oQS 66-Jeffrey Halim

oo oo oo oo
QUOTATION SLIP
QS/0000066/BAE02/08/23
TYPE PROPERTY ALL RISK INSURANCE including Earthquake, Volcanic

Eruption and Tsunami
WORDING  Munich Re Form

 Riot, Strike, Mallcious Damage, Civil Commotion (RSMDCC
4.18/2007)
 Typhoon, Storm, Flood and Water Damage (4.3A)
 Earthquake, Volcanic Eruption, Fire and Explosion following
Earthquake and/or Volcanic Eruption & Tsunami
THE INSURED Mr. Jeffrey Halim including any subsidiary and/or related company
of the unnamed of this existing at the commencement of this
insurance or formed, purchased or otherwise acquired during the
currency of the Policy for their respective rights and interest.
It is also agreed and declared that the named Insured includes the
interest of any joint venture where Mr. Jeffrey Halim accepted
obligation to insure.
CODE / OCCUPATION Apartments/ condominiums, offices, multi-storeyed car parks not

exceeding 6 storeys above ground level (2971)
RISK LOCATION Jl. Otto Iskandardinata No. 447 – Bandung
COVERAGE All Risks of physical loss or damage to the Insured property from any
cause not excluded in the Policy. It is hereby noted and agreed that
items excluded are amended to include all items which particularly
expressed in the Schedule under "INTEREST INSURED"
PERIOD OF COVER 11 Oktober 2023 - 11 Oktober 2024

(both days are inclusive at 12.00 noon local time)
DAYS 366 Days
TOTAL SUM INSURED Material Damage = IDR 5.300.000.000

Total = IDR 5.300.000.000
INTEREST INSURED MATERIAL DAMAGE

All Real and Personal Property of any kind, nature and/or
Description including but not limited to
A. BUILDINGS
The Building (including foundation) on the described premises
including :
a. Landlord's fixtures and fittings,
b. Fire and security protection installation,
c. Telephone, gas, water and electric instruments, meters,
pipings, cabling and the like and accessories thereof including
similar property in adjoining yards or roadways or underground
(to the building or buildings or contents insured by the respective
items of this specification) all the property of the Insured or of
supplier or others for which the Insured is responsible (all to be
within the Insured's premises),
d. Plumbing, ventilation, flag poles, awnings, signs, doors and
windows, display, cabinets and similar structure of whatsoever
description,
e. Site improvements scaled areas, car parks, paths and the like
MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

OJK SIUP # KEP-8019/MD/D1986 & Member of APPARINDO # 005-1986
oo oo oo oo
which partly or wholly serves to supply the described premises,

f. Drainage, culvert, driveways, pavement, roads, runways
(include helipad), railway lines, dams, reservoirs, surface water,
underground water, canals, rigs, wells, pipelines, cables, tunnels,
bridges docks, piers, wharves within premises.
g. Walls, gates and fences around and pertaining to described
premises,
h. Decoration and other exterior fixtures and fittings.
i. All of spare components / parts store in the premises
Sum Insured: Rp. 5.000.000.000,-
B. CONTENTS (Incl. Office Contents) & INVENTORY

On all Contents and equipment of all type and description, air
conditioners, fire fighting equipments, compressors, decoration,
and other interior fixtures and fittings, computers and any other
electronic equipments and their accessories including but not
limited to furniture, filling cabinets, electric and non electric
typewriter, telephone, telex, PABX, parabolic antenna and
facsimile machinery, indoor sport and fitness equipment and all
others accessories of every type and description attached thereto
as the property of the insured or held by them in trust for which
the insured are responsible
Sum Insured: Rp. 300.000.000,-
Total Sum Insured: Rp. 5.300.000.000,-
ADDITIONAL COVERAGES : The following items are included with First Loss Limit IDR 250.000.000
Construction/Erection/Alteration/RepairRp. 2.500.000.000,- in
● Works exclude ALOP/BI/CPME the aggregate
IDR 100.000.000
● Cash In Safe Rp. 250.000.000,- any
one occurrence /
location
BASIS OF LOSS SETTLEMENT Reinstatement/Replacement Basis (Including Earthquake Perils)
DEDUCTIBLES: any one 1 Fire, Lightning, Explosion, Aircraft Damage, Smoke, Impact by
occurrence/location Vehicle - NIL.
2 Riot, Strike, Malicious Damage and Civil Commotion (RSMD
4.1B/2007) - 5% of Loss minimum Rp. 5.000.000,- anyone
occurrence
3 Earthquake, Volcanic Eruption & Tsunami (within 72 hours) -
2,5% of Total Sum Insured anyone occurrence
4 Flood, Windstorm, Typhoon, Water Damage, Landslide, Landslip,
and subsidence - 10% of loss anyone occurence
5 All other causes - Rp. 1.000.000,- anyone occurrence
EXTENTION CLAUSE: (per Material Damage

location)  Average Relief Clause (80%) 85%
 All Other Contents Clause (Rp. 50.000.000,- per item and
Rp. 500.000.000,- in aggregate)
 Alteration and Repair Clause

oo oo oo oo
 Appraisement Clause (limit 10% of Total Sum Insured)

 Architecs, etc. Fees Clauses (Limit 10% of Sum Insured)
 Automobile Clause
 Awning, Blinds and Signs Clause (Sub-limit Rp.
250.000.000,- any one occurrence)
 Bankers Clause (If Any)
 Automatic Reinstatement of Sum Insured Clause - subject to
additional premium
 Boiler Explosion Clause
 Broad Pair and Set Clause
 Breach of Warranty Clause
 Burst of Pipes Endorsement
 Capital Addition Clause (10% of Sum Insured)
 Civil Authorities Clause
 Claim Mitigation and Preventive Measure Clause (limit Rp.
IDR 500.000.000 2.500.000.000,- anyone occurrence and Rp. 5.000.000.000,-
in aggregate)
 Constructive Total Loss (85%)
 Cost of Clearing Drains (within radius 500 meters of the
origin damage point within Insured's premises - limit Rp.
IDR 500.000.000 2.500.000.000,- any one loss)
 Cost of Temporary Protection Clause (sub-limit Rp.
250.000.000,- per anyone loss)
 Computer Records Clause
 Debris Removal Clause (Sub Limit 10% of Total Sum Insured)
 Designation Clause
 Directors, Employees, and Guests Personal Effects Extension
(limit Rp. 50.000.000,- any one loss and Rp. 500.000.000,-
in the aggregate)
 Defunct Spare Clause (Rp. 250.000.000,-)
 Duties Clause
 Electrical Short Circuit (Sub limit Rp. 500.000.000,- any one
occurrence and in the aggregate)
 Escalation Clause (10%)
 Expediting Expenses Clause (25% of loss any one
occurrence)
 Fire Brigade Charges Clause (Limit Rp. 250.000.000,- any
one occurrence)
 Fire Extinguishing Clause (Limit Rp. 250.000.000,- any one
occurrence)
 Floor Space Ratio Index
 General Interest Clause
 Impact by own vehicle Clause
 Internal Removal Clause
 Interpretation Clause
 Landscaping Clause (limit Rp. 1.000.000.000,- in the
aggregate)
 Landslide, Landslip and Subsidence Clause
 Leased Property Clause
 Loading and Unloading Clause
 Lock and Keys Clause (Limit Rp. 100.000.000,- any one
occurrence)
 Machinery Breakdown Exclusion Clarification Clause
 Metered Gas Extension (limit Rp. 2.500.000.000,- anyone
occurrence)
 Minor Alteration and Repair Clause

oo oo oo oo
 New Location Clause (Rp. 5.000.000.000,- subject to first

class construction and within 60 days declaration)
 Notification Clause
 Outbuilding Clause
 Public Authorities Clause
 Premises Clause
 Reinstatement Value Clause (This particular Clause attached
and applied to Earthquake Policy only - Maximum 24
months Reinstatement Period from the date of Loss)
 Recoveries Clause
 Removal Permit Clause (30 days)
 Single Loss Deductible Clause
 Sprinkler Leakage Clause (If any)
 Structural Alteration and Repair Clause
 Services Clause
 Sue and Labor Clause
 Tenants Improvement Clause
 Tenants Privilege Granted Clause
 Temporary Removal Clause
 Vehicle Load Clause (Maximum limit Rp. 1.000.000.000,-)
 Waiver of Subrogation Clause against subsidiaries only
 Workmen's Clause
APPLIED TO ALL CLASS OF INSURANCE AND ALL SECTION

