QUOTATION SLIP

No. 1903/QS/PAR/10/2022

Type of Cover : • PROPERTY ALL RISKS Insurance extended with RSMD + CC

4.1B Endorsement / AAUI 2007 and Business Interruption in
consequence thereof
• EARTHQUAKE Insurance and Business Interruption in
consequence thereof

Wording / Form : • Munich-Re Standard Wording (Amended) extended with RSMD +

CC 4.1B Endorsement / AAUI 2007
• Indonesian Standard Earthquake Policy Wording - (Latest
Version)

The Insured : GENESIS WAREHOUSE and/or associated and/or subsidiary and/or

affiliated companies including those acquired or incorporated during
the period of insurance for their respective rights and interests.

Risk Location : As per list attached

Period of Insurance : 01 January 2023 – 31 December 2023

(Both dates inclusive at 12.00 o’clock at noon standard local time).

Occupation : PRIVATE WAREHOUSE (29371) and/or sales activities and/or

operation activities and/or others related to the insured business.

Interest Insured : Section I – Material Damage

All Real and Personal Property of every kind and nature of description
in or about the premises including material on the ground and all
structural appurtenances, foundation, fixtures, fittings attached and
belonging thereto and external walls, gates, fences, soft furnishing,
fixtures, fittings of every description, stock of every description related
to the Insured’s trade of business including raw material, work in
progress and finished goods, the property where the insured may be
held liable or shall have assumed liability, the property brought into
the premises and integral part thereof.

Section II – Business Interruption

Loss of Gross Revenue and additional expenditure suffered by the
insured from the date of interruption resulting from interruption or
interference with the business in consequence of a claim
indemnifiable under Property All Risk Policy (Section I) of the above
insured.
Deductibles : Section I – Material Damage
Any one loss or series of losses arising out of any one event:
▪ Fire, Lightning, Explosion, Impact of Falling Aircraft and Smoke:
NIL
▪ Riots, Strikes, Malicious Damage and Civil Commotion:
5% of claim, minimum IDR 5,000,000.00
▪ Typhoon, Storm, Flood, Water Damage, Landslide, Landslip &
Subsidence: 10% of claim
▪ Others : IDR 1,000,000.00

▪ Earthquake, Volcanic Eruption, Tsunami and fire following

Earthquake, Volcanic Eruption & Tsunami:
2.5% of Total Sum Insured

Section II – Business Interruption

3 ( Three ) days from the date of interruption except 7 days for
TSFWD and 14 Days For EQVET

Indemnity Period : 12 Months

Sum Insured : Section I

BUILDING : IDR 1,541,330,300,000.00

Section II
IDR 303,773,908,632.00

Additional Clauses : Applicable for Section I - Material Damage

(Applicable for PAR & 1. Alterations Clause (60 days)
EQ) 2. Alteration and Repairs Clause
3. All Other Contents Clause (Limit IDR 100,000,000.00 / item)
4. Appraisement Clause (15% of Total Sum Insured)
5. Automatic Reinstatement of Sum Insured (For PSAGBI – If Any)
6. Average Relief Clause (80%)
7. Automatic Increase Clause (Limit 10% of Total Sum Insured)
8. Brand and Label Clause
9. Breach of Warranty Clause
10. Broad Pair and Set Clause
11. Capital Additions Clause (10% of Total Sum Insured)
12. Civil Authorities Clause
13. Claim Mitigation Clause (Limit IDR 250,000,000.00)
14. Computer Record Clause
15. Cost of Re-erection Clause
16. Customer Goods Clause
17. Designation Clause
18. Defunct Spare Clause
19. Deterioration Of Stock Clause
20. Dispute Clause
21. Escalation Clause (10%)
22. Expediting Expenses Clause (10% of claim)
23. Fire Brigade Charges Clause
24. Fire Extinguishing Cost Clause
25. General Interest Clause
26. Impact by Own Vehicle Clause
27. Important Notice
28. Internal Removal Clause
29. Interpretation Clause
30. Leased Property Clause
31. Lessor’s Interest Clause (If any)
32. Loading and Unloading Clause
33. Loss of Damaged Goods Clause
34. Landscape Clause
35. Lanslide, Landslip and Subsidence Clause
It is hereby noted and agreed that, this policy shall also cover the
peril of subsidence, landslip or landslide.
36. Lock and Keys Clause
37. Misdescription Clause
38. Metered Gas Extension
39. Minor Alterations & Repairs Clause
40. Notification Clause
41. Non-Invalidation Clause
42. New Location and/or New Equipment Clause - Applicable for
Multi Location Only
43. Outbuilding Clause
44. Onsite Storage Clause
45. Outside Premises Storage Clause
46. Premises Clause
47. Preventive Measure Clause
48. Prorate Return Premium Clause
49. Property Undergoing Construction and Erection Including Testing
and Commissioning (Limit 20% of Total Sum Insured, maximum
IDR 10.000.000.000.00)
50. Public Authorities Clause
51. Removal of Debris Clause (10% of Total Sum Insured)
52. Removal Permit Clause
53. Rent Clause
54. Riot, Strikes, Malicious Damage plus Civil Commotion (RSMD
CC) 4.1B Endorsement / AAUI 2007
55. Reinstatement Value Clause (For PSAGBI – If Any)

In the event of any loss, destruction or damage to the

indemnification under this section shall be calculated on the basis of
the reinstatement or replacement of the property lost, destroyed or
damaged, subject to the following provisions :

A. Reinstatement or Replacement shall mean :

1. Where property is lost or destroyed, the rebuilding of any

buildings or the replacement of any other property by similar
property, in either case in a condition equal to but not better or more
extensive than its condition when new.

