Page 384 - Misc Ebook IC 78

The Insurance Times

commencement of risk known to the insured but
not disclosed to the Company.
(v) Loss or damage to belts, ropes, chains, all operating
media, packing materials etc.

There is an excess of Rs.1000 on each and every claim.
For machinery breakdown the excess is 1% of the value
of machinery or Rs.1000 whichever is higher.

(d) Salt Works Insurance -
The cover under this policy applies to earthwork/mud
work and salt stored on platforms against the risk of
Storm, Cyclone, Flood and Allied Perils, Unseasonal
Rainfall (as declared by Met Office).

The sum insured is the actual cost of construction and
the indemnity is restricted to the cost of repair and/or
reconstruction. The sum insured for salt stored on
platforms, is the actual cost of production excluding
anticipated profits. The policy is subjected to Excess of
30% of Sum Insured on earthwork/mud work and salt
stored on each platform affected by loss.The rate of

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