Y2K Partial Exclusion Clause
There is no insurance under this policy in respect of any claim of whatsoever nature which arises directly or indirectly from or consists of the failure of any :
a.Electronic circuit, microchip, integrated circuit, microprocessor, embedded system , hardware,
software, firmware, program, computer, data processing equipment, telecommunication equipment
or systems, or any similar device.
b.Media or systems used in connection with any of the foregoing
Whether the property of the Insured or not, at any time to achieve any or all the purposes and consequential effects intended by the use of any number, symbol or word to denote a date.
Including without limitation, the failure or inability to recognize, capture, save, retain or restore and/or correctly to manipulate, interpret, transmit, return, calculate or process any date, data, information, command, logic or instruction as a result of
i). Recognizing, using or adopting any date, day of the week or period of time, otherwise than as, the
true of correct date, day of the week or period of time.
ii) The operation of any command or logic which has been programmed or incorporated into anything
referred to in (a) or (b) above.
But this extension shall not exclude any claim for subsequent loss or destruction of or damage to any property or consequential loss which itself result from a defined contingency (as defined hereunder) but only to the extent that such claim would otherwise be insured under this policy.
Definition :
For the purpose of this exception only, “defined contingency” shall mean fire, lightning, explosion, aircraft and other aerial devices or articles dropped therefrom, riot, civil commotion, strikers, locked out workers, person taking part in labour disturbances, malicious persons other than thieves, earthquake, storm, flood, escape of water from any tank apparatus or pipe, impact by any road vehicle or animal or theft.
The insurance by this Policy extends to include tenants improvements and alteration to Landlord’s property insofar as the Insured is responsible therefore.
Y2K - LIABILITY
Risks : PLI
The Indemnity will not apply to legal liability
Of whatsoever nature directly or indirectly caused by or constributed to by or arising from the failure of any computer or other equipment or system for processing storing not retrieving data, whether the property of the Insured or not, and whether occurring before, during or after the year 2000
1. Correctly to recognize any date as its true calendar rate.
2. To capture save or retain, and/or correctly to manipulate, interpret or process any data or information or command or instruction as a result of treating any date otherwise as its true calendar date.
3. To capture save retain or correctly to process any data as result of the operation of any command which has been programmed into any computer software being a command which causes th loss of data or the inability to capture save retain or correctly to process such data on or after any date.
WRONGFULL ARREST, EVICTION AND DEFAMATION
Risks : PLI
“notwithstanding anything contained herein to the contrary, this policy is extended to include damages :
a) Resulting from wrongful arrest (including assault inconnection with such wrongful arrest
b) In respect of defamation
Provided that the liability of the Insurer under each of a and b shall be limited to in respect of any one event or series of events with one original cause or source
WORKMEN CLAUSE - IAR
Risks : IAR
Workmen are allowed in and/or about any of the described premises for the purpose of making new erections or alterations, repair, decoration, plant installation, general maintenance and the like without prejudice to the terms and conditions of the Policy.
Workmen are allowed in and/or about any of the described premises for the purpose of making new erections or alterations, repair, decoration, plant installation, general maintenance and the like without prejudice to the terms and conditions of the Policy.
WATER, FLOOD AND FUMES EXTENSION CLAUSE – PLI
Risks : PLI
It is hereby declared and agreed that this policy extends to cover liability arising out of water, flood and fumes
It is hereby declared and agreed that this policy extends to cover liability arising out of water, flood and fumes
WAR AND CIVIL; WAR EXCLUSION CLAUSE
Risks : VAR
Notwithstanding anything to the contrary contained herein this policy does not cover Loss or Damage directly or indirectly occasioned by, happening through or in consequnece of war, invasion, acts of foreign enemies, hostilities, or war like operations (whether war be declared or not), civil war, insurrection / popular rising, rebellion, revolution, military or ursurped power or confiscation or nationalism or requisition or destruction of or damage to property by or under the order of any government or public or local authority.
WAIVER OF SUBROGATION
Risks : VAR
In the event of claim arising under this policy it is agreed that the Company waives all rights, remedies or relief to which it might become entitled by subrogation against any of parties comprising the Insured herein.
In the event of claim arising under this policy it is agreed that the Company waives all rights, remedies or relief to which it might become entitled by subrogation against any of parties comprising the Insured herein.
Clause 19.2A - Vibration, Subsidence Collapse, Weakening of Support Clause – CEAR
Risks : CEAR
It is agreed that the Insurance by this section extends to include all sums which the Insured shall become legally liable to pay in connection with damage to property other than property insured under section 1 caused by collapse, subsidence, vibration, weakening or removal of support of lowering of ground water arising out of or in the course of or by reason of the carrying out to the Insured Contracts. 1. Caused by the negligence, omission or default of the Contractor, his servants or agents or any of their Co-Contractors, Sub-Contractors and Suppliers their servants or agents. 2. Attributable to errors or omission in the designing of the work.
It is agreed that the Insurance by this section extends to include all sums which the Insured shall become legally liable to pay in connection with damage to property other than property insured under section 1 caused by collapse, subsidence, vibration, weakening or removal of support of lowering of ground water arising out of or in the course of or by reason of the carrying out to the Insured Contracts. 1. Caused by the negligence, omission or default of the Contractor, his servants or agents or any of their Co-Contractors, Sub-Contractors and Suppliers their servants or agents. 2. Attributable to errors or omission in the designing of the work.
VEHICLE LOAD CLAUSE - IAR
Risks : IAR
In the event of the Insured’s Property being left loaded in Vehicles or freight containers overnight while in, on or about the premises hereby insured the Insurer will indemnify the Insured for the loss of or damage to such Property caused by fire or any other peril insured hereby, provided always that the Insurer’s Liability shall not exceed the sum insured of Property under the Policy.
In the event of the Insured’s Property being left loaded in Vehicles or freight containers overnight while in, on or about the premises hereby insured the Insurer will indemnify the Insured for the loss of or damage to such Property caused by fire or any other peril insured hereby, provided always that the Insurer’s Liability shall not exceed the sum insured of Property under the Policy.
VALUABLE PAPERS AND RECORDS - IAR
This Policy is extended to cover computers system records including software, documents, manuscripts, valuable papers, securities, deeds micro-inscribed documents, specifications, plans, maps, films, mortgages, abstract, drawing, designs, books, business books, media and the data recorded thereib abd other records if every description, the cost and expenses of reinstating replacing reproducing or restoring the same, including :
a. The cost of gathering and/or assembling and/or researching the information
b. Information contained therein or thereon
But excluding the value to the Insured of the said information or, if such is note requires, the replacement cost of materials as blank stationary at the time and place of the Damage.
“Valuable Papers and Records” is defined as written, printed or otherwise inscribed documents and records including but not limited to books, maps, films, drawings, abstracts, deeds, mortgages, micro inscribed documents, manuscripts, and media and the date records thereon but not including money and/or securities.
“Media” is defined as materials upon which data is recorded including but not limited to paper tapes, cards, electronic memory circuits and magnetic or optical storage devices.
“Data” is defined as facts, concepts or instructions in a form usable for communications, interpretation or processing by automatic means and includes computer program.
“Securities” is defined as all negotiable and non-negotiable instruments or contracts representing either money or other property and includes revenue and other stamps in current use, tokens and ticket but does not include money.
UNLICENSED VEHICLE CLAUSE - PLI
Risks : PLI
It is hereby understood and agreed that this policy extends to indemnify the Insured for claims in respect of bodily injury or damages to the property arising out of the use of vehicles (not licensed for public road) in and around the premises for the purpose of property maintenance and repair.
It is hereby understood and agreed that this policy extends to indemnify the Insured for claims in respect of bodily injury or damages to the property arising out of the use of vehicles (not licensed for public road) in and around the premises for the purpose of property maintenance and repair.
TRANSMISSION AND DISTRIBUTION LINES EXCLUSION CLAUSE
All Transmission and distribution lines, including wire, cable, poles, pylons, standard towers and any equipment of any type of which may be attendant to such installation of any description. This exclusion includes but is not limited to transmission or distribution of electrical power, telephone or telegraph signal and all communication signal whether audio or visual.
This exclusion applies to both above and below ground equipment except that which is within 1,000 meters of the insured’s premises or as defines in the Insurer’s policy(ies)
This exclusion applies both to physical or damage to the equipment and all business interruption, consequential loss and/or other contingent losses related to transmission and distribution lines.
Another Version
This Insurance does not cover any loss, damage, costs or expense to any type pf above ground conductors for the transmission or distribution of electrical energy. Telephone, or telegraphic signals, and all communication signal whether audio or visual including wire, cable, poles, scaffolding, pylons, and masts or any property forming part thereof or connected therewith and including substations and transformer stations other than those on or within 300 meters of the insured premises.
It is however understood and agreed that this exclusions shall not apply to contingent business interruption coverage including public utilities extensions and/or suppliers extensions, provided that those are not part of a suppliers’ or distributors’ policy.
Thirty (30) Days Cancellation Notice Clause
Risks : VAR
Both the Insurer and the Insured are entitled to terminate this insurance upon thirty (30) days notice in writing being given. Such termination should be effected to the registered letter and the Insured entitle to a pro-rata return premium for the unexpired period of Insurance.
Both the Insurer and the Insured are entitled to terminate this insurance upon thirty (30) days notice in writing being given. Such termination should be effected to the registered letter and the Insured entitle to a pro-rata return premium for the unexpired period of Insurance.
THEFT EXTENSION MEMO
Risks : BT, TI, IAR
It is hereby noted and agreed that in consideration of the Insured having paid an additional premium, this policy shall be extended to cover loss and/or damage to the insured property caused by Theft without any visible violent or forcible entry to the insured premises, provided always that this endorsement shall be deemed to exclude property stored in the open air.
It is hereby noted and agreed that in consideration of the Insured having paid an additional premium, this policy shall be extended to cover loss and/or damage to the insured property caused by Theft without any visible violent or forcible entry to the insured premises, provided always that this endorsement shall be deemed to exclude property stored in the open air.
TERRORISM EXCLUSION ENDORSEMENT (NMA 2920)
Risks : IAR
Notwithstanding any provision to the contrary within this insurance or any endorsement thereto, it is agreed that this insurance exclude loss, damage, cost of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss.
For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group (s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.
This endorsement also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, surpressing or in any way relating to any act of terrorism.
If the Underwriters allege that by reasins of this exclusion, any loss, damage, cost or expense is not covered by this insurance the burden of proving the contrary shall be upon the Assured.
In the event any portion of this endorseement is found to be valid or unenforceable, the remainder shall remain in full force and effect.
NMA 2920
08/10/2001
TENANTS IMPROVEMENT CLAUSE – IAR
Risks : IAR
TENANTS IMPROVEMENTS CLAUSE The insurance by this Policy extends to include tenants improvements and alteration to Landlord’s property insofar as the Insured is responsible therefore..
TENANTS IMPROVEMENTS CLAUSE The insurance by this Policy extends to include tenants improvements and alteration to Landlord’s property insofar as the Insured is responsible therefore..
TEMPORARY REMOVAL – IAR
Risks : IAR
TEMPORARY REMOVAL CLAUSE It is hereby agreed that the property insured by this Policy (other than any stock in trade or merchandise) is covered in respect of the perils hereby insured against whilst temporarily removed for cleaning, renovation, repair or other similar purposes, elsewhere on the same premises or any other premises in the Republic of Indonesia and in transit thereto and therefrom by road. Provided always that: 1. The amount recoverable under this Extension in respect of each item of this Policy shall not exceed the amount which would have been recoverable …the loss occurred in that part of the premises from which the property temporarily removed nor, in respect of any loss occurring elsewhere than …the said premises, 10% of the sum insured by this Policy after deductible therefrom the value of any building (exclusive of fixtures and fittings) stock in trade or merchandise hereby insured. 2. This extension does not apply to property if and so far as it is otherwise insured. 3. As regards losses occurring elsewhere than at the premises from which the property is temporarily removed to: a. motor vehicles and motor chassis licensed for normal road use b. property held by the Insured in trust, other than machinery and plant This clause is subject otherwise to all the terms and conditions of the Policy to which it is attached.
TEMPORARY REMOVAL CLAUSE It is hereby agreed that the property insured by this Policy (other than any stock in trade or merchandise) is covered in respect of the perils hereby insured against whilst temporarily removed for cleaning, renovation, repair or other similar purposes, elsewhere on the same premises or any other premises in the Republic of Indonesia and in transit thereto and therefrom by road. Provided always that: 1. The amount recoverable under this Extension in respect of each item of this Policy shall not exceed the amount which would have been recoverable …the loss occurred in that part of the premises from which the property temporarily removed nor, in respect of any loss occurring elsewhere than …the said premises, 10% of the sum insured by this Policy after deductible therefrom the value of any building (exclusive of fixtures and fittings) stock in trade or merchandise hereby insured. 2. This extension does not apply to property if and so far as it is otherwise insured. 3. As regards losses occurring elsewhere than at the premises from which the property is temporarily removed to: a. motor vehicles and motor chassis licensed for normal road use b. property held by the Insured in trust, other than machinery and plant This clause is subject otherwise to all the terms and conditions of the Policy to which it is attached.
