Archive for the ‘C-Clauses’ Category

Co-Insurance Clause

________________________ will follow _______________________, in all matters relating to this Policy. All subsequent endorsements or amendments to this Policy shall be signed by ________________________ on behalf of each of Us. It is hereby understood and agreed that We referred to in this Policy are as follow: Insurer   Proportion   Company Stamp       %     (Lead Co-Insurer)            ... Full story

Conveyancers Endorsement

It is hereby understood and agreed that We will not pay for any Claim directly or indirectly arising out of, in consequence of, or contributed to by the provision of conveyancing services where You act for both parties in the property conveyancing transaction. Full story

Claims Control Clause

It is hereby understood and agreed that it is a condition precedent to any liability under this Policy that: the reinsured shall, upon knowledge of any circumstances which may give rise to a claim against this Policy, advise the reinsurers in writing immediately and in any event within fourteen (14) days; the reinsured shall furnish the reinsurers with all information with regards to any claim ... Full story

Cancellation and Abandonment Exclusion

It is hereby understood and agreed that We will not pay for any Claim directly or indirectly arising out of, in consequence of, or contributed to by the cancellation, delay or abandonment of any event, meeting, conference or any other function. Full story

Contingent Liability for Non-owned and Hired Autos

The Insurer will indemnify the Insured in respect of accidental injury to any person and/or accidental loss of or damage to property arising out of the use of any motor vehicle not the property of or provided by the Insured and being used for the purpose of the Business. Provided that this extension shall not apply to : (a)      damage to any such vehicle or to property ... Full story

Conflict of Interest

It is hereby understood and agreed that Weshall not be liable under this Policy to indemnify the Insured in respect of any Claim directly or indirectly based upon, attributable to or in consequence of any actual or alleged conflict of interest, including but not limited to: (a)    the inducement, recommendation or endorsement  of investment or lending of funds in the Insured itself or its parent entity, ... Full story

Construction Exclusion

It is hereby understood and agreed that We will not pay for any Claim directly or indirectly arising out of, in consequence of, or contributed to by physical construction by You or on Your behalf. Full story

Consequential Loss Exclusion

It is hereby understood and agreed that We will not pay for any liability directly arising out ofconsequential losses other than consequential losses flowing from personal injury. Full story

COVER FOR DESIGNER’S RISK

It is agreed and understood that otherwise subject to the terms, exclusion, provisions and conditions contained in the policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, exclusion C under Special Exclusions to section I of the Policy shall be deleted and exclusion d replaced by the following wording: “d the cost of replacement, repair or rectification of loss of ... Full story

CLAIM SETTLEMENT CLAUSE

Insurers shall under this section, subject to the terms and conditions of the Policy, indemnity the Insured on the basis of the full cost of repairing, reinstating, or replacing property lost or damage even though such costs may vary from the original construction costs excluding Value Added Tax (PPN) It is agreed that all money properly due in settlement of claim under this section ... Full story

CROSS LIABILITIES CLAUSE

It is agreed and understood that otherwise 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, the Third Party Liability cover of the policy shall apply to the insured parties named in the schedule as if a separate policy had been issued to each party, provided that the Insurers ... Full story

CONTINGENT LIABILITY FOR CONTRACTOR AND SUB-CONTRACTOR INCLUDING DURING LOADING/PROCESS ON-SHORE AND OFF-SHORE (Limited to the damage to the vessel structure)

It is hereby declared and agreed that this Policy is extended to indemnify the Insure against legal liability in respect of property damage/physical damage to vessels operated/owned by the Third Party(ies) arising out of and in the course of loading and unloading operations but in no case the liability of the Insurer under this Clause shall add to the total limit of liability specified in ... Full story

CANCELLATION CLAUSE (30 DAYS)

With the Insurer and the Insured are entitled to terminate this insurance upon 30 (thirty) days notice in writing being given. Such termination should be effected by a registered letter. When the Insurer terminates the insurance, he is obligated to give a pro-rata return premium for the unexpired period of insurance. If it is the Insured who terminates the insurance, premium will be ... Full story

