Hull & Machinery Insurance Part 2 | Sue & Labour, CTL, Deductibles & Classification | MEO Class 1

Hull & Machinery Insurance Part 2 | Sue & Labour, CTL, Classification & Disbursements Warranty | MEO Class 1 In *Part 2* of our Hull & Machinery Insurance series for *MEO Class 1 Preparation**, we cover some of the most important clauses frequently asked in **MEO Class 1 Orals**, **Marine Insurance**, and **Maritime Law* examinations. This video explains the Duties of the Assured under the Sue and Labour Clause, Navigation Clauses, Classification Requirements, ISM Compliance, Management Clauses, Deductibles, New for Old Principle, Constructive Total Loss (CTL), Freight Waiver, Assignment, and the important Disbursements Warranty. All topics are explained in a simple, exam-focused, and easy-to-understand manner while maintaining the key insurance terminology used in the International Hull Clauses. --- Topics Covered ✔ Sue and Labour Clause (Duty of the Assured) ✔ Navigation Provisions & Breach of Warranty ✔ Continuation of Cover ✔ Classification Society Requirements ✔ ISM Code Compliance ✔ Change of Ownership & Management ✔ Automatic Termination of Insurance ✔ Deductibles Explained ✔ Machinery Damage Deductible ✔ New for Old Principle ✔ Bottom Treatment Clause ✔ Crew Wages & Maintenance ✔ Unrepaired Damage ✔ Constructive Total Loss (CTL) ✔ CTL Threshold – 80% of Insured Value ✔ Freight Waiver Clause ✔ Assignment of Insurance ✔ Disbursements Warranty ✔ Insurance on Profits & Increased Value ✔ Insurance on Premiums ✔ Insurance on Return Premiums ✔ Prevention of Over-Insurance ✔ MEO Class 1 Oral Examination Questions --- Why This Video Is Important Many MEO Class 1 candidates struggle to understand: Constructive Total Loss (CTL) Disbursements Warranty Classification Requirements ISM Compliance Sue and Labour Obligations These topics are regularly asked during oral examinations and are essential for understanding how Hull & Machinery Insurance works in practice. --- Watch Next 📌 Part 3 covers: ✔ War Risk Exclusions ✔ Terrorism Exclusions ✔ Navigating Limits ✔ Recommissioning After Lay-Up ✔ Premium Payment Clauses ✔ 4/4ths Collision Liability ✔ General Average Absorption ✔ Additional Perils ✔ Claims Procedures ✔ Recoveries ✔ Dispute Resolution --- 👍 If this video helps your MEO Class 1 preparation, please Like, Share and Subscribe for more Marine Engineering and Maritime Law content. 📚 MEO Class 1 Preparation | Marine Engineering | Maritime Law | Marine Insurance #MEOClass1 #HullAndMachineryInsurance #MarineInsurance #MaritimeLaw #MarineEngineering #ConstructiveTotalLoss #CTL #SueAndLabour #ClassificationSociety #ISMCode #ShipInsurance #MerchantNavy #MarineEngineer #MarineInsuranceLaw #MEOClass1Orals Search Keywords Hull and Machinery Insurance Part 2, Constructive Total Loss, CTL Explained, Sue and Labour Clause, Disbursements Warranty, Marine Insurance, Maritime Law, MEO Class 1 Preparation, MEO Class 1 Orals, Marine Engineering, Hull Insurance, Classification Society Requirements, ISM Compliance, Ship Insurance, Marine Insurance Explained, Freight Waiver Clause, Assignment Clause, New for Old Principle, Merchant Navy Exam Preparation, Marine Engineer Study Material.