Archive for the ‘News’ Category

KECELAKAAN FATAL ATAS TERTANGGUNG DAN PASANGANNYA

Polis ini menjamin risiko Kematian yang secara langsung disebabkan oleh suatu kecelakaan yaitu suatu kejadian atau peristiwa yang mengandung unsur kekerasan baik yang bersifat fisik maupun kimia, yang datangnya secara tiba-tiba, tidak dikehendaki atau direncanakan, dari luar, terlihat, langsung terhadap Tertanggung dan/atau Pasangan Sahnya yang seketika itu mengakibatkan luka badani yang sifat dan tempatnya dapat ditentukan oleh Ilmu Kedokteran, termasuk:... Full story

TEMPORARY ACCOMMODATION COST CLAUSE

It is hereby agreed that this Policy is extended to indemnify the Insured for a reasonable temporary accommodation cost incurred by the Insured, in case the Building located in the Situation is temporarily inhabitable  as  a  result  of  loss  or  damaged  covered under this Policy. Amount payable under this clause shall not exceed in the aggregate Rp 25,000,000... Full story

Transmission & Distribution Lines Exclusion Clause

This policy does not cover all transmission and distribution, including wire, cables, poles, pylons, standard towers and any equipment of any type of which may be attendant to such installation of any description. This exclusion includes but not limited to transmission or distribution of electrical power, telephone or telegraph signal and all communication signals whether audio or visual.... Full story

KLAUSUL PERUBAHAN MANFAAT

Sesuai dengan peraturan yang berlaku kewajiban Penanggung terhadap Tertanggung adalah sebagai berikut: a) Penanggung wajib menginformasikan kepada Tertanggung setiap perubahan manfaat, biaya, risiko, syarat dan ketentuan yang tercantum dalam Polis ini b) Informasi sebagaimana dimaksud pada ayat (a) wajib diberitahukan kepada Tertanggung paling lambat 30 (tiga puluh) hari kerja sebelum berlakunya perubahan manfaat, biaya, risiko, syarat dan ketentuan atas Polis ini c) Dalam hal Tertanggung tidak menyetujui perubahan ... Full story

WAIVER CLAUSE

Other  than  those  stipulated  in  other article within this Policy,  the  Insurer  and  the Insured  are  respectively  entitled  to terminate  this  Insurance  at  any  time  by giving  the  reason.  Such  termination  shall waive  article  1266  and  1267  of  the Indonesian Civil Code. Notification of  termination shall be made  in writing  by  the  party  who  wants  the termination  to  ... 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

Sanction Limitation and Exclusion Clause

The (re)insurer shall not provide cover nor be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose the insurer or any member of the insurer’s group to any sanction, prohibition or restriction under United Nations resolutions, Australian autonomous sanctions, or ... Full story

NMA 2920 : Terrorism Exclusion Endorsement

Notwithstanding any provision to the contrary within this insurance or any endorsement thereto it is agreed that this insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss.... Full story

KLAUSUL SANTUNAN BIAYA PEMAKAMAN

Polis ini juga memberikan santunan biaya pemakaman Tertanggung akibat dari Kecelakaan yang dijamin dalam Polis ini sebesar 5% dari Harga Pertanggungan atau maksimum IDR5,000,000 jumlah mana yang lebih kecil Full story

KLAUSUL BIAYA AMBULANCE

Polis ini juga memberikan penggantian biaya ambulance untuk transportasi Tertanggung ke atau dari rumah sakit akibat dari Kecelakaan yang dijamin dalam Polis ini sebesar 5% dari Harga Pertanggungan atau maksimum IDR5,000,000 jumlah mana yang lebih kecil Full story

KLAUSUL BIAYA PENGURUSAN SERTIFIKAT KEMATIAN

Polis ini juga memberikan penggantian biaya pengurusan Sertifikat Kematian Tertanggung akibat dari Kecelakaan yang dijamin dalam Polis ini maksimum sebesar IDR1,000,000 Full story

KLAUSUL KEGIATAN OLAH RAGA (NON PROFESIONAL)

Polis ini juga menjamin risiko kematian, atau cacat tetap atau biaya perawatan atau pengobatan sebagai akibat dari kegiatan olah raga (non professional) dan kegiatan extra kurikuler yang diadakan oleh sekolah, namun tidak termasuk olah raga atau kegiatan bertinju, bergulat dan semua jenis olah raga beladiri, rugby, hockey, olah raga diatas es atau salju, mendaki gunung atau gunung es dan semua ... Full story