CLOSURE BY PUBLIC AUTHORITIES CLAUSE

It is hereby declared and agreed that loss as insured by this policy resulting from interruption or interference with the Business directly or indirectly arising from closure or evacuation of the whole or part of the premises by order of a competent public authority due to the operation of the cause insured by this policy shall be deemed to be loss resulting from Damage to ... Full story

CONTAINER DEMURRAGE CLAUSE

This policy shall cover demurrage charge and/or late penalties assessed against, and paid by, the assured or late return of containers when said containers are retained by the assured at the instruction of the underwriters for inspection by the underwriters surveyor or in investigation of loss or damage under this policy. The time period for whiich underwriters shall be liable for said charges ... Full story

CONCEALED DAMAGE CLAUSE

It is hereby declared and agreed that the insurance under this policy shall include undiscovered loss or damage the interest may have incurred during the transit in the event of packages not being opened within 60 days after arrival at final destination. Warranted that any package which is delivered in an externally damage condition will be opened and examined immediately. Full story

CARGO ISPS FORWADING CHARGES CLAUSE (WITH NO ADDITIONAL PREMIUM) 4/11/04 (JC 2004/050B)

(For use only with JCC Cargo ISPS Endorsement (JC2004/050) In consideration of an additional premium to be agreed, this insurance is extended to reimburse the Assured, up to the limit of the sum insured for the voyage, for any extra charges properly and reasonably incurred in unloading, storing and forwarding the subject-matter to the destination to which it ... Full story

CARGO ISPS ENDORSEMENT 4/11/04 (JC 2004/050)

In no case shall this insurance cover loss, damage or expense where the subject matter insured is carried by a vessel that does not hold a valid International Ship Security Certificate as required under the International Ship and Port Security (ISPS) Code when, at the time of loading of the subject matter insured on board the vessel, the Insured were aware, ... Full story

CARGO ISM FORWARDING CHARGES CLAUSES JC 98/023 4/6/98, as herein

This insurance is extended to reimburse the Insured, up to the limit of the sum insured for the voyage, for any extra charges properly and reasonable incurred in unloading, storing and forwarding the subject-matter to the destination to which it is insured hereunder following release of cargo from a vessel arrested or detained at or diverted to any other port of ... Full story

CARGO ISM ENDORSEMENT

Applicable to shipments on board Ro-Ro passenger ferries. Applicable with effect from 1 July 1998 to shipments on board : passenger vessels transporting more than 12 passengers and oil tankers, chemical tankers, gas carriers, bulk carries and cargo high speed craft of 500 gt or more Applicable with effect from 1 July 2002 ... Full story

CAR PARK CLAUSE

This policy is extended to cover the legal liability of the Insured in respect of loss or damage to vehicles under the control of the Insured or the Insured’s Parking Attendants whilst in the Car Park of the Insured. PROVIDED ALWAYS THAT: The Company shall not be liable for any such loss or damage ... Full story

COMPUTER SERVICES-LOSS OF DATA / ERRORS OR OMISSIONS EXCLUSIONS (BL 49)

It is agreed and declared that this Policy shall not apply to liability for any claims in respect of Property Damage to computer data resulting from the use of any computer hardware and/or computer software products of the Insured. It is further agreed and declared that this Policy shall not apply to liability for any claims based on or arising ... Full story

CONSTRUCTION ACTIVITIES ENDORSEMENT

This Policy does not cover liability in respect of Personal Injury or Property Damage arising directly or indirectly out of or caused by or in connection with construction activities. This exclusion does not apply to site preparation. Other than as amended above the terms, conditions and exclusions of this Policy shall continue to apply. Full story

COMBINED SINGLE LIMIT

As respect such insurance as is afforded under this policy, the company’s limit of liability shall be one combined limit of US$ 20,000,000.00 under either or all coverage, for all damages, including care and loss of services arising out of bodily injury, sickness or disease including death at any time resulting there from and for all damages arising out of injury ... Full story

