bizsupreme - great eastern general, singapore · 2017-06-20 · three hundred and sixty-fi ve (365)...

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Great Eastern General Insurance Limited (Reg. No. 192000003W)

(A wholly-owned subsidiary of Great Eastern Holdings Limited)

1 Pickering Street, #01-01 Great Eastern Centre, Singapore 048659

Tel +65 6248 2888 Fax +65 6327 3080 greateasterngeneral.com

BizSupreme

Whereas the Insured by a proposal and declaration which the Insured has agreed shall be the basis of this Policy and be

deemed as incorporated herein has applied to Great Eastern General Insurance Limited (hereinafter called the Company) for

the insurance hereinafter contained, and in consideration of the payment by the Insured to the Company of the premium,

the Company will indemnify the Insured in the terms stated in the various sections of this Policy and its Schedules and

Endorsement in respect of events occurring during the Policy Period and subject always to the Terms, Exceptions and

Conditions contained therein or endorsed hereon.

IMPORTANT NOTICE

The insurance cover provided under this Policy is based on the information the Proposer has provided to Us.

Please be reminded that You must fully and faithfully declare to Us the facts that You know or ought to know, otherwise no

benefi t may be received from this Policy.

You are also requested to read this Policy. If any error or misdescription is found, the Policy should be returned to the issuing

offi ce for correction.

OAC BizSupreme Policy_GH4.indd 1OAC BizSupreme Policy_GH4.indd 1 5/3/17 9:36 AM5/3/17 9:36 AM

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DEFINITIONS

Accident or Accidental shall mean an event which is sudden, unforeseen or unexpected caused by external and visible means.

Bodily Injury shall mean physical harm caused by external, violent and visible means to the body resulting solely, directly and independently of all other causes from an Accident. This shall exclude sickness, disease or gradual physical or mental wear and tear.

Building shall mean structure of class 1 construction including internal fi xtures, fi tting, walls, gates, fences and all other structural improvements around the Premises excluding foundations.

Business Hours shall mean Insured’s usual offi ce hours and the working hours during which the Insured’s Premises are actually occupied for business purposes.

Confi ned or Confi nement shall mean confi nement for a continuous uninterrupted period of at least twenty-four (24) hours in a Hospital as a Resident in-patient upon the advice of and under the regular care and attendance of a Physician.

Disablement shall mean each of, or any of, Permanent Total Disablement, Temporary Total Disablement or Temporary Partial Disablement that results solely, directly and independently of all other causes from Bodily Injury and which occurs within three hundred and sixty-fi ve (365) days of the Accident in which such Bodily Injury was sustained.

Hospital shall mean a hospital duly registered with the government authorities which has twenty-four (24) hours a day nursing services by registered graduate nurses and organized graduate nurses and organized facilities for diagnosis and major surgery.

It shall exclude the following :-

(i) a mental institute; an institute confi ned primarily to the treatment of psychiatric disease including subnormality; the psychiatric department of a Hospital;

(ii) a place for the aged; a rest home; a place for drug addicts or alcoholics;

(iii) a health hydro or nature cure clinic; a special unit of a Hospital used primarily as a place for drug addicts or alcoholics, or a nursing, convalescent, rehabilitation, extended-care facility or rest home.

Interest Insured shall mean

a) Property Insured (applicable only to Section 1, 2 and 3)

b) Building (applicable only to Section 13)

c) daily benefi ts resulting from business interruption of or interference with the business due to loss or damage of the Property Insured under Section 1 and/or Section 2 or Section 3 and/or Building under Section 13 of this policy (applicable only to Section 4)

d) Plate Glass (applicable only to Section 7)

e) stock-in-trade whilst in the course of transit (applicable only to Section 10)

Insured Person(s) shall mean the respective person(s) named in the Schedule as Insured Person(s).

Loss of Hands or Legs shall mean loss by complete physical severance of a hand at or above the wrist or a foot at or above the ankle.

Loss of Sight means the entire and Permanent irrecoverable loss of sight having occurred in one of both eyes as certifi ed by a Physician.

Loss of Speech or Hearing shall mean the total and irrecoverable loss of speech or hearing which is beyond remedy by surgical or other treatment.

Medical Expenses shall mean the cost of medical, surgical or other remedial attention, treatment or appliances given or prescribed by a Physician and all Hospitals, nursing home and land ambulance charges incurred within twelve (12) months from the date of Accident as a direct result of the Bodily Injury from the Accident.

Money shall mean cash, bank and currency notes, cheques, money orders, postal orders, current postage stamps, unexpired units in franking machines, telephone prepaid cards and credit card sales vouchers belonging to the Insured or for which the Insured has accepted responsibility.

Money in Transit shall mean Money in direct transit in the custody of the Insured or of proprietor, partner, director or employee of the Insured.

Occupation shall mean the Insured Person’s full-time and/or part-time gainful employment and/or any other work for remuneration or profi t which the Insured Person is fi t to do by knowledge and/or training.

Partial Disablement shall mean such Bodily Injury whether of a temporary or Permanent nature which solely and directly partially disables and prevents an Insured Person from attending to a substantial part of his business or Occupation (of any and every kind) or if he has no business or Occupation, from attending to a substantial part of his usual duties.

Permanent shall mean lasting three hundred and sixty-fi ve (365) days from the date of Accident and at the expiry of that period being beyond hope of improvement.


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Physician shall mean a physician or surgeon duly licensed and practicing pursuant to the laws of the country concerned. He/ She shall not include the Insured Person or any of the Insured Person’s relative unless expressly approved by the Company.

Plate Glass shall mean fi xed glass in windows, doors, partitions, shop front and showcases including fi xed mirror for which the Insured is responsible.

Premises shall mean the Premises / Situation as described in the respective Section in the Schedule.

Property Insured shall mean contents, stock-in-trade, Insured’s furniture, fi xtures & fi ttings and renovations (excluding Buildings) of every description belonging to the Insured or for which he is legally responsible whilst contained in the Premises as described in the Schedule.

Resident in-patient shall mean an Insured Person whose Confi nement is due to Bodily Injury covered by this Policy and not merely for any form of nursing, convalescence, rehabilitation, rest or extended-care.

Total Disablement shall mean Bodily Injury whether of a temporary or Permanent nature which solely and directly totally disables and prevents as Insured Person from attending to his business or Occupation (of any and every kind) or if he has no business or Occupation, from attending to his usual duties.

SECTION 1 – FIRE & EXTRANEOUS PERILS ON CONTENTS & STOCK-IN-TRADE

This Section is operative only when specifi cally mentioned in the Schedule.

COVERThe Company will subject to the Sum Insured specifi ed in the Schedule indemnify the Insured by either payment, reinstatement, repair or replacement against physical loss of or damage to the Property Insured (excluding stock-in-trade for BizSupreme Offi ce Plan) at the Premises described in the Schedule caused directly by :-

1. fi re but excluding loss of or damage to the Property Insured occasioned by or happening through:-

(a) its own fermentation, natural heating or spontaneous combustion or by its undergoing any heating or drying process, whether directly or indirectly caused by the fi re.

(b) burning of property by order of any public authority.

2. lightning

3. explosion but excluding loss or damages to boilers, economizer or other vessel’s machinery or apparatus (other than air compressors) in which pressure is used or their contents resulting from their explosion.

4. riot, labour strikes and malicious acts of persons which shall mean:-

(a) the act of any person taking part together with others in any disturbance of the public peace not being an occurrence due to terrorism.

(b) the action of any lawfully constituted authority in suppressing or attempting to suppress any such disturbance or in minimising the consequence of any such disturbance.

(c) the wilful act of any striker or locked-out worker done in furtherance of a strike or in resistance to a lock-out.

(d) the action of any lawfully constituted authority in preventing or attempting to prevent any such act or in minimising the consequence of any such act.

But excludes loss or damage :-

(a) resulting from total or partial cessation of work or the retarding or interruption or cessation of any process or operation.

(b) occasioned by permanent or temporary dispossession resulting from confi scation, commandeering or requisition by any lawfully constituted authority.

(c) occasioned by permanent or temporary dispossession of any Building or Premises resulting from the unlawful occupation by any person of such Building or Premises.

5. impact by aircraft and other aerial devices or articles dropped from the air.

6. impact by road vehicles but excluding the fi rst S$50 of each and every loss.

7. bursting or overfl owing of water tanks apparatus or pipes from the within the Building or Premises containing the Property Insured but excluding :-

(a) loss or damage to water tanks, apparatus or pipes.

(b) loss or damage by water discharge or leaking from any automatic sprinkler installation except as provided hereafter, in no. 10.

(c) the fi rst S$200 of each and every loss.

8. earthquake, volcanic eruption, hurricane, cyclone, typhoon, windstorm and fl ood (including overfl ow of the sea) caused by any of the aforementioned perils but excluding:-

(a) consequential loss of any kind.

(b) loss or damage caused by subsidence or landslip except when this is occasioned by earthquake or volcanic eruption.


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(c) loss or damage by reason of any ordinance or law regulating the construction or repair of the Buildings.

(d) the fi rst S$200 of each and every loss.

9. full fl ood which shall mean the overfl owing or deviation from their normal channels of either natural or artifi cial water courses, bursting or overfl owing of public mains and any other fl ow or accumulation of water originating from outside the Premises containing the Property Insured, but excluding:-

(a) loss or damage caused by subsidence or landslip.

(b) the fi rst S$1,000 of each and every loss.

10. sprinkler leakage which shall mean water accidentally discharged or leaking from the automatic sprinkler installation up to but not exceeding S$100,000 or 10% of the Sum Insured whichever is lesser provided that the discharge or leak is not the result of the following causes :-

(a) repairs or alteration to the Building or Premises in which the Property Insured is located.

(b) the sprinkler installation being repaired, removed or extended.

(c) defects in construction or condition or the sprinkler installation of which the Insured is aware.

EXCEPTIONSThe Company shall not be liable in respect of loss or damage to :-

1. bullion or precious stones.

2. any curios, antiques, or works of art.

3. manuscripts, plans, drawings or designs, patterns, models or moulds of any sorts.

