Page 55 - Fire Insurance Ebook IC 57

The Insurance Times

difference shall be repaid to the Insured but such repayment shall not
exceed 50% of the provisional premium.

3. a) The maximum liability of the Company shall not exceed the
Sum Insured hereby and premium shall not be receivable on
value in excess thereof.

b) The Sum Insured may, be increased during the term of the
policy.

c) In the event of an increase in the Sum Insured proportionate
premium shall be charged for the balance period

d) If during the currency of the policy, the rate for the class of
risk to which the insurance applies is revised, proportionate
premium shall be charged

4. If after the occurrence of a loss it is found that the amount of the
last declaration previous to the loss is less than under insurance
shall apply and loss shall be paid proportionately.

5. a) On payment of loss the insured shall pay extra premium to
restore the sum assured

b) The premium is calculated at the rate applicable to the stocks
destroyed and such extra premium shall not be taken into
account in, and shall be distinct from, the final adjustment of
premium.

6. In the event of cancellation of policy pro rata premium shall be
calculated

7. If the stocks are not fully insured the pro rata average condition
shall apply

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