Archive for 2017

Whether you’re interested in developing your own career or you have responsibility for the training needs of others, you’ll find everything you need in this directory to build your training course programme with us. JANUARY 2018 LIA-06 A short course on Professional Indemnity Insurance. with special focus on Coverage and Claims (Engineers, Architects and Surveyors) (in English ... Full story

In consideration of the premium paid, and subject to the exclusions, conditions and limitations this policy to which this extension is attached, and also to the following additional conditions, exclusions, and limitations, this policy is extended to cover actual loss sustained resulting from necessary interruption of business insured caused by actual direct physical loss or damage sustained, as ... Full story

If the business insured is discontinued after the occurrence of the insured event, the indemnity shall be paid for the period (up to the maximum indemnity period) which would normally have been required to bring the business insured back to normal. In the event that the insured controls the circumstances because of which the business insured is discontinued, the said ... Full story

This extension is subject to the exclusions, conditions and limitations of this policy to which this extension is attached. In consideration of the premium paid, it is understood and agreed that if this policy covers business interruption such coverage shall extend to actual loss sustained resulting from necessary interruption of business insured caused by actual direct physical loss or ... Full story

This policy is extended to cover the actual loss sustained by the insured during the period of time, not exceeding fourteen (14) consecutive calendar days, when access to covered locations is specifically prohibited by order of civil authority, provided such order is a direct result of actual loss or damage sustained from a peril covered under section 1 of this ... Full story

This policy is extended to cover the actual loss sustained by the insured during the period of time, not exceeding fourteen (14) consecutive calendar days, when access to covered locations is prevented as a direct result of actual loss or damage sustained from a peril covered under section 1 of this policy to property insured against under section 1 of ... Full story

This extension is subject to the exclusions, conditions and limitations of this policy to which this extension is attached. In consideration of the premium paid this policy is extended to cover the actual loss sustained by the insured during the period of insurance as a direct result of actual loss or damage sustained from a peril named under section ... Full story

This policy is extended to include such additional cost of reinstatement of the property insured subject to a covered loss or damage as may be incurred solely by reason of the necessity to comply with building or other regulations under or framed in pursuance of any act of parliament or with bye-laws of any public authority, excluding the cost incurred ... Full story

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

1. This policy is extended to cover the actual physical loss or damage sustained by the insured to fine arts whilst situated at the location(s) covered by this policy. 2. For the purpose of this endorsement, Fine art shall mean paintings/pictures/sketches of any kind whether created by applying water/oil/acrylic based paints, charcoal, pencil or collage; art photographs; tapestries; sculptures; statuary; antiques; valuable rugs; rare ... Full story

In respect of each and every occurrence or of damage to property insured, the insurer shall not be liable for the amount obtained by multiplying the average daily value of the loss of interest insured sustained during the indemnity period by the number of days specified in the schedule as the time excess or for the amount of any monetary deductible specified in the schedule, whichever is ... Full story

If branded or labelled property insured by this policy is physically damaged and the insurer elects to salvage that property, the insured may remove or obliterate the brands or labels. If the insured determines to take such action then it must re-label so as to comply with any applicable regulation. Further, if such re-labelling or re-branding reduces the value of the ... Full story

In the event of insured physical loss or damage to documentary records created by the insured to record outstanding amounts due from customers, this policy shall refund any shortfall directly caused by such physical loss or damage providing the insured takes all reasonable steps to recover such shortfall and the physical loss or damage does not occur as a ... Full story

In the event of an unintentional misdescription of the location at which property insured is physically situated or the unintentional failure to include any property in which the insured has an insurable interest, this policy shall cover physical loss or damage to such property as if the errors had not occurred providing the value of the property insured does not exceed 10% of the property ... Full story

The insurer shall indemnify the insured up to the limit of indemnity specified in the schedule in respect of the costs and expenses necessarily incurred to remove and dispose of debris which remains as a direct result of physical loss or damage insured by this policy. Full story

