Archive for the ‘A to Z’ Category

SUBJECT TO SATISFACTORY SURVEY

BILINGUAL DOWNLOAD DI SINI SUBJECT TO SATISFACTORY SURVEY 1. This Contract/Policy is subject to and conditional upon the Underwriters being satisfied in the Underwriters’ absolute discretion with the results of the Survey to be conducted by the Underwriters on the Property insured hereunder within 30 (thirty) days from inception date of this Contract/Policy. 2. ... Full story

VEHICLE IMPACT CLAUSE (Code 4.11)

VEHICLE IMPACT CLAUSE (Code 4.11) It is hereby declared and agreed that “vehicle impact” under Chapter II-EXCLUSIONS, item 1.2.2. of this Policy is deleted. The insurance hereunder is extended to cover: VEHICLE IMPACT, which for the purpose of this Endorsement shall mean: Damage to the property insured directly resulting from actual physical ... Full story

SMOKE EXTENDED COVER (4.14)

SMOKE EXTENDED COVER (4.14) 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 is not excluded under ... Full story

ENDORSEMEN KERUSUHAN, PEMOGOKAN, PERBUATAN JAHAT DAN HURU-HARA (RSMDCC Kode : 4.1B / 2007)

ENDORSEMEN KERUSUHAN, PEMOGOKAN, PERBUATAN JAHAT DAN HURU-HARA (RSMDCC Kode : 4.1B / 2007) RIOTS, STRIKES, MALICIOUS DAMAGE AND CIVIL COMMOTIONS ENDORSEMENT (RSMDCC Code: 4.1 B / 2007) BILINGUAL DOWNLOAD DI SINI Apakah wording dan klausul-klausul polis yang Anda terbitkan sudah dalam bahasa Indonesia?? Perjanjian (Polis) Tidak Dibuat Dalam Bahasa Indonesia Batal Demi Hukum, Ini Dasar ... Full story

ENDORSEMEN KERUSUHAN, PEMOGOKAN, DAN PERBUATAN JAHAT (RSMD Kode : 4.1A / 2007)

ENDORSEMEN KERUSUHAN, PEMOGOKAN, DAN PERBUATAN JAHAT (RSMD Kode : 4.1A / 2007) RIOTS, STRIKES AND MALICIOUS DAMAGE ENDORSEMENT (Code: 4.1A / 2007) BILINGUAL DOWNLOAD DI SINI Apakah wording dan klausul-klausul polis yang Anda terbitkan sudah dalam bahasa Indonesia?? Perjanjian (Polis) Tidak Dibuat Dalam Bahasa Indonesia Batal Demi Hukum, Ini Dasar Hukumnya. Pusing menerjemahkan wordings dan klausul-klausul ... Full story

Klausul Kewajiban Tertanggung Tentang Kepemilikan dan Pengelolaan Gudang (Warranty)

Download di sini untuk klausul bilingual Klausul Kewajiban Tertanggung Tentang Kepemilikan dan Pengelolaan Gudang (Warranty) Dengan ini Tertanggung menegaskan telah menerima baik semua persyaratan dan ketentuan dalam Polis termasuk Klausul Kewajiban Tertanggung Tentang Kepemilikan dan Pengelolaan Gudang (selanjutnya disebut “Warranty”) ini dan telah membayar lunas premi yang diperhitungkan/dibebankan oleh Perusahaan Asuransi/Penanggung atas pertanggungan dibawah ... Full story

Murder and Assault Clause

It is hereby noted and agreed, and subject to payment of additional premium, this Policy shall be extended to cover death and disablement caused by murders and assaults committed by other people. 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, ... Full story

Comprehensive Cover but Excluding Total Loss

Download di sini untuk klausul bilingual Comprehensive Cover but Excluding Total Loss Notwithstanding anything contained herein to the contrary, It is hereby noted and agreed this insurance does not cover Total Loss. Total Loss shall be defined in accordance with Total Loss Clause or as defined elsewhere under the Policy. Klausul Gabungan Tanpa Kerugian Total Menyimpang ... Full story

Klausul Administrasi Barang Dagangan & Risiko Sendiri

Download di sini untuk klausul bilingual Klausul Administrasi Barang Dagangan & Risiko Sendiri Dengan ini dicatat dan disetujui bahwa atas pertanggungan ini berlaku ketentuan-ketentuan sebagai berikut: 1. Selama masa pertanggungan ini, Tertanggung wajib menyelenggarakan administrasi barang dagangan dan/atau persediaan barang dagangan yang dipertanggungkan sehingga setiap saat diperlukan dapat ... Full story

D.A.I. LAND AND AIR TRANSIT CLAUSE COVER A

KLAUSUL D.A.I. PENGANGKUTAN DARAT DAN UDARA JAMINAN A BILINGUAL DOWNLOAD DI SINI Apakah wording dan klausul-klausul polis yang Anda terbitkan sudah dalam bahasa Indonesia?? Perjanjian (Polis) Tidak Dibuat Dalam Bahasa Indonesia Batal Demi Hukum, Ini Dasar Hukumnya. Pusing menerjemahkan wordings dan klausul-klausul polis Anda? Penerjemah biasa mungkin tidak akan paham bahasa, istilah dan praktik asuransi. Mungkin Anda akan ... Full story

