Alterations Clause
Notwithstanding anything contained in the printed conditions of the Policy to the contrary, it is noted and agreed that this Insurance shall not be prejudiced in the event of any alterations being made to the property insured whereby the risk of damage is increased, provided that notice of such alteration be given to the Insurer within sixty (60) days of the commencement of such alterations and additional premium paid, if required from the date of such alteration.
Appraisement Value Clause
If the aggregate claim for anyone loss does not exceed 5 (five) per cent of the sum insured by the item or items affected (whichever may be the less) no special inventory or appraisement of the undamaged property shall be required.
If two or more buildings be included in a single item, this provision shall apply to the range of buildings insured by this item.
For the purpose of this clause, the term “item” shall be held to the total sum insured on buildings and/or contents by the items affected.
Architects, Surveyors, and Consulting Engineers Expenses Clause
It is hereby noted and agreed as follows :
1.The Insurance of each item on the Building or Contents includes an amount in respect of Architects’ Surveyor’s Legal and Consulting Engineers Fees not exceeding those provided under the scales of the various institutions and/or bodies regulating such fees prevailing at the time of the destruction or damage and not exceeding 5 % of the individual sums insured.
2.The Insurance on Fees applies only to those necessarily and reasonably incurred in the reinstatement or repair of Property Insured consequent upon its destruction or damage but not for preparing any claim, it being understood that the amount payable under the item shall not exceed in total its sum insured.
Automatic Reinstatement of Loss Clause
In consideration of the Insured undertaking to pay an additional premium at the agreed rate on the amount of loss calculated on a pro-rata basis from the date of such loss to the expiry of the current period of insurance, it is agreed that in the event of loss the insurance hereunder shall automatically maintain in force for the full sum insured stated in the schedule.
Automatic Reinstatement of Sum Insured Clause
In consideration of the Insured undertaking to pay any premium at the agreed rate on the amount of loss on pro-rata basis from the date of such loss to expire of the current period of insurance, it is agreed that in the event of loss the Insurance hereunder shall automatically remain in force for the full sum insured.
Bankers' Clause 2
It Is hereby noted and agreed that the property Insured under this Policy has been pledged with PT. Bank ……………. and until such time as the said Bank shall have notified the Insurer, in the contrary, the Insurer shall advise the said Bank :
I. If the Insured proposed to cancel or give notice of cancellation of any such insurance, at least 30
(thirty) days before such cancellation is to take effects ;
II.Of :
a.Any material alteration, and/or
b.Termination or Expiry
Of any such insurance at least 30 (thirty) days before such alteration, termination or expiry take place
III.Promptly of any default in the payment of any premium or failure to renew any such insurance ;
IV.Of any act or omission or of any event of which the Insurer has knowledge and which they consider might invalidate or render unenforceable in whole or in part any such insurance ;
V.Of any claim under the policy exceeding USD. 10,000.00
It shall be further noted that in the event of loss, if any, payable under this policy, any payment up to the amount to which the said Bank is entitled for principal, interest accrued and costs shall be made to the said Bank without prejudice to the rights of the Insured for the difference and the said Bank shall act in its capacity as a joint-insured subject to the terms conditions and restriction contained in the Policy.
Beneficiary Clause
It is hereby declared and agreed that in the event of the death of the Insured person by accident all compensation due under the within policy shall be payable to :
whose receipt shall be a full and final discharge to the company is of such compensation
Boiler Explosion Clause
“It is hereby expressly understood and agreed that this policy also covers loss or damage to the whole or any part of the property insured (including the boiler) caused by boiler explosion”.
Brand and Label Clause
If branded or labeled merchandise covered by this Policy is damage, and the Insurer elects to take all or any of such merchandise at the agreed or appraised Value, the Insured may, at his own expense, stamp “salvage” on the merchandise or its container or may remove the brands or label, if such stamp or removal of brand or label will not physically damage the merchandise but the Insured shall at its own cost re-label the merchandise or containers in compliance with all of the requirements the applicable law.
Broad, Pair and Set Clause
“It is hereby noted and agreed that, in case of loss destruction or damage to part of a pair or set, the insurer will pay the full amount of the pair or set provided the insured agree to surrender the remaining article or articles of the pair or set to the insurer”.
Burst Of Pipe Endorsement
Notwithstanding of anything in the policy, this insurance shall extend to include loss or damages to the property insured caused by bursting or overflowing of watertanks apparatus or pipes.