1. The insurer shall indemnify the insured in respect of fire-fighting expenses necessarily and reasonably incurred by the insured to prevent or minimise the extent of any loss or damage to the property insured indemnifiable under this policy, including the cost of materials expended, costs incurred in refilling fireextinguishing appliances and replacing used sprinkler heads, wages of personnel specifically engaged for such tasks and all fire-fighting costs claimed against the insured ... Full story

The insurer shall indemnify the insured up to the limit of indemnity specified in the schedule in respect of reasonable and necessary extra costs to pay for: 1. Overtime, night-work, work on public holidays, express freight (except airfreight) incurred to rectify loss of or damage to property insured; 2. The temporary repair of property insured to expedite the permanent repair or replacement of damaged property; 3. The temporary removal of property ... Full story

1 The insurer shall indemnify the insured in respect of loss of or damage to real or personal property acquired or becoming held in the care, custody or control of the insured after the inception of this policy and not included in the schedule; 2 Any increase in the new replacement value as a result of such capital additions shall not exceed 5% of the sum(s) insured or any other ... Full story

This Policy does not cover loss or damage caused by Theft, unless involving entry to or exit from a building by forcible and violent means or unless as a result of or in connection with actual or threatened assault or violence or use of force at the location against the insured or any employee of the insured or any other person lawfully on the location (burglary. Full story

Munich Re telah menerbitkan polis Industrial All Risks (IAR) baru versi 2.3 (Agustus 2017) yang memberikan jaminan dan persyaratan polis yang lebih transparan, terstruktur rapi, jelas, tidak ambigu, dilengkapi dengan definisi dan endorsemen perluasan yang diperlukan. Bagian penting dari polis ini, adalah: Polis menjamin kerusakan fisik dan gangguan usaha (Policy covers physical physical damage and resulting business interruption) ... Full story

Rekan Yth, HAPPY NEW YEAR 2018. SUKSES SELALU.!! Yook Schedule Training Anda dan Karyawan Anda bersama AHLIASURANSI di bulan Januari dan Februari 2018 AHLIASURANSI senantiasa menghadirkan training berkualitas dengan para fasilitators berpengalaman di class of insurance masing-masing. di bulan Januari dan Februari 2018 kami menghadirkan modul training baru, antara lain: Syllabus ... Full story

Whether you’re interested in developing your own career or you have responsibility for the training needs of others, you’ll find everything you need in this directory to build your training course programme with us.   BASIC GENERAL INSURANCE BAS-01  Basic General Insurance : Prinsip-Prinsip & Praktik Asuransi, Produk-Produk Asuransi dan Proses Underwriting     BAS-02  Asuransi Kebakaran & Gempa Bumi (Fundamental of Fire ... Full story

It is agreed that in Section1, Material Damage the following is added to Exclusions to Section1: Insurers will not indemnify the Insured in respect of: (a) loss of or damage to storage tanks caused by storm (including but not limited to tropical cyclone, typhoon, hurricane) where the Insured has not taken adequate temporary safety measures during the erection phase to ensure that the tank withstands a wind ... Full story

It is agreed that the following is added to General Exclusions: Insurers will not indemnify the Insured in respect of: (a) loss or damage, arising out of, resulting from, caused by, contributed to, or in any way related to the existence, inhalation or exposure to any fungus/fungi and or spore(s); (b) any cost or expenses associated in any way, or arising out of the abatement, mitigation, remediation, containment, ... Full story

It is agreed that in Section 1, Material Damage the following is added to Exclusions to Section 1: Insurers will not indemnify the Insured in respect of any loss or damage totally or partially resulting from precipitation unless according to data available from the meteorological service the quantity of rainfall at the Project Site is higher than the quantity corresponding to the ... Full story

It is agreed that in Section 1, Material Damage the following is added to Exclusions to Section 1: Insurers will not indemnify the Insured in respect of any loss or damage totally or partially resulting from adverse sea conditions unless according to the records available the return period of such sea conditions at the Project Site is higher than the return period ... Full story

It is agreed that in Section 1, Material Damage the following is added to Conditions to Section 1: For the purpose of this Policy, Cold Testing, Hot Testing and Commissioning shall mean: (a) Cold Testing The checking of component parts of machinery or equipment by mechanical, electrical, hydrostatic or other forms of testing under dry run conditions to ensure that ... Full story

