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    Insurance

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    Iqbal Hossain

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    © All Rights Reserved
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    = HL Assurance THE COMPANY : HL Assurance Pte. Ltd. The Schedule INSURANCE CLASS: MACHINERY ALL RISKS POLICY NO. + MAR/22-MAOOI622 INSURED NAME AND ADDRESS: HSL GROUND ENGINEERING PTE LID AS HIRER &/OR MAYBANK SINGAPORE LIMITED AS OWNER INSURED NO.: 10483005 FOR THEIR RESPECTIVE RIGHTS AND AGENT NO. : LBRKOO17 INTERESTS NO.42D PENJURU ROAD SINGAPORE 609162 PERIOD OF INSURANCE: FROM 03/08/2022 10 02/08/2023 (BOTH DATES INCLUSIVE) RISK NO. 0001: MACHINERY ALL RISKS BUSINESS : ENGINEERING OWNER : MAYBANK SINGAPORE LIMITED SITUATION : ANYWHERE IN SINGAPORE BUT EXCLUDE WATERBORNE RISKS AND WORK ONBOARD VESSELS ITEM PROPERTY INSURED SUM _INSURED 01 ON 3 UNITS OF SANY CRAWLER CRANE sqp+####1,164,000.00 MODEL: SANY SCC@50A SERIAL NUMBER: CCOD85SCCO995 ccovescco997 ccovasccosas you: 2022 COUNTRY OF ORIGIN: CHINA SUM INSURED: $368,000.00 PER UNITS TOTAL SUM INSURED BASIC PREMIUM, sD 4,656.00 cst ( 74) : scp 325.92 TOTAL PREMIUM DUE : Sqp¥#¥04¥%4, 981.92 CANCELLED AND REPLACING COVER NOTE NO. CN234439 EXCESS HL Assurance Pte. Ltd. snentselseiig ines 11 Keppel Road, 977-07 AB Plaa, Singapore 089057 Tek 6S 6922 6030 Fax: 65 6221 3782 vovesiaqnnazemmssN www.hlascomsg ~ SEHL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00001 THE COMPANY SHALL NOT BE LIABLE FOR THE FIRST 10% OF Loss, SUBJECT TO MINIMIM 8$7,500 FOR EACH & EVERY LOSS PER UNIT MEMORANDUM, XT IS HEREBY DECLARED AND AGREED THAT EXCLUSION NO. 4 IS DELETED FROM THIS POLICY. SUBJECT TO THE FOLLOWING CLAUSES/WARRANTIES/ENDORSEMENTS/MEMORANDUM APPLICABLE 70 THE ABOVE RISK PRINTED HEREUNDER AND/OR ATTACHED HERETO :~ MA12 REINSTATEMENT OF LOSS CLAUSE MAB6 APPROVED ADJUSTERS CLAUSE MR73. BREACH OF CONDITIONS CLAUSE MAS? ERECTION/DISMANTLING CLAUSE - EXTENDS 0 INCLUDE JACKING MA76 INLAND TRANSIT MAS LOADING/UNLOADING AND HOISTING CLAUSE MA83_ PROFESSIONAL ACCOUNTANT'S CHARGES CLAUSE MR68 PAYMENT ON ACCOUNT CLAUSE MAB2 REMOVAL OF DEBRIS CLAUSE MA67 STRIKE, RIOT & CIVIL COMMOTION CLAUSE MAB4 MALICIOUS DAMAGE CLAUSE MATZ TANDEM LIFTING WARRANTY MA10 WAIVER OF SUBROGATION CLAUSE MA68 BASIS OF SETTLEMENT MA69 RESULTANT DAMAGE CLAUSE MR52 HIRE PURCHASE AGREEMENT CLAUSE MR66 NON-CANCELLATION CLAUSE (GENERAL) MR79 LOSS PAYEE CLAUSE MA7T9 COMMUNICABLE DISEASE EXCLUSION - LMA 5397 MABO ELECTRONIC DATA ENDORSEMENT B MAB1 PROPERTY CYBER AND DATA ENDORSEMENT This Policy is subject to minimum premium : scp+*###25.00 DATE OF SIGNATURE OF PROPOSAL AND DECLARATION: 06/05/2022 SIGNED AT SINGAPORE ON: 22/08/2022 FOR AND ON BEHALF OF HL Assurance Rte. Led ‘UTHGRT2ED SIGNATURE HL Assurance Pte. Ltd. Atenteoletigtems se 11 Keppel Road, #11-01 AB Plaza Singapore 069057 Tek 6S 6922 6030 Fax: 65 6221 3782 uovestaq na zorsHN —_wwrwlas.comsg ~ S$EHL Assurance (CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00002 MAI2 REINSTATEMENT OF LOSS CLAUSE In the event of any loss covered by this Policy and in the absence of written notice by the Company or the Insured to the contrary, the amount of insurance cover reduced by such loss will be automatically reinstated as from the date of the loss provided the Insured pays the appropriate additional premium computed from the date of the loss to ‘the expiry of the Period of Insurance. MAB6 APPROVED ADJUSTERS CLAUSE It is hereby declared and agreed that in the event of any loss covered by the Policy, the amount of such loss shall be adjusted subject to the terms, and conditions of the Policy by any of the following panel of adjusters: (A) Sedgwick Singapore Pte Ltd (b) Mctarens Singapore Pte Ltd MR73_ BREACH OF CONDITIONS CLAUSE Any breach of the within conditions without the knowledge and consent of the Insured shall not prejudice this insurance provided notice, in writing, be given to the Company immediately upon such breach coming to their knowledge MAS7 _ ERECTION/DISMANTLING CLAUSE - EXTENDS TO INCLUDE JACKING It is hereby declared and agreed that this Policy is extended to cover loss of or damageto Insured Property during erection or dismantling MAT6 INLAND TRANSIT ‘The insurance under this policy extends to cover the insured property whilst in transit. ‘The insurer shall not be liable for loss or damage from unattended conveyance MAB LOADING/UNLOADING AND HOISTING CLAUSE This Policy is extended to cover loss/damage to the Property Insured whilst being loaded, carried unloaded and hoisted a ML Assurance Pte. Utd. nent snes 41 Keppel Rood, #77-07 ABI Plaza, Singapore 