Page 341 - Misc Ebook IC 78

Miscellaneous Insurance

Some important exclusions are:
(i) Cost of dismantling, to and from transport to

workshop and cost of erection.
(ii) Faults existing at the time of commencement of

policy and known to the insured
(iii) Damage for which the manufacturer or supplier is

responsible.

The sum insured should represent 100% of new
replacement value. The rates of premium vary according
to the type of pump set, whether electrical or diesel/oil,
and the capacity in Horsepower.

There is a excess applicable to machinery breakdown
claims only and the amount of excess depends on the
type of set and its capacity. There are discounts for
group policies, long term policies and for 'no claim'
periods.

Q4. Write the following:

(a) What are the various contingencies provided under
Banker's Indemnity?

Ans. The Bankers Blanket Block policy cover for the

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