It is agreed that in Section 1, Material Damage the following is added to Exclusions to Section 1: Insurers will not indemnify the Insured in respect of: (a) any loss or damage arising directly or indirectly to foundation piles and/or casings and/or sheet pile constructions which are: (i) misplaced and/or misaligned; (ii) lost during driving and/or extraction; (iii) ... Full story

It is agreed that in Section 1, Material Damage the following is added to Conditions to Section 1: In respect of Loss to portions of not completed road caused directly or indirectly by rain, inundation or flood, Insurers liability shall be limited in respect of the aggregate length of the portions of not completed road at any one time as stated below. Should the length of all ... Full story

It is agreed that in Section 1, Material Damage the following is added to Conditions to Section 1: (a) Insurers will not indemnify the Insured for loss or damage directly or indirectly caused by rain, inundation or flood to pipes, conduits and cables laid in trenches where any of the following requirements have not been fulfilled: (i) as soon as practicable, ... Full story

It is agreed that Section 1, Material Damage is extended to indemnify the Insured up to the Sum Insured stated below in respect of costs incurred in searching for leaks of pipelines provided that: (a) all welds have been checked by non destructive testing; and (b) insured Loss is found to have occurred. Sum Insured each and every Loss and ... Full story

Notwithstanding Condition of Section 1, Material Damage it is agreed that in respect of the portions of Insured Property stated below: (a) such portions shall be in Partial Operation (after Hot Testing and Commissioning, if any, has been completed) as from the Inception Date stated below and until the Termination Date of the Construction Period; and (b) such Partial Operation shall ... Full story

If at any time any change shall occur materially varying any of the facts relating to the Project, the Contract, this Policy or the degree of risk assumed hereunder, the Insured shall immediately give notice in writing of such Material Change in risk to the Insurers, supplying, as soon as possible thereafter, any further particulars as the Insurers may reasonably require. In ... Full story

In the event of any partial or total unscheduled suspension or cessation of work, the Insured shall give immediate notice in writing to Insurers if such a suspension or cessation is anticipated to exceed 30 calendar days. Any such suspension or cessation shall be considered as a Material Change as per General Condition Full story

This Policy does not cover any loss, damage or liability directly or indirectly caused by or arising from or aggravated by any wilful act or omission or gross negligence of the Insured or their management, including but not limited to the Project manager and the Project Site manager. Full story

The monetary amount corresponding to the Time Deductible shall be calculated by multiplying the average daily value of loss sustained during the Period of Indemnity by the number of days agreed upon as the Time Deductible and shall be deducted from the amount payable. Full story

In the event of a claim being brought by any Insured in respect of Loss resulting from neglect, error or omission in the design or manufacture of component products by any supplier, the Insurers will indemnify the Insured. However, the Insurers retain all rights of subrogation against the supplier in respect of such Loss. For the purpose of this clause, the term component products shall mean ... Full story

In the event of a claim being brought by any Insured in respect of Loss resulting from any breach of professional duty by professional consultants, the Insurers will indemnify the Insured, However, the Insurers retain all rights of subrogation against the professional consultants in respect of such Loss. Full story

This Policy will indemnify the Insured, in respect of the difference in costs between those calculated at normal or standard rates of reimbursement, and those actually incurred including costs for overtime, work on public holidays and weekends, shift working and express freight provided that such costs: (a) are necessarily and reasonably incurred by the Insured for the purpose of preventing or minimising ... Full story

Any Loss arising during any one period of 72 hours caused by storm, tempest, flood, water or cyclone shall be deemed to be one Loss. The Insured shall select the time from which any such period shall commence but no two selected periods shall overlap. Full story

If during the Construction Period the actual value of the Insured Property shall exceed the Total Sum Insured as specified in the Schedule, the Total Sum Insured shall be increased automatically so that it is equal to such actual value, subject, however, to the increase not exceeding in any case the automatic escalation percentage indicated in the Schedule. Where it is apparent, or ... Full story

