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Clauses 12 PDF
Clauses 12 PDF
ALL OTHER CONTENTS CLAUSE It is noted and agreed that this Policy extends
to include : a. Money and stamps not otherwise specifically insured for an
amount not exceeding in the aggregate IDR.5,000,000.00 b. Documents,
manuscripts and business books but only for the value of the materials as
stationery, together with the cost of clerical labour expended in writing up,
and not for the value to the insured of the information contained therein and
for an amount not exceeding in the aggregate IDR.5,000,000.00 c. 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.5,000,000.00 d. Patterns, moulds, models, plans and designs, for an
amount not exceeding in the aggregate IDR.5,000,000.00 e. Employees pedal
cycles, clothing, tools and other personal effects for an amount not exceeding
IDR.250,000.00 in respect of any one employee
APPRAISEMENT CLAUSE If the aggregate claim for any one loss does not
exceed... 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 apply to the total sum insured on
buildings and/or contents by the items affected.
APPROVED ADJUSTERS CLAUSE It is hereby agreed and declared that any loss
under the Policy will be assessed by an Assessor to be mutually agreed upon.
Hold Up Clause It is hereby noted and agreed that this policy is extended to
cover loss and or damage to property/ies insured in connection with hold-up,
threat and/or under pressure with gun or with other weapon using bullet
inside the premises. Provided that this clause does not cover: Hold-up act
by the person under control, care and custody of the Insured or any person
related to. The first………………. (amount stated in schedule as deductible)
each and every claim.
Loss Notification exceeding 24 hours.
It is hereby agreed that in the event of the property Insured being lost
destroyed or damaged, the basis upon which the amount payable under this
Policy is to be calculated shall be the cost of replacing or reinstating the
property of the same kind or type but not superior to or more extensive than
the Insured properly when new, subject also to the terms and conditions of
the Policy. ALL OTHER CONTENTS CLAUSE It is noted and agreed that this
Policy extends to include : a. Money and stamps not otherwise specifically
insured for an amount not exceeding in the aggregate IDR.5,000,000.00 b.
Documents, manuscripts and business books but only for the value of the
materials as stationery, together with the cost of clerical labour expended in
writing up, and not for the value to the insured of the information contained
therein and for an amount not exceeding in the aggregate IDR.5,000,000.00
c. 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.5,000,000.00 d. Patterns, moulds, models, plans and designs, for an
amount not exceeding in the aggregate IDR.5,000,000.00 e. Employees pedal
cycles, clothing, tools and other personal effects for an amount not exceeding
IDR.250,000.00 in respect of any one employee ALTERATION AND REPAIRS
CLAUSE Minor alterations, additions and repairs to building plant fixtures and
fittings, and machinery (exclusive of any Sprinkler Installations) and works in
progress allowed and the insurance by this policy is extended to cover on
and/or whilst in such additions. ALTERATIONS AND REPAIRS 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
alterations 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 alterations. 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 alterations 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 alterations
ALTERNATIVE BASIS CLAUSE It is agreed and declared that at the option of
the Insured, the term‘outp ut’ may be substituted for the term‘turnover’ and
for the purpose of their policy,‘output’ shall mean the sale value of goods
manufactured by the insured in the course of the business at the premises,
provided that only one such meaning shall be operative in connection with
any one occurrence involving damage (as within defined)
ACCOUNTANTS CLAUSE It is understood and agreed that any particulars or
details contained in the Insured’s books of accounts or other business books
or documents which may be required by the Company under the condition of
this Policy for the purposes of investigating or verifying any claim hereunder
may be produced and certified by the Insured’s Auditors and their certificate
shall be prima facie evidence of the particulars and details to which such
certificate relates. ACCOUNTANTS/AUDITORS/CLAIMS PREPARATIONS AT
INSURERS EXPENSE CLAUSE Any particulars or details contained in the
insured’s books or account or other Business books or documents which may
by required by insurers under the Claims Conditions of this Policy for the
purpose of investigating of verifying any claim hereunder may be produced
by professional accountant 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. The cost of such preparation shall be
