The assured may claim compensation for unrepaired damage from his hull insurer as per Cl. 12-2. There are no similar provisions of Chapter 16 whereby the assured may claim compensation based on an estimate of lost time. The loss of hire insurance will only cover time that has actually been lost. In line with this, the assured may not transfer his potential loss of hire claim to a new owner in connection with a sale of the vessel, cf. Cl. 16-15 sub-clause 3.
If the assured should get compensation from his hull insurer for unrepaired damage either by way of a compromise or pursuant to Cl. 12-2, the assured will still be entitled to compensation for actual loss of time caused by the casualty. If for example the vessel has grounded the time from the grounding to the vessel has been refloated and necessary temporary repairs have been conducted will be recoverable. If the assured does not carry out repairs, the loss of time may be so short that it does not exceed the deductible period, Cl. 16-7, see below under 6. Loss caused by the decision to postpone repairs will not be recoverable if the assured should elect at a later stage to repair the vessel, the actual time lost in connection with the repairs will be recoverable. When postponing repairs, Cl. 16-14 might limit the assured’s right to recovery, see below under 7.4.3.