Archive for the ‘I-Clauses’ Category

Intentional Acts Endorsement

It is hereby understood and agreed that Automatic Extension 4.5 Intentional Acts is deleted in its entirety and replaced with the following: Intentional Acts – We will cover You for Claims in relation to Your conduct or the conduct of Your Employees, contractors or consultants which would otherwise have been excluded by Exclusion 6.5 Intentional Acts (Fraudulent, Dishonest and Criminal Acts and Statutory Breaches) provided that: ... Full story

Insolvency Exclusion

It is hereby understood and agreed that We shall not be liable for any Claim directly or indirectly arising out of, in consequence of, or contributed to by the insolvency of any of You.   Full story

Intellectual Property Exclusion

It is hereby understood and agreed that notwithstanding Scope of Cover 3.4 Infringement of Intellectual Property Rights, We will not pay for any Claim directly or indirectly arising out of, in consequence of, or contributed to by any infringement of copyright, trademarks, registered designs or patents, or any plagiarism. Full story

Intellectual Property Exclusion

It is hereby understood and agreed that notwithstanding Scope of Cover 3.4 Infringement of Intellectual Property Rights, We will not pay for any Claim directly or indirectly arising out of, in consequence of, or contributed to by any infringement of copyright, trademarks, registered designs or patents, or any plagiarism. Full story

INFORMATION TECHNOLOGY HAZARDS, COMPUTER DATA, PROGRAM AND STORAGE MEDIA EXCLUSION

This Policy does not cover liability in respect of Personal Injury or Property Damage arising, directly or indirectly, out of, or in any way involving the Insured’s “Internet Operations”. This exclusion does not apply to Personal Injury or Property Damage arising out of any material which is already in print by the manufacturer in support of its product, including but not limited to product use and ... Full story

INLAND TRANSIT (IDR 2,000,000,000 for each conveyance and within Jabotabek only)

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, Section I of this insurance shall be extended to cover loss of or damage to the property insured whilst in transit to the contract site other than on waterways or by air ... Full story

INSURED’S CONSULTANS CLAUSE

"Notwithstanding anything contrary within this policy, it is agreed that the Insured's consultants and other Professional Advisors including Board of Directors of Principal (as owner's representative) who are in charge in the project shall be deemed to be Third Parties". Full story

INCREASE CLAUSE ( LIMIT 10% of contract value)

If during the period of insurance actual the Total Project value shall be in excess of the estimated Total Value the Total Sum Insured under this Policy shall be automatically increased by the amount of such excess but not exceeding in all 10% of contract  value shown in the schedule and the Insured shall make to Insurers an additional premium payment in respect of such ... Full story

INDONESIAN JURISDICTION CLAUSE

It is understood and agreed that the insurers will be under no liability on respect of Compensation or injury loss or damage in respect of judgments delivered or obtained otherwise than through a court of competent jurisdiction within the Republic of Indonesia Cost and expenses of litigation recovered by any claimant from the insured which are not incurred and recoverable in the Republic of Indonesia Cost ... Full story

10/11/2003 INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION

This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from:             1.1        Ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the ... Full story

INFECTIOUS OR CONTAGIOUS DISEASE, MURDER OR SUICIDE CLAUSE (Limit USD. ….. / …days time excess)

It is hereby declared and agreed that the insurance by this Policy is extended to cover loss as insured hereunder resulting from interruption of or interference with the business carried on by the Insured at the premises in direct consequence of : (i)   An outbreak of infectious or contagious disease manifested by any person whilst at the premises (ii)   Murder or Suicide occurring at the Premises (iii)  Injury ... Full story

INNKEEPER’S LIABILITY

All sum which the Insured shall become obligated to pay by reason of liability for damages because of injury to, destruction of, or loss or property (including automobiles and contents therein) belonging to a person at the premises, or in the possession of the Insured   Full story

INSOLVENCY EXCLUSION CLAUSE

It is hereby agreed that the exclusion “loss damage or expense arising from insolvency or financial default of the owners, managers, charterers or operators of the vessel or aircraft” (incorporated in the Institute Clauses herein) is amended to read as follows: “In no case shall this insurance cover loss, damage, or expense arising from insolvency or financial default of the owners, managers, charterers or operators of ... Full story

INSOLVENCY EXCLUSION CLAUSE

It is hereby agreed that the exclusion “loss damage or expense arising from insolvency or financial default of the owners, managers, charterers or operators of the vessel or aircraft” (incorporated in the Institute Clauses herein) is amended to read as follows: “In no case shall this insurance cover loss, damage, or expense arising from insolvency or financial default of the owners, managers, ... Full story

INCREASED VALUE (DUTY AND/OR TAXES) CLAUSE

To cover increased value of cargo by reason of payment of duty and/or taxes at the port or place destination but to apply only as such duty and/or taxes are imposed. Subject to the same clauses and conditions as the insurance on cargo and to pay the same percentage of loss (excluding charges and expenses) as the original insurance but excluding claims in ... Full story

