Rabu, 01 Mei 2013

Claim preparation clause

This insurance is extended to cover costs and expenses reasonable incurred by the Insured following lose or damage to the Property insured to extact and compile information required by the company from the Insured’s own records for the purpose of preparing a claim under the Policy but excluding legal, invesgation and research fees/expenses incurred for the purpose of contesting any issue over the Company’s liability under the Policy.
Provided always that no amount shall be recoverable under this endorsement if subsequent to the incurring of any expenses, the company shall deny liability for any claim in respect of which the expenses have been incurred (with or without the consent of the Company).

This endorsement extends to indemnify the Insured for  :
(a)    The fees payable by the Insured to their auditors, and,
(b)    All other costs, charges and expenses reasonably and necessarily incurred by the Insured in the preparation of a claim under this endorsement.

•    such reasonable professional fees as may be payable by the Insured.
•    such other reasonable expenses reasonably incurred by the Insured and not otherwise recoverable, for preparation, proving and/or verification of claims made by the Insured under this Policy.
•    the costs of arbitration if incurred and such reasonable professional fees and other reasonable expenses related thereto.
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