Suppliers and Customers Extension Clause – IAR
Risks : IAR
Subject to the terms, conditions and exclusions of the policy, loss resulting from interruption of or interference with the Business in consequence of Damage to : a. property of suppliers, manufactures or processors of components, goods, materials, suppliers of service or other facilities and their suppliers. b. Property of customers c. Property whilst in transit by road, rail or inland waterway. Anywhere in the World is regarded as due to the insured Events insured by the Specification shall be deemed to be the loss resulting from Damage to property of the Insured.
Subject to the terms, conditions and exclusions of the policy, loss resulting from interruption of or interference with the Business in consequence of Damage to : a. property of suppliers, manufactures or processors of components, goods, materials, suppliers of service or other facilities and their suppliers. b. Property of customers c. Property whilst in transit by road, rail or inland waterway. Anywhere in the World is regarded as due to the insured Events insured by the Specification shall be deemed to be the loss resulting from Damage to property of the Insured.
SUE AND LABOUR CLAUSE – PLI, CEAR
Risks : PLI, CEAR, MARINE CARGO
In case of actual or imminent, with prior notice to and approval from the Insurers, loss or damage, it shall be lawful and necessary for the Insured, his or their factors, servants or assign to use, labor and travel for, in and about the defense, safeguard and recovery of the property insured hereunder, or any part thereof without prejudice to this insurance, nor shall the acts of the insured or the insurers in recovering, saving and preserving the insured property in case of loss or damage, be considered a waiver or abandonment, to the charge whereof, the Insurers will contribute according to the rate and quantity of the sum herein insured.
In case of actual or imminent, with prior notice to and approval from the Insurers, loss or damage, it shall be lawful and necessary for the Insured, his or their factors, servants or assign to use, labor and travel for, in and about the defense, safeguard and recovery of the property insured hereunder, or any part thereof without prejudice to this insurance, nor shall the acts of the insured or the insurers in recovering, saving and preserving the insured property in case of loss or damage, be considered a waiver or abandonment, to the charge whereof, the Insurers will contribute according to the rate and quantity of the sum herein insured.
SUDDEN AND/OR ACCIDENTAL POLLUTION CLAUSE – PLI
Risks : PLI
It is explicitly agreed and noted that this policy applies to cover bodily injury or property damage arising out of such pollution caused by a sudden, unintended and unexpected happening.
It is explicitly agreed and noted that this policy applies to cover bodily injury or property damage arising out of such pollution caused by a sudden, unintended and unexpected happening.
SUBSIDENCE AND LANDSLIDE CLAUSE
It is hereby noted and agreed that, this policy shall also cover the peril of subsidence, landslip or landslide except:
Subsidence, landslip or landslide caused by:
- faulty construction of the building or structure
- faulty design of the building or structure
- soil damage due to human action
- nuclear reaction.
STRUCTURAL ALTERATIONS – IAR
Risks : IAR
It is hereby noted and agreed, that the structural alteration and extension of the buildings mentioned in this Policy is allowed, as are the erection of new building, installation, reinstallation, replacement of machines, tools, implements, piping or other installation and objects as well as to move all these within the premises. In case of removal or demolition of an insured object this insurance will cover the new items substituting the removed or demolished objects up to the original amount insured.
It is hereby noted and agreed, that the structural alteration and extension of the buildings mentioned in this Policy is allowed, as are the erection of new building, installation, reinstallation, replacement of machines, tools, implements, piping or other installation and objects as well as to move all these within the premises. In case of removal or demolition of an insured object this insurance will cover the new items substituting the removed or demolished objects up to the original amount insured.
STOCK DECLARATION CLAUSE – IAR – STOCK ADJUSTABLE
Risks : IAR –
STOCK ADJUSTABLE
1. In consideration of the premium by this policy being provisional in that it is calculated on 75 % of the sum insured hereby and is subject to adjustment on expiry of each period of insurance : The Insured agrees to declare to the Insurer in writing the value of his stocks (other than retail), less any amount insured by Policies other than declaration policies, on the following basis namely the average of the values at risk during the month and to make such declaration within thirty days of the last day of the calendar month, such declaration to be signed by the Insured or by a responsible person authorized to sign on his behalf. If other policies on a declaration basis cover the stocks hereby insured the declaration shall be made so as to apportion to each policy a share of the value of the stocks insured under such declaration policies, pro rata to the respective amounts named in the policies. In the event of a declaration not being made within the 30 days mentioned above then the Insured shall be deemed to have declared the sum hereby as the value at risk. On the expiry of each period of insurance the premium shall be calculated at the rate quoted on the average sum insured, namely the total of the values declared or deemed to have been declared divided by the number of declarations due to have been made. If the resultant premium be greater than the provisional premium the Insured shall pay the difference, if it be less the difference shall be repaid to the Insured but such repayment shall not exceed one third of the provisional premium. 2. The basis of value for declarations shall be the market value and any loss hereunder shall be settled on the basis of the market value immediately anterior to the loss. 3. If at the time of any loss, there be any other subsisting insurance or insurances on other than a declaration basis, whether effected by the Insured or by any other person or persons, covering the stocks hereby insured, this Policy shall apply only to the excess of the value of such stocks at the time of loss over the sum insured by such insurance or insurances, and this Insurer shall not be liable to contribute more than that proportion of such loss which such excess (or, if there be other declaration insurances covering the same stock, a rateable proportion of such excess), but not exceeding the sum insured hereby, bears to the total value of the stocks. 4. If after the occurrence of a loss it is found that the amount of the last declaration previous to the loss is less than the amount that ought to have been declared, then the amount which would have been recoverable by the Insured shall be reduced in such proportion to the amount of the said last declaration bears to the amount that ought to have been declared. 5. Notwithstanding the occurrence of a loss it is understood that the sum insured will be maintained at all times during the currency of the Policy and the Insured therefore undertakes to pay extra premium on the amount of any loss pro rata from the date of such loss to the expiry of the period of occurrence, the premium being calculated at the rate applicable to the stock destroyed and such extra premium shall not be taken into account in, and shall be distinct from, the final adjustment of premium. 6. In the event of this Policy being cancelled by the Insured during its currency (Whether stocks exist or not) the premium to be retained by the Insurer shall be the appropriate short period premium calculated on the average amount insured up to the date of cancellation, or 50 % of the provisional premium whichever is the greater but if the Policy is cancelled by the Insured after loss has occurred the premium to be retained by the Insurer shall be the pro rata proportion of the premium calculated on the average amount insured on the date of cancellation plus the pro rata proportion if the premium from the date of loss to the expiry of the period of Insurance on the amount of the loss paid, or 50 % of the provisional premium whichever is the greater. 7. The maximum liability of the Insurer shall not exceed the sum insured hereby and premium shall not be receivable on values insured thereof. The sum insured may, however, be increased by prior agreement with the Insurer in which event the new sum insured and the date from which it is effective will be recorded on the Policy by endorsement. 8. If the stocks hereby insured shall at the time of loss be collectively of greater value than the sum insured thereon, then the Insured shall be considered as being his own insurer for the difference and shall bear a rateable proportion of the loss accordingly. Every time, if more than one Sum Insured exist on stocks (other than retail) it shall be separately subject to this condition. 9. It is warranted that every other Policy on a declaration basis covering the stocks insured hereby shall be identical in wording with the Policy. This insurance is subject in all respect to the printed conditions of the Policy except in so far as they may be varied by these every
STOCK ADJUSTABLE
1. In consideration of the premium by this policy being provisional in that it is calculated on 75 % of the sum insured hereby and is subject to adjustment on expiry of each period of insurance : The Insured agrees to declare to the Insurer in writing the value of his stocks (other than retail), less any amount insured by Policies other than declaration policies, on the following basis namely the average of the values at risk during the month and to make such declaration within thirty days of the last day of the calendar month, such declaration to be signed by the Insured or by a responsible person authorized to sign on his behalf. If other policies on a declaration basis cover the stocks hereby insured the declaration shall be made so as to apportion to each policy a share of the value of the stocks insured under such declaration policies, pro rata to the respective amounts named in the policies. In the event of a declaration not being made within the 30 days mentioned above then the Insured shall be deemed to have declared the sum hereby as the value at risk. On the expiry of each period of insurance the premium shall be calculated at the rate quoted on the average sum insured, namely the total of the values declared or deemed to have been declared divided by the number of declarations due to have been made. If the resultant premium be greater than the provisional premium the Insured shall pay the difference, if it be less the difference shall be repaid to the Insured but such repayment shall not exceed one third of the provisional premium. 2. The basis of value for declarations shall be the market value and any loss hereunder shall be settled on the basis of the market value immediately anterior to the loss. 3. If at the time of any loss, there be any other subsisting insurance or insurances on other than a declaration basis, whether effected by the Insured or by any other person or persons, covering the stocks hereby insured, this Policy shall apply only to the excess of the value of such stocks at the time of loss over the sum insured by such insurance or insurances, and this Insurer shall not be liable to contribute more than that proportion of such loss which such excess (or, if there be other declaration insurances covering the same stock, a rateable proportion of such excess), but not exceeding the sum insured hereby, bears to the total value of the stocks. 4. If after the occurrence of a loss it is found that the amount of the last declaration previous to the loss is less than the amount that ought to have been declared, then the amount which would have been recoverable by the Insured shall be reduced in such proportion to the amount of the said last declaration bears to the amount that ought to have been declared. 5. Notwithstanding the occurrence of a loss it is understood that the sum insured will be maintained at all times during the currency of the Policy and the Insured therefore undertakes to pay extra premium on the amount of any loss pro rata from the date of such loss to the expiry of the period of occurrence, the premium being calculated at the rate applicable to the stock destroyed and such extra premium shall not be taken into account in, and shall be distinct from, the final adjustment of premium. 6. In the event of this Policy being cancelled by the Insured during its currency (Whether stocks exist or not) the premium to be retained by the Insurer shall be the appropriate short period premium calculated on the average amount insured up to the date of cancellation, or 50 % of the provisional premium whichever is the greater but if the Policy is cancelled by the Insured after loss has occurred the premium to be retained by the Insurer shall be the pro rata proportion of the premium calculated on the average amount insured on the date of cancellation plus the pro rata proportion if the premium from the date of loss to the expiry of the period of Insurance on the amount of the loss paid, or 50 % of the provisional premium whichever is the greater. 7. The maximum liability of the Insurer shall not exceed the sum insured hereby and premium shall not be receivable on values insured thereof. The sum insured may, however, be increased by prior agreement with the Insurer in which event the new sum insured and the date from which it is effective will be recorded on the Policy by endorsement. 8. If the stocks hereby insured shall at the time of loss be collectively of greater value than the sum insured thereon, then the Insured shall be considered as being his own insurer for the difference and shall bear a rateable proportion of the loss accordingly. Every time, if more than one Sum Insured exist on stocks (other than retail) it shall be separately subject to this condition. 9. It is warranted that every other Policy on a declaration basis covering the stocks insured hereby shall be identical in wording with the Policy. This insurance is subject in all respect to the printed conditions of the Policy except in so far as they may be varied by these every
SRCC
Risks : PA
It is hereby declared and agreed that subject to its terms limitations and conditions the within policy is extended to cover the insured against death or disablement directly or indirectly caused by riots and civil commotion, murder and assault (other than provoked assault) provided that the insured is not voluntarily engaged in riots and civil commotion or political demonstrations.
It is hereby declared and agreed that subject to its terms limitations and conditions the within policy is extended to cover the insured against death or disablement directly or indirectly caused by riots and civil commotion, murder and assault (other than provoked assault) provided that the insured is not voluntarily engaged in riots and civil commotion or political demonstrations.
SRCC – MONEY INSURANCE
Risks : MI
STRIKE, RIOT AND CIVIL COMMOTION CLAUSE
It is agreed and understood that otherwise, subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this policy shall be extended to cover loss or damage due to strike, riot and civil commotion which for the purpose of this endorsement shall mean (subject always to the special conditions hereinafter contained) loss of or damage to the property insured directly caused by : 1. The act of any person taking part together with others in any disturbances of the public peace (whether in connection with a strike or lock-out or not) 2. The action of any lawfully constituted authority in suppressing or attempting to suppress any such disturbance or in minimizing the consequences of any such disturbance. 3. The willful act of any striker or locked-out worker done in furtherance of a strike or in resistance to lock-out. 4. The action of any lawfully constituted authority in preventing or attempting to prevent any such act or in minimizing the consequences of any such act. Provided that it is hereby further expressly agreed and declared that: 1. All the terms, exclusions, provisions and conditions of the Policy shall apply in all respects to the Insurance granted by this extension save in so far as the same are expressly varied by the following special conditions and any reference to loss or damage in the wording of the Policy shall be deemed to include the perils hereby insured against. 2. The following special conditions shall apply only to the insurance granted by this extension and the wording of the Policy shall apply in all respects to the insurance granted by the Policy as if this Endorsement had not been made thereon.