KLAUSUL HILANG DAN TIDAK DIKETEMUKAN

Santunan kematian akibat kecelakaan diberikan dalam hal Tertanggung hilang dan tidak diketemukan dalam waktu sekurang-kurangnya 60 hari sejak terjadinya kecelakaan sebagai akibat langsung dari suatu kecelakaan yang dijamin dalam polis Full story

KLAUSUL MENGENDARAI SEPEDA MOTOR

Polis ini juga menjamin risiko kematian, atau cacat tetap atau biaya perawatan atau pengobatan sebagai akibat dari kecelakaan saat mengendarai sepeda motor. Full story

KLAUSUL PEMBUNUHAN DAN PENGANIAYAAN

Polis ini juga menjamin risiko kematian, atau cacat tetap atau biaya perawatan atau pengobatan sebagai akibat dari tindakan-tindakan kekerasan termasuk pembunuhan, penganiayaan, pemerkosaan, penculikan dengan tidak memandang apakah tindakan-tindakan itu ditujukan terhadap Tertanggung atau orang-orang lain. Full story

KLAUSUL KERUSUHAN, PEMOGOKAN DAN HURU HARA

Polis ini juga menjamin risiko kematian, atau cacat tetap atau biaya perawatan atau pengobatan sebagai akibat dari Kerusuhan, Pemogokan, Penghalangan Bekerja, Perbuatan Jahat, Huru-hara, Dengan ketentuan bahwa Tertanggung tidak secara sukarela terlibat didalam aksi-aksi tersebut. Full story

KLAUSUL BIAYA PERAWATAN ATAU PENGOBATAN TERMASUK PENGOBATAN ALTERNATIF (SINSHE)

Jaminan Biaya Perawatan atau Pengobatan ini dibayarkan kepada Tertanggung berdasarkan kuitansi asli yang dikeluarkan oleh dokter yang melakukan perawatan atau pengobatan tersebut. Jumlah penggantian selama jangka waktu pertanggungan setinggi-tingginya sebesar Nilai Pertanggungan Jaminan C (Biaya Perawatan atau Pengobatan) Jaminan Biaya Perawatan atau Pengobatan ini juga berlaku bagi kuitansi yang dikeluarkan oleh pengobatan alternatif (sinshe) yang berizin sebesar 5% ... Full story

WORK OF ART CLAUSE

Notwithstanding anything contained herein, This policy is extended to cover loss of or damage to fine arts and collectible objects of every description including but not limited to paintings, drawings, prints, rare books and manuscripts, rugs, tapestries, antique furniture, sculpture, ceramics, but excluding jewelry, jade, gemstones, precious stones, precious metals, bullion, furs, watches, gold or silver objects These ... Full story

FAILURE TO SUPPLY WATER EXCLUSION

Coverage provided by this policy does not apply to any liability arising out of or contributed to by any complete or partial failure to supply water.   Full story

FAILURE TO SUPPLY ELECTRICITY EXCLUSION

Coverage provided by this policy does not apply to any liability arising out of or contributed to by any complete or partial failure to supply electricity/gas.   Full story

MULTI-YEAR POLICY (BREAK AND REVIEW) CLAUSE

It is hereby declared and agreed that in consideration of the agreement to issue this Policy for a period longer than twelve (12) months subject to premium payable in accordance to the premium payment condition, the Insurers reserve the rights to review and amend the terms and conditions at each twelve (12) months anniversary date.  The Insurers and ... Full story

KLAUSUL SANTUNAN GANDA

Dengan ini dicatat dan disetujui bahwa dengan adanya tambahan premi, polis ini akan memberikan santunan ganda dalam hal kematian atau cacat tetap yang diderita yang terjadi ketika : sebagai penumpang yang sah dari angkutan umum berada didalam bangunan yang sedang terbakar tersambar petir Full story

KLAUSUL PEMBUNUHAN DAN PENGANIAYAAN

Dengan ini dicatat dan disetujui bahwa dengan adanya tambahan premi, polis ini juga menjamin risiko kematian atau cacat tetap yang diderita sebagai akibat dari penganiayaan, penyiksaaan dan pembunuhan yang dilakukan oleh pihak lain. Full story

MERDEKA!