Cyber Virus Exclusion – Electronic Data Endorsement A

Electronic Data Exclusion Notwithstanding any provision to the contrary within the Policy or any endorsement thereto, it is understood and agreed as follows : This Policy does not insured loss, damage, destruction, distortion, erasure, corruption or alteration of ELECTRONIC DATA from any cause whatsoever (including but not limited to COMPUTER ... Full story

Cut – Through Clause

The Reinsures and the Reassured hereby agree that if the Reassured shall at any time be placed in the hand of a receiver, assignee or trustee for the purpose of liquidation on account of insolvency, and if written notice be given to the Reinsures of said happening, their successors in the Reinsures in lieu of payment to the Reassured, their successors ... Full story

Customer Supplier Extension Clause

If the business of the payment of an additional premium which is included in the premium hereon it is hereby declared and agreed that subject to the conditions of this Policy, loss as insured by this Policy, resulting from interruption or interference with the Insured's business in consequence of loss or damage to property at any of the Insured’s customer’s/purchaser's premises ... Full story

Currency Clause

In case of a claim, the US$ exchange rate should be calculated based on the Average of 90 days immediately before the date of the accident, based on Central Bank  of Indonesia’s (BI) middle exchange rate. Full story

Cover for Existing / Surrounding Property

It is understood and agreed that Section I is extended as follows: - The Insurers hereby agree that if at any time during the Period of Insurance the Existing Property of the Principal located on or adjoining the Project Site (as defined in the Schedule) shall suffer physical loss or damage arising in connection with the construction, erection, ... Full story

Constructive Total Loss

Notwithstanding anything herein contained in section I of this policy to the contrary, it is hereby declared and agreed that the insurance provided by this policy shall only cover the Total Loss of the motor vehicle Insured directly caused by accident, Fire or theft as defined in the Policy. In the event the equipment insured is damaged due ... Full story

Cost of Rewriting and Claim Preparation

This policy extends to cover the cost and expenses necessarily and reasonably incurred by the Insured following loss or damage to the Property insured. To reconstruct and recompile recor0d (but not for the value to the Insured of the insured information contained therein) To extract and compile information required by the Insured(s) from the Insured’s ... Full story

Cost of Re-Erection Clause

The insurance by this policy extends to cover the cost of re-erecting, fitting and fixing machinery or plant destroyed or damage by fire or by any other peril hereby insured against providing always that the liability of the Insurer shall not exceed the sum insured of such machinery or plant under this Policy. Full story

Contracts rights and liabilities

All loss, damage or liability directly or indirectly arising from the contracts works prior to the inception of this policy is excluded. This also excludes all consequential loss and legal liability that may have arisen or will arise due to the works performed by the previous contractors of any tiers and/or other contracting entities. The rights and liabilities ... Full story

Cold and Hot Testing, and Commissioning Clause

For the purposes of this Policy, “cold testing”, “hot testing”, and “commissioning” shall have the following meanings, Cold testing The checking of component parts of insured plant or machinery by mechanical, electrical, hydrostatic or other forms of testing under “dry run” conditions to ensure that the items work, but without the firing of furnaces ... Full story

Co Insurance Clause_2

Any agreement or decision which may be made between the Insured and PT. Tugu Pratama Indonesia, in connection with this Co-Insurance shall be final and binding upon all Co-Insurers. PT.  Tugu Pratama Indonesia as the representative of Co-Insurers shall attend to all matters connected with this Co-Insurance, but premium collection and claim settlements are handled by ... Full story

Co-Insurance Clause_1

I .       The subscription hereto of the Co-Insurance is as follows:- PT.A for xx% share PT.B for xx% share PT.C for xx% share Being Co-Insurers of the under mentioned Insurance Companies, they shall each  for themselves and not one for the other, severally and independently have rights and ... Full story

Clarification Agreement Clause

Property damage covered under this Policy shall mean physical damage to the substance of property. Physical damage to the substance of property shall not include damage to data of software, in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure.... Full story

Claims Cooperation Clause

Notwithstanding anything contained herein to the contrary, under this policy: The Re-Insured shall, upon knowledge of any loss(es) or occurrence(s) which may give rise to a claim recoverable hereunder, advise the Re-Insurers thereof as soon as practicable – but in any case no later than 14 days after such loss or occurrence. The Re-Insured shall ... Full story

