Rule 50 Insurance event

For the purposes of the Defence cover, the event giving rise to a claim shall be deemed to arise as follows:

1. claims arising out of contract (subject to paragraphs (b) and (c) below), in tort or under statute:

2. when the cause of action accrues;

3. claims for salvage or towage: when the services are commenced;

4. claims arising in connection with the building of a vessel: at the date of signing the building contract.