Archive for December, 2016

ELECTRICAL/MECHANICAL DERANGEMENT EXCLUSION CLAUSE

It is agreed that Ioss or damage to the Property Insured arising from Electrical or Mechanical derangement is excluded unless the Property Insured is otherwise damaged by a peril as insured by the within applicable Institute Clauses. Full story

LETTER OF CREDIT CLAUSE

Where the Insured is obliged to arrange insurance is in accordance with any instructions contained in a Letter of Credit such cover is granted hereunder, provider it does not exceed the provisions of this contract wording or is held covered at a premium to be agreed (by Underwriters). Notwithstanding the above and irrespective of the Letter of Credit requirements the interest of ... Full story

LABELS CLAUSE EXTENSION

 In case of damage from perils insured against affecting labels, capsules or wrappers, the loss to be limited to an amount sufficient to pay the cost of new labels, capsules or wrappers and the cost of re-labeling the goods, provided the damage will have amounted to a claim under the terms of the policy. In no case shall the liability of Underwriters  ... 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

GOODS PURCHASED BY THE ASSURED ON FOB, C&F OR SIMILAR TERMS

I cover attaches under this policy from the time the goods leave the Supplier’s factory, Warehouse, Store or Mill as if the Contract of Sale war “ex Suppliers ‘ premises” notwithstanding that the goods and/or Interest may have been purchased on “FOB”, “C&F” or similar terms Assured to pursue suppliers and/or other parties where evidence exists to show that loss occurred prior ... Full story

GENERAL AVERAGE CLAUSE

This insurance covers general average and salvage charges, adjusted or determined according to the contract of affreightment and/or the governing law and practice (or, if there is no contract of affreightment, according to Foreign Statement or to York-Antwerp Rules) incurred to avoid or in connection with the avoidance of loss from any ... Full story

LABELS CLAUSE EXTENSION

In case of damage from perils insured against affecting labels, capsules or wrappers, the loss to be limited to an amount sufficient to pay the cost of new labels, capsules or wrappers and the cost of re-labeling the goods, provided the damage will have amounted to a claim under the terms of the policy. In no case shall the liability of Underwriters  ... Full story

AUTOMATIC ADDITIONAL AND DELETION

Additional personnel will be automatically held covered under this policy provided that notice of each addition is advised by the insured within 60 (sixty) days of the date of commencement of employment and the appropriate additional premium paid. Deletion of lives insured would be similar effected from the date of termination of their employment. 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

GOODS PURCHASED BY THE ASSURED ON FOB, C&F OR SIMILAR TERMS

I cover attaches under this policy from the time the goods leave the Supplier’s factory, Warehouse, Store or Mill as if the Contract of Sale war “ex Suppliers ‘ premises” notwithstanding that the goods and/or Interest may have been purchased on “FOB”, “C&F” or similar terms Assured to pursue suppliers and/or other parties where evidence exists to show that loss occurred prior ... Full story

GENERAL AVERAGE CLAUSE

This insurance covers general average and salvage charges, adjusted or determined according to the contract of affreightment and/or the governing law and practice (or, if there is no contract of affreightment, according to Foreign Statement or to York-Antwerp Rules) incurred to avoid or in connection with the avoidance of loss from any cause except those specifically excluded therefrom. For the purpose of ... Full story

FROZEN FOOD EXTENSION CLAUSE (For use only with the Institute Frozen Food Clauses (A) 1/1/86)

Clause 1 and Clauses 4.4 and 4.5 of the attached Institute Frozen Food Clause (A) 1/1/86 are deemed to be deleted and replaced by: Subject always to be goods being in sound condition at the time of attachment, this insurance covers, except as provided in Clauses 4, 5, 6 and 7 below, loss of, deterioration of, or damage to the subject-matter ... Full story

ERROR AND OMISSION CLAUSE

The Insured shall not be prejudiced by any unintentional and/or inadvertent omissions, errors, incorrect valuations or incorrect description of the interest, risks or property provided notice is given to the company as soon as practicable upon discovery of such errors or omissions and subject to the insured paying additional premium arising therefrom. Full story

BILLS OF LADING CLAUSE

The Insured is not to be prejudiced by the presence of the negligence clause and/or latent defect clause in the Bills of Lading and/or Charter Party.  The seaworthiness of the vessel as between the Insured and the Insurer(s) is hereby admitted and the wrongful act or misconduct of the ship owner or his servants causing a loss is not to defeat the recovery ... 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

