QUOTATION SLIP

10 March 2023

SM MOA, Pasay City

Dear Mam,

Pleased to present to you our proposal for the property described below:
INSURED’S NAME : subsidiary, affiliated,
controlled companies now or hereafter formed or
acquired.

LOCATION OF RISK : Branch)

PROPERTIES INSURED : On the building Improvement / Machineries / Equipment

SUM INSURED : PHP 5,000,000.00

PERIOD OF INSURANCE : TBA

(Both days inclusive at 4:00 pm Phil. Standard Time)

OCCUPANCY : Restaurant

COVERAGE: A) MATERIAL DAMAGE

Fire, Lightning, Windstorm, Storm, Hurricane, Tsunami, Tidal wave,
Typhoon, Flood, Full Earthquake, Explosion, Aircraft, Impact by
Road Vehicles, Smoke, Water Damage caused by the
Overflowing or Bursting of Water Tanks, Pipes, or other
Apparatus, Subsidence and Landslide, Erosion, Riot and Strike,
Civil Commotion, Malicious Acts, Electrical Injury being the
Overheating of Electrical and Electronic Equipment without Actual
Ignition, Bush Fire, Broad Water Damage, Spontaneous
Combustion and Sprinkler Leakage.

Supplementary Cover
 Comprehensive General Liability
Cover for legal liability to pay compensation in respect of third
Party
bodily injury or property damage caused by an occurrence in the
insured’s premises in connection with the operation of
the Insured’s business.
 Php 50,000.00 - Annual Aggregate
5,000.00 - TPL BI per occurrence
5,000.00 -TPL PD per occurence

Comprehensive Gen. Liability

Defective Sanitary Installations Clause
Deleterious Matter in Food and Drink Clause
Fire Legal & Explosion Liability Clause
Insured to include Director, Officer or Employee of the Insured
Loss of Property of Guests Clause (subject to a limit of 100k per
occurrence; 1Million in annual aggregate
Premises Medical Payments (5K/person, 50k in annual agg.)

Basis of Valuation/
Indemnity : Material Damage- On Replacement Value
Comprehensive Gen. Liability- On Actual Cost plus
Defense Cost

Deductibles: Insured shall bear the first amount of any loss as follows:

Material Damage:

a) 2% of the actual value of the property affected or item

affected at the time of the loss in respect of Earthquake,
Typhoon and Flood

b) 1% of the sum insured on the affected item at the time of

the loss, subject to a minimum of Php1,000 and a maximum
of Php500,000 in respect of Aircraft, Smoke, Explosion and
Vehicle Impact.

c) Broad Water Damage, Bursting of Water Tanks, Pipes

and other Apparatus, Sprinkler Leakage - Php20,000 each
and every loss.

Comprehensive General Liability

a) 10% of the loss, minimum of Php5,000 for each and every

loss, in respect of Third Party Property Damage only.

Other Conditions: Material Damage

All Other Contents
Alterations and Repairs
Appointed Loss Adjusters(Crawford & Company Philippines, Inc.)
Automatic Extension of Period of Insurance (30 days) based on
expiring terms and conditions) and subject to additional premium
Awnings, Blinds, Signs, or Other Outdoor Fixtures, Fittings or any
Description Clause
Capital Additions Clause (20% for 60 days)
Designation Clause
 Fire Brigade charges to 1Million annual agg.
Minor Works Clause
Misdescription
Outbuildings
Other Interests
Premises Clause
Professional Fees up to 100k in annual agg.
Property under care, custody and control
Public Authorities
Reinstatement of Sum Insured
Removal of Debris up to 50k in annual agg.
Restoration of Records (limit of 1Million per document,
100k per event)
Services Clause
Staggered Payment Premium Payment
Subrogation Waiver for Parent, Associate or Subsidiary
Companies
Sue and Labor
Temporary removal up to 100k in annual agg.
Vehicle Load
72Hour Clause

Annual Premium: Php 17,421.25 (inclusive of taxes)

(0.275%)

Insurer: TRAVELLERS INSURANCE AND SURETY CORP.

Hope to receive your instruction for issuance soonest.

Thank you.

Very truly yours, Conforme:

ASIAN ASSET INSURANCE BROKERAGE CORP.

FHAYE I. PANGALANGAN _________________________________

Senior Manager Signature over Printed Name / Date