 Biological or Chemical Material Exclusion Clause NMA 2962
 Claims Preparation Costs Clause (20% any one claim
amount)
 Cost of Re-writing Record
 Currency Clause
 Dispute Clause
 Error and Omission Clause
 Electronic Data Recognition Clause
 Electronic Data Processing Media Valuation
 Institute Radioactive Contamination Exclusion
 Industries, Seepage, Pollution and Contamination Exclusion
Clause
 Loss Notification Clause (30 days)
 Memorandum of Dispute Clause
 Mis-description Clause
 Nominated Adjusters Clause
 Non Invalidation Clause
 Payment on Account Clause (30%)
 Plans & Documents Clause (limit 20% anyone claim amount
per occurrence)
 Political Risk Exclusion
 Pro rata refund premium clause (For what so ever causes)
 Riot, Strike, Malicious Damage, Civil Commotion
Endorsement (RSMD 4.1B/2007)
 Sanction Limitation and Exclusion Clause
 Special Property Under Construction Clause
 Terrorism Exclusion Clause
 Thirty (30) days cancellation notice clause (except 3 days for
RSMD 4.1B/2007 and 5 days for Earthquake Policy)
 Typhoon, Storm, Flood & Water Damage Endorsement 4.3A
 72 Hours Time Adjustment Clause (for Earthquake, Tsunami
& Volcanic Eruption & 4.3A Endorsement)

oo oo oo oo
 Overhead, Transmission and Distribution Line Exclusion

Clause
 War and Civil War Exclusion
 War and Terrorism Exclusion
 Display and Exhibition Clause (Limit Rp. 1.000.000.000,-
maximum 30 days / event within Indonesia territory)
ANNUAL RATE OJK

FLEXAS (2971) 0,03680%
FWTWD 0,05000%
RSMDCC + OTHERS 0,00001%
EQVET (Zone – V) 0,19000%
BROKERAGE 15% (+10% VAT)
Tanggal:
Bandung, 08-September-2023
( NUR TJAHYADI ) ( R HENDRA ) ( R HENDRA )

KURNIANTO KURNIANTO
Account Executive Pialang Asuransi Tenaga Ahli
INSURANCE ACCEPTANCE CONFIRMATION
Quotation Slip No. : QS/0000066/BAE02/08/23
Insured's Name : Mr. Jeffrey Halim
Class of Insurance : PAR including earthquake
Period of Insurance : 11 Oktober 2023 - 11 Oktober 2024

(both days are inclusive at 12.00 noon local time)
Date/Signed :
Company :
Sign :
Comments :

oo oo oo oo
EXTENTION CLAUSE: (per location)
Section I - Material Damage
 Average Relief Clause (80%)

Each item insured under this memorandum is declared to be separately subject to the following condition
of average, namely:
If at the time of reinstatement the sum representing eighty (80) percent of the cost which would have been
incurred in reinstatement if the whole of the property covered by such item had been destroyed the
commencement of any destruction of or damage to such property by any other peril hereby insured against,
then the Insured shall be considered as being his own insurer for the difference between the sum insured
and the sum representing the cost of reinstatement of the whole of the property and shall bear a rateable
proportion of the loss accordingly.
 All Other Contents Clause (Rp. 50.000.000,- per item and Rp. 500.000.000,- in aggregate)
It is noted and agreed that this Policy extends to include
a. Money and stamps not otherwise specifically insured for an amount not exceeding in the aggregate as
stated in the policy schedule
b. Documents, manuscripts and business books but only for the value of the materials as stationery,
together with the cost of clerical labour expended in writing up, and not for the value to the insured of the
information contained therein and for an amount not exceeding in the aggregate as stated in the policy
schedule
c. Computer system records but only for the value of the materials together with the cost of clerical labour
and computer time expended in reproducing such records (excluding any expenses in connection with the
production of information to be recorded therein) and not for the value to the insured of the information
contained therein for an amount not exceeding in the aggregate as stated in the policy schedule
d. Patterns, moulds, models, plans and designs, for an amount not exceeding in the aggregate as stated in
the policy schedule
e. Employees pedal cycles, clothing, tools and other personal effects for an amount not exceeding as stated
in the policy schedule in respect of any one employee.
 Alteration and Repair Clause

The insurance by this policy shall not be prejudiced by:
a) Any act or omission unknown to or beyond the control of the insured on the part of any tenant occupying
or using the premises;
b) Any alteration of occupancy due to transfer of processes or machinery in the premises;
c) Structural alterations and/or repairs, limited to buildings, machinery and plant;
d) Temporary unoccupancy of the premises, referred to herein for periods in excess of 30 (thirty) days.
It is understood that notice will be given to the insurers by the insured of any happening coming to their
knowledge within 30(thirty) days.
 Appraisement Clause (limit 10% of Total Sum Insured)

If the aggregate claim for any one loss does not exceed ten percent (10%) of the sum insured by the item or
items affected (whichever may be the less) no special inventory or appraisement of the undamaged property
shall be required.
If two or more buildings be included in a single item, this provision shall apply to the range of buildings
insured by this item
For the purpose of this clause, the term "item" shall be held to the total sum insured on buildings and/or
contents by the items affected.
 Architecs, etc. Fees Clauses (Limit 10% of Sum Insured)

It is hereby noted and agreed as follows
(a) The insurance of each item on Buildings or Contents includes an amount in respect of Architects'
Surveyors' Legal and Consulting Engineers' Fees not exceeding those provided under the scales of the
various institutions and/or bodies regulating such fees prevailing at the time of the destruction or damage
and not exceeding 10 % of the individual sums insured.
(b) The insurance on Fees applies only to those necessarily and reasonably incurred in the reinstatement

oo oo oo oo
or repair of Property Insured consequent upon its destruction or damage but not for preparing any claim, it
being understood that the amount payable under the item shall not exceed in total its sum insured.
The Company's Liability shall not exceed of Total Sum Insured stated in the Schedule of the Policy.
 Automobile Clause
The housing of automobiles is allowed, and it is warranted that no inflammable spirit intended for fuel in
connection therewith be at any time in the portion of the building under the control of the insured, other
than contained in the reservoirs of such automobiles or in approved underground storage systems or in
sealed metal containers.
 Awning, Blinds and Signs Clause (Sub-limit Rp. 250.000.000,- any one occurrence)
Awnings, blinds, signs or other outdoor fixtures or fittings of any description are covered by this Policy
provided that the Insurer's liability under this extension shall be on first loss basis, not in the aggregate to
exceed Rp. 250.000.000,- any one occurrence.
 Bankers Clause (If Any)