DELIBERATE DAMAGE – POLLUTION HAZARD

This policy is extended to cover but only while the property insured is on board a waterborne conveyance, loss of or damage to said property directly caused by governmental authorities acting for the public welfare to prevent or mitigate a pollution hazard or threat thereof, provided that the accident or occurrence creating the situation which required such governmental action would have resulted in ... 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

BUYER’S INTEREST CLAUSE

In respect of goods purchased by the Assured on CIF or similar terms where the Seller is responsible for effecting insurance on conditions no more restrictive than ICC (A), this insurance is to indemnify the Assured in respect and to the extent of claims which they fail to recover from the insurance effected by the Seller. This insurance applies only to ... 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

BUSINESS DESCRIPTION INCLUDES SPORT’S SOCIAL AND WELFARE FACILITIES, FIRE AND AMBULANCE SERVICES AND FIRST AID.

Notwithstanding anything contained herein to the contrary, the Insured shall additionally mean any welfare, social and/or sporting club, fire and ambulance service and first aid together with their office bearers and/or members, formed with the knowledge and consent of the Insured. Full story

BROKERS CANCELLATION CLAUSE

Notwithstanding anything in this policy to the contrary, it is hereby understood and agreed that, in the event of the premium not having been paid by the Assured at the inception of the risk, or in case of installments, on the due date, PT. Willis Indonesia / Willis Limited, (hereinafter called the Brokers) are hereby authorized by the Assured to cancel ... Full story

BLASTING ACTIVITIES

It is hereby noted and agreed that the Policy extend to cover the Liability arising from the blasting activities related to the Insured project under this policy. Subject otherwise to terms, conditions and exceptions of the policy.   Full story

BRANDS CLAUSE

In case of damage to property bearing a brand or the sale of which in any way carries or implies a guarantee of the supplier or Assured, the salvage value of such damaged property shall be determined after removal of all brands and any trade marks (on containers on which brand cannot be removed, contents to be transferred to plain bulk ... Full story

BREACH OF WARRANTIES/CONDITIONS CLAUSE

Any breach of the within warranties without knowledge or consent of the Insured shall not prejudice this insurance provided notice in writing be given to the Company immediately upon such breach coming to their knowledge.   Full story

AJUSTABLE CLAUSE

The sum insured mentioned in the policy is maximum amount. A provisional premium of 100% of the annual premium calculated on the maximum sum insured shall be paid, in advance. This insurance shall be based on condition of quarterly declarations. The value at risk which has been present in the above mentioned premises at any ... Full story

ARBITRATION CLAUSE

It is hereby noted and agreed that the Insured and The Insurer shall settle the dispute through Arbitration Ad Hoc as follows: The arbitration Ad Hoc consists of three arbitrators. The Insured and the Insurer each shall appoint on arbitrators within 30 (thirty) days from the date of receipt of the written notification, then the two arbitration ... Full story

SILICA OR SILICA MIXED DUST EXCLUSION

This insurance does not apply to: Silica or Silica Mixed Dust "Bodily injury", "Property Damage" or "Personal and advertising injury" caused directly or indirectly in whole or in part by the actual alleged or threatened inhalation, ingestion, absorption, exposure to, existence of or presence of silica; or Loss, cots or expenses arising ... Full story

ADVERTISING SIGNS CLAUSE

It is hereby declared and agreed that this Policy is extended to cover the legal liability of the Insured in respect of loss or damage arising from neon signs/advertising signboards displayed at locations situated anywhere in Indonesia. Provided that the Company’s liability as aforesaid shall in no case exceed the Limit of Indemnity specified in this Policy. Full story

ADVERTISING LIABILITY

This Policy is extended to include Advertising Liability happening during the period of insurance in connection with the Business described in the policy schedule. The maximum limit of liability for Advertising Liability is that stated in the Limit of Liability of the policy schedule. Cover in respect of legal costs and expenses are in accordance with the cover provided for ... Full story

