Showing posts with label NSURANCE CLAUSES. Show all posts
Showing posts with label NSURANCE CLAUSES. Show all posts

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.

BRAND AND LABEL CLAUSE

If branded or labeled merchandise covered by this Policy is damage, and the Insurer elects to take all or any of such merchandise at the agreed or appraised Value, the Insured may, at his own expense, stamp “salvage” on the merchandise or its container or may remove the brands or label, if such stamp or removal of brand or label will not physically damage the merchandise but the Insured shall at its own cost re-label the merchandise or containers in compliance with all of the requirements the applicable law.