of the policy, be afterwards reduced or increased.
21. Payment of admitted claims will be made promptly by cheque on the Bank of England.
22. Application slips for insurance must be filled up in duplicate, one copy to be marked "Duplicate " for retention by the War Risks Insurance Office.
The premium must be paid at the time the application is handed in.
23. Copies of this Memorandum, application slips for insurance, and specimen policies are obtainable at the War Risks Insurance Office, where all applications for the insurance of cargo under the Government War Risks Insurance Scheme must be made personally by the applicant or his representative. Postal or telegraphic applications cannot be accepted.
Application slips can also be obtained at Lloyd's, or at the Institute of London Under- writers, 1, St. Michael's House, Cornhill, E.C.
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