Growing Trees Insurance

TYPE OF INSURANCE	:	GROWING TREES INSURANCE For Plant Oil Mill Plantation
THE INSURED	:	PT. xxxxxxxx  and/or All subsidiary and/or Affiliated Co. and/or Associated Co. and/or Corporations as now exist or may hereafter be constituted or acquired including their interests as may appear in Partnership or Joint Ventures for their respective rights and interest and in addition, Financial institutions which hold or may hold vested interest in the Property Insured for their respective rights and interests.
ADDRESS	:	………………………………..
PERIOD OF INSURANCE	:	12 (TWELVE) MONTHS FROM THE DATE TO BE ADVISED Both dates inclusive at 12.00 noon local time
RISK LOCATION	:	………………………………….
THE BUSINESS	:	Plant Oil Mills and/or other activities incidental thereto and/or any other occupation in which the Insured become engaged.
OCCUPATION	:	Oil Mills Plantation and/or any other activities related thereto.
INTEREST AND SUM INSURED	:	On all real and personal property of any kind nature and/or description On All Growing Trees and Standing Timer as Planted in the Risks Location of the Insured Oil Mills Plantation within the premises and belonging to the Insured of every type and description and/or other Trees / Timber materials not otherwise insured the property of the Insured and/or held by them in trust or on commission and/or consignment or on display and/or for which the Insured is responsible.
TOTAL SUM INSURED	:	IDR ……………………………
COVERAGE	:	To cover the Insured Growing Trees and/or Standing Timber against destruction caused directly by an insured event from an Occurrence when commence in the period of insurance. The insured events  are : Fire, Lightning, Explosion, Thunder-bolt, Falling of Aircraft or anything dropped from an aircraft other than chemicals. Riots, Strikes, Malicious Damage and Civil Commotion Impact by Other and Own Vehicle, Road and Rail Vehicle Windstorm, Tempest, Flood, Water Damage, Subsidence & Landslides Wind-throw resulting in topping, uprooting or stem breakage [Wind-throw only applies for Trees aged 6 Years and above at the time of Occurrence] and/or Earthquake, Volcanic Eruption and Tsunami
DEDUCTIBLE	:	v  Fire, Lightning, Explosion, Aircraft Damage, Smoke and Vehicle Impact : NIL v  Riot, Strike, Malicious Damage, Civil Commotion : 5 % of Recoverable Claim Amount with minimum IDR. xxxxxx,00 for any one loss or series of losses arising out of the same event. v  Wind-throw resulting in topping, uprooting or stem breakage, Windstorm, Tempest, Flood, Water Damage, Subsidence & Landslides : 10 % of Recoverable Claim Amount for any one loss or series of losses arising out of the same event. v  Earthquake, Fire and Explosion following Earthquake, Volcanic Eruption and Tsunami : 2.5 % of Total Sum Insured per location for any one loss or series of losses arising out of the same events.
COMBINED ANNUAL RATE	:	XXXX%
PREMIUM COMPUTATION	:	TSI multiplied by the Rate The Above Figure calculation subject to Additional Policy Cost and Stamp Duty
BASIS OF LOSS SETTLEMENT	:	Multiply The Block Sum Insured by the Gross Loss Percentage with additional Payments for “Additional Extension Clauses related to the Additional Expenses”, less by Deductible and Any Salvage.
EXCLUSION	:	1.       War and Warlike Activities 2.       Anything nuclear or radioactive 3.       Insured events that occurred before the policy commencement 4.       A Deliberate Act carried by the Insured and his representatives or by any person acting with the Insured’s permission, unless action due to minimize loss
		5.       Lawful seizure, confiscation of requisite by an order of any government, public of local authority 6.       Any act of Terrorism or 7.       Disease, weeds, insect or pests of any kind 8.       Withdraw damage to trees less than 6 years of age at the time of occurrence 9.       Consequential loss of any kind 10.    Any Loss directly caused by Snow or which would not have occurred snow had not been present
EXTENSION CLAUSES	:	1.       Alterations Clause 2.       Appraisement Value Clause 3.       Average Relief Clause (85%) 4.       Act of Civil Authorities Clause 5.       Cost of Re-writing Record and claim Preparation Clause 6.       Designation Clause 7.       Errors and Omission Clause 8.       Fire Brigades Charges Clause 9.       Fire Extinguishing Cost Clause 10.    General Interest Clause 11.    Indonesia Jurisdiction Clause 12.    Loss Notification Clause (30 Days) 13.    Mis-Description Clause 14.    New Planting  Clause 15.    Nominated Loss Adjusters Clause 16.    Non Invalidation Clause 17.    Notification Clause 18.    Payment on Account Clause 19.    Public Authorities Clause 20.    Reinstatement Value Clause 21.    Re-Establishment Clause 22.    Removal of Debris Clause (within the Sum Insured) 23.    Riot, Strike, Malicious Damage, Civil Commotion Code 4.1A + CC 24.    Salvage Sale Clause 25.    Seventy Two (72) hours Clause (for EQVET & TWFWD) 26.    Thirty (30) Days Cancellation Notice Clause except for RSMDCC ; 3 days  “Both the Insurer and the Insured are entitled to terminate this insurance upon thirty (30) days notice in writing being given. Such termination should be effected by the registered letter and the Insured entitle to a pro-rata refund premium for the un-expired period of Insurance”. 27.    Vehicle Load Clause 28.    Workmen’s Clause
BASIS OF LOSS SETTLEMENT	:	Multiply The Block Sum Insured by the Gross Loss Percentage with additional Payments for “Additional Extension Clauses related to the Additional Expenses”, less by Deductible and Any Salvage.
SECURITY	:	1st Class Insurance Company

Jakarta, July 7, 2012

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