at Insurers expense. ACCUMULATED STOCKS In adjusting any loss account
shall be taken and an equitable allowance made if any shortage in Turnover
due to the damage is postponed by reason of the Turnover being temporily
mantained from accumulated stocks of finished goods. ADDITION AND
DELETION CLAUSE ( 30 DAYS ) It is agreed that all items acquired by the
Insured during the currency of this Policy shall be considered as being
included in the policy from the date of acquisition. It is further agreed that all
items disposed of during the currency of this policy shall be considered as
deleted from the policy following the date of such disposal. Subject to thirty
days notice after such addition and deletion have been made. ADDITIONAL
CLAUSE The insurance hereby extends to cover alterations, additions and
improvements (but not appreciation in value) in excess of the sums insured
for buildings and machinery specified in the Policy for an amount not
exceeding 10% of the sums insured thereby or Rp ….*………., whichever is
the less, it is 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. ADDITIONAL INCREASE IN
COST OF WORKING The wording thereto is amended to read: The insurance
under this item is limited to the additional expenditure, not otherwise
recoverable hereunder, necessarily and reasonably incurred during the
Indemnity period in consequence of the Damage for the purpose of avoiding
or diminishing a reduction in Turnover and/or other operating income and/or
resuming and/or maintaining normal business operations and/or service
and/or minimising the period of interruption of or interference with the
Business. ADDITTIONAL INSURED CLAUSE
The Company hereby that PT.Perusahaan Pelayaran Equinox are included as
additional insured but limited to the liabilities arising out of the operations or
activities that performed by or on the named insured and such liabilities are
not the result of sole negligence of the additional Insured. ADJUSTMENT OF
PREMIUM (a)The Premium shown is provisional and is calculated on the
Declared Values of: i. Property Insured, ii. Gross Profit and Insured Pay-Roll,
on the day of commencement of each Period of Insurance. (b)The Insured
undertakes to declare to the Insurer(s) within a reasonable time after the day
of expiry of the Period of Insurance i. the value of Property Insured on the day
of expiry of the Period of Insurance.For the purpose of this declaration, stock-
in-trade and/or merchandise shall be taken at its average value during the
Period of Insurance; ii. the amount of the Gross Profit earned and Pay-Roll
paid, in accordance with the cover afforded in the respective items of Section
2, in the course of the Business during the accounting period of 12 months
most nearly concurrent with the Period of Insurance. (c)The provisional
premium shall be adjusted by payment to the Insurer(s) of an additional
premium or by allowance to the Insured of a return premium, as the case
may be, calculated at the agreed rate on: i. fifty per cent (50%) of the
difference between property declared in accordance with clauses (a)(i) and
(b)(i); ii. the full agreed rate hereunder on the difference between the
amounts declared under clauses (a)(ii) and (b)(ii). (d) It is agreed to make
allowance for any abnormal fluctuation in values and to charge a premium
commensurate with the risk, such premium to be agreed between the parties
to this agreement. (e)The Declaration of Values at the expiry of the Period of
Insurance declared in accordance with this memorandum shall not be
reduced as the result of loss, destruction or damage in respect of which a
claim has been paid or is payable under this Policy. AGREED VALUE CLAUSE It
is hereby understood and agreed that in consideration of the property
insured being covered on an agreed value basis all reference herein to
replacement shall be deemed to be deleted but only in respect of claim,
adjusted on basis of a total loss. In respect of claims adjusted on the basis of
a total loss, underwriters shall pay to the insured the agreed value of the
property insured as stated in the policy schedule less any applicable
deductible. Underwriters may at their discretion, take the salvage of such
property insured together with appropriate documents appertaining thereto,
but in no event shall there be any abandonment to underwriters. AGREED
VALUE CLAUSE( IN RESPECT OF MOVEABLE ITEMS ANDCOMPUTER
EQUIPMENT )
It is hereby agreed that in the event of the property Insured being lost
destroyed or damaged, the basis upon which the amount payable under this
Policy is to be calculated shall be the cost of replacing or reinstating the
property of the same kind or type but not superior to or more extensive than
the Insured properly when new, subject also to the terms and conditions of
the Policy. ALL OTHER CONTENTS CLAUSE It is noted and agreed that this
Policy extends to include : a. Money and stamps not otherwise specifically
insured for an amount not exceeding in the aggregate IDR.5,000,000.00 b.