4. securities documents, obligations or documents of any kind, stamps, coins or paper, Money, cheques, books of account of other business books and computer system records.

5. explosives of any kind, including fi reworks.

6. animals/livestocks.

CONDITION AND WARRANTYAcquisition WarrantyWarranted that the Premises/Building containing the Property Insured are not under notice of acquisition by the relevant authorities during the currency of this Policy.

Marine ClauseThe Company shall not be liable for any loss or damage to Property Insured which at the time of the happening of such loss or damage is insured by or would but for the existence of this insurance be insured by any marine policy or policies except in respect of any excess beyond the amount paid or which would have been payable under the marine policy or policies had this insurance not been effected.

EXTENSIONS & CLAUSES1. Automatic Increase of Sum Insured

The Sum Insured for stock-in-trade is increased automatically by 25% but subject always to a maximum limit of S$100,000 for the two (2) weeks immediately preceding Chinese New Year, Hari Raya Puasa, Deepavali and Christmas Day.

2. Cost of Temporary AccommodationThe Company will indemnify the Insured for loss actually incurred by the Insured in respect of rent in consequence of the Buildings being so damaged by any causes insured as to be rendered uninhabitable but only in respect of the period necessary for reinstatement of the Premises/Building and for an amount not exceeding 15% of the Sum Insured under Section 1.

3. Heating and PowerThe use of electric, gas and other lighting, heating and power usual to trades and occupations is allowed as provided by Law or By-Law.

4. Payment on AccountIn the event of the occurrence of a loss under this insurance, the Company will make payment on account in respect of such loss to the Insured if desired, on production of a statement of claim certifi ed by the Approved Assessor as appointed by the Company.

5. PremisesThis Section extends to cover Property Insured whilst in or on platform, alley, yard and/or outbuildings on the Premises described herein during the Business Hours

6. Removal of DebrisThis Section extends to cover all costs and expenses necessarily incurred by the Insured covering cost of removal of debris of the Property Insured by this Section destroyed or damaged by Fire or by any other causes hereby insured against but subject always an amount not exceeding S$5,000 or 10% of the Sum Insured, whichever is lesser.

7. Temporary RemovalMachinery, plant equipment and furniture excluding stocks insured under this Extension is covered (limited always to S$5,000 or 10% of the Sum Insured, whichever is the lesser) whilst temporarily removed for cleaning, renovation,


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modifi cation, repair or other similar purpose elsewhere on the same or to any other Premises and in transit thereto by road, rail or inland waterway all in the Republic of Singapore.

The amount recoverable under this Extension in respect of the Property Insured so removed shall not exceed the amount which would have been recoverable had the loss occurred in that part of the Premises from which the Property Insured is temporarily removed.

This Extension does not apply to Property Insured if and so far as it is otherwise insured elsewhere nor does it apply to stock and merchandise of every description nor as regards losses occurring elsewhere other than at the Premises from which the property is temporarily removed to :-

1. motor vehicles and motor chassis.

2. property (other than machinery and plant) held in trust.

8. Tenants’ ImprovementThis Section extends to include the Insured’s interest as tenants in improvements, structural alteration and additions, decorations and fi xtures. The Company shall not be liable in respect of the above for any amount which the Insured may be able to recover from the owner of the Building.

9. Theft Inclusion during and/or after the Occurrence of a FireIt is hereby declared and agreed that notwithstanding anything contained, herein to the contrary this Section is extended to cover theft of Property Insured during and/or immediately after the occurrence of a fi re or other cause covered under the terms of this Section, but this Extension does not cover theft by employees.

BASIS OF CLAIMS SETTLEMENTSubject to Terms and Conditions of the Policy, the basis of settlement of any claim shall be the cost of repair if the Property Insured is partially damaged or the cost of replacement as new if it is totally lost or destroyed.

If the repair or replacement is not carried out within twelve (12) months from date of occurrence, the basis of settlement will revert to indemnity; ie the cost of repair/replacement less deduction for wear and tear.

AVERAGEIf at the time of any loss or damage the Sum Insured under this Section is less than 85% of the value of the Property Insured, then the Insured shall be considered as being their own insurer for the difference and shall bear a rateable proportion of the loss accordingly.

SECTION 2 – THEFT AND HOLD-UP


COVERThe Company will subject to the Sum Insured specifi ed in the Schedule indemnify the Insured by either payment, reinstatement, repair or replacement in respect of physical loss or damage to the Property Insured within premises described in the Schedule by:-

1) theft consequent upon forcible and violent entry/exit of the Premises or any attempt thereat or

2) theft by violence or threat of violence to the Insured, any proprietor, partner, director or employee of the Insured.

EXCEPTIONSThe Company shall not be liable in respect of:-

1) damage to Plate Glass or any decoration or lettering on such Plate Glass.

2) loss or damage directly and indirectly occasioned by or happening through or in consequence of the wilful act, procurement, connivance or assistance in any way whatsoever of the Insured or any member of the Insured’s household or any proprietor, partner, director or employee of the Insured.

3) loss or damage to deeds, bonds, bills of exchange, promissory note, cheques, money or securities for money, coins, medals, stamps, stamp collection, jewellery, watches, furs, precious metals, precious stones or articles composed of any of them, documents of title to property, contracts or other documents, business books, manuscripts, curios, antiques sculptures, rare books, plans, pattern, mould models or designs, telephone prepaid cards.

4) loss or damage happening whilst the Property Insured within the Premises is left unattended for a continuous period exceeding fourteen (14) consecutive days and nights.

5) loss or damage occasioned by fi re or explosion.

6) consequential loss or damage or liability of any kind or description not specifi cally mentioned.

7) loss of damage happening whilst the Premises is lent, let or sublet out by the Insured.


The Sum Insured for stock-in-trade is increased automatically by 25% up to a maximum limit of S$100,000 for the two (2) weeks immediately preceding Chinese New Year, Hari Raya Puasa, Deepavali and Christmas Day.

2. First Loss ClauseThis Section is issued on a “fi rst loss” basis on the Property Insured described in the Schedule up to the amount stated therein.


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3. Personal EffectsThe Property Insured is extended to cover clothing and/or personal effects (except jewellery, watches, furs, precious metals, precious stones) of the Insured and any proprietor, partner, director or employee of the Insured as a result of any theft or attempted theft involving violence or threat of violence to the Insured or any proprietor, partner, director or employee of the Insured happening in the course of their duties in the business of the Insured.

In no event shall payment under this Extension exceed S$200 in respect of any one person for any loss. Payment is subject to a maximum aggregate of S$1,000 any one period.

BASIS OF CLAIMS SETTLEMENTSubject to Terms and Conditions of the Policy, the basis of settlement of any claim shall be the cost of repair if the Property Insured is partially damaged or the cost of replacement as new if it is totally lost or destroyed.

If the repair or replacement is not carried out within twelve (12) months from date of occurrence, the basis of settlement will revert to indemnity; ie the cost of repair/replacement less deduction for wear and tear.

SECTION 3 – ALL RISKS ON CONTENTS & STOCK-IN-TRADE


COVERThe Company will subject to the Sum Insured specifi ed in the Schedule indemnify the Insured by either payment, reinstatement, repair or replacement against physical accidental loss of or damage to the Property Insured (excluding stock-in-trade for BizSupreme Offi ce Plan) at the Premises described in the Schedule occurring during the Policy Period.

EXCEPTIONSThe Company will not indemnify the Insured in respect of :-

1. The fi rst S$1,000 each and every loss in respect of full fl ood and S$250 each and every loss in respect of others

2. Loss or damage caused by or arising from :-

(a) any disappearance or shortage revealed only at the time of stock-taking or the making of an inventory or not traceable to a specifi c event

(b) fraud or dishonesty of the Insured’s agent or employees

(c) consequential loss or damage of any kind or description

(d) wear and tear, the process of cleaning, dyeing, altering, repairing or restoring any article, the action of light or atmospheric conditions, moth, mildew, corrosion, shrinkage, inherent defect or diseases, natural deterioration or natural putrefaction, oxidation, fading tree roots, evaporation, changes in fl avor, color, temperature, humidity or texture or any other gradual operating cause.

(e) mechanical or electrical breakdown or derangement

(f) the explosion or rupture of boilers, economisers, turbines or other vessels, machinery or apparatus in which power is used or their contents

(g) erosion, settling, cracking, seepage resulting from earth movements (other than earthquake, subterranean fi re or volcanic eruption), shrinkage or expansion of buildings or foundations, subsidence, landslip or ground heave

(h) vermin insects, termites, scratching, denting, chipping or defacing

(i) latent defects, faulty workmanship, structural defects or faulty design of the Property Insured.

(j) the cessation, interruption or retarding of any process or operation or work whether total or partial

(k) delay, confi scation or detention by customs or by other government offi cials or authorities

(l) any cause whilst being transported by rail, road, sea (including loading and unloading) or whilst in the course of transit away from the Premises specifi ed in the Schedule

(m) any cause whilst the Premises are left without an inhabitant actually in them for a continuous period exceeding fourteen (14) consecutive days and nights unless written consent has been obtained from the Company

(n) false programming, punching, labelling or inserting, inadvertent cancelling of information or discharging of data carrying media, and loss of information caused by magnetic fi elds

(o) loss, damage or expense recoverable under the maintenance agreement(s) or which would be so recoverable but for a breach of the Insured’s obligation under the maintenance agreement(s)

3. Loss or damage to:-

(a) gold, silver, platinum or other precious metals and alloys articles, jewellery, watches, pearls, set or unset precious stones or furs, garments trimmed with furs

(b) currency notes, deeds, bonds, bills of exchange, promissory notes, cheques, money or securities for money, medals, coins, stamps, stamp collections, or other documents of value, including documents of title to property contracts or other documents, business books, computer system records, manuscripts curios (except as provided under this Section), sculptures, antiques, rare books, plans patterns, moulds, models or designs, telephone prepaid cards.