In the event of insured Loss to plans, drawings, files, documents, manuscripts, or computer system records forming part of the Insured Property, this Section shall indemnify the Insured in respect of the cost of labour and computer time expended in reproducing such plans, drawings, files, documents, manuscripts, or computer system records, including any expenses incurred in producing the information contained thereon, provided that:... Full story

In the event of loss or damage being discovered after the cover provided for any item of Insured Property under any marine or transit policy of insurance has terminated and if after proper investigation it is not possible to ascertain whether such loss or damage happened prior to termination of such policy, Insurers shall indemnify the Insured in respect of insured Loss, provided ... Full story

This Policy will indemnify the Insured, up to the Sum specified in the Schedule, in respect of insured Loss, while Insured Property is in temporary storage off the Project Site, except while at any manufacturers or suppliers premises prior to delivery to the Project Site, provided that: (a) said Insured Property is owned, or is in the custody, care or control of the Insured; and (b) the ... Full story

This Policy will indemnify the Insured, up to the Sum specified in the Schedule, in respect of insured Loss, while Insured Property is being transported on any vehicle (including loading and unloading) to the Project Site or to temporary off-site facilities, provided that: (a) said Insured Property is owned, or is in the custody, care or control of the Insured; and (b) the transits insurance hereunder shall ... Full story

This Policy will indemnify the Insured, up to the Sum specified in the Schedule, in respect of architects, surveyors, consulting engineers and other professional fees, necessarily and reasonably incurred in the repair, reconstruction or replacement consequent to insured Loss, provided that: (a) fees for preparing any claim under this Policy are excluded hereby; and (b) the amount payable under the terms of this Policy shall not exceed ... Full story

The Insured warrant that the Premium stated below and any Premium as may be agreed by Endorsement will be paid and received by Insurers on or before midnight of the respective Due Date. If this warranty is not complied with, this Policy shall be terminated at such Due Date. Premium Payment                                ... Full story

The CPM policy offers insurance protection for plant and machinery of every kind. It is an annual all risks policy independent of any specific site and covers loss or damage caused by sudden and unforeseen events provided that the cause of loss or damage is not expressly excluded. Insurance coverage includes machinery at work, at rest or during maintenance. MRe Contractor’s Plant and Machinery Insurance... Full story

On the basis of a combined contractors' all risks and erection all risks insurance, the CP insurance policy provides comprehensive and risk-commensurate insurance protection for all projects involving the construction and erection of buildings, machine installations, plants, and steel structures throughout the project phase. The scope of cover is of very broad design modelled on the CAR and EAR insurance policies customary in international insurance markets. ... Full story

The comprehensive machinery (CM) insurance policy is essentially an accident insurance for industrial facilities where engineering risks are in the foreground, as opposed to all-risks policies, which focus on fire and allied perils. It covers sudden and unforeseen material damage to the whole facility and, in a way similar to the MLOP policy, the ensuing loss of profits. As in the case of machinery insurance, ... Full story

Large and technically challenging engineering projects involve a large array of risks – beginning with the planning phase through construction to commissioning. These risks should be covered as comprehensively as possible: the new Construction Erection All Risks Policy (CEAR policy). The CEAR policy for covering construction all risks and erection all risks is clearly structured and unambiguously worded. It may be adapted flexibly to the complex ... Full story

It is agreed that in Section 1, Material Damage the following is added to Exclusions to Section 1: Insurers will not indemnify the Insured in respect of any loss or damage arising directly or indirectly from the overtopping of a cofferdam caused by a flood with a return period of less than the period stated below. The burden will be on the Insured to demonstrate that this ... Full story

Menurunnya harga minyak yang saat ini yang terjadi telah mengubah peta ekonomi pebisnis kapal, peta keuntungan dan peta pendapatan bagi pemilik kapal. Seiring dengan berkurangnya keuntungan tersebut, pemilik kapal tidak punya pilihan lain selain harus memotong biaya-biaya dan memutuskan kapalnya untuk dijual atau dilakukan lay-up. Kondisi ini juga terjadi di sektor lepas pantai yang juga terpukul dalam kondisi ini. Selanjutnya, banyak perusahaan ... Full story

