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.
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.
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