Documents, manuscripts and business books but only for the value of the
materials as stationery, together with the cost of clerical labour expended in
writing up, and not for the value to the insured of the information contained
therein and for an amount not exceeding in the aggregate IDR.5,000,000.00
c. 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.5,000,000.00 d. Patterns, moulds, models, plans and designs, for an
amount not exceeding in the aggregate IDR.5,000,000.00 e. Employees pedal
cycles, clothing, tools and other personal effects for an amount not exceeding
IDR.250,000.00 in respect of any one employee ALTERATION AND REPAIRS
CLAUSE Minor alterations, additions and repairs to building plant fixtures and
fittings, and machinery (exclusive of any Sprinkler Installations) and works in
progress allowed and the insurance by this policy is extended to cover on
and/or whilst in such additions. ALTERATIONS AND REPAIRS 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
alterations 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 alterations. 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 alterations 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 alterations
ALTERNATIVE BASIS CLAUSE It is agreed and declared that at the option of
the Insured, the term‘outp ut’ may be substituted for the term‘turnover’ and
for the purpose of their policy,‘output’ shall mean the sale value of goods
manufactured by the insured in the course of the business at the premises,
provided that only one such meaning shall be operative in connection with
any one occurrence involving damage (as within defined)
ACCOUNTANTS CLAUSE It is understood and agreed that any particulars or
details contained in the Insured’s books of accounts or other business books
or documents which may be required by the Company under the condition of
this Policy for the purposes of investigating or verifying any claim hereunder
may be produced and certified by the Insured’s Auditors and their certificate
shall be prima facie evidence of the particulars and details to which such
certificate relates. ACCOUNTANTS/AUDITORS/CLAIMS PREPARATIONS AT
INSURERS EXPENSE CLAUSE Any particulars or details contained in the
insured’s books or account or other Business books or documents which may
by required by insurers under the Claims Conditions of this Policy for the
purpose of investigating of verifying any claim hereunder may be produced
by professional accountant 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. The cost of such preparation shall be
at Insurers expense. ACCUMULATED STOCKS In adjusting any loss account
shall be taken and an equitable allowance made if any shortage in Turnover
due to the damage is postponed by reason of the Turnover being temporily
mantained from accumulated stocks of finished goods. ADDITION AND
DELETION CLAUSE ( 30 DAYS ) It is agreed that all items acquired by the
Insured during the currency of this Policy shall be considered as being
included in the policy from the date of acquisition. It is further agreed that all
items disposed of during the currency of this policy shall be considered as
deleted from the policy following the date of such disposal. Subject to thirty
days notice after such addition and deletion have been made. ADDITIONAL
CLAUSE The insurance hereby extends to cover alterations, additions and
improvements (but not appreciation in value) in excess of the sums insured
for buildings and machinery specified in the Policy for an amount not
exceeding 10% of the sums insured thereby or Rp ….*………., whichever is
the less, it is 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. ADDITIONAL INCREASE IN
COST OF WORKING The wording thereto is amended to read: The insurance
under this item is limited to the additional expenditure, not otherwise
recoverable hereunder, necessarily and reasonably incurred during the
Indemnity period in consequence of the Damage for the purpose of avoiding
or diminishing a reduction in Turnover and/or other operating income and/or
resuming and/or maintaining normal business operations and/or service
and/or minimising the period of interruption of or interference with the
Business. ADDITTIONAL INSURED CLAUSE
The Company hereby that PT.Perusahaan Pelayaran Equinox are included as
additional insured but limited to the liabilities arising out of the operations or
activities that performed by or on the named insured and such liabilities are
not the result of sole negligence of the additional Insured. ADJUSTMENT OF
PREMIUM (a)The Premium shown is provisional and is calculated on the
Declared Values of: i. Property Insured, ii. Gross Profit and Insured Pay-Roll,
on the day of commencement of each Period of Insurance. (b)The Insured
undertakes to declare to the Insurer(s) within a reasonable time after the day
of expiry of the Period of Insurance i. the value of Property Insured on the day
of expiry of the Period of Insurance.For the purpose of this declaration, stock-
in-trade and/or merchandise shall be taken at its average value during the
Period of Insurance; ii. the amount of the Gross Profit earned and Pay-Roll
paid, in accordance with the cover afforded in the respective items of Section
2, in the course of the Business during the accounting period of 12 months
most nearly concurrent with the Period of Insurance. (c)The provisional
premium shall be adjusted by payment to the Insurer(s) of an additional
premium or by allowance to the Insured of a return premium, as the case