D.A.I. LAND AND AIR TRANSIT CLAUSE COVER B

KLAUSUL D.A.I. PENGANGKUTAN DARAT DAN UDARA JAMINAN B BILINGUAL DOWNLOAD DI SINI Apakah wording dan klausul-klausul polis yang Anda terbitkan sudah dalam bahasa Indonesia?? Perjanjian (Polis) Tidak Dibuat Dalam Bahasa Indonesia Batal Demi Hukum, Ini Dasar Hukumnya. Pusing menerjemahkan wordings dan klausul-klausul polis Anda? Penerjemah biasa mungkin tidak akan paham bahasa, istilah dan praktik asuransi. Mungkin Anda akan ... Full story

Increased Value on Arrival Clause

Where applicable, the Insurer shall pay the increased value on arrival through the payment of freight and/or duty and/or landing and similar charges if incurred, provided always that such amounts are included in the insured value declared and Premium paid thereon. It is a condition of the Assured’s right of recovery under this Clause that the Assured undertakes ... Full story

Including hijacking and piracy

It is hereby understood and agreed that this insurance is extended to cover loss of or damage to the subject matter insured caused by hijacking, piracy, theft or robbery or by non‐delivery of an entire package. Termasuk jaminan atas risiko pembajakan dan perompakan Dengan ini dipahami dan disetujui bahwa asuransi ini diperluas untuk ... Full story

Including Temporary Storage (30 days)

It is understood and agreed that the insurance under this policy extends to include the temporary storage of cargo to a maximum limit of …………….. any one location in the Republic of Indonesia other than that specified in the Policy up to maximum period of 30 (thirty) days upon arrival. The extension, however does not apply to property ... Full story

Missing Vessels Clause

This insurance is to pay total loss in the event of any of the insured vessels being missing during the currency of this policy. Any vessel recorded at Lloyd’s as “Untraced” or posted “Missing” for a continuous period of 6 (six) months should be deemed to constitute an Actual Total Loss. No claim shall attach under this missing vessel clause when ... Full story

Bottom Painting Clause

It is agreed that the cost of scraping, grit and/of sand basting and/or other surface preparation or painting of vessel's bottom shall be charged to the Underwriters, including but not limited to supplying/applying of prime-coating, anti-corrosive and anti fouling, incurred as part of reasonable cost of repairs. Klausul Pengecatan Lunas Kapal Dengan ini disepakati bahwa ... Full story

Concealed Damage Clause (30 days)

This policy terminates in accordance with the Transit Clause forming part of the relevant Institute Cargo Clauses herein, but it is hereby understood and agreed that any claim hereunder will not be prejudiced by delay in calling for survey providing such delay does not exceed 30 days after the termination of this insurance, provided always that if the packages arrive on site with ... Full story

Work Away Clause

It is agreed that the insurance by this policy is extended to cover within the terms, exceptions and conditions of the policy, the legal liability of the insured in respect of work connected with the business being carried out by the insured away from the premises described in this policy. Klausul bekerja di luar lokasi pertanggungan Dengan ini disepakati bahwa polis ... Full story

KLAUSUL PERSELISIHAN

Dispute Clause yang baru download di sini 1. Apabila timbul perselisihan antara Penanggung dan Tertanggung sebagai akibat dari penafsiran atas tanggung jawab atau besarnya ganti rugi dari Polis ini, maka perselisihan tersebut akan diselesaikan melalui perdamaian atau musyawarah dalam waktu paling lama 60 (enam puluh) hari kalender sejak timbulnya perselisihan. Perselisihan timbul sejak Tertanggung atau Penanggung menyatakan secara tertulis ... Full story

Collision With Land Vehicle (including own vehicle)

This insurance covers loss of or damage to insured property caused by impact by land vehicles, whether or not motorized, including damage caused by vehicles owned or used (in the course and scope of their employment) by or in the custody of the assured or its agents. Benturan Dengan Kendaraan Darat (termasuk kendaraan sendiri)... Full story

Automatic Cover for Newly Acquired Machinery

It is hereby noted and agreed that during the period of this insurance any newly completed Machinery or newly acquired Machinery shall be automatically covered in so far as the same are not otherwise insured. Any increase in the new replacement value as a result of such capital additions shall not exceed 10% (ten percent) of the total ... Full story

Alternative Accommodation Clause

It is hereby declared and agreed that this policy is extended to cover the cost of alternative accommodation (temporarily) should the building hereby insured becomes untenantable or uninhabitable following loss or damage recoverable under the policy, subject to a maximum amount of …….. % of the building’s total sum insured. Klausul Akomodasi Alternatif Dengan ini ... Full story

