Escalation Clause
If during the currency of the Policy, The Insured effect additions and/or alterations to the contract works, it is herby declared and agreed that the sums insured by the respective items of this Policy shall be held to be automatically increased by the such additions and/or alterations is held covered up to an amount not exceeding ….% of Total Contract Value.
PROPERTY
Professional Accountants Clause
Professional Accountants Clause
Any particulars or details contained in the Insured’s books of account or other business books or documents which may be required by the Company under condition …………….. of 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 be prima facie evidence of the particulars and details to which such report relates.
Claim Co-Operation Clause
Claim Co-Operation Clause
Notwithstanding anything contained herein to the contrary, under this policy:
- The Re-Insured shall, upon knowledge of any loss(es) or occurrence(s) which may give rise to a claim recoverable hereunder, advise the Re-Insurers thereof as soon as practicable – but in any case no later than 14 days after such loss or occurrence.
- The Re-Insured shall furnish the Re-Insurers with all information available respecting such loss(es) or occurrence(s).
- The Re-Insured shall co-operate with the Re-Insurers in the appointment of Adjusters, Assessors, Surveyors or other Experts and in all negotiations, adjustments and settlements.
It is understood and agreed that all Adjusters, Assessors, Surveyors, or Experts appointed in accordance with the provisions of this clause shall be deemed to be acting on behalf of the Re-Insured and All Re-Insurers and that the fees, expenses, costs and all other disbursements occurred in this connection shall be shared pro-rata by all interested parties.
Burst Pipe Endorsement
Burst Pipe Endorsement
The Insurance under the Policy shall extend to include: Loss or damage to the property insured directly caused by Bursting or Overflowing of Water Tanks, Apparatus or Pipes.
Professional Fees Clause
Professional Fees Clause
The insurance by this Section includes in additional an amount in respect of Architects, and Consulting Engineer’s fees or other professional fees necessarily incurred by the insured in the reinstatement of the insured property consequence upon its loss destruction or damage but not for repairing any claim.
Provided that the amount payable for such fees shall not exceed those authorized under the scale of the Royal Institute of British Architects or the Association of Consulting Engineers or of the equivalent local body as the case may be.
Limit Indemnity : IDR ……….
Departmental Clause
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 the item on Gross Profit shall apply separately to each department affected by the incident (expect that if the sum insured by the said item be less than the aggregate of the sums produced by applying the Rate of Gross Profit for each department of the Business (whether affected by the incident or not) to its relative Annual Turnover (or to a proportionately increased multiple thereof where the Maxim Indemnity Period exceeds twelve months) the amount payable shall be proportionately reduced).
Note: For insurances on the declaration-linked basis the words in square brackets should be omitted.
Extra Expenses Clause
- Subject to all its terms and conditions, this Policy also covers the necessary Extra Expense incurred by the Insured in order to continue as nearly as practicable the normal conduct of the Insured’s business following damage to or destruction of the property insured, or of property rented to or used by the Insured (other than property excluded), by perils insured. The Insurers shall be liable for the extra expense so incurred for not exceeding such length of time, herein referred to as the period of restoration commencing with the date of the loss and not limited by the date of expiration of this policy, as shall be required with the exercise of due diligence and dispatch to repair, rebuild or replace such property.
- The term “Extra Expense” wherever used in this Schedule is defined as the excess (if any) of the total cost during the period of restoration chargeable to the conduct of the Insured’s business, over and above the total cost that would normally have been incurred to conduct the business during the same period had no damage or destruction occurred, the cost in each case to include expense of using other property or facilities of other concerns or other necessary expenses.
In no event, however, shall Insurers also be liable under this extra expense section for Loss of Income, nor for the cost of repairing or replacing any property that has been damaged or destroyed, except cost in excess of the normal cost of such repair or replacements necessarily incurred for the purpose of reducing the total amount of extra expenses.
- Any salvage of property obtained for temporary use during the period of restoration which remains after resumption of operations shall be taken into consideration in the adjustment of any loss hereunder.
Computer Records Clause
Computer Records Clause
This insurance includes cover for computer system records but only for the value of the materials together with the cost of clerical labour and computer time expended in reproducing such records (excluding any expenses in connection with the production of information to be recorded therein) and not for the value to the Insured of the information contained therein for an amount not exceeding in the aggregate IDR ……….
Klausul Data Komputer
Pertanggungan ini mencakup jaminan atas sistem data komputer tetapi hanya untuk nilai bahan-bahannya saja termasuk biaya pegawai dan waktu yang diperlukan untuk mengerjakannya kembali pada komputer (tidak termasuk biaya-biaya yang berkaitan dengan memproduksi informasi untuk disimpan dalam komputer tersebut) dan bukan didasarkan pada nilai informasi yang terkandung didalamnya menurut ukuran Tertanggung, yang jumlahnya tidak melebihi IDR ………. secara keseluruhan.
Closure by Public Authorities Clause
Closure by Public Authorities Clause
It is hereby declared and agreed that loss as Insured by this policy resulting from interruption or interference with the Business directly or indirectly arising from closure or evacuation of the whole or part of the premises by order of a competent public authority due to the operation of the cause insured by this policy shall be deemed to be loss resulting from Damage to property used by the Insured at Premises.
Additional Increase in Cost of Working Clause
Additional Increase in Cost of Working Clause
The insurance under this item is limited to such further additional expenditure beyond that recoverable under clause (b) of the Gross Rental Specification as the insured shall necessarily and reasonably incur during the Indemnity Period in consequence of the Incident for the purpose of avoiding or diminishing the reduction in Turnover.
Industries, Seepage, Pollution and Contamination Exclusion Clause (NMA 1685) (Sudden and Accidental)
Industries, Seepage, Pollution and Contamination Exclusion Clause (NMA 1685) (Sudden and Accidental)
This Policy does not apply to liability for:
- personal injury or bodily injury (which term shall include illness death or disease) or loss of, damage to or loss of use of property directly or indirectly caused by seepage, pollution or contamination, provided always that this paragraph (1) shall not apply to liability for personal injury or bodily injury or loss of or physical damage to or destruction of material property, or loss of use of such property damaged or destroyed, where such seepage, pollution or contamination is caused by a sudden, unintended and unexpected happening during the Period of Insurance.
- the cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances unless the seepage, pollution or contamination is caused by a sudden, unintended and unexpected happening during the Period of Insurance.
- fines, penalties, punitive or exemplary damages.
This Clause shall not extend this insurance to cover any liability which would not have been covered under this insurance had this Clause not been attached.