Capital Addition Clause
The insurance hereby extends to cover alterations, additions and improvements (but not appreciation in value) in excess of the sums insured to property specified in the Policy for an amount not exceeding 10 % of the sums insured thereby or an amount specified in the policy whichever is the less, it being understood that the Insured undertakes to advise the Insurer each quarter of such alterations, additions and improvements and to pay the appropriate additional premium thereon.
Civil Authorities Clause
The insurance is extended to cover direct loss or damage to the described property caused by acts of destruction executed by order of any Public Authority at the time of and only during a conflagration to retard the spread thereof, and subject to all other terms and conditions of this Policy. This Insurer shall not be liable, however, for more than the amount for which it would have been liable had the loss been caused by the peril insured against under this Policy.
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 labor 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.
Contract Price Clause
In the event of goods insured by this Policy having been sold but not delivered for which the Insured is responsible and under the conditions of sales, the contract is cancelled by reason of non-delivery of such goods destroyed or damaged by fire or by any other perils insured hereby, the liability of the company in respect of such goods shall be based on the Contract Price.
Cost of Re-erection Clause
The insurance by this Policy extends to cover the cost of re-erecting, fitting and fixing machinery or plant destroyed or damaged by any perils hereby insured against providing always that the liability of the Insurer shall not exceed the sum insured of such mabhinery or plant under the Policy.
Cost of Re-writing Records and Claim Preparation
On costs and expenses necessarily and reasonably incurred by the insured following loss or damage to the property insured.
I. to reconstruct and recompile records (but not for the value to the insured of the insured information contained therein)
II. to extract and compile information required by the Company from the insured’s own records for the purpose of preparing a claim under the Policy but excluding legal, investigation fees/expenses incurred for the purpose of contesting any issue over the Company’s Liability under the Policy.
Provided always that no amount shall be recoverable under this endorsement if subsequent to the incurrence of any expenses, the Company shall deny liability for any claim in respect of which the expenses have been incurred (with or without the consent of the Company)
Cost of Re-writing Records and Claim Preparation 2
On costs and expenses necessarily and reasonably incurred by the insured following loss or damage to the property insured.
I. to reconstruct and recompile records (but not for the value to the insured of the insured information contained therein)
II. to extract and compile information required by the Company from the insured’s own records for the purpose of preparing a claim under the Policy but excluding legal, investigation fees/expenses incurred for the purpose of contesting any issue over the Company’s Liability under the Policy.
Cyber Non-aggregation clause
Losses arising, directly or indirectly, out of :
(I) loss or, alteration of, or damage to :
or
(ii) a reduction in the functionality, availability or operation of a computer system, hardware, programme, software, data, information repository, microchip integrated circuit or similar device in computer equipment or non-computer equipment, whether the property of the policy of the policy holder of the reinsured or not, do not in and of themselves constitute an event unless arising out of one or more of the following perils :
fire, ligthning, explosion, aircraft or vehicle, falling objects, windstorm, hail, tornado, cyclone, hurricane, earthquake, volcano, tsunami, flood, freeze or weight of snow.
Defunct Spares
“It is noted and agreed that in the event of spares currently insured hereunder and represented within the total sum insured under the policy becoming obsolete following an indemnifiable loss to the unit and/or units to which they belong, such spares shall also be deemed a construction total loss. Provided always that such spares can not be used as spares for any other units within the premises of the insured. Insurers retain salvage rights over such spares”
Designation Clause
For the purpose of determining, where necessary, the definition of any property insured hereby the Insurer agree to accept the designation under which such property has been entered in the Insured’s book.
Electrical short circuit clause
It is hereby expressly understood and agreed that this policy also covers loss or damaged as consequence of electrical short circuit
Employee Personal Effects Clause
The indemnity granted by this Policy extends to include clothing and/or personal effects of the employees of the Insured for an amount not exceeding Rp. 2.500.000,- in respect of any one employee and for an amount not exceeding in the aggregate Rp.100.000.000,-
EXTENDED TO COVER WHILE THE GOODS IS BEING TRANSPORTED BY ANY KIND OF CARRIER BUT NOT LIMITED TO MARINE AND/OR LAND TRANSIT WITH ALL RISK COVER INCLUDING HIJACKING.
"It is hereby agreed and noted that this policy extended to cover while the goods is being transported by any kind of carrier but not limited to Marine and/or land transit with all risk cover including hijacking"
First Loss Under Insurance Clause
The Insurance by this policy is arranged on the basis of first loss up to an amount stated in the Schedule of this policy.It is agreed that the Average Condition of this Policy is hereby deleted.