Automatic Increase Clause

The indemnity provided under this Policy shall apply automatically to include any increase in Sum Insured in the Schedule but the liability of the Insurer(s) for such increase shall not exceed 10% (ten percent) of the Total Sum Insured on each item. It is understood that the Insured shall advise the Insurer(s) of all such increase in Sum Insured within 30 ... Full story

Klausul Asuransi Syariah

Definisi syariah Menyimpang dari arti yang berbeda yang mungkin diberikan oleh peraturan hukum yang berlaku, untuk keperluan polis ini semua istilah yang dicetak miring diartikan sebagaimana diuraikan berikut ini: Asuransi syariah adalah usaha saling tolong menolong (ta`awuni) dan melindungi (takafuli) di antara para peserta melalui pembentukan kumpulan dana (dana tabarru`) yang dikelola sesuai prinsip ... Full story

Klausul Pengecualian Ibadah Haji

Menyimpang dari hal-hal yang bertentangan dalam Polis ini, dengan ini dicatat dan disetujui bahwa Polis ini tidak menjamin kematian atau cacat yang diderita oleh Tertanggung dan/atau Orang yang dipertanggungkan akibat kecelakaan selama melaksanakan kegiatan yang berkaitan dengan ibadah haji Hajj Exclusion Clause Notwithstanding anything contained herein to the contrary, It is noted and agreed that this Policy does not cover death or disablement ... Full story

Klausul Kehamilan atau Melahirkan

Polis ini tidak menjamin kematian atau cacat atau biaya pengobatan yang diderita oleh Tertanggung dan/atau Orang yang dipertanggungkan karena kehamilan, melahirkan, keguguran atau pengguguran kandungan atau orang yang dipertanggungkan menderita penyakit jiwa, penyakit kelamin, kelemahan atau cacat fisik atau mental yang sudah ada sebelumnya. Pregnancy or Childbirth Clause This Policy does not cover death or disablement or medical expenses sustained by the Insured ... Full story

Klausul Berpergian Menggunakan Pesawat Reguler (Commercial) atau Sewa (Chartered), Kecuali Helikopter

Dengan ini dicatat dan disetujui bahwa dengan adanya tambahan premi, Polis ini menjamin risiko kematian atau cacat tetap yang diderita oleh Tertanggung dan/atau Orang yang dipertangungkan pada saat perjalanan udara sebagai penumpang resmi pada penerbangan yang telah diakui yang  beroperasi pada rute penerbangan yang  terjadwal dan secara teratur; atau sebagai penumpang pada pesawat udara sewaan yang dioperasikan oleh  perusahaan penerbangan udara ... Full story

Sister Car Clause

In the event of collision between motor vehicle owned by the Insured, and which are insured under this Policy, only one Physical Damage Deductible will apply. Should different deductible apply to the vehicle insured, the largest deductible applying will apply. Klausul Sister Car Jika terjadi tabrakan antara kendaraan bermotor yang dimiliki oleh Tertanggung, dan yang diasuransikan berdasarkan Polis ini, hanya satu Risiko Sendiri yang ... Full story

Completely Built-Up (CBU) Motor Vehicle Mandatory Clause

Notwithstanding anything herein contained to the contrary, It is hereby noted and agreed that in respect of a `Completely Built-Up' Motor Vehicle is subject to the following provisions: If immediately prior to the loss/damage, the Sum Insured is equal to or higher than the CIF price of a similar vehicle (Completely Built Up Motor Vehicle) plus import duties, then the basis ... Full story

Warehouse to Warehouse Clause

This insurance attaches from the time the subject-matter insured is first moved in the warehouse or at the place of storage (at the place named in the contract of insurance) for the purpose of the immediate loading into or onto the carrying vehicle or other conveyance for the commencement of transit, continues during the ordinary course of transit, and terminates on completion of ... Full story

Adequate Lashing and Securing Warranty

Warranted that the cargo, machine or equipment shipped must be secured with a safety lashing and adequate cargo securing. Lashing must be done correctly according to the size, weight, and equipment type to prevent the cargo, machine or equipment from moving, falling, or getting damaged over rough journeys. When the lashing is not done correctly, This insurance will not cover any ... Full story

Extra Contractual Obligation Exclusion Clause

All cover in respect of extra-contractual obligations howsoever arising, such extra-contractual obligations being defined as any award made by a court of competent jurisdiction against an insurer or reinsurer, which award is not within the coverage granted by any insurance and/or reinsurance contract made between the parties in dispute, unless such extra-contractual obligation is incurred as a result of the Reinsured`s ... Full story

Disappearance Clause (365 Days)

When an aircraft or a vessel which the Insured is aboard has disappeared or met a disaster and the Insured has not been found within 365 days commencing from the date of such disappearance or disaster, it shall be presumed that the Insured suffered loss of life resulting from bodily injury caused by any sudden, and external accident as of the date such ... Full story

Institute Cyber Attack Exclusion Clause (CL.380)

