Cover on ships or cargo against war risks, derelict mines, torpedoes, bombs etc.. Cover is under the Institute War Clauses (Cargo) and the Institute War and Strikes Clauses (Hulls-Time). Cargo is covered under a voyage policy only while on board the oversea vessel except for restricted cover while in craft. War risks and strikes cover for hulls is on a time policy but cover terminates automatically if there is war between the major powers, or the vessel is requisitioned, otherwise it can be terminated at seven days’ notice. Open covers and floating policies are also subject to seven days’ cancellation. The waterborne agreement brings marine insurance into line with non-marine insurance (i.e. excludes war risks on land-based property). See WAR AND CIVIL WAR EXCLUSION AGREEMENT; WAR RISKS.