Claim Settlement Clause

Notwithstanding anything to the contrary herein: The insured shall, upon knowledge of any loss or losses which may give rise to a claim under this Policy, immediately advise the Insurer, in writing. The Insured shall furnish the Insurer all information available with respect to such loss or losses and the Insurer shall not ... Full story

Claim Preparation Clause

This Policy extends to include costs and expenses necessarily and reasonably incurred by the Insured following a loss or damage to the property insured: To reconstruct and recompile records (but not for the value to the Insured of the information contained therein) to extract and compile information required by the Insurers from the ... Full story

Claim Appraisement Clause

If the aggregate claim for any one loss does not exceed five per cent (5%) of the sum insured by the item or items affected (whichever may be the less) no special inventory or appraisement of the undamaged property shall be required. If two or more buildings be included in a single item, this provision shall apply to ... Full story

Choice of Law and Jurisdiction Clause

Notwithstanding any provisions of the policy with respect to applicable law and jurisdiction, any dispute between the Insured and Underwriters relating to this Policy or to a claim (including but not limited thereto, the interpretation of any provision of the Policy) shall be governed by and construed in accordance with the laws of Indonesia / English Law. Each ... Full story

Cancellation Clause

Both the insurer and the insured are entitled to terminate insurance upon 30 (thirty) days notice in writing being given. Such termination should be effected on the registered letter. When the Insurer terminates the insurance, he is obliged to return pro rata premium for the unexpired period of insurance. If it is the insured who terminates the insurance, ... Full story

CUSTOMER EXTENSION CLAUSE

In consideration of the payment of an additional premium which is included in the premium hereon it is hereby declared and agreed that, subject to the conditions of the policy loss as insured under this policy resulting from interruption of or interference with the insured’s business in consequences of fire, lightning, aircraft, volcanic eruption, earthquake, riots and strikes and malicious damage ... Full story

CLAIM PREPARATION COST CLAUSE (sub limit IDR 500,000,000 any one loss or series of losses arising from any one event)

The insurance under this item is to cover such reasonable professional fees payable by the insured to their financial adviser (including fees of accountants, loss adjusters and/or valuer’s appointed by the insured) and such other reasonable expenses necessarily incurred by the Insured and not otherwise recoverable, for preparation of claims and proving the loss under section 1 and 2 of the ... Full story

CLAIM PREPARATION FEES CLAUSE

This insurance is extended to cover costs and expenses reasonably incurred by the insured following loss or damage to the property insured to extract and compile information required by the company from the insured’s own records for the purpose of preparing a claim under the policy but excluding legal, investigation and research fees/ expenses incurred for the purpose of contesting any ... Full story

CUSTOMERS EXTENSION

Subject to the Conditions of the Policy loss as insured by this Policy resulting from interruption of or interference of or interference with the  business in consequence of damage (as within defined) to property on the premises of the Insured’s customer (s) at the undernoted situation shall be  deemed to be loss resulting from damage to property used by the Insured ... Full story

CYBER RISKS EXCLUSION CLAUSE (NMA 2915)

Losses arising, directly or indirectly out of (i)            loss of, alteration of or damage to                 Or (ii)           a reduction in the functionality, availability or operation of A computer system, hardware, programmed, software, data, information repository, microchip, integrated circuit or similar device in computer equipment or non-computer equipment, whether ... Full story

CYBER NON – AGGREGATION CLAUSE (NMA2915)

Losses arising directly or indirectly out of Loss of, alteration of or damage to A reduction in the functionally availability or operation of A computer system, hardware program, software data information repository microchip integrated circuit or similar device in computer equipment or non computer equipment whether the property of the policy holder ... Full story

CUSTOMERS’ GOODS CLAUSE

It is hereby declared and agree notwithstanding anything contained in the within policy to the contrary but subject to its terms, limitations and conditions that as regards customer’ goods.  This Policy indemnifies the Insured against his legal liability for destruction or damage of such property by fire or any other perils hereby insured against. Full story

