Senin, 16 November 2015

Endorsement 1302 Special insurance cover: underground machinery and equipment

CM insurance – Endorsement 1302 
Special insurance cover: underground machinery and equipment

This endorsement forms part of section 1
and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon.

1. Indemnification
1.1. The insurer shall indemnify the insured in respect of loss of or damage to underground machinery and equipment due to flood, inundation, landslide or rockslide, subsidence, collapse of adits, galleries, tunnels.
1.2. The indemnity provided by this endorsement shall not exceed during the period of insurance the aggregate limit of indemnity specified below.

2. Deductible
2.1. In respect of each and every occurrence of loss or damage the insurer shall not be liable for the deductible specified below.

3. Special exclusion
3.1. The insurer shall not indemnify the insured in respect of loss or damage due to abandonment of underground machinery and equipment.

Aggregate limit of indemnity:
Deductible: % of loss amount, minimum .
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