STRIKE, RIOT AND CIVIL COMMOTION CLAUSE
It is agreed and understood that otherwise, subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this policy shall be extended to cover loss or damage due to strike, riot and civil commotion which for the purpose of this endorsement shall mean (subject always to the special conditions hereinafter contained) loss of or damage to the property insured directly caused by : 1. The act of any person taking part together with others in any disturbances of the public peace (whether in connection with a strike or lock-out or not) 2. The action of any lawfully constituted authority in suppressing or attempting to suppress any such disturbance or in minimizing the consequences of any such disturbance. 3. The willful act of any striker or locked-out worker done in furtherance of a strike or in resistance to lock-out. 4. The action of any lawfully constituted authority in preventing or attempting to prevent any such act or in minimizing the consequences of any such act. Provided that it is hereby further expressly agreed and declared that: 1. All the terms, exclusions, provisions and conditions of the Policy shall apply in all respects to the Insurance granted by this extension save in so far as the same are expressly varied by the following special conditions and any reference to loss or damage in the wording of the Policy shall be deemed to include the perils hereby insured against. 2. The following special conditions shall apply only to the insurance granted by this extension and the wording of the Policy shall apply in all respects to the insurance granted by the Policy as if this Endorsement had not been made thereon.
SPRINKLER LEAKAGE CLAUSE – IAR
Risks : IAR
It is hereby agreed and declared that the insurance under the policy shall extend to cover loss or damage to the property insured caused by water accidentally discharged or leaking from the Automatic Sprinkler Installation subject to First Loss Sum Insured and subject to a deductible of any one location and further subject to all the usual conditions of the policy and the following special conditions : 1.The liability if the company shall in no case under this endorsement and the policy exceed the sum insured by each item of the policy. 2.Further provided that such discharge or leakage of water shall not be occasioned by or happen trough : A.Repairs or alteration to the buildings or premises B.The automatic sprinkler installation being either repaired, removed or extended. C.The order of the Government or of any municipal local or other competent Authority D.Defects in construction or condition of which the insured is aware. E. Condensation or deposits on the Automatic Sprinkler Installation.
It is hereby agreed and declared that the insurance under the policy shall extend to cover loss or damage to the property insured caused by water accidentally discharged or leaking from the Automatic Sprinkler Installation subject to First Loss Sum Insured and subject to a deductible of any one location and further subject to all the usual conditions of the policy and the following special conditions : 1.The liability if the company shall in no case under this endorsement and the policy exceed the sum insured by each item of the policy. 2.Further provided that such discharge or leakage of water shall not be occasioned by or happen trough : A.Repairs or alteration to the buildings or premises B.The automatic sprinkler installation being either repaired, removed or extended. C.The order of the Government or of any municipal local or other competent Authority D.Defects in construction or condition of which the insured is aware. E. Condensation or deposits on the Automatic Sprinkler Installation.
SPONTANEOUS COMBUSTION CLAUSE – IAR - STOCK
Risks : IAR - STOCK
It is hereby agreed and declared that this insurance covers loss of or damage to the insured property caused by its own spontaneous combustion, notwithstanding anything stated to the contrary on the printed conditions of the policy.
It is hereby agreed and declared that this insurance covers loss of or damage to the insured property caused by its own spontaneous combustion, notwithstanding anything stated to the contrary on the printed conditions of the policy.
SPOILAGE COVER EXTENSION – MB
Risks : MB
It is hereby noted and agreed tha in the event of a recoverable loss under this policy, the liability shall extend to include any loss or damage to the stock in process subject to the terms and conditions of the policy.
It is hereby noted and agreed tha in the event of a recoverable loss under this policy, the liability shall extend to include any loss or damage to the stock in process subject to the terms and conditions of the policy.
SPECIAL, ELECTRICAL SHORT CIRCUIT COVERAGE – IAR
Risks : IAR
It is hereby expressly understood and agreed that in consideration of the payment of an additional premium as arranged, this policy also covers loss or damage to any generator, motor, transformers, and/or any other electrical machine and/or electrical installation cause by short circuit and self heating.
It is hereby expressly understood and agreed that in consideration of the payment of an additional premium as arranged, this policy also covers loss or damage to any generator, motor, transformers, and/or any other electrical machine and/or electrical installation cause by short circuit and self heating.
SPECIAL CONDITION CONCERNING X-RAYS FILMS - EEI
Risks : EEI
SPECIAL CONDITION CONCERNING X-RAYS FILMS (EEI) It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, the Insurers shall not indemnify the Insured in respect of any costs incurred in connection with any loss of or damage to films used for X-ray equipment unless such loss or damage arises in direct consequence of an indemnifiable loss of or damage to the X-ray film cassettes.
SPECIAL CONDITION CONCERNING X-RAYS FILMS (EEI) It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, the Insurers shall not indemnify the Insured in respect of any costs incurred in connection with any loss of or damage to films used for X-ray equipment unless such loss or damage arises in direct consequence of an indemnifiable loss of or damage to the X-ray film cassettes.
SPECIAL CONDITION CONCERNING WAIVER OF SUBROGATION- EEI
Risks : EEI
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, the Insurers shall waive all rights of subrogation arising out of loss or damage indemnifiable under the Policy which the insurers may have against persons using the insured items with the consent of the Insured.
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, the Insurers shall waive all rights of subrogation arising out of loss or damage indemnifiable under the Policy which the insurers may have against persons using the insured items with the consent of the Insured.
SPECIAL CONDITION CONCERNING OBSOLETE EQUIPMENT - EEI
Risks : EEI
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the Insurer’s liability in respect of electronic data processing equipment the manufacture of which has been discontinued, or for which spare parts are no longer available (obsolete equipment), shall be restricted to the period of business interruption which would arise if a current model or type of data processing system of equal performance had to be repaired or replaced.
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the Insurer’s liability in respect of electronic data processing equipment the manufacture of which has been discontinued, or for which spare parts are no longer available (obsolete equipment), shall be restricted to the period of business interruption which would arise if a current model or type of data processing system of equal performance had to be repaired or replaced.
Special Condition Concerning EDP Equipment Insured in connection Hire/Lease contract - EEI
Risks : EEI
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the following shall apply in respect of EDP equipment insured under a separate policy in connection with a hire or lease contract: Section 2 and/or 3 of the Policy shall be read as if the EDP equipment were insured under Section 1 of the Policy. This shall apply only up to the actual extent of cover provided by the separate policy, but in no case beyond the cover given under Section 1 of the Policy.
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the following shall apply in respect of EDP equipment insured under a separate policy in connection with a hire or lease contract: Section 2 and/or 3 of the Policy shall be read as if the EDP equipment were insured under Section 1 of the Policy. This shall apply only up to the actual extent of cover provided by the separate policy, but in no case beyond the cover given under Section 1 of the Policy.
SEVERAL LIABILITY CLAUSE - MCARGO
The subscribing insurers’ obligations under policies to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing insurers are not responsible for the subscription of any co-subscribing insurer who for any reason does not satisfy all or part of its obligations.
SEVENTY TWO (72) HOURS CLAUSE – IAR, CEAR
Risks : IAR, FIRE
It is agreed that any loss or damage to the Insured Property arising during any one period of seventy two (72) consecutive hours, caused by windstorm tempest flood or earthquake shall be deemed as a single event and therefore to constitute one occurrence with regard to the Deductibles provided for herein, for the purposes of the foregoing the commencement of any such seventy two (72) hours period shall be decided at the discretion of the Insured it being understood and agreed, however, that there shall be no overlapping in any two or more such seventy two (72) hours period in the event of damage occurring over a more extended period of time. OTHER VERSIONS: All insured losses which occur during a period of 72 consecutive hours caused by: a. Earthquake, earth tremor, seaquake, tidal wave or any other loss form seismic activity insured under this policy b. Volcanic Eruption c. Hurricane, typhoon, tornado, windstorm, wind driven water or wind peril insured under this policy d. Flood Shall be deemed a single loss occurrence for the purpose of this insurance. Any such event which continues 72 consecutive hours shall be deemed two or more events. The Insured may choose the date and time when each loss period of 72 hours shall commence provided that : 1. This is not earlier than the first recorded loss sustained by the Insured 2. The date of commencements falls within the period of insurance 3. No two or more period of 72 hours shall overlap.
It is agreed that any loss or damage to the Insured Property arising during any one period of seventy two (72) consecutive hours, caused by windstorm tempest flood or earthquake shall be deemed as a single event and therefore to constitute one occurrence with regard to the Deductibles provided for herein, for the purposes of the foregoing the commencement of any such seventy two (72) hours period shall be decided at the discretion of the Insured it being understood and agreed, however, that there shall be no overlapping in any two or more such seventy two (72) hours period in the event of damage occurring over a more extended period of time. OTHER VERSIONS: All insured losses which occur during a period of 72 consecutive hours caused by: a. Earthquake, earth tremor, seaquake, tidal wave or any other loss form seismic activity insured under this policy b. Volcanic Eruption c. Hurricane, typhoon, tornado, windstorm, wind driven water or wind peril insured under this policy d. Flood Shall be deemed a single loss occurrence for the purpose of this insurance. Any such event which continues 72 consecutive hours shall be deemed two or more events. The Insured may choose the date and time when each loss period of 72 hours shall commence provided that : 1. This is not earlier than the first recorded loss sustained by the Insured 2. The date of commencements falls within the period of insurance 3. No two or more period of 72 hours shall overlap.
SERVICE CLAUSE – IAR, FIRE
Risks : IAR, FIRE
The Insurance by this policy relating to ‘machinery’ and ‘equipment’ extends to include telephone, gas, water and electric instruments, maters, piping, cabling and the like and accessories thereof including similar property in adjoining yards or roadways or underground all the property of the insured or of suppliers or others for which the insured are responsible.
The Insurance by this policy relating to ‘machinery’ and ‘equipment’ extends to include telephone, gas, water and electric instruments, maters, piping, cabling and the like and accessories thereof including similar property in adjoining yards or roadways or underground all the property of the insured or of suppliers or others for which the insured are responsible.
SELLING PRICE – IAR, FIRE
Risks : IAR, FIRE
It is noted and agreed that in respect of goods sold but not yet delivered for which the Insured is responsible and with regard to which under the written or printed conditions of sale the Sale Contract is cancelled by reason of the loss or damage indemnified by this Policy either wholly or to the extent of the loss or damage, the liability of the Insurer shall be based on the contract price, and for the purpose of average the value of all goods, to which this clause would in the event of loss or damage be applicable shall be ascertained on the same basis.
It is noted and agreed that in respect of goods sold but not yet delivered for which the Insured is responsible and with regard to which under the written or printed conditions of sale the Sale Contract is cancelled by reason of the loss or damage indemnified by this Policy either wholly or to the extent of the loss or damage, the liability of the Insurer shall be based on the contract price, and for the purpose of average the value of all goods, to which this clause would in the event of loss or damage be applicable shall be ascertained on the same basis.
REPLACEMENT CLAUSE SECOND-HAND MACHINERY
In the event of loss of or damage to any part or parts of the goods insured in
consequence of a risk covered by the policy, the amount recoverable hereunder shall not
exceed such proportion of the cost of replacement of the part lost or damaged as the
insured value bears to the value of new machinery, plus additional charges for
forwarding and re-fitting the new part or parts if incurred.
SANCTION LIMITATION AND EXCLUSION
No Insurer shall be deemed to provide cover and no insurer shall be liable to pay and any claim or provide any benefit hereunder to the extent that the provision of such covers, payment of such claim or provision of such benefit would explore the insurer to any sanction, prohibition or restriction under United Nation Resolutions or the trade or economic sanctions, laws, or regulations of the European Union, United Kingdom or united States of America
SALVAGE SALE - BI
Risks : BI
If, following any incident giving rise to a claim under this policy, the Insured shall hold a salvage sale during the indemnity period, clause (a) of the item on Gross Profit shall, for the purpose of such claim, read as follows:
(a) In respect of Reduction in Turnover : the sum produced by applying the Rate
of Gross Profit to the amount by which the Turnover during the indemnity period (less the
Turnover for the period of the salvage sale) shall, in consequence of the incident, fall
short of the Standard Turnover, from which sum shall be deducted the Gross Profit
actually earned during the period of the salvage sale.
ROAD RISKS CLAUSE
It is hereby noted and agreed that the policy is extended to cover loss and/or damaged to the unit during the cargo or unit movement by its own power and/or self-driven with sub limit USD. ……
RETURNED SHIPMENTS CLAUSE
This Policy of insurance is extended to cover, at Policy terms and conditions, shipments of returned goods which have not been delivered to the final consignee and which have been continuously covered hereunder, provided such goods remain in their original approved overseas packing and the Assured warrants to report all such shipments as soon as practicable after they have knowledge of the refusal.
Shipments returned to the Assured by the consignee shall be subject to the same terms, conditions and rate under which such shipments were insured under this policy while in transit to such consignees.
Returned merchandise other than as defined above is insured subject to the Institute Cargo Clauses ( C ) CL 254 dated 1.1.82 at rates to be agreed by Underwriters.