It is hereby noted and agreed that the property insured by this Policy has been mortgaged with the bank (If
Any)
And that in consequence thereof, it has been agreed with the said mortgagee and the Insured, that in case
of loss, if any, payable under this Policy up to 10% of Total Sum Insured hereunder shall be payable to the
insured(s) and claim more than 10% 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 on receipt of advice from the said mortgagee that they are no longer interested
in the property insured under this policy.
 Automatic Reinstatement of Sum Insured Clause - subject to additional premium

It is hereby agreed that in the event of loss covered by the Policy and in the absence of written notice by the
Insured to the contrary, the Insurer agrees to reinstate the amount of insurance reduced by loss, from the
commencement of the reinstatement, replacement or repair of the loss, destroyed or damage property until
expiry of this insurance subject to :
The Insured notifying the Insurer as soon as practicable of such reinstatement.
The Insured paying the additional premium calculated at prorate of the appropriate rate from the date of
attachment of such reinstatement to the expiry of the insurance.
The Insurer`s limit liability shall not exceed the sum insured that were inforce immediately before the loss.
 Boiler Explosion Clause

It is hereby noted and agreed that this policy is extended to cover loss of damage to property and/or interest
directly caused by explosion arising from boiler insured in this policy, if any.
Explosion in this Policy is deemed to mean any sudden release of energy resulting from the expansion of
gases or vapour.
The bursting of a container (boiler, pipe etc.) is considered as an explosion if the walls of the container are
torn open to such extent that a sudden equilibrium of the pressure inside and outside the container takes
place.
If an explosion occurs inside a container in consequence of a chemical reaction, any damage to the container
is indemnifiable even if the walls of the container are not torn open.
Loss or damage caused by implosion is not covered by this Policy.
Loss of or damage to combustion engine resulting from the explosion taking place within the combustion
chambers or explosion of any part of electrical switches arising from gas pressure is not covered.
If explosion is also covered by more specific policy, the Insurer shall only indemnify the remaining loss from
the amount which should be payable under such other policy as if this Policy does not exist.
 Broad Pair and Set Clause

It is hereby noted and agreed that in case of loss destruction or damage to part of a pair or set, the Insurer
will pay the full amount of the pair or set, provided the Insured agree to surrender the remaining articles of
the pair or set to the Insurer.
 Breach of Warranty Clause

oo oo oo oo
The conditions and warranties of this policy shall apply individually to each of the risks insured and not
collectively to them. Thus a breach in any condition or warranty shall void the section only in respect of all
the risks to which that breach applied and does not affect the section in respect of the other risks.
 Burst of Pipes Endorsement

The insurance under this policy shall extend to include loss or damage to the property insured directly by
bursting or overflowing of water tanks apparatus or pipes
 Capital Addition Clause (10% of Sum Insured)

The insurance hereby extends to cover alterations, additions and improvements (but not appreciation in
value) in excess of the sums insured for buildings and machinery specified in the Policy for an amount not
exceeding 10 % of the sums insured, it being understood that the Insured undertakes to advise the Insurer
each quarter of such alterations, additions and improvements and to pay the appropriate additional
premium thereon.
 Civil Authorities Clause

The insurance is extended to cover direct loss or damage to the described property caused by acts of
destruction executed by order of any Public Authority at the time of and only during a conflagration to retard
the spread thereof, and subject to all other terms and conditions of this Policy. This Insurer shall not be
liable, however, for more than the amount for which it would have been liable had the loss been caused by
a peril insured against under this Policy.
 Claim Mitigation and Preventive Measure Clause (limit Rp. 2.500.000.000,- anyone occurrence and
Rp. 5.000.000.000,- in aggregate)
It is hereby agreed that in the event of actual damage (or imminent damage) to the insured property, the
Insurer will pay the reasonably costs necessary in preventing, minimizing or reducing damage to the insured
property including the cost to rent the temporary premises to minimise loss.
The Insured will prove the costs were necessarily incurred immediately and urgently in an emergency.
 Constructive Total Loss (85%)

In the event the insured item is damaged due to a peril covered by this policy and as a direct result the total
agreed repair cost such equipment based upon repair estimated approved by the Company equals or exceed
85% of its actual used market value at the time of the occurrence, such damage shall be considered a Total
Loss and the Company's Liability under this Policy shall be as specified in the schedule of the policy but in
no case shall exceed the sum insured stated in the schedule.
 Cost of Clearing Drains (within radius 500 meters of the origin damage point within Insured's
premises - limit Rp. 2.500.000.000,- any one loss)
Subject to the liability of the Insurer(s) not being increased beyond the Limit(s) of Liability already stated
herein, the Insurer(s) will also indemnify the Insured for costs of clearance of drains including expenses
necessarily incurred in clearing and/or repairing drains, gutters, sewers and the like, at or in the vicinity of
Property Insured, consequent upon damage recoverable hereunder
 Cost of Temporary Protection Clause (sub-limit Rp. 250.000.000,- per anyone loss)
To the extent not already insured this policy hereby extends to cover the cost of temporary protection
reasonably necessary for the safety and protection of the premises pending repairs/replacement of damage.
Limited to the amount provided in the Sub-limit in the Schedule.
 Computer Records Clause

This insurance includes cover for computer system records but only for the value of the materials together
with the cost of clerical labour and computer time expended in reproducing such records (excluding any
expenses in connection with the production of information to be recorded therein) and not for the value to
the Insured of the information contained therein for an amount not exceeding in the aggregate
 Debris Removal Clause (Sub Limit 10% of Total Sum Insured)

It is hereby agreed that subject to additional premium to be paid, this insurance is extended to indemnify
the Insured in respect of the cost of removal of debris, demolition and any temporary repairs necessary

oo oo oo oo
(including the insured's legal liability for the cost of removal of debris, demolition, and temporary repairs in
regard to adjoining premises, roadways or waterways as well as on the site), consequent upon the destruction
of or damage to any property insured by this Policy occasioned by any peril thereby insured against. Provided
always that :
a. Such cost is not recoverable under any other insurance;
b. The indemnity afforded by this insurance shall not apply to or include liability assumed by the Insured
under agreement entered into after the commencing date of this insurance, unless such liability would have
attached to the Insured in the absence of such agreement.
 Designation Clause
For the purpose of determining, where necessary, the definition of any property insured hereby the Insurer
agrees to accept the designation under which such property has been entered in the Insured's books.
 Directors, Employees, and Guests Personal Effects Extension (limit Rp. 50.000.000,- any one loss
and Rp. 500.000.000,- in the aggregate)
The indemnity granted by this Policy extends to include clothing and/or personal effects of the directors,
employees and guests of the insured for an amount limit Rp. 50.000.000,- any one loss.
 Defunct Spare Clause (Rp. 250.000.000,-)

It is noted and agreed that in the event of spares currently insured hereunder and represented within the
total sum insured under the Policy becoming obsolete following an indemnifiable loss to the unit and/or
units to which they belong, such spare parts shall also be deemed a constructive total loss provided always
that such parts cannot be used as spares for any other units within the premises of the Insured. Insurers
retain salvage rights over such parts.
 Duties Clause
The Insurer will also reimburse the Insured for customs and excise duties, import taxes, VAT/GST, freight,
insurance and similar charges in respect of the procurement / manufacturing of goods, materials and
services for replacement, restoration or re-commissioning. The application of the clause is subject to the
compliance with the tax regulation in Indonesia.
 Electrical Short Circuit (Sub limit Rp. 500.000.000,- any one occurrence and in the aggregate)
It is hereby noted and agreed that this insurance shall cover physical damage to any one unit of electrical
or electronic equipment, except electrical or electronic equipment used for household purposes, stated in
the Schedule, caused by short circuit on such electrical or electronic equipment.
This extended cover shall not be applicable if the risk has been covered under more specific insurance
 Escalation Clause (10%)