089057 Tek 6S 6922 6030 Fax: 6S 6221 3782 voyesranna orzssen wwwehlascomsg $F HL Assurance CONTINUATION POLICY NO. : MAR/22-NA001822 TRAN. NO. : 00001 MAB3__ PROFESSIONAL ACCOUNTANT’S CHARGES CLAUSE ‘The Insurance by this Policy shall extend to include professional accountant's charges reasonably incurred by the Insured for producing and certifying any particulars required by the Company in connection with the investigation and verification of a claim, and it is under- stood and agreed that the particulars or details so produced and certified shall be prima facie evidence of the particulars and details to which they relate Provided that the total aggregate amount recoverable under this extension during any one Period of Insurance does not exceed 20% of of Sum Insured. MR68 PAYMENT ON ACCOUNT CLAUSE If liability under this Policy for loss has been established, but the Final loss amount payable has yet to be determined, progress payments on account will be made upon his request to the Insured at such times and for euch amounts as may be agreed with by the Company, provided the sum of such payments is deducted from the finally determined amount of insured loss MAG2 REMOVAL OF DEBRIS CLAUSE The insurance by this Policy extends to include costs and expenses necessarily incurred with the consent of the Company in : (4) removing debris (33) dismantling and/or demolishing (444) shoring up or propping (av) effecting temporary repairs of the portion or portions of the property insured by this Policy (including the Insured's legal lisbility for the cost of removal of debris, dismantling, demolishing, or repairing adjoining premises on the site) destroyed or damaged by fire or lightning oz other peril insured against by this Policy. Provided that : (a) such cost or expenses is not recoverable under any other policy of (b) the Liability of the Company under this memorandum shall in no case exceed 20% of the sum insured of the item involved unless otherwise stated in the Schedule, nor, in all, the total policy Sum Insured specified in the schedule. 5/ HL Assurance Pte. Ltd. ssumetoe yin 11 Keppel Road, #11-01 ABI Plaza, Singapore 089057 Te: 656922 6030. Fax: 656221 3782 unvest anna uss wowehls.comsg = HL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. No. : 00002 (@) The indeanity provided by this memorandum shall not include costs of removing, nullifying or cleaning-up seeping , polluting or contaminating substances mas STRIKE, RIOT & CIVIL COMMOTION CLAUSE ‘The insurance under this Policy is extended to include physical loss to insured property directly caused by A) The act of any person taking part together with others in any isturbance of the public peace (whether in connection with a strike or lock-out or not) B) The willful act of any striker or locked-out worker done in furtherance of a strike or in resistance to lock-out ©) The action of any lawfully constituted authority in suppressing or attempting to suppress or in minimizing the consequences of any Act mentioned in (A) and (B) above But excluding w aay (342) Damage occasioned through or in consequence, directly or indirectly, of a) Any act of terrorism committed by any person acting on behalf of, or in connection with, any organization (For the purposes of this exclusion ‘Terrorism’ means the use of violence for political ends and includes any use of violence for the Purposes of putting the public or any section of the public an fear) b) the malicious act of any person (whether or not such act is committed in the course of disturbance of the public peace) not being the willful act of any rioter striker or or locked-out worker in furtherance of a riot or strike or in resistance to a lock-out Damage resulting from total or partial cessation of work or the retarding or interruption or cessation of any process or operation. Damage occasioned by a) permanent or temporary dispossession resulting from confiscation, comnandeering or requisition by any lawfully constituted authority b. permanent or temporary dispossession of any building resulting from the unlawful occupation by any person of building provided nevertheless that the company is not relieved of any liability to the insured in respect of physical damage to the property insured occurring before dispossession or during temporary dispossession 6/ HL Assurance Pte. Ltd. asunstoe ney 11 Keppel Road, #11-01 AB Plaza, Singapore O890S7_Te: 656922 6030 Fax: 656221 3782 wast eanwa roeasssw — wwwihls.com.sg $F HL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00002 iWae4 MALICIOUS DAMAGE CLAUSE The policy is extended to cover accidental loss of or damage arising from, in consequence of or in connection with any acts of vandalien or malicious acts by any persons provided euch acts are not committed with the wilful intention or in connivance with the insured. MA72 TANDEM LIFTING WARRANTY Tt is agreed and understood that otherwise subject to the terme, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the insurers shall only indemnify the insured for loss, damage or liability directly or indirectly caused to the cranes involved in tandem lifting provided. 