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NO. : IP060114000432
Whereas the Insured named in the Schedule(s) hereto has provided certain information to the
(hereinafter called the Insurers) and the Insurers have accepted this information which shall be the basis of this
policy and is deemed and to be incorporated herein.
Now this policy of insurance witnesseth that subject to the Insured having paid or agree to pay to the Insurers the
premium mentioned in the schedule(s) and subject to the terms, eclusions, provisions and conditions contained
herein or endorsed hereon the Insurers will indemnify the Insured in the manner and to the etent hereinafter
!he Insurers will not indemnify the Insured in respect of loss (incl. conse"uential loss) destruction, damage or
epense whatsoever directly or indirectly caused by or arising out of or aggravated by
$. War, invasion, act of foreign enemy, hostilities or warli%e operations (whether war be declared or not) or civil
war& riot, stri%e, loc%ed'out wor%ers, malicious act, looting, mutiny, civil commotion, military rising, insurrection,
rebellion, revolution, military or usurped power, con(scation, re"uisition or nationali)ation, act of terrorism.
*!errorism+ means the use of violence for political ends and includes any use of violence for the purpose of
putting the public or any section of the public in fear.
,. ,.$ Ioni)ing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste
from the combustion of nuclear fuel.
,., !he radioactive toic eplosive or other ha)ardous properties of any eplosive nuclear assembly or nuclear
component thereof.
-. willfull act or willful negligence of the Insured or of his representatives
.. !otal or partial cessation of wor%
In any action, suit or other proceeding where the Insurers allege that by reason of the provisions of #clusion $)
and ,) above any loss, destruction, damage, epense or liability is not covered by this insurance the burden of
proving that such loss, destruction, damage, epense or liability is covered shall be upon the Insured
1. Defnii!n
!he Schedule(s) the Section(s) and the #ndorsement(s) and the /uestionnaire(s) shall be deemed to be
incorporated in and from part of this 0olicy and the epression *this 0olicy+ wherever used in this contract shall
be read as including the Schedule(s) the Section(s) and the #ndorsement(s) and /uestionnaire(s).
1ny word or epression to which a speci(c meaning has been attached in any part of a Section or of the
#ndorsement or /uestionnaire shall bear such meaning wherever it may appear in such Section, #ndorsement or
2. P!"i#$ A%!i&'("e
!his policy shall be avoidable in the event of misdescription, misrepresenting or non disclosure in any material
3. A"e)'i!n
-.$. Section I of this policy shall be avoided with respect to any of the 0roperty Insured in regard to which there
be any alteration after the commencement of this insurance.
-.$.$. by removal or
-.$.,. whereby the ris% of loss destruction or damage is increased or
-.$.-. whereby the interest of the Insured ceases ecept by will or operation of law unless admitted by the
Insurer in writing
-.,. Section II of this policy shall be avoided if after the commencement of this insurance
-.,.$. the business be wound up or carried on by a li"uidated or receiver or permanently discontinued or
-.,.,. the interest of the Insured ceases other than by death or
-.,.-. any alteration be made either in the business or on the premises or property therein whereby the ris%
of loss destruction or damage is increased unless admitted by the Insurer in writing.
4. *'))'nie+
#very warranty to which this policy is or may be made subject shall from the time the warranty attaches apply
and continue to be in force during the whole currency of this policy and non'compliance with any such warranty
in so far as it increase the ris% of any loss, destruction or damage shall be a bar to any claim in respect of such
loss, destruction or damage.
,. Re'+!n'("e P)e#'-i!n+
!he Insured shall ta%e all reasonable precautions to prevent loss, destruction or damage, e.g. ta%e at his own
epense all reasonable, comply with all reasonable recommendations of the Insurers to prevent loss, destruction
or damage, comply with statutory re"uirements and manufacturers recommendations.
6. Ri./ !0 In+1e#i!n
2epresentatives of the Insurers shall at any reasonable time have the right to inspect and eamine the ris% and
the Insured shall provide the representatives of the Insurers with all details and information necessary for the
assessment of the ris%. Said inspection3eamination shall not impose any liability on the insurer and shall not be
ta%en as guarantee for the insured of the safety standards of his operations.
2. C"'i3+ P)!#e&-)e
4.$. In the event of any occurrence which might give rise to a claim under this 0olicy, the Insured shall
immediately notify the Insurers by telephone or telegram as well as in writing about the nature and
etent of loss, destruction or damage
ta%e all steps within his power to minimi)e the etent of the loss, destruction or damage
preserve the parts a5ected and ma%e them available for inspection by a representative or surveyor of
the Insurers
furnish all such information and documentary evidence as the Insurers may re"uire
immediately inform the police authorities in case of loss or damage due to theft or burglary or malicious
6pon noti(cation being given to the Insurers under this condition, a representative of the Insurers shall have
the opportunity of inspecting the loss, destruction or damage before any repairs or alterations are e5ected.