MERDEKA!
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MINIMUM AND DEPOSIT PREMIUM (M&DP)

The premium shown on the Policy Schedule is the minimum and deposit premium for this policy for the full policy term. On the expiry of each period of insurance the premium shall be calculated at the rate quoted on the total sum insured or the total of the values declared or deemed to have been declared. If the final premium is ... Full story

LIGHTNING EXTENDED CLAUSE

CLAUSE 4.15 LIGHTNING EXTENDED COVER It is hereby noted and agreed that subject to the Insured having paid  the agreed additional premium, this insurance shall cover loss of or damage to electrical machinery, electrical or electronic equipment and electrical installation insured under this Policy directly caused by lightning. The Insured shall bear ... Full story

SMOKE EXTENDED CLAUSE

CLAUSE 4.14 SMOKE EXTENDED COVER It is hereby noted and agreed that subject to the Insured having paid  the agreed additional premium, this insurance shall cover loss of or damage to the property insured under this Policy caused by smoke arising from a fire provided that the cause of the fire which produces the smoke ... Full story

SELF COMBUSTION CLAUSE

CLAUSE 4.13 SELF COMBUSTION EXTENDED COVER Subject to the provisions provided hereunder, it is hereby noted and agreed that subject to the Insured having paid  the agreed additional premium, this insurance shall cover loss of or damage to the property insured under this Policy caused by self combustion  or self heating to such property.... Full story

ELECTRICAL SHORT CIRCUIT CLAUSE

CLAUSE 4.12 SHORT CIRCUIT EXTENDED COVER It is hereby noted and agreed that subject to the Insured having paid  the agreed additional premium, this insurance shall cover physical damage to any one unit of electrical or electronic equipment, except electrical or electronic equipment used for household purposes, stated in the Schedule, caused by short ... 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

SILENT RISK CLAUSE

Warranted that during the currency of this Policy the said factory be silent and that the machinery be not worked, except for the purpose of keeping it in good order no material being passed through it and that no repairs whatever to machinery be carried on and that no material or goods except spare machinery and/or accessories be stored in the ... Full story

WORKMENS CLAUSE

Workmen are allowed in and about any of the described premises for the purpose or making new erections or alteration, repair, decoration, plant installation, general maintenance and the like without prejudice to the terms and conditions of the Policy.   KLAUSUL PEKERJA Para pekerja diperkenankan berada di dalam dan di ... Full story

VEHICLE LOAD CLAUSE

In the event of the Insured’s Property being left loaded in vehicles or freight containers overnight while in, on or about the premises hereby insured the Insurer will indemnify the Insured for the loss of or damage to such Property caused by fire or any other peril insured hereby, providing always that the Insurer’s Liability shall not exceed the sum insured ... Full story

TENANTS IMPROVEMENTS CLAUSE

The insurance by this Policy extends to include tenants improvements and alteration to Landlord’s property insofar as the Insured is responsible therefore. KLAUSUL PERBAIKAN OLEH PENYEWA Pertanggungan dibawah Polis ini diperluas termasuk  perbaikan dan perubahan-perubahan yang dilakukan Tertanggung sebagai Penyewa atas harta benda milik Pemilik Tanah, sepanjang Tertanggung bertanggung jawab untuk hal tersebut.... Full story

STORAGE WARRANTY

Warranted that during the currency of this Policy no part of the premises described herein be used for manufacture or deposit or storage of merchandise. KLAUSUL KEWAJIBAN TERTANGGUNG (WARRANTY) TENTANG PENYIMPANAN BARANG Dijamin oleh Tertanggung, bahwa selama masa berlakunya Polis tidak akan ada bagian lokasi yang disebutkan dalam Polis ... Full story

SERVICES CLAUSE

The insurance by this Policy relating to machinery and equipment extends to include telephone, gas, water and electric instruments, meters, piping, cabling and the like and accessories thereof including similar property in adjoining yards or roadways or underground all the property of the Insured or of suppliers or others for which the Insured are responsible provided their values are included in ... Full story

SELLING PRICE CLAUSE

It is noted and agreed that in respect of goods sold but not yet delivered for which the Insured is responsible and with regard to which under the written or printed conditions of sale the Sale Contract is cancelled by reason of the loss or damage indemnified by this Policy either wholly or to the extent of the loss or damage, ... Full story

OUTBUILDINGS CLAUSE

The insurance by each item under buildings is understood to include walls, gates and fence, small outside buildings, extensions, annexes, exterior staircase, fuel installations, steel or iron framework and tanks in the said premises and the insurance by each item under contents extends to contents of each outbuilding, provided their values are included in the sum insured.... Full story

