INSURANCE ARBITRATION RULES
Adopted by the Stockholm Chamber of Commerce in force as of 1 April 1999

The Insurance Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce (the Insurance Rules)
aim at rendering the settlement of insurance reinsurance disputes more effective.

The applicability of the Insurance Rules presupposes an agreement to that effect between the parties. Such agreement
to arbitrate could either be included in a contractinsurance policy in the form of an arbitration clauselaid down in a
separate agreement concluded once the dispute has arisen. If the parties so agree the Insurance Rules may also apply in
arbitrations in areas other than insurance.

The Insurance Rules offers flexibility by incorporating both the Rules of the Arbitration Institute of the
Stockholm Chamber of Commerce (the Rules) the Rules for Expedited Arbitrations (the Expedited Rules).
If the parties have not agreed otherwise the latter will apply unless the SCC Institute taking into account the complexity of the case the amount in dispute other circumstances determines that the SCC Rules shall apply.

In addition to offering its accumulated experience in administering international arbitrations the Board of the SCC Institute
when dealing with cases under the Insurance Rules will include members appointed particularly for their experience expertise
in the insurance field.

The Rules of the Arbitration Institute of the Stockholm Chamber of Commerce ("the SCC Rules") Appendix 1 the Rules for Expedited Arbitrations ("the Expedited Rules") Appendix 2 shall apply with the amendments modifications set forth in Articles 2 3 below.

Article 2
The Composition of the Board etc

When hling cases under the Insurance Rules the Board of the SCC Institute shall be composed of eight members who shall be appointed for a period of three years by the Board of Directors of the Stockholm Chamber of Commerce. The Board of Directors of the Stockholm Chamber of Commerce shall appoint a Chairman Vice Chairman among the members of the Board of the SCC Institute. The Chairman Vice Chairman shall be lawyers. Three of the members shall represent the insurance industry three shall represent the policyholders.

The ChairmanVice Chairman two other members shall form a quorum. When a vote is to be taken an equal number of members representing the insurance industry the policyholders respectively shall take part. If no majority is attained the chairman shall cast the deciding vote.

Unless the parties have agreed otherwise the arbitration proceedings shall be conducted in the following manner. The Expedited Rules shall apply unless the SCC Institute taking into account the complexity of the case the amount in dispute other circumstances determines that the Rules shall apply. In the latter case the SCC Institute shall also decide whether the arbitral tribunal shall be composed of onethree arbitrators.