(c) articles of a brittle nature unless such damages arises from the fi re or theft

(d) property stored away from the Premises except as provided otherwise in this Section


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(e) property undergoing the imposition of abnormal conditions directly or indirectly resulting from testing, intentional overloading or experiments

(f) electrical equipment or wiring caused by electrical current (other than by lightning) but the Company shall be liable for the damage to other Property Insured under this Section and resulting from such cause

(g) watercraft, aircraft, locomotives, rolling stock, motor vehicles, motorcycles and trailers

(h) property (except signs) in the open or being processed, constructed, erected, installed, altered, dismantled, removed or re-sited including related material and supplies

(i) empty Premises awaiting or undergoing demolition

(j) explosives of any kind, including fi reworks

(k) animal/livestocks

(l) records, fi lms or tapes other than by Fire or Theft (and then only for the value as unused materials)

(m) accessories and spare parts of machinery and/or equipment unless the machine and/or equipment is stolen at the same time

(n) property which at the time of happening of such loss or damage is insured by or would but for the existence of this Policy be insured by any Marine Policy or Policies except in respect of any excess beyond the amount which would have been payable under the Marine Policy or Policies has this insurance not been effected


The Sum Insured for stock-in-trade is increased automatically by 25% for subject always to a maximum limit of S$100,000 for the two weeks (2) immediately preceding Chinese New Year, Hari Raya Puasa, Deepavali and Christmas Day.

2. Cost of Temporary AccommodationThe Company will indemnify the Insured for loss actually incurred by the Insured in respect of rent in consequence of the Building being so damaged by any causes insured as to be rendered uninhabitable but only in respect of the period necessary for reinstatement of the Premises/ Building and for an amount not exceeding 15% of the Sum Insured under Section 3.

3. Full Theft ExtensionIt is hereby declared and agreed that this Policy is extended to cover loss of or damage to the Property Insured by theft without violent and forcible entry into the Premises.

The indemnity herein provided shall not apply to nor include :-

(a) loss or damage caused by or resulting from infi delity or any dishonest act on the part of the insured or other parties of interest or his or their employees or agents or any person or persons to whom the Property Insured may be entrusted.

(b) unexplained loss mysterious disappearance of loss or shortage upon taking inventory.

The liability of the Company under this Extension shall not exceed the amount as stated in the Schedule, in the aggregate during the policy period and the insured shall bear the excess of S$250 for each and every loss under this Extension.

4. Heating and PowerThe use of electric, gas and other lighting, heating and power usual to trades and occupations is allowed as provided by Law or By-Law.

5. Payment on AccountIn the event of the occurrence of a loss under this insurance, the Company will make payment on account in respect of such loss to the Insured if desired, on production of a statement of claim certifi ed by the Approved Assessor as appointed by the Company.

6. Personal EffectsThe Property Insured is extended to cover clothing and/or personal effects (except jewellery, watches, furs, precious metals, precious stones) of the Insured and any proprietor, partner, director or employee of the Insured as a result of any theft or attempted theft involving violence or threat of violence to the Insured or any proprietor, partner, director or employee of the Insured happening in the course of their duties in the business of the Insured.

In no event shall payment under this Extension exceed S$200 in respect of anyone person for any one loss. Payment subject to a maximum aggregate of S$1,000 any one period.

7. PremisesThis Section extends to cover Property Insured whilst in or on platform, alleys, yard and/or outbuildings on the Premises described herein during the Business Hours.

8. Removal of DebrisThis Section extends to cover all costs and expenses necessarily incurred by the Insured covering cost of removal of debris of the Property Insured by this Section destroyed or damaged by Fire or by any other causes hereby insured against but subject always an amount not exceeding S$5,000 or 10% of the Sum Insured, whichever is the lesser.

9. Temporary RemovalMachinery, plant equipment and furniture excluding stocks insured under this Extension is covered (limited always


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to S$5,000 or 10% of the Sum Insured, whichever is the lesser) whilst temporarily removed for cleaning, renovation,

modifi cation, repair or other similar purpose elsewhere on the same or to any other Premises and in transit thereto by

road, rail or inland waterway all in the Republic of Singapore.

The amount recoverable under this Extension in respect of the Property Insured so removed shall not exceed the

amount which would have been recoverable had the loss occurred in that part of the Premises from which the Property

Insured is temporarily removed.

This Extension does not apply to Property Insured if and so far as it is otherwise insured elsewhere nor does it apply to

stock and merchandise of every description nor as regards losses occurring elsewhere other than at the Premises from

which the property is temporarily removed to :-

1. motor vehicles and motor chassis

2. property (other than machinery and plant) held in trust.

10. Tenants’ ImprovementThis Section extends to include the Insured’s interest as tenants in improvements, structural attractions and additions,

decorations and fi xtures. The Company shall not be liable in respect of the above for any amount which the Insured may

be able to recover from the owner of the Building.

11. Theft Inclusion during and/or after the Occurrence of a FireIt is hereby declared and agreed that notwithstanding anything contained herein to the contrary this Section is extended

to cover theft of Property Insured during and/or immediately after the occurrence of a fi re or other caused covered

under the terms of this Section, but this Extension does not cover theft by employees.

BASIS OF CLAIMS SETTLEMENTSubject to Terms and Conditions of the Policy, the basis of settlement of any claim shall be the cost of repair if the Property

Insured is partially damaged or the cost of replacement as new if it is totally lost or destroyed.

If the repair or replacement is not carried out within twelve (12) months from date of occurrence, the basis of settlement will

revert to indemnity; ie the costs of repair/ replacement less deduction for wear and tear

AVERAGEIf at the time of any loss or damage the Sum Insured under this Section is less than 85% of the value of the Property Insured,

then the Insured shall be considered as being their own insurer for the difference and shall bear a rateable proportion of the

loss accordingly.

SECTION 4 – DAILY BENEFITS


COVERIf any property used by the Insured for the purposes of the business is subject to loss or damage insured under Section

1 and/or 2 or Section 3 and/or Section 13 of this policy and this insured loss or damage, referred to for the purposes of

this Section only as Damage, results in the business interruption of or interference with the business. The Company shall

indemnify the Insured up to the Sum Insured as stated in the Schedule.

BASIS OF CLAIMS SETTLEMENTLoss payable under this Section shall be the daily amount of daily benefi t as specifi ed in the Schedule multiplied by the

actual number of days the Insured’s business is totally suspended from operation but subject to a maximum of one hundred

(100) days.

No indemnity shall be payable if the damaged or destroyed property is not rebuilt, repaired or replaced or the interruption

period is less than twenty-four (24) hours.

EXTENSIONS1. Business Interruption due to Food & Drinks Poisoning

This policy is extended to indemnify the Insured in respect of the insured amount as stated under Section 4 in the Policy

Schedule, which would otherwise be uninsured if not for this Extension, resulting directly from the interruption of or

interference with the Business in consequence of the closure or evacuation of the Premises by order of the relevant

Public Authorities consequent upon poisoning directly caused by the consumption of food or drink provided at the

Insured Premises.

The liability of the Company shall in no case under this Extension exceed the insured amount stated in the Policy

Schedule any one loss and in the aggregate during the policy period, up to maximum period of one hundred (100) days

from the date of closure.

2. Denial of AccessLoss as insured in this Policy resulting from interruption of interference with the business in consequences of Damage

to property in the vicinity of the Premises which shall prevent or hinder the use thereof or access thereto, whether the

property of the Insured shall be damaged or not, shall be deemed to be loss resulting from Damage.


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3. Outbreak of Human Infectious or Contagious DiseaseThis Extension will cover the loss resulting from the closure of the insured Premises by the order of a competent public authority of Singapore due to :

(a) human infectious or contagious disease occurring at the Premises, or

(b) the outbreak of a notifi able human or infectious or contagious disease

The liability of the Company shall in no case under this Extension exceed the insured amount as stated under Section 4 in the Policy Schedule any one loss and in the aggregate during the policy period, up to a maximum period of one hundred (100) days from the date of the closure.

SECTION 5 – PUBLIC LIABILTY


COVERThe Company will indemnify the Insured against all sums which the Insured shall become legally liable to pay compensation in respect of :-

1. Accidental Bodily Injury (including death or disease) to third parties

2. Accidental loss of or damage to property belonging to third parties

happening within the Territorial Limits in connection with the Business of the Insured and occurring during the Policy Period.

The Company will also pay :-

1. legal costs recoverable by any claimant from the Insured.

2. costs and expenses incurred with written consent of the Company.

Provided always that the Company will not indemnify the Insured in respect of any liability :-

1. arising from any action for compensation in the fi rst instance brought in the Courts of Law outside Singapore.

2. costs and expenses recoverable by any claimant from the Insured which are not incurred in or recoverable in Singapore.

LIMIT OF INDEMNITYThe liability of the Company for all compensation payable : -

1. shall not exceed the Limit of Indemnity stated in the Schedule in respect of any one occurrence or series of occurrences consequent upon one original cause in respect of all Bodily Injury, loss or damage.

2. is unlimited in any one Policy Period in respect of all occurrences.

EXCEPTIONSThe Company shall not indemnify the Insured in respect of:-

1. The fi rst S$250 of each and every loss of in respect of third party property damage.

2. Bodily Injury to of any person under a contract of service or apprenticeship with the Insured if such liability is in respect of injury arising out of and in the course of employment of such person by the Insured.

3. any sum payable by the Insured under any legislation relating to occupational injury or illness.

4. loss of or damage to property belonging to or in the custody or control of the Insured or any member of the Insured’s family or household or any proprietor partner, director or employee of the Insured or being that part of any property on which the Insured or any member of the Insured’s family or household or any proprietor, partner, director or employee of the Insured is or has been working if that loss of or damage results directly from such work.

5. any liability caused by or in connection with the ownership, possession or use of, by or on behalf of the Insured: -

(a) any mechanically propelled vehicle licensed for road use or for which compulsory insurance or security is required by any road traffi c legislation or trailer attached thereto or the loading or unloading of such vehicle or trailer,

(b) any lift, elevator, escalator, hoist or crane.

(c) ship, vessel craft of aircraft or the loading or unloading thereof.

6. any liability caused by or through or in connection with any goods, commodity, article or things sold, supplied, repaired, altered, serviced, installed or treated by the order of the Insured.

