1. (Excess) This Policy does not cover (not applicable to policies covering dwellings) w.e.f. 01/04/2011
a) SI up to INR 10 crore per location– 5% of claim amount subject to a minimum of Rs 10,000/-
b) SI INR 10 to 100 crore per location- 5% of claim amount, minimum of INR 25,000
c) SI INR 100 to 1500 crore per location- 5% of claim amount, minimum of INR 5 lakhs
d) SI INR 1500 to 2500 crore per location- 5% of claim amount, minimum of INR 25 lakhs
e) SI above INR 2500 crore per location- 5% of claim amount, minimum of INR 50 lakhs
The Excess shall apply per event per insured.
2. (War Perils) Loss, destruction or damage caused by war, invasion, act of foreign enemy hostilities or war like operations (whether war be declared or not), civil war, mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, rebellion, revolution, insurrection or military or usurped power.
3. (Nuclear Perils) Loss, destruction or damage directly or indirectly caused to the property insured by
a) Ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear
waste from the combustion of nuclear fuel
b) The radioactive toxic, explosives or other hazardous properties of any explosive nuclear assembly or nuclear component thereof
4. (Pollution & Contamination unless caused by insured perils) Loss, destruction or damage caused to
the insured property by pollution or contamination excluding
a) Pollution or contamination which itself results from a peril hereby insured against.
b) Any peril hereby insured against which itself results from pollution or contamination
5. (Curios, documents etc. > Rs. 10,000) Loss, destruction or damage to bullion or unset precious stones, any curios or works of art for an amount exceeding Rs. 10000/-, manuscripts, plans, drawings, securities, obligations or documents of any kind, stamps, coins or paper money, cheques, books of accounts or other business books, computer systems records, explosives unless otherwise expressly stated in the policy.
6. {Change of temp. (Stocks in cold storage)} Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature
7. (Pure electrical fires) Loss, destruction or damage to any electrical machine, apparatus, fixture, or fitting arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self heating or leakage of electricity from whatever cause (lightning included) provided that this exclusion shall apply only to the particular electrical machine, apparatus, fixture or fitting so affected and not to other machines, apparatus, fixtures or fittings which may be destroyed or damaged by fire so set up.
8. {Architects etc. fees (beyond 3% of claim amount) & Removal of debris (beyond 1% of claim
amount)} Expenses necessarily incurred on (i) Architects, Surveyors and Consulting Engineer's Fees and
(ii) Debris Removal by the Insured following a loss, destruction or damage to the Property insured by an