In consideration of the payment of an additional premium amounting to 10 % of the premium produced by
applying the specified percentage to the first or the annual premium as appropriate on the item(s) as specified
in schedule the sum insured thereby shall, during the period of insurance, be increased each day an amount
representing 1/365th of the specified percentage increased per annum.
Unless specifically agreed to the contrary the provision of this clause shall only apply to the sums insured
in force at the commencement of each period of insurance.
At each renewal date the insured shall notify the insured:
1. The sums to be insured under each item above, but in the absence of such instructions the sum insured
by the above items shall be stated on the policy (as amended by any endorsements effective prior to the
aforesaid renewal date) to which shall be added the increases which have occurred under this clause during
the period of insurance up to that renewal date, and
2. The specified percentage increase (s) required for the forthcoming period of insurance, but in the absence
of instructions to the contrary prior to renewal date the existing percentage increase shall apply for the
period of insurance from renewal.
All the conditions of the policy except insofar as they may be hereby expressly varied shall apply as if they
had been incorporated herein.
 Expediting Expenses Clause (25% of loss any one occurrence)

oo oo oo oo
In the event of loss or damage to the property insured or any part thereof the cost of any repair, replacement
or rectification admitted under this policy shall include the additional costs not exceeding 25% of loss any
one occurrence of overtime weekend and shift working, bonus payments, plant hire charges, express
delivery, including airfreight and the like necessarily and reasonably incurred in expediting such repair,
replacement or rectification but excluding any such costs solely to expedite the completion of any
construction, erection or installation of property not loss or damage at a faster rate than would have been
obtained had no such loss or damage occur.
 Fire Brigade Charges Clause (Limit Rp. 250.000.000,- any one occurrence)
It is hereby understood and agreed that the charges raised by any local authority for the provision of Fire
Fighting Appliances called for the purpose of protecting the premises shall be recoverable hereunder.
 Fire Extinguishing Clause (Limit Rp. 250.000.000,- any one occurrence)

This policy is extended to cover loss of or damage to fire extinguishing appliances caused by the insured
perils.
This extension is deemed to include the cost of reasonably incurred for refilling the fire extinguishing
appliances providing always that such cost is incurred as a direct result of the use of the fire extinguishing
appliances for the extinguishments of fire endangering the safety of the insured property
 Floor Space Ratio Index

Subject to the terms and conditions of this Policy in the event of any building being damaged so as to
constitute total loss or constructive total loss and as a result of the exercise of Statutory powers and/or
authority by any Government Departments Local Government or any other Statutory Authorities
reinstatement of such building as before is prohibited and reinstatement is only permissible subject to a
reduced floor space ratio index:
The insurers agree to pay in addition to any amount payable on reinstatement of such building the difference
between
a. The actual cost of reinstatement incurred in accordance with the reduced floor space ratio index; and
b. The cost of reinstatement which would have been incurred had a reduced floor space ratio index no been
applicable
In arriving at the amount payable under(a) and (b) above any payments made by the Insurers shall include
the extra cost of reinstatement including demolition or dismantling of the Property Insured necessarily
incurred to comply with the requirements of any Act of Parliament or Regulation made thereunder or any
Bye-law or Regulation of any Municipal or other Statutory Authority.
 General Interest Clause

Certain of the Property insured may be the subject of hire purchase lease or other agreements and the
interest or the other parties to these arrangements is noted in this insurance the nature and extent of such
interest to be disclosed in the event or damage.
 Impact by own vehicle Clause

It is noted and agreed that the cover relating to impact of vehicles shall include vehicles owned or used by
the Insured.
 Internal Removal Clause

It is understood and agreed that in the event of removal of property from one building to another at any of
the situations covered by this Policy being inadvertently not advised to the Insurer, the insurance on such
property shall follow removal, the necessary adjustments in Sum Insured and premium being made as from
the date of removal as soon as the oversight is discovered.
Provided however that the liability of the Insurer shall not exceed the Sum Insured hereunder.
 Interpretation Clause
In the event of any conflict of interpretation between the various clauses and conditions contained in this
policy, the broadest and least restrictive wording to the benefit of the insured shall always prevail.
Notwithstanding the above, this insurance shall not be affected by the failure of the insured to comply with

oo oo oo oo
laws, statues or jurisdiction which would otherwise have been a bar to any claim in respect of loss,
destruction or damage.
 Landscaping Clause (limit Rp. 1.000.000.000,- in the aggregate)

This Policy is extended to include landscaping, which term shall mean lawns, gardens, ornamental plants
shrubs and trees. The Insurer's liability for any one loss or series of losses arising out of any original source
or cause at any one situation shall not exceed the Sub-Limit of Liability stated in the Schedule against
"Landscaping" if any.
 Landslide, Landslip and Subsidence Clause

Notwithstanding anything stated in the policy to the contrary and subject to special condition below, the
policy shall extend to include loss or damage to the property insured directly caused by landslip and/or
subsidence whether caused by flood or otherwise.
Provided always that all the conditions of the policy, except insofar as they may be hereby expressly varied,
shall apply as if they had been incorporated herein and for the purpose hereof any loss or damage as
aforesaid shall be deemed to be loss or damage by fire.
Special condition:
1. the liability of the company shall in no case under this endorsement exceed the sum insured each item
of the policy;
2. the property shall be maintained in reasonable state of repair;
3. the insurance under this endorsement does not cover
a. the cost of repairing, cleaning or making good drains of water courses
b. consequential loss of any description
c. loss or damage caused by earthquake.
The insured shall bear the first amount of ............ in respect of each and every claim.
 Leased Property Clause

This Policy extends to indemnify any other party having an interest in the property insured by virtue of and
in accordance with the terms of mortgage, Leasing, Hiring or Renting Agreement, provided such property is
not more specifically insured.
 Loading and Unloading Clause

Notwithstanding anything contained herein to the contrary, it is hereby understood and agreed that this
insurance is extended to cover loss or damage to the goods during loading and unloading within the insured
premises noted in the Policy schedule.
 Lock and Keys Clause (Limit Rp. 100.000.000,- any one occurrence)
It is hereby agreed that this insurance extends to include the cost of replacing locks and keys and/or
combinations if, as a result of theft or any attempt thereat, keys and/or combination are stolen, or if there
are any reasonable grounds to believe that they have been duplicated, also the cost of opening locked safes
or strong rooms as a result of theft of keys and/or combinations.
 Machinery Breakdown Exclusion Clarification Clause

It is hereby declared and agreed that the Insurer will indemnify the Insured for any one loss or damage to
the property insured caused directly by any circumstances not excluded under section 1 of the policy
notwithstanding that these circumstances may in turn have been caused by any of the circumstances
referred to in exclusion 2.4 of the policy.
All other terms and conditions of the policy remain unchanged.
 Metered Gas Extension (limit Rp. 2.500.000.000,- anyone occurrence)