Akhir-akhir ini muncul perdebatan apakah perhitungan premi kenaikan TSI dan tambahan extension-period dalam polis CAR dihitung pro-rata basis atau charged in full? Calculation of sum insured and premium Sum insured The sum insured must be equal to the amount stated in the building contract, plus the value of any construction material supplied and/or additional work performed by the principal. Any ... Full story

AHLIASURANSI in cooperation with Talent@sia present Special insurance workshop with Ir. Pooba Mahalingam Dealing with Contractor’s All Risks (C.A.R) Insurances (Coverage and Claims Issues) 6-7 December 2017 @Ayana MidPlaza Hotel, Jakarta Facilitator : Ir. Pooba Mahalingam A intensive course on the  Property All Risks (PAR) Policy - (with a special ... Full story

Konvensi Pengelolaan Air balas kapal atau Ballast Water Management (BWM) Convention yang dijadwalkan akan mulai diberlakukan pada tanggal 8 September 2017 akhirnya ditunda melalui kesepakatan Negara-negara anggota IMO yang duduk dalam komite perlindungan lingkungan laut pada pertemuan MEPC-71. Penundaan ini atas kompromi-kompromi diplomatis oleh 6 (enam) negara anggota IMO yang mengusulkan kepada IMO untuk menunda keharusan kapal memasang system pengelolaan air ... Full story

Konvensi air balas kapal intinya mencakup dua peraturan utama dimana peraturan tersebut menentukan standar pengelolaan air balas kapal. Peraturan pertama yaitu Peraturan D-1 dimana peraturan ini membahas Ballast Water Exchange standard atau standar pertukaran air balas kapal dan peraturan kedua adalah Peraturan D-2 dimana peraturan ini merinci Ballast Water Treatment Performance standard atau standar kinerja pengelolaan air balas kapal.... Full story

Dalam penerapan ballast water management convention untuk kapal-kapal bendera Indonesia yang akan berlayar atau dioperasikan ke luar negeri, maka saat ini adalah saat yang tepat bagi galangan kapal untuk dapat mengantisiasi bila nantinya aka nada ledakan permintaan pemasangan alat BWM Plant. Untuk itu perlu bersama-sama, galangan kapal dalam negeri harus memulai dan mempersiapkan diri dapat mengidentifikasi dan memilih ... Full story

Menjadi pemilik kapal zaman dulu memang merupakan impian bagi semua orang. Mungkin impian semacam itu sampai sekarang masih tetap sama yaitu menjadi pemilik kapal hidupnya mewah. Sebagaimana kita ketahui bersama nama pemilik kapal terkenal di dunia misalnya Aristoteles Sokrates (Ari) Onassis (yang hidup 15 Januari 1906 sd 15 Maret 1975), Lemos, Niarchos, dll. Demikian pula pemilik kapal di ... Full story

Understanding The IAR / PAR Policy, Business Interruption Insurances & Claims A Comprehensive Guide on the cover afforded by the Industrial / Property All Risks Policy and Business Interruption Insurance for Insurance Brokers and Advisers, Underwriters and Claims Officers, Loss Adjusters, and Risk Managers The Facilitators: ... Full story

Understanding The Motor Vehicle Insurance & Claim Memahami Jaminan Polis & Klaim Asuransi Kendaraan Bermotor (Disesuaikan dengan SE OJK No. 6 /SEOJK.05/2017 tentang Penetapan Tarif Premi atau Kontribusi pada Lini Usaha Asuransi Kendaraan Bermotor ) The Facilitators: IMAM MUSJAB, SE, AIIS, AAIK, ICPU, QIP... Full story

Introduction to Maritime Law & The Insurance Acts Pembahasan Hukum Maritim Nasional dan Internasional dan kaitannya dengan penyelesaian klaim asuransi marine The Facilitator: NOVY RACHMAT TRIANA Praktisi Asuransi Marine, Berpengalaman di bidang asuransi marine, terutama di bidang klaim marine dan hukum-hukum maritim. ... Full story