Institute Cyber Attack Exclusion Clause adalah klausula yang umumnya dilekatkan pada treaty reasuransi property. Secara singkat klausula ini mengecualikan kerugian atau kerusakan yang disebabkan oleh penggunaan jaringan dunia maya, seperti serangan virus, ataupun kerusakan lain yang berhubungan dengan dunia maya (cyber). Isi dari klausula CL.380 adalah sebagai berikut : 1.1 Subject only to clause 1.2 below, in no case shall this ... Full story

JOINT EXCESS LOSS CYBER LOSSES CLAUSE (JX2020-007)

JOINT EXCESS LOSS CYBER LOSSES CLAUSE (JX2020-007) 1. Notwithstanding any other term of this Contract save for Clause 2 below, in no case shall this Contract cover loss, damage, liability, or expense directly or indirectly caused by or contributed to by or arising from the use or operation of an Information Technology Device as a means for inflicting ... Full story

LMA5506 Communicable Disease Endorsement (For use on US Errors and Omissions policies)

COMMUNICABLE DISEASE ENDORSEMENT (For use on US Errors & Omissions policies) 1. Notwithstanding any other provision of this policy to the contrary, this policy imposes no duty to defend, and does not cover, any actual or alleged loss, liability, damage, compensation, injury, sickness, disease, death, medical payment, defence cost, cost, expense or any other amount, directly or ... Full story
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LMA5505 Limited Communicable Disease Exclusion No. 3 (Property Treaty Reinsurance – Risk)

LIMITED COMMUNICABLE DISEASE EXCLUSION No. 3 (PROPERTY TREATY REINSURANCE - RISK) 1. Notwithstanding any provision to the contrary within this reinsurance agreement, this reinsurance agreement excludes any loss, damage, liability, claim, cost or expense of whatsoever nature, directly or indirectly caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease ... Full story
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LMA5427 Political Risk Cyber Endorsement (for use with Political Risk/Political Violence Package Business)

Political Risk Cyber Endorsement (for use with Political Risk/Political Violence Package Business) 1. Subject only to paragraphs 3 and 4 below, in no case shall this insurance cover loss, damage, liability or expense directly or indirectly caused by or contributed to by or arising from the use or operation, as a means for inflicting harm, of any computer, computer system, computer software programme, ... Full story
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LMA5504 Occupational Disease and Cumulative Trauma Endorsement (US Casualty Treaty)

Occupational Disease and Cumulative Trauma Endorsement 1. This reinsurance agreement does not apply to and specifically excludes Occupational Disease and Cumulative Trauma losses unless such losses arise as a result of a sudden and accidental event which takes place in its entirety at a specific location, does not exceed any period of 48 continuous hours in duration, and involves injury, disability or death. For the ... Full story
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LMA5503 Limited Communicable Disease Exclusion No.2 – (Property Treaty Reinsurance)

LIMITED COMMUNICABLE DISEASE EXCLUSION No. 2 (PROPERTY TREATY REINSURANCE) 1. Notwithstanding any provision to the contrary within this reinsurance agreement, this reinsurance agreement excludes any loss, damage, liability, claim, cost or expense of whatsoever nature, directly or indirectly caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease or the ... Full story
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LMA5502 Limited Communicable Disease Exclusion No.1 – (Property Treaty Reinsurance)

LIMITED COMMUNICABLE DISEASE EXCLUSION No. 1 (PROPERTY TREATY REINSURANCE) 1. Notwithstanding any provision to the contrary within this reinsurance agreement, this reinsurance agreement excludes any loss, damage, liability, claim, cost or expense of whatsoever nature, directly or indirectly caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease or the ... Full story
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LMA5501 Political Risk Communicable Disease Exclusion

Political Risk Communicable Disease Exclusion 1. This Policy excludes any loss caused by or arising out of any action taken by a government (as defined in the Policy) in controlling, preventing, suppressing or in any way relating to any actual or suspected Communicable Disease. 2. Communicable Disease means any disease which can be transmitted by means of any substance or agent from any organism ... Full story

LMA5500 Infectious or Contagious Disease Exclusion during a PHEIC (for use on consumer and commercial Accident/Accident & illness policies)

Infectious or Contagious Disease Exclusion during a PHEIC (for use on consumer and commercial Accident/ Accident & Illness policies) 1. {Your insurance policy} / {This Insurance} does not cover claims in any way caused by or resulting from an infectious or contagious disease, an outbreak of which has been declared a Public Health Emergency of ... Full story

LMA5399 Communicable Disease Exclusion (Casualty Treaty Reinsurance)

COMMUNICABLE DISEASE EXCLUSION (CASUALTY TREATY REINSURANCE) 1. Notwithstanding any provision to the contrary within this reinsurance agreement, this reinsurance agreement excludes all actual or alleged loss, liability, damage, compensation, injury, sickness, disease, death, medical payment, defence cost, cost, expense or any other amount incurred by or accruing to the reinsured, directly or indirectly and regardless of any other cause contributing concurrently or in any ... Full story
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LMA5398 UK Property – Infectious or Contagious Disease Exclusion