It is noted and agreed that the Policy is also extended to cover loss of metered gas for which the Insured is
responsible following its escape by sudden, unforeseen and accidental damage / loss from any pipe or
installation subject to a limit and deductible as specified in the Schedule
 Minor Alteration and Repair Clause

oo oo oo oo
Minor alterations, additions and repairs to building plant fixtures and fittings, and machinery (exclusive of
any Sprinkler Installations) and minor works in progress are allowed and this shall not prejudice the
insurance by this Policy.
 New Location Clause (Rp. 5.000.000.000,- subject to first class construction and within 60 days
declaration)
It is hereby declared and agreed that the Company will hold cover any new locations acquired by the Insured
during the period of Insurance subject to not exceeding of Rp. 5.000.000.000,- any one location within the
policy period
The Insured shall declare to the Company not later than 60 days from date of acquire and additional
premium shall be charged accordingly.
 Notification Clause
It is hereby noted and agreed that the present situation, manner of connection, construction, nature and
interior of the buildings and also the trade carried on therein, is known to Insurers.
 Outbuilding Clause
The insurance by each item under buildings is understood to include walls, gates and fences, small outside
buildings, extensions, annexes, exterior staircase, fuel installations, steel or iron framework and tanks in
the said premises and the insurance by each item under contents extends to contents of each outbuilding,
provided their values are included in the sum insured.
 Public Authorities Clause

The insurance by this Policy extends to include such additional cost of reinstatement of the destroyed or
damaged property thereby insured as may be incurred solely by reason of the necessity to comply with
Building or other Regulations under or framed in pursuance of any Government Act or Bye-Law of any
Municipal or Local Authority provided that :
1. The amount recoverable under this Extension shall not include:
a. the cost incurred in complying with any of the aforesaid Regulations or Bye-Laws
i) In respect of destruction or damage occurring prior to the granting of this Extension
ii) In respect of destruction or damage not insured by the Policy
iii) Under which notice has been served upon the Insured prior to the happening of the destruction or damage
iv) In respect of undamaged property or undamaged portions of property.
b. the additional cost that would have been required to make good the property damaged or destroyed to a
condition equal to its condition when new had the necessity to comply with any of the aforesaid Regulations
or Bye-Laws not arisen.
c. the amount of any rate, tax, duty, development or other charge or assessment, arising out of capital
appreciation which may be payable in respect of the property or by the owner thereof by reason of compliance
with any of the aforesaid Regulations or Bye-Laws.
2. The work of reinstatement must be commenced and carried out with reasonable dispatch and in any case
must be completed within twelve months after the destruction or damage or within such further time as the
Insurer may (during the said twelve months) in writing allow and may be carried out wholly or partially upon
another site (if the aforesaid Regulations or Bye-Laws so necessitate) subject to the liability of the Insurer
under this Extension not being thereby increased.
3. If the liability of the Insurer under (any item of) the Policy apart from this Extension shall be reduced by
the application of any of the terms and conditions of the Policy then the Liability of the Insurer under this
Extension (in respect of any such item) shall be reduced in like proportion.
4. The total amount recoverable under any item of the Policy shall not exceed the sum insured thereby.
5. All the conditions of the Policy except insofar as they may be hereby expressly varied shall apply as if they
had been incorporated herein.
 Premises Clause
Extends to cover property whilst on platform, alleys, yards, buildings and in the open within the compound
provided that the insured have done all that are necessary to prevent a loss from happening which should
be precedent to liability to the company.

oo oo oo oo
 Reinstatement Value Clause (This particular Clause attached and applied to Earthquake Policy only
- Maximum 24 months Reinstatement Period from the date of Loss)
It is hereby declared and agreed that in the event of the property insured being destroyed or damaged the
basis upon which the amount payable under the Policy is to be calculated shall be the cost of replacing or
reinstating on the same site property of the same kind or type but not superior to or more extensive than
the insured property when new, subject to the following Special Provisions and subject also to the terms and
conditions of the Policy except insofar as the same may be varied hereby.
Special Provisions
i ) The work of replacement or reinstatement (which may be carried out upon another site and in any
manner suitable to the requirements of the Insured subject to the liability or Insurer not being thereby
increased) must be commenced and carried out with reasonable dispatch and in any case must be completed
within 24 months after the destruction or damage or within such further time as the Insurer may (during
the said 24 months) in writing allow otherwise no payment beyond the amount which would have been
payable under the Policy if this memorandum had not been incorporated therein shall be made.
ii) Until expenditure has been incurred by the Insured in replacing or reinstating the property destroyed or
damaged the Insurer shall not be liable for any payment in excess of the amount which would have been
payable under the Policy if this memorandum had not been incorporated therein.
iii) If at the time of replacement or reinstatement the sum representing the cost which would have been
incurred in replacement or reinstatement if the whole of the property covered had been destroyed exceeds
the sum insured thereon at the breaking out of any fire or at the commencement of any destruction of or
damage to such property by any other peril insured against by this Policy then the Insured shall be
considered as being his own insurer for the excess and shall bear a ratable proportion of the loss accordingly.
Each item of the Policy (if more than one) to which this memorandum applies shall be separately subject to
the foregoing provision.
iv) No payment beyond the amount which would have been payable under the Policy if this memorandum
had not been incorporated therein shall be made if at the time of any destruction or damage to any
property insured hereunder such property shall be covered by any other insurance effected by or on
behalf of the Insured which is not upon the identical basis of reinstatement set forth herein.
v) This memorandum shall be without force or effect if
(a) The Insured fails to intimate to the Insurer within 24 months from the date of destruction or damage or
such further time as the Insurer may in writing allow his intention to replace or reinstate the property
destroyed or damaged.
(b) The insured is unable or unwilling to replace or reinstate the property destroyed or damaged on the same
or another site.
 Recoveries Clause
Notwithstanding anything contained in this Policy to the contrary, if the Insured shall sustain any loss
covered by this Policy which exceeds the Sum(s) Insured, the Insured shall be entitled to all recoveries by
whomsoever made on account of such loss until fully reimbursed, and any remainder shall be applied to the
reimbursement of the Insurer.
 Removal Permit Clause (30 days)

It is hereby understood and agreed that this policy shall be extended to cover against all direct loss and/or
damage caused by the removing of property hereunder insured, from locations or premises affected by the
perils insured hereunder, and also to cover during the term of thirty (30) days, such property in any other
place where it should be necessary to move the insured property in order to preserve it from the perils
insured hereunder or to maintain it safe from the perils of the occurrence.
 Single Loss Deductible Clause

It is hereby noted and agreed that in the event of an incident giving arise to a claim, which involves more
than one property insured and such properties are situated in the same building, one deductible will only
be applied.
Furthermore, it is hereby note and agreed that if there is any other policy covering the properties of the
Insured at the location stated in this policy, then for the purpose of applying deductibles, the policies shall
be considered to be running in conjunction with each other and that only a single deductible shall be applied
in the aggregate where more than one policy are involved at the location

oo oo oo oo
 Sprinkler Leakage Clause (If any)

It is hereby agreed and declared that the insurance under the Policy shall extend to cover loss or damage to
the property insured caused by water accidentally discharged or leaking from the Automatic Sprinkler
Installation subject to First Loss sum insured (subject as per schedule) and subject to a deductible as per
schedule any one location and further subject to all the usual conditions of the Policy and the following
special conditions:
1. The liability of Insurer shall in no case under this endorsement and the Policy exceed the sum insured by
each item of the Policy.
2. It is expressly stipulated and made a condition thereof that the insured shall maintain functioning alarm
or watchman service insofar as it is under his control or supervision.
3. Further provided that such discharge or leakage of water shall not be occasioned by or happen through:
a. Repairs or alterations to the buildings or premises
b. The automatic sprinkler installation being either repaired, removed or extended
c. The order of the Government or of any municipal local or other competent Authority
d. Explosion, the blowing - up of buildings or blasting
e. Defects in construction or condition of which the Insured is aware
f. Condensation or deposits on the Automatic Sprinkler Installation
 Structural Alteration and Repair Clause

