Page 204 - Hollard Business Branch Policy Wording

Business Interrup on (Machinery Breakdown)
BUSINESS INTERRUPTION (MACHINERY BREAKDOWN)
DEFINED EVENTS
Accident to machinery speci ed in the Schedule for this Sec on and used by the Insured, at the premises, for the purpose of the business resul ng in interrup on or interference with the business;
PROVIDED THAT:
payment shall have been made or liability admi ed for accident under the Machinery Breakdown Sec on except in so far as a Provision may operate to exclude losses below a speci ed amount.
SPECIFIC CONDITIONS
1. The insurance under this Sec on shall cease if the business is wound up or carried on by a liquidator or judicial manager or is permanently discon nued, except with the wri en agreement of the Company.
2. On the happening of any damage in consequence of which a claim may be made under this Sec on, the Insured shall, in addi on to complying with General Condi ons 6 and 7, with due diligence do and concur in doing and permit to be done all things which may be reasonably prac cable to minimise or check any interrup on of or interference with the business or to avoid or diminish the loss, and in the event of a claim being made under this Sec on shall, not later than 30 (thirty) days a er the expiry of the indemnity period, or within such further me as the Company may in wri ng allow, at their own expense deliver to the Company in wri ng a statement se ng forth par culars of the claim together with details of all other insurance covering the loss or any part of it or consequen al loss of any kind resul ng therefrom. No claim under this Sec on shall be payable unless the terms of this Speci c Condi on have been complied with and, in the event of non-compliance therewith in any respect, any payment on account of the claim already made shall be repaid to the Company forthwith.
SPECIFIC EXCEPTIONS
This Sec on does not cover any loss or claim resul ng from interrup on of or interference with the business directly or indirectly a ributable to any of the following causes:
1. shortage, destruc on, deteriora on of or damage to raw materials, semi- nished or nished products or other materials required for proper opera on, even if the consequence of material damage to an item described in the Schedule of this Sec on;
2. any restric ons on reconstruc on or opera on imposed by any public authority;
3. the Insured not having at their disposal, in good me, su cient capital for repairing or replacing destroyed or damaged machinery;
4. loss of business due to causes such as suspension, lapse or cancella on of a lease, licence, order, etc., that occurs a er the date when the machinery and plant a ected by an accident is again in opera ng condi on and the business could have been resumed if the aforesaid lease, licence, order, etc., had not been suspended, lapsed or cancelled;
5. the Company will not be liable for loss resul ng from interrup on or interference with the business due to addi ons, altera ons or improvements being e ected to the damaged item(s) on the occasion of its repair.
MEMORANDUM
If, during the indemnity period, goods shall be sold or services shall be rendered elsewhere than at the premises for the bene t of the business either by the Insured or by others on their behalf, the money paid or payable in respect of such sales or services shall be brought into account in arriving at the turnover or revenue, during the indemnity period.
Hollard Business Policy – Branch – Version 1 2018 Page | 203