The Return of Premium Clause (1/3 Premium) - BI
Risks : BI
If the Insured declares at the latest six months after the expiry of any policy year that the Gross Profit earned during the accounting period of twelve months most nearly concurrent with any period of insurance, as certified by the Insured’s auditors, was less than the sum insured thereon, a pro rata return of premium not exceeding one third of the premium paid on such sum insured for such period of insurance shall be made in respect of the difference. If any loss destruction or damage has occurred giving rise to a claim under this policy, such return shall be made in respect only if so much of said difference as is not due to such loss destruction or damage.
If the Insured declares at the latest six months after the expiry of any policy year that the Gross Profit earned during the accounting period of twelve months most nearly concurrent with any period of insurance, as certified by the Insured’s auditors, was less than the sum insured thereon, a pro rata return of premium not exceeding one third of the premium paid on such sum insured for such period of insurance shall be made in respect of the difference. If any loss destruction or damage has occurred giving rise to a claim under this policy, such return shall be made in respect only if so much of said difference as is not due to such loss destruction or damage.
REPLACEMENT CLAUSE - IAR
Risks : IAR
“In the event of loss or damage to ay parts or parts of an insured machine or equipment caused by a peril covered by a peril covered by the policy the sum recoverable shall not exceed the cost of replacement or repair of such part or parts plus charges for forwarding and refitting, if incurred, but not excluding duty unless the full duty is included in the amount insured, in which case loss if any, sustained by payment of additional duty shall also be recoverable. Provided always that in no case shall the liability of underwriters exceed the insured value of the complete machine or equipment.”
“In the event of loss or damage to ay parts or parts of an insured machine or equipment caused by a peril covered by a peril covered by the policy the sum recoverable shall not exceed the cost of replacement or repair of such part or parts plus charges for forwarding and refitting, if incurred, but not excluding duty unless the full duty is included in the amount insured, in which case loss if any, sustained by payment of additional duty shall also be recoverable. Provided always that in no case shall the liability of underwriters exceed the insured value of the complete machine or equipment.”
RENT CLAUSE - IAR
Risks : IAR
“It is hereby declared and agreed that in the event of the said premises or any part thereof becoming untenantable as result of its destruction or damage by fire or any other perils hereby insured against, the company will, subject to the conditions hereinafter contained, indemnify the insured for loss or rent in accordance with the lease or agreement existing at the tie of such destruction or damage. The company shall only be answerable for rent for such period as the premises (or proportionately in the case of any part thereof) may be actually untenantable, due diligence being used in the repair or reconstruction of the same, but if any case the repair or reconstruction of the said premises be not fortwith commenced, the loss of rent shall be determined by the time which would have sufficed for the purpose had due deligence been used, but in no case exceeding 12 (twelve) months rent. In case the rent of the premises for the period specified shall exceed the sum hereby insured, the amount payable shall be in the proportion which the sum insured bears to such rent. If the whole of any part of the premises be occupied by the insured, the rent thereof shall be assessed at a reasonable market value. And it is further stipulated that should any of the standing charges incurred for maintaining the premises in a tenantable condition (such as wages of caretaker or liftmen, cost of power, lighting and the like), ceased or be reduced in consequence of fire of any other peril hereby insured against, then the amount payable shall be reduced accordingly”
“It is hereby declared and agreed that in the event of the said premises or any part thereof becoming untenantable as result of its destruction or damage by fire or any other perils hereby insured against, the company will, subject to the conditions hereinafter contained, indemnify the insured for loss or rent in accordance with the lease or agreement existing at the tie of such destruction or damage. The company shall only be answerable for rent for such period as the premises (or proportionately in the case of any part thereof) may be actually untenantable, due diligence being used in the repair or reconstruction of the same, but if any case the repair or reconstruction of the said premises be not fortwith commenced, the loss of rent shall be determined by the time which would have sufficed for the purpose had due deligence been used, but in no case exceeding 12 (twelve) months rent. In case the rent of the premises for the period specified shall exceed the sum hereby insured, the amount payable shall be in the proportion which the sum insured bears to such rent. If the whole of any part of the premises be occupied by the insured, the rent thereof shall be assessed at a reasonable market value. And it is further stipulated that should any of the standing charges incurred for maintaining the premises in a tenantable condition (such as wages of caretaker or liftmen, cost of power, lighting and the like), ceased or be reduced in consequence of fire of any other peril hereby insured against, then the amount payable shall be reduced accordingly”
RENT CLAUSE - IAR
Risks : IAR
“It is hereby declared and agreed that in the event of the said premises or any part thereof becoming untenantable as result of its destruction or damage by fire or any other perils hereby insured against, the company will, subject to the conditions hereinafter contained, indemnify the insured for loss or rent in accordance with the lease or agreement existing at the tie of such destruction or damage. The company shall only be answerable for rent for such period as the premises (or proportionately in the case of any part thereof) may be actually untenantable, due diligence being used in the repair or reconstruction of the same, but if any case the repair or reconstruction of the said premises be not fortwith commenced, the loss of rent shall be determined by the time which would have sufficed for the purpose had due deligence been used, but in no case exceeding 12 (twelve) months rent.
In case the rent of the premises for the period specified shall exceed the sum hereby insured, the amount payable shall be in the proportion which the sum insured bears to such rent.
If the whole of any part of the premises be occupied by the insured, the rent thereof shall be assessed at a reasonable market value. And it is further stipulated that should any of the standing charges incurred for maintaining the premises in a tenantable condition (such as wages of caretaker or liftmen, cost of power, lighting and the like), ceased or be reduced in consequence of fire of any other peril hereby insured against, then the amount payable shall be reduced accordingly”
REMOVAL OF DEBRIS - IAR
Risks : IAR
On First Loss BasisThis insurance under this heading is not subject to the Average Clause.
1.In consideration of the payment of an additional premium this policy extends to indemnify the Insured in respect of
The cost of removal of debris, demolition any temporary repairs necessary (including the Insured’s legal liability for the cost of removal of debris, demolition and temporary repairs in regard to adjoining premises, roadways or waterways, as well as on the site), consequent upon the destruction of or damage to any property, insured by the Insured’s Fire Policy (or Policies) occasioned by fire or any other perils thereby insured against.
Provided always :
-that such cost is not recoverable under any other Policy of Insurance
-that the indemnity afforded by this insurance shall not apply to or include liability assumed by the Insured under agreement entered into after the commencing date of this insurance unless such liability would have attached to the Insured in the absence of such agreement.
2.Sum Insured : within the sum insured with Limit 10% of TSI which in no case shall not exceed 10% of the total sum insured on building(s) and/or contents.
REINSTATEMENT VALUE - SHORT
Risks : FGI, BT
It is hereby declared and agreed that in the event of the property insured being destroyed or damaged, the basis upon which the amount payable under interest insured (building, content) of the policy is to be calculated shall be the cost of replacing or reinstating on the same site property of the same kind or type but not superior to or more extensive than the insured property when new, subject to the following Special Provision and subject also to the terms and conditions of the policy except insofar as the same may be varied hereby.
It is hereby declared and agreed that in the event of the property insured being destroyed or damaged, the basis upon which the amount payable under interest insured (building, content) of the policy is to be calculated shall be the cost of replacing or reinstating on the same site property of the same kind or type but not superior to or more extensive than the insured property when new, subject to the following Special Provision and subject also to the terms and conditions of the policy except insofar as the same may be varied hereby.
REINSTATEMENT VALUE - LONG
Risks : IAR
It is hereby declared and agreed that in the event of the property insured being destroyed or damaged, the basis upon which the amount payable under interest insured (building, content) of the policy is to be calculated shall be the cost of replacing or reinstating on the same site property of the same kind or type but not superior to or more extensive than the insured property when new, subject to the following Special Provision and subject also to the terms and conditions of the policy except insofar as the same may be varied hereby. Special Provisions i. The work of replacement or reinstatement (which may be carried out upon another site and any manner suitable to the requirements of the Insured subject to the liability of Insurer not being thereby increased) must be commenced and carried out with reasonable dispatch and in any case must be completed within 12 (twelve) months after the destruction or damage or within such further time as the insurer may (during the said 12 months) in writing allow otherwise no payment beyond the amount which would have been payable under the Policy if this memorandum had not been incorporated therein shall be made. ii. Until expenditure has been incurred by the insured in replacing or reinstating the property destroyed or damaged the insurer shall not be liable for any payment in excess of the amount which would have been payable under the policy if this memorandum had not been incorporated therein. iii. If at the time of replacement or reinstatement the sum representing the cost which would have been incurred in replacement or reinstatement if the whole of the property covered had been destroyed exceeds the sum insured thereon at the breaking out of any fire or at the commencement of any destruction of or damage to such property by any other peril insured against by this policy then the Insured shall be considered as being his own insurer for the excess and shall bear a rateable proportion of the loss accordingly. Each item of the Policy (if more than one) to which this memorandum applies shall be separately subject to the foregoing provision. iv. No payment beyond the amount which would have been payable under the Policy if this memorandum had not been incorporated therein shall be made if at the time of any destruction or damage to any property insured hereunder such property shall be covered by any other insurance effected by or on behalf of the Insured which is not upon the identical basis of reinstatement set forth herein. v. This memorandum shall be without force or effect if (a) The Insured fails to intimate to the Insurer within 6 months from the date of destruction or damage or such further time as the Insurer may in writing allow his intention to replace or reinstate the property destroyed or damaged. (b) The Insured is unable or unwilling to replace or reinstate the property destroyed or damaged on the same or another site.
It is hereby declared and agreed that in the event of the property insured being destroyed or damaged, the basis upon which the amount payable under interest insured (building, content) of the policy is to be calculated shall be the cost of replacing or reinstating on the same site property of the same kind or type but not superior to or more extensive than the insured property when new, subject to the following Special Provision and subject also to the terms and conditions of the policy except insofar as the same may be varied hereby. Special Provisions i. The work of replacement or reinstatement (which may be carried out upon another site and any manner suitable to the requirements of the Insured subject to the liability of Insurer not being thereby increased) must be commenced and carried out with reasonable dispatch and in any case must be completed within 12 (twelve) months after the destruction or damage or within such further time as the insurer may (during the said 12 months) in writing allow otherwise no payment beyond the amount which would have been payable under the Policy if this memorandum had not been incorporated therein shall be made. ii. Until expenditure has been incurred by the insured in replacing or reinstating the property destroyed or damaged the insurer shall not be liable for any payment in excess of the amount which would have been payable under the policy if this memorandum had not been incorporated therein. iii. If at the time of replacement or reinstatement the sum representing the cost which would have been incurred in replacement or reinstatement if the whole of the property covered had been destroyed exceeds the sum insured thereon at the breaking out of any fire or at the commencement of any destruction of or damage to such property by any other peril insured against by this policy then the Insured shall be considered as being his own insurer for the excess and shall bear a rateable proportion of the loss accordingly. Each item of the Policy (if more than one) to which this memorandum applies shall be separately subject to the foregoing provision. iv. No payment beyond the amount which would have been payable under the Policy if this memorandum had not been incorporated therein shall be made if at the time of any destruction or damage to any property insured hereunder such property shall be covered by any other insurance effected by or on behalf of the Insured which is not upon the identical basis of reinstatement set forth herein. v. This memorandum shall be without force or effect if (a) The Insured fails to intimate to the Insurer within 6 months from the date of destruction or damage or such further time as the Insurer may in writing allow his intention to replace or reinstate the property destroyed or damaged. (b) The Insured is unable or unwilling to replace or reinstate the property destroyed or damaged on the same or another site.
REASONABLE DESPATCH CLAUSE
If following damage to property insured, the Insured considers that resumption of its’ Business activity and/or the work of reinstating or replacing or repairing the Property Insured poses a threat to human life or safety and as a result the Insured delays commencement of all or part of the resumption and/or all or part of the work of reinstatement or replacement or repairing, then Insurers will deem such delay as beyond the control of the Insured and that the Insured Is acting with reasonable dispatch and due diligence.
PUBLIC UTILITIES - BI
Risks : BI
Any loss as insured by this policy resulting from interruption of or interference with the Business in consequence of loss destruction or damage at the undernoted situations or to property as undernoted shall be deemed to be an incident. Property at any
a. Generating station or sub-station of the public electricity supply undertaking
b. Land based premises of the public gas supply undertaking or of any natural gas producer linked directly therewith
c. Water works or pumping station of the public water supply undertaking
d. Land based premises of the public telecommunications undertaking
e. from which the Insured obtains (electricity) (gas) (water) or (telecommunications services) all in Indonesia
PRORATE REFUND PREMIUM CLAUSE
Risks : VARIOUS
Notwithstanding of anything in the policy where both parties may terminate this policy, the refund premium calculated and refundable shall be calculated on pro-rata basis.
Notwithstanding of anything in the policy where both parties may terminate this policy, the refund premium calculated and refundable shall be calculated on pro-rata basis.