Floor, Space, Ratio Index Clause
“Subject to the terms and conditions of this policy in the event of any building 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 Departments Local Government or any other Statutory Authorities reinstatement of such building as before is prohibited and reinstatement is only permissible subject to a reduced floor, space ration index.
The Insurers agree to pay in addition to any amount payable on reinstatement of such building the difference between:
a. the actual cost of reinstatement incurred in accordance with the reduced floor, space ratio index and
b. the cost of reinstatement which would have been incurred had a reduced floor space ratio index not been applied.
In arriving at the amount payable under (a) and (b) above any payments made by the Insurers shall include the extra cost of reinstatement including demolition or dismantling of the property Insured necessarily incurred to comply with the requirements of any act of Parliament or Regulation made thereunder or any Bye-law or Regulation of any Municipal or other Statutory Authority”
Internal Fire Endorsement
It is agreed and understood that othewise subject to the terms, exclusions, provisions and conditions contained in the policy or endorsed thereon, and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to cover loss or damage due to fire or checmical explosion having originated within items(s)
No(s)
contained in the specification of the Policy
or due to the extinguishing of such fire or to direct lightning.
Internal Removal Clause
It is understood and agreed that in the event of removal of property from one building to another at any of the situations covered by this Policy being inadvertently not advised to the Insurer, the insurance on such property shall follow removal, the necessary adjustments in sum insured and premium being made as from the date of removal as soon as the oversight is discovered. Provided however that the liability of the Insurer shall not exceed the Sum Insured hereunder.
Leased Property Clause
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 mortgage, Leasing, Hiring or Renting Agreement, provided such property is not more specifically insured.
Lender's Interest CLause
It is hereby noted and agreed that the property Insured under this Policy has been pledged with “………….” and until such time as the said Bank shall have notified the Insurer, in the contrary, the Insurer/the Underwriters shall advice the said Bank :
a. If they propose to cancel or give notice of cancellation of any such insurance, at least 30 days before such cancellation is to take effects
b. of :
(a) any material alteration and/or
(b) termination of expiry of any such insurance at least 30 days before such alteration, termination, of expiry
c. Promptly of any default in the payment of any premium or failure to renew any such insurance
d. Of any act or omission or of any event of which the Insurer has knowledge and which they consider might invalidate or render unenforceable in whole or in part of any such insurance.
e. Of any claim under the Policy exceeding US$. 10,000.00
It shall be further noted that in the event of loss, if any, payable under this Policy, any payment up to the amount to which the said bank is entitled for principal, interest accrued and costs shall be made to the said Bank without prejudice to the rights of the Insured for the difference and the said Bank shall act in its capacity as joint insured subject to the terms, conditions and restrictions contained in the policy.
Loss of Damaged Goods Clause
In case of damage to property bearing brands labels and trademarks the sale of which carries in any way a guarantee of the Insured, the salvage value of such damaged property shall be determined after the removal in the customary manner of all brands labels and trade marks which might be taken to indicate that the guarantee of the manufacturer or the Insured attached to said property. However notwithstanding anything to the contrary elsewhere herein, it is understood and agreed that in case of damage to goods insured under this Policy due to peril insured against, the Insured or their representatives are to retain control of all damaged goods. The Insured, however agrees wherever practicable to use recondition or sell such goods, the sale being made after removal of all brands labels or trademarks, with the Insurer being entitled to the proceeds of the sale. Where the use or disposal or sale of damage goods would be in the opinion of the Insured or their representative detrimental to their interest such damage shall be treated as a constructive total loss and the Insured shall destroy the damaged goods in the presence of a representative of the Insurer and the Insured.
Lubrication Oil & Refrigerant Clause
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, and subject to the Insured having paid the agreed extra premium, the Insurers shall indemnify the Insured for loss of lubricating oil or refrigerant in the insured machineries contained in the specification of the Policy,
caused by an indemnifiable accident to the above items, subject to
- a separate sum insured being provided in the specification of the Policy for the lubricating oil or the refrigerant
- a deduction of proper depreciation according to the average life expectancy indicated by the manufacturer or otherwise to be determined at the time of the loss
Minor Alterations and Repairs Clause
Minor alterations, additions and repairs to building plant fixtures and fitting, and machinery and minor works in progress are allowed and the insurance by this Policy shall not be prejudiced by this.
