Page 22 - Engineering Insurance IC 77 Ebook

The Insurance Times
price shall include storasge charges for the whole of plant/part for less than 24 hours due to an
season. accident following FOES.
Scope of cover: 5) Damage due to inherent defect / natural
Loss or damage to the stock only as a result of deterioration.
rise in temperature in the cold storage chambers 6) Damage due to improper storage, packing
due to accidental failure of electric supply at the material insufficient air circulation, non-uniformity
terminal ends of the electricity service feeders at of temperature and collapse of rack.
the said premises directly due to sudden and
7) Any loss / each failure up to 8 hours
unforeseen damage to property at a power station,
receiving station, sub-station or other parts of the 8) Drought & or fuel storage / shortage of water
electricity distribution system of public electricity due to climatic condition.
occasioned by or happening through or in 9) Deliberate act of the supply undertaking for
consequence directly or indirectly subject to valid whatever reason subject to terms / condition /
licence of the insured, maintenance of rock book, exception of this policy.
purchase, logbook, temperature record etc.
Excess :
Exclusion:
a) 20% of the amount of loss subject to minimum
1) Fire, Riot & Strike, Terrorism & allied perils
of Rs.10,000/- for cold storage who have opted
including natural calamities.
for FOES extension.
2) Wear & Tear & Over loading.
b) 10% of the amount of loss subject to minimum
3) Consequential loss of Rs.10,000/- for cold storage who have not
opted for FOES extension.
4) Damage due to rise in temperature (fall in
temperature below 40 F) caused by stoppage _________________________________
0

148 Portal : www.bimabazaar.com / Website : www.sashipublications.com