may be, calculated at the agreed rate on: i. fifty per cent (50%) of the
difference between property declared in accordance with clauses (a)(i) and
(b)(i); ii. the full agreed rate hereunder on the difference between the
amounts declared under clauses (a)(ii) and (b)(ii). (d) It is agreed to make
allowance for any abnormal fluctuation in values and to charge a premium
commensurate with the risk, such premium to be agreed between the parties
to this agreement. (e)The Declaration of Values at the expiry of the Period of
Insurance declared in accordance with this memorandum shall not be
reduced as the result of loss, destruction or damage in respect of which a
claim has been paid or is payable under this Policy. AGREED VALUE CLAUSE It
is hereby understood and agreed that in consideration of the property
insured being covered on an agreed value basis all reference herein to
replacement shall be deemed to be deleted but only in respect of claim,
adjusted on basis of a total loss. In respect of claims adjusted on the basis of
a total loss, underwriters shall pay to the insured the agreed value of the
property insured as stated in the policy schedule less any applicable
deductible. Underwriters may at their discretion, take the salvage of such
property insured together with appropriate documents appertaining thereto,
but in no event shall there be any abandonment to underwriters. AGREED
VALUE CLAUSE( IN RESPECT OF MOVEABLE ITEMS ANDCOMPUTER
EQUIPMENT )
It is hereby agreed that in the event of the property Insured being lost
destroyed or damaged, the basis upon which the amount payable under this
Policy is to be calculated shall be the cost of replacing or reinstating the
property of the same kind or type but not superior to or more extensive than
the Insured properly when new, subject also to the terms and conditions of
the Policy. ALL OTHER CONTENTS CLAUSE It is noted and agreed that this
Policy extends to include : a. Money and stamps not otherwise specifically
insured for an amount not exceeding in the aggregate IDR.5,000,000.00 b.
Documents, manuscripts and business books but only for the value of the
materials as stationery, together with the cost of clerical labour expended in
writing up, and not for the value to the insured of the information contained
therein and for an amount not exceeding in the aggregate IDR.5,000,000.00
c. 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.5,000,000.00 d. Patterns, moulds, models, plans and designs, for an
amount not exceeding in the aggregate IDR.5,000,000.00 e. Employees pedal
cycles, clothing, tools and other personal effects for an amount not exceeding
IDR.250,000.00 in respect of any one employee ALTERATION AND REPAIRS
CLAUSE Minor alterations, additions and repairs to building plant fixtures and
fittings, and machinery (exclusive of any Sprinkler Installations) and works in
progress allowed and the insurance by this policy is extended to cover on
and/or whilst in such additions. ALTERATIONS AND REPAIRS 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
alterations 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 alterations. 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 alterations 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 alterations
ALTERNATIVE BASIS CLAUSE It is agreed and declared that at the option of
the Insured, the term‘outp ut’ may be substituted for the term‘turnover’ and
for the purpose of their policy,‘output’ shall mean the sale value of goods
manufactured by the insured in the course of the business at the premises,
provided that only one such meaning shall be operative in connection with
any one occurrence involving damage (as within defined)
It is hereby declared and agreed that this Policy is extended to cover the
insured person whilst mounting, riding or dismounting from any motorcycle
except for the purpose of racing pacemaking or speed testing. Mould Clause
(maximum USD 25,000.00) It is hereby noted and agreed that in the event of
loss or damage to the moulds hereby insured, the amount of indemnity in
respect thereof shall be limited to the value of the materials together with
the cost of labour expended in reproducing such moulds (excluding of any
cost of design)
NEW BUSINESS CLAUSE For the purpose of any claim arising from damage
occurring before the completion of the first year’s trading of the business at
the premises, the term “Gross Rental”,”Annual Gross Rental” and “Standard
Gross Rental” shall bear the following meanings and not as within stated.
Gross Rental: The money paid of payable to the Insured by tentants in
respect of rental of the premises. Annual Gross Rental: Proportional
equivalent, for a period of twelve months, of the Gross Rental realized during
the period between the Business and the date of the Incident. Standard Gross
Rental: The proportional equivalent, for a period equal to the Indemnity
Period, of the Gross Rental realized during the period between the
commencement of the Business and the date of the Incident. to which such
adjustments shall be made as may be necessary to provide for the trend of
the Business and for the variations in the business either before or after the
damage or which would have affected the Business had the damage not
occured, so that the figures thus adjusted shall represent as nearly as may be
reasonably practicable the results which but for the damage would have been
obtained during the relative period after the damage.
