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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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

Warranted no nickel to be carried

There shall be no cover under this policy in respect of any liabilities, costs or expenses which arise by reason of the use of the Insured Vessel(s) for the carriage of nickel. Warranti / persyaratan tidak mengangkut nikel Tidak ada jaminan berdasarkan polis ini sehubungan dengan tanggung jawab hukum, biaya atau beban yang timbul akibat penggunaan Kapal yang Dipertanggungkan untuk pengangkutan nikel. Full story
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Warranted no logs to be carried

There shall be no cover under this policy in respect of any liabilities, costs or expenses which arise by reason of the use of the Insured Vessel(s) for the carriage of logs. Warranti / persyaratan tidak mengangkut kayu gelondongan (logs) Tidak ada jaminan berdasarkan polis ini sehubungan dengan tanggung jawab hukum, biaya atau beban yang timbul akibat penggunaan Kapal yang Dipertanggungkan untuk pengangkutan kayu gelondongan. Full story
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Warranted vessels(s) BKI classed and class maintained

Warranted vessels(s) BKI classed and class maintained. There shall be no cover under this policy in respect of any liabilities, costs or expenses which arise by reason of the use of the Insured Vessel(s) that is not BKI classed and class maintained. Warranti / persyaratan kapal harus klas BKI dan klas maintain Warranti / persyaratan kapal harus klas BKI dan klas maintain. Tidak ada jaminan ... Full story
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Warranted trading within Indonesian waters

Warranted trading within Indonesian waters. There shall be no cover under this policy in respect of any liabilities, costs or expenses which arise by reason of the use of the Insured Vessel(s) trading outside Indonesian waters. Warranti / persyaratan penggunaan kapal di wilayah perairan Indonesia Warranti / persyaratan penggunaan kapal di wilayah perairan Indonesia saja. Tidak ada jaminan berdasarkan polis ini sehubungan dengan tanggung jawab ... Full story
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Liability Exclusions

Liability Exclusions Offshore Risks This Policy does not cover Personal Injury or Property Damage or Advertising Liability or any other loss, cost or expense arising directly or indirectly from or caused by, contributed to by or arising from Work performed on offshore gas and oil platforms Absolute Asbestos and Silica This Policy does not cover Any actual or alleged liability whatsoever for any claim or claims in respect of ... Full story
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Gross earnings endorsement

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
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Discontinuance of business clause endorsement

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
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Service interruption endorsement

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
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Civil authority interruption endorsement

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
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Denial of access endorsement

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
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Contingent business interruption endorsement

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
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Public authorities endorsement

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

Professional accountants clause endorsement

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
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Fine art endorsement

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
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Time excess and monetary deductible clause

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
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Brands and labels clause

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
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Accounting records clause

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
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Misdescription of property insured clause

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
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Removal of debris clause

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
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Fire-fighting expenses clause

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
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Expediting and preservation expenses clause

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
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Capital additions clause

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
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Theft Exclusion Clause

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
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EPI 63 Storage Tanks

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
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EPI 58 Microorganisms

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
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EPI 57 Precipitation

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
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EPI 53 Normal Action of the Sea

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
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EPI 52 Cold Testing, Hot Testing and Commissioning

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
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EPI 48 Piling

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
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EPI 45 Roads

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
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EPI 44 Pipelines, Conduits and Cables

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
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EPI 24 Leak Search Costs

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
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EPI 12 Partial Operation

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
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Material Change

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
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