HEAVY EQUIPMENT SPECIAL RISKS
POLICY
The Insured described in the Schedule hereto
has applied to
PT ………………
(hereinafter called “the
Insurer”)
by a proposal and declaration
which the Insured has agreed shall be deemed to be of a promissory nature and
effect and the basis of this Contract and is deemed to be incorporated herein
and has paid or agreed to pay the premium as consideration for such insurance.
That the Insurer shall, subject
to the terms, exceptions and conditions
contained herein or endorsed indemnify the Insured against loss of or
damage to the property described in the Schedule hereto, caused by ALL PERILS except provided herein.
GENERAL EXCEPTIONS PENGECUALIAN UMUM
The Insurer shall not be liable
in respect of :
1. Any accident, loss,
damage, expense occasioned by or through
or in consequence either directly or indirectly of :
1.1. War, invasion, act of foreign enemy, hostilities warlike
operations (whether war be declared or not), civil war
1.2. Mutiny, civil commotion
assuming the proportions of or
amounting to a popular
rising, military rising,
insurrection, rebellion, revolution, military or usurped power
1.3. Earthquake, volcanic eruption, landslide, flood, tsunami,
typhoon or another symptom of geology or meteorology and Excluded Perils
In any action, suit or other
proceeding where the Insurer alleges that by reason of the provisions of this
General Exception any accident, loss, damage, expense is not covered by this
insurance, the burden of proving that such accident, loss, damage, expense is
covered shall be upon the Insured.
2. Any accident, loss, damage or expense occasioned by or
through or in consequence, directly or indirectly of confiscation,
commandeering, requisition or destruction of or damage to the property by order
of the Government de jure or de facto or any public, municipal or local
authority of the country or area in
which the property is located.
3. Any accident, loss, damage or expense directly or
indirectly caused by or arising from or in consequence of or contributed to by
:
3.1. nuclear weapon material
3.2. ionizing radiations or contamination by radioactivity from
any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel
and, solely for the purpose of this
General Exception, combustion shall include any
self sustaining process
of nuclear fission.
4. Consequential loss or damage of any kind.
EXCLUDED PERILS
Unless expressly stated to the
contrary, the Insurer shall not be liable for :
1. Loss or damage caused by wear and tear or
gradual deterioration.
2. Loss or damage caused by faulty manufacture,
installation, repairing or occasioned by inherent character of the insured
property
3. Loss or damage caused by breakage during installation,
repairing or dismantling, nor breakage during transportation unless caused by
fire, lightning, collision, derailment or overturning vehicles.
4. Loss or damage caused by neglect of the Insured to use
all reasonable means to save and preserve the property at and after any
disaster insured against.
5. Loss or damage
caused by dampness
or atmosphere or extreme of temperature
6. Loss or damage to the canopy unless such loss or damage
is caused by the equipment overturning.
7. Loss or damage to tyres or tubes due and confined to blow
out, bruises, cuts or other causes inherent in the use of equipment, unless
such damage is the result of other loss covered by this Policy.
8. Loss or damage
to equipment licensed
for highway use, aircraft or watercraft.
9. If the property hereby insured shall on the happening of
any loss or damage be collectively of greater value than the sum insured
thereon, then the Insured shall be considered as being his own insurer for the
difference, and shall bear a rateable proportion of the loss accordingly. Every item, if more than one, of
the Policy shall be separately subject to the condition.
10. Loss or damage
caused by or
resulted from Third Party or
General Public Liability.
11. In the case of loss or damage from perils insured against
to any part of machine, consisting when complete for sale or use of several
parts, the Insurer shall be liable only for the insured value of the part lost
or damaged.
12. Loss or damage to electrical appliances, devices, apparatus
or machinery of any kind, including wiring caused by electrical currents
artificially generated unless fire ensues and then only for this Insurer‚s
proportion of loss caused by such ensuing fire.
13. Loss or damage occasioned by the weight of a load exceeding
the registered lifting or supporting capacity of the machine.
It is also agreed that no claim
shall be made under this Policy unless the loss or damage caused exceeds the
deductibles stated in the Schedule and then this Insurer shall only be liable
for the amount of loss in excess of deductible stated in the Schedule not
exceeding, however, the amount of this Policy.
Subject otherwise to the General
Exceptions and Conditions of this Policy
CONDITIONS
1. NOTICE AND PROOF OF LOSS. The
Insured shall as soon as practicable report to this Insurer or its agent every
loss or damage which may become a claim under this Policy and shall also file
with the Insurer or its agent within ninety (90) days from date of loss a
detailed sworn proof of loss. Failure by the Insured to report the said loss or
damage and file such as herein before provided shall invalidate any claim under
this Policy for such loss.
The Insured shall, if required by
the Insurer produce or give access to any property alleged to be damaged and
the Insured shall be bound to satisfy the Insurer by such reasonable evidence
as the Insurer may require that the loss or damage in respect of which a claim
is made has actually arisen from one of the risks insured against.
2. ARBITRATION.
If any difference arises as to the amount of any loss or damage, such
difference shall independently of all other questions be referred to the
decision of an arbitrator, to be appointed in writing by the parties in
difference or if they cannot agree upon a single arbitrator, to the decision of
two disinterested persons as arbitrators, of whom one shall be appointed in
writing by each of the parties within two calendar months after having been
required so to do in writing by the other party.