If a representative of the Insurers does not carry out the inspection within a period of time which could be
considered as ade"uate under the circumstances the Insured is entitled to proceed with the repairs or
4.,. !he Insured shall not be entitled to abandon any property to the Insurers whether ta%en possession of by the
Insurers or not.
4.-. No claim shall be payable under this policy unless the terms of this 7ondition have been complied with.
4... 8raud
If a claim is fraudulent in any respect or if fraudulent means are used by the Insured or by anyone acting on
his behalf to obtain any bene(t under this policy or if any loss or destruction of or damage to the 0roperty
Insured or to property used by the Insured at the 0remises for the purpose of the 9usiness is caused by the
willful act or with the connivance of the Insured all bene(t under this policy shall be forfeited.
4. In&e3nif#'i!n
:.$. !he Insurers shall indemnify adjusted losses within -; days after receipt of loss adjuster<s (nal report or
e"uivalent proof of loss.
:.,. =iability having been admitted, payments on account not eceeding the minimum amount justi(ed by the
prevailing circumstances shall be e5ected.
:.-. !he Insurers shall be entitled to withhold indemni(cation
if there are doubts regarding the Insured right to receive the indemnity, pending receipt by the Insurers
of the necessary proof.
if in connection with the claim an eamination by the police or an in"uiry under criminal law has been
instituted against the Insured, pending completion of such eamination or in"uiry.
5. Ine)e+ 1'$3en+
!he Insurers shall not be liable to pay interest other than interest for default.
10. A)(i)'i!n
If any di5erence shall arise as to the amount to be paid under this policy (liability being otherwise admitted) such
di5erence shall be referred to the decision of an 1rbitrator to be appointed in writing by the parties& if they
cannot agree upon a single 1rbitrator to the decision of two 1rbitrators, one to be appointed in writing by each of
the parties, within one calendar month after having been re"uired in writing so to do by either of the parties, or,
in case the 1rbitrators do not agree, of an 6mpire to be appointed in writing by the 1rbitrators before entering
upon the reference. !he 6mpire shall sit with the 1rbitrators and preside at their meetings. !he ma%ing of an
award shall be a condition precedent to any right of action against the Insurers.
11. S-()!.'i!n
!he Insured shall at the epense of the Insurers do and concur in doing and permit to be done all such acts and
things as may be necessary or re"uired by the Insurers in the interest of any rights or remedies, or of obtaining
relief or indemnity from parties (other than those insured under this 0olicy) to which the Insurers shall be or
would become entitled or subrogation upon their paying for or ma%ing good any loss, destruction, damage or
liability under this 0olicy, whether such acts and things shall be or become necessary or re"uired before or after
the Insured indemni(cation by the Insurers.
12. O/e) In+-)'n#e
If at the time any claim arises under this 0olicy there is any other insurance covering the same loss, damage or
destruction the Insurers shall not be liable to pay or contribute more than their rate able proportion of any claim
for such loss damage or destruction.
13. Pe)i!& !0 In+-)'n#e
!he period of insurance is one year. Inception and epired shall both the $,.;; o<cloc% noon at the dates entered
in the schedule. !he insurance is automatically renewed for a year, unless Insurer or Insured re"uest in writing
the termination at epiry date, giving -; days notice.
14. A%e)'.e.
!he sums insured of each item under Section I and of Section II of this policy (other than those applying solely to
fees, rent, removal of debris or private dwelling houses) are declared to be separately subject to 1verage.
Se#i!n I >
If the property insured under any item shall at the commencement of any loss, damage or destruction hereby
insured against be collectively or greater value than the respective sum insured, then the Insured shall be
considered as being his own Insurer for the di5erence and shall bear a ratable share of the loss accordingly.