INFECTIOUS OR CONTAGIOUS DISEASE EXCLUSION (for use on UK consumer and commercial property risks) Your Insurance Policy does not / This Insurance does not {delete as applicable} cover any loss, damage, liability, cost or expense, in any way caused by or resulting from: a) infectious or contagious disease; b) any fear or threat of a) above; or c) any action taken to minimise or prevent the impact of ... Full story
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Klausul-Klausul Coronavirus atau Communicable Disease

Sebagai respon terhadap merebaknya virus corona (Covid-19), Lloyd's Market Association (LMA) mengeluarkan klausul-klausul coronavirus atau communicable disease untuk dipergunakan pada lini asuransi masing-masing sbb: Recently issued wordings LMA5391  Coronavirus Exclusion LMA5392  Limited Automatic Extension – Prevention of Access to Lloyd’s of London LMA5393  Communicable Disease Endorsement... Full story

JC2020-012 Communicable Disease Exclusion and Sub-Limited Writeback – Cargo

COMMUNICABLE DISEASE EXCLUSION AND SUB-LIMITED WRITEBACK (Cargo) 1. Notwithstanding any provision to the contrary within this insurance, this insurance does not insure any loss, damage, liability, claim, cost or expense of whatsoever nature, caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease or the fear or threat (whether actual ... Full story

JC2020-011 Communicable Disease Exclusion – Cargo

COMMUNICABLE DISEASE EXCLUSION (Cargo) 1. Notwithstanding any provision to the contrary within this insurance, this insurance does not insure any loss, damage, liability, claim, cost or expense of whatsoever nature caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease or the fear or threat (whether actual or perceived) of ... Full story

JR2020-016 JRC Communicable Disease Endorsement

JRC Communicable Disease Endorsement (For use on energy policies) 1. Notwithstanding any provision to the contrary within this insurance, this insurance does not insure any loss, damage, liability, claim, cost, expense or other sum caused by a Communicable Disease or the fear or threat (whether actual or perceived) of a Communicable Disease. 2. For ... Full story

LMA5397 Communicable Disease Exclusion (For use on power generation, construction and engineering policies)

COMMUNICABLE DISEASE EXCLUSION (For use on power generation, construction and engineering policies) 1. Notwithstanding any provision to the contrary within this insurance, this insurance does not insure any loss, damage, claim, cost or expense of whatsoever nature directly or indirectly caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease ... Full story

LMA5396 Communicable Disease Exclusion (For use on liability policies)

COMMUNICABLE DISEASE EXCLUSION (For use on liability policies) 1. Notwithstanding any provision to the contrary within this policy, this policy does not cover all actual or alleged loss, liability, damage, compensation, injury, sickness, disease, death, medical payment, defence cost, cost, expense or any other amount, directly or indirectly and regardless of any other cause contributing concurrently or in any sequence, originating from, caused by, arising out of, ... Full story

LMA5395 Coronavirus Exclusion (for use on marine and energy liability policies)

CORONAVIRUS EXCLUSION (for use on marine and energy liability policies) This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith. This insurance excludes coverage for: 1) any loss, damage, liability, cost, or expense directly arising from the transmission or alleged transmission of: a) Coronavirus disease (COVID-19); b) Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2); or c) any mutation or variation of SARS-CoV-2; or from any fear or threat of ... Full story

New Bulk Oil Clauses (2019)

Further to revisions of other clauses, the Joint Cargo Committee has now drafted a new set of Bulk Oil Clauses and Storage Clauses which, following broker consultation, are available for immediate use, as appropriate. CL433 Institute Bulk Oil Clauses/All Risks + Guaranteed Outturn 01/08/2019 CL434 Institute Bulk Oil Clauses - All Risks 01/08/2019 CL435 Liquid Cargo Storage Extension Clause 01/08/2019... Full story

LMA5394 COMMUNICABLE DISEASE EXCLUSION (PROPERTY TREATY REINSURANCE)

1. Notwithstanding any provision to the contrary within this reinsurance agreement, this reinsurance agreement excludes any loss, damage, liability, claim, cost or expense of whatsoever nature, directly or indirectly caused by, contributed to by, resulting from, arising out of, or in connection with a Communicable Disease or the fear or threat (whether actual or perceived) of a Communicable Disease regardless of ... Full story

LMA5393 COMMUNICABLE DISEASE ENDORSEMENT

COMMUNICABLE DISEASE ENDORSEMENT (For use on property policies) 1. This policy, subject to all applicable terms, conditions and exclusions, covers losses attributable to direct physical loss or physical damage occurring during the period of insurance. Consequently and notwithstanding any other provision of this policy to the contrary, this policy does not insure any loss, damage, claim, cost, expense or other sum, directly or ... Full story