1) only crane drivers with experience of tanden lifts should be employed. 2) both cranes must be fitted with automatic safe load indications. 3) cranes must be positioned on compacted ground with attention to crane levelling prior to ligt. If required, adequate timbers or steel plates should be placed under outriggers and/or blocking pads to ensure no sinking once load is taken. Special care should be exercised to make sure blocking pads are not positioned over back-filled trenches 4) both cranes should be fully inspected prior to the lift to ensure structure, hydraulics, wire ropes and hoist brakes and clutches in good order. Cranes should hold current test certificate and certificate of fitness 5) one supervisor who can be seen and heard clearly by both crane drivers (usually portable radio equipment used) should control the ligt. 6) load lifted should be shared equally between 2 cranes and lift points calculated accordingly. 7) all lifting tackle should be adequate in eize and thoroughly inspected immediately prior to ligt by competent enginser to check for broken or damaged wires, cracks, ete. MALO WAIVER OF SUBROGATION CLAUSE Any claimant under this Policy shall at the request and at the expense of the Company do and concur in doing and permit to be done all euch acts and things as may be necessary or reasonably required by the Company for the purpose of enforcing any rights and remedies or of obtaining relief or indemnity from other parties whether such acte and things shall be or becone necessary or required before or after indemnification by the Company. The rights of subrogation against associated, affiliated and/or subsidiary corporations or companies and/or any partner, officer and/or individual working in such entities is waived. HL Assurance Pte, Ltd. sent serosa 11 Keppel Road, #11-01 ABI Plaza, Singapore 089057 Tek 6S 6922 6030 Fax 65 6221 3782 vovestaepna onmssaN wwwhlas.comsg + HL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00001 MAGS BASIS OF SETTLEMENT A) If the sum insured represents the current new replacement value of the item at the time of loss or damage losses other than total losses will be indemnifiable without any deductions being necessary in respect of age and the condition of the item 1B) If the sum insured does not represent the iten's new replacement value the indemnity payable will take into account the age and condition of the item ©) In the event of a total loss where repair is not possible or where repair is not possible or where the repair costs would exceed the actual value of the item the indemnity payable shall be limited to the item's actual value at the time of the loss or damage (less the value of any ealvage) MA69 RESULTANT DAMAGE CLAUSE It is hereby agreed and understood that thie policy does not cover loss or damage of the property insured caused by its own electronic, mechanical or electrical breakdown, failure, breakage, overheating, derangement, wear and tear, corrosion or deterioration due to atmospheric condition, inherent vices, rusting, oxidation, discoloration, any process of cleaning, restoring, alterations, maintenance, repairing or otherwise or scratching of painted of polished surfaces. This exclusion shall be limited to the parts of the property insured immediately affected and shall not exclude loss or damage to other parts of the property insured as a consequent thereof. MRS2 HIRE PURCHASE AGREEMENT CLAUSE Tt is understood and agreed that the Owners specified in the Schedule (hereinafter referred to as the Owners) are the owners of the insured interests which are the subject of a Hire Purchase Agreement made between the Owners and the Insured. Tt is further understood and agreed that any payment mada in respect of loss or damage (which loss cr damage is not made good by repair reinstatement oz replacement) under this Policy shall be made to the Owners as long as they are Owners of the insured interests and their receipt shall be 2 full and final discharge to the Company in respect of such loss or damage. It is also understood and agreed that notwithstanding any provision in the Hire Purchase Agreement to the contrary this Policy is issued to the Insured named in the Schedule