UNIVAN MARITIME (H.K.) LIMITED Issue 1 REV 0 Page 1

FLEET OPERATION MANUAL Date 18.12.2009

INSURANCE POLICY SECTION1.6

Copyrights: Univan Maritime (H.K.) Limited. All rights reserved Any unauthorized reproduction of this manual, in any form is prohibited

1.6 Insurance Policy

It is a Company policy to ensure that all vessels under management are fully covered for P&1 and H&M risks and other adequate insurance covers at all times to protect the Company and Principals' interest in terms of security against financial loss. It is also ensured that as per the terms of the management agreement the Company is named as co-assured in all insurance policies in case coverage are arranged by the Principals.