Understanding The Builders’ Risks and Ship Repairers’ Liability Insurances & Claims Memahami Jaminan Polis & Klaim Asuransi Pembangunan Kapal dan Tanggung Jawab Hukum Galangan Kapal The Facilitators IMAM MUSJAB, SE, AIIS, AAIK, ICPU, QIP BAYU SAMUDRO, SE, AAIK, ICPU, ICMarU, ICEU, ... Full story

Asuransi Kapal Dan P&I (Hull & Machinery and Protection & Indemnity) Apa yang dijamin dan Apa saja yang tidak disampaikan oleh Perusahaan Asuransi kepada Anda? The Facilitators: IMAM MUSJAB, SE, AIIS, AAIK, ICPU, QIP BAYU SAMUDRO, SE, AAIK, ICPU, ... Full story

Understanding Personal Accident, Money And Fidelity Insurances & Claims Memahami Jaminan Polis & Klaim Asuransi Kecelakaan Diri, Uang dan Fidelity The Syllabus Training yang akan membahas secara komprehensif mengenai jaminan polis dan klaim asuransi kecelakaan diri, asuransi uang dan asuransi fidelity, meliputi: A. Bedah Polis ... Full story

Onshore & Offshore Energy Insurances Asuransi minyak dan gas & tanggung jawab hukum akibat pekerjaan konstruksi dan eksplorasi minyak dan gas di darat dan lepas pantai The Facilitator: YANSA SASANADHARMA, Ir, MM, AAAIK HENRY RIDHWAN, SE Facilitator adalah praktisi asuransi, ... Full story

Marine Cargo Insurance : Underwriting, Claim and Recovery actions against carriers Asuransi Pengangutan Barang : Underwriting, Klaim dan Tanggung jawab hukum pengengkut dalam hal terjadi kerugian The Facilitator: BAYU SAMUDRO, SE, AAIK, ICPU, ICMarU, ICEU, ICLiU, QIP IMAM MUSJAB, SE, AIIS, AAIK, ICPU, QIP Facilitator adalah praktisi asuransi, Ahli Asuransi ... Full story

Surety Bond & Bank Guarantee : Underwriting & Claims Review Memahami Jaminan dan Klaim Surety Bond & Bank Garansi (Studi kasus klaim penjaminan, masa depan pemasaran Surety Bond Pasca UU No 1 Tahun 2014 tentang: Penjaminan dan pembahasan wordings baru) The Facilitator: A.A. NGURAH ADNYANA DIPTA, SH, MM, AAIK, QIP, ICMOU, ICBU... Full story

Bincang Klaim Asuransi Marine (Marine Insurance Claims Discussion) Kasus bangkrutnya HANJIN (Financial default) Kasus CALEDONIAN SKY (Kerusakan terumbu karang Raja Ampat) Kasus PIRACY (Pembajakan kapal dan terorisme) Kasus Tuntutan Hukum dan Recovery Claim Facilitators:         (1) Novy Rachmat Triana    (2) Nugraha Budi Santoso Moderator:        Imam Musjab @Grand Sahid Jaya Hotel, Jakarta - 28 April 2017 14.00 – 18.00 Bincang Klaim ... Full story

Reasuransi adalah persetujuan antara Penanggung (Ceding company) dan reasuradur, di mana penanggung menyetujui untuk menyerahkan/melimpahkan seluruh atau sebagian risiko atas suatu pertanggungan yang ditutupnya (ditanggung) kepada reasuradur, dan dengan menerima premi dari dari penanggung sebagaimana telah ditetapkan sebelumnya, reasuradur menyetujui untuk membayar ganti rugi kepada Penanggung berhubung dengan kerugian yang terjadi atas pertanggungan yang ditutupnya tersebut, semuanya itu berdasarkan atas syarat-syarat sebagaimana ditetapkan dalam perjanjian Ceding ... Full story