PROPERTY HELD IN TRUST CLAUSE
Risks : PLI
It is hereby declared ad agreed that th Insured will indemnify the Insured against all sums for which the Insured shall become legally liable consequent upon death bodily injury illness loss or damage as within defined in connection with the property held in trust or under control of the Insured.
It is hereby declared ad agreed that th Insured will indemnify the Insured against all sums for which the Insured shall become legally liable consequent upon death bodily injury illness loss or damage as within defined in connection with the property held in trust or under control of the Insured.
PROPERTY DAMAGE CLARIFICATION CLAUSE
Risks : VARIOUS
Property damage covered under this Agreement shall mean physical damage to the substance of property. Physical damage to the substance of property shall not include damage to data or software, in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure. Consequently the following are excluded from the Agreement : A. Loss or or damage to data or software in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure, and any business interruption losses resulting from such loss or damage. Notwithstanding this exclusion, loss of or damage to data or property shall be covered. B. Loss or damage resulting from an impairment in the function, availability, range or accessibility of data, software or computer programs, and any business interruption losses resulting from such loss or damage.
Property damage covered under this Agreement shall mean physical damage to the substance of property. Physical damage to the substance of property shall not include damage to data or software, in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure. Consequently the following are excluded from the Agreement : A. Loss or or damage to data or software in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure, and any business interruption losses resulting from such loss or damage. Notwithstanding this exclusion, loss of or damage to data or property shall be covered. B. Loss or damage resulting from an impairment in the function, availability, range or accessibility of data, software or computer programs, and any business interruption losses resulting from such loss or damage.
PROPERTY & MACHINERY UNDERGOING CONSTRUCTION & ERETION WITH LIMIT 10% OF TSI
Risks : IAR
Notwithstanding of anything to the contrary, It is hereby noted and agreed that this policy shall extend to cover the property undergoing construction and/or erection with limit 10% of TSI in the aggregate.
Notwithstanding of anything to the contrary, It is hereby noted and agreed that this policy shall extend to cover the property undergoing construction and/or erection with limit 10% of TSI in the aggregate.
Extended to Include Professional Indemnity Endorsement
It is hereby noted and agreed to indemnify the Insured against legal liability for any Claim for compensation first made against the Insured during the Period of Cover and which is notified in writing to the company during the Period of Cover, for breach of professional duty in the conduct of the Professional Business Practice carried on by or on behalf of the Insured by reason of any negligent act, error or omission committed or alleged to have been committed on the part of the Insured.
Professional Indemnity Extension
It is hereby noted and agreed to indemnify the Insured against legal liability for any Claim for compensation first made against the Insured during the Period of Cover and which is notified in writing to the company during the Period of Cover, for breach of professional duty in the conduct of the Professional Business Practice carried on by or on behalf of the Insured by reason of any negligent act, error or omission committed or alleged to have been committed on the part of the Insured.
PROFESSIONAL FEES CLAUSE
Risks : CEAR
The Insurance by this section includes in addition an amount in respect of Architects, Surveyors, and Consulting Engineers Fees or other professional fees and normally reimbursable expenses necessarily consequent upon its loss, destruction or damage but not for preparing any claim, it being authorized amount payable for such fees shall not exceed than authorized under scales authorized by the Royal Institute of British Architects, the Royal Institution of Chartered surveyors, the Association of Consulting Engineers of or the equivalent body in the country of domicile of the professional body concerned or maximum 10% of TSI whichever is the less.
Professional Accountant Clause
Risks : BI
Any particulars or details contained in the Insured’s books account or other business books or documents which may be required by the Company for the purpose of investigation or verifying any claim hereunder may be produced by professional accountants if at the time they are regularly acting as such for the Insured and their report shall be prima facie evidence at the particular and details to which such report relates.
The insurer will pay to the Insured the reasonable charges payable by the Insured to their professional accountants for producing such particulars or details or any other proofs, information or evidence as may be required by the Insurer under the terms of Claims Condition of this policy and reporting that such particulars or details are in accordance with the Insured’s books of accounts or other business books or documents.
Provided that the Sum of the amount payable under this clause and the amount otherwise payable under the policy shall in no case exceed the liability of the Insurer as stated.
PROCESS CLAUSE - MCARGO
Whenever this insurance is extended to cover whilst the cargo kept in the worage, this insurance remains in full force whilst the subject matterinsured is under any process but in no case shall extend to cover damage thereto solely caused by such process or resulting therefrom
PRIVATE WORKS FOR DIRECTORS/EXECUTIVES
Risks : PLI
This Policy is extended to indemnify the Insured and any director or executive of the Insured in respect of the employment on private duties of an employee of the insured by such director or executive. Provided that a) Such director or executive is not entitled to indemnify under any other policy or policies b) The extension by this endorsement shall not apply to or include liability in respect of injury to any person under a contract of service or apprenticeship with the director and/or executive where the injury arises out of and in the course of such person’s employment or service with the director and/or executive. c) Such director and/or executive shall as through he were the Insured observe fulfill and be subject to the terms exceptions limits and conditions of this policy so far as they can apply. d) The extension by this endorsement shall not operate to increase the Company’s liability as set forth in the Schedule of Limits of Indemnity beyond the amount or amount for which the Company would be liable if the Policy were not so extended.
This Policy is extended to indemnify the Insured and any director or executive of the Insured in respect of the employment on private duties of an employee of the insured by such director or executive. Provided that a) Such director or executive is not entitled to indemnify under any other policy or policies b) The extension by this endorsement shall not apply to or include liability in respect of injury to any person under a contract of service or apprenticeship with the director and/or executive where the injury arises out of and in the course of such person’s employment or service with the director and/or executive. c) Such director and/or executive shall as through he were the Insured observe fulfill and be subject to the terms exceptions limits and conditions of this policy so far as they can apply. d) The extension by this endorsement shall not operate to increase the Company’s liability as set forth in the Schedule of Limits of Indemnity beyond the amount or amount for which the Company would be liable if the Policy were not so extended.
PRIOR USE - CEAR
Risks : CEAR
In the event that the Insured Property or any part of the Insured Property under section I shall have been handed over to and/or taken into use by the Insured Employer and/or by the User cover under section I of this Policy shall continue until the expiry date of the Period of Insurance stated in the Schedule of the Policy or any extension thereof agreed by the Insurers.
In the event that the Insured Property or any part of the Insured Property under section I shall have been handed over to and/or taken into use by the Insured Employer and/or by the User cover under section I of this Policy shall continue until the expiry date of the Period of Insurance stated in the Schedule of the Policy or any extension thereof agreed by the Insurers.
PREVENTIVE MEASURES - VARIOUS
Risks : VARIOUS
“It is agreed that in the event of actual damage (or imminent damage) to the Insured property, the Insurer will pay the reasonable cost necessary in preventing, minimizing or reducing damage to the Insured Property, which the Insured can prove were necessarily incurred immediately and urgently in an emergency”
“It is agreed that in the event of actual damage (or imminent damage) to the Insured property, the Insurer will pay the reasonable cost necessary in preventing, minimizing or reducing damage to the Insured Property, which the Insured can prove were necessarily incurred immediately and urgently in an emergency”
PREVENTION ON ACCESS - BI
Risks : BI
In consideration of the payment of an additional premium, which is included in the premium hereon, any loss as insured by this policy resulting from interruption of or interference with the Business in consequence of loss destruction or damage at the undernoted situations or to property as undernoted shall be deemed to be an incident
Property in the vicinity of the Premises, loss or destruction of or damage to which shall prevent or hinder the use of the premises or access thereto, whether the premises or property of the Insured therein shall be damaged or not, and including loss or destruction of or damage to property of any supply undertaking from which the Insured obtains electricity, gas or water, or telecommunications services which prevents or hinders the supply of such services, to the premises.
Political Risk Exclusion Clause
This Policy excludes Confiscation, expropriation, nationalization, commandeering, requisition or destruction of or damage to property by order of the government de jure or de facto or any public, municipal or local authority of the country or area in which the property is situated, seizure or destruction under quarantine or customs regulation
PLAN AND DOCUMENTS CLAUSE - CEAR
Risks : CEAR
Notwithstanding anything herein contained to the contrary the insurance hereby is extended to indemnify the insured against costs and expenses necessarily and reasonably incurred to reproduce such plans, documents and records including all the information therein destroyed or damaged as a result of a peril insured hereunder whatever or whenever such loss, destruction or damage shall occur.
PAYMENT ON ACCOUNT CLAUSE
Risks : VARIOUS
Notwithstanding anything contained in this Policy to the contrary provided that liability has been admitted, progress payments on account of any claim may be made to the Insured at such intervals:
75% of interim payment from the Loss and/or for such amount as may be agreed upon production of a report by the Loss Adjusters (if appointed) provided such payment(s) shall be deducted from the amount finally determined upon adjustment of the claim.
Packing and Container Clause
The Insurer will pay for loss of or damage to packing (including packaging materials, shipping containers, crates, pallets, or the like) while carried during an Insured transit caused by an insured event.
Subject to a limit of $............ for any one loss or series of losses arising from the one insured event provided these cost are not recoverable under other policy of insurance.
PACKING CLAUSE
Sample – 1
Standard Packing Clause
In case of loss of or damage to the goods hereby insured, the Underwriters shall not decline any claim by reason of insufficient PACKING of the goods, so long as such PACKING shall be admitted as appropriate for transportation by the Insured and/or all subsidiaries (including overseas subsidiaries) and/or associated companies and/or agents of the aforementioned
Sample – 2
Packing and Container Clause
The Insurer will pay for loss of or damage to packing (including packaging materials, shipping containers, crates, pallets, or the like) while carried during an Insured transit caused by an insured event.
Subject to a limit of $25,000 for any one loss or series of losses arising from the one insured event provided these cost are not recoverable under other policy of insurance.
PA Extension Cover (For Money Insurance Policy)
Risks : MI
It is hereby noted and agreed that this policy is extended to cover Personal Accident for the officers and/or employees in charge of the money with covers Death, Permanent Disablement (Continental Scale) with limit IDR. _________ and Medical Reimbursement with limit 10% of Death or Permanent Disablement anyone officer and/or employee and Maximum ____ (____) persons anyone accident.
OVERTIME, NIGHT WORK, WORK ON PUBLIC HOLIDAYS AND EXPRESS FREIGHT – EEI, IAR, CEAR ETC
Risks : EEI, IAR, CEAR ETC
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to cover extra charges for overtime, night work, work on public holidays and express freight.
Provided always that such extra charges are incurred in connection with any loss of or damage to the insured items recoverable under the Policy.
If the sum(s) insured of the damaged item(s) is/are less than the amount(s) required to be insured, the amount payable under this Endorsement for such extra charges shall be reduced in the same proportion.
OUTSIDE PREMISES STORAGE - CEAR
Risks : CEAR
Notwithstanding the situation described in the schedule the cover afforded by this Policy extend to include any materials, plant or items being manufactured of whilst located anywhere in the Republic of Indonesia provided they are intended to be used on or will form part of the contract works.
OUTPUT REPLACEMENT CLAUSE – IAR
RISKS : IAR
“Notwithstanding anything contained herein to the contrary, Property Insured under this policy has measurable output and which is capable or replacement with a new item or items which perform a similar function is valued for insurance purposes as follows and settlement of any loss, destruction or damage in respect thereof shall be on the same basis :
a) If property lost, destroyed or damaged is to be replaced by any item(s) which has or have the same or a lesser total output, then the Insurable value thereof is the new installed cost of such replacement item or items as would give the same output as the property lost, destroyed or damaged.
b) If the property with the same total output as the lost, destroyed or damaged property is not available within a reasonable time of the loss, destruction or damage then no deduction shall be made from any claim to allow for the improved output of the replacement property. In such circumstances this Policy will pay the installed cost of the replacement equipment including such extra cost required to ensure associated equipment is compatible and the operations of the Insured are restored.
Provided that in the event of partial loss where property is to be repaired, this policy pay the cost of restoration of the property to a condition substantially the same as but not better or more extensive than its condition when new”
OUTBUILDING CLAUSE – IAR
Risks : IAR
The Insurance by each item under buildings is understood to include walls, gates and fences, small outside buildings, extension, annexes, exterior staircase, fuel installations, steel or iron framework and tanks in the said premises and the insurance by each item under contents extends to contents of each outbuilding, provided their values are included in the sum insured.
OCCUPIERS’ LIABILITY CLAUSE – PLI, HOUSE HOLDER LIABILITY
Risks : PLI, HH LIABILITY
Notwithstanding of anything contained in the policy, this insurance extended to cover for loss or damage to the tenant’s and guest’s property occuring at the insured premises, controlled by the insured security to which this policy applies as described in the schedule.
Subject to the term, conditions and exception of this policy.
NOTIFICATION CLAUSE – IAR ETC
Risks : IAR, VARIOUS
The present situation, manner of connection, construction, nature and interior of the buildings and also the trade carried on therein is known to the Insurer.
