As a consequence of the sanctions legislation imposed by the European Union (Council Regulation 961/2010), the United Stateds of America (The Comprehensive Iran Sanctions Accountability and Divestment Act of 2010) and the United Nations (Security Council Resolution 1929) the Association will include the below clause in all our Marine policies as from 1.1.2011. The below clause does from 1.1.2011 form part of the Association’s Mandatory Club Clauses.

W.10

2010-01-27

In case of, but not limited to, Acts of God, restrictions or prohibitions of any kind made or imposed by any Government, wars, insurrections and any other cause beyond the Association’s reasonable control that would affect the Association’s ability to re-insure the relevant risks and otherwise in general prevent the Association from fulfilling its contractual obligations then;

a) Cover in respect of H&M, LoH, IV, WAR and any other policies, may be cancelled by the Association giving 7 days notice (such cancellation becoming effective on the expiry of 7 days from midnight of the day on which notice of cancellation is issued by the Association). If it is possible to arrange alternative re-insurance solutions the Association agree however to reinstate cover subject to agreement between the Association and the Assured prior to the expiry of such notice of cancellation as to new rate of premium and/or conditions and/or warranties

b) The Association shall not be liable for any delay or default in performing its obligations under any of the relevant policies.

Yours sincerely,
The Swedish Club
Lars Rhodin