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SANCTION CLAUSE

Generali shall not be deemed to provide cover and Generali shall not be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that Generali to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, the United States of America or Switzerland.

 

 

TERRITORIAL EXCLUSION CLAUSE

This Policy excludes the provision of any insurance service, coverage or benefit in connection with loss, damage or liability

 

(i) resulting from activity in fully embargoed and comprehensively sanctioned countries/territories according to the overall list of sanctioned individuals, entities and organizations of the State Secretariat for Economic Affairs SECO (“SECO list”) or the territorial waters, contiguous zone, or exclusive economic zone of the said countries (“waters”) (other than mere transit without a scheduled stop through fully embargoed and comprehensively sanctioned countries/territories, according to the SECO list, or their waters, with the exception of any international shipping lanes);

 

(ii) incurred by the government of fully embargoed and comprehensively sanctioned countries/territories according to the SECO list, persons or entities resident in fully embargoed and comprehensively sanctioned countries/territories according to the SECO list or located in fully embargoed and comprehensively sanctioned countries/territories according to the SECO list or their territorial waters; or

 

(iii) resulting from activities that directly or indirectly involve or benefit the government of fully embargoed and comprehensively sanctioned countries/territories according to the SECO list, or persons or entities resident or located in fully embargoed and comprehensively sanctioned countries/territories according to the SECO list. However, this exclusion shall not apply to activities carried out or services provided in an emergency for the purposes of safety and/or security or where the related risk has been notified to Generali and Generali has confirmed cover for the respective risk in writing.

 

 

LIABILITY CLAUSE

Generali shall not indemnify the Insured for any liability in respect of any judgement, award, payment, legal costs and expenses or settlement delivered, made or incurred where legal actions are brought in a court of law within countries which operate under the laws of fully embargoed and comprehensively sanctioned countries/territories according to the overall list of sanctioned individuals, entities and organizations of the State Secretariat for Economic Affairs SECO (“SECO list”) or for any liability in respect of any order made anywhere in the world to enforce such judgement, award, payment, legal costs and expenses or settlement either in whole or in part.

 

AIS MANIPULATION CLAUSE

The policy shall not provide any coverage for any vessel that is operating in a manner designed to preclude, disguise or otherwise impede the detection of its identity or location, including but not limited to deactivation of its Automatic Identification System ("AIS") or manipulation of AIS data. In case of precluded, impeded or disguised identity or locations in conjunction with activities or locations that may be prohibited by any applicable economic sanctions, laws or rules, including those administered by the EU, US or UN, Generali has the right to unilaterally terminate this coverage immediately by giving notice to the policyholder. This exclusion and termination shall not apply where such inability to detect the vessel’s identity and location is due to a demonstrable malfunction or other similar demonstrable external event beyond the control of the owners or operators of the vessel. In cases where the inability to detect the vessel’s identity or location is due to demonstrable malfunction or an external event, the policyholder must notify Generali, and Generali will confirm in writing to the policyholder whether: (i) cover for that vessel will continue; or (ii) cover for that vessel will cease from such date as is specified by Generali.