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.
Where the subject-matter insured hereunder (or any apportionable part) becomes missing and after the lapse of a reasonable time has not been located, an actual total loss of the subject-matter insured (or any apportionable party) may be presumed. For the purposes of this insurance, there shall be deemed to have been the lapse of a reasonable time where delivery to the consignees’ or other final warehouse or place of storage at the destination named herein has not been effected within 90 days of the expected date of such delivery. If, after the payment by the Insurer(s) of an actual total loss as provided for above, this subject-matter insured or whatever may remain thereof is located, the ownership and all proprietary rights incidental thereto shall be vested is the Insurer(s) the subject-matter insured of whatever may remain thereof.