Subject to Article 3 under the conditions of the within policy, it is hereby understood that structural
alteration and extension of the buildings mentioned in this policy is allowed, as are the erection of new
buildings, installation, reinstallation, replacement of machines, tools, implements, piping or other
installations required for the process carried on, parts of installation and objects as well as to move all these
within the premises.
In case of removal or demolition of an insured object this insurance will cover the new items substituting
the removed or demolished objects up to the original amount insured.
 Services Clause
The insurance by this Policy relating to machinery and equipment extends to include telephone, gas, water
and electric instruments, meters, piping, cabling and the like and accessories thereof including similar
property in adjoining yards or roadways or underground all the property of the Insured or of suppliers or
others for which the Insured are responsible provided their values are included in the sum insured.
 Sue and Labor Clause

In case of any actual loss, it shall be lawful and necessary, for the insured, his or their factors, servants and
assigns, to sue, labor and travel for, in and about the defense, safeguard and recovery of the property covered
hereunder and part thereof without prejudice to this insurance, nor shall the acts of the insured or the
company in recovering, saving and preserving the property covered in case of loss be considered a waiver or
an acceptance of abandonment. The expenses so incurred shall be borne by the insured and the company
proportionately to the extent of their respective interests.
 Tenants Improvement Clause

The insurance by this Policy extends to include tenants improvements and alteration to Landlord's property
insofar as the Insured is responsible therefore.
 Tenants Privilege Granted Clause

It is hereby agreed that the cover provided under this Policy shall not be prejudiced from any action
undertaken by or caused by tenants of building should such actions be undertaken without the knowledge
of the Insured
 Temporary Removal Clause

It is hereby agreed and declared that subject to the exclusions and Special conditions hereinafter contained,
the Insurance under this Policy extends to cover the property, insured whilst temporarily removed from any
part of the Insured's premises to any other part of the Insured's premises described herein, or to any other
premises in Indonesia and in transit thereto and therefrom by road, rail or inland waterway, but excluding:
(a) Stock-in-trade and/or Merchandise.
(b) Motor vehicle other than Forklift Trucks and similar appliances used for hauling or conveying goods at

oo oo oo oo
the Insured's premises.

(c) Property if and so far as it is otherwise insured.
 Vehicle Load Clause (Maximum limit Rp. 1.000.000.000,-)

In the event to the insured's property being left loaded in vehicles or freight containers overnight while in,
on or about the premises hereby insured the company will indemnify the insured for the loss of or damage
to such property caused by fire or any other peril insured hereby, providing always that the company's
liability shall not exceed the sum insured of such property under the policy.
 Waiver of Subrogation Clause against subsidiaries only

Insurers hereby agree to waive all rights of subrogation which they may have and acquire against any of the
parties comprising the Insured except when such rights of subrogation are acquired in consequence of any
fraud, misrepresentation, non-disclosure or breach of condition or warranty by that Insured.
Nothing contained in this memorandum shall be deemed to increase the sum insured stated in the Schedule
of the Policy.
 Workmen's Clause
Workmen are allowed in and about any of the described premises or the purposes of making new erections
or alterations, repair, decoration, plant installation, general maintenance and the like without prejudice to
the terms and conditions of the policy.
APPLIED TO ALL CLASS OF INSURANCE AND ALL SECTION
 Biological or Chemical Material Exclusion Clause NMA 2962

It is agreed that this Insurance excludes loss, damage, cost or expense of whatsoever nature directly or
indirectly caused by, resulting from or in connection whit the actual or threatened malicious use of
pathogenic or poisonous biological or chemical materials regardless of any other cause or event contributing
concurrently or in any other sequence thereto. (NMA 2962)
 Claims Preparation Costs Clause (20% any one claim amount)

The insurance by this policy includes:
1. Such reasonable fees as may be payable by the insured to a public accountant and/or adjuster, and
2. Such reasonable expenses, excluding salaries of permanent employees, not otherwise recoverable
incurred by the insured
For preparation and establishment of admitted progress and/or final claims under the policy.
 Cost of Re-writing Record

This insurance is extended to cover costs and expenses necessarily incurred by the insured following loss
or damage to property insured :
1. to reconstruct and recompile records, but not for the value to the insured of the information contained
therein;
2. to extract and compile information required by the company from the insured's own records for the
purpose of preparing a claim under the policy but excluding legal, investigation and research fees / expenses
incurred for the purpose of contesting any issue over the company's liability under the policy.
Provided always that no amount shall be recoverable under this endorsement if subsequent to the incurring
of any expenses, the company shall deny liability for any claim in respect of which the expenses have been
incurred (with or without the company's consent).
 Currency Clause
It is hereby understood and agreed that in case a claimable loss hereunder, if any, if denominated in currency
other than the currency stated in the Policy Schedule, then the conversion rate shall be the middle rate for
bank notes published by the Bank Indonesia on the Date of Agreement between the Insurer and Insured as
to the amount of loss.
 Dispute Clause
1. In the event of any dispute arising between the Insurer and the Insured as consequence of the
interpretation of liability or amount of indemnity of this Policy, the dispute shall be settled amicably by

oo oo oo oo
the complaint handling and resolution unit of the Insurers within 60 (sixty) calendar days from the dispute
arose. The dispute arises since the Insured has expressed disagreement in writing on the subject matter of
the dispute.
2. If the dispute could not be settled amicably as provided in item 1 above, both the Insurer and the
Insured shall make statement of disagreement in writing. Then the Insured shall choose to settle the
dispute through out of the court or court settlement by selecting either one of the following dispute
settlement clauses as stated below.
A. ALTERNATIVE DISPUTE RESOLUTION BODY

It is hereby declared and agreed that the Insured and the Insurer shall settle the dispute through the
Indonesian Insurance Mediation and Arbitration Board (BMAI) subject to the terms and procedures of BMAI
or any other alternative insurance dispute resolution body which is registered in the Financial Services
Authority.
B. COURT
It is hereby declared and agreed that the Insured and the Insurer shall settle the dispute through the Court
(Pengadilan Negeri) within the territory of the Republic of Indonesia.
 Error and Omission Clause

The Insured shall not be prejudiced by an unintentional and/or inadvertent omission error or incorrect
description of the interest risk or property provided notice is given to the Company as soon as practicable
upon discovery of such error or omission.
 Electronic Data Recognition Clause

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 of 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 converted to a form useable for
communications, interpretation or processing by electronic and electromechanical data processing or
electronically controlled equipment and includes programmes, 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 or otherwise unauthorised instructions or code
including a set of maliciously introduced unauthorised instructions 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 bombs'.
b) However, in the event that a 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 peril.
Listed Perils
Fire
Explosion
 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:-

oo oo oo oo
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 from 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 the blank media.
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 assembled.
N.M.A. 2915
 Institute Radioactive Contamination Exclusion

This Clause shall be paramount and shall override anything contained in this insurance inconsistent
therewith
1. In no case shall this insurance cover loss, damage, liability or expense directly or indirectly caused by or
contributed to by or arising from :
1.1 ionising, radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear
waste or from the combustion of nuclear fuel.
1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear
installations, reactor or other nuclear assembly or nuclear component thereof
1.3 any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive
force or matter.
 Industries, Seepage, Pollution and Contamination Exclusion Clause