NEW BUSINESS CLAUSE (FOR GROSS PROFIT) For the purpose of any claim
arising from damage occurring before the completion of the first year’s
trading of the business at the premises, the term “Gross Profit ”,”Annual
Gross Profit” and “Standard Gross Profit” shall bear the following meanings
and not as within stated. Rate of Gross Profit The rate of Gross Profit earned
on the Turnover during the period between the date of the commencement of
the Business and the date of the Incident Annual Turnover The Proportional
equivalent, for a period of twelve months, of the Turnover realised during the
period between the commencement of the Business and the date of the
Incident Standard Turnover The proportional equivalent, for a period equal to
the Indemnity Period, of the Turnover realised during the period between the
commencement of the Business and the date of the Incident to which such
adjustments shall be made as may be necessary to provide for the trend of
the Business and forvariations in or other circumstances affecting the
Business either before or after the Incident or which would have affected the
Business had the Incident not occurred, so that the figures thus adjusted shall
represent as nearly as may be reasonably practicable the results which but
for the Incident would have been obtained during the relative period after the
Incident
NEW BUSINESS CLAUSE For the purpose of any claim arising from damage
occurring before the completion of the first year’s trading of the business at
the premises, the term “Gross Profit ”,”Annual Gross Profit” and “Standard
Gross Profit” shall bear the following meanings and not as within stated. Rate
of Gross Profit The rate of Gross Profit earned on the Turnover during the
period between the date of the commencement of the Business and the date
of the Incident Annual Turnover The Proportional equivalent, for a period of
twelve months, of the Turnover realised during the period between the
commencement of the Business and the date of the Incident Standard
Turnover The proportional equivalent, for a period equal to the Indemnity
Period, of the Turnover realised during the period between the
commencement of the Business and the date of the Incident to which such
adjustments shall be made as may be necessary to provide for the trend of
the Business and forvariations in or other circumstances affecting the
Business either before or after the Incident or which would have affected the
Business had the Incident not occurred, so that the figures thus adjusted shall
represent as nearly as may be reasonably practicable the results which but
for the Incident would have been obtained during the relative period after the
Incident
NEW LOCATION CLAUSE – Subject To 1st Class Construction, Non Pasar Risk
or Public Warehouse It is hereby declared and agreed that the company will
hold cover any new locations acquired by the Insured during the Period of
Insurance subject to the Sum Insured not exceeding of IDR. 100,000,000.00
any one location with max. 5 (five) new locations within the policy period and
subject to review. The Insured shall be declare to the company every
quarterly and an additional premium shall be charged accordingly.
NEW LOCATIONS CLAUSE It is hereby declared and agreed that the Company
will hold cover any new locations acquired by the Insured during the Period of
Insurance subject to: 1.not more than IDR. 500,000,000.-any one location.
2.1st Class Construction 3.Non Pasar Risk 4. Additional Premium The Insured
shall declare to the Company every quarterly and an additional premium
shall be charged accordingly.
SECTION 3 The date change to the year 2000, or any other date change,
including leap year calculations, shall not in and itself be regarded as an
event for the purpose of this Policy.
NOMINATED ADJUSTERS CLAUSE In the event of any claim under the Policy
one of the following adjuster shall be appointed : d.PT. Japenansi Nusantara
e.PT. Satria Dharma Pusaka Crawford f.Any Other Adjuster as mutually
agreed by the Insurers and the Insured.
NON INVALIDATION CLAUSE It is hereby agreed that this insurance shall not
be invalidated by : a. Any change of occupancy or increase of risk taking
place in the property insured without the Insured's knowledge, provided that
they shall, immediately on the same coming to their knowledge, advise the
Insurers and pay any additional premium that may be required from the date
of such increase of risk. b. Workmen on the premises for the purpose of
affecting repairs minor alterations or general maintenance purposes and the
like.
NUCLEAR ENERGY EXCLUSION CLAUSE This agreement shall not apply the
following: (i) Nuclear energy risks in accordance with the Nuclear Energy
Risks Exclusion Clause (Reinsurance) (1994) NMA 1975a (Worldwide
exclusion USA and Canada) (ii) Any other liability, loss, cost of expense of
whatsoever nature directly or indirectly caused by, resulting from, arising out
of or in connection with nuclear reaction, nuclear radiation or radioactive
contamination regardless of any other cause contributing concurrently or in
any other sequence to this loss, save were such liability, loss, cost or expense
arises under insurances or reinsurances expressly exempted from Nuclear
Energy Risk Exclusion Clause (Reinsurance) (1994) NMA 1975a (Worldwide
excluding USA & Canada) in respect of which the Reinsured has specifically
granted cover.
