Selvi Aldriani, The Milestone

“It is hereby noted and agreed that the Policy is cover against Liability arising from or to damage to premises and their contents temporarily occupied for performing work”

In case of a claim, the foreign exchange rate should be calculated based in the average of 90 days immediately before the date of accident, based on central Bank of Indonesia middle exchange rate.

It is understood and agreed that subject to the terms exceptions and conditions stated  elsewhere, this policy will indemnify any of the Insured in respect of claims made against him by any other party insured as if each party were insured separately. Insurers also agree to waive all rights of subrogation or action which they might otherwise have or acquire against any of the above parties insured. Provided always that the liability of insurers shall not exceed the limit of indemnity as stated in the schedule.

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the Third Party Liability cover of the Policy shall apply to the insured parties named in the Schedule as if a separate Policy had been issued to each party, provided that the Insurers shall not indemnify the Insured under this Endorsement in respect of liability for : -              loss of or damage to items insured or insurable under section I of the Policy, even if not recoverable due to an excess or any limit -              fatal or non fatal injury or illness of employees or workmen who are or could have been insured under workmen’s compensation and/or employees liability insurance. The Insurers’ total liability in respect of total liability of the insured parties shall not however exceed in the aggregate for any one accident or series of accidents arising out of one event the limit indemnity stated in the Schedule.

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to include loss of or damage to valves and tubes. Indemnification shall be limited to the actual value of such items immediately prior to the occurrence of the loss or damage, including ordinary freight, erection costs and custom duties and dues, if any.

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to include loss of or damage to the mobile and/or portable equipment contained in the schedule of the Policy whilst stationary or in transit anywhere within the [……] territorial limits. The Insurers shall not be liable under this Endorsement for 4              loss or damage occurring whilst the above items are unattended unless locked inside a building or vehicle 4              loss or damage from any cause whatsoever whilst the above items are installed or carried in or on aircraft or aerial devices or waterborne vessels or craft

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended according to the following conditions: SCOPE OF COVER (EEI) The Insurers hereby agree with the Insured that if material damage indemnifiable under Section I of this Policy, however limited to occurrences for which the Insured is liable under the leasing contract, gives rise to a total or partial interruption of operation of the EDP equipment entered in the Schedule, the Insurers will indemnify the Insured, as hereinafter provided, for loss of rental for leased EDP equipment as a consequence of such loss or damage up to an amount not exceeding the agreed indemnification per day and not exceeding in all the sum insured in any one year of insurance, provided always that such interruption occurs during the period of insurance stated in the schedule or during any subsequent period for which the Insured pays and th

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to include the risk of theft of the insured items whilst on the premises provided, however, the Insured informs the police authorities immediately after any loss or damage due to  theft is discovered.

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to include the risk of hurricane, cyclone and typhoon.

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, where an insured item is totally destroyed or damaged beyond repair, the basis upon which the amount payable under the Policy is to be calculated shall be the full replacement value of the item destroyed or damaged.                                                 Replacement Value shall mean the cost which would have to be incurred immediately before destruction of or damage to an insured item for replacing the destroyed or damaged item by a new item of a similar kind, capacity, size and quality. Provided that 4              the replacement work shall be commenced and carried out with reasonable dispatch, otherwise no payment shall be made beyond the amount which would have been payable under the Policy if this Endorsement had not been incorporated therein; 4     

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, all additional repair costs that can be proved to have been incurred as a result of the loss event of Equipment and the restoration effected in this connection shall be indemnified. This cover shall be applicable for a period of  12 (twelve) months as from the date the restoration is completed.

On costs and expenses necessarily and reasonably incurred by the insured following loss or damage to the property insured. I.             to reconstruct and recompile records (but not for the value to the insured of the insured information contained therein) II.            to extract and compile information required by the Company from the insured’s own records for the purpose of preparing a claim under the Policy but excluding legal, investigation fees/expenses incurred for the purpose of contesting any issue over the Company’s Liability under the Policy. Provided always that no amount shall be recoverable under this endorsement if subsequent to the incurrence of any expenses, the Company shall deny liability for any claim in respect of which the expenses have been incurred (with or without the consent of the Company)

COST OF RE-ERECTION CLAUSE The insurance by this Policy extends to cover the cost of re-erecting, fitting and fixing machinery or plant destroyed or damaged by any perils hereby insured against providing always that the liability of the Insurer shall not exceed the sum insured of such machinery or plant under the Policy.