NOTICE OF CANCELLATION (30 DAYS)
This contract may be cancelled either by underwriters of the Insured by giving 30 (thirty) days written notice to take effect from the date of receipt of such notice. Notice of cancellation shall commence from midnight on the day when it is issued, and shall not apply to any risks which have attached in accordance with the cover granted hereunder before the cancellation becomes effective.
Whilst cover in respect of the risks or war etc, may be cancelled by either the Underwriters or the Insured giving 7 days notice (such cancellation becoming effective on the expiry of 7 days from midnight of the day on which notice of cancellation is issued by or to the Underwriters).
The Underwriters agree however to reinstate cover subject to agreement between the Underwriters and the Insured prior to the expiry of such notice of cancellation as to new rate of premium and/or conditions and/or warranties.
Whether or not such notice of cancellation of war cover has been given, cover hereunder in respect of the risks or war, shall TERMINATE AUTOMATICALLY upon the outbreak or war (whether there be a declaration or war or not) between any of the following countries: The United Kingdom, The United States of America, France, The Russian Federation, the People’s Republic of China.
NON INVALIDATION CLAUSE – IAR ETC
Risks : IAR, VARIOUS
It is hereby agreed that this insurance shall not be invalidated by : A. any change of occupancy or increase of risks taking place in the property insured without the Insured’s knowledge, provided that they shall, immediately on the same coming to their knowledge, advise the Insurers and pay any additional premium that may be required from the date of such increase of risk. B. workmen on the premises for the purpose of affecting repairs minor alterations or general maintenance purpose and the like.
It is hereby agreed that this insurance shall not be invalidated by : A. any change of occupancy or increase of risks taking place in the property insured without the Insured’s knowledge, provided that they shall, immediately on the same coming to their knowledge, advise the Insurers and pay any additional premium that may be required from the date of such increase of risk. B. workmen on the premises for the purpose of affecting repairs minor alterations or general maintenance purpose and the like.
NOMINATED LOSS ADJUSTER
Risks : IAR, VARIOUS
It is hereby noted and agreed that in the event of a loss the following Loss Adjuster should be appointed. The Preliminary and/or final report should be forwarded to the Agent and/or broker concern. The Nominated Loss Adjuster :
PT. ………….
PT. ………….
PT. ………….
NO CONTROL CLAUSE – IAR
Risks : IAR
“This insurance shall not be affected by failure of the Insured to comply with the provisions of this Policy in any portion of the property over which the Insured has no control”.
NEW LOCATION CLAUSE – IAR
Risks : IAR
Whereby the Insured having trade in another location not yt declared under the Policy, the Insurer hereby noted and agreed to hold cover such location for 30 days (Subject to additional premium) with limit IDR. _________ any one location with the same terms and conditions of the respective policy.
NEW BUSINESS CLAUSE - BI
Risks : BI
For businesses which have not completed a full year working
Rate of Gross Profit:
Rate of Gross Profit earned on the Turnover during the period between the date of the commencement of the Business and the date of the incident
Annual Turnover:
The proportional equivalent, for a period of twelve months, of the Turnover released during the period between the commencement of the Business and the date of the Incident
Standard Turnover:
The proportional equivalent, for a period equal to the indemnity period, of the Turnover released during the period between the commencement of the Business, and the date of the incident
to which such adjustments shall be made as may be necessary to provide for the trend of the Business and for variations in or other circumstances affecting the business either before or after the incident which wold have been affecting the Business had the incident not occurred, so that the figure thus adjusted shall represent as nearly as may be reasonably practicable the results which but for the incident would have been obtained during the relative period after the incident.
MOTORCYCLING CLAUSE - PA
Risks : PA
It is hereby declared and agreed that this policy is extended to cover the Insured person whilst mounting, riding or dismounting from any motorcycle except for the purpose of racing pacemaking or speed testing.
MONEY IN THE PREMISES EXTENSION COVER - IAR
Risks : IAR
Money of the Insured or for which the Insured has assumed or wishes to assume responsibility in expectation of insurable interest is defined as :Cash Bank and Currency Note, Postal Orders and Money Cheques, Giro Cheques, Travellers Cheques, Postage Stamps VAT Purchase Invoice.
MISDESCRIPTION - IAR AND VARIOUS
Risks : IAR
It is understood that this insurance shall not be prejudiced by any alteration or mis-description of occupancy provided the Insured shall notify the company immediately they become aware of the same and to pay additional premium if required from the date of the inception of the increased hazard.
MINOR ALTERATIONS CLAUSE - IAR
Risks : IAR
Minor alterations, additions and repairs to building plant fixtures and fitting, and machinery and minor works in progress are allowed and the insurance by this Policy shall not be prejudiced by this.
MEDICAL EXPENSES CLAUSE - PA
Risks : PA
It is hereby declared and agreed that this policy is extended to cover the Insured person for any medical expenses (including operation fees cost of surgical appliances and nursing home charges) necessarily incurred in connection with any bodily injury which gives rise to a claim under this policy.
MATERIAL DAMAGE PROVISO WAIVER - BI
Risks : BI
It shall not be a condition precedent to liability in respect of interruption or interference in consequence of destruction or damage (as within defined) that payment shall have been made or liability admitted under the insurance covering the interest of the Insured in the property at the premises against destruction or damage if no such payment shall have been made nor liability admitted solely owing to the operation of a proviso in such insurance excluding liability for losses below a specific amount of deductible.
MANUFACTURERS’ RISKS ENDT - CEAR
Risks : CEAR
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, that the item C under “Special Exclusion to Section I” shall be replaced by the following wording:
“All costs related to repair and/or replacement of parts and/or items directly affected by faulty design, defective material or casting, bad workmanship other than faults in erection, which the Insured would have incurred for rectifying the original fault had such fault been discovered before the loss occurred.”
LUBRICATING OIL OR REFRIGERANT OR THERMINOL ENDORSEMENT (WITHIN THE SUM INSURED)
Risks : MB,
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, and subject to the Insured having paid the agreed extra premium, the Insurers shall indemnify the Insured for loss of lubricating oil or refrigerant or therminol in the insured machineries contained in the specification of the Policy,
caused by an indemnifiable accident to the above items, subject to
- a separate sum insured being provided in the specification of the Policy for the lubricating oil or the refrigerant
- a deduction of proper depreciation according to the average life expectancy indicated by the manufacturer or otherwise to be determined at the time of the loss
LOSS OF DAMAGED GOODS CLAUSE
Risks : IAR, MB,
In case of damage to property bearing brands labels and trademarks the sale of which carries in any way a guarantee of the Insured, the salvage value of such damaged property shall be determined after the removal in the customary manner of all brands labels and trade marks which might be taken to indicate that the guarantee of the manufacturer or the Insured attached to said property. However notwithstanding anything to the contrary elsewhere herein, it is understood and agreed that in case of damage to goods insured under this Policy due to peril insured against, the Insured or their representatives are to retain control of all damaged goods. The Insured, however agrees wherever practicable to use recondition or sell such goods, the sale being made after removal of all brands labels or trademarks, with the Insurer being entitled to the proceeds of the sale. Where the use or disposal or sale of damage goods would be in the opinion of the Insured or their representative detrimental to their interest such damage shall be treated as a constructive total loss and the Insured shall destroy the damaged goods in the presence of a representative of the Insurer and the Insured.
LOSS NOTIFICATION CLAUSE – 30 DAYS
Risks : VARIOUS
Notwithstanding anything contained herein to the contrary it is agreed that this insurance will not be prejudiced by any inadvertent delays, errors or omission in notifying the Insurer or any circumstances or events giving rise or likely to give rise to a claim or to a claim under this Policy.
Lock and Keys and Rolling Doors Clause – MI, BT
Risks : MI, BT
The Sum Insured extends to include the cost of replacing locks and keys and Rolling-doors and/or combination if, as a result of theft or any attempt thereat, keys and/or Rolling-doors and/or combinations are stolen or damaged, or if there are any reasonable grounds to believe that they have been duplicated, also the cost of opening locked safes and/or strongrooms as a result of theft or keys and/or combinations.
LESSORS’ INTEREST CLAUSE
It is noted and agreed that ………………………………………… (hereinafter referred to as the lessors) are the owner of the Property insured under (Item ……….) and that such property is the subject of a Leasing Agreement made between the Lessors on the one part and the Insured on the other part. It is further understood and agreed that any payment made in respect of loss or damage (which loss or damage is not made good by repair, reinstatement or replacement) under the terms of this Policy shall be made to the lessors as long as they are the owners of the Property. It is understood and agreed that notwithstanding any provision in the Leasing Agreement to the contrary, this policy is issued to the Insured as the principal party and not as agent or trustee for the lessors and nothing herein shall be considered as constituting the Insured an agent of trustee for the lessors or as an assignment (whether legal or equitable) by the Insured t the lessors of his rights, benefits and claims under this policy, and further, nothing herein shall be construed as creating any right in the lessors to sue the insurer in any capacity whatsoever for any alleged breach of its obligations hereunder.
LENDER’S INTEREST CLAUSE - IAR
Risks : IAR
It is hereby noted and agreed that the property Insured under this Policy has been pledged with “………….” and until such time as the said Bank shall have notified the Insurer, in the contrary, the Insurer/the Underwriters shall advice the said Bank :
a. If they propose to cancel or give notice of cancellation of any such insurance, at least 30 days before such cancellation is to take effects
b. of :
(a) any material alteration and/or
(b) termination of expiry
of any such insurance at least 30 days before such alteration, termination, of expiry
c. Promptly of any default in the payment of any premium or failure to renew any such insurance
d. Of any act or omission or of any event of which the Insurer has knowledge and which they consider might invalidate or render unenforceable in whole or in part of any such insurance.
e. Of any claim under the Policy exceeding US$. 10,000.00
It shall be further noted that in the event of loss, if any, payable under this Policy, any payment up to the amount to which the said bank is entitled for principal, interest accrued and costs shall be made to the said Bank without prejudice to the rights of the Insured for the difference and the said Bank shall act in its capacity as joint insured subject to the terms, conditions and restrictions contained in the policy.
LEASED PROPERTY CLAUSE - IAR
Risks : IAR
This Policy extends to indemnify any other party having an interest in the property insured by virtue of and in accordance with the terms of mortgage, Leasing, Hiring or Renting Agreement, provided such property is not more specifically insured.
LARCENY CLAUSE
Risks : IAR, BT
The Insurance by this Policy is extended to include the risk of larceny which for the purpose of this extension shall mean theft of the property from the premises without forcible entry or exit.
LAND TRANSIT CLAUSE - CEAR
Risks : CEAR
It is hereby declared and agreed that this Policy is extended to cover inventory belonging to the Insured and destined for use in the construction mentioned herein.
It is further declared and agreed that this Policy is also extended to cover the Insured’s store and work sites and risks of loading and unloading.
Provided further that this Insurance shall in no way insured directly or indirectly to the benefit of any carrier or other bailee.
JURISDICTION : WORLDWIDE
Risks : PLI
It is understood and agreed that the Insurer should indemnify that insured in respect of :
A. Any compensation for injury loss or damages of judgment delivered or obtained through a court
wherever the claims occurred.
B. Any cost and expenses of litigation recovered by any claimant from the Insured which are
recoverable through a court wherever that claims occurred.
C. Any cost and expenses incurred by the Insured in the defense of any claims in all over the world.
INTERPRETATION AND HEADINGS CLAUSE
Where any word or expression has been given a specific meaning in any part of this Policy, such word or expression shall bear this meaning wherever it may appear unless such meaning is inapplicable to the context in which the word or expression appears.
Where words other than the Insured or the Insurers have been in the Policy to represent the party entitled to indemnity under this Policy and the party providing the indemnity, it is agreed that for the purpose of this policy those words are deemed to have the same meaning as the Insured and the Insurer.
It is further agreed that
a. Words importing persons shall include corporations and other legal entities
b. References in the singular be deemed to include the plural and vice versa, and
c. Words depicting any gender reference to all other genders
In the event of conflict of interpretation between the various clauses, provisions, and terms contained in the policy, the interpretation most beneficial in the Insured shall always prevail. Should any provision of this Policy be held invalid or unenforceable under applicable law, this policy shall be deemed not to include that provision and the balance of this Policy will remain in full force and effect.
Heading have been included for case reference. It is understood and agreed that the terms and conditions of this Policy are not to be construed or interpreted by references to such headings.
INTERNAL REMOVAL CLAUSE – IAR, FIRE
Risks : IAR, FIRE
It is understood and agreed that in the event of removal of property from one building to another at any of the situations covered by this Policy being inadvertently not advised to the Insurer, the insurance on such property shall follow removal, the necessary adjustments in sum insured and premium being made as from the date of removal as soon as the oversight is discovered. Provided however that the liability of the Insurer shall not exceed the Sum Insured hereunder.
INTEREST OF OTHER PARTIES
Risks : CEAR
The interest of parties supplying property or materials to the main Contractor or any sub-contractor under a hiring leasing or similar agreement is hereby noted but only to the extent that the main contractor or sub-contractor is required to include interest
INSTITUTE THEFT, PILFERAGE AND NON-DELIVERY CLAUSE
INSTITUTE THEFT, PILFERAGE AND NON-DELIVERY CLAUSE
(For use only with Institute Clauses)
In consideration of an additional premium, it is hereby agreed that this insurance covers loss of or damage to the
subject-matter insured caused by theft or pilferage, or by non-delivery of an entire package, subject always to
the exclusions contained in this insurance.
