Brief overview

Main differences between ITCH & the Nordic Plan 

This is a limited overview of the most significant differences between CL 280 Institute Time Clauses Hulls 1983 (ITCH) and the Nordic Marine Insurance Plan 2013, Version 2016 (the Plan). Whereas the Plan contains a vast majority of regulation directly in its wording, the ITCH are typically subject to English law and jurisdiction and therefore significant interpretation has to be deducted from background law.

Perils insured

Insurance of Mortgagees

Constructive Total Loss - Trigger

Collision and Striking Cover

Costs to minimize loss, GA, Sue and Labour

Interest on Claims

Expediting Damage Repairs - The 20 per cent rule

Recovery Apportionment

Duties of the Assured