Solusi Lay Up Kapal dan Fase Aktifasinya, Lebih Menantang? Oleh Ir. Sjaifuddin Thahir, MSc. (Mobile : 0817188831)   Sebelum kita mempertimbangkan untuk melakukan keputusan kapal dilakukan lay-up maka kita harus memiliki pertimbangan sebagai berikut: 1. Situasi pasar muatan saat itu sesuai dengan jenis kapal dan perkiraan berapa lama waktu ... Full story

Tutorial & Pembahasan Soal-Soal Ujian Sertifikasi Kompetensi Ajun Ahli dan Ahli, Lini Bisnis Usaha Asuransi Umum LSP AAMAI Oleh : Lembaga Sertifikasi Profesi APLIKASI ASURANSI DAN MANAJEMEN ASURANSI INDONESIA (LSP AAMAI) Sehubungan dengan akan diselenggarakannya Ujian Kompetensi Sertifikasi Profesi Ajun Ahli & Ahli Asuransi, Lini Bisnis Usaha Asuransi Jiwa dan Asuransi Umum serta Manajemen Risiko Perusahaan Perasuransian oleh LSP ... Full story

It is hereby understood and agreed that: Conditions 7.11 Jurisdictional Limitation is deleted in its entirety and replaced by the following: The cover this Policy provides is limited to any Claim brought in a court of law of the state, administrative region, territory or country in which this Policy is issued; Conditions 7.261 Territorial Limitation is deleted in ... Full story

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

It is hereby understood and agreed where a reported Claim requires remediation or mitigation, We will pay the reasonable and direct cost of any remediation or mitigation provided that: written notice of any Claim and the work that is required to rectify it or mitigate its consequences shall be given as soon as practicable during the Period of Insurance; such costs must be supported by ... Full story

It is hereby understood and agreed that notwithstanding anything in this Policy, We 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 (ITEM TO BE EXCLUDED). Full story

It is hereby understood and agreed that if Claims incurred for the current Period of Insurance do not exceed (insert amount), a claim discount of ten percent (10%) (Or insert amount) of the current premium will be given against the renewal premium, provided You renew the policy with Us.  In the event that We do not offer renewal terms, then the claims discount will be ... Full story

It is hereby declared and agreed that this Policy extends to indemnify the insured for all sums which the Insured shall become legally liable to pay as compensation for accidental bodily injury to any person or damage to property caused by the fault or negligence of the Insured’s Executives whilst engaged on the Insured’s business anywhere in the world. Full story

The Insurer will subject to the Limit of Liability stated in the Schedule indemnify the Insured against impact damage to Own Surrounding Property directly resulting from sudden and unforeseen damage as defined in the Specification of this Policy to the machinery described in the Schedule. “Own Surrounding Property” shall mean property belonging to the Insured or in his custody or control other than : a) any ... Full story

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

This policy does not provide indemnity for the manufacturing  of pharmaceutical  products. Full story

It is agreed and declared that this Policy shall not apply to Personal Injury or Property Damage resulting from the failure of the Insured’s Products, or work completed by or for the Insured, to perform the function or serve the purpose intended by the insured if such failure is due to a mistake or deficiency in any design, formula, plan, specification, advertising material or printed ... Full story

4.12.     LOSS OF USE Loss of use of tangible property which has not been physically injured or destroyed resulting from : 4.12.1   a delay in or lack of performance by or on behalf of the Insured of any contract or agreement, 4.12.2.  the failure of the Insured’s Products to meet the level of performance, quality, fitness or durability expressly or impliedly warranted or represented by the Insured. It is ... Full story

The exclusion of property in the charge or under control of the Insured or any servant of the Insured in this Policy shall not apply to loss of or damage to property belonging to the Insured’s customers or suppliers and entrusted to the Insured. This endorsement shall not apply to the Insured’s Legal Liability for loss of or damage to the said property : if such ... Full story

Punitive damages and/or exemplary damages and/or aggravated damages and/or any additional damages resulting from the multiplication of compensatory damages. Full story

It is hereby understood and agreed that this Policy extends to indemnify the Insured’s legal liability for claim in respect of bodily injury or damage to property arising directly or indirectly out of or caused by or in connection with any plant and machinery in the physical or legal control of the Insured or used in work undertaken by or on behalf of the Insured. ... Full story