OCCUPIER’S LIABILITY Notwithstanding of anything contained in the policy,
this insurance is extended to cover for loss or damage to the tenants and
guest’s property occurring at the insured premises, controlled by the insured
security to which this policy applies as described in the schedule. Subject to
the term, conditions and exceptions this policy.
OUTSIDE PREMISES STORAGE Where the Insured enters into a contract for
the storage of his goods and/or merchandise at outside premises and the
terms of such storage contain a disclaimer clause then this insurance shall
not be prejudice by the Insured agreeing to such terms.
PARTIAL COMPLETION CLAUSE If the whole or any part of the Contract Works
insured by this Policy is taken over, occupied or put into use by the Principal
or other prior to completion, the Insurers will not be liable for any loss
damage or liability in respect of : a.The occupant or their property b.The
Contract Works c.Third Party or their property Arising from taking over,
occupancy or use of any part of the Contract Works. This endorsement is
subject to the terms and conditions and exclusion of the Policy.
y) days from the inception date of coverage under the Policy, Renewal
Certificate, Endorsement Cover Note. b.when the period of insurance is LESS
than 30 (thirty) days, within the period of insurance specified in the Policy,
Endorsement, Renewal Certificate or Cover Note. (2) In the event any of the
above mentioned premium is not paid in full to and received by the
Company, as described above in the manner and within the time stipulated
above (the premium warranty period), the cover under this Policy, any
Renewal Certificate, Endorsement or Cover Note shall be deemed to have
terminated from the expiry of the premium warranty period and the company
shall be discharged from all liability therefrom but without prejudice to any
liability incurred before that date and the company will be entitled to a pro-
rata time on risk premium subject to a minimum of IDR.50,000.00
PLANS AND DOCUMENTS CLAUSE It is understood and agreed that this Policy
will also indemnify the Insured against the necessarily incurred costs of re-
writing of plans and drawings or other contract document lost destroyed or
damaged as a result of a peril insured hereunder providing such loss
destruction or damage occurs at the Project Site. Such indemnification shall
however be limited to : 1. a maximum amount of IDR 100,000,000.00 each
and every occurrence or series of occurrences arising out of any one event.
2. the cost of labor expended in such re-writing or re-drawing including all
necessary overtime or research.
PREVENTIVE MEASURE CLAUSE Itis agreed that in the event of actual damage
(or imminent damage) to the Insured Property, the Insurer will pay the
reasonably cost necessary in preventing, minimising or reducing damage to
the Insured Property, which the insured can prove were necessarily incurred
immediately and urgently in an emergency.
PROPERTY IN THE OPEN The property insured under this policy is including
property in the open within the premises
PRO-RATA REFUND PREMIUM CLAUSE In the event of the Gross Profit earned
(or a proportionately in creased 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 sum insured for such period of insurance will be made in respect of
the difference. If any damage shall have occurred, giving rise to a claim
under this policy, such return shall be made in respect only of so much of the
said difference as is not due to such damage.
PUBLIC UTILITIES CLAUSE (Time Excess: 7 Days) Any loss as insured by item
no. of this Policy resulting from the interruption of or interference with the
Business in consequence of loss destruction or damage at the under-noted
situations or to property As under-notedbe deemed to be an incident.
Property at any generating station or sub-station of the Public electricity
supply undertaking land based the premises of the Public gas Supply
undertaking of or any natural gas producer linked directly therewith
waterworks or pumping station of the Public water supply undertaking from
the Insured obtains (electricity) (gas) (water) or (telecommunications service)
all in Indonesia.
The insurance under this heading is not subject to the Average Clause. 1.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 any property, insured by
the Insured's Fire Policy (of Policies) occasioned by fire or any other perils
thereby insured against. Provided always − that such cost is not recoverable
under any other Policy of Insurance; − that the indemnity afforded by this
insurance shall not apply to or include liability assumed by the Insured under
agreement entered into after the commencing date of this insurance unless
such liability would have attached to the Insured in the absence of such
agreement. 2. Sum insured : which in no case shall exceed 10 % of the total
sum insured on building(s) and/or contents.