Se#i!n II >
!he Insurance is limited to loss of ?ross 0ro(t due to (a) 2eduction in !urnover and (b) Increase in 7ost of
Wor%ing and the amount payable as indemnity thereunder shall be>
a) in )e+1e# !0 Re&-#i!n in T-)n!%e) >
the sum produced by applying the rate of ?ross 0ro(t to the amount by which the !urnover during the
Indemnity 0eriod shall fall short of the Standard !urnover in conse"uence of the Incident.
b) in )e+1e# !0 In#)e'+e in C!+ !0 *!)6in. >
the additional ependiture (subject to the provisions of the 6ninsured standing 7harges 7lause) necessarily
and reasonably incurred for the sole purpose of avoiding or diminishing the 2eduction in turnover which but
for that ependiture would have ta%en place during the Indemnity period in conse"uence of the incident, but
not eceeding the sum produced by applying the 2ate of ?ross 0ro(t to the amount of the reduction thereby
=ess any sum saved during the Indemnity 0eriod in respect of such of the charges of the 9usiness payable out of
?ross 0ro(t as may cease or be reduced in conse"uence of loss destruction or damage provided that if the sum
insured by this item be less than the sum produced by applying the 2ate of ?ross 0ro(t to the 1nnual !urnover
(or to a proportionately increased multiple thereof where the @aimum Indemnity 0eriod eceeds twelve
months) the amount payable shall be proportionately reduced.
1,. De&-#i("e
!his policy does not cover the amounts of the deductibles stated in the Schedule in respect of each and every
loss as ascertained after the application of all other terms and conditions of the 0olicy including any condition of
Warranted that the Insured shall not e5ect insurance in respect of the amounts of the deductibles stated in the
16. S-37+8 In+-)e&.
!he Sum(s) Insured shall not be reduced by any indemnity payments.
!he Insurers hereby agrees with the Insured that if at any time during the period of insurance the items or any part of
thereof entered in the Schedule a whilst at the premises described in such schedule shall su5er any unforeseen,
sudden and accidental physical loss, destruction or damage other than those speci(cally ecluded in the general or
Special #clusions in a manner necessitating repair or replacement, the Insurer will indemnify the Insured in respect
of such loss, destruction or damage as hereinafter provided by payment in cash, replacement or repair (at the insurer
option) up to an amount not eceeding in respect of each of the items at any location speci(ed in the Schedule the
sum set opposite thereto (sum insured) and not eceeding in anyone event the limit of indemnity where applicable
and not eceeding in all the total sum epressed in the schedule as insured hereby.
S1e#i'" E:#"-+i!n+ ! Se#i!n I
$. !he Insurers shall not be liable for loss, destruction of or damage to
$.$ property in the course of construction or erection
$., property being wor%ed upon and actually arising from the process of manufacture testing repairing
cleaning restoring alteration renovation or servicing
$.- property in transit by road, rail or water
$.. licensed road vehicles, railway locomotive and rolling stoc%, watercraft, aircraft, spacecraft and the li%e
$.A jewelry, precious stones, precious metals, bullion, furs, curiosities, rare boo%s or wor%s of art
$.B standing timber, growing crops, animals, birds, (sh
$.4 land (including topsoil bac%(eld drainage or culvert), driveways, pavements, roads, runways, railway lines,
dams, reservoirs, surface water, underground water, canals, rigs, wells, pipelines, cables, tunnels, bridges,
doc%s, piers, wharves, mining property underground, o5shore property
$.: property in the possession of customers under 2ental 1greements or Cire 0urchase, 7redit or other
Suspense Sale 1greements.
$.D property which at the time of the happening of loss, destruction or damage is insured by or would but for
the eistence of this policy be insured by any marine policy or policies.
,. !he Insurers shall not be liable for loss, destruction of or damage to the property insured directly or indirectly
caused by or arising out of or aggravated by >
,.$ delay, loss or mar%et or other conse"uential or indirect loss or damage of any %ind or description
,., dishonesty, fraudulent act, tric%, device or other false pretense
,.- disappearance, uneplained or inventory shortage
,.. joint lea%age, failure of welds, crac%ing, fracturing, collapse or overheating of boilers, economi)ers,
superheats, pressure vessels or any range of steam and feed piping in connection therewith mechanical or
electrical brea%down or derangement in respect of the particular machine apparatus or e"uipment in which
such brea%down or derangement originates.
,.A all gradually operating causes, including but not limited to wear and tear, rust, corrosion, mildew, mold,
fungus, wet or dry rot, gradual deterioration, latent defect, inherent vice, slowly developing deformation or
distortion, insects larvae or vermin of any %ind, microbes of any %ind, unless sudden and unforeseen
physical loss, destruction or damage ensues, in which case insurers liability shall be limited to such ensuing
loss, damage or destruction.
,.B pollution or contamination, unless caused by (re, lightning, eplosion, aircraft or other aerial devices or
articles dropped therefrom, riot, civil commotion, stri%ers, loc%ed out wor%ers, persons ta%ing part in labor
disturbances, malicious persons (other than thieves), earth"ua%e, storm, Eood, escape of water from any
tan% apparatus or pipe or impact by any road vehicle or animal.
