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.
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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