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 peril of the occurrence.
RENT CLAUSE Insurance of Rent (if any) applies if (any of) the said building(s)
or any part hereof is unfit for occupation is consequence of any of the perils
hereby Insured and then the amount payable shall not exceed such
proportion of the sum insured on Rent as the necessary period of
unoccupancy bears to the term of Rent insured under the Policy. Rental Value
(1) Rental Value loss sustained by the Insured resulting from the necessary
untenantability caused by loss, damage, or destruction covered herein during
the term of this Policy to real and personal property not excluded by this
Policy, but not exceeding the reduction in rental value less charges and
expenses which do not necessarily continue. (2) "Rental Value" is defined as
the sum of: a. the total anticipated gross rental income from tenant
occupancy of the described property as furnished and equipped by the
Insured; and
b. the amount of all charges which are the legal obligation of the tenant(s)
and which would otherwise be obligations of the Insured; and c. the fair rental
value of any portion of said property which is occupied by the Insured. (3)
Experience of the Business: a. In determining the amount of rental value
covered hereunder for the purposes of ascertaining the amount of loss
sustained, due consideration shall be given to the rental experience before
the date of damage or destruction and to the probable experience thereafter
had no loss occurred to real and personal property not excluded by this
Policy. b. With respect to alterations, additions, and property while in the
course of construction, erection, installation, or assembly, due consideration
shall be given to the available rental experience of the business after
completion of the construction, erection, installation, or assembly.
RETURN PREMIUM CLAUSE (1/3 PREMIUM) If the insured declares at the latest
six months after the expiry of any of any policy year that the gross profit
earned during the accounting period of twelve months most nearly
concurrent with any period of Insurance, as certified by the Insured’s
auditors, was less than the sum insured thereon, a pro rata return premium
not exceeding one third of premium paid on such sum insured for period of
insurance shall be made in respect of the difference If any loss destruction or
damage has occurred giving rise to a claim under this policy, such return
shall be made in respect only if so much of said difference as is not due to
such loss destruction or damage (this clause does not apply for EQVET)
SALVAGE SALES If following the Damage giving rise to a claim under this
policy the Insured shall hold a salvage sale during the Indemnity Period,
Clause (a) of item 1 of the Specification shall for the purpose of such claim
read as follows: (b) In respect of Reduction in Turnover: The sum produced by
applying the Rate of Gross Profit to the amount by which the Turnover during
the Indemnity Period (less the Turnover for the period of the salvage sale)
shall, in consequence of the Damage, fall short of the Standard Turnover,
from which sum shall be deducted the Gross Profit actually earned during the
period of the salvage sale.
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.
SILENT RISK INSURANCE Warranted that during the currency of this policy the
said factory be silent and that the machinery be not worked, except for the
purpose of keeping it in good order, no material being passed through it and
that no repairs whatever to machinery be carried on and that no material or
goods except spare machinery and/or accessories be stored in the building.
SMOKE AND VEHICLE IMPACT CLAUSE It is hereby declared and agreed that
the insurance hereunder is extended to cover: 4.11.1VEHICLE 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, walkways 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.- (one million Rupiah). 4.11.2INDUSTRIAL 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.
SMOKE ENDORSEMENT The term "SMOKE" shall mean only smoke due to a
sudden, unusual and faulty operation of any heating or cooking unit, only
when such unit is connected to a chimney by a smoke pipe or by a vent pipe,
and while in or the premises described on this policy, excluding, however,
smoke from fireplaces or industrial apparatus. Deductible (Excess) 1% of the
total sum insured in any risk, any one occurrence or Rp.2.000.000,-
whichever is less. This does not apply to the Impact of vehicles Endorsement
and the Smoke Endorsement.
11. The basis of value for declarations shall be the market value and any loss
hereunder shall be settled on the basis of the market value immediately
anterior to the loss. 12. If at the time of any loss, there be any other
subsisting insurance of insurance on other than a declaration basis, whether
effected by the Insured or by any other person or persons, covering the
stocks hereby insured, this Policy shall apply only to the excess of the value
of such stocks at the time of loss over the sum insured by such insurance or
insurances, and this Insurer shall not be liable to contribute more than that
proportion of such loss which such excess (or, if there be other declaration
insurances covering the same stocks, a rateable proportion of such excess),
but not exceeding the sum insured hereby, bears to the total value of the
stocks. 13. If after the occurrence of a loss it is found that the amount of the
last declaration previous to the loss is less than the amount that ought to
have been declared, then the amount which would have been recoverable by
the Insured shall be reduced in such proportion to the amount of the said last
declaration bears to the amount that ought to have been declared.