COVER OF FULL REPLACEMENT VALUE

It is agreed and understood that otherwise subject to terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, where an insured item is totally destroyed or damaged, the basis upon which the amount payable under the Policy is to be calculated shall be the full replacement value of the item destroyed or damage. “Replacement Value” ... Full story

COST OF REWRITING RECORDS AND CLAIM PREPARATION (EVET)

On costs and expenses necessarily and reasonably incurred by the insured following loss or damage to the property insured. To reconstruct and recompile records (but not for the value of the insured of the information contain therein) To extract and compile information required by the company form the insured’s own records for the purpose of ... Full story

COST OF REWRITING RECORDS AND CLAIM PREPARATION

On costs and expenses necessarily and reasonably incurred by the insured following loss or damage to the property insured. To reconstruct and recompile records (but not for the value of the insured of the information contain therein) To extract and compile information required by the company form the insured’s own records for the purpose of ... Full story

CLAIM CONTROL CLAUSE

Notwithstanding anything to the contrary herein: The leader insurer shall upon knowledge of any loss or losses which may give raise to a claim under this policy, immediately advice the member of insurer in writing. Should the potential loss be US$5,000.- or greater, such notification shall be by facsimile. The leader shall ... Full story

CLAIMS MITIGATION CLAUSE

It is agreed that in the event of actual damage (or imminent) to the insured Property, the insurer will pay the reasonably costs necessary in preventing, minimizing or reducing damage to the insured Property, which the insured can prove necessarily incurred immediately and urgently in an emergency.   Full story

COSTS OF CLEARING DRAINS (N-1091)

The following Clause is added to "The Indemnity, Section 1 - Material Loss or Damage": Subject to the liability of the Insurer(s) not being increased beyond the Limit(s) of Liability already stated herein, the Insurer(s) will also indemnify the Insured for costs of clearance of drains including expenses necessarily incurred in clearing and/or repairing drains, gutters, sewers and ... Full story

CONSTRUCTION / ERECTION / ALTERATION / REPAIR WORKS (Limit IDR 5,000,000,000.00 per contract value)

It is hereby declared and agreed that this policy is extended to cover property under construction or erection subject to the project having a contract value of IDR 5,000,000,000.00 or less but cover excludes testing and commissioning absolutely.  This extension in coverage strictly excludes Business Interruption and/or Advance Loss of Profit. Full story

CLOSURE BY PUBLIC AUTHORITIES CLAUSE

It is hereby declared and agreed that loss as Insured by this policy resulting from interruption or interference with the Business directly or indirectly arising from closure or evacuation of the whole or part of the premises by order of a competent public authority due to the operation of the cause insured by this policy shall be deemed to be loss ... Full story

CONTAINER CLAUSE

Notwithstanding anything contained herein to the contrary where Cargo, insured hereunder, is carried in Containers, it is agreed, as between the Assured and Underwriters, that the seaworthiness of the Container is hereby admitted. Full story

CONCEALED DAMAGE CLAUSE

In the event of delay in opening cases, containers or packages, any loss or damage discovered upon opening shall be deemed to have occurred during transit and shall be paid for accordingly unless conclusive proof of the contrary be established. Cases, containers or packages showing outward signs of loss and/or damage are to be opened immediately on arrival.... Full story

COST OF TEMPORARY PROTECTION CLAUSE

It is hereby declared and agreed that this policy is extended to cover the cost of temporary protection up to a limit of S$ 10,000.00 reasonably necessary for the safety and protection of the premises pending repairs/replacement of damage.   Full story

COST OF RECOMPILING RECORDS AND PREPARING CLAIMS CLAUSE

The insurance under the Policy is lited to : cost of recompiling records but only for the value of the materials together with the cost of clerical labour expended in producing such records and reasonable charges incurred by the Insured for producing and certifying any information as may be required by the Indured under the ... Full story

COST OF DEMOLITION & REMOVAL OF DEBRIS & ERECTION OF HOARDINGS CLAUSE

On costs and expenses necessarily incurred by the Insured in the removal of debris, dismantling or demolishing, shoring up or propping of the portion or portions of the property insured and in providing erecting and maintaining any street or pavement hoarding required during demolition, site clearing and/or building operations following destruction of or damage to the property insured by Fire or ... Full story