,.4 enforcement of any ordinance or law regulating the construction, repair or demolition of any property
insured hereunder ecept as provided for in the 0ublic 1uthorities @emorandum incorporated in this
,.: shrin%age, evaporation, loss of weight, change in Eavor, color, teture or (nish, action of light
,.D change in temperature or humidity, failure inade"uate operation of any air conditioning cooling or heating
system due to operating error. !he burden of proof that no operating error occurred, shall be upon the
,.$; eposure to weather conditions where property is left in the open or not contained in fully enclosed
-. !he insurers shall not liable for the costs
-.$ of rectifying defective materials, faulty wor%manship or design
-., of normal un%eep, normal ma%ing good, maintenance
-.- arising from false or unauthori)ed programming, punching, labeling or inserting, inadvertent canceling of
information or discarding of data media and from loss of information caused by magnetic (elds.
S1e#i'" C!n&ii!n+ ! Se#i!n I
1. S-3 In+-)e&
It is a re"uirement of this insurance that the sum insured stated in the Schedule shall not be less than the cost of
reinstatement as if such property were reinstated on the (rst day of the period of insurance which shall mean the
cost of replacement of the insured items by new items in a condition e"ual to but not better or more etensive
than its condition when new.
2. ;'+i+ !0 L!++ Se"e3en
In the event of any loss, destruction or damage the indemni(cation 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 >
,.$ Rein+'e3en !) )e1"'#e3en +/'"" 3e'n :
$) 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 or more etensive than its condition when new.
,) 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 etensive than its condition when
,., S1e#i'" P)!%i+i!n+ :
$) !he wor% of reinstatement (which may be carried out upon another site and any manner suitable to the
re"uirements of the Insured subject to the liability of the Insurers not being thereby increased) must be
commenced and carried out with reasonable dispatch otherwise no payment beyond the amount which
would have been payable under the policy if this special provisions had not been incorporated herein shall
be made.
,) Where any property is lost destroyed or damaged in part only the liability of the Insurers shall not eceed
the sum representing the cost which the Insurers could have been called upon to pay for reinstatement if
such property had been wholly destroyed.
-) If at the time of reinstatement the sum representing the cost which would have been incurred in the
reinstatement if the whole property covered by such item had been destroyed eceeds the sum insured
thereon at the commencement of any destruction of or damage then the Insured shall be considered as
being his own Insurer for the di5erence between the sum insured and the sum representing the cost of
reinstatement of the whole of the property and shall bear or ratable proportion of the loss accordingly.
.) 6ntil the cost of reinstatement or replacement shall have been actually incurred the amount payable under
each of the items shall be calculated on the basis of the actual cash value of such items immediately
before the loss destruction or damage with due allowance for depreciation for age, use and condition.
3. <i)+ L!++ In+-)'n#e
-.$ !he items mentioned hereinafter are covered on a 8irst =oss 9asis, subject to amounts per item entered in the
a) @oney and stamps (2p. $.;;;.;;;,')
b) #mployees 0edal 7ycles and other 0ersonal #5ects (2p. $.;;;.;;;,')
c) Focuments, @anuscripts and 9usiness 9oo%s > only the value of materials as stationery together with the
cost of clerical labor epended in writing up and not the value of the information to the Insured (2p.
d) 7omputer Systems records > the value of materials together with the cost of clerical labor and computer
time epended in reproducing such records (ecluding any epense in connection with the production of
information to be recorded therein), but not for the value of the information contained therein to the
insured (2p. $.;;;.;;;,')
d) 0atterns, @odels, @olds, 0lans and Fesigns& an amount not eceeding the cost of the labor and materials
epended in reinstatement (2p. $.;;;.;;;,')
-., Febris 2emoval
!his policy covers the necessary epense for removal of debris of insured property from the described premises
as a result of physical loss destruction or damage insured against under this policy
!he 7ompany<s total liability for debris removal is limited $; G of !otal Sum Insured
4. C'1i'" A&&ii!n+
!he insurance by this policy shall, subject to its terms and conditions etend to cover >
a) any newly ac"uired buildings, machinery and other e"uipment in so far as the same are not otherwise
insured, and
b) alterations, additions and improvements to buildings, machinery and other e"uipment
during the current period of insurance at any of the premises hereby insured, provided that >
$) at any one location this increase shall not eceed $; G of total sum insured on such item.
,) the insured advise the insurers within three months of the particulars of any such capital additions and
pay such additional premiums as the insurers may re"uire.