1/12/82
CL272 © Copyright The Institute of London Underwriters
INSTITUTE REPLACEMENT CLAUSE
In the event of loss of or damage to any part or
parts of an insured machine caused by a peril
covered by the Policy the sum recoverable shall
not exceed the cost of replacement of repair of
such part or parts plus charges for forwarding and
refitting, if incurred, but excluding duty unless the
full duty is included in the amount insured, in which
case loss, if any, sustained by payment of additional
duty shall also be recoverable.
Provided always that in no case shall the liability of
Underwriters exceed the insured value of the complete
machine.
CL
INSTITUTE MALICIOUS DAMAGE CLAUSE
In consideration of an additional premium, it is hereby agreed that the exclusion "deliberate damage to or
deliberate destruction of the subject-matter insured or any part thereof by the wrongful act of any person or
persons" is deemed to be deleted and further that this insurance covers loss of or damage to the subject-matter
insured caused by malicious acts vandalism or sabotage, subject always to the other exclusions contained in this
insurance.
1/8/82
CL266 © Copyright The Institute of London Underwriters
INSTITUTE DANGEROUS DRUGS CLAUSE - MCARGO
It is understood and agreed that no claim under this policy will be paid in respect of drugs to which the various International Conventions relating to Opium and other dangerous drugs apply unless
1. The drugs shall be expressly declared as such in the policy and the name of the country from which, and the name of the country to which they are consigned shall be specially stated in the policy
and
2. The proof of loss is accompanied either by a licence, certificate or authorization issued by the Government of the country to which the drugs are consigned showing that the importation of the consignment into that country has been approved by that government. Or alternatively, by a licence, certificate or authorization issued by the government of the country from which the drugs are consigned showing that the export of the consignment to the destination stated has been approved.
and
3. The route by which the drugs were conveyed was usual and customary.
INSTITUTE CYBER ATTACK EXCLUSION CLAUSE } 10/11/2003 ~
1.1 Subject only to clause 1.2 below, in no case shall this insurance cover loss damage liability or expense
directly or indirectly caused by or contributed to by or arising from the use or operation, as a means for
inflicting harm, of any computer, computer system, computer software programme, malicious code,
computer virus or process or any other electronic system.
1.2 Where this clause is endorsed on policies covering risks of war, civil war, revolution, rebellion,
insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power, or
terrorism or any person acting from a political motive, Clause 1.1 shall not operate to exclude losses
(which would otherwise be covered) arising from the use of any computer, computer system or
computer software programme or any other electronic system in the launch and/or guidance system
and/or firing mechanism of any weapon or missile.
INSOLVENCY CLAUSE
INSOLVENCY AMENDMENTS CLAUSE
Exclusions 4.6 of the Institute Cargo Clause (A), Institute Cargo Clauses (B), Institute Cargo Clauses (C) and Exclusions 3.6 of the Institute War Clauses (Cargo) and the Institute Strikes Clauses (Cargo) are amended to read;
“Loss or damage or expense caused by insolvency or financial default of the Owners, Managers, Charters or Operators of the vessel where, at the time of loading of the subject-matter insured on board the vessel, the Insured is aware, or in the ordinary course of business should be aware, that such insolvency or financial default could prevent the normal completion of the voyage”.
This exclusion shall not apply where this insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract".
This amendment applies to all goods shipped on Conference Line Vessels.
INKEEPERS, OFFICE KEEPERS, LIABILITY - PLI
Risks : PLI
It is understood that this Policy is hereby amended as indicated below. All other terms of this policy remain unchanged.
To pay on behalf of the Insured all sums, which the Insured shall become legally, obligated to pay reason of liability for damages because of injury to, destruction of or loss of property of the guests/visitors while in such premises.
Special exclusions :
1. Occasioned by the negligence/misconduct of the guests/visitors
2. Arising out of the act of GOD and public enemy
3. Losses caused by loss of or damage to automobiles or property in
automobile
INGRESS/EGRESS CLAUSE - BI
Risks : BI
This Policy covers the loss of Gross Revenue and increase in cost of working incurred by the Insured due to the necessary interruption of the Insured’s business due to prevention of ingress to or egress from an Insured location, from any cause, whether or not the premises or property of the Insured is damaged.
This policy does not provide coverage under this extension for more than the number of consecutive days specified in the schedule.
INDUSTRIES, SEEPAGE AND/OR POLLUTION AND/OR CONTAMINATION EXCLUSION CLAUSE
This Policy does not insure against loss, destruction, damage, costs or expenses in connection with any kind or description of seepage and/or pollution and/or contamination, direct or indirect, arising from any cause whatsoever.
NEVERTHELESS if fire is not excluded FROM THIS policy and a fire arises directly or indirectly from seepage and/or pollution and/or contamination any loss, destruction or damage insure under this Policy arising directly from that fire shall (subject to terms, conditions and limitations of the Policy) be covered.
However, if the Property Insured is the subject of direct physical loss, destruction or damage for which the Insurers have paid or agreed to pay, then this Policy (subject to terms, conditions and limitations) insures against direct physical loss, destruction or damage to the Property Insured hereunder caused by resulting seepage and/or pollution and/or contamination.
The Insured shall give notice to the Insurers of intent to claim AS SOON AS PRACTICAL WITHIN 30 DAYS FROM THE DATE OF OCCURRENCE.
Nothing contained herein shall override any radioactive contamination exclusion in the Policy.
INDONESIAN JURISDICTION CLAUSE
Risks : VARIOUS
It is understood and agreed that the Insurers shall be under no liability in respect of :
1. Compensation for injury, loss or damage in respect of judgement delivered or obtained
otherwise than through a court of competent jurisdiction within the Republic of Indonesia.
2. Cost and expenses of litigation recovered by any claimant from the Insured which are not
incurred in and recoverable in the Republic of Indonesia.
Note : Subject otherwise to the terms, conditions and limitations of this Policy.
INDEMNITY TO PRINCIPAL - PLI
Risks : PLI
Where any contract or agreement entered into with any principal (named in the schedule hereto) and the company will indemnify the Principal within the Geographical Limit of this Policy for any claim resulting from injury, ill ness, loss or damage (as herein defined) where such injury, illness or damage occurs during the currency of the Policy and arises out of in the course of or by reason of the carrying of out by the Insured and/or his Subcontractors of work for which an indemnity is provided by this Policy.
Provided that :
the Insured shall have arranged with the Principal for the conduct and control of all claims for which the Company many be liable by virtue of the indemnity to be vested in the Company.
The Principal shall observe fulfil and be subject to the terms and conditions of the policy in so far as they can apply.
Claim made by the Principal shall be treated as though the Principal were not meaasured by this policy.
INCREASE IN BUSINESS CLAUSE
Risks : BI
The undersigned hereby agreed to accept at the premium stated in policy, additions to the sum insured to maximum of in total 10% of the insured amount under this policy. However, that expire dates of the aforesaid additions not take place subsequent to the expire date of this policy such additions to the sum insured so accepted will be considered take effect from the date of the postmark of the written or the date of telegraphic instruction from the Insured.
INCLUDING Transshipment
It is hereby noted and agreed that the policy is extended to cover loss and/or damaged to cargo due to sudden and accidental and unforeseen risks happen during transshipment
INCLUDING LOADING AND UNLOADING
It is hereby noted and agreed that the policy is extended to cover loss and/or damaged to cargo due to sudden and accidental and unforeseen risks happen during loading and unloading
INCLUDING Hijacking, Robbery and Piracy Risks
It is hereby noted and agreed that the policy is extended to cover loss and/or damaged to cargo due to Hijacking, Robbery and Piracy Risks
IMPACT BY OWN VEHICLES CLAUSE – IAR
Risks : IAR
It is noted and agreed that the cover relating to impact of vehicles shall include vehicles owned or used by the Insured.
HIJACKING CLAUSE - PA
Risks : PA
HIJACKING CLAUSE
The Company will pay benefit at the rate of USD. 100.00 for each period of 24 hours or part thereof that the Insured person is prevented from reaching his Schedule destination through Hijack of any Aircraft in which such person is travelling as a fare paying passenger during the period of Insurance.
The Company will also pay reasonable expenses incurred as a result of Hijack provided that the total amount payable for each Insured person shall be limited in accordance with the following table.
Insured Persons Maximum Amountof Benefit Payable for Person
Each Insured Person over 16 years of age USD. 10,000.00
Each Insured Person under 16 years of age USD. 5,000.00
“Aircraft” shall mean any aircraft operated by a recognized Airline on a regular Scheduled Service over established air routes or any fully licensed standard type multiengined aircraft operated by a recognized Air Charted Company “Hijack” shall occur where threats of violence are made with the intention or diverting an Aircraft from its Scheduled routes.
HIJACKING CLAUSE - PA
Risks : PA
It is agreed and noted that this policy includes the loss or damage due to hijacking means the acquisition or attemped acquisition of the conveyance and/or other insured goods whilst in transit by violence or threats of violence.
GUEST EFFECT CLAUSE
Risks : PLI
To pay on behalf of the Insured all sums which the Insured shall become legally liable to pay by reason of liability for damage because of injury to destruction of, or loss of, property belonging to guests/visitors including car(s) and its (their) contents at the Insured premises while such property is within the premises, or in the possession of the Insured.
GOODS IN STORAGE - CEAR
Risks : CEAR
It is understood and agreed that this policy is extended to indemnify the insured against loss damage to materials (whether temporary or permanent) and any other goods or objects intended for incorporation into the works, whilst such materials goods or objects are stored in the insured premises other than when they are actually being worked upon. Provided always that the Insurer’s liability under this extension shall not exceed the Sum Insured.
GENERAL INTEREST CLAUSE – IAR, FIRE
Risks : IAR, FIRE
GENERAL INTEREST CLAUSE
Certain of the Property insured may be the subject of hire purchase lease or other agreements and the interest of the other parties to these arrangements is noted in this insurance, the nature and extent of such interest to be disclosed by the Insured in the event of damage.
FOOD AND DRINK POISONING CLAUSE - PLI
Risks : PLI
Notwithstanding anything herein contained to the contrary it is hereby understood and agreed that the Policy will subject to its term limitations and conditions extends to cover the Insured’s Legal Liability arising out of claims made in respect of poisoning of any kind arising from food and drinks or other goods sold or supplied or to the presence of deleterious matter in such food and drinks or other goods.
Provided always
that this Policy is issued on the expressed conditions that the Company shall not be liable thereunder unless the Insured shall at all times take every possible precaution to prevent the supply or sale of any articles or other goods which are not in good condition, free from contamination and fit for human consumption.
FOOD AND DRINK POISONING CLAUSE - PA
Risks : PA
This policy is extended to indemnify the Insured against all sums which the Insured shall become legally liable to pay as compensation in respect of death, bodily injury or illness caused by food poisoning or arising from poisoning of any kind of foreign deleterious matter in food or drink or other goods consumed within the Insured Premises.
FLOOR, SPACE, RATIO INDEX CLAUSE
Risks : IAR, FIRE
“Subject to the terms and conditions of this policy in the event of any building being damaged so as to constitute total loss or constructive total loss and as a result of the exercise of Statutory powers and/or authority by any Government Departments Local Government or any other Statutory Authorities reinstatement of such building as before is prohibited and reinstatement is only permissible subject to a reduced floor, space ratio index.
The Insurers agree to pay in addition to any amount payable on reinstatement of such building the difference between:
a. the actual cost of reinstatement incurred in accordance with the reduced floor, space ratio index and
b. the cost of reinstatement which would have been incurred had a reduced floor space ratio index not been applied.
In arriving at the amount payable under (a) and (b) above any payments made by the Insurers shall include the extra cost of reinstatement including demolition or dismantling of the property Insured necessarily incurred to comply with the requirements of any act of Parliament or Regulation made thereunder or any By-law or Regulation of any Municipal or other Statutory Authority”
FIRST LOSS UNDER INSURANCE
Risks : IAR, MB, BT (yang memiliki pertanggungan First Loss Limit Basis)
The Insurance by this policy is arranged on the basis of first loss up to an amount stated in the Schedule of this policy.
It is agreed that the Average Condition of this Policy is hereby deleted.
FIRST AID CLAUSE – PLI
Risks : PLI
It is hereby declared and agreed that the Company will indemnify the Insured against all sums for which the Insured shall become legally liable consequent upon death bodily injury illness loss or damage as within defined arising out of provision of first aid facilities but excluding any act of negligence omission or neglect of any duly qualified member of the medical profession or any employee or volunteer of any hospital or ambulance organization
FIRE EXTINGUSHIER CHARGES – IAR, PLI
Risks : PLI, IAR
The insurer by this policy extends to cover loss of or damage to the fire extinguishing appliances caused by the Insured perils.
