Workmen are allowed in and about any of the described premises for the purpose of making new erections or alterations, repair, decoration, plant installation, general maintenance and the like without prejudice to the terms and conditions of the Policy.
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Kamis, Oktober 03, 2013
WINDSTORM, TEMPEST, FLOOD AND WATER DAMAGE ENDORSEMENT
In consideration of the payment by the Insured of an additional premium as per schedule hereinafter appearing, it is understood and agreed that notwithstanding anything contained in this Policy to the contrary, this Insurance extends to cover damage and/or destruction to the properties hereby Insured resulting from the action or the direct consequence of :
A. Storm and/or tempest, or direct consequence thereof.
B. Flood, due to water which has overflowed beyond the normal boundaries of river, watercourse, lake of sea.
C. Water, other than water resulting from any of the foregoing casualties, entering into the premises from outside.
Including the cost necessarily incurred in the removal of water and debris from the building.
The indemnity granted by this Endorsement does not, however under any circumstances cover :
1. Stock and/or other movable items stored in the open.
1. Loss or damage arising from erosion, subsidence, landslide, volcanic eruption or other convulsions of nature.
2. Seepage.
3. Loss or damage due to water discharged from sprinklers or drencher installations in the premises.
4. Consequential loss or damage of any kind or description.
5. Loss or damage due to failure of or inadequacy of or other defects in any water pumping apparatus used for the purpose of discharging water from any basement or sump and any water apparatus especially fitted or installed for trade purpose and processes.
Special Condition
1. The Insured shall, under penalty of nullity of the Insurance under this Endorsement, take all reasonable steps to maintain the building, roof, roof guttering, water tanks, pipes, drains and other water apparatus in a good state repair.
2. If the actual value of the property hereby insured at the commencement of any destruction or damage to such property by any perils insured against by this insured thereon then the insured shall be considered as being his own insurer for the difference and shall bear a rateable share of the amount of the loss accordingly. Every item if more than one of the policy shall be separately subject to this condition.
Provided that, it is hereby further expressly agreed and declared, that the liability of the Company shall in the aggregate in no case exceed the sum insured and in respect of each item the sum expressed in the schedule of the Policy.
3. In all respect the insurance under this Endorsement is subject to the policy conditions.
Deductible
It is understood and agreed that of any claim anyone event payable under this cover the Insured shall bear the 10% (ten percent) of Recover Claim Amount.
A. Storm and/or tempest, or direct consequence thereof.
B. Flood, due to water which has overflowed beyond the normal boundaries of river, watercourse, lake of sea.
C. Water, other than water resulting from any of the foregoing casualties, entering into the premises from outside.
Including the cost necessarily incurred in the removal of water and debris from the building.
The indemnity granted by this Endorsement does not, however under any circumstances cover :
1. Stock and/or other movable items stored in the open.
1. Loss or damage arising from erosion, subsidence, landslide, volcanic eruption or other convulsions of nature.
2. Seepage.
3. Loss or damage due to water discharged from sprinklers or drencher installations in the premises.
4. Consequential loss or damage of any kind or description.
5. Loss or damage due to failure of or inadequacy of or other defects in any water pumping apparatus used for the purpose of discharging water from any basement or sump and any water apparatus especially fitted or installed for trade purpose and processes.
Special Condition
1. The Insured shall, under penalty of nullity of the Insurance under this Endorsement, take all reasonable steps to maintain the building, roof, roof guttering, water tanks, pipes, drains and other water apparatus in a good state repair.
2. If the actual value of the property hereby insured at the commencement of any destruction or damage to such property by any perils insured against by this insured thereon then the insured shall be considered as being his own insurer for the difference and shall bear a rateable share of the amount of the loss accordingly. Every item if more than one of the policy shall be separately subject to this condition.
Provided that, it is hereby further expressly agreed and declared, that the liability of the Company shall in the aggregate in no case exceed the sum insured and in respect of each item the sum expressed in the schedule of the Policy.
3. In all respect the insurance under this Endorsement is subject to the policy conditions.
Deductible
It is understood and agreed that of any claim anyone event payable under this cover the Insured shall bear the 10% (ten percent) of Recover Claim Amount.
WAR AND TERRORISM EXCLUSION ENDORSEMENT (NMA 2918)
Notwithstanding any provision to the contrary within this insurance or any endorsement thereto it is agreed that this insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any of the following regardless of any other cause or event contributing concurrently or in any sequence to the loss;
1. War, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions or of or amounting to an uprising, military or usurped power; or
2. any act of terrorism.
For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person of group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or similar purpose including the intention to influence any government and/or to put the public, or any section or the public, in fear.
This endorsement also excluded loss, damage, cost or expense of whatsoever nature direct or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to (1) and/or (2) above.
If the Underwriters allege that by reason of this exclusion, any loss, damage, cost or expense is not covered by this insurance the burden of proving the contrary shall be upon the Assured.
In the event any portion on this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect.
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1. War, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions or of or amounting to an uprising, military or usurped power; or
2. any act of terrorism.
For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person of group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or similar purpose including the intention to influence any government and/or to put the public, or any section or the public, in fear.
This endorsement also excluded loss, damage, cost or expense of whatsoever nature direct or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to (1) and/or (2) above.
If the Underwriters allege that by reason of this exclusion, any loss, damage, cost or expense is not covered by this insurance the burden of proving the contrary shall be upon the Assured.
In the event any portion on this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect.
WAIVER OF SUBROGATION CLAUSE
In the event of claim arising under this Policy it is agreed that Insurer waives all rights, remedies of relief to which it might become intitled by subrogation against Company or Companies where they have interest in or companies having an interest in this project is hereby waived.
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Label:
W Clause
WAIVER OF SUBROGATION CLAUSE
Notwithstanding anything contained in the Policy to the contrary, it is noted and agreed that in the event of the Insurers making payment of any claim to the Insured(s), the Insurers shall not exercise any rights of subrogation against any other Insured(s) hereunder.
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