Senin, 16 November 2015

Endorsement 1360 Special conditions: serial losses

CM insurance – Endorsement 1360
Special conditions: serial losses


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. Condition
1.1. The insurer shall in respect of loss or damage resulting from a fault, defect,
error or omission in design, plan, specification, material, casting or workmanship of
the same nature to property of the same type or design indemnify the insured
according to the scale specified in clause 2.

2. Limit of indemnity
2.1. After application of the deductible specified in the schedule the insurer shall
indemnify the insured for:
% of the first 2 loss amounts
% of the 3rd loss amount
% of the 4th loss amount
% of the 5th loss amount

2.2. The insurer shall not indemnify the insured for the 6th and following cases of
loss or damage resulting from causes of the same nature.
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