as the principal party and not as an agent or trustee for the Owners and nothing herein shall be construed as constituting the Insured an agent or trustee for the Owners or as an aceignment (whether legal or equitable) by the Insured to the Owners of his rights benefits and claims under this Policy. It is lastly understood and agreed that the Insured shall not assign his 8/ HL Assurance Pte, Ltd. senile ena ir 11 Keppel Road, 011-01 ABI Plaza, Singapore 089057 Tek 65 6922 6030 Fax: 5 6221 3782 vovesraerne zone wwrhlascomsg $F HL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00001 Fights benefite and claims under this Policy without prior consent in writing of the Company. Subject otherwise to the terms of this Policy. R66 NON-CANCELLATION CLAUSE (GENERAL) ‘The Company undertakes to advise the Bank or Finance House noted in the Schedule prior to the cancellation of this Policy if instructions have been received for the cancellation from the Insured and also to advise the aforesaid Bank or Finance House as soon as possible of any material changes which are proposed to be made in the terms of the MRT9. “LOSS PAYEE CLAUSE It is understood and agreed that the Bank named in the Schedule are interested in any monies which but for this endorsement would be Payable to the Insured under this Policy in respect of loss of or danage to the insured property and such monies shall be paid to the Bank until such time as notice is given by them to the Company that they have no further financial interest in the insured property and their receipt shall be a full and final diecharge to the Company in respect of such loss or damage. Save as by this endorsement expressly agreed, nothing in this menorandun shall modify or affect the rights and liability of the Insured or the Company respectively under or in connection with the Policy. And it is further agreed that whenever the Company shall pay the said Bank any sum in respect of loss or damage under this Policy and shall. claim that as to the Insured or Owner no liability therefore existed, ‘the Company shall become legally subrogated to all the rights of Bank to the extent of such payment but not so as to impair the right of the said Bank to recover the full amount of any claim it may have on such Insured or Owner or on any other party or parties insured under this Policy or from any securities of funds available MA79 COMMUNICABLE DISEASE EXCLUSION - LMA 5397 1. Notwithstanding any provision to the contrary within this insurance, this insurance does not insure any loss, damage, clain, cost or expense of whatsoever nature directly or indirectly caused by contributed to by, resulting from, arising out of, or in connection with a Communicable Disease or the fear or threat (whether actual or perceived) of a Communicable Disease regardless of any other cause or event contributing concurrently or in any other sequence thereto. of HL Assurance Pte. Ltd. snc eting arg 11 Keppel Road, #17-01 ABI Plana, Singapore 089057 Tek 65 6922 6030 Fax: 65 6221 3782 uovsstaeme.zonzsen wwwlascomsg CONTINUATION + HL Assurance POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00002 2. As used herein, a Communicable Disease means any disease which can be transmitted by means of any substance or agent from any organism to another organism where: 2.1. the substance or agant includes, but is not limited to, a virus, bacterium, parasite or other organism or any variation thereof, whether deemed living or not, and 2.2. the methed of transmission, whether direct or indirect, includes but is not limited to, airborne transmission, bodily fluid transmission, transmission from or to any surface or cbject, solid, liquid or gas or between organians, and 2.3. the disease, substance or agent can cause or threaten bodily injury, illness, damage to human health, human welfare or property. ASO ELECTRONIC DATA ENDORSEMENT B 1. Electronic data exclusion Notwithstanding any provision to the contrary within the policy or any endorsement thereto, it is understood and agreed as follows A) This policy does not insure loss, damage, destruction, distortion, erasure, corruption or alteration of electronic data from any cause whatsoever (including but not limited to computer virus) or loss of use, reduction in functionality, cost expense whatsoever nature resulting therefrom, regardless of any other cause or event contributing concurrently or in any other sequence to the loss Electronic data means facts, concepts and information converts to a form useable for communications, interpretation or processing by electronic and electromechanical data processing or electronically controlled equipment and includes