CIVIL AUTHORITIES CLAUSE

The insurance is extended to cover direct loss or damage to the described property caused by acts of destruction executed by order of any Public Authority at the time of and only during conflagration to retard the spread thereof, and subject to all other terms and conditions of this Policy. This Insurer shall not be liable, nowhere for more than the ... Full story

CANCELLATION CLAUSE (30 DAYS EXCEPT FOR EARTHQUAKE, VOLCANIC ERUPTION AND TSUNAMI WHICH IS 5 DAYS)

Notwithstanding anything contained in the printed conditions of the Policy to the contrary, it is noted and agreed that the Cancellation Clause under this Policy is subject to 30 (thirty) days’ prior notice, except for cancellation of cover against Earthquake, Volcanic Eruption and Tsunami which is subject to 5 (Five) days’ prior notice in writing by registered letter, fax and/or email   Full story

CANCELLATION CLAUSE (30 DAYS EXCEPT FOR RIOTS, STRIKES, MALICIOUS, DAMAGE AND CIVIL COMMOTION WHICH IS 3 DAYS)

Notwithstanding anything contained in the printed conditions of the Policy to the contrary, it is noted and agreed that the Cancellation Clause under this Policy is subject to 30 (thirty) days’ prior notice, except for cancellation of cover against Riots, Strikes, Malicious Damage and Civil Commotion Endorsement (Code : 4.1B/2007) which is subject to 3 (three) days’ prior notice in writing ... Full story

CLAIMS MITIGATION CLAUSE

It is agreed that in the event of actual damage (or imminent) to the insured Property, the insurer will pay the reasonably costs necessary in preventing, minimizing or reducing damage to the insured Property, which the insured can prove necessarily incurred immediately and urgently in an emergency. Full story

CURRENCY EXCHANGE RATE CLAUSE

The premium is payable in the currencies as stated in the policy. The claims are adjusted and payable in the currencies stated in the policy schedule or in the currencies of the respective sums insured by using the middle exchange rate at the date of loss. Full story

CURRENCY CLAUSE

It is hereby understood and agreed that in case a claimable loss hereunder, if any is denominated in currency other than the currency stated in the Policy Schedule, then the conversion rate shall be the middle rate for Bank notes published by the Bank Indonesia on the date of agreement between the insurer and insured as to the amount of loss. Full story

CYBER RISK EXCLUSION (NMA 2915)

Electronic Data Exclusion Notwithstanding any provision to the contrary within the Policy or any endorsement thereto, it is understood and agreed as follows: a) This Policy does not insure loss, damage, destruction, erasure, corruption or alteration of ELECTRONIC DATA from any cause whatsoever (including but not limited to COMPUTER VIRUS) or loss of ... Full story

CYBER NON-AGGREGATION CLAUSE (NMA 2912)

Losses arising directly  or indirectly out of (i)            loss of, alteration of or damage to                 or (ii)           a reduction in the functionallty, availability or operation of a computer system, hardware.  Programme, software, data, information repository, microchip, integrated circuit or similar device in computer equipment or non-computer equipment, whether ... Full story

COMPUTER RECORDS CLAUSE

This insurance includes cover for computer system records but only for the value of the materials together with the cost of clerical labour and computer time expended in reproducing such records (exclusion any expenses in connection with the production of information to be recorded therein) and not for the value to the Insured of the information contained therein for an amount ... Full story

CAPITAL ADDITIONS CLAUSE (Limit – 10% of Sum Insured)

The insurance hereby extends to cover alterations, additions and improvements (but not appreciation in value) in excess of the sums insured for buildings and machinery specified in the Policy for an amount not exceeding 10% of the sums insured thereby or USD ........ Whichever is the less, it is being understood that the Insured undertakes to advise the Insurer each quarter ... Full story