LOSS OF DAMAGED GOODS CLAUSE

In case of damage to property bearing brands labels and trademarks the sale of which carries in any way a guarantee of the Insured, the salvage value of such damaged property shall be determined after the removal in the customary manner of all brands labels and trade marks which might be taken to indicate that the guarantee of the Manufacturer or ... 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

GENERAL INTEREST CLAUSE

Certain of the Property insured may be the subject of hire purchase lease or other agreements and the interest of the other parties to these arrangements is noted in this insurance, the nature and extent of such interest to be disclosed by the Insured in the event of damage. KLAUSUL KEPENTINGAN BERSAMA Sebagian ... Full story

FIRE BRIGADES CHARGES

It is hereby understood and agreed that the reasonable charges raised by any local authority for the provision of Fire Fighting Appliances called for the purpose of protecting the premises shall be recoverable hereunder. KLAUSUL BIAYA PEMADAMAN KEBAKARAN Dengan ini diketahui dan disetujui, bahwa biaya-biaya yang wajar dan layak, yang timbul ... Full story

EMPLOYEES PERSONAL EFFECTS CLAUSE

The indemnity granted by this Policy extends to include clothing and/or personal effects of the employees of the Insured for an amount not exceeding Rp 500,000 in respect of any one employee and for an amount not exceeding in the aggregate Rp 10,000,000. KLAUSUL BARANG-BARANG MILIK PRIBADI PEGAWAI Ganti rugi yang dijamin oleh ... Full story

DESIGNATION CLAUSE

For the purpose of determining, where necessary, the definition of any property insured hereby the Insurer agrees to accept the designation under which such property has been entered in the Insured’s books. KLAUSUL PENAMAAN HARTA BENDA YANG DIPERTANGGUNGKAN Untuk menentukan, dimana perlu, definisi harta benda yang dipertanggungkan di sini, Penanggung setuju untuk menerima, ... 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

BRAND AND LABEL CLAUSE

If branded or labelled merchandise covered by this Policy is damaged, 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 containers or may remove the brands or labels, if such stamp or removal of brand or  label will ... Full story

AWNINGS BLINDS SIGNS OR OTHER FITTINGS OF EVERY DESCRIPTION CLAUSE

Awnings, blinds, signs or other outdoor fixtures or fittings of any description are covered by this Policy provided that the Insurer’s liability under this extension shall be on first loss basis, not in the aggregate to exceed Rp 50,000,000 KLAUSUL PERLENGKAPAN DI LUAR BANGUNAN Tambahan atap luar, kerei, papan nama atau perlengkapan lainnya ... Full story

MINOR ALTERATIONS AND REPAIRS CLAUSE

Minor alterations, additions and repairs to building, plant fixtures and fittings, and machinery (exclusive of any Sprinkler Installations) and minor works in progress are allowed and the insurance by this Policy shall not be prejudiced by this. The value of such alterations, additions and repairs shall not exceed 2.5% of Total Sum Insured.... Full story

ALTERATIONS CLAUSE

Notwithstanding anything contained in the printed conditions of the Policy to the contrary, it is noted and agreed that this Insurance shall not be prejudiced in the event of any alterations being made to the property insured whereby the risk of damage is increased, provided that notice of such alterations be given to the Insurer within 60 (sixty) days of the ... Full story

STOCK DECLARATION CLAUSE

  In consideration of the premium by this Policy being provisional in that it is calculated on 75% of the sum insured hereby and is subject to adjustment on expiry of each period of insurance: a) The insured agrees to declare to the Insurer in writing the value of his stocks (other than retail), less any amount insured by ... Full story

LESSORS INTEREST CLAUSE

It is noted and agreed that ………….. (here in after referred to as the Lessors) are the owners of the Property insured under (Item …….) and that such Property is the subject of a Leasing Agreement made between the lessors on the one part and the insured on the other part. It is further understood and agreed that any payment made ... Full story

LEASED PROPERTY CLAUSE

This Policy extends to indemnify any other party having an interest in the property insured by virtue of and in accordance with the terms of mortgage, Leasing, Hiring or Renting Agreement, provided such property is not more specifically insured. KLAUSUL HARTA BENDA SEWA BELI Polis ini diperluas untuk memberikan ganti rugi ... 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

