This covers loss or damage to the carrying vessel, machinery and third party liability due to the following:

• Perils of the seas, jettison, piracy, negligence of the masters, officers and crew.
  
• Accident in loading, discharging or shifting cargo or fuel.
  
• Fire and explosion
  
• Earthquake and volcanic eruption
  
• Violent theft by person outside the vessel
  
• Busting of boilers, breakage of shafts or any latent defeat in the machinery or vessel.