This Endorsement is attached to and forms an integral part of :Policy Number. :Insured’s Name :It is hereby agreed and declared that: a) This Policy to the contrary and subject to payment of additional premium, the Insurer agrees to extend this insurance as provided in this Endorsement;b) notwithstanding anything which may be defined in any laws or regulations...
Sabtu, Agustus 31, 2013
RIOTS, STRIKES, MALICIOUS DAMAGE AND CIVIL COMMOTIONS ENDORSEMENT (Code : 4.1B / 2007)
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RIGHT OF RESOURCES CLAUSE
It is noted and agreed that in the event of claim arised, the Insured has right to utilize materials for the purpose of continuity production; subject to claim has been reported to Insur...
REPLACEMENT WITH SMALLER AND/OR CHEAPER PROPERTY
Notwithstanding the provisions of Clause 4.3, Basis of Settlement Clause 4.4.4 is extended to include the following paragraph.If any lost or destroyed Property Insured is replaced by smaller and/or cheaper property, then the Insurer shall pay to the Insured, in addition to the cost of such smaller and/or cheaper property, the difference between the cost of reinstatement of the lost or destroyed Property Insured that would have...
RETURN OF PREMIUM CLAUSE
In the event of the gross profit earned (or a proportionately increase multiple thereof when the maximum indemnity period exceeds twelve months) during the accounting period of twelve months most nearly concurrent with any period of insurance, as certified by the Insured's auditors, being less than the sum insured thereon a pro rata return of premium not exceeding 50 percent of the premium paid on such sum insured for such period...
REPLACEMENT VALUE CLAUSE.
It is hereby declared and agreed that in the event of the property insured of the within policy being destroyed or damaged the basis upon which the amount payable under this policy is to be calculated shall be the cost of replacing with property of the same kind or type but not superior to or more extensive than the insured property subject to the following special provisions and subject also to the terms and conditions...
REPLACEMENT WITH DIFFERENT PROPERTY
Notwithstanding the provisions of Basis of Settlement Clauses, if the Insured elects to reinstate destroyed Property Insured with dissimilar property whether or not to be used for a similar purpose as the destroyed Property Insured, the Insurer shall pay the lesser of :the cost of the dissimilar property, oran amount equal to the replacement cost which would have been payable if the destroyed Property Insured had been reinstated...
REPLACEMENT COST CLAUSE
It is understood that in the event of loss or damage settlement shall be based upon the cost of repairing, replacing, or reinstating (whichever is the less) with material of like kind and quality without deduction for depreciation, subject to the following provisions:(a) The repairs, replacement or reinstatement (all herein after to as “replacement” must be executed with due diligence and dispatch).(b) ...
REPLACEMENT FIRE PROTECTION EQUIPMENT (following Fire Loss)
The insured by this Policy extends to cover loss of or damage to the fire extinguishing appliances caused by the Insured perils. This extension is deemed to include the cost reasonably incurred of refilling the fire extinguishing appliances providing always that such cost is incurred as a direct result of the use of the fire extinguishing appliances for the extinguishment of fire endangering the safety of the Insured property....
RENT CLAUSE
It is hereby noted and agreed that in the event that the rented building cannot be occupied or used for at least 72 hours due to damage or destruction following a fire or other peril insured against, subject to the following provisions, the Company will indemnify the insured for the rent already paid to the landlord for the rental period that has not elapsed from the time that the building cannot reasonably be occupied or used.The...
REPAIR CLAUSE
This policy is held to indemnify loss or damage caused by fault or work or lack of skill during the work of repair and cleaning to the subject matter of the insura...
REMOVAL PERMISSION CLAUSE
It is hereby understood and agreed that this policy extends to cover loss and/or damage to property insured hereunder when such property is moved from locations or premises affected by the perils insured hereunder.It is further agreed that the policy extends to cover such property in any other place to which the insured property has been moved in order to preserve it from the perils insured hereunder....
REMOVAL PERMIT CLAUSE
It is hereby understood and agreed that this policy shall be extended to cover against all direct loss and/or damage caused by the removing of property hereunder insured, from locations or premises effected by the perils insured hereunder, and also to cover during the term of ten (10) days, such property in any other place where it should be necessary to move the insured property in order to preserve it from the perils insured...
REMOVAL DEBRIS
The insurance under this Section includes in addition to the Sum Insured stated in the Schedule all costs and expenses necessarily incurred by the Insured for :a. Removing the debris of (including silt and mud and the like) and the disposal of suchb. Dismantling or demolishingc. Shoring up or proppingd. DewateringAny property insured which is or could be imminently...
REMOVAL OF DEBRIS CLAUSE (first loss limit of US$. XX,000.-)
In consideration of the payment of an additional premium this policy extends to indemnify the Insured in respect of:The cost of removal of debris, demolition and any temporary repairs necessary (including the Insured's legal liability for the cost of removal of debris, demolition, and temporary repairs in regard to adjoining premises, roadways or waterways, as well as on the site) consequent upon the destruction of or damage to...
REMOVAL OF DEBRIS CLAUSE (10% of TSI and within the Sum Insured)
On first loss basis(a) The insurance under this heading is not subject to the Average Clause:In consideration of the payment of an additional premium this policy extends to indemnify the Insured in respect of :The cost of removal of debris, demolition and any temporary repairs necessary (including the Insured's legal liability for the cost of removal of debris, demolition, and temporary repairs in regard to adjoining...
REMOVAL OF DEBRIS CLAUSE (LIMIT Rp. XXX.000.000,-)
On the Cost and Expenses necessarily incurred by the Insured in the removal of debris dismantling or demolishing shoring up or propping of the portion or portions of the property insured by this Policy destroyed or damage by fire or by any other peril hereby insured.The liability of the Company under this clause and the Policy in respect of any item shall in no case exceed the sum insured there...
REMOVAL OF DEBRIS CLAUSE
On the Cost and Expenses necessarily incurred by the Insured in the removal of debris dismantling or demolishing shoring up or propping of the portion or portions of the property insured by this Policy destroyed or damage by fire or by any other peril hereby insured.The liability of the Company under this clause and the Policy in respect of any item shall in no case exceed 10% (ten percent) of the sum insur...
REINSTATEMENT VALUE CLAUSE
It is hereby declared and agreed that in the event of the property insured being destroyed the basis upon which the amount payable under ………………………….. of the Policy is to be calculated shall be the cost of replacing or reinstating on the same site property of the same kind or type but not superior to or more extensive than the insured property when new, subject to the following Special provisions and subject also to the terms and...
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