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 or repair of such part or parts plus charges for forwarding and refitting, if incurred, but excluding duty unless the full duty shall also recoverable.... Full story

Insured’s Consultant (Including Board of Directors of Principals or owner’s representation) Clause

It is agreed that the Insured’s consultants and other professional advisors shall be deemed to be third parties. Full story

Installation and Maintenance Clause

The Insured shall fully comply with all Government / Statutory Rules and Regulations, which are in force concerning the installation and operation of Insured Property. The Insured shall take all necessary steps to maintain Insured Property in efficient working order and to ensure that at all times any item is not habitually or intentionally overloaded. Full story

Infectious Diseases and Closure Extension

It is hereby understood and agreed that the insurance by this Section of this Policy is extended to include loss as insured hereunder directly resulting from interruption of or interference with the Business in consequences of: (a)   Infectious or contagious diseases manifested by any person whilst at the insured locations; (b)   Closing of the whole ... Full story

Industries, Seepage, Pollution and Contamination Exclusion

This Insurance does not cover any liability for: Personal insurance or Bodily Injury or loss of, damage to, or loss of use of property directly or indirectly caused by seepage, pollution or contamination, The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances. Fines, penalties, punitive or ... Full story

Indonesian Jurisdiction Clause

It is understood and agreed that the Insurers will be under no liability in respect of : (i)    Compensation for injury loss or damage in respect of judgments delivered or obtained otherwise than through a         court of competent jurisdiction within the Republic of Indonesia (ii)   Costs and expenses of litigation ... Full story

IMPACT OF SHIPPING

This policy does not cover loss of or damage caused by impact of shipping. Full story

INCREASE BUSINESS CLAUSE (10%)

In the event of the  gross  profit earned during any annual period of insurance (or during) the accounting period of twelve months most nearly concurrent with any period of insurance), as certified by the insured thereof an a prorata additional premium not exceeding 10 percent the premium paid on such sum insured from such period of Insurance will be charges in ... Full story

INTERESTS OF OTHER PARTIES

The insurable interest of only those lessors, financiers, trustees, mortgagees, owners and all other parties specifically noted in the records of the Insured shall be automatically included without notification or specification; the nature and extent of such interest to be disclosed in event of damage. Where the insurance covers the interest of more than one party, any act ... Full story

INFECTIOUS OR CONTAGIOUS DISEASE, MURDER OR SUICIDE CLAUSE (Limit USD. ….. / …days time excess)

It is hereby declared and agreed that the insurance by this Policy is extended to cover loss as insured hereunder resulting from interruption of or interference with the business carried on by the Insured at the premises in direct consequence of : (i)    An outbreak of infectious or contagious disease manifested by any person whilst at the premise... Full story

IT HAZARD CLARIFICATION 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 or 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

INSURABLE INTEREST CLAUSE

Notwithstanding that the interest insured hereunder may be purchased on “Free on Board” and/or “Cost and Freight” and/or “Free Along Side” or similar terms, it is agreed that the risk hereunder shall attach from the time of handling for the purposes of loading onto the carrying vehicle at the Suppliers Premises; the Assured subrogating to Underwriters any rights of recovery they ... Full story

INSURANCE OF PINALTIES

This Insurance shall not indemnity the Insured in respect of penalties such as for breach of contract or for delayed execution of orders. Full story

INFLATION PROVISION (ESCALATOR) – 15%

It is hereby declared and agreed that the Sum Insured by each of the Said  item shall during each period of insurance be increased  by the proportion of the specified percentage which the number of days since the commencement of such period shall bear to the while of such period. Unless specifically agreed to the contrary the provisions ... Full story

INTERNAL REMOVAL CLAUSE

it is understood and agreed that in the event of removal of property from one building to another at any of the situations covered by this policy being inadvertently not advised to the Insurer, the insurance on such property shall follow removal, the necessary adjustments in sum Insured and premium being made as from the date of removal as soon as ... Full story

INTERESTS OF OTHER PARTIES

The insurable interest of only those lessors, financiers, trustees, mortgages, owners and all other parties specifically noted in the records of the Insured shall be automatically included without notification or specification; the nature and extent of such interest to be disclosed in event of damage. Where the insurance covers the interest of more than one party, any act ... Full story

IMPACT BY OWN VEHICLE

It is noted and agreed that the cover relating to impact of vehicles shall include vehicles owned or used by the Insured Full story

INLAND TRANSIT COVERAGE SUBJECT TO A USD 350,000.00 ANY ONE CONVEYANCE AND USD 2,000,000.00 IN ANNUAL AGGREGATE

This insurance is against All Risks of Loss of or Damage to the subject matter insured hereby whilst in ordinary or customary course or transit but shall in no case be deemd to extend to cover loss damage or expense proximately caused by delay or interent vice or nature of the subject-matter insured Full story

