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 at the Premises.

The liability of the Insurer(s) under this memorandum, in respect of any one loss or series of losses arising out of any one event or occurrence at any one premises, shall be limited to twenty per cent (20%) of the total values of Gross Profit and Pay-roll declared as at the day of commencement of the period of insurance. For the purposes of this endorsement, the term “premises of a producer” refers to premises, other than those described in the Public Utilities Extension to Section B of the Policy, at which any of the goods or services used by the Insured are produced, assembled or stored.

The term “premises of a merchant” refers to premises to which the Insured provides goods or services.

About the Author

has written 1807 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

*

Copyright © 2020 ahliasuransi.com. All rights reserved. Managed by Imam MUSJAB
Powered by WordPress.org, Custom Theme and ComFi.com Calling Card Company.