LMA5391 CORONAVIRUS EXCLUSION

Your Insurance Policy does not / This Insurance does not {delete as applicable} cover any claim in any way caused by or resulting from: a) Coronavirus disease (COVID-19); b) Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2); c) any mutation or variation of SARS-CoV-2; d) any fear or threat of a), b) or c) above. LMA5391 04 March ... Full story

Infectious or Contagious Diseases Exclusion Clause

This Policy does not cover Liability or Loss or Damage or Cost or Expense arising directly or indirectly caused by or arising out of, contributed to or aggravated by Severe Acute Respiratory Syndrome (SARS), Coronavirus (COVID-19), H5N1, H1n1, and any mutation of H5N1 and all other infectious or human contagious diseases. Klausul Pengecualian Wabah Penyakit Infeksi atau Penyakit Menular Polis ini ... Full story

CONTRACTUAL AGREEMENTS

Where in the ordinary course of business the Insured enters into a contractual agreement which provides that the Insured shall indemnify and/or hold harmless and/or release from liability another party in respect of loss, destruction or damage which may occur as the result of any cause or event insured against by this Policy, this insurance shall not be prejudiced by the ... Full story

PREMIUM ADJUSTMENTS

The Insured shall at the commencement of each Period of Insurance provide as soon as practicable to the Insurer(s) a Schedule setting out in detail, and which the Insured warrants is to the best of its knowledge and belief: a) the cost of reinstatement or indemnity value at the time of all insured property according to the basis ... Full story

SUBROGATION WAIVER

The Insurer agrees to waive any rights and remedies or relief to which it/they may become entitled by subrogation against: (a) any corporation or organisation (including its directors, officers, employees or servants) owned or controlled by any Insured named herein or subsidiary to any Insured named herein or any co-owner of the Property Insured hereunder;... Full story

EVENT

All loss or damage caused by earthquake, flood, storm, riots, strikes or civil commotion, and occurring during any one period of 72 consecutive hours commencing during the period of insurance, shall be deemed to have been caused by a single event commencing on the first happening of loss or damage. Full story

AMOUNT OF POLICY NOT REDUCED BY LOSS

The insurance under each section and/or item of this Policy and the Indemnity Period shall be automatically reinstated in the event of any loss in consideration of the payment by the Insured of a pro-rata additional premium calculated on the amount of the loss settlement at the rates agreed for the Period of Insurance. Full story

TRADE EXHIBITIONS

Loss as insured by this Policy resulting from interruption of or interference with the Business owing to the curtailment of any trade exhibition in consequence of damage at such situation(s) and/or to property exhibited therein by the Insured shall be deemed to be loss resulting from Damage to property used by the Insured at the Premises for the purpose of the ... Full story

ROYALTIES RECEIVABLE

Loss of royalties receivable in consequence of Damage to property at the specified premises anywhere in the world of any company, firm or person identified in the Schedule against ‘Royalties Receivable’ shall, subject to the Sub-Limit stated in the Schedule, be deemed to be loss resulting from Damage to property used by the Insured at the Insured Premises for the purpose ... Full story

GOVERNMENT INCENTIVE

The definition of ‘Turnover’ is extended to include financial incentives or concessions granted to the Insured by any Australian or state government department in recognition of specific performance in the development of market opportunities or employment of disadvantaged persons. Full story

ACCOUNTS RECEIVABLE

The insurance under this Memorandum is limited to the loss sustained by the Insured in respect of all outstanding debit balances provided the Insured is unable to effect collection thereof as the direct result of Damage to records of accounts receivable by a peril not excluded by this Policy. In addition, the Insurer will pay:... Full story

REGISTERED VEHICLES &/OR TRAILERS

Notwithstanding the provisions of Property Exclusion 5, this Policy extends to include loss resulting from interruption of or interference with the Business occasioned by Damage to registered vehicles &/or trailers whilst such vehicles or trailers are at the Premises owned or occupied by the Insured; provided always that this Policy does not cover loss resulting from physical loss, destruction of or ... Full story

INFECTIOUS OR CONTAGIOUS DISEASES, VERMIN, PESTS OR DEFECTIVE SANITARY ARRANGEMENTS; FOOD OR DRINK POISONING; MURDER, SUICIDE

Loss as insured by the Policy resulting from interruption of or interference with the Business directly or indirectly arising from: (a) Infectious or contagious disease manifested by any person whilst at the Premises; (b) Closure or evacuation of the whole or part of the Premises by order of a competent public Authority consequent upon vermin ... Full story

UNSPECIFIED SUPPLIERS’ &/OR CUSTOMERS’ PREMISES (FIXED LIMIT)

Loss resulting from interruption of or interference with the business in consequence of Damage to property at the premises, anywhere in Australia, of any producer or merchant (or in the vicinity of such premises, which prevents or hinders the use of or access to such premises) shall be deemed to be loss resulting from Damage to property used by the Insured ... Full story

PREMISES IN THE VICINITY (PREVENTION OF ACCESS)