In the event of goods insured by this Policy having been sold but not delivered for which the Insured is responsible and under the conditions of sales, the contract is cancelled by reason of non-delivery of such goods destroyed or damaged by fire or by any other perils insured hereby, the liability of the company in respect of such goods shall be based on the Contract Price.

This insurance includes cover for computer system records but only for the value of the materials together with the cost of clerical labor and computer time expended in reproducing such records (excluding any expenses in connection with the production of information to be recorded therein) and not for the value to the Insured of the information contained therein.

THEFT DURING FIRE EXCLUSION CLAUSE Notwithstanding anything contained in article 291 of the Commercial Code (Kitab Undang-Undang Hukum Dagang) to the contrary, it is hereby expressly understood that, in case of fire missing by theft or otherwise shall not be covered under this Policy. ELECTRICAL SHORT CIRCUIT CLAUSE It is hereby expressly understood and agreed that this policy also covers loss or damage caused by fire as consequence of electrical short circuit. REINSTATEMENT ADDITIONAL PREMIUM CLAUSE It is hereby understood that in case of reinstatement of the sum insured referred to in Article XVII of the within policy, the additional premium shall be calculated on a prorata basis in accordance with the remaining period of cover.

It is hereby noted and agreed that this Policy extended to covers the liability incurred by a contractor for property damage or injuries that may happen to a third party once contracted operations have ceased or been abandoned. Even though the operations are deemed to be "completed" by the contractor, the loss or injury is deemed to be as a result of those operations.

Notwithstanding anything contained in this policy  to the contrary, loss as insured by the Policy resulting from interruption of or interference with the Business directly or indirectly arising from : (a) closure or evacuation  of the whole or part of the Premises by order of a competent       Public authoriity consequent upon :       (I)     Human infectiious or contagious disease occuring at the Premises       (ii)    vermin or pests or defects in the drains or other sanittary arrangements at the               Premises       (iii)   the outbreak of a notifiable human infectious or contagious disease occuring in               the vicinity of the Premises (b) Poisoning directly caused by the consumption of food or drink provided on the Premises. (c) murder or suicide occuring in or at the premises (d) threat of violent damage to the Premises and/or injury to persons therein. Shall be deemed to be loss resulting from damage to property used by the Insured at

“The insurance by this policy includes the reasonable and supportable costs incurred by the Insured (including utilising by Insured of external consultants) for preparing, presentation, certification and/or verification of any claim resulting from loss insured under this policy. This is in addition to the policy limits”

The insurance is extended to cover direct loss or damage to the described property caused by acts of destruction executed by order of any Public Authority at the time of and only during a conflagration to retard the spread thereof, and subject to all other terms and conditions of this Policy. This Insurer shall not be liable, however, for more than the amount for which it would have been liable had the loss been caused by the peril insured against under this Policy.

It is hereby noted and agreed that this Policy is extended to cover Civil Commotion, Terrorism and Sabotage Endorsement. The definitions of Civil Commotion, Terrorism and Sabotage are as per R.S.M.D 4.1A Wordings, Chapter III.6, III.16, and III.17. Subject otherwise to the terms, exceptions and conditions of the policy.

It is hereby declared and agreed that the Insurance under this policy is extended to cover the Insured’s Legal liability for injures, illness, loss or damaged caused by any of the Insured’s contractors and sub-contractors and happening in connection with the carrying out of work by them for the insured. It is further declared and agreed that in respect of such injuries, illness, loss or damage caused as aforementioned for which the said contractors and sub-contractors are responsible, the Company will at the request of the Insured treat these contractors as though they were also the Insured under this Policy provided that the contractors and sub-contractors shall observe, fulfill and be subject to the terms, limits, exceptions, provisions and conditions of this Policy insofar as they applied.

It is hereby declared and agreed that the Insurance by this Policy is extended to cover the Legal Liability of the Insured in respect of loss or damage to vehicle insured under the control of the Insured or the Insured’s parking attendants whilst in the car park of the Insured. Provided always that : 1.            The Insurer shall not be liable for any such loss or damage insofar as such loss or damage is covered by any other insurance. 2.            The liability of the Insurer under this endorsement in respect of any such loss or damage and under the Policy in respect of any bodily injury or damage to property shall not in any case exceed the limit of liability specified in the Policy.

The insurance hereby extends to cover alterations, additions and improvements (but not appreciation in value) in excess of the sums insured to property specified in the Policy for an amount not exceeding 10 % of the sums insured thereby or an amount specified in the policy whichever is the less, it being understood that the Insured undertakes to advise the Insurer each quarter of such alterations, additions and improvements and to pay the appropriate additional premium thereon.