BANKERS CLAUSE

It is noted and agreed that the property insured by this Policy has been mortgaged with bank ……………. and that in consequence there of, it has been agreed with the said mortgagee and the Insured, that in case of loss, if any, payable under this Policy any payment up to the amount to which the said mortgagee is entitled for principal, ... Full story

ALL OTHER CONTENTS

It is noted and agreed that this Policy extends to include : Money and stamps not otherwise specifically insured for an amount not exceeding in the aggregate Rp 10,000,000. Documents, manuscripts and business books but only for the value of the materials as stationery, together with the cost of clerical labour expended in writing up, and not ... Full story

ARCHITECTS, SURVEYORS AND ENGINEERS EXPENSES

It is hereby noted and agreed as follows  (a) The insurance of each item on Buildings or Contents includes an amount in respect of Architects’ Surveyors’ Legal, and Consulting Engineers’ Fees not exceeding those provided under the scales of the various institutions and/or bodies regulating such fees prevailing at the time of the destruction or damage and not ... Full story

TEMPORARY REMOVAL CLAUSE

It is hereby agreed that the property insured by this Policy (other than any stock in trade or merchandise) is covered in respect of the perils hereby insured against, whilst temporarily removed for cleaning, renovation, repair or other similar purposes elsewhere on the same premises or any other premises in the Republic of Indonesia and in transit thereto and  therefrom by ... Full story

SPRINKLER LEAKAGE CLAUSE

It is hereby agreed and declared that the insurance under the Policy shall extend to cover loss or damage to the property insured caused by water accidentally discharged or leaking from the Automatic Sprinkler Installation subject to First Loss sum insured (subject to a maximum of 10% of the total sum insured) and subject to a deductible of Rp. 2,500,000 any ... Full story

REINSTATEMENT VALUE CLAUSE

It is hereby declared and agreed that in the event of the property insured being destroyed or damaged the basis upon which the amount payable under ……………… of the Policy is to be calculated shall be the cost of replacing or reinstating on the same site property of the same kind or type but not superior to or more extensive than ... Full story

PUBLIC AUTHORITIES CLAUSE

The insurance by this Policy extends to include such additional cost of reinstatement of the destroyed or damaged property thereby insured as may be incurred solely by reason of the necessity to comply with Building or other Regulations under or framed in pursuance of any Government Act or Bye-Law of any Municipal or Local Authority provided that :... Full story

DETERIORATION OF UNDAMAGED STOCKS

Deterioration of Undamaged Stocks The Policy extends to include loss sustained by the Insured as the result of deterioration of undamaged stock which cannot be processed promptly due to interruption of or interference with the Business in consequence of damage to Property Insured. Kerusakan persedian bahan baku yang tidak dapat diproses ... 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

Wreck Removal

Wreck Removal
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UPWARD ADJUSTMENT CLAUSE

The Insurance extends to cover any increase in Gross Profit for an amount not exceeding 25% of the Sum Insured thereon provided that the Insured undertake to advise the Insurers at  the end of the policy period of such increase and to pay the additional premium thereon. Full story

TURNOVER/OUTPUT CLAUSE

It is agreed that in the event of a claim arising under this section, adjustment may be based on ‘turnover or output’ or whatever other index of business activity affords the most equitable result and except in the definition of turnover the word ‘turnover’ wherever used in this policy shall mean sale value of goods manufactured by, or sold by, the ... Full story

SUPPLIERS AND CUSTOMERS EXTENSION CLAUSE

This Insurance under this section extends to include the actual loss of Business Income sustained resulting from the necessary interruption of or Interference with the Insured’s Business operations as a result of any unforeseen, sudden and accidental physical loss, destruction or damage to the premises of the following named Insured’s third party suppliers and/or customs arising out of a peril which ... Full story

STANDING CHARGES CLAUSE

If any standing charges of the business be not insured by this policy (having been deducted in arriving at the Gross Profit as defined herein ) then in computing the amount recoverable hereunder as increase in cost of working, that proportion only of any additional expenditure shall be brought into account which the Gross Profit bears to the Sum of the ... Full story

SALVAGE SALE CLAUSE

If following damage giving rise to a claim under this policy the insured shall hold a salvage sale during the indemnity period, clause (A) of item (1) of this Policy shall for the purpose of such claim read as follows : In respect of reduction in turnover the sum produced by applying the rate of gross profit to ... Full story