Misdescription Clause
It is understood that this insurance shall not be prejudiced by any alteration or mis-description of occupancy provided the Insured shall notify the company immediately they become aware of the same and to pay additional premium if required from the date of the inception of the increased hazard.
Money & Jewellry in safe Endorsement
Notwithstanding of anything contained in the policy to the contrary, this policy is extended to cover Money, Antique and Jewellery in safe.
Money in the premises Extension Cover
Money of the Insured or for which the Insured has assumed or wishes to assume responsibility in expectation of insurable interest is defined as :Cash Bank and Currency Note, Postal Orders and Money Cheques, Giro Cheques, Travellers Cheques, Postage Stamps VAT Purchase Invoice.
New Location Clause
Whereby the Insured having trade in another location not yt declared under the Policy, the Insurer hereby noted and agreed to hold cover such location for 30 days (Subject to additional premium) with limit IDR. _________ any one location with the same terms and conditions of the respective policy.
No Control Clause
“This insurance shall not be affected by failure of the Insured to comply with the provisions of this Policy in any portion of the property over which the Insured has no control”.
Outbuilding Clause
The Insurance by each item under buildings is understood to include walls, gates and fences, small outside buildings, extension, annexes, exterior staircase, fuel installations, steel or iron framework and tanks in the said premises and the insurance by each item under contents extends to contents of each outbuilding, provided their values are included in the sum insured.
Plan and Documents Clause
Notwithstanding anything herein contained to the contrary the insurance hereby is extended to indemnify the insured against costs and expenses necessarily and reasonably incurred to reproduce such plans, documents and records including all the information therein destroyed or damaged as a result of a peril insured hereunder whatever or whenever such loss, destruction or damage shall occur.
Public Authoriries Clause
The Insurance by this Policy extends to include such additional cost of reinstatement of the destroyed or damage property thereby insured as may be incurred solely by reason of the necessity to comply with building or other Regulations under or framed in pursuance of any Government Act or Bye-Law of any Municipal or Local Authority provided that :
1. The amount recoverable under this Extension shall not include :
a. the cost incurred in complying with any of the aforesaid Regulations or Bye- Laws
i. in respect of destruction or damage occurring prior to the granting of this Extension
ii. in respect of destruction or damage not insured by the Policy
iii. under which notice has been served upon the Insured prior to the happening of the destruction or damage.
iv. in respect of undamaged property or undamaged portions of property.
b. the additional cost that would have been required to make good the property damaged or
destroyed to a condition equal to its condition when new had the necessity to comply with any of the aforesaid Regulations or Bye-Laws not arisen.
c. the amount of any rate, tax, duty, development or other charge or assessment arising out of
capital appreciation which may be payable in respect of the property or by the owner thereof by reason of compliance with any of the aforesaid Regulations or Bye-Laws.
2. The work or reinstatement must be commenced and carried out with reasonable dispatch and
in any case must be completed within twelve months after the destruction or damage or within
such further time as the Company may (during the said twelve months) in writing allow and
may be carried out wholly or partially upon another site (if the aforesaid regulations or Bye-Laws so necessitate) subject to the liability of the Insurer under this Extension not being thereby increased.
3. If the liability of the Insurer under (any item of) the Policy apart from this Extension shall be
reduced by the application of any of the terms and conditions of the Policy then the liability of the Insurer under this Extension (in respect of any such item) shall be reduced in like proportion.
4. The total amount recoverable under any item of the Policy shall not exceed the sum insured thereby.
5. All the conditions of the Policy except insofar as they may be hereby expressly varied shall
apply as if they had been incorporated herein.
Public Utilities Clause
Any loss as insured by this policy resulting from interruption of or interference with the Business in consequence of loss destruction or damage at the undernoted situations or to property as undernoted shall be deemed to be an incident. Property at any
a. Generating station or sub-station of the public electricity supply undertaking
b. Land based premises of the public gas supply undertaking or of any natural gas producer linked directly therewith
c. Water works or pumping station of the public water supply undertaking
d. Land based premises of the public telecommunications undertaking
e. from which the Insured obtains (electricity) (gas) (water) or (telecommunications services) all in Indonesia
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 affected by the perils insured hereunder, and also to cover during the terms 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 hereunder or to maintain if safe from the perils of the occurrence”
Rent Clause (Loss of Rent)
“It is hereby declared and agreed that in the event of the said premises or any part thereof becoming untenantable as result of its destruction or damage by fire or any other perils hereby insured against, the company will, subject to the conditions hereinafter contained, indemnify the insured for loss or rent in accordance with the lease or agreement existing at the tie of such destruction or damage. The company shall only be answerable for rent for such period as the premises (or proportionately in the case of any part thereof) may be actually untenantable, due diligence being used in the repair or
reconstruction of the same, but if any case the repair or reconstruction of the said premises be not fortwith commenced, the loss of rent shall be determined by the time which would have sufficed for the purpose had due deligence been used, but in no case exceeding 12 (twelve) months rent.