Notwithstanding of anything in the policy, this insurance shall extend to include loss or damages to  the property insured caused by bursting or overflowing of watertanks apparatus or pipes.

“It is hereby noted and agreed that, in case of loss destruction or damage to part of a pair or set, the insurer will pay the full amount of the pair or set provided the insured agree to surrender the remaining article or articles of the pair or set to the insurer”.

This Insurance shall not be affected and/or invalidated by any act or neglect, mis-description and/or misrepresentation, breach in condition and/or warranty nor by change in the tittle or ownership of the property, provided  the owner shall notify the insurer the happening of such act as soon as it comes to his knowledge and shall on reasonable demand pay the additional charges for any increase or hazard created.

If branded or labeled merchandise covered by this Policy is damage, and the Insurer elects to take all or any of such merchandise at the agreed or appraised Value, the Insured may, at his own expense, stamp “salvage” on the merchandise or its container or may remove the brands or label, if such stamp or removal of brand or label will not physically damage the merchandise but the Insured shall at its own cost re-label the merchandise or containers in compliance with all of the requirements the applicable law.

“It is hereby expressly understood and agreed that this policy also covers loss or damage to the whole or any part of the property insured (including the boiler) caused by boiler explosion”.

BENEFICIARY CLAUSE It is hereby declared and agreed that in the event of the death of the Insured person by accident all compensation due under the within policy shall be payable to : whose receipt shall be a full and final discharge to the company is of such compensation

RECOMMENDED BANK INTEREST CLAUSE It Is hereby noted and agreed that the property Insured under this Policy has been pledged with PT. Bank ……………. and until such time as the said Bank shall have notified the Insurer, in the contrary, the Insurer shall advise the said Bank : I. If the Insured  proposed to cancel or give notice of cancellation of any such insurance, at least 30     (thirty) days before such cancellation is to take effects ; II.Of :    a.Any material alteration, and/or    b.Termination  or Expiry    Of any such insurance at least 30 (thirty) days before such alteration, termination or expiry take place III.Promptly of any default in the payment of any premium or failure to renew any such insurance ; IV.Of any act or omission or of any event of which the Insurer has knowledge and which they consider      might invalidate or render unenforceable in whole or in part any such insurance ; V.Of any claim under the policy exceeding USD. 10,000

Awnings, blinds, signs or other outdoor fixtures or fittings of any description are covered by this policy provided that the insurer’s liability under this extension shall be on first loss basis, not in the aggregate to exceed Rp. XXX-

If at the time of loss or damage the sum insured is less than eighty five (85) per cent of the cost which would have been incurred in reinstatement if the property had been destroyed by any peril hereby insured against, then the insured shall be considered as being his own insurer for the difference between the sum insured and the sum representing the cost of reinstatement of the whole of the property and shall bear a rateable proportion of the loss accordingly. The insured shall not be considered as being under insured if the sum insured is eighty five (85) per cent or more of the reinstatement cost.

It is agreed that in the event of indemnifiable loss or damage the insured shall have the right upon request to reinstate the sum insured in which event the insured shall Automatically pay additional premium at an agreed rate on the amount of the loss from the date of such loss or damage to the expiry of the period of insurance.

In consideration of the Insured undertaking to pay any premium at the agreed rate on the amount of loss on pro-rata basis from the date of such loss to expire of the current period of insurance, it is agreed that in the event of loss the Insurance hereunder shall automatically remain in force for the full sum insured.

In consideration of the Insured undertaking to pay an additional premium at the agreed rate on the amount of loss calculated on a pro-rata basis from the date of such loss to the expiry of the current period of insurance, it is agreed that in the event of loss the insurance hereunder shall automatically maintain in force for the full sum insured stated in the schedule.

If during the period of Insurance the actual value of each item shall be in excess of the sum insured, this policy shall automatically be increased by the amount of such excess but not exceeding 10% of the Sum Insured shown in the schedule and the Insured shall pay to Insurers an additional premium payment in respect of such increase.

It is hereby declared and agreed that additions and deletions to the schedule will be automatically held covered without prior notice subject to the Insured’s submitting such additions and deletions within one week of the following month.

The liability of underwriters is limited to the reasonable charges payable by the insured to their auditors for producing and certifying any particulars or details contained in the insured’s books of account or the business books or documents or such other proofs, information or evidence as may be required by the underwriters in connection with a claim under this section of the policy but in no case shall exceed in any one period of Insurance, the sum insured stated in the schedule.

