APPORTIONMENT OF RECOVERIES CLAUSE

APPORTIONMENT OF RECOVERIES CLAUSE

Marine cargo

It is hereby understood and agreed that where recovery is obtained form a carrier or other third party such recovery shall be apportioned between the Assured and the Underwriters in the same proportion as the respective parties hereto borned the loss

AIRCRAFT PRODUCT EXCLUSION CLAUSE

AIRCRAFT PRODUCT EXCLUSION CLAUSE

This policy does not cover liability arising directly or indirectly out of, caused by or in connection with 

aircraft products. For the purposes of this clause the term "aircraft" shall include but not be limited to 

missiles & spacecraft and the term "aircraft products" shall include but not be limited to: 

Aircraft and any ground support or control equipment used in connection therewith 

any product provided by the insured and installed or used in connection with an aircraft 

any tooling used in respect to aircraft products 

training and navigational aids, instructions, manuals, blueprints, engineering or other data 

any advice, service or labor supplied in connection therewith

AIRCRAFT LANDING AREA EXCLUSION

AIRCRAFT LANDING AREA EXCLUSION

This policy does not cover liability arising directly or indirectly out of, caused by or in connection with ownership, occupation or control by the Insured of any property or structure used as a Landing Area for 

aircraft unless: 

the Landing Area is an aerodrome as defined by applicable aviation regulations 

the Insured has received specific or general instruments of authorisation under applicable aviation regulations and such instruments do not authorise Regular Public Transportation Services 

flight movements do not exceed 1000 per year

The term Landing Area includes any area on which aircraft land, take off or are housed, maintained or operated.

Additional Cost of Working / Increased Cost of Working -

  Additional Cost of Working / Increased Cost of Working - The increased costs incurred after a property damage loss, to limit any reduction in turnover or revenue, and to maintain normal business operations. These expenses could include such items as hiring alternate premises, temporary staff, additional freight or storage etc. (Most policies limit the amount they will pay for these costs to the amount that is being saved in turnover or revenue - i.e. you cannot spend more than a dollar to save a dollar). 

  Additional Increased Cost of Working - The increased costs incurred after a property damage loss, above those payable under the standard cover for Increased Cost of Working. These will generally include any reasonable costs irrespective of whether they limit any reduction in turnover or revenue. These additional increased costs are often expended to keep or regain market share, and to maintain normal business operations.

ADDITIONAL INCREASED IN COST OF WORKING

ADDITIONAL INCREASED IN COST OF WORKING

“The insurance under this item is limited to increase in cost of working (not otherwise recoverable hereunder) necessarily and reasonably incurred during the Indemnity Period in consequence of the damage for the purpose of avoiding or diminishing reduction in Turnover and/or resuming and/or maintaining normal business operations and/or services.”