Loss as Insured by this Policy resulting from interruption of or interference with the Business in consequence of damage to property in the vicinity of the Premises caused by a peril, damage as a result of which is insured hereunder, which shall prevent or hinder the use thereof or access thereto, whether the Premises or property of the Insured therein shall ... Full story

SALVAGE SALE

If, following Damage giving rise to a claim under this Policy, the Insured shall hold a salvage sale during the Indemnity Period: (i) Clause (a) of Item 1 of this Section shall, for the purpose of such claim, read as follows: (a) In respect of Reduction in Turnover the sum produced by applying the ... Full story

COMPUTER

This Policy extends to include loss (not otherwise recoverable) resulting from interruption of or interference with the Business occasioned by Damage to computer installations, including ancillary equipment and data processing media utilised by the Insured anywhere in Australia. Full story

TURNOVER/OUTPUT ALTERNATIVE

At the option of the Insured the term 'Output' may be substituted for the term 'Turnover' and, for the purpose of this Policy, 'Output' shall mean the sale and/or invoice value of goods manufactured and/or processed by the Insured in course of the Business at the Premises. Provided that only one such meaning shall be operative in connection with any one ... Full story

PUBLIC UTILITIES EXTENSION

Any loss resulting from interruption of or interference with the Business in consequence of damage (as herein defined) to property either at or away from the premises, belonging to or under the control of suppliers of electricity, communication services, power, gas, steam, water or sewerage reticulation control systems shall be deemed to be loss resulting from Damage to Property used by ... Full story

BOOKS OF ACCOUNT

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 for the purpose of investigating or verifying any claim hereunder may be produced and certified by the Insured's auditors and their certificate shall be prima facie evidence of the particulars and details to which such certificate relates.... Full story

ACCUMULATED STOCKS

In adjusting any loss, account shall be taken and equitable allowance made if any Shortage in Turnover due to the Damage is postponed by reason of the Turnover being temporarily maintained from accumulated stocks of finished goods. Full story

NEW BUSINESS

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 Gross Profit earned on Turnover during the period between the date of ... Full story

DEPARTMENTAL CLAUSE

If the Business be conducted in departments the independent trading results of which are ascertainable the provisions of clauses (a) and (b) of Item Nos. 1 and 3 shall apply separately to each department affected by the Damage. Full story

TURNOVER ELSEWHERE AFTER DAMAGE

If during the Indemnity Period goods shall be sold or services shall be rendered elsewhere than at the Premises for the benefit of the Business either by the Insured or by the others on the Insured's behalf, the money paid or payable in respect of such sales or services shall be brought into account in arriving at the Turnover during the ... Full story

LANDSCAPING

Notwithstanding Property Exclusions 7 and 8, the Property Insured and Basis of Settlement Clause (a) are extended to include landscaping, which term includes: trees, shrubs, plants (not intended for commercial purposes), lawns, garden plots, rockwork, paving and ornamentation pertaining thereto. Provided that cover provided under this clause shall not exceed any sub-limit if expressed in the Schedule. Full story

CONSTRUCTIVE TOTAL LOSS

Where any property insured hereunder, or any part thereof, is reasonably abandoned: (a) on account of its actual total loss or destruction appearing to be unavoidable; or (b) because it could not be preserved from actual total loss or destruction without the Insured incurring an expenditure which would exceed its repaired and/or recovered value;... Full story

FUSION

Notwithstanding anything contained in Property Exclusion 15 to the contrary, this Policy extends to indemnify the Insured against physical loss, destruction of or damage to any part or parts of the electrical, electro-mechanical and electronic machines, switchboards, installations or apparatus forming part of the Property Insured (excluding rectifiers, radio, television or amplifying equipment of any description) caused by the actual burning ... Full story

DEPRECIATION OF PROPERTY INSURED AND UNDAMAGED STOCK

This Policy extends to include loss sustained by the Insured as the result of; (a) depreciation of undamaged stock which cannot be processed promptly due to interruption of, or interference with, the Business in consequence of damage to. Property Insured. Provided that such loss shall not exceed any sub-limit as expressed in the Schedule. (b) ... Full story

EXPEDITING EXPENSES

This Policy extends to include costs and expenses reasonably incurred by the Insured for express carriage rates and extra payments for overtime, night, Sunday or holiday working incurred in connection with the repair or reinstatement of the Property Insured directly or indirectly arising from an event insured by the Policy provided that such expediting expenses shall not exceed fifty (50%) per ... Full story

OUTSIDE PREMISES STORAGE

Where the Insured enters into a contract for storage of goods and/or merchandise and the terms of such contract contain a disclaimer clause in favour of the bailee then the insurance herein shall not be prejudiced by the Insured agreeing to such terms. Full story

LEASED BUILDINGS

Where the Insured (as Lessee) enters or has entered into any lease agreement which contains any covenants or provisions that the Lessee shall be responsible for reinstatement of any parts of the premises following damage thereto by any cause or event insured against by this Policy, and/or the Lessee shall indemnify and/or hold harmless and/or release from liability the Lessor against ... Full story