progranaes, software and other coded instructions for the processing and manipulation of data or the direction and manipulation of such equipment. Computer virus means a set of corrupting, harmful and otherwise unauthorized instructions or code including a set of maliciously introduced unauthorized inetructions or code programmatic or otherwise, that propagate themselves through a computer system or network of whatsoever nature. Computer virus includes but is not limited to "trojan horses", "worms" and "time or logic bonbs". B) However, in the event that 2 peril listed below results from any of the matters described in paragraph a) above, this policy, subject to all its terms, conditions and exclusions, will cover physical damage occurring during the policy period to property insured by this policy directly caused by such listed perils. 20/ HL Assurance Pte. Utd. sero tetntena coy 11 Keppel Ro2d, #11-01 RB Plaza, Singapore 089057 Tek 6 6922 6030 Fax 65 6221 3782 woyesttge zor¥seN _worhlas.comsg $F HL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00002 Listed perils Fire, lightning, explosion, aircraft or vehicle impact, falling objects, windstorm, hail, tornado, cyclone, hurricane, earthquake, volcano, tsunami, flood, freeze or weight of snow 2. Electronic data processing media valuation Notwithstanding any provision to the contrary within the policy or any endorsement thereto, it is understood and agreed as follows: Should electronic data processing media insured by this policy suffer physical loss or damage insured by this policy, then the basis of valuation shall be the cost of the blank media plus the costs of copying the electronic data from back-up or fron originals of a previous generation. These costs will not include research and engineering nor any costs of recreating, gathering or assembling such electronic data. If the media is not repaired, replaced or restored the basis of valuation shall be the cost of blank madia. However this policy does not insure any amount pertaining to the value of such electronic data to the assured or any other party, even if such electronic data cannot be recreated, gathered or assenbled. MAB1 PROPERTY CYBER AND DATA ENDORSEMENT 1. Notwithstanding any provision to the contrary within this Policy or any endorsement thereto this Policy excludes any: 1.1. Cyber Loss, unless subject to the provisions of paragraph 2: 1.2. loss, damage, liability, claim, cost, expense of whatsoever nature directly or indirectly caused by, contributed to by, ; resulting from, arising out of or in connection with any loss of use, reduction in functionality, repair, replacement, restoration or reproduction of any Data, including any amount pertaining to the value of such Data, unless subject to the provisions of paragraph 3; regardless of any other cause or event contributing concurrently or in any other sequence thereto 2. Subject to all the terms, conditions, limitations and exclusions of this Policy or any endorsement thereto, this Policy covers physical loss or physical damage to property insured under this Policy caused by any ensuing fire or explosion which directly results from a Cyber Incident, unless that Cyber Incident is caused by, contributed to by, resulting from, arising out of or in connection with a Cyber Act including, but not limited to, any in controlling, preventing, suppressing or remediating any Cyber Act. 3. Subject to all the terms, conditions, limitations and exclusions -10- --ril/ HLAssurance Pte. Ltd, swenwotse ney san a 11 Keppel Road, #11-01 ABI Plaz, Singapore 089057 Tel: 65 6922 6030. Fax: 6562213782 wast eqmys rcmavssen wohl coms = HL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00002 Gf this Policy or any endorsement thereto, should Data Processing Media owned or operated by the Insured suffer physical loss or physical damage insured by this Policy, then this Policy will cover the cost to repair or replace the Data Processing Media itself plus the costs of copying the Data from back-up or from originals of a previous generation. These costs will not include research and engineering nor any costs of recreating, gathering or assembling the Data. If such media is not repaired, replaced or restored the basie of valuation shall be the cost of the blank Data Processing Media. However, this Policy excludes any anount pertaining to the value of such Data, to the Insured or any other party, even if such Data cannot be recreated, gathered or enbled. In the event any portion of this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect. 5. This endorsement supersedes and, if in conflict with any other wording in the Policy or any endorsement thereto having a bearing on Cyber Loss, Data or Data Processing Media, replaces that wording. Definitions 6. Cyber Loss means any loss, damage, liability, claim, cost or expense of whatsoever nature directly or indirectly caused by, contributed to by, resulting from, arising out of or in connection with any Cyber Act or Cyber Incident including, but not limited to any action taken in controlling, preventing, suppressing or remediating any Cyber Act or Cyber Incident. 