Check out this SlideShare Presentation:
Tampilkan postingan dengan label PROPERTY. Tampilkan semua postingan
Tampilkan postingan dengan label PROPERTY. Tampilkan semua postingan
Check out this SlideShare Presentation:
It is hereby noted and agreed that ......... (hereinafter referred to as the Lessors) are the owners of the Property insured under (item ....) and that such Property is the subject of a leasing Agreement made between the Lessors on the one part and the Insured on the other part. It is further understood and agreed that any payment made in respect of loss or damage (which loss or damage is not made good by repair, reinstatement or replacement) under the terms of this Policy shall be made to the lessors as long as they are the owner of the property. It is understood and agreed that notwithstanding any provision in the Leasing Agreement to the contrary, this Policy is issued to the Lessors and nothing herein shall be considered as constituting the Insured an agent or Trustee for the Lessors or as an assignment (whether legal or equitable) by the Insured to the Lessors of his rights, benefits and claims under this Policy, and, further, nothing herein shall be contrued as creating any right in the Lessor to sue the Company in any capacity whatsoever for any alleged breach of its obligations hereunder.
Notwithstanding anything contained to the contrary, it is agreed that the indemnity provided herein shall not apply to :
1. damages, to which the insurance applies, awarded by judgments delivered or obtained in the first instance otherwise than by a court of competent jurisdiction within the Republic of Indonesia;
2. costs and expenses of litigation recovered by any claimant from the insured which are not incurred in and recoverable in the Republic of Indonesia;
3. Cost and expenses incurred the insured in the defense of any claim outside the Republic of Indonesia
subject otherwise to the terms, conditions and exceptions of this policy.
subject otherwise to the terms, conditions and exceptions of this policy.
This policy is extended to include the loss as covered herein during the period of time, not exceeding two consecutive weeks, when, as a direct result of an insured peril, access to any location or premises is prohibited by order of civil authority.
It is understood and agreed that in the event that the removal of property from one building to another at any of the aforesaid premises is inadvertently not advised to the company, the insurance on such property remain in force.
The necessary adjustment in sum insured and premium will be made as from the date of removal as soon as the oversight is discovered.
The necessary adjustment in sum insured and premium will be made as from the date of removal as soon as the oversight is discovered.
It is understood and agreed that in the event of removal of property from one building to another at any of the aforesaid situations being inadvertently not advised to the Company, 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.
The interest of parties supplying property or materials to the main contractor or any sub contractor under a hiring, leasing or similar agreement is hereby noted but only extend that the main contractor or sub-contractor is required to include such interest.
It is agreed that the insured's consultants and other professional advisors shall be deemed to be third parties.
The insurance by this policy extends to include the insured's insurable interest in work in progress or under manufacture or supply as a result of and to the extent of any and all progress payments made to the said manufactures or suppliers anywhere in the world and not otherwise insured.
The practise of using Helicopters for the transfer of crew, pilots, surveyors, repairers or others, cargo, mail, stores, equipment and the like will not prejudice this insurance
The use of electric, gas and other lighting, heating and power usual to trades and occupations is allowed as provided by law or municipal regulations.
Headings have been included in this specification for ease of reference, and it is understood and agreed that the terms and conditions of this policy and specification are not to be construed or interpreted by reference to such headings.
The storage of paints is allowed, but it is warranted that otherwise during the currency of this policy no mineral oil or other liquid giving off an inflammable vapour flashing below 200 degree F or 93 degree C or more than 400 gallons of kerosene oil or other inflammable vapour but flashing below 100 degree F or 38 degree C (stored in accordance with the municipal regulations) and not more than 4 cases or 4 cartons of matches and/or 4 cases of fire crackers be in or on the premises.
Warranted that none of the goods mentioned in the list below (see overpage) shall at any time during the policy period be in or upon the within mentioned premises, but allowing the storage of such hazardous goods including liquid paints to the extent of 1% only of the total value of stocks, such quantity of hazardous goods not include more than 6 gallons of petrol or other liquid giving off inflammable vapour flashing below 100F/38C or more than 4 cases or cartons of matches and/or 4 cases of fire crackers.