ADDITIONAL FORWARDINGCOSTSCLAUSE

Notwithstandinganythingcontainedhereinto thecontrarythisPolicyincludesexpensesproperlyand reasonablyincurredinunloading,storingandforwardingtheSubjectMattertotheoriginaldestinationorre- forwardingtoanyalternativedestinationat theAssured'soption,whentheinsuredtransitis frustrated, interruptedoris terminatedataportorplaceotherthanthattowhichthe SubjectMatterwasoriginally consignedor, in theeventof rejectionorprohibitionenactedafterthecommencementof transitbya governmentalbodyor authority. Claimsunderthisclausearelimitedto10%of thesuminsuredsubjecttoamaximumof USD50,000anyone lossorseriesoflossesarisingoutof oneevent.   Full story

AUTOMATIC ADDITIONAL AND DELETION

Additional personnel will be automatically held covered under this policy provided that notice of each addition is advised by the insured within 60 (sixty) days of the date of commencement of employment and the appropriate additional premium paid. Deletion of lives insured would be similar effected from the date of termination of their employment. Full story

UNDERGROUND PROPERTY/DOWNHOLE EXCLUSION

This Policy does not cover liability in respect of Personal Injury or Property Damage arising from or contributed to by: Destruction of Underground Property. The increased cost of reducing, converting or extracting any Underground Property to physical possession above the surface of the earth, or to the expense incurred or rendered necessary ... Full story

LIABILITY ARISING OUT OF THE USE OF ALL MOBILE PLANT AND EQUIPMENT NOT REGISTERED FOR ROAD USE (SUB LIMIT USD 25,000.00 IN AGGREGATE)

It is hereby declared and agreed that this policy is extended to cover liability arising out of the use of watercraft and all mobile plant and equipment (not registered for road use) Subject otherwise to the terms, exceptions and conditions of the Policy. 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

UNDERGROUND MINING EXCLUSION

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 underground mining activities performed by you or on your behalf. Other than as amended above the terms, conditions and exclusions of this Policy shall continue to apply. Full story

ACCUMULATION CLAUSE

The limits of liability expressed herein shall not apply in the event of or during transshipment or after the arrival of the oversea vessel or conveyance at the port or place of discharge provided always that any accumulation of interests during the ordinary course of transit beyond such limits of liability shall not have arisen from circumstances within the control of ... 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

AIRCRAFT PRODUCTS

It is declared and agreed that exclusion 4.6.3 “Aircraft Products” is replaced by the following: claims arising out of the Insured’s Products that are used with the Insured’s knowledge in aircraft or aerial devices or machinery used to service and/or repair aircraft. Full story

AIRFREIGHT REPLACEMENT

In the event of loss or damage to the subject matter insured following an insured peril, Underwriters agree to pay costs of airfreighting of replacement goods from supplier to destination notwithstanding that the subject matter insured was not originally dispatched by Airfreight. Full story

AIRSIDE LIABILITY

This policy does not provide indemnity for any damage to aircraft, passengers or crew while on board an aircraft. Full story

ARISING FROM REMOVAL OR WEAKENING OF SUPPORT TO LAND OR BUILDINGS

It is hereby not and agreed that this policy is cover liability arising from removal or weakening of support to land or buildings. Subject otherwise to the terms conditions and exception of the policy. 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

TERRITORIAL LIMIT EXCLUDE HANGAR AREA

This Policy is does not cover liability in respect of Claims made and actions instituted within Hangar area Full story

TENANT’S LIABILITY

It is hereby understood and agreed that property in the charge of or under the control of the Insured shall be deemed not to include Premises (including Fixtures and Fittings) Leased or rented to the Insured including residence occupied by expatriates. Subject otherwise to the Terms Exceptions and Conditions and Conditioned of this Policy Full story

TENANTS LIABILITY CLAUSE

The exclusion of property in the charge or under the control of the Insured or any servant of the Insured shall not apply in the event of loss or damage to the premises (all fixtures or fittings thereon) hired, leased or rented to the Insured. Further, this insurance extends to cover the Insured’s legal liability as occupiers of the premises.... Full story

AIRSIDE / AVIATION LIABILITY

It is declared and agreed that this Policy shall not apply and does not cover any actual or alleged liability whatsoever for any claims in respect of loss or losses directly or indirectly out of, resulting from, in consequences of, contributed from Airside or Aviation Liability Full story

SPORTS AND SOCIAL CLUBS (EXCLUDING WATERSPORT ACTIVITIES)