This contract does not cover any liability for:
Personal Injury or Bodily Injury or loss of, damage to, or loss of use of property directly or indirectly caused
by seepage, pollution or contamination, provided always that this paragraph (1) shall not apply to liability
for Personal Injury or Bodily Injury or loss of or physical damage to or destruction of tangible property, or
loss or use of such property damaged or destroyed, where such seepage, pollution or contamination is
caused by a sudden, unintended and unexpected happening during the period of this Contract.
The cost of removing, nullifying or cleaning-up seeping, polluting or contaminating substances unless the
seepage, pollution or contamination is caused by sudden, unintended and unexpected happening during
the period of this Contract.
 Loss Notification Clause (30 days)

Notwithstanding anything contained herein to the contrary it is agreed that this insurance will not be
prejudiced by any inadvertent delays, errors or omission in notifying the Company of any circumstances or
events giving rise of likely to give rise to a claim under this Policy.
 Memorandum of Dispute Clause

1. In the event of any dispute arising between the Insurer and Insured as consequence of the interpretation
of liability or amount of indemnity of this policy, the dispute shall be settled amicably within 60 (sixty)
calendar days from the dispute arose. The dispute arises since the insured has expressed in writing his
disagreement on the subject matter of the dispute.
2. If the dispute could not be settled amicably as provided in item 1 above, the insured may request the
Indonesian Insurance Mediation Board (BMAI) to act as a mediator in order to settle the dispute subject to
the terms and conditions applied by BMAI.
3. If the dispute could not be settled amicably as provided in item 1 above, the insured does not want to
approach BMAI or after approaching BMAI the insured does not want to accept the decision of BMAI then
the insurer shall give the option to the insured to select either one of the following dispute settlement stated
below:

oo oo oo oo
a. Arbitration
It is hereby declared and agreed that the insured and the insurer shall settle the dispute through Arbitration
Ad Hoc as follows:
1. The Ad Hoc Arbitration consists of 3 (three) Arbitrators. The insured and the insurer shall each appoint
one Arbitrator within 30 (thirty) calendar days from the date of the receipt of the written notification, then
the two Arbitrators shall choose and appoint the third Arbitrator calendar days from the date of appointment
of the second Arbitrator, The third Arbitrator shall act as Umpire of the Arbitration Ad Hoc.
2. Should there be any failure as to the appointment of the third Arbitrator, the insured and or the insurer
could request the Chairman of the court (Ketua Pengadilan Negeri) where the defendant domiciles to appoint
the Umpire.
3. The examination of the dispute shall be settled within 180 (one hundred and eighty) calendar days from
the date of the formation of the Arbitration Ad Hoc. The period of examination of the case could be extended.
Upon the agreement of booth parties and if it is deemed necessary by the Arbitration Ad Hoc, the period of
the examination of the dispute could be extended.
4. The Arbitration award is final and enforceable at law and binding the insured and the insurer. Should
the insured and or theinsurer fail to comply with the arbitration award, then the award shall be executed
under the order of the Chairman of the competent court (Ketua Pengadilan Negeri yang berwenang) at the
request of the other party in dispute.
5. Other matters which are not provided under this clause shall be subject to the provisions of laws on
arbitration, which currently be the Act of the Republic of Indonesia Nr. 30 year 1999 dated August 12, 1999
regarding Arbitration and Alternative Dispute Resolution).
b. Court
It is hereby declared and agreed that the insured and the insurer shall settle the dispute through the Court
(Pengadilan Negeri) within the territory of the Republic of Indonesia.
4. In case of the decision of adjudication of BMAI is declined by the insured, but the insured does not take
the case to arbitration or court within 180 (one hundred eighty) calendar days from the date of the
adjudication's decision made by BMAI in writing, then the rights of the insured to the indemnification will
be automatically forfeited.
 Mis-description Clause
It is understood that this insurance shall not be prejudiced by any alteration or misdescription of occupancy
provided the Insured shall notify the Company immediately they become aware of the same and to pay
additional premium if required from the date of the inception of the increased hazard.
 Nominated Adjusters Clause

In the event of any claim under this Policy one of the following adjuster shall be appointed subject to mutual
agreement:
-PT. SDP Crawford.
-PT. Japenansi Nusantara
-PT Sedgwick Adjusters Indonesia
-PT. Prima Adjusterindo
-PT. Axis International
-PT. General Adjuster -PT. McLarens Indonesia
 Non Invalidation Clause

It is hereby agreed that this insurance shall not be invalidated by :
A. Any change of occupancy or increase of risk taking place in the property insured without the Insured's
knowledge, provided that they shall, immediately on the same coming to their knowledge, advise the Insurers
and pay any additional premium that may be required from the date of such increase of risk.
B. Workmen on the premises for the purpose of affecting repairs minor alterations or general maintenance
purposes and the like.
 Payment on Account Clause (30%)

oo oo oo oo
It is hereby declared and agreed that progress payment on account of any loss recoverable under this policy
will be made to the Insured at such stages as may be mutually agreed upon if desired by the Insured and
on production of an interim report by the loss adjuster (if appointed) provided that such payment are
deducted from the finally agreed claim settlement figures.
 Plans & Documents Clause (limit 20% anyone claim amount per occurrence)
Notwithstanding anything herein contained to the contrary the Insurance hereby is extended to indemnity
the Insured against the necessarily incurred costs of re-writing or re-drawing of plans and drawing or other
contract documents lost destroyed or damage as a result or peril insured hereunder wherever or whenever
such loss destruction or damage shall occur.
Such indemnification shall however be limited to:
A maximum amount of 20% anyone claim amount per occurrence out of any event.
The cost of labour expended in such re-writing or re-drawing including all necessary overtime working or
research.
 Political Risk Exclusion

Notwithstanding any provisions to the contrary within this insurance or any endorsement thereto it is agreed
that this insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused
by, resulting from or in connection with the following regardless of any other cause or event contributing
concurrently or in any other sequence to the loss;
Confiscation, expropriation, nationalization, commandeering, requisition of destruction of or damage to
property by order of the Government de jure or de facto or any public, municipal or local authority of the
country or are in which the property is situated; seizure or destruction under quarantine or customs
regulation.
This endorsement also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly
caused by, resulting or in connection with any action take in controlling, preventing, suppressing or in any
way relating to the above.
If the underwriters allege that reason of this exclusion, any loss, damage, cost or expense is not covered by
this insurance the burden of proving the contrary shall be upon the Assured.
In the event of any portion of this endorsement is found to be invalid or unenforceable, the remainder shall
remain in full force and effect.
 Pro rata refund premium clause (For what so ever causes)

In the event the insurer or the Insured terminates this insurance, the Insurer is obligated to return pro-rata
premium for the unexpired period of insurance.
 Riot, Strike, Malicious Damage, Civil Commotion Endorsement (RSMD 4.1B/2007)

(As per standard tariff)
 Sanction Limitation and Exclusion Clause

No (re)insurer shall be deemed to provide cover and no (re)insurer shall be liable to pay any claim or provide
any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of
such benefit would expose that (re)insurer to any sanction, prohibition or restriction under United Nations
resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom
or United States of America.
 Special Property Under Construction Clause

This Policy covers the interest of the Insured with the application of the waiver of subrogation against the
Contractors and/or Sub-contractors.
It is understood and agreed that this Policy is extended to cover the Property during the transition phase
from the Contractors/Erection All Risk Policy to the Property All Risk Policy excluding Testing and
Commissioning of the machinery and/or equipment. Transition phase here defined as the period with
maximum 6 months since the Contractors/ Erection All Risk Policy has been lapsed or not extended.
For avoidance of doubt, the policy should not be invalidated by the minor work of construction or erection,
if any, during the transition phase. Minor works here defined as the alteration and / or construction and
/or erection work carried out at risk location as a continuation of the project work with the value of the

oo oo oo oo
remaining minor work not exceeding 5% of TSI.