7. liability in respect of injury or damage caused by or through or in connection with :

(a) any advice or treatment given or prescribed or due to any professional error, neglect or omission.

(b) any fault, error or omission in any design, plan or specifi cation.

(c) vibration or by the removal or weakening of or interference with support to land, building or any other property.

8. (a) liability for Bodily Injury or loss of or damage to or loss of use or property directly or indirectly caused by seepage, pollution or contamination.

(b) the cost of removing, nullifying or cleaning up seepage, polluting or contaminating substances.


( 10 )

9. fi nes, penalties, punitive or exemplary damages.

10. liability for loss of or damage to property caused by or resulting from the explosion of any boiler or apparatus owned or used by the Insured which is intended to operate under internal pressure due to steam.

11. liability assumed by the Insured under any contract or agreement whether written or verbal or implied unless such liability would have attached notwithstanding any such contractor agreement.

12. any contract or project that is/are already specifi cally insured.

EXTENSIONS & CLAUSES1. All Plant used in connection with the Business

This Section is extended to indemnify liability for Accidental death or Bodily Injury or physical damage to property as defi ned in this Section caused by or arising out of or in connection with ownership possession or use by or on behalf of the Insured of any plant of machinery but excluding liability under any Legislation governing the use of motor vehicles.

2. Children/Student deemed as Third Parties (Applicable only for BizSupreme Education Plan)It is hereby declared and agreed that children and/or student under the care, custody and control of the Insured whilst at the Insured’s Premises shall be deemed as third parties. The liability of the Company under this Section shall not exceed the limit of S$50,000 any one occurrence and in aggregate.

3. Fire and ExplosionThis Section is extended to cover the Insured’s legal liability in respect of injury or damage caused by or in connection with or arising from fi re or explosion.

4. Foods and Drinks PoisoningThis Section is extended to cover the Insured’s legal liability in respect of death or Bodily Injury caused by food or drink poisoning due to the presence of foreign or deleterious matter in food or drink or utensils sold or supplied by the Insured and happening at the Insured’s Premises at the said Premises as specifi ed in the Schedule.

Provided always that this Extension is given on the expressed conditioned that the Company shall not be liable unless the Insured shall at all times take every possible precaution to ensure that such food and/or drink and/or utensils are in good condition and free from contamination and fi t for human consumption.

The liability of the Company for this Extension shall not in any case exceed the maximum limit of S$250,000 any one Accident and in the aggregate.

5. Guest EffectsIt is hereby declared and agreed that this Section extends to cover legal liability of the Insured in respect of loss or damage to personal effects belonging to the Insured’s guest up to a limit of S$250 any one guest and S$1,000 in respect of any one occurrence.

6. Indemnity to Directors and ExecutivesIf any claim is made upon any Director and/or Executive of the Insured and the claim is such that if it is made upon the Insured, the Insured would be entitled to indemnity under this Section, the Company will in the terms of and subject to the limitations of this Section indemnify the said Director and/or Executive of the Insured in respect of such claim.

PROVIDED that: -

(a) any Director and/or Executive is not entitled to indemnity under any other policy or policies

(b) this Extension shall not apply to or include liability in respect of injury to any person under a contract of service or apprenticeship with the Director and/or Executive where the injury arises out of and in the course of such person’s employment or service with the Director and/or Executive

(c) such Director and/or Executive shall as though he were the Insured observe, fulfi ll and be subject to the Terms, Exceptions, limits and Conditions of this Section in so far as they can apply

(d) the Extension by this Endorsement shall not operate to increase the Company’s liability as set forth in the Schedule under the heading of Limit of Indemnity beyond the amount or amounts for which the Company would be liable if this Section were not so extended.

7. Loading and UnloadingThis Section is extended to cover the Insured’s legal liability to pay for compensation in respect of :-

(a) Accidental death or Bodily Injury to any person

(b) Accidental damage to property

caused by the fault or negligence of the Insured or the Insured’s employee during their loading and unloading operations or delivery or collection from or to the stationery vehicles.

8. Neon and Advertising SignThis Section extends to cover liability arising out of the Accidents happening or caused in connection with Neon/ Advertising Signs owned by the Insured.

9. Private Work for Directors and ExecutivesThis Section is extended to indemnify the Insured and any Director or Executive of the Insured in respect of the employment on private duties of any employee of the Insured by such Director or Executive.


( 11 )

PROVIDED that :-

(a) such Director and/or Executive is not entitled to indemnity under any other policy or policies

(b) this Extension shall not apply to or include liability in respect of injury to any person under a contract of service or apprenticeship with the Director and/or Executive where the injury arises out of and in the course of such person’s employment or service with the Direct and/or Executive

(c) such Director and/or Executive shall as though he were the Insured observe, fulfi ll and be subject to the Terms, Exceptions, limits and Conditions of this Section in so far as they can apply

(d) this Extension shall not operate to increase the Company’s liability as set forth in the Schedule under the heading of Limit of Indemnity beyond the amount of amounts for which the Company would be liable if this Section were not so extended.

10. Social, Recreational and Welfare ActivitiesThis Section is extended to indemnify the Insured in respect of the Insured’s legal liability for Accidental Bodily Injury and property damage as defi ned in this Section caused by or arising out of and in connection with any social, recreational or welfare activities organized, supervised and managed by the Insured for its invited participants including employees’ their families and friends anywhere in Singapore.

The word “Insured” wherever appearing includes as an Insured any person who is a member of the organizing or management committee for such social, recreational or welfare activities but only while acting within the scope of their duties as such.

In the event of a claim, the Company will not raise the defence that such participants and employees are not third parties.

SECTION 6 - MONEY


COVERThe Company will indemnify the Insured in the event of loss of Money occurring during the Policy Period:-

1. by any cause whatsoever whilst in transit anywhere in Singapore except in the course of post.

2. (a) by theft consequent upon forcible and violent entry of the Premises or any attempt thereat.

OR

(b) by theft by violence or threat of violence to the Insured, any proprietor, partner, director or employee of the Insured whilst in the Premises or proprietor’s, partner’s, director’s residence provided such Money is kept in a locked safe, cash register or locker drawer after Business Hours.

The Company will indemnify the Insured against such loss or damage provided that the liability of the Company for any one loss shall not exceed the Limits of Liability specifi ed in the Schedule.


1. shortages due to error or omission in receipts, payments or accounting.

2. loss due to fraud or dishonesty of the Insured, any proprietor, partner, director, or employee of the Insured.

3. loss from any unattended vehicle.

4. loss arising from depreciation in value or due to dishonoured cheques or to the use of counterfeit money.

5. loss from gaming, amusement vending machines or public telephones.

6. loss suffered as a result of a business transaction.

7. loss or damage to Money in the care, custody or control of professional carriers or common carriers.

8. loss of Money (except crossed cheques, postal orders and crossed money orders) from any room left unattended and unlocked unless contained in a locked safe or locked drawers of which the key and/or combination code has removed from such room.

9. loss due to Money entrusted to any person other than the Insured or proprietor, partner, director or employee of the Insured.

10. loss of Money from lock drawers, safes or strongrooms following the use of keys or combination numbers unless such keys or combination codes have been obtained by threats or violent means.

CONDITIONS1. The Insured shall keep a daily record of the amount of cash and/or banknotes contained in the safe, drawer, strong

room, cash register and that shall be deposited in a secured place other than the said safe, drawer, strongroom, cash register and shall be produced as documentary evidence in the event of a claim arising hereunder.

2. The safe, drawer, strongroom, cash register or other depository containing the Money shall be kept locked at all times after Business Hours.


( 12 )

The keys of the safe/drawer/strongroom/cash register shall at all times be kept in the person custody of the Insured or a responsible offi cial or employee and the holder of the keys shall remove all the keys from the Premises whenever the Premises are closed or left unattended.

EXTENSIONS & CLAUSESAutomatic Increase of Limit of LiabilityIt is hereby declared and agreed that the Limit of Liability for any one loss shall be increase automatically by 50% up to maximum limit of S$5,000 for three (3) days running consecutively and immediately following Chinese New Year, Hari Raya Puasa, Deepavali and Christmas Day.

SECTION 7 – PLATE GLASS


COVERThe Company shall compensate the Insured for Accidental loss or damage by either payment reinstatement or replacement to Plate Glass defi ned hereunder being part of the Insured’s Premises or within the insured Premises subject to the Sum Insured stated in the Schedule.

PROVISO1. The Insured shall take all reasonable precautions for the safety of the Plate Glass including salvage glass.

2. The Company shall not be liable for any loss of or damage to the Plate Glass hereby insured if the Premises are unoccupied unless the Company shall have been previously notifi ed of such alteration or unoccupancy.

EXCEPTIONSThe Company shall not be liable in respect of loss of or damage :-

1. resulting from cracks or imperfect glass unless specifi cally declared as such and specifi cally included in the Schedule.

2. occurring in transit to or while being affi xed to or removed from or during the course of alteration on the Insured’s Premises.

3. occasioned directly and indirectly by or happening through or in consequence of any wilful act, procurement, connivance or assistance in any way whatsoever of the Insured or any member of the Insured’s household or any proprietor, partner, director or employee of the Insured.

4. due to dilapidation of frames or frameworks.

5. relating to the cost of removing or replacing fi xtures or fi ttings or other obstructions.

6. due to superfi cial damage by scratching or window slashing unaccompanied by actual breakage through the entire thickness of the Plate Glass.

7. relating to interruption or delay or loss of business or damage of any kind occurring during the time between the occurrence of a breakage and the replacement of the Plate Glass.

8. due to defects in framework, beading or other fi ttings.

9. relating to the cost of lettering, painting, embossing, silvering or other ornamental work, breakage of or damage to neon/advertising signs.

10. due to any consequence of strike or riot.

EXCEPTIONS & CLAUSES1. Cost of Temporary Protection

This Section is extended to cover the cost of temporary protection up to a limit of S$2,500 reasonably necessary for the safety and protection of the Premises pending repairs/replacement of damage.

2. First LossThis Section is issued on a “fi rst loss” basis on the Interest Insured described in the Schedule up to the amount stated therein.