This extension is deemed to include the cost reasonably incurred of refilling the fire extinguishing appliances provided always that such cost is incurred as a direct result of the use of the fire extinguishing appliances for the extinguishment of fire endangering the safety of the insured property. The Company will not be liable for the first (Nil) for the loss in respect of the costs of refills.
Provided always that the liability of he company in respect of such wages and costs shall be limited to those necessarily and reasonably incurred in extinguishing fires at or adjoining the situation of the property insured by this policy or immediately threatening to involve such property.
Provided further that otherwise the insurance under this endorsement and the policy shall be subject to all terms, limitations, stipulations, exclusions, proviso and exceptions printed on, expressed in, endorse upon or attached to the policy and provided also that all of the conditions of the policy (except in so far as they may hereby varied) shall apply as if they had been incorporated herein.
FIRE BRIGADES CHARGES – IAR, PLI
Risks : PLI, IAR
It is hereby understood and agreed that the reasonable charges raised by any local authority for the provision of Fire Fighting Appliances called for the purpose of the protecting the premises shall be recoverable hereunder.
FIRE AND EXPLOSION ENDORSEMENT
Risks : PLI
Notwithstanding anything herein contained to the contrary it is hereby understood and agreed that the Policy will subject to the terms, limitations and conditions extended to cover the Insured’s Legal Liability for fire and for explosion damage.
FINES OR DAMAGES FOR BREACH OF CONTRACT
Risks : BI
The insurance under this item is limited to fines or damages for breach of contract and the amount payable as indemnity thereunder shall be such sums as the Insured shall be legally liable to pay and shall pay in discharge of fines or damages, incurred solely in consequence of the incident, for non-completion or late completion of orders.
FAILURE OF PUBLIC SUPPLIES
Risks : BI
In consideration of the payment of an additional premium which is included in the premium hereon it is hereby agreed declared that subject to the conditions of the policy loss as insured by this policy resulting from interruption of or interference with the business in consequence of damage (as within defined) to property at any electric power station or substation, gas works or water of the public supply undertaking from which the Insured obtains electric current, gas or water shall be deemed to be loss resulting from damage to property used by the Insured at the premises.
Extra Charges Clause
Risks : CEAR
Notwithstanding anything contained herein to the contrary it is hereby declared and agreed that in the event of a claim the Insurers will also indemnify the Insured against the reasonable additional expenses incurred by the Insured.
a. in respect of overtime working and work carried out on Sundays, Holidays and at night
b. for transport costs at express carriage, air freight rates or replacement parts damaged machinery and/or property
for the sole purpose of effecting replacements of or expediting the repairs for the costs of which the Insurers are liable.
Provided always that the Insurer’s liability in respect of such additional expenses shall not exceed 100 per cent of the cost of the replacement or the repairs had such additional expenses not been incurred.
EXTRA CONTRACTUAL OBLIGATIONS EXCLUSION CLAUSE
All cover in respect of extra-contractual obligation howsoever arising, such extra-contractual obligations being defined as any award made by a court of competent jurisdiction against an insurer or reinsurer, which award is not within the coverage granted by any insurance and/or reinsurance contract made between the parties in dispute, unless such extra-contractual obligations is incurred as a result of the Reinsured’s participation in any reinsurance which provides cover for such loss results from a contractual liability incurred by the Insured.
EXTENDED TO COVER WHILE THE GOODS IS BEING TRANSPORTED BY ANY KIND OF CARRIER
Risks : IAR
EXTENDED TO COVER WHILE THE GOODS IS BEING TRANSPORTED BY ANY KIND OF CARRIER BUT NOT LIMITED TO MARINE AND/OR LAND TRANSIT WITH ALL RISK COVER INCLUDING HIJACKING.
"It is hereby agreed and noted that this policy extended to cover while the goods is being transported by any kind of carrier but not limited to Marine and/or land transit with all risk cover including hijacking"
EXTENDED MAINTENANCE COVER - CEAR
Risks : CEAR
Following the issue of a Certificate of Completion of permanent works of any part thereof insured under this Policy the insurers will indemnify the insured subject to the terms exceptions and conditions of this Section during the testing/maintenance period in the Schedule for loss of or damage to such works:
i. Arising or resulting from a cause occurring prior to the issue of a Certificate of
Completion, or
ii. Caused by the Contractors in the course of any operations carried out by them for the
purpose of complying with their obligations under Contract(s)
In the event that permanent works, plants or plant(s) thereof be out into commercial operation by the Employer before the issue to the Contractor(s) of a Certificate(s) of Completion or taking over in respect therefull cover shall be maintained thereon until the issue of the said Certificate(s) provided that the Insured shall as soon as possible give notice thereof to the Insurers in order that there may be assessed and agreed any additional premium reasonably required by Insurers in compensation for any increased hazard arising out of such use and operation.
EXPOSURE CLAUSE - PA
Risks : PA
It is hereby declared and agreed that subject to all terms limitations conditions and exclusions of this Policy except as specifically provided herein, this Policy covers claims arising out of bodily injury caused by exposure to the elements as a result of an accident covered hereunder provided that in the event of death of the Life Insured caused by exposure to the elements that his death is the subject of a properly constituted Judicial Body Enquiry by which it is found that the Life Insured died of exposure as a result of an accident.
EXPLOSION, COLLAPSE OR FRACTURE OF ANY BOILER, STEAM OR PRESSURE VESSEL OWNED OR OPERATED BY THE INSURED
Risks : PLI
“It is hereby noted and agreed that the Policy is cover the liability arising from explosion collapse or fracture of any boiler, steam or pressure vessel owned or operated by the Insured”
Subject otherwise to terms, condition and exceptions of the Policy
EXPEDITING EXPENSES – IAR, MB, CEAR OR EXPEDITING EXPENSES CLAUSE
EXPEDITING EXPENSES – IAR, MB, CEAR
Risks : IAR, CEAR, MB
In the event of loss or damage to the property insured or any part hereof the cost of any repair replacement or rectification admitted under this policy shall include the additional costs not exceeding 100% of the repair costs overtime weekend and shift working bonus payments plants hire charges express delivery (including airfreight) and the like necessarily and reasonably incurred in expediting such repair replacement or rectification but excluding any such costs solely to expedite the completion of any construction erection or installation of property not lost or damaged.
OR
EXPEDITING EXPENSES CLAUSE
Subject to the Limit(s) of Liability stated in the Schedule, this Insurance extends to cover additional expenses necessarily incurred by or on behalf of the Insured in connection with or incidental to expediting the commencement, carrying out or completion of the repair reinstatement or replacement of the Property Insured consequent upon loss, destruction or damage insured against hereunder.
EXECUTIVE TRAVEL ENDORSEMENT – PLI Cover
It is hereby declared and agreed that the Company will indemnify the Insured against all sums for which the Insured shall become legally liable consequent upon death bodily injury illness loss or damage as within defined arising out of any act of negligence omission or neglect of any duly the executive representatives of the Insured in related to their world-wide travel, but excluding USA and Canada.
ESCALATION – IAR, CEAR
Risks :CEAR
If during the period of insurance the actual contract price or the value of the insured property shall be in excess of the amount of the contract limit shown in the schedule, the insured shall have the right to request an increase in the amount of liability available hereunder in which event
a. the insurance provided by this policy will extend to include any such increase up to a maximum of 20 (twenty) per cent above the amount of liability specified herein or agreed additional value and the policy will be endorsed accordingly.
b. the Insured shall pay additional premium proportionate to the amount of the increase.
Risks :IAR
It is hereby agreed that in the event of any loss in respect of Property covered under the Policy and increase of 20% of the Original Sum Insured of Material Damage and/or Business interruption per annum shall be allowed over and above the original sum insured stated in the certificate during the period of the lease, such escalation being applied on a pro-rate basis for parts of a year.
EMPLOYEE SPORTS AND SOCIAL CLUB FACILITIES
Risks : PLI
The Insured’s business shall be understood to include the provisions of social, sports and welfare activities for the benefit of the Insured’s employee.
For the purpose of this endorsement the company will treat as though he were the Insurer for any employee whilst engaged in the above mentioned activities provided that :
Ø Such employee is not entitled to indemnify under any other Policy.
Ø Such employee shall observe the terms of this Policy insofar as they can apply
In respect of any claim or number of claims arising out of one cause the Company is liable to indemnify more than one party the total amount of indemnity to all parties shall not exceed the limit of liability.
EMPLOYEE PERSONAL EFFECT – IAR, PLI, FIRE
Risks : IAR, PLI, FIRE
EMPLOYEES PERSONAL EFFECTS CLAUSE
The indemnity granted by this Policy extends to include clothing and/or personal effects of the employees of the Insured for an amount not exceeding Rp. 2.500.000,- in respect of any one employee and for an amount not exceeding in the aggregate Rp. ………………..,-
EMPLOYEE LEGAL LIABILITY
Risks : PLI
It is hereby declared and agreed that the Insurance by this Policy is extended to cover the Legal Liability of th Insured's employee in respect of any bodily injury or damage to property of Third Party, provided always that the liability shall not in any case exceed the limit of liability specified in th Policy
ELECTRONIC DATE RECOGNITION EXCLUSION CLAUSE - MCARGO
Words that appear in quotation marks in this endorsement have special meaning. Refer to Section B - Definitions.
A. Exclusion
Notwithstanding any other terms and conditions this Policy, including any other endorsements which may be attached to it, does not insure against any loss, damage, cost, claim or expense directly or indirectly arising out of or relating to:
1. The failure of any “system”, whether the property of the Insured or others, to “recognize” any “data” involving any “date change”, or
2. Any “modification” of any “system” whether the property of the Insured or others, to permit such “system” to “recognize” any “data” involving any “date change”
This exclusion shall apply regardless of any other cause or event that contributes concurrently or in any sequence to the loss, damage, cost, claim or expense.
However, if physical loss or damage not otherwise excluded by this Policy results, then subject to all its terms and conditions, this Policy shall be liable only for such resulting loss or damage. Each occurrence of resulting physical loss or damage shall be adjusted separately, and each occurrence shall be subject to the provisions regarding sublimits and deductibles specified elsewhere in this Policy.
In the event physical loss or damage not otherwise excluded by this Policy results to any “system”, this Policy including any other endorsement which may be attached to it, does not insure against any loss, damage, cost or claim or expense, whether preventative, remedial or otherwise, arising out of or relating to any “modification” of any “system”, whether the property of the Insured or others, to permit such “system” to “recognize” any “data” involving any “date change”.
B. Definitions
1. “System” means any computer system, hardware, firmware, program, or software or any microchip, integrated circuit, or similar device in computer equipment or non-computer equipment.
2. “Recognize” means to recognize, interpret, calculate, compare, differentiate, distinguish, accept, sequence or process.
3. “Data” means any data, instruction or information
4. “Date Change” means the date change to year 2000, the date change in any leap year or any other date change.
5. “Modification” means any modification, change, addition, alteration or correction.
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, condition, or limitations of the policy to which this endorsement is attached other than as above stated.
ELECTRONIC DATA RECOGNITION EXCLUSION CLAUSE (Y2K)
Risks : EEI, MB, IAR
ELECTRONIC DATE RECOGNITION EXCLUSION CLAUSE (Y2K)
Words that appear in quotation marks in this endorsement have special meaning. Refer to Section B - Definitions.
A. Exclusion
Notwithstanding any other terms and conditions this Policy, including any other endorsements which may be attached to it, does not insure against any loss, damage, cost, claim or expense directly or indirectly arising out of or relating to:
1. The failure of any “system”, whether the property of the Insured or others, to “recognize” any “data” involving any “date change”, or
2. Any “modification” of any “system” whether the property of the Insured or others, to permit such “system” to “recognize” any “data” involving any “date change”
This exclusion shall apply regardless of any other cause or event that contributes concurrently or in any sequence to the loss, damage, cost, claim or expense.
However, if physical loss or damage not otherwise excluded by this Policy results, then subject to all its terms and conditions, this Policy shall be liable only for such resulting loss or damage. Each occurrence of resulting physical loss or damage shall be adjusted separately, and each occurrence shall be subject to the provisions regarding sublimits and deductibles specified elsewhere in this Policy.
In the event physical loss or damage not otherwise excluded by this Policy results to any “system”, this Policy including any other endorsement which may be attached to it, does not insure against any loss, damage, cost or claim or expense, whether preventative, remedial or otherwise, arising out of or relating to any “modification” of any “system”, whether the property of the Insured or others, to permit such “system” to “recognize” any “data” involving any “date change”.
B. Definitions
1. “System” means any computer system, hardware, firmware, program, or software or any microchip, integrated circuit, or similar device in computer equipment or non-computer equipment.
2. “Recognize” means to recognize, interpret, calculate, compare, differentiate, distinguish, accept, sequence or process.
3. “Data” means any data, instruction or information
4. “Date Change” means the date change to year 2000, the date change in any leap year or any other date change.
5. “Modification” means any modification, change, addition, alteration or correction.
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, condition, or limitations of the policy to which this endorsement is attached other than as above stated.
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