Notwithstanding of anything in policy to the contrary this policy should extend to cover accidental death and/or disablement and/or any injuries caused by assault and/or murder.

It is hereby noted and agreed as follows : 1.The Insurance of each item on the Building or Contents includes an amount in respect of Architects’ Surveyor’s Legal and Consulting Engineers Fees not exceeding those provided  under the scales of the various institutions and/or bodies regulating such fees prevailing at the time of the destruction or damage and not exceeding 5 % of the individual sums insured. 2.The Insurance on Fees applies only to those necessarily and reasonably incurred in the reinstatement or repair of Property Insured consequent upon its destruction or damage but not for preparing any claim, it being understood that the amount payable under the item shall not exceed in total its sum insured.

If the aggregate claim for anyone loss does not exceed 5 (five) per cent of the sum insured by the item or items affected (whichever may be the less) no special inventory or appraisement of the undamaged property shall be required. If two or more buildings be included in a single item, this provision shall apply to the range of buildings insured by this item. For the purpose of this clause, the term “item” shall be held to the total sum insured on buildings and/or contents by the items affected.

If during the indemnity period goods shall be sold or services be rendered elsewhere than at the premises for the benefit of the business either by the Insured or by others on the Insured’s behalf the money paid or payable in respect of such sales or services shall be brought into account in arriving at the Gross Revenue during the indemnity period.

Notwithstanding anything  contained in the printed conditions of the Policy to the contrary, it is noted and agreed that this Insurance shall not be prejudiced in the event of any alterations being made to the property insured whereby the risk of damage is increased, provided that notice of such alteration be given to the Insurer within sixty (60) days of the commencement of such alterations and additional premium paid, if required from the date of such alteration.

It is hereby declared and agreed that the compensation for medical expenses shall extend to include the costs of air transportation of any of the lives insured for medical treatment provided that such transportation  is certified by a fully qualified medical practitioner as being necessary and provided that the limit of compensation for medical expenses is not exceeded as a result thereof.

It is hereby declared and agreed that this policy is extended to include liability as within defined from advertising-signboards displayed at various locations as specified in the schedule.

“The insurance under this item is limited to increase in cost of working (not otherwise recoverable hereunder) necessarily and reasonably incurred during the Indemnity Period in consequence of the damage for the purpose of avoiding or diminishing reduction in Turnover and/or resuming and/or maintaining normal business operations and/or services.” LITERATURE ·   Additional Cost of Working / Increased Cost of Working - The increased costs incurred after a property damage loss, to limit any reduction in turnover or revenue, and to maintain normal business operations. These expenses could include such items as hiring alternate premises, temporary staff, additional freight or storage etc. (Most policies limit the amount they will pay for these costs to the amount that is being saved in turnover or revenue - i.e. you cannot spend more than a dollar to save a dollar). ·   Additional Increased Cost of Working - The increased costs incurred after a property damage loss, above those paya

It is hereby noted and agreed that in the event of any loss in respect of Property covered under the Policy an increase of 10% of the Original Sum Insured of Business Interruption per anumm shall be allowed over and above the original Sum Insured stated in the Certificate during the Period of the lease, such escalation being applied on a pro-rate basis for parts of a year

In adjusting any loss account shall be taken and an equitable allowance  made if any reduction in Turnover due to the incident is postponed by reason of the Turnover being temporarily maintained from accumulated stocks of finished goods.

ACCIDENTAL FAILURE OF PUBLIC SUPPLY Risks : BI Any loss as insured by this policy resulting from interruption of or interference with the Business in consequence of loss destruction or damage at the undernoted situations or to property as undernoted shall be deemed to be an incident. The Contingencies The accidental failure of The public supply of electricity The public supply of water The public supply of telecommunications services resulting from   i. Failure of satellites ii. Failure from any other cause but excluding any failure   i.which does not involve a cessation of supply for at least …   consecutive minutes       hours/days ii.due to an Excluded cause

50/50 CLAUSE Risks : CEAR Where separate Marine insurance has been effected by the Insured it is agreed that in the event of loss of or damage to the Property Insured due to a perils insured against being discovered after the risk has terminated under the Marine Insurance   and, if after proper investigation it is not possible to ascertain whether the cause of such loss or damage happened prior to the termination of the marine venture or subsequently. It is understood and agreed that the Insurers hereon shall contribute 50% or the properly adjusted claim provided the Marine Insurers also agreed to contribute 50% of the claim, such contribution to be without prejudice to subsequent final apportionment of the claim as may.