REINSTATEMENT OF DAMAGE BY THE INSURED

In the event of any claim hereunder the Insured may, with the consent of the Insurer, reinstate damaged Property Insured and the Insurer shall pay the cost of such reinstatement (including the value of labour and other overhead charges expended thereon together with a margin for profit which would otherwise have been earned by the Insured); provided always that the liability ... Full story

UNDAMAGED BUILDINGS

In the event of any buildings insured hereunder being damaged and due to the exercising of statutory powers and/or delegated legislation and/or authority by any Government Department, Local Government or other Statutory Authority reinstatement of such buildings has to be carried out upon any other site then the abandoned undamaged portions of such buildings will be considered as being destroyed; provided ... Full story

UNDAMAGED FOUNDATIONS

Where any Property Insured hereunder is damaged but the foundations thereof are undamaged and due to the exercising of statutory powers and/or delegated legislation and/or authority by any Government Department, Local Government or other Statutory Authority reinstatement of the damaged property has to be carried out upon any other site then the abandoned foundations will be considered as being destroyed; provided ... Full story

OUTPUT REPLACEMENT

If any interest insured under this Policy constitutes property which has a measurable output and which is capable of replacement with a new item or items which perform a similar function then such property shall be valued for insurance purposes as follows, and values for the settlement of any damage in respect thereof shall be on the same basis:... Full story

FIRE BRIGADE ATTENDANCE CHARGES

Subject to the liability of the Insurer not being increased beyond the Limits of Liability stated herein, Section A of this Policy extends to include the Insured’s statutory liability to pay fire brigade attendance charges where the amount of any damage (not otherwise excluded by this Policy) falls within the amount of any applicable Deductible. The amount payable ... Full story

DESIGNATION

For the purpose of ascertaining the classification under which any property is insured the Insurer agrees to accept the designation applied to such property by the Insured in their records. Full story

DESTRUCTION OF SOUND PROPERTY

The Insurer agrees to pay to the Insured the costs of destruction, demolition and restoration of sound property where such destruction or demolition is necessary for reinstatement or repair consequent upon destruction or damage to the Property Insured. Where the Insurer and Insured cannot agree upon the necessity for such reinstatement or repair, an independent qualified engineer will ... Full story

ACQUIRED COMPANIES

The Policy extends to include property in Australia (to the extent that such property is not otherwise insured) belonging to Companies and/or other entities purchased or otherwise acquired and/or over which the Insured acquires direct or indirect managerial control and/or responsibility to arrange insurance during the currency of this Policy. Provided always that the business of the new acquisition shall be similar to ... Full story

LOSS OF LAND VALUE

(a) In the event of the absolute refusal by the competent local or Government authority to allow the reconstruction of the premises following destruction or damage the Insurer shall pay by way of indemnity the difference between the Land Value before and after the destruction or damage; or (b) In the event of the competent local or Government authority allowing partial reconstruction ... Full story

FLOOR SPACE RATIO INDEX (PLOT RATIO)

In the event of the buildings being damaged so as to constitute total loss or constructive total loss and, (as a result of the exercise of statutory powers and/or authority by any Government Department, Local Government or any other Statutory Authority), reinstatement of the building as before is prohibited and reinstatement is only permissible subject to a reduced Floor Space Ratio Index.... Full story

ADDITIONAL EXTRA COST OF REINSTATEMENT

ADDITIONAL EXTRA COST OF REINSTATEMENT (APPLICABLE TO BUILDINGS, MACHINERY, PLANT AND CONTENTS; OTHER THAN STOCKS) This Policy extends to cover the additional extra cost of reinstatement (including the demolition or dismantling of any part of damaged Property Insured, necessarily incurred by the Insured, to comply with the requirements of any Act of Parliament or Regulation made thereunder or any By-Law or Regulation of ... Full story

EXTRA COST OF REINSTATEMENT

EXTRA COST OF REINSTATEMENT (APPLICABLE TO BUILDINGS, MACHINERY, PLANT AND CONTENTS; OTHER THAN STOCKS) This Policy extends to include the extra cost of reinstatement (including demolition or dismantling) of damaged property necessarily incurred to comply with the requirements of any Act of Parliament or Regulation made thereunder or any By-Law or Regulation of any Municipal or other Statutory ... Full story

BRANDED GOODS

In the assessment of any claim for branded goods and/or merchandise covered by this Policy, it is hereby expressly declared and agreed that: Goods damaged or suspected of being damaged by any cause or event not herein excluded (hereinafter referred to as salvaged goods) shall not be disposed of by sale or otherwise without the written consent of ... Full story

INTERESTS OF OTHER PARTIES

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 any mortgage, lease, hiring or rental agreement or any other form of financial or equity agreement and it is understood and agreed that the receipt(s) of any such parties for any claims settlements under this Policy ... Full story
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