Section 6 Disclosure and alteration of risk

10.6.1 The Club requires full information about the risk

This provision codifies the provisions under Swedish Insurance law that require the insured to make full disclosure, before the contract is concluded, of all circumstances which be of relevance in assessing the risk, and, after the contract has been entered into, inform the Club of any changes which might alter the assessment of that risk. Failure to observe these obligations may result in the Club rejecting or reducing payment of a claim. The Club may further decide whether or not to accept the altered risk against changes in the applicable terms or conditions such as charging additional premium or imposing special conditions. The threshold is generally high and it must be a question of omitting to inform the Club of a clearly relevant circumstance, such as the vessel commencing transit of the Northern Sea Route, i.e. something which materially changes the risk.