All the other terms and conditions remain unchanged.
 Terrorism Exclusion Clause

Notwithstanding any provision to the contrary within this insurance or any endorsement thereto, it is agreed
that this insurance exclude loss, damage, cost or expense of whatsoever nature directly or indirectly caused
by assaulting from or in connection with any act of terrorism regardless of any other cause or event
contributing concurrently or in any other sequence to the loss.
For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use
of force or violence and/or the threat thereof, of any person or groups(s) of persons, whether acting alone or
on behalf of or in connection with any organization(s) or government(s), committed for political, religious,
ideological or similar purposes including the intention to influence any government and/or to put the public,
or any section of the public, in fear.
This endorsement also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly
caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or
in any way relating to any act of terrorism.
If the Underwriters allege that by reason of this exclusion, any loss, damage, cost or expense is not covered
by this insurance the burden of proving the contrary shall be upon the Assured.
In the event any portion of this clause is found to be invalid or unenforceable, the remainder shall remain
in full force and effect.
 Thirty (30) days cancellation notice clause (except 3 days for RSMD 4.1B/2007 and 5 days for
Earthquake Policy)
It is hereby declared and agreed that both the Insurer and the Insured are entitled to cancel this insurance
at any time without given reason therefore. Such cancellation shall however only become effective on the
expiration of 30 (thirty) days from midnight of the day on which notice of the cancellation is issued. If the
Insurer cancels the insurance he is obliged to return the pro-rata premium for the unexpired period of
insurance. If it is the Insured who cancels the insurance, premium will be calculated on the short term rate
for the completed period of Insurance.
 Typhoon, Storm, Flood & Water Damage Endorsement 4.3A

(As per standard tariff)
 72 Hours Time Adjustment Clause (for Earthquake, Tsunami & Volcanic Eruption & 4.3A
Endorsement)
Each occurrence of loss and or damahe caused by any insured perils shall contitute a single claim
hereunder, provided that if more than one event shall occur within a period of 72 hours as from the first
occurrence, such events shall be deemed to be a single event within the meaning hereof.
The Insurer shall not be liable for any loss although caused by any insured perils occuring before the effective
date and time of this policy, nor for any loss occurring after the expiry date and time of this policy
 Overhead, Transmission and Distribution Line Exclusion Clause

This policy does not cover 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 Schedule
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.
 War and Civil War Exclusion

oo oo oo oo
This agreement does not cover any liability assumed by the Insured for loss or damage directly or indirectly
occasioned by happening through or in consequence of war, invasion, acts of foreign enemies, hostilities or
war-like operations (whether war be declared or not), civil war, mutiny, civil commotion assuming the
proportions of or amounting to popular rising, military rising, insurrection, rebellion, revolution, military or
usurped power, martial law, confiscation or nationalization or requisition or destruction of or damage to
property by or under the order of any Government or public or local authority.
 War and Terrorism Exclusion

Notwithstanding any provision to the contrary within this insurance or any endorsement there it is agreed
that this insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly sause
by, resulting from or in connection with any of following regardless of any other cause or event contributing
concurrency or in any other sequence to the loss ;
War, invasion, acts of foreign enemies, hostilities or warlike operation (whether war be declared or not), civil,
war, rebellion. Revolution, insurrection, civil commotion assuming the proportions of or amounting to an
uprising, military or usurped power, or
Any act of terrorism
For the purpose of this endorsement an act of terrorism means an act, including but not limited to the use
of power or violence and/or the threat thereof, of any person or group(s) of person, wherher acting personal
or on behalf of or in connection with any organization(s) or government(s), committed in committed in
political, religious, ideological or similar purpose including the intention to influence any government and/or
to put the public. Or any section of the public in fear
This endorsement also excluded loss, damage, cost or expense of whatsoever nature directly or indirectly
caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or
in any way relating to (1) and/or (2) above
If the Underwriters allege that by reason of this exclusion, any loss, damage, cost or expense is not covered
by this Insurance. The burden of proving the contrary shall be upon the Assured
In the event any proven of this endorsement is found to be invalid unenforceable, the remainder shall remain
in full force and attack
 Display and Exhibition Clause (Limit Rp. 1.000.000.000,- maximum 30 days / event within
Indonesia territory)


oQS 66-Jeffrey Halim

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

oQS 66-Jeffrey Halim

Uploaded by

Copyright:

Available Formats

oo oo oo oo

TYPE PROPERTY ALL RISK INSURANCE including Earthquake, Volcanic

WORDING  Munich Re Form

CODE / OCCUPATION Apartments/ condominiums, offices, multi-storeyed car parks not

RISK LOCATION Jl. Otto Iskandardinata No. 447 – Bandung

PERIOD OF COVER 11 Oktober 2023 - 11 Oktober 2024

DAYS 366 Days

TOTAL SUM INSURED Material Damage = IDR 5.300.000.000

INTEREST INSURED MATERIAL DAMAGE

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

which partly or wholly serves to supply the described premises,

Sum Insured: Rp. 5.000.000.000,-

B. CONTENTS (Incl. Office Contents) & INVENTORY

Sum Insured: Rp. 300.000.000,-

Total Sum Insured: Rp. 5.300.000.000,-

BASIS OF LOSS SETTLEMENT Reinstatement/Replacement Basis (Including Earthquake Perils)

EXTENTION CLAUSE: (per Material Damage

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

 Appraisement Clause (limit 10% of Total Sum Insured)

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

 New Location Clause (Rp. 5.000.000.000,- subject to first

APPLIED TO ALL CLASS OF INSURANCE AND ALL SECTION

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

 Overhead, Transmission and Distribution Line Exclusion

ANNUAL RATE OJK

BROKERAGE 15% (+10% VAT)

( NUR TJAHYADI ) ( R HENDRA ) ( R HENDRA )

Account Executive Pialang Asuransi Tenaga Ahli

INSURANCE ACCEPTANCE CONFIRMATION

Quotation Slip No. : QS/0000066/BAE02/08/23

Insured's Name : Mr. Jeffrey Halim

Class of Insurance : PAR including earthquake

Period of Insurance : 11 Oktober 2023 - 11 Oktober 2024

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

EXTENTION CLAUSE: (per location)

Section I - Material Damage

 Average Relief Clause (80%)

 Alteration and Repair Clause

 Appraisement Clause (limit 10% of Total Sum Insured)

 Architecs, etc. Fees Clauses (Limit 10% of Sum Insured)

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

 Bankers Clause (If Any)

 Automatic Reinstatement of Sum Insured Clause - subject to additional premium

 Boiler Explosion Clause

 Broad Pair and Set Clause

 Breach of Warranty Clause

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

 Burst of Pipes Endorsement

 Capital Addition Clause (10% of Sum Insured)

 Civil Authorities Clause

 Constructive Total Loss (85%)

 Computer Records Clause

 Debris Removal Clause (Sub Limit 10% of Total Sum Insured)

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

 Defunct Spare Clause (Rp. 250.000.000,-)

 Escalation Clause (10%)

 Expediting Expenses Clause (25% of loss any one occurrence)

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)

 Fire Extinguishing Clause (Limit Rp. 250.000.000,- any one occurrence)

 Floor Space Ratio Index

 General Interest Clause

 Impact by own vehicle Clause

 Internal Removal Clause

MIR Standard PAR Quote Slip V1.0 (Rev02/09/2020)