INFECTIOUS OR CONTAGIOUS DISEASE, FOOD OR DRINK POISONING; MURDER, SUICIDE POLICY EXTENSION CLAUSE

Loss as insured by this Policy resulting from interruption of or interference with the business directly arising from an occurrence or outbreak at the Insured’s premises only and limited to : Closure or evacuation of the whole or part of the Premises by order of any Government, Local Government or other Statutory Authority consequent upon : (a) Any occurrence of Notifiable Disease (as defined below) at ... Full story

INTERPRETATION CLAUSE

In the event of any conflict of interpretation between the various clauses and conditions contained in this Policy, the broadest and least restrictive wording to the benefit of the Insured shall always prevail. Notwithstanding the foregoing, in the event that any provision of this Policy is unenforceable by the Insured under the laws of any Nation or other ... Full story

INHIBITION COSTS CLAUSE

The  sum  insured  are  deemed  to  include the value of the property  insured  which is damaged or destroyed in order to extinguish   or   inhibit   the  spread  of  fire  or  other catastrophe insured against herein. Full story

INDONESIAN JURISDICTION CLAUSE

The Indemnity provided herein shall not apply to: Compensation for damage in respect of judgments not delivered or obtained from a court of competent jurisdiction within Indonesia. Costs and expenses of litigation recovered by any claimant from the Insured, which are not incurred in and recoverable in Indonesia Subject otherwise to the ... Full story

IMPACT BY OWN VEHICLES CLAUSE

It is noted and agreed that the cover relating to impact of vehicles shall include vehicles owned or used by the Insured.   KLAUSUL AKIBAT TERTABRAK KENDARAAN SENDIRI Dengan ini dicatat dan disetujui, bahwa jaminan akibat tertabrak kendaraan-kendaraan termasuk tertabrak kendaraan yang dimiliki atau yang digunakan oleh Tertanggung sendiri. Full story

INTERNAL REMOVAL CLAUSE

It is understood and agreed that in the event of removal of property from one building to another at any of the situations covered by this Policy being inadvertently not advised to the Insurer, the insurance on such property shall follow removal, the necessary adjustments in Sum Insured and premium being made as from the date of removal as soon as ... Full story

INCREASE BUSINESS CLAUSE

In the event of the  gross  profit earned during any annual period of insurance (or during) the accounting period of twelve months most nearly concurrent with any period of insurance), as certified by the insured thereof an a prorata additional premium not exceeding 10 percent the premium paid on such sum insured from such period of Insurance will be charges in ... Full story

INDONESIA JURISDICTION CLAUSE

The Indemnity provided herein shall not apply to: Compensation for damage in respect of judgements not delivered or obtained from a court of competent jurisdiction within Indonesia. Costs and expenses of litigation recovered by any claimant from the Insured which are not incurred in and recoverable in Indonesia Subject otherwise to the terms, exceptions ... Full story

INDEMNITY DIRECTORS AND EXECUTIVE CLAUSE

If any claim is made upon any Director and/or Executives of the Insured and the claim is such that if made; upon the Insured the Insured would be entitled to indemnity under this Policy, the company will in the terms of and subject to the limitations of this Policy, indemnify the said Directors and/or Executives of the Insured in respect of ... Full story

INDEMNITY TO PRINCIPALS CLAUSE

As far as concerns injury illness loss or damage for which the Insured is responsible and happening in connection with the carrying out of work for any Principal, the Company will at the request of the Insured treat the Principals as though the he were also the Insured under this Policy. Provided that the Principal shall observe, fulfil ... Full story

INTERESTS OF OTHER PARTIES

The insurable interest of Finance Parties and their Agents, Lessors, Trustees, Mortgages, Owners, and all other parties as specifically noted in the records of the Insured shall be automatically included without notification or specification. Where the insurance covers the interest of more than one party, any act, error, omission or neglect whereby the risk of damage has increased, ... Full story

INCIDENTAL TRAVEL CLAUSE

It is hereby declared and agreed that this Policy extends to cover legal liability of the Insured as within defined in respect of business trips overseas by directors or senior employees and/or employees of the Insured.  Full story

INSURED CATERING CLAUSE

It is agreed that this policy shall extend to indemnify the Insured against which the insured shall become legally liable to pay as compensation in respect of death or bodily injury or illness of any person caused by outside catering carried on by the insured away from the premises as described in this policy. Subject otherwise to the terms, conditions and ... Full story

INTERNAL REMOVAL CLAUSE

INTERNAL REMOVAL CLAUSE It is understood and agreed that in the event of removal of property from one building to another at any of the situations covered Full story
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