Kamis, 06 Juni 2013

INFLATION PROTECTION CLAUSE

It is hereby agreed that subject to the existing limitations, Exclusions, terms and Conditions of this policy, Section A and B is extended to include the following :
In the event of delay in completion of the insured contract or work (or part thereof) being incurred solely by reason of loss or damage to the Insured Property, cover by this Insurance shall extend to indemnify the Insured in respect of the amount by which the ultimate cost of construction of those parts of the contract or work not suffering such loss or damage and being unbuilt o incomplete at the date of loss or damage should exceed the cost of construction had no such loss or damage or consequent delay occurred.
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