CONTRACT PRICE CLAUSE

In the event of goods insured by this policy having been sold but not delivered for which the insured is responsible and under the conditions of sales the contract is cancelled by reason of non-delivery of such goods destroyed or damaged by fire or any other perils insured hereby, the liability of the company in respect of such goods shall be ... Full story

COVER FOR INTERNAL FIRE, INTERNAL CHEMICAL EXPLOSION AND DIRECT LIGHTNING CLAUSE

It is hereby agreed and understood that otherwise subject to the terms, exclusion, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agree extra premium, this insurance shall be extended to cover loss or damage due to fire or chemical explosion having originated within. Item (s) no ... Full story

CANCELLATION PRORATA PREMIUM CLAUSE

Notwithstanding anything contained to the contrary, it is hereby declared  and agreed that in case of cancellation of the policy, return premium, if any, shall be subject to prorata premium calculation basis. Full story

CLAIM PREPARATION CLAUSE (Maximum limit US$ 50,000.00)

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon this insurance shall be deemed to cover the Insured for all reasonable costs incurred for the preparation of claims provided the Insurer admits liability for the loss or damage. The liability under this clause is limited to .... % ... Full story

CLAIMS MITIGATION CLAUSE

It is agreed that in the event of actual damage (or imminent) to the insured Property, the insurer will pay the reasonably costs necessary in preventing, minimizing or reducing damage to the insured Property, which the insured can prove necessarily incurred immediately and urgently in an emergency. Full story

CLAIMS MITIGATION CLAUSE

It is agreed that in the event of actual damage (or imminent) to the insured Property, the insurer will pay the reasonably costs necessary in preventing, minimizing or reducing damage to the insured Property, which the insured can prove necessarily incurred immediately and urgently in an emergency. Full story

CUSTOMERS GOOD CLAUSE

Notwithstanding anything contained in this Policy to the contrary, this Policy covers goods belonging to the Insured’s customers or customers of others indemnified herein whilst at the premises described herein. Full story

COST OF RE-WRITING RECORDS AND CLAIM PREPARATION CLAUSE (Limit 5% of Sum Insured)

The insurance by this Policy extends to include costs and expenses necessarily and reasonably incurred by the Insured following loss or damage to the property insured : i) to reconstruct and recompile information (but not for the value to the Insured of the information contained therein) ii) to extract and compile information required by the ... Full story

COST OF RE-ERECTION CLAUSE

The insurance by this Policy extends to cover the cost of re-erecting, fitting and fixing machinery or plant destroyed or damaged by fire or by any other peril hereby insured against providing always that the liability of the Insurer shall not exceed the sum insured of such machinery or plant under this Policy. Full story

CLAIM SETTLEMENT CLAUSE

It is hereby noted and agreed that valid claim (if any) under this policy shall be settled by the Insurers as soon as practicable but not later than 30 days from agreement between Insurer and Insured  after a written notification of such loss including supporting documents have been received by the Insurers Full story

CLAIM SETTLEMENT CLAUSE

Insurers shall under this section, subject to the terms and conditions of the Policy, indemnity the Insured on the basis of the full cost of repairing, reinstating, or replacing property lost or damage even though such costs may vary from the original construction costs excluding Value Added Tax (PPN) It is agreed that all money properly ... Full story

CLAIM PREPARATION CLAUSE (25% of loss)

The insurance under this item is to cover such reasonable professional fees payable by the insured to theif financial adviser (including fees of accountants, loss adjusters and/or valuers appointed by the Insured) and such other reasonable expenses necessarily incurred by the Insured and not otherwise recoverable, for preparation of claims and proving the loss under section 1 and 2 of the ... Full story

COMPLIANCE CLAUSE

This policy has complied with prevailing laws and regulations including regulations of Financial Service Authority. Full story

CHANGE OF PRODUCT

If during the policy period there are alterations which affect the amount of premium, insurance benefits, or the provisions of this product, We will submit a thirty (30) days prior written notice to your address kept in our records to let you decide whether You agree or not to such alterations. If within thirty (30) days after the written notice is ... Full story

Claim Procedure & Important Clause for Hull & Machinery and Protection & Indemnity Insurances