The following goods are deemed to be hazardous :
Acetylene (liquid) Hemp Potassium Ferricyanide
Bamboo Mats Hessians other than in bales Potassium Ferrocyanide
Benzine Potassium Hydroxide
Benzoline Jute in fully pressed Potassium Nitrite
Bi-Sulphide of Carbon bales or otherwise Potassium Perchlorate
Blacks of all kind ** Kapok whether in fully Potassium Permanganate
Brimstone pressed bales or Potassium Peroxide
Calcium Carbide otherwise Potassium Sulphide
Camphrine Kerosene Prusiade of Potash
Camphor Lime Unslaked Rags
Candles Mungo Resins
Cartridges Matches of all kind Rockets
Celluloid & Xylonite Naphtha Rock Oil
& other similar Naphthalene Saltpeter
substances Nitrate or Soda Shoddy
Charcoal (powdered) Nitro-Glycerine Spirits of all kinds,
Chloride of Soda Oil of all kinds (other not in bottles
Coconut Oil than vegetable or Stearine
Codilla essential oils packed Straw
Coir or Coir Yarn in bottles in cases or Sulphur Dyes or Colours
Cordite tins in cases (excluding those Cotton (whether in Oxalade of Potash packed in air tight
fully pressed bales Paints (liquid) except metal vessels labeled
or otherwise) water and emulsion with a certificate by
Copra, including copra in sealed metal tins the manufacturers that
cakes & copra meal or drums the dyes or Colours
crackers Paraffin contain at least 100%
Explosive of all kind Percussion Caps of inert inorganic
Fats Petrol salts
Fireworks Petroleum & its liquid Tallow manufactured or
Fulminating Powder products unmanufactured
Ghee Phosphorous Tar
Grasses of all kind Pitch Turpentine
Gunny Bags, other than Potassium Varnish
in fully pressed Potassium Bichromate Vegetable Fibbers of all
bales *** Potassium Bimoxalate * kinds
Gunpowder Potassium Chlorate Waste of all kinds
Hay Potassium Cyanide *
* if stored on the same floors as, or on floors above, foodstuffs
** blacks when stored by themselves in a separate building should be closed as non-hazardous
*** broken bales of gunnies for packing or bagging purpose only are allowed without incurring the additional change for hazardous goods
The following goods are deemed to be hazardous :
Acetylene (liquid) Hemp Potassium Ferricyanide
Bamboo Mats Hessians other than in bales Potassium Ferrocyanide
Benzine Potassium Hydroxide
Benzoline Jute in fully pressed Potassium Nitrite
Bi-Sulphide of Carbon bales or otherwise Potassium Perchlorate
Blacks of all kind ** Kapok whether in fully Potassium Permanganate
Brimstone pressed bales or Potassium Peroxide
Calcium Carbide otherwise Potassium Sulphide
Camphrine Kerosene Prusiade of Potash
Camphor Lime Unslaked Rags
Candles Mungo Resins
Cartridges Matches of all kind Rockets
Celluloid & Xylonite Naphtha Rock Oil
& other similar Naphthalene Saltpeter
substances Nitrate or Soda Shoddy
Charcoal (powdered) Nitro-Glycerine Spirits of all kinds,
Chloride of Soda Oil of all kinds (other not in bottles
Coconut Oil than vegetable or Stearine
Codilla essential oils packed Straw
Coir or Coir Yarn in bottles in cases or Sulphur Dyes or Colours
Cordite tins in cases (excluding those Cotton (whether in Oxalade of Potash packed in air tight
fully pressed bales Paints (liquid) except metal vessels labeled
or otherwise) water and emulsion with a certificate by
Copra, including copra in sealed metal tins the manufacturers that
cakes & copra meal or drums the dyes or Colours
crackers Paraffin contain at least 100%
Explosive of all kind Percussion Caps of inert inorganic
Fats Petrol salts
Fireworks Petroleum & its liquid Tallow manufactured or
Fulminating Powder products unmanufactured
Ghee Phosphorous Tar
Grasses of all kind Pitch Turpentine
Gunny Bags, other than Potassium Varnish
in fully pressed Potassium Bichromate Vegetable Fibbers of all
bales *** Potassium Bimoxalate * kinds
Gunpowder Potassium Chlorate Waste of all kinds
Hay Potassium Cyanide *
* if stored on the same floors as, or on floors above, foodstuffs
** blacks when stored by themselves in a separate building should be closed as non-hazardous
*** broken bales of gunnies for packing or bagging purpose only are allowed without incurring the additional change for hazardous goods
Unless otherwise specifically excluded under the policy, hazardous goods usual to the trade and/or business are allowed to be stored in the quantities and manner as permitted by law or municipal regulation.
It is agreed and declared that lack of due diligence by any Government Department or its officers, contractors, sub-contractors or other underwriters in approving or carrying out repairs to any property insured under a more specific policy of insurance, but which causes or extends the period of interruption or interference with the business as a result of loss, destruction or damage from a peril insured.
Notwithstanding the territorial limits shown in the schedule, cover shall extend to include materials or other goods for incorporation in the works which in accordance with the terms of the contract, have vested in and been paid for by the employer or for which the employer has agreed to pay whilst such materials or goods are held in storage anywhere in the world prior to shipment unless otherwise insured
It is hereby declared and agreed that notwithstanding anything to the contrary of the policy, but subject to its terms, limitations and conditions, that as regard to goods held in trust or on commission, this policy indemnifies the insured against his legal liability for destruction or damage to such property by fire or any peril hereby insured against.
It is understood and agreed that this policy is extended to indemnify the insured against loss or damage to materials (whether temporary or permanent) and any other goods or objects intended for incorporation into the works, whilst such materials goods or objects are stored anywhere in Indonesia (unless more specifically insured) other than when they are actually being worked upon.