In case the rent of the premises for the period specified shall exceed the sum hereby insured, the amount payable shall be in the proportion which the sum insured bears to such rent.
If the whole of any part of the premises be occupied by the insured, the rent thereof shall be assessed at a reasonable market value. And it is further stipulated that should any of the standing charges incurred for maintaining the premises in a tenantable condition (such as wages of caretaker or liftmen, cost of power, lighting and the like), ceased or be reduced in consequence of fire of any other peril hereby insured against, then the amount payable shall be reduced accordingly”
Replacement Clause
“In the event of loss or damage to ay parts or parts of an insured machine or equipment caused by a peril covered by a peril covered by the policy the sum recoverable shall not exceed the cost of replacement or repair of such part or parts plus charges for forwarding and refitting, if incurred, but not excluding duty unless the full duty is included in the amount insured, in which case loss if any, sustained by payment of additional duty shall also be recoverable. Provided always that in no case shall the liability of underwriters exceed the insured value of the complete machine or equipment.”
Selling Price Clause
It is noted and agreed that in respect of goods sold but not yet delivered for which the Insured is responsible and with regard to which under the written or printed conditions of sale the Sale Contract is cancelled by reason of the loss or damage indemnified by this Policy either wholly or to the extent of the loss or damage, the liability of the Insurer shall be based on the contract price, and for the purpose of average the value of all goods, to which this clause would in the event of loss or damage be applicable shall be ascertained on the same basis.
Services Clause
The Insurance by this policy relating to ‘machinery’ and ‘equipment’ extends to include telephone, gas, water and electric instruments, maters, piping, cabling and the like and accessories thereof including similar property in adjoining yards or roadways or underground all the property of the insured or of suppliers or others for which the insured are responsible.
Seventy Two Hours Clause
It is agreed that any loss or damage to the Insured Property arising during any one period of seventy two (72) consecutive hours, caused by windstorm tempest flood or earthquake shall be deemed as a single event and therefore to constitute one occurrence with regard to the Deductibles provided for herein, for the purposes of the foregoing the commencement of any such seventy two (72) hours period shall be decided at the discretion of the Insured it being understood and agreed, however, that there shall be no overlapping in any two or more such seventy two (72) hours period in the event of damage occurring over a more extended period of time.
Vehicle Impact Clause
It is hereby declared and agreed that by deleting the word “vehicle impact” in CHAPTER II-EXCEPTION item 1.3.2. of this Policy, the Insurance hereunder is extended to cover :
4.11.1 VEHICLE IMPACT, which for the purpose of this Endorsement shall mean :
Damage to the property insured directly resulting from actual physical contact of a vehicle with the property insured hereunder or with the building containing such property.
Provided that the Insurer shall not be liable for any damage caused :
i) By any vehicle owned or operated by the Insured or by any tenant of the insured premises
ii) To fences, driveways, walk ways or lawns
iii) To any other vehicle including its contents, other than stock of vehicles in process of manufacture or for sale
For the purpose of this Endorsement, “vehicle” shall mean any Vehicle running or land or tracks but not aircraft. It is further agreed that for each and every loss recoverable hereunder, the Insured shall bear Rp. 1.000.000,00 (One Million Rupiahs).
4.11.2 INDUSTRIAL SMOKE, which for the purpose of this Endorsement shall mean :
Loss or damage to the property insured resulting from smoke due to a sudden, unusual and faulty operation of any heating or cooking units connected to a chimney by a smoke pipe or by a vent pipe, which is in or on the Insured premises excluding, however, smoke from fireplaces or industrial apparatus.(This wording is a translation of the original version in Bahasa Indonesia, in the event of any dispute arising from the interpretation of any meaning herein, the terms and conditions shall be interpreted according to the original Bahasa Indonesia Version)
Special Electrical Short Circuit Coverage Clause
It is hereby expressly understood and agreed that in consideration of the payment of an additional premium as arranged, this policy also covers loss or damage to any generator, motor, transformers, and/or any other electrical machine and/or electrical installation cause by short circuit and self heating.
