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.

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.

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

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.

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

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

BOTH TO BLAME - Marine cargo

In the event the bill of lading and/or charterer party for merchandise insured hereunder contain the so called “both to blame collsion clause” or similar clause, the Insurer agree as to all losses covered by this insurance to indemnify the Assured for the amount which the they are legally bound to pay the except for common ownership, management, agency or other interest.

AIR CRAFT CLAUSE

Marine cargo Wherever the words “ship”, “vessel”, “seaworthiness”, “Shipowner”, or “vessel owner” appear in this policy, they are deemed to include also the words “aircraft”, “airworthiness” and “aircraft owner”

INSTITUTE REPLACEMENT CLAUSE - PADA ASURANSI ANGKUTAN, ASURANSI PENGIRIMAN BARANG

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.