SECTION 8 – PERSONAL ACCIDENT


COVERThe Company will compensate the Insured Persons or their legal representatives if any Insured Person(s) named in the Schedule shall during the Policy Period sustain Accidental Bodily Injury and such injury shall within twelve (12) calendar months solely and independently of any other cause result in

1. death or

2. Permanent Disablement according to the Schedule of Benefi ts.


( 13 )

This Section shall not provide cover for any Insured Person who has attained the age of seventy (70) years.

THE SCHEDULE OF BENEFITS

Compensation Percentage of Sum Insured/Benefi t Amount

1. Death 100%

2. Total and Permanent Disablement

(a) Total and Permanent Disablement fromengaging in or attending to employment or Occupations of any and every kind

100%

(b) Injuries resulting in total paralysis or being permanently bedridden 100%

3. Partial Permanent Disablement involving Total and Permanent Loss of :-

(a) one or two legs one or both hands arm above the elbow arms at or below the elbow leg above the knee leg at or below the knee

100%100%100%100%100%100%

(b) all sight in one or both eyes 100%

(c) hearing in both ears hearing in one ear speech

75%15%50%

(d) sight in one eye except perception of light lens of one eyes

50%50%

(e) four fi ngers and thumb of one hand four fi ngers of one hand

50%40%

thumb - both phalanges - one phalanx

index fi ngers - three phalanges - two phalanges - one phalanx

middle fi ngers - three phalanges - two phalanges - one phalanx

ring fi ngers - three phalanges - two phalanx - one phalanx

little fi ngers - three phalanges - two phalanges - one phalanx

metacarpals - fi rst or second - third, fourth or fi fth

toes - all of one foot - great, both phalanges - great, one phalanx - other than great, if more than one toe lost, each

25%10%

15%8%4%

10%4%2%

8%4%2%

7%3%2%

3%2%

17%5%2%3%

Permanent, total and irrecoverable loss of use of member or entire physical loss caused by physical separation shall be treated as loss of member. In respect of other Permanent Disablement not specifi ed above other than loss of sense of taste or smell, the amount of compensation payable for such Disablement shall be determined (without reference to the profession or Occupation of the Insured Person) by comparison with the percentages shown in the above Schedule of Benefi ts and in proportion to the degree of Disablement as assessed by the Company’s medical advisors.

The decision of the Company on the amount of compensation payable shall be conclusive and binding and shall not be subject to appeal or review.

PROVISOS1. The total amount payable in any one Policy Period for any one or more Insured Persons shall not exceed in the

aggregate 100% of the Sum Insured/ Benefi t Amount.

2. Payment of any compensation caused by an Accident during the Policy Period shall be made in accordance with the Schedule of Benefi ts in respect of the specifi c loss or injury caused solely and directly by such Accident without reference to or taking into account any previous loss or injury suffered by the Insured Person whether during or outside the Period of Insurance.

3. No benefi ts shall be payable for any specifi c injury or disability where such specifi c injury or disability forms part of another injury or disability for which a greater compensation is payable

Total and Permanent Disablement shall be payable only on certifi cation by a Physician of Total and Permanent Disablement as defi ned.


( 14 )

EXCEPTIONSThe Company shall not be liable in respect of Bodily Injury directly or indirectly, wholly or partly caused by arising from or in

consequence of or contributed by :-

1. any physical defect, infi rmity or medical condition which existed at or prior to the date of this insurance.

2. pregnancy or childbirth, miscarriage or abortion or any complication thereof.

3. insanity of any degree, conversion disorders, psychosomatic illnesses or nervous or mental disorders of any kind.

4. Intoxication by alcohol, narcotics or drugs unless it is proven that the drug was taken in accordance with proper medical

prescription other than for the treatment of drug addict, alcoholism or mental illness.

5. fl ying in or on or entering into or descending from any aircraft other than a fully licensed passenger carrying aircraft in

which the Insured Person is travelling as a passenger other than as a member of the crew and not for the purpose of

undertaking any trade or technical operation therein or thereon.

6. participation in winter sports, ice hockey, water-ski jumping, polo, hunting, mountaineering, parachuting, racing of any

kind other than on foot, wrestling, boxing, motor competitions.

7. motor-cycling (whether as a rider or passenger)

8. venereal diseases, AIDS and all illness or diseases associated with the Human Immuno Defi ciency Virus (HIV), anthrax

blood poisoning, erysipelas ptomaine poisoning, septicaemia pyaemia tetanus hernia.

9. suicide (whether felonious or not) self injury or any attempt threat, illegal and/or wilful acts of the Insured Person(s), their

executors, administrators, legal heirs, or personal representatives.

CONDITION1. The Insured Person should on sustaining Bodily Injury engage the service of a Physician and shall undergo treatment

that such Physician shall deem necessary.

2. The Insured Person shall as often as required by the Company submit to medical examination at the expense of the

Company.

3. The Company shall in the event of the death of the Insured Person be entitled to have a postmortem examination at its

own expenses.

EXTENSIONSMedical ExpensesThe Company will indemnify the Insured Person(s) or their legal representatives for Medical Expenses up to a maximum of

S$500 in the aggregate any policy period for any Insured person notwithstanding that the Bodily Injury sustained does not

result in death or Total and Permanent Disablement. The Company shall reimburse Medical Expenses incurred reasonably

and necessarily on treatment by a registered chinese Physician, acupuncturist, bonesetter and chiropractor arising from

Bodily Injury up to a maximum of S$150 each and every Accident subject to the overall limit under this Extension.

SECTION 9 – DAILY-IN-HOSPITAL INCOME


COVERThe Company shall pay a Daily-In-Hospital Income Benefi ts of S$100 for each complete day (24 hours) of Hospital

Confi nement from the fourth day onwards up to a maximum of sixty (60) days, if the Insured Personal is necessarily Confi ned

in a Hospital as a result of Accidental Bodily Injury of which a claim is payable under Section 8 – Personal Accident of this

Policy.

PROVISOS1. The total amount payable in any one Policy Period for any one or more Insured Persons shall not exceed in the

aggregate 100% of the Sum Insured/ Benefi t Amount.

SECTION 10 – GOODS IN TRANSIT


COVERThe Company will subject to the Sum Insured specifi ed in the Schedule indemnify the Insured by either payment, reinstatement,

repair or replacement in respect of loss of or damage to the stock-in-trade under Section 1 or 3 by any fi re theft or Accident

whilst in the course of transit by any vehicle owned by or hired by the Insured from the time of commencement of loading of

the insured stock-in-trade onto the vehicle at the loading point at place of despatch and continues throughout the normal

course of transit until fi nally delivered from the conveying vehicle to the fi nal destination including unloading, within the main

island of Singapore.


( 15 )

CONDITION1. All vehicles conveying the property shall be maintained in an effi cient and roadworthy condition.

2. The Insured Person shall act with reasonable despatch in ensuring the prompt loading, proper packing, lashing, transportation and unloading of the insured equipment and stock-in-trade in all circumstances.

3. Whenever any vehicle containing the insured equipment and stock-in-trade are left unattended,

a) all doors and the boot shall be locked and the windows and other openings shall be securely closed and

b) any protective devices shall be put into

4. All locking devices and any protective appliances shall be properly and adequately maintained.


a) the fi rst S$200 of each and every claim

b) loss of use of the insured equipment and stock-in-trade or consequential loss or damage of any kind of description whatsoever

c) loss or damage caused by contamination pollution leakage wear and tear rust corrosion moth vermin termites or other insects fungus rot gradual deterioration deformation or distortion shrinkage evaporation loss of weight change in fl avor color texture or fi nish action of light inherent vice or latent defect

d) loss of use of the insured equipment and stock-in-trade at the time of the loss is contained in any vehicle than being used outside the normal course of the Insured’s business for social domestic or pleasure purposes

e) loss or damage arising while the vehicle(s) is(are) left unattended overnight

f) loss or damage caused by wilful act of the Insured’s employees or wilful act of any other person(s) with the connivance of the employees

g) mysterious disappearance, unexplained loss or shortage due to clerical or accounting error

h) loss or damage caused by explosives or goods of a dangerous nature deeds bonds bills of exchange promissory notes money securities for money stamps documents of title to property precious stones or jewellery carried by vehicle

i) breakage of china glass earthenware tiles and tiled fi re-places marble clocks scientifi c picture works of art and the like unless caused by an Accident to the vehicle in which such property is being carried or an Accident occurring in the course of loading or unloading of the vehicle in which such property is to be or has been carried or any object falling into the vehicle in which such property is being carried

j) loss or damage arising from mechanical or electrical breakdown or derangement not arising from external impact.

SECTION 11 – DETERIORATION OF STOCKS


COVERThe Company will indemnify the Insured for the loss or damage or deterioration of frozen food due to any unforeseen and sudden physical loss of or damage directly due to the following events:-

1. Accidental damage to refrigerating equipment

2. failure of the public electricity supply

3. Accidental escape of refrigerant gas

PROVISOThe Insured shall maintain the refrigerating equipment in good working order and shall at all times take precautions to keep it in proper state of repair.

EXCEPTIONSThe Company shall not be liable in respect of loss or damage:-

1. due to any deliberate act of the Insured or member of your household or business staff or any of your employee.

2. arising as a result of shrinkage, inherent defects or diseases, natural deterioration or natural putrefaction.

3. arising within the fi rst twelve (12) hours of the Accident.

4. due to improper storage, damage to packing material, insuffi cient circulation of air, non-uniformity of temperature.

5. deliberate act of any power supply authority .

6. the withholding or restricting of power by such authority.

7. consequential loss of any kind.


( 16 )

SECTION 12 – FIDELITY GUARANTEE


COVERThe Company will indemnify the Insured for the loss of money or other property belonging to the Insured or for which the Insured is legally responsible as the direct result of any act of fraud or dishonesty committed by any employee described in the proposal.