Spoilage Cover Extension
It is hereby noted and agreed tha in the event of a recoverable loss under this policy, the liability shall extend to include any loss or damage to the stock in process subject to the terms and conditions of the policy.
Sprinkler Leakage Clause
It is hereby agreed and declared that the insurance under the policy shall extend to cover loss or damage to the property insured caused by water accidentally discharged or leaking from the Automatic Sprinkler Installation subject to First Loss Sum Insured and subject to a deductible of any one location and further subject to all the usual conditions of the policy and the following special conditions :
1.The liability if the company shall in no case under this endorsement and the policy exceed the sum insured by each item of the policy.
2.Further provided that such discharge or leakage of water shall not be occasioned by or happen trough :
A.Repairs or alteration to the buildings or premises
B.The automatic sprinkler installation being either repaired, removed or extended.
C.The order of the Government or of any municipal local or other competent Authority
D.Defects in construction or condition of which the insured is aware.
E. Condensation or deposits on the Automatic Sprinkler Installation.
Structural Alterations Clause
It is hereby noted and agreed, that the structural alteration and extension of the buildings mentioned in this Policy is allowed, as are the erection of new building, installation, reinstallation, replacement of machines, tools, implements, piping or other installation and objects as well as to move all these within the premises.
In case of removal or demolition of an insured object this insurance will cover the new items substituting the removed or demolished objects up to the original amount insured.
Suppliers and Customers Extension Clause
Subject to the terms, conditions and exclusions of the policy, loss resulting from interruption of or interference with the Business in consequence of Damage to :
a. property of suppliers, manufactures or processors of components, goods, materials, suppliers of service or other facilities and their suppliers.
b. Property of customers
c. Property whilst in transit by road, rail or inland waterway.
Anywhere in the World is regarded as due to the insured Events insured by the Specification shall be deemed to be the loss resulting from Damage to property of the Insured.
Temporary Removal Clause
It is hereby agreed that the property insured by this Policy (other than any stock in trade or merchandise) is covered in respect of the perils hereby insured against whilst temporarily removed for cleaning, renovation, repair or other similar purposes, elsewhere on the same premises or any other premises in the Republic of Indonesia and in transit thereto and therefrom by road.
Provided always that:
1. The amount recoverable under this Extension in respect of each item of this Policy shall not exceed the amount which would have been recoverable …the loss occurred in that part of the premises from which the property temporarily removed nor, in respect of any loss occuring elsewhere than …the said premises, 10% of the sum insured by this Policy after deductible therefrom the value of any building (exclusive of fixtures and fittings) stock in trade or merchandise hereby
insured.
2. This extension does not apply to property if and so far as it is otherwise insured.
3. As regards losses occuring elsewhere than at the premises from which the property is temporarily removed to:
a. motor vehicles and motor chassis licensed for normal road use
b. property held by the Insured in trust, other than machinery and plant
This clause is subject otherwise to all the terms and conditions of the Policy to which it is attached.
Tenants Improvement Clause
The insurance by this Policy extends to include tenants improvements and alteration to Landlord’s property insofar as the Insured is responsible therefore.
Theft Extension Memo
It is hereby noted and agreed that in consideration of the Insured having paid an additional premium, this policy shall be extended to cover loss and/or damage to the insured property caused by Theft without any visible violent or forcible entry to the insured premises, provided always that this endorsement shall be deemed to exclude property stored in the open air.
30 Days Cancellation Notice Clause
Both the Insurer and the Insured are entitled to terminate this insurance upon thirty (30) days notice in writing being given. Such termination should be effected to the registered letter and the Insured entitle to a pro-rata return premium for the unexpired period of Insurance.
Unlicensed Vehicle Clause
It is hereby understood and agreed that this policy extends to indemnify the Insured for claims in respect of bodily injury or damages to the property arising out of the use of vehicles (not licensed for public road) in and around the premises for the purpose of property maintenance and repair.
Vehicle Load Clause
In the event of the Insured’s Property being left loaded in Vehicles or freight containers overnight while in, on or about the premises hereby insured the Insurer will indemnify the Insured for the loss of or damage to such Property caused by fire or any other peril insured hereby, provided always that the Insurer’s Liability shall not exceed the sum insured of Property under the Policy.
polis-standar-gempa-bumi-indonesia.