RETURN OF PREMIUM CLAUSE

In the event of Gross Profit earned during the financial year most nearly concurrent with any period of  insurance as certified by the Insured thereon a prorata return of premium not exceeding thirty percent  (30%) of the premium paid on such sum insured for such period of insurance will be made in respect of  the different. If any damage shall have ... Full story

REBATE CLAUSE

In the event of Gross Profit earned (or proportionately increased multiple thereof where the maximum Indemnity period exceeds twelve months) during the accounting period most nearly concurrent with any period of insurance as certified by the Insured’s Auditors, being less than the sum insured thereon, a prorata return of premium not exceeding 50 percent of the premium paid on such sum ... Full story

PROGRESS CLAIM PAYMENT CLAUSE

It is hereby agreed and declared that progress payment on account of any loss recoverable under this policy will be made to the Insured on production of an interim report by the loss adjuster (if appointed) or accountant, provided that such payments are deducted from the finally agreed claim settlement figures. Full story

PROFESSIONAL ACCOUNTANTS CLAUSE

Any particulars or details contained in the Insured’s books of account or other business books or documents which may be required by the Company under Condition 4 of this Policy for the purpose of investigating  or verifying any claim hereunder may be professional accountants if at the time they are regularly acting as such for the Insured and their report shall ... Full story

PREVENTION OF ACCESS CLAUSE

In consideration of the payment of a additional premium which is included in the premium hereon it is hereby agreed and declared that subject to the conditions of the Policy loss as insured by this policy resulting from interruption of or interference with business in consequence of damage (as within defined) to property in the vicinity of the premises which shall ... Full story

PORT BLOCKAGE CLAUSE

It is agreed and declared that the Insurance provided under Section 2 of this Policy shall extend to include loss resulting from the skinning or stranding of vessel within … to … which prevents access to the Insured’s loading facilities resulting in interruption of or interference with the Business of the Insured Full story

NEW BUSINESS CLAUSE

In the event of Damage occurring at the Premises before the completion of the first year’s trading of the Business the terms “Rate of Gross Profit”, “Standard Turnover” and “Rate of Pay-Roll” shall bear the following meanings and not as within stated : Rate of Gross Profit : The rate of                                      ) to which such adjustment... Full story

MURDER, ASSAULTS AND SUICIDE EXTENSION CLAUSE

It is hereby noted and agreed that the term damage defined under this Policy shall extend to include murders, assaults or suicide committed at the Insured Premises. In consequence thereof, interruption of or interference with the Insured’s business arising from murders, assaults  or suicide committed at the Insured premises, shall be deemed to loss resulting from or consequence ... Full story

MATERIAL DAMAGE PROVISO WAIVER

It shall not be a condition precedent to liability in respect of interruption of or interference in consequent of damage that payment shall have been made or liability admitted under the insurance covering the interest of the insured in the property at the premises against such damage if no such payment shall have been made nor liability admitted solely owing to ... Full story

LEEWAY CLAUSE

In the event of the Gross Profit earned during any annual period of insurance (or during the accounting period of 12 months more nearly concurrent with any period of insurance) as certified by the insured’s Auditors being greater than the sum insured thereon, the insured will be held covered to the extent of 15% of the sum insured thereof and prorata ... 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

GROSS PROFIT CLAUSE

The insurance under this item is limited to loss of  Gross Profit due to : A. Reduction is turnover and (b) Increase in cost of working and the amount payable as  indemnity thereunder shall be : In respect of  Reduction in Turnover : The sum produced by applying the rate of gross  profit to the amount ... Full story

FAILURE OF PUBLIC UTILITIES CLAUSE

FAILURE OF PUBLIC UTILITIES CLAUSE (Version 1) 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 an electricity station or sub-station from which the Insured obtain electric current shall be deemed to be loss resulting from damage to property used by the ... Full story

DEPARTMENTAL CLAUSE

If the business be conducted in by individual companies/divisions or departments the independent trading results of which are ascertainable, it is agreed that the provision hereof may at the option of insured apply separately to each such company/division or department affected by the loss, destruction or damage. With regard to agreements between individual companies relating to the lease ... Full story

DENIAL OF ACCESS CLAUSE

It is hereby declared and agreed that subject to the conditions of this Policy covers loss as Insured by this policy resulting from interruption of or interference with the business in consequence of damage (as within defined) to property in the vicinity of the premises which shall prevent or hinder the use thereof or access thereto, whether the premises or property ... Full story