PROVIDED that :-

1. the Company shall not be liable in respect of any act of fraud or dishonesty unless

(a) it is committed during the Policy Period and during the uninterrupted service of the employee with the Insured, and

(b) it is discovered and notifi ed to the Company within three (3) months of it being committed or three (3) months after the termination of this Section whichever be the earlier, and

2. the liability of the Company shall not exceed

(a) in respect of any employee the amount stated against the limit of indemnity any one occurrence

(b) in respect of all claims under this Section should not exceed the limit of indemnity any one policy period and

3. notwithstanding the above, in the event of an occurrence giving rise to a claim under this Section and also to a claim under any other policy of the Company, the liability of the Company shall not exceed the limit of Indemnity under this Section or under such other policy whichever is the greater amount.

EXCEPTIONSThe Company shall not be liable

1. in respect of any act of fraud or dishonesty committed by the relevant employee unless such act of fraud or dishonesty is discovered within three (3) months after the death, dismissal or retirement of the relevant employee

2. if the nature of the Business of the Insured or the duties or conditions of employment be changed or the remuneration to the relevant employee be reduced without the sanction of the Company or if the precautions and checks for securing accuracy of accounts shall not be duly observed

3. to pay more than one claim for the relevant employee under this Section

LIMITS OF INDEMNITYAs stated in the Schedule any one occurrence and in the aggregate for the Policy Period.

CONDITION1. This Section shall be void as to any of the Insured employees that are covered :-

(a) if any suppression or misstatement of any fact affecting the risk of the Company be made at the time of effecting this Section or subsequently

(b) if the Insured or his representative shall continue to entrust the employee with money or any other property whatsoever after having discovered the commission at any time by the said employee of any act of fraud or dishonesty.

2. The Company shall not be liable for any loss, due to an act of fraud or dishonesty, committed by the employee subsequently to the date upon which knowledge of any previous act of fraud or dishonesty, committed by the same employee, shall have come to the knowledge of the Insured or to any representative of the Insured to whom is entrusted the duty of superintendence over the said employee.

Any monies of the employee in the hands of the Insured and any monies which but for any act of fraud or dishonesty would have been due to the employee from the Insured shall be deducted from the amount of the loss before a claim is made under this Section.

The Insured and the Company shall share any other recover (excluding insurance and reinsurance and any counter security taken by the Company) made by either on account of any loss in the proportion that the amount of loss borne by each bears to the total amount of loss.

SECTION 13 – FIRE & EXTRANEOUS PERILS ON BUILDING


COVERThe Company will subject to the Sum Insured specifi ed in the Schedule indemnify the Insured by either payment reinstatement repair or replacement against loss of or damage to the Building at the Premises described in the Schedule or any part of such Building caused by :-

1. fi re but excluding loss of or damage occasioned by or happening through:-

(a) its own fermentation, natural heating or spontaneous combustion or by its undergoing any heating or drying process whether directly or indirectly caused by the fi re.

(b) burning of property by order of any public authority.


( 17 )

2. lightning

3. explosion but excluding loss of or damage to boilers economizers or other vessels machinery or apparatus (other than air compressors) in which pressure is used or their contents resulting from their explosion.

4. riot, labour strikes and malicious acts of persons which shall mean :-

(a) the act of any person taking part together with other in any disturbance of the public peace not being an occurrence due to terrorism.

(b) the action of any lawfully constituted authority in suppressing or attempting to suppress any such disturbance or in minimising the consequence of any such disturbance.

(c) the wilful act of any striker or locked-out worker done in furtherance of a strike or in resistance to a lock-out.

(d) the action of any lawfully constituted authority in preventing or attempting to prevent any such act or in minimising the consequence of any such act;

but excludes loss or damage :-

(a) resulting from total or partial cessation of work or retarding or interruption or cessation of any process of operation.

(b) occasioned by permanent or temporary dispossession resulting from confi scation, commandeering or requisition by any lawfully constituted authority.

(c) occasioned by permanent or temporary dispossession of any Building or Premises resulting from the unlawful occupation by any person of such Building or Premises.

5. impact by aircraft and other aerial devices or articles dropped from the air

6. impact by road vehicles but excluding the fi rst S$50 of each and every loss.

7. bursting or overfl owing of water tanks apparatus or pipes from within the Building but excluding :-

(a) loss or damage to such water tanks, apparatus or pipes

(b) loss or damage by water discharged or leaking from any automatic sprinkler installation except as provided hereafter in no.10.

(c) the fi rst S$200 of each and every loss.

8. earthquake, volcanic eruption, hurricane, cyclone, typhoon, windstorm and fl ood (including overfl ow of the sea) caused by any of the aforementioned perils but excluding :-

(a) consequential loss of any kind.

(b) loss or damage caused by subsidence or landslip except when this is occasioned by earthquake or volcanic eruption

(c) loss or damage by reason of any ordinance or law regulating the construction or repair of Buildings.

(d) the fi rst S$200 of each and every loss

9. full fl ood which shall mean the overfl owing or deviation from their normal channels of either natural or artifi cial water courses, bursting or overfl owing of public mains and any other fl ow or accumulation of water originating from outside the Building insured at the Premises described in the Schedule, but excluding :-

(a) loss or damage caused by subsidence or landslip.

(b) the fi rst S$1,000 of each and every loss.

10. sprinkler leakage which shall mean water accidentally discharged or leaking from the automatic sprinkler installation up to but not exceeding S$100,000 or 10% of the Sum Insured whichever is lesser provided that the discharge or leak is not the result of the following causes :-

(a) repairs or alteration to the insured Building or Premises.

(b) the sprinkler installation being repaired, removed or extended.

(c) defects in construction or condition of the sprinkler installation of which the Insured is aware.

CONDITION AND WARRANTYAcquisition WarrantyWarranted that the insured Building is not under notice of acquisition by the relevant authorities during the currency of this Policy.

EXTENSIONS & CLAUSES1. Alterations and Repairs

Workmen are allowed in on or about any Premises of the Building herein referred to carry out alteration and repairs without prejudice to the terms of this insurance.

2. Architects’, Surveyors’ and Consultant Engineers’ FeesThis Section is extended to include Architects, Surveyors’ and Consultant Engineers’ legal and other fees (not exceeding those authorised under the scale of the various institution and/or professional bodies regulating such fees prevailing at the time of the destruction or damage) for estimates, plans, specifi cations, quantities, tenders and supervision necessarily incurred in the reinstatement consequent upon the destruction of or damage to the Building by fi re or any other peril hereby insured against (but not such fees for preparing a claim hereunder) provided that the liability for fees shall not exceed S$10,000 or 10% of the Sum Insured, whichever is the lesser.


( 18 )

3. Awnings, Blinds, Signs or other Outdoor Fixtures or Fitting of any DescriptionAwnings, blinds, signs or other outdoor fi xtures or fi tting of any description are covered provided that the Company’s liability under this Extension shall not in the aggregate exceed S$10,000 or 10% of the Sum Insured, whichever is the lesser.

4. Cost of Temporary ProtectionIt is hereby declared and agreed that this Section is extended to cover the cost of temporary protection up to a limit of S$2,500 reasonably necessary for the safety and protection of the Building pending repairs/replacement of damage.

5. Electrical Installation (4B)Loss or damage by fi re to the electrical appliances and installation arising from or occasioned by overrunning, excessive pressure, short circuiting, arcing, self-heating or leakage of electricity from whatever caused (lightning included) is covered subject to the Terms and Conditions of this Section, but it is expressly understood that no liability exists under this Section for loss or damage to any electrical machine, apparatus, fi xture or fi tting or to any portion of the electrical installation unless caused by fi re or lightning.

6. Heating and PowerThe use of electric, gas and other lighting, heating and power usual to trades and occupation is allowed as provided by Law or By-Law.

7. Payment on AccountIn the event of the occurrence of a loss under this Section the Company will make payment on account in respect of such loss to the Insured if desired, on production of a statement of claim certifi ed by the Approved Assessor

8. PremisesThis Section extends to cover property described herein whilst in or on platform, alleys, yards, and/or outbuildings on the Premises described herein during Business Hours.

9. Removal of DebrisThis Extension extends to cover all costs and expenses necessarily incurred by the Insured in the removal of debris, dismantling or demolishing, shoring up or propping of the portion or portions of the Building insured by this Section destroyed or damaged by fi re or by any other causes hereby insured against but subject always to an amount not exceeding S$10,000 or 10% of the Sum Insured, whichever is the lesser.

BASIS OF CLAIMS SETTLEMENTThe basis of settlement of any claim shall be the cost of reinstatement of the Building destroyed or damaged at the time of destruction or damage as follows :-

1. where the Building is destroyed, its rebuilding

2. where the Building is damaged, the repair of the damage and the restoration of the damaged portion to a condition substantially the same as but not better or more extensive than the condition when new.

Rebuilding may be carried out at an alternative situation, subject to the Company’s liability not being increased by so doing. If rebuilding, replacing, repairing or restoring is not carried out or not commenced and completed within a reasonable time or if there is other insurance in force which does not provide for replacement or reinstatement on a similar basis to that specifi ed above the Company will settle claims on the indemnity basis. Until expenditure has been incurred by the Insured in replacing or reinstating the property destroyed or damaged, the Company shall not be liable to any payment in excess of the amount which would have been payable under this Section if this benefi t had not been incorporated herein.

AVERAGEIf at the time of any loss or damage, the Sum Insured under this Section is less than 85% of the cost which would have been incurred in replacement or reinstatement if the whole of the Building has been destroyed, then the Insured shall be considered as being their own insurer for the difference and shall bear a rateable proportion of the loss accordingly.

SECTION 14 – MACHINERY INSURANCE


COVERIf at any time during the Period of Insurance stated in the Schedule, the items (or any part thereof) entered in the Schedule, whilst on the Premises mentioned therein, suffer unforeseen and sudden physical loss or damage from causes not specifi cally excluded hereinafter, in a manner necessitating repair or replacement, the Company will indemnify the Insured in respect of such loss or damage, as hereinafter provided, by payment in cash, replacement or repair (at the Company’s option) up to an amount not exceeding in respect of each of the items specifi ed in the Schedule in the sum set opposite thereto and not exceeding in all the total sum expressed in the Schedule as insured hereby.

This Policy shall apply to the insured items after successful completion of their performance acceptance tests whether they are at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or in the course of the aforesaid operations them-selves, or when being shifted within the Premises, or during subsequent re-erection.