14.Notwithstanding the occurrence of a loss it is understood that the sum
insured will be maintained at all times during the currency of the Policy and
the Insured therefore undertakes to pay extra premium on the amount of any
loss pro rata from the date of such loss to the expiry of the period of
insurance, the premium being calculated at the rate applicable to the stock
destroyed and such extra premium shall not be taken into account in, and
shall be distinct from, the final adjustment of premium. 15. In the event of
this Policy being cancelled by the Insured during its currency (whether stocks
exist or not) the premium to be retained by the Insurer shall be the
appropriate short period premium calculated on the average amount insured
up to the date of the cancelment, or 50% of the provisional premium
whichever is the greater but if the Policy is cancelled by the Insured after a
loss has occurred the premium to be retained by the Insurer shall be the pro
rata proportion of the premium calculated on the average amount insured on
the date of cancelment plus the pro rata proportion if the premium from the
date of loss to the expiry of the period of insurance on the amount of the loss
paid, or 50% of the provisional premium whichever is the greater. 16.The
maximum liability of the Insurer shall not exceed the sum insured hereby and
premium shall not be receivable on values insured thereof. The sum insured
may, however, be increased by prior agreement with the Insurer in which
event the new sum insured and the date from which it is effective will be
recorded on the Policy by endorsement. 17. If the stocks hereby insured shall
at the time of loss be collectively of greater value than the sum insured
thereon, then the Insured shall be considered as being his own insurer for the
difference and shall bear a rateable proportion of the loss accordingly. Every
time, if more than one Sum Insured exist on stocks (other than retail) it shall
be separately subject to this condition. 18. It is warranted that every other
Policy on a declaration basis covering the stocks insured hereby shall be
identical in wording with this Policy. This insurance is subject in all respect to
the printed conditions of the Policy except in so far as they may be varied by
these special.
STRUCTURAL ALTERATION CLAUSE Subject to article III of the within policy, it
is hereby understood that structural alteration and extension of the buildings
mentioned in this is allowed, as are the erection of new buildings, installation,
reinstallation, replacement of machines, tools, implements, piping or other
installations required for the process carried on, parts of 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.
SUE AND LABOUR CLAUSE In case of actual loss, it shall be lawful and
necessary for the Insured, his or her factors, servants and assigns, to sue,
labour and travel for, in and about the defence, safeguard and recovery of
the property covered hereunder and part thereof without prejudice to this
insurance, nor shall the acts of the insured or the company in recovering,
saving and preserving the property covered in case of loss be considered a
waiver or an acceptance of abandonment.The expenses so incurred shall be
borne by the insured and the company proportionately to the extent of their
respective interests.
UNDAMAGED GOOD CLAUSE The Policy extends to include any loss incurred
less the amount of any salvage monies obtained in respect of undamaged
stock and/or materials in trade becoming unusable for any reason
whatsoever resulting solely from an occurrence of loss or damage insured by
this Policy.
VALUATION CLAUSE ‘A’ In the case of damage, each amount mentioned for
the buildings, machinery and tools will be accepted by us to represent
separately the actual value of the respective covered risks, immediately
before the fire, as if, in accordance with article 275 of the commercial code, a
valuation had taken place.
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,
providing always that the Insurer’s Liability shall not exceed the sum insured
of such Property under the Policy.
WAR AND CIVIL WAR EXCLUSION CLAUSE This agreement does not cover any
liability assumed by the Insured for loss or damage directly or indirectly
occasioned by happening through or in consequence of war, invasion, acts of
foreign enemies, hostilities or war-like operations (whether war be declared
or not), civil war, mutiny, civil commotion assuming the proportions of or
amounting to popular rising, military rising, insurrection, rebellion, revolusion,
military or usurped power, martial law, confiscation or nationalization or
requisition or destruction of or damage to property by or under the order of
any Government or public or local authotiy.
WORKMENS CLAUSE Workmen are allowed in and about any of the described
premises for the purpose or making new erections or alteration, repair,
decoration, plant installation, general maintenance and the like without
prejudice to the terms and conditions of the Policy.