2. Where property is damaged, the repair of the damage and the

restoration of the damaged portion of the property to a condition
substantially the same as but not better or more extensive than its
condition when new.

B. Special Provisions

1. The work of reinstatement (which may be carried out upon

another site and in any manner suitable to the requirements of the
Insured subject to the liability of the Insurers not being thereby
increased) must be commenced and carried out with reasonable
dispatch otherwise no payment beyond the amount which would
have been payable under the policy if this special provisions had not
been incorporated herein shall be made.

2. Where any property is lost destroyed or damaged in part only the

liability of the Insurers shall not exceed the sum representing the
cost which the Insurers could have been called upon to pay for
reinstatement if such property had been wholly destroyed.

3. If at the time of reinstatement the sum representing the cost

which would have been incurred in the reinstatement if the whole
property covered by such item had been destroyed exceeds the sum
insured thereon at the commencement of any destruction of or
damage then the Insured shall be considered as being his own
Insurer for the difference between the sum insured and these sum
representing the cost of reinstatement of the whole of the property
and shall bear a rate able proportion of the loss accordingly
4. Until the cost of reinstatement or replacement shall have been
actually incurred the amount payable under each of the items shall
be calculated on the basis of the actual cash value of such items
immediately before the loss, destruction or damage with due
allowance for depreciation for age use and condition

56. Selling Price Clause

57. Electrical Short Circuit (Limit IDR 250,000,000.00 anyone loss
and IDR 1,000,000,000.00 in aggregate, applicable to items other
than Machineries)
58. Structural Alteration Clause
59. Sprinkler Leakage Clause
60. Stock Declaration Clause (75%)
61. Sue and Labor Clause
62. Service Clause
63. Temporary Removal Clause
64. Tenants Privilege Granted Clause
65. Transmission and Distribution Lines Exclusion Clause
All Transmission and distribution, including wire, cables, poles,
pylons, standard towers and any equipment of any type of which may
be attendant to such installation of any description. This exclusion
includes but not limited to transmission or distribution of electrical
power, telephone or telegraph signal and all communication signals
whether audio or visual.
This exclusion applies to both above and below ground equipment
except that which is within 1,000 meters of the insured’s premises or
as defined in the Assured’s original policy (ies).
This exclusion applies both to physical or damage to the equipment
and all business interruption, consequential loss and/or other
contingent losses related to transmission and distribution lines.
66. Tenant Improvement Clause
67. Undamaged Stock Clause
68. Vehicle Load Clause
69. Workmen’s Clause
70. 72 Hours Clause (Including TSFWDLLS & RSMD + CC 4.1B
Endorsement/AAUI 2007)

Applicable for Section II - Business Interruption

71. Accumulated Stock Clause
72. Auditors Charged Clause
73. Account Receivable Clause
74. Alternative Trading Clause
75. Additional Increased Cost of Working
76. Book Debt Clause
77. Business Interruption Upward Adjustment Clause (15%)
78. Computer Installations
79. Closure by Public Authorities Clause
80. Departmental / Inter-Dependency Clause
81. Fines and Penalties Clause
82. Ingress/Egress (Denial of Access)
83. Isolation by Landslide or Flood
84. Material Damage Proviso Waiver Clause
85. Civil or Military Authority (Intervention of Authorities)
86. Premium Adjustment Clause (50%)
87. Public Utilities Clause
88. Professional Accountants Clause
89. Port Blockage
90. Suppliers & Customers Extension Clause
91. Turnover / Output Alternative

Applicable for All Section

92. Banker’s Clause
Noted and agreed that the property insured by this policy has been
mortgaged with :
Name of Bank :
And that in consequence thereof, it has been agreed with the said
mortgaged and the insured, that in case of loss,
if any, payable under this policy less than 15% of Total Sum
Insured hereunder shall be payable to the insured (s) and claim
more than or equal to 15% of Total Sum Insured shall be payable
to the said bank, unless the bank shall give it's written consent
that any such claim shall be released to the insured.

This clause to be null and void no receipt of advice from the said
mortgaged that they are no longer interested in the property
insured under this policy.
93. Cancellation Clause (60 days)
94. Cost of Re-writing Records and Claim Preparation Clause
95. Currency Clause
96. Error and Omission Clause
97. Loss Notification Clause (60 days)
98. Nominated Adjuster Clause :
It is hereby noted and agreed that in the event of a claim, loss
adjusters to be selected from the following panel :

- Charles Taylor / PT. Radita Hutama Internusa

- VRS PT. Prima Adjusterindo Mandiri
- Atlas Adjuster

It is further noted and agreed that Insured is given the right to

select and appoint the above listed adjuster on behalf of the
Insurer”
99. Payment on Account Clause (75%)
100. Premium Payment Warranty ( 90 Days )
 101. Professional Fees Clause (10% of Total Sum Insured)
102. Waiver of Subrogation Clause
103. Notice of cancellation clause
It is hereby noted and agreed that this policy cannot be cancelled
or suspended for whatever reason without the Insurance
Company giving the Insured’s Broker 14 days written notice of
such intention.

Rate : As per list attached

Premium Calculation : As per list attached

Premium Payment 1st Installment due on 30 days from policy received (20%)
Installment 2nd Installment due on 60 days from policy received (20%)
3rd Installment due on 90 days from policy received (20%)
4th Installment due on 120 days from policy received (20%)
5th Installment due on 150 days from policy received (20%)

Brokerage : 15% + VAT

Security : First Class Insurance Company -100%

Jakarta, November 2022

Signed for and on behalf of
Confirmed by : PT. PIALANG ASURANSI INDOTEKNO

________________________ ___________________________
Date : ……/……./…….
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