BOOK OF ACCOUNT CLAUSE

Any particulars or details contained in the Insured’s books of account or other business books or documents which may be required by the Insurer (s) for the purpose of investigating or verifying any claim hereunder may be produced and certified by the Insured’s auditors and their certified shall be prima facie evidence of the particulars and details to which such certificates ... Full story

AUDITORS CHARGES CLAUSE

The Insured under item (3) is limited to the reasonable charges payable by the Insured to their Auditors producing and certifying any particulars or details contained in the Insured’s books of Accountant of Business books or documents such order proofs. Information or evidence as may be required by the company under the terms of conditions of this policy. Full story

ALTERNATIVE TRADING CLAUSE

If during the indemnity period goods shall be sold or services be rendered elsewhere than at the premises for the benefit of the business either by the Insured or by others on the Insured’s behalf the money paid or payable in respect of such work or services shall be brought into account in arriving at the turnover during the indemnity period. Full story

ADDITIONAL INCREASE IN COST OF WORKING CLAUSE

The insurance under this item is limited to such further additional expenditure beyond that recoverable under clause (b) of the Gross Rental Specification as the insured shall necessarily and reasonably incur during the Indemnity Period in consequence of the Incident for the purpose of avoiding or diminishing the reduction in Turnover. Full story

ACCUMULATION OF STOCKS CLAUSE

In adjusting any loss, account shall be taken and an equitable allowance made if shortage in Turnover due to the Damage is postponed by reason of the Turnover being temporarily  maintained from accumulated stocks, either at the Department of Factories of the Group. Full story

ACCOUNTANTS CLAUSE

It is understood and agreed that any particulars or details contained in the Insured’s books of account or other business books or document which may be required by the Insurers for the  purpose of  Investigating or verifying any claims hereunder may produced and certified by Insured’s auditors and their certificate shall be prima facie evidence of the particulars and details to ... Full story

ELECTROMAGNETIC FIELD EXCLUSION

This Policy does not cover liability in respect of Personal Injury or Property Damage arising directly or indirectly from or caused by or contributed to by exposure to and/or the presence of any electromagnetic field (EMF) or any electromagnetic radiation (EMR) or any derivation or variation thereof. 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

POLLUTION EXCLUSION CLAUSE (72 HOUR)

This Policy does not cover liability in respect of: Personal Injury or Property Damage caused by or arising out of the discharge, dispersal, release or escape of pollutants into or upon land, the atmosphere, or any water course or body of water. Provided this exclusion 1 does not apply if such discharge, dispersal, release or escape is sudden, ... Full story

LEAD EXCLUSION CLAUSE

This Policy does not cover any liability for Personal Injury or Property Damage or any other loss, cost or expense arising directly or indirectly from or caused by, contributed to by or arising from the presence, ingestion, inhalation or absorption of or exposure to lead in any form or products containing lead. Full story

PARTICIPANTS EXCLUSION CLAUSE

This Policy does not cover liability in respect of Personal injury or Property Damage arising out of the participation in any sport, game, or amusement involving bodily contact with persons, machines or devices.                        The term “Sport, game, or amusement” includes but is not limited to sumo wrestling, ... Full story

HAZARDOUS GOODS EXCLUSION CLAUSE

This Policy does not cover liability in respect of claims arising directly or indirectly out of or caused by or in connection with the transportation, storage, loading or unloading of hazardous goods (which expression includes but is not limited to chemicals, explosives, gases and flammable liquids). Full story

WELDING EXCLUSION CLAUSE

This Policy does not cover liability in respect of claims caused by or arising out of arc or flame cutting, flame heating, arc or gas welding or similar operation in which welding equipment is used, unless such activity is conducted in strict compliance with the Standard issued by the relevant regulatory authority of Indonesia (Peraturan Menteri Tenaga Kerja dan Transmigrasi R.I. ... Full story

HORSE RIDING EXCLUSION CLAUSE

This Policy does not cover liability in respect of Personal Injury to any person where such Personal Injury occurs whilst riding any horse owned by the Insured or in the Insured’s physical or legal control Full story

HAIRDRESSERS AND BEAUTY SALONS CLAUSE

This Policy does not cover liability in respect of:                                      Personal Injury arising directly or indirectly out of or caused by treatment prescribed or administered by the Insured or the Insured’s employees or agents other than: a) haircutting ... Full story
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