7. Cyber Act moans an unauthorised, malicious or criminal act or series of related unauthorised, malicious or criminal acts, regardless of time and place, or the threat or hoax thereof involving access to, processing of, use of or operation of any Computer system. 8. Cyber Incident means 8.1 any error or omission or series of related errors or omissions involving access to, processing of, use of or operation of any Computer Systen; or 8.2 any partial or total unavailability or failure or series of related partial or total unavailability or failures to access, Process, use or operate any Computer System. 9. Computer System means: 9.1 any computer, hardware, software, communications system, electronic device (including, but not limited to, smart phone. nu- eau HL Assurance Pte. Utd. nent deateng cas 111 eppel Road, #17-01 ABI Plaza, Singapore 089057 Tel 65 6922 6030. Fax: 65 6221 3782 uovsiteiie 2rmzssom — vowwhlas.comsg, $F HL Assurance CONTINUATION POLICY NO. : MAR/22-MA001822 TRAN. NO. : 00002 laptop, tablet, weareble device), server, cloud oF microcontroller including any similar system or any configuration of the aforementioned and including any associated input, output, data storage device, networking equipment or back up facility, owned or operated by the Insured or any other party. 410. Data means information, facts, concepts, code or any other information of any kind that is recorded or transmitted in a forn to be used, accessed, processed, transmitted or stored by = Computer system. 11, Data Processing Media means any property insured by this Policy on which Data can be stored but not the Data itself. oS HLAssurance Pte. Ltd. nonce teng cs 11 Keppel Road, #17-01 ABI Plaza, Singapore 089057 Tel: 65 6922 6030 Fax: 65 6221 3782. unis pte 20m2750" wow.ascoms9 3 HL Assurance MACHINERY ALL RISKS INSURANCE POLICY WHEREAS the Insured by a proposal and declaration which is the basis of and is deemed to be incorporated within this contract has applied to HL ASSURANCE PTE LTD (hereinafter called “the Insurer’) for insurance contained in this Policy and has paid or agread to pay the premium as consideration for such insurance. NOW THIS POLICY OF INSURANCE WITNESSETH that, subject to the Insured having paid to the Insurer the premium mentioned in the Schedule and subject o the terms, exclusions, provisions and condiions contained herein fr endorsed hereon ‘THE INSURER HEREBY AGREES with the Insured that if at any time during the period of insurance stated in the: ‘Schedule or during any subsequent period for which the Insured pays and the Insurer may accept the premium for the renewal ofthis Policy, the items (or any parts thereof stated in the Schedule, whilst onthe premises mentioned therein, suffer any unforeseen and sudden physical loss or damage from causes such as defects in casting and material, faulty design, faults at workshop or in erection, bad workmanship, lack of sl, carelessness, shortage of ‘water in boilers, physical explosion, tearing apart on account of centrifugal force, short circuit, storm, or from any ‘other cause not specifically excluded hereinafter, in a manner necessitating repair or replacement, THE INSURER WILL INDEMNIFY the Insured in respect of such loss or damage, as hereinafter provided, by payment in cash, replacement or repair (at the Insurer's option) up to an amount not exoseding in any one year of insurance in respect af each ofthe items specified inthe Schadule the sum set opposite thereto and not exceeding in all the total sum expressed in the Schedule as insured hereby. ‘This Policy shall apply to the tems stated in the Schedule after successful completion of their performance ‘acceptance tests whether they are at work or at rest, or belng dismantled fo the purpose of cleaning or overhauling, fF in the course of the aforesaid operations themselves, or whan being shifted within the premises, or during subsequent re-erection APPLICABLE LAW ‘This contract of insurance is gavamed by and is to be construed in accordance with the laws of the Republic of Singapore. The court of competent jurisdiction in the Republic of Singapore shall have the exclusive jurisdiction over, all matters relating to the construction, vality and