1.  Notice of Loss/Damage Notwithstanding the terms and condition of the policy, it is noted and agreed that in the event of any loss or damage which may give rise to a claim under the policy, the Notice of Loss or Damage shall be made available to the underwriter within 14 (fourteen) days since the date of loss ... Full story

NMA 2915 : Cyber Exclusion

Notwithstanding anything contained to the contrary herein this policy does not cover loss, damage, destruction, distortion, erasure, corruption or alteration of electronic data from any cause whatsoever (including but not limited to computer virus) or loss of use, reduction in functionality, cost, expense of whatsoever nature resulting therefrom regardless of any other cause or event contributing concurrently or in any other ... Full story

COST OF RE-ERECTION CLAUSE

The insurance by this Policy extends to cover the cost of re-erecting, fitting and fixing machinery or plant destroyed or damaged by fire or by any other peril hereby insured against providing always that the liability of the Insurer shall not exceed the sum insured of such machinery or plant under this Policy. KLAUSUL BIAYA PEMASANGAN ... Full story

COMPUTER RECORDS CLAUSE

This insurance includes cover for computer system records but only for the value of the materials together with the cost of clerical labour and computer time expended in reproducing such records (excluding any expenses in connection with the production of information to be recorded therein) and not for the value to the Insured of the information contained therein for an amount ... Full story

CIVIL AUTHORITIES CLAUSE

The insurance is extended to cover direct loss or damage to the described property caused by acts of destruction executed by order of any Public Authority at the time of and only during a conflagration to retard the spread thereof, and subject to all other terms and conditions of this Policy. This Insurer shall not be liable, however, for more than ... Full story

CAPITAL ADDITIONS CLAUSE

The insurance hereby extends to cover alterations, additions and improvements (but not appreciation in value) in excess of the sums insured for buildings and machinery specified in the Policy for an amount not exceeding 10% of the sums insured thereby or Rp ….*……….,.. whichever is the less, it is being understood that the Insured undertakes to advise the Insurer each quarter ... Full story

CANCELLATION AND ABANDONMENT EXCLUSION

It is hereby understood and agreed that Insurers shall not be liable under this Policy to provide indemnity for any Claim directly or indirectly arising out of, in consequence of, or contributed to by the cancellation, delay or abandonment of any event, meeting, conference or any other function. Full story

CLINICAL TRIAL EXCLUSION CLAUSE

This Policy does not cover liability in respect of Personal Injury or Property Damage directly or indirectly caused by, contributed to by or arising out of any clinical trial activities performed by the Insured or on the Insured’s behalf. Full story

CONSTRUCTION EXCLUSION CLAUSE

This Policy does not cover liability in respect of Personal Injury or Property Damage arising directly or indirectly out of or caused by or in connection with the erection, demolition, alteration of and/or addition to buildings by the Insured  or on the Insured’s  behalf. Full story

Contractual Liability Clause

It is agreed and understood that subject to the Insured having paid the agreed additional premium, the company shall indemnify the Insured against any claim made in respect of liability assumed by the Insured under any contract or agreement for bodily injury of and/ or property damage to any third party subject to the limits of liability stipulated in this policy ... Full story

Cross Liability Clause

It is agreed and understood that subject to the Insured having paid the agreed additional premium, this insurance shall apply to each insured party as if a separate policy had been issued to each party. Provided always that the aggregate liability of the company for any one accident shall not exceed the limit of indemnity stipulated in the ... Full story

COMPUTER SERVICES-LOSS OF DATA / ERRORS OR OMISSIONS EXCLUSIONS (BL 49)

It is agreed and declared that this Policy shall not apply to liability for any claims in respect of Property Damage to computer data resulting from the use of any computer hardware and/or computer software products of the Insured. It is further agreed and declared that this Policy shall not apply to liability for any claims based on ... Full story

CASUAL CONTRACTOR CLAUSE

It is hereby declared and agreed that the Insurance is extended to cover insured’s legal liability for injury, illness, loss or damage caused by any of the Insured’s casual contractors and happening in connection with the carrying out of work by them for the insured. Full story
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