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PROVISOSSum InsuredIt shall be a requirement of this Policy that the Sum Insured is equal to the cost of replacement of the insured machinery by the new machinery of the same kind and capacity, which means its costs of replacement including, eg, freight, dues and customs duties, if any, and cost of erection.

If the Sum Insured is less than the amount required to be insured, the Company shall pay only in such proportion as the Sum Insured bears to the amount required to be insured. Every item if more than one shall be subject to this condition separately.

Basis of Claim Settlementa) In cases where damage to an insured item can be repaired - the Company shall pay expenses necessarily incurred to

restore the damaged machine to its former state of serviceability plus the cost of dismantling and re-erection incurred for the purpose of effecting the repairs as well as ordinary freight to and from a repair shop, customs duties and dues, if any, to the extent such expenses have been included in the Sum Insured. If the repairs are executed at a workshop owned by the Insured, the Company shall pay the cost of materials and wages incurred for the purpose of the repairs plus a reasonable percentage to cover over-head chargers.

No deduction shall be made for depreciation in respect of parts replaced, but the value of any salvage shall be taken into account.

If the cost of repairs as detailed hereinabove equals or exceeds the actual value of the machinery insured immediately before the occurrence of the damage, the item shall be regarded as destroyed and settlement shall be made on the basis provided in b below.

b) In cases where an insured item is destroyed – the Company shall pay the actual value of the item immediately before the occurrence of the loss, including charges for ordinary freight, cost of erection and customs duties, if any, provided such expenses have been included in the Sum Insured, such actual value to be calculated by deducting proper depreciation from the re-placement value of the item. The Company shall also pay any normal charges for the dismounting of the machinery destroyed but the salvage shall be taken into account.

Any extra charges incurred for overtime, night work, work on public holidays, and express freight shall be covered by this Policy only if especially agreed in writing.

The cost of any alteration, additions, improvements or overhauls shall not be recoverable under this Policy.

The cost of any provisional repairs shall borne by the Company if such repairs constitute part of the fi nal repairs and do not increase the total cost of repair

The Company shall make payment only after being satisfi ed by production of the necessary bills and documents that the repairs have been effected or replacement has taken place as the case may be.

EXCEPTIONSThe Indemnity granted by this Policy shall not apply to nor include:-

1. the fi rst S$500 each and every loss

2. loss of or damage to exchangeable tools, eg dies, moulds, engraved cylinders, part which by their use and/or nature suffer high rate of wear or depreciation, eg refractory linings, crushing hammers, objects made of glass, belts, ropes, wires, rubber tyres, operating media, eg lubricants, fuels, catalysts;

3. loss or damage due to fi re, direct lightning, chemical explosion (except fuel gas explosions in boilers), extinguishing of a fi re or subsequent demolition, aircraft or other aerial devices or articles dropped therefrom, theft, burglary or attempts thereat, collapse of buildings, fl ood, inundation, earthquake, subsidence, landslide, avalanche, hurricane, cyclone, volcanic eruption or similar natural catastrophes;

4. loss of damage for which a supplier, contractor or repairer is responsible either by law or under contract;

5. loss of damage caused by any faults or defects existing at the time of commencement of this Policy within the knowledge of the Insured or his representatives, whether such faults or defects were known to the Company or not;

6. loss or damage as a direct consequence of the continual infl uence of operation (eg wear and tear, cavitation, erosion, corrosion, rust, boiler scale);

7. consequential loss or liability of any kind or description any payments over and above the indemnity for material damage as provided herein.

SECTION 15 – WORK INJURY COMPENSATION


COVERThe Company will indemnify the Insured against all sums which the Insured shall become legally liable to pay as compensation if at any time during the Policy Period any employee in the Insured’s immediate service shall sustain Bodily Injury by Accident or disease arising out of and in the course of his employment by the Insured in the Business and if the Insured shall be liable to pay for the compensation for such Bodily Injury either under the Legislation set out below or at Common Law and will in addition be responsible for all costs and expenses incurred with its consent in defending any claim for such compensation.


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PROVISOS1. The Company will not indemnify the Insured in respect of any liability : -

(a) arising from any action for compensation brought in the fi rst instance in the Courts of Law outside Singapore.

(b) for costs and expenses recoverable by any claimant from the Insured which are not incurred in and recoverable in Singapore.

2. In the event of any change in the Legislation or substitution of other legislation therefore, this cover shall remain in force but the liability of the Company shall be limited to such sums as the Company would have been liable to pay if the Legislation had remained unaltered.

AVOIDANCE OF CERTAIN TERMS AND RIGHT OF RECOVERYNothing in this Section or any endorsement hereon shall affect the right of any person entitled to the indemnity under this Section or of any person to recover an amount under or by virtue of the Legislation but the Insured shall repay to the Company all sums paid by the Company which the Company would not have been liable to pay but for the Legislation.

LEGISLATIONWork Injury Compensation Act (Cap 354), amendments and re-enactment thereof and any regulations made thereunder to date.

LIMIT OF LIABILTY AT COMMON LAWS$10,000,000 on any one claim or series of claims in the aggregate arising out of one event.

EXCEPTIONSThe Company shall not be liable in respect of :-

1. any liability of the Insured which attaches by virtue of an agreement but which would not have attached in the absence of such agreement.

2. the Insured’s liability to employees of contractors engaged by the Insured.

3. an employee of the Insured who is not an “employee” within the meaning of the Legislation.

4. any sum which the Insured would have been entitled to recover from any party but for an agreement between the Insured and such party.

5. any contract or project that is/are already specifi cally insured.

CONDITIONThe Insured shall take reasonable precautions to prevent Accidents and disease and shall comply with all statutory obligations.

AVERAGE CLAUSEHeadcount BasisIf at the time of loss, the total number of employees employed by the Insured is greater than the total number of employees

insured under this Section, then the Insured shall be considered as being his own insurer for the difference and shall bear a

rateable proportion of the loss accordingly.

Wages BasisIf the estimated annual wages, salaries and other monetary earning declared by the Insured, which must include those paid by the Insured as well as those paid by other employers and known to the Insured, is lesser than the actual annual wages, salaries and other monetary earnings at the time of the inception of the Policy, the Insured may not be indemnifi ed for the full extent of the Insured’s liability, as the Insured will be deemed to be his own insurer to the extent of the shortfall in the annual wages, salaries and other monetary earnings declared and the Insured shall bear a rateable proportion of the liability accordingly. The annual wages, salaries and other monetary earnings must consist of the normal wages and annual wages supplements but excluding travelling allowances and employers’ CPF contributions.

PREMIUM ADJUSTMENT AND DECLARATION OF WAGES1. The premium payable by the insured shall be based in the total amount of wages salaries and other monetary earnings

paid by the Insured as well as other employers if known to the Insured, to every employee in his employment during the Period of Insurance.

2. If the total amount of wages, salaries and other monetary earnings paid by the Insured as well as other employers if known to the Insured, during the Period of Insurance differs from the total amount on which premium was calculated at the commencement of this Policy, the difference in the premium shall be met by an additional payment or by refund as the case may be, subject to a minimum premium payment of S$50 by the Insured.

3. For the purpose of the premium adjustment, the Insured shall keep and maintain a proper record of the name and full personal particulars of every employee in his employment together with the amount of wages, salaries and other monetary earning paid by the Insured as well as wages, salaries and their monetary earning paid by other employers to the employee if known to the Insured, during the Period of Insurance and the Insured shall at times allow the Company to inspect such records. Wages, salaries and other monetary earnings must be consist of the normal wages, food and housing allowances, overtime payments, bonuses and annual wages supplements but excluding travel allowances and employers’ CPF contributions.


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4. The Insured shall without demand and within a month after the expiry date or termination of this Policy, furnish the

Company an account of all wages, salaries and other monetary earnings paid by the Insured as well as wages salaries

and other monetary earnings paid by other employers if known to the Insured, to every employee in this employment

during the Period of Insurance

GENERAL EXCEPTIONS (APPLICABLE TO ALL SECTIONS OF THE POLICY)

If the Company allege that by reason of the following Exceptions any losses, damages, costs or expenses are not covered by

this insurance, the burden of proving that such losses, damages, costs or expenses are covered shall be upon the Insured.

The Company shall not be liable in respect of:-

1. any loss or damage or liability directly caused by or contributed to by or arising from ionizing, radiations or contamination

by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel or nuclear

weapons.

2. any loss (whether temporary or permanent) of the insured property or any part thereof by reason of confi scation,

requisition, acquisition, detention or legal or illegal occupation of such property or of any Premises or of the Building or

of the vehicle or thing containing the insured property by any government authorities.

3. any loss or damage occasioned by or through or in consequence, directly or indirectly, of any of the following

occurrences, namely

(a) war, invasion, act of foreign enemy, hostilities or warlike operations (whether war be declared or not), civil war

(b) mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, insurrection,

rebellion, revolution, military or usurped power

4. pressure waves and any phenomenon associated therewith caused by aircraft and other aerial devices travelling at

sonic or supersonic speeds.

5. consequential loss or damage or liability of any kind or description not specifi cally mentioned.

6. wilful act of wilful negligence of the Insured or the Insured Person

7. Contracts (Rights of Third Parties) Act (Chapter 53B)A person who is not a party to this contract shall have no right under the Contracts (Rights of Third Parties) Act (Chapter

53B) to enforce any of its terms.

8. Electronic Date The Company will not pay for any loss, damage or consequential loss, or legal liability of whatsoever nature directly

or indirectly caused by or consisting of or arising from the failure or inability of any computer, electronic equipment,

data processing or media, microchip, embedded chip, integrated circuit or similar device, fi rmware or any computer

software, whether the property of the Insured or not, occurring at any time to :-

(a) correctly recognize any date as its true calendar date

(b) capture save or retain, and/or correctly manipulate, interpret or process any data or information or command or

instruction as a result of treating any date otherwise than as its true calendar date

(c) capture save retain or correctly to process any data as a result of the operation of any command which has

been programmed into any computer software, being a command which causes the loss of data or the inability

to capture save retain correctly to process such data on or after any date but this shall not exclude subsequent

loss, damage or consequential loss not otherwise excluded, which itself results from a Defi ned Peril. The words

“Defi ned Peril” shall mean fi re, lightning, explosion, aircraft or other aerial devices or articles dropped therefrom,

riot and strike, malicious damage, earthquake, storm, fl ood, escape of water from any tank apparatus or pipe or

impact by any road vehicle or animal where such loss, damage or consequential loss is insured by the Policy.