In case either party shall refuse
or fail to appoint an arbitrator within two calendar months after receipt of
notice in writing requiring an appointment, the other party shall be at liberty
to appoint a sole arbitrator and in case of disagreement between the
arbitrators the difference shall be referred to the decision of an Umpire who
shall have been appointed by them in writing before entering on the reference,
and who shall sit with the arbitrators and preside at their meetings. The death
of any party shall not revoke of effect the authority or powers of the
arbitrator, arbitrators or umpire respectively and in the event of death of an
arbitrator or umpire, another shall in each case be appointed in his stead by
the party or arbitrators (as the case may be) by whom the arbitrator or umpire
so dying was appointed. The costs of the reference and of the award shall be at
the discretion of the arbitrator, arbitrators or umpire making the award. And
it is hereby expressly stipulated and declared that it shall be a condition
precedent to any right of action or suit upon this Policy that the award by
such arbitrator, arbitrators or umpire of the amount of the loss or damage if
disputed shall be first obtained.
3. OTHER
INSURANCE. It is a condition of this Policy that it shall not cover any
property to the extent that it is directly covered by other insurance (whether
Fire, Marine or other Policy or policies) whether prior or subsequent hereto or
simultaneous herewith in date and by whomsoever effected, and this Insurer
shall be liable for loss or damage covered
hereunder only for the excess value beyond the amount collectible from
such other insurance, but not exceeding the limits of liability set forth
herein.
4. BENEFIT
OF INSURANCE. It is warranted, that this insurance shall in no case inure
directly or indirectly to the benefit of any carrier, bailee or other party by
stipulation in bill of lading or otherwise and any breach of this warranty
shall render this Policy null and void.
5. EXEMPTING
OTHERS FROM LIABILITY. Any act or agreement by the Insured prior or subsequent
hereto or simultaneous herewith in date, whereby any right of the Insured to
recover in full value of or amount of damage to any property lost or injured
and insured hereunder, against any carrier, bailee or other party liable
therefore, is released, impaired or lost, shall render this Policy null and
void, but the right to retain or recover the premium shall not be affected.
This Insurer is not liable for any loss or damage which, without its consent,
has been settled or compromised by the Insured. The Insured may however, accept
the ordinary bills of lading issued by carries without prejudice to this
insurance but the Insured agrees not to enter into special agreement with the
carriers releasing them from their common law or statutory liability.
6. SUBROGATION OF RIGHTS. The Insured shall at the expense
of the Insurer, do and concur in doing and permit to be done, all such acts and
things as may be necessary or required by the Insurer for the purpose of
enforcing any rights and remedies, or of obtaining relief or indemnity from
other parties to which the Insurer shall be or would become entitled or
subrogated, upon its paying for or making good any loss or damage under this Policy,
whether such acts and things shall be or become necessary or required before or
after his indemnification by the Insurer.
7. REDUCING CLAUSE. Loss incurred hereunder shall reduce the
amount of insurance on the property lost or damaged by the amount of the loss
until the said amount be made good by additional insurance with pro rata
additional premium paid therefore.
8. MACHINERY. In case of loss or damage from perils insured
against to any part of a machine, consisting when complete for sale or use of
several parts, this Insurer shall be liable only for the insured Value of the
part lost or damaged.
9. VALUATION. Unless otherwise specifically stated herein,
this Insurer shall not be liable beyond the actual cash value of the property
at any time any loss or damage occurs, and in no event for an amount in excess
of that specified in the Policy, and the loss or damage shall be ascertained or
estimated according to such actual cash value with proper deduction for
depreciation, however caused and shall in no event exceed what would then cost
the Insured to repair or replace the same with material of like kind and
quality said ascertainment or estimate shall be made by the Insured and this
Insurer, or, if they differ, then by arbitrators. As herein provided, it shall
be optional, however, with this Insurer to take all or any part of the articles
as such ascertained or appraised value and also to repair or replace the
property lost or damaged with other of like kind and quality within a
reasonable time on giving notice within thirty days after receipt of the proof
herein required, of its intention so to do, but there can be no abandonment to
this Insurer of the property described.
10. AVERAGE (CO-INSURANCE). If the property hereby insured
shall, on the happening of any loss or damage be collectively of greater value
than the sum insured thereon, then the Insured shall be considered as being his
own Insurer for the difference, and shall bear a rateable proportion of the
loss accordingly. Every item, if more than one, of the Policy shall be
separately subject to this condition.
11. ASSIGNMENT.
The assignment of this Policy, or this subrogation of any right hereunder to
any party without the written consent of the Insurer, shall render this
insurance null and void.
12. CANCELLATION
OF THE INSURANCE. The insurance may be terminated at any time at the request of
the Insured, in which case the Insurer will retain the customary short period
rate for the time the Policy has been in force. The insurance may also at any
time be terminated at the option of the Insurer or notice to that effect being
given to the Insured in which case the Insurer shall be liable to repay on
demand a rateable proportion of the premium for the unexpired term from the
date of the cancellation.
13. MISDESCRIPTION. This Policy shall be void if the Insured
has concealed or misrepresented any material fact or circumstances concerning
this insurance or the subject thereof or in any case of any fraud, attempted
fraud or false swearing by the Insured touching any matter relating to this
insurance or the subject thereof, whether before or after a loss.
14. TIME LIMIT FOR INSURERS
LIABILITY. In no case whatever shall the Insurer be liable for any loss or
damage after the expiration of twelve months from the happening of the loss or
damage unless the claim is the subject of pending action or arbitration.
15. NOTICES. Every notice and other communication to the
Insurer required by these conditions must be written or printed.
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