On First Loss BasisThis insurance under this heading is not subject to the Average Clause.
1.In consideration of the payment of an additional premium this policy extends to indemnify the Insured in respect of
The cost of removal of debris, demolition any temporary repairs necessary (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 the Insured’s Fire Policy (or Policies) occasioned by fire or any other perils thereby insured against.
Provided always :
-that such cost is not recoverable under any other Policy of Insurance
-that 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.
2.Sum Insured : within the sum insured with Limit 10% of TSI which in no case shall not exceed 10% of the total sum insured on building(s) and/or contents.
Insurance Agents Team who shares all About Insurance, i.e. Health Insurance, Auto Insurance, Insurance Rates, Fire Insurance, Liability Insurance, Property Insurance, Engineering Insurance, Aviation Insurance, Machinery Breakdown Insurance, Fidelity Guarantee, Money Insurance, Marine Cargo Insurance, Project Insurance, Automobile Liability Insurance, Builder's Risks Insurance, Contractors-Erection All Risks Insurance, Loss Prevention, Risks Management, Insurance Claims, etc
Subscribe to:
Post Comments (Atom)
-
Endorsement 001 Cover for Loss or Damage due to Strike, Riot and Civil Commotion (SRCC) It is agreed and understood that otherwise su...
-
Endorsement 001 Cover for Loss or Damage due to Strike, Riot and Civil Commotion (SRCC) It is agreed and understood that otherwise subj...
-
Where any contract or agreement entered into with any principal (named in the schedule hereto) and the company will indemnify the Principal ...
No comments:
Post a Comment