INS 269

FIRE INSURANCE

GROUP 4

PREPARED BY:

NAME ID STUDENTS
SHARIFAH NUR SALSABILA BARAKBAH BINTI SYED HAMDI 2020861358
AINNUR MYSARA BINTI ABDUL HALIM 2020464018
AINSYAH NUR FATIMAH BINTI MOHD RASHID 2020610334
MAS NUR HIDAYU BINTI JANURI 2020829128
NURUL NATASYA BINTI MOHAMMED GHAZALY 2020482122

PREPARED FOR:
MADAM SITI MUSLIHA BINTI MOHD IDRIS

SUBMISSION DATE:
13th JULY 2022
C h a p t e r 1 : S t a n d a r d F i r e P o licy

FIRE
Including fire resulting
from explosion LIGHTNING
Electrical discharge in the
atmosphere

EXPLOSION
Explosion of gas used for
illuminating or domestic purposes
in a building in which gas is not
generated and which does not
form part of any gas works
 War, invasion, act of
foreign enemy
Payment of premium
Typhoon, hurricane, This merely ensures that
Misrepresentation
tornado, cyclone or other payment of premium is

atmospheric disturbance. properly made to the

This is a reiteration of the
implied condition of company & printed form of
receipt signed by an official
Mutiny, riot, or any act ofdetermines the utmost good faith.
appointed agent of
proclamation or maintenance of
the company.
martial law or state of siege.

Earthquake, volcanic
eruption or other

convulsion of nature Other insurances

Excluded Perils Insurers would for the
This Insurance does not
cover any loss or damage Fire Policy purpose of enforcing the
principle of contribution
occasioned by or through or
Conditions
naturally like to ascertain
in consequence, directly or the other insurances
indirectly, of any of the effected to cover
following occurrences the insured
property.

Loss by theft during or

after the occurance of a
fire Fallen Buildings
Loss or damage caused by This condition provides
nuclear weapons / radioactive Excluded Risks automatic cancellation of
contamination

cover in the event of
Loss or damage to property Insurance does not collapse of the building
occasioned by its own which would amount to a
cover :
fermentation radical alteration in the
risk originally
Loss by burning under accepted.
orders of public authority
 Goods held in trust or on commission
Bullion or unset precious stones
Any curiosity or work of art for an
amount exceeding RM500
Pollution /
Fraud
Contamination Clause General Exclusion
Claim if fraudulent
Loss or destruction or
Manuscripts, plans, drawings or designs
Claim is supported by a
damage caused by pollution Unless otherwise expressly Security or computer system records
false declaration
or contamination except for stated in the policy this Coal by its own spontaneous combustion
Loss or damage is
which itself results from a insurance does not cover :
caused by the willful act
contingency hereby insured
of the insured Explosives
against
Any loss occasioned by explosion
Any loss occasioned through burning
of forests, bush, or lalang

Right of Entry Alteration

This condition confers Fire Policy The Insurance ceases to

attach as regards the
certain rights on the
Conditions
property affected unless the
insurers in the event of a
Insured, before the
claim. occurrence of any loss or
damage

Extensions Marine Clause

Wages of the insured's Loss Procedure Cancellation
This condition relieves
employees other than This condition lays down

insurers of any liability for

members of a works fire the duties of the insured in This condition provides for loss which is recoverable
brigade. the event of loss or cancellation of the policy under a marine policy
The cost of replacement damage and the by either party by giving except in respect of excess
of fire fighting procedure to be followed notice to the other beyond the amount
appliances. by the insured. party. recoverable
thereunder.
 Reinstatement Market Value Subrogation Contribution
Option of the insurer The Company shall pay the
This condition provides that This condition provides in
The insured has no right insured value or the ‘market
the insured shall render the event of double
to claim reinstatement value’ of insured property,
necessary & reasonable insurance the insurers'
Shall not be exact or whichever is the lower, subject
assistance to the insurer to liability will be limited to
to the deduction of any excess
complete but in recover the loss from third rateable proportion of the
and amounts which required
reasonably sufficient party. loss.
to bear under
manner.
the Policy.

Average
Contract
If there is under insurance, if

The policy and the

Fire Policy the sum insured under
policy is less than value of

Conditions
schedule herein shall be the property on the date of
read together as one fire the amount of loss
contract payable proportionately
reduced.

Notice
Limitation
The liability of the insurer for
Every notice and
any loss is extinguished
communication required
after the expiry of 12
by these conditions must
months from the date of
be in writing or loss unless the claim is
printed. pending or
arbitration.
Arbitration
Reinstatement of loss
The object of this condition
In the event of loss, the
is to ensure that disputes
insurance shall be
are settled quickly. The
maintained in force for the
procedure is less expensive full sum insured and the
than litigation & this results insured shall be liable to pay
in savings. an additional
premium.