It is hereby understood and agreed that notwithstanding anything in this Policy, coveris limited to Claims made against You in respect of liability arising from an act, error or omission occurring prior to the effective date (OR INSERT THE SPECIFIC DATE) that such insured entity ceased to exist or operate or was consolidated with, merged into or acquired by another entity, unless otherwise agreed in ... Full story

It is agreed and declared that EXCLUSION 4.19.2 of this policy shall not apply to liability for Property Damage to property of guests or lodgers deposited with the Insured specifically for the safe custody provided that Company’s Limit of Indemnity under this endorsement shall not exceed US$ 10,000.00 any one occurrence. Provided further that Company shall not be liable for : The first US$ 500.00 ... Full story

It is hereby understood and agreed that this Policy extends to indemnify the interest of (NAME OF PRINCIPAL), as Principal, for any Claim first made during the Period of Insurance and notified to Us, against the Principal which arises solely out of work carried out by You and arising from Your Business. No indemnity shall extend to liability arising from activities carried out by (NAME OF ... Full story

The Policy extend to indemnify the Insured in respects of architects’ surveyors’ and consulting engineers’ fees necessarily incurred in the reinstatement of the property insured consequent upon its destruction or damage but not for the preparing of any claim. It is being understood that the amount payable for such fees shall not exceed those authorized under the scale of Royal Institute of British architects or ... Full story

It is hereby understood and agreed that if more than one Policy issued by Us applies to a Claim, thenOur maximum aggregate liability under such policies combined, with respect to such Claim shall be the largest of such applicable limit of indemnity. For the avoidance of doubt, this endorsement is applicable to the following policies only: Insured Organisation   Policy Number Full story

This policy shall indemnify the Insured and any Directors or Executives of the Insured in respect of their private duties : Provided that : Such Director and/or Executive is not entitled to indemnity under any other Policy or policies. The extension by this endorsement shall not apply to or include liability in respect   of    injury   to  any   person   under   a   contract   of  service   or apprenticeship with  ... Full story

It is hereby understood and agreed that theLimit of Indemnity of this Policy shall be non-cumulative with other insurance policies issued by Us and the respective Limits of Indemnity of such other policies shall not increase by virtue of the existence of such other policies. In the event of a Claim arising where more than one policy is issued by Us, then Our maximum Limit ... Full story

It is hereby understood and agreed that in consideration of You paying the additional premium of (ADDITIONAL PREMIUM AMOUNT), the Limit of Indemnity is increased to (NEW LOI) any one claim and in the aggregate inclusive of costs and expenses with effect from (DATE OF ENDORSEMENT). It is further agreed that the new Limit of Indemnity, as provided above, shall only apply to Claims and/or circumstances ... Full story

Notwithstanding anything contained in this policy to the contrary, it is hereby declared and agreed that this policy  is extended to cover insured’s legal liability on the property for which the insured are entrusted and responsible in the event of loss or damage whilst in their custody, care and control. Provided always that in the event of any claim under this extension the insured shall be ... Full story

It is hereby declared and agreed that no liability shall attach to this Policy in respect of any claim made against the Insured based upon or arising out of consequential financial loss incurred by any party additional to the monetary cost of actual repair rectification or replacement of the property and all cost and expenses reasonably and necessarily ... Full story

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

It is a fundamental and absolute special condition of this contract of insurance that the premium due must be paid and received by the Insurer within ninety (90) days from the inception date of this policy/endorsement/renewal certificate, unless otherwise agreed by the Insurer. If this condition is not complied with then this contract is automatically cancelled and the Insurer shall be entitled to the pro rata ... Full story

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

It is hereby understood and agreed that We agree to offer renewal at the expiring terms below subject to the following conditions:   Your Business is unchanged, and Incurred total claims (paid plus outstanding reserves) does not exceed (50% of premium paid), and Change in Turnover is less than 20%, and No change in law that will have the impact of increasing Our exposure, and No ... Full story