9. IT Clarifi cationProperty damage covered under this Policy shall mean physical damage to the substance of property.

Physical damage to the substance of property shall not include damage to data or software, in particular any detrimental

change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the

original structure.

Consequently the following are excluded from this Policy :-

a) Loss of or damage to data or software, in particular any detrimental change in data, software or computer programs

that is caused by a deletion, a corruption or deformation of the original structure, and any business interruption

losses resulting from such loss or damage.

Notwithstanding this Exception, loss of or damage to data or software which is the direct consequence of insured

physical damage to the substance of property shall be covered.

b) Loss or damage resulting from an impairment in the function, availability, range of use or accessibility of data,

software or computer programs, and any business interruption losses resulting from such loss or damage.


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10. Sanction Limitation And Exclusion No insurer shall be deemed to provide cover and no insurer shall be liable to pay any claim or provide any benefi t hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefi t would expose that insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union or United Kingdom or United States of America.

11. Terrorism Notwithstanding any provision to the contrary within this insurance or any endorsement thereto it is agreed that this insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss.

For the purpose of this Exception an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to infl uence any government and/or to put the public, or any section of the public, in fear.

This Exception also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism.

If the Company allege that by reason of this Exception, any loss, damage, cost or expense is not covered by this insurance the burden of proving the contrary shall be upon the Insured.

In the event any portion of this Exception is found to be invalid or unenforceable, the remainder shall remain in full force and effect.

12. Total AsbestosIt is hereby understood and agreed that this Policy shall not apply to and does not cover any actual or alleged liability whatsoever for any claim or claims in respect of loss or losses directly or indirectly arising out of, resulting from or in consequence of asbestos in whatever form or quantity.

Except for asbestosis cover provided under the Singapore Workmen’s Compensation Act.

GENERAL CONDITIONS (APPLICABLE TO ALL SECTIONS OF THE POLICY)

1. ArbitrationAny dispute arising out of or in connection with this Policy, including any question regarding its existence, validity or termination, shall be referred to Financial Industry Disputes Resolution Centre Ltd (“FIDReC”). This applies as long as the dispute can be brought before FIDReC.

If the dispute cannot be brought before or dealt with by FIDReC, it will be referred to and fi nally resolved by arbitration in Singapore in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause.

The seat of the arbitration shall be Singapore.

The Tribunal shall consist of three (3) arbitrator(s).

The language of the arbitration shall be in English.

2. CancellationThis Policy may be cancelled at any time at the request of the Insured in writing to the Company and :-

(a) no refund will be allowed if such cancellation is evoked within three (3) months of the inception date of cover

(b) any cancellation after 3rd month of cover , refund premium shall be computed based on a monthly pro-rata basis.

This Policy may also be cancelled by or on behalf of the Company by sending fourteen (14) days notice by registered letter to the Insured at his last known address in which event the refund premium shall be computed based on a monthly pro-rata basis.

3. Changes in FactThe insurance under this Policy shall cease to be in force if :-

(a) the business of the Insured be wound up or carried on by a liquidator, receiver or offi cial assignee or be permanently discontinued

(b) there is any alteration in the insured Building or Premises or in the Business or otherwise whereby the risk of loss or damage is increased

(c) there is any material changes in the conditions of the risks as existing at the time of acceptance whereby the risk of loss, damage, injury or Accidents increased unless the Company agrees in writing to continue the insurance.

4. Claims Procedure (Company’s Rights)(a) The Company shall be entitled to conduct in the Insured’s name the defence or settlement of any claim or to

prosecute for its own benefi t any claim for indemnity or damage or otherwise and shall have the full discretion in the conduct of any proceedings and in settlement of any claim.


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(b) On the happening of any loss or damage to any of the Interest Insured, the Insured shall allow the Company to enter and take and keep possession of the Building or Premises where the loss or damage has happened and to take possession of or require to be delivered to the Company any property of the Insured in the Building or Premises at the time of the loss or damage and to deal with such property in any reasonable manner.

No property may be abandoned to the Company.

(c) If the Company elects to repair, reinstate or replace any insured property, it shall only do so in a reasonably suffi cient manner as circumstance permit and shall not bound to expend more than the relevant Sum Insured.

5. Claims Procedure (Insured’s Duties)(a) Any loss, damage, Bodily Injury claim or knowledge of any event giving rise to a claim must be notifi ed immediately

to the Company in writing and a detailed statement of the claim submitted within fi fteen (15) days of happening of such loss, damage or Bodily Injury unless otherwise specifi ed in the Section.

(b) All particulars, information and assistance as may be reasonably required by the Company must be supplied by the Insured at the Insured’s own expenses and shall be in such form as the Company shall prescribe.

(c) Any impending prosecutions, inquests, inquiries or civil proceedings must be notifi ed immediately to the Company and all relevant documents relating thereto be delivered to the Company without any delay.

(d) If damage by malicious person or theft is suspected, notice must be given immediately to the police and reasonable assistance shall be rendered by the Insured to the police and the Company in causing the discovery and punishment of the offender and in tracing and recovery of the property lost.

(e) Immediate action must be taken by the Insured to minimize loss and to prevent further loss damage or Bodily Injury.

(f) No admission of liability or negotiation or settlement of any claim shall be made by the Insured without the Company’s written consent.

6. ForfeitureAll benefi ts under this Policy shall be forfeited if any claim is fraudulent, unfounded or intentionally exaggerated or if any false declaration or statement be made in support of it.

7. Governing LawThis Policy shall be governed by and interpreted in accordance with Singapore law.

8. InterpretationAny word or expression which is given a specifi c meaning in this Policy shall have that meaning wherever it may appear.

9. Jurisdiction clauseThe indemnity under this Policy shall not apply in respect of judgements which are not in the fi rst instance delivered by or obtained from a Court of competent jurisdiction within West Malaysia or the Republic of Singapore.

10. MisrepresentationIf there be any material misdescription by the Insured of any of the property or liability hereby insured, or of any Building or place in which such property is contained or any misrepresentation as to any fact material declared for estimating the risk, or any omission to state such fact, the Company shall not be liable under this Policy so far as it related to property or liability affected by such misdescription, misrepresentation or omission.

11. Non-Contribution Clause(a) This insurance does not cover any loss, destruction, damage or liability which is insured by or would, but for the

existence of this Policy, be insured by any other policy or policies (this does not apply to Personal Accident and Daily-in-Hospital Income), except in respect of any excess beyond the amount which would have been payable under such other policy or policies had this insurance not been effected.

(b) Where any incident resulting in a claim (this does not apply to Personal Accident and Daily-in-Hospital Income) is insured for the same loss, damage or liability under more than one section of this Policy, then only the section with the highest indemnity shall apply.

12. ObservanceThe liability of the Company under the Policy shall be strictly conditional upon the observance by the Insured of the Terms, Provisions, Conditions and Endorsements of this Policy.

13. PrecautionsThe Insured shall take and cause to be taken all reasonable precautions :-

(a) for the safety and maintenance of the Interest Insured

(b) to prevent Accidents and to comply with all statutory obligations and regulations imposed by any legislation.

(c) For the safety of money and in selection and supervision of his employees.

14. Premium Payment Warranty1. Notwithstanding anything herein contained but subject to clause 2 hereof, it is hereby agreed and declared that if

the Period of Insurance is sixty (60) days or more, any premium due must be paid and actually received in full by the Company (or the intermediary through whom this Policy was effected) within sixty (60) days of the:

(a) inception date of the coverage under the Policy, Renewal Certifi cate or Cover Note; or

(b) effective date of each Endorsement, if any, issued under the Policy, Renewal Certifi cate or Cover Note.


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2. In the event that any premium due is not paid and actually received in full by the Company (or the intermediary through whom this Policy was effected) within the sixty (60) day period referred to above, then:

(a) the cover under the Policy, Renewal Certifi cate, Cover Note or Endorsement is automatically terminated immediately after the expiry of the said sixty (60) day period;

(b) the automatic termination of the cover shall be without prejudice to any liability incurred within the said sixty (60) day period; and

(c) the Company shall be entitled to a pro-rata time on risk premium subject to a minimum of S$25.00.

3. If the Period of Insurance is less than sixty (60) days, any premium due must be paid and actually received in full by the Company (or the intermediary through whom this Policy was effected) within the Period of Insurance.

15. Condition PrecedentThe validity of this Policy is subject to the Condition Precedent that:

(a) for the risk insured, the Insured has never had any insurance terminated in the last twelve (12) months due solely or in part to a breach of any premium payment condition; or

(b) if the Insured has declared that it has breached any premium payment condition in respect of a previous policy taken up with another insurer in the last twelve (12) months:

(i) the Insured has fully paid all outstanding premium for time on risk calculated by the previous insurer based on the customary short period rate in respect of the previous policy; and

(ii) a copy of the written confi rmation from the previous insurer to this effect is fi rst provided by the Insured to the Company before cover incepts.

16. Subrogation of RightsThe Insured shall, at the expense of the Company, do, and concur in doing, and permit to be done, all such acts and things may be necessary or reasonably required by the Company for the purpose of enforcing any rights and remedies, or of obtaining relief or indemnity from other parties to which the Company shall be or would become entitled or subrogated, upon its paying for or making good any loss, damage or liability under this Policy, whether such acts and things shall be or become necessary or required before or after his indemnifi cation by the Company.

BZP/GEG1.0/JUL2017

Policy Owners’ Protection SchemeThis policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefi ts that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the General Insurance Association (GIA) or SDIC web-sites (www.gia.org.sg or www.sdic.org.sg).


bizsupreme - great eastern general, singapore · 2017-06-20 · three hundred and sixty-fi ve (365)...

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