performance ofthis contract of insurance, JURISDICTION Notwithstanding anything stated herein to the contrary, the indemnity provided by this Policy shall not apply in respect of judgments which are not in the frst instance delivered by or obtained from a court of competent jurisdiction within the Republic of Singapore, Mlaysia and Brunei nor to orders obtained in the said court for the enforcement of Judgments made outside the Republic of Singapore, Malaysia and Brunel whether by way of reciprocal agreements or otherwise aott4o4 ge 4 HL Assurance Pte, td. ene ea op 41 Keppel Rood, 011-01 AB Plas, Singapore 0£9057 Te: 6S 6922 6030 Fax: 6 6221 3782_wn/csr syn 20K sy wwchlascomsg EXCLUSIONS: ‘The Insurer shall not be Fable for 1 10. ‘The deductible stated in the Schedule to be bome by the Insured in any one occurrence: f more than one item is lost or damaged in one acourrence, the Insured shall nat, however, be called upon to bear more than the highest single deductible applicable to such items loss or damage due to (2) testing involving the imposition of abnormal conditions overloading or experiments (©) faults oF defects existing at the time of commencement ofthis Policy within the knowledge of the Insured or his representatives, whether such faulis or defects were known tothe Insurer or not (©) any process of heat treatment welding grinding cuting dling shaping or the application of tots to the items stated in the Schedule other than forthe purpose of iftag of moving it loss or damage to exchangeable tools, eg, dies, moulds, engraved cylinders, parts which by their use andior nature suffer a high rate of wear or depreciation, e., refractory inings, crushing hammers, objects, made of glass, bets, ropes, wires, rubber tyres, operating media, e.g lubricants, fuels, catalysts Joss of damage dus to fie, direct lightning, chemical explosion (except fuel gas explosions in boilers), ‘extinguishing of a fire or subsequent demolition, aircraft or other aerial devices or articles dropped therefrom, theft, burglary or attempts thereat, collapse of buildings, flood, inundation, earthquake, subsidence, landslide, avalanche, hurricane, cyclone, volcanic erupion or similar natural catastrophes Joss or damage caused by any faults or defects existing atthe time of commencement ofthis Polloy within the knowledge of the Insured or his representatives, whether such faults or defects were known to the Insurer oF not loss or damage caused by loss or damage arising out ofthe will actor gross negligence of the Insured or his representatives ‘any legal ibility of whatsoever nature ()Girecty oF indirect caused by oF contributed by or arising fiom any consequence of war, invasion, act of foreign enemy, hostlitias (whether war be declared or not), civil war, rebelion, revolution, insurrection, mutiny, rot, strike, lock-out, civil commotion, mitary or usurped power, acts of a group ‘of malicious persons or persons acting on behalf of or in connection with any political organization, ‘conspiracy, confiscation, commandeering, requisition or destruction of or damage to property by order of any government de jure or de facta by any public authoity (any consequence of a nuclear reaction, nuclear radiation or racioactive contamination Joss or damage as @ direct consequence of the continual infusnce of operation (e.g wear and tear, ‘cavitation, erosion, corrosion, rust, bller scale) consequential loss or labilty of any kind or description, any payments over and above the indemnity for ‘material damage as provided herein Joss of andor damage to the terms sat out in the Schedule which may be stored in or mounted upon any ‘vessel craft of thing made to or inlended to float or travel through water and ail director indirect underwater sctivites. Magrt40e Page 2 PROVISIONS ‘Momo 1 ~ Sum Insured It shall be @ requirement of this Policy that the sum insured is equal to the cast of replacement ofthe items stated in ‘the Schedule by new machinery of the same specification and performance when purchased as an individual iter Including freight charges, erection costs, customs dues and taxes. If any item shail atthe time of any loss or damage be of a greater value as calculated above than the sum insured for ‘each item, then the Insured shall be considered as being his own insurer for the difference and shall bear a proportionate of the loss accordingly Memo 2 ~ Basis of Indemnity ‘a, In cases where damage to an iter stated in the Schedule can be repaired ~ the Insurer shall pay expenses necessarily incurred to restore the said damaged item to its former state of serviceability plus the cost of

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