EXCLUSION CLAUSE IN INSURANCE POLICY

QUERY FROM DONAT
Clause in insurance policy

I, issuing bank, received insurance policy issued on may 6, 2008 to cover shipment with on board date may 7, 2008. The insurance policy stated the following clause: 'subject to no known loss prior to may 12, 2008'. May that clause be reason of discrepancy? i am waiting for your comments.

Ciao.

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MR. OLD MAN’S COMMENT
Not discrepant

Hi,

The exclusion clause looks unusual really. But you’ll find no good reason to reject the insurance policy it as it is quite complying with UCP 600 Article 28 (i) or even (h).

Further comments are appreciated.

Best regards,
Nguyen Huu Duc …