The Insured shall include the committee and members of any social or sports club operated for the benefit of the Insured employees. The business shall be deemed to include the activities of the said club Full story

ADDITIONAL POLICY CONDITIONS

Hold Harmless Neither the named Insured, nor any subsidiaries will enter into any contract whereby such named Insured hold any manufacturing parent harmless in respect of those parent’s products. Full story

ALTERATION AND ADDITIONS TO OWNED OR OCCUPIED PREMISES

This policy provides indemnity for construction, alterations and additions to premises owned or occupied by the Insured up to a limit of S$ 5,000,000.- any one contract. Full story

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. Full story

AUTOMATIC COVER FOR ADDITIONAL LOCATIONS CLAUSE

The indemnity provided by this Policy shall automatically and shall include all new and additional Named Insured and/or all new & additional Insured’s locations, which come into operation & having carried out the Insured business as described in the Schedule. It is understood that this automatic cover would last for only 30 days, starting from the day the new location ... Full story

OWNED AUTOMOBILES

It is agreed and declared that this policy provides indemnity for liability arising out of vehicles registered by the Insured in excess of any underlying motor or liability policies and will provide difference in conditions coverage within the terms and conditions of this policy. Indemnity provided by this endorsement does not extend to any liability in respect of vehicles registered ... 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

NON-OWNED VEHICLES LIABILITY

This Policy is extended to cover the Insured’s legal liability for death and or bodily injury to third party and loss and or damage to third party’s property arising out of the usage of non-owned and hired automobiles by the Insured in the course of their business provided that such liability is not already insured and indemnified by any other policy.   Full story

LOSS PAYEE CLAUSE

It is hereby declared and agreed that the payment in respect of any claim which is indemnifiable under the terms of the Policy shall be made to and their receipts shall be a full and final discharge to the Company. The Company reserves the right to cancel this Policy at any time as provided by the terms thereof, but in such ... Full story

NO CLAIM BONUS CLAUSE

It is especially agreed that the Insurer will return to the Insured 5 % of the Premium Paid Provided that there are no claims whatsoever payable hereunder and occurring the period of Insurance.  This return of Premium to be offset against the renewal due for the subsequent year.   Full story

WATER POLLUTION, FLOOD, FUMES AND DEFECTIVE SANITARY AGREEMENT CLAUSE

It is hereby declared and agreed that the insurance by this policy is extended to cover the legal liability of the Insured for personal injury, smoke, disease, loss or damage caused by or through or in connection with water pollution, fumes to persons or property when it proved to have been  caused by immediate accidental discharge due to defective drains, sewers ... Full story

PLANT AND MACHINERY CLAUSE (INCLUDING LIFT AND ESCALATOR, HOIST, CRANES AND FORKLIFTS)

It is hereby declared and agreed that the Policy is extended to cover the Insured’s liability in respect of death or bodily injury or damage to use of all plant and machinery (including lift and escalator, hoist, cranes and forklifts) belonging to the Insured which are not licensed for use on Public Roads.   Full story

MR 1209 – Special insurance cover: oil, gas and/or geothermal drilling rigs and equipment

This endorsement forms part of section 1 b and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon.   Indemnification 1.1. The insurer shall indemnify the insured in respect of loss of or damage to: 1.1.1. drilling and oil and gas well servicing equipment, including spare parts, derricks, drill pipes, tools and miscellaneous appurtenances specified in the ... Full story

MR 1208 – Special insurance cover: costs for leak search

This endorsement forms part of section 1 a and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon. Indemnification 1.1. The insurer shall in the event of indemnifiable loss of or damage to property insured indemnify the ... Full story

MR 1207 – Special insurance cover: reactor pressure vessels with internals

This endorsement forms part of section 1 a and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon. Indemnification 1.1. The insurer shall indemnify the insured in respect of loss of or damage to reactor pressure vessels ... Full story

MR 1206 – Special insurance cover: costs of decontamination for nuclear plants

This endorsement forms part of section 1 a and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon. Indemnification 1.1. The insurer shall in the event of indemnifiable loss of or damage to property insured indemnify the insured in respect of the reasonable extra costs incurred to decontaminate property insured which has ... Full story

MR 1205 – Special insurance cover: nuclear fuel elements

This endorsement forms part of section 1 a and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon. Indemnification 1.1. The insurer shall indemnify the insured in respect of loss of or damage to nuclear fuel elements. 1.2. ... Full story

MR 1204 – Special insurance cover: guarantee maintenance cover during defects liability period

This endorsement forms part of section 1 a and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon. Indemnification 1.1. Clause 9.6.2.2. under "Exclusions to section 1 a" shall be deleted and replaced by the following wording:... Full story

MR 1203 – Special insurance cover: liability consequent upon vibration, removal or weakening of support

This endorsement forms part of section 2 and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon. Indemnification 1.1. The insurer shall indemnify the insured in respect of liability consequent upon loss or damage resulting from vibration or by the ... Full story

MR 1202 – Special insurance cover: property insured taken into use or operation

This endorsement forms part of section 1 a and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon. Indemnification 1.1. The insurer shall indemnify the insured in respect of loss of or damage to property insured specified below which... Full story

MR 1201 – Special insurance cover: extra costs for airfreight

This endorsement forms part of   Section 1a (Y/N)   Section 1b (Y/N)   and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon.   Indemnification 1.1. The insurer shall indemnify the insured in respect of reasonable extra costs for airfreight incurred to rectify loss or damage to property insured. 1.2. The indemnity provided by this endorsement shall not exceed during ... Full story

MR 1200 – Special insurance cover: strike, riot and civil commotion

This endorsement forms part of Section 1a  (Y / N) Section 1b  (Y / N)   and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon.   Indemnification 1.1. The insurer shall indemnify the insured in respect of loss of or damage to property insured resulting from strike, lock-out, riot and civil commotion. 1.2. The limit of indemnity for anyone occurrence of ... Full story

MR 1000 – Cover for Loss of Profits following Loss or Damage Covered under Civil Engineering Completed Risks Insurance (CECR)

Notwithstanding exclusion 5 of the CECR policy, the Insurers shall indemnify the Insured in respect of loss of gross profit actually sustained due to the reduction in turnover and the increased cost of working as defined in this Endorsement, if at any time during the period of insurance stated in the Schedule to this Endorsement the items (or any part thereof) insured under the CECR ... Full story

MR 904 – Failure of Non-Public Power Supply

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 extra premium agreed on, the Insurers will indemnify the Insured for any deteriora­tion or putrefaction occurring as a result of any failure of the non­public power supply, provided that ... Full story

MR 903 – Failure of Public Power Supply

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 extra premium agreed on, the Insurers will indemnify the Insured for any deteriora­tion or putrefaction occurring as a result of any failure of the public power supply, provided that ... Full story

MR 902 – Insurance of Goods in Cold Storage under Controlled Atmosphere Conditions

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 premium, this insurance covers loss of or damage to goods stored in cold storage under controlled atmosphere conditions, provided always that at the time of accident ... Full story

MR 894 – Sum Insured on Unit Price Basis

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the sum insured and indemnity shall be defined as follows The annual sum insured shall be calculated on the basis of the agreed unit price multiplied by the number of units the Insured produces during ... Full story

MR 893 – Proportional Time Excess

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the deductible in respect of the time excess shall be determined as follows: ... Full story

MR 892 – Indemnity Period Limits Exceeding 12 Months

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon for indemnity period limits exceeding 12 months, the following shall apply: The figures for annual sum(s) insured, annual turnover and standard turnover as defined or stated in the Policy shall be increased in the pro­portion ... Full story

MR 891 – Delay in Repair

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the Insurers shall, within the agreed indemnity period limit, be liable for a period not exceeding four weeks for any loss of gross profits due to delay in repair or replacement of damaged machines of foreign make, where such ... Full story

MR 866 – Failure of Public Power, Water, Gas or Steam Supply

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended to include loss of gross profits resulting from interruption of or interference with the business due to failure of the public power, water, gas or steam supply in accordance with the following conditions: ... Full story

MR 863 – Additional Expenditure other than Increase in Cost of Working

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 extended to cover additional expenditure as specified below, other than increased cost of working, which may be incurred during the indemnity period as a consequence of an indemni­fiable interruption of or interference with the business. ... Full story

MR 862 – Maximum Demand Charges

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 extended to cover the maximum demand charges as itemized in the power supply contract attached to and deemed to be incorporated in this Endorsement, such charges falling due as a consequence of indemnifiable loss of ... Full story

MR 861 – Increased Cost of Electricity, Water, Gas or Steam Supply

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 extended to cover increased cost of elec­tricity, water, gas or steam - hereinafter referred to as energy - due to purchase thereof becoming necessary following an indemnifiable loss of or damage to... Full story

MR 857 – Prolongation of the Interruption Period due to Deterioration

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended to include a prolongation of the inter­ruption period due to the deterioration of raw materials, intermediate or finished products or operating media, provided that such deterioration is actually caused by an indemnifiable interruption of or ... Full story

MR 856 – Deterioration of Raw Materials, Intermediate or Finished Products, or Operating Media

  It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended to include deterioration of raw materials, intermediate, or finished products or operating media specified with a se­parate sum insured in the List of Material Insured attached to the Policy, the following conditions being applicable:... Full story

MR 855 – Radioactive Isotopes in Instruments

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended to include loss of gross profits resulting from prolongation of the interruption or interference due to the decontami­nation of items specified in the List of Machinery and Plant Insured, pro­vided that the contamination was caused ... Full story

MR 845 – Inspection and Overhaul of Boilers

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the Insurers shall indemnify the Insured in respect of loss of gross profits in consequence of any accident to the boilers named in the List of Machinery and Plant Insured, subject to the following conditions: The ... Full story

MR 844 – Overhaul of Steam, Water and Gas Turbines and Turbo-Generator Sets

sets are to be overhauled in ac­cordance with the manufacturers' recommendations  These periods shall commence as from the first start of operation or last overhaul of the turbo-generator set or part thereof, irrespective of the date of commencement of this insurance cover  The Insured shall advise the Insurers of any significant change In the ... Full story

MR 843 – Overhaul of Electric Motors and Generators

above 750 kW for types with 2 poles and above 1,000 kW for types with 4 poles or more  It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the Insurers shall indemnify the Insured in respect of loss of gross profits ... Full story

MR 842 – Non-Destructive Testing (NDT) of Presses, Shears and Similar Items with Frames or other Components exposed to High Stresses

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the Insurers shall indemnify the Insured in respect of loss of gross profits in consequence of an accident to item (s) No(s) specified in the List of Machinery and Plant Insured, ... Full story

MR 832 – Exclusion of flue gas explosions in boilers and furnaces

It is agreed and understood that, otherwise subject to the terms, ex­clusions, provisions and conditions contained in the Policy or endorsed thereon, the Insurer shall not indemnify the Insured for any loss of gross profit incurred due to flue gas explosions in any boiler, furnace and/or associated plant or equipment. Full story

MR 831 – Exclusion of Inundation and Silting up in Hydro Power Plants

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the Insurers shall not be liable for loss of gross profits following inundation or silting up caused by the fracture or bursting of a penstock, associated valves, turbines or pumps Full story

MR 829 – Machinery Breakdown during Guarantee Period

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, Exclusion No 3 of the Policy - material loss or damage for which a supplier, contractor or repairer is responsible either by law or under contract -  shall be deleted. Full story

MR 817 – Underground Machinery and Equipment

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended to include loss of profits resulting from loss of or damage to  item(s) No(s) specified In the List of Machinery and Plant Insured, such loss or damage being due ... Full story

MR 813 – Internal Fire, Internal Chemical Explosion and Direct Lightning

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended to include loss of gross profits following loss of or damage to item(s) No(s) specified in the List of Machinery and Plant Insured caused by internal fire, the extinguishing ... Full story

MR 812 – Hull Risk for Mobile Equipment Including Inland Transit

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover will be extended to include loss of gross profits following loss of or damage to  item(s) No(s) specified in the List of Machinery and Plant Insured caused by flood, earthquake, inundation, landslide ... Full story

MR 811 – Hull Risk for Mobile Equipment on Premises only

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, cover will be extended to include loss of gross profits following loss of or damage to item{s) No(s) specified in the List of Machinery and Plant Insured caused by flood, earthquake, inundation, landslide ... Full story

MR 731 – Adjustment of Sum Insured and Premium

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, the following alteration of Memo 1 of the provisions shall apply to this insurance: The Insurers shall waive the right to apply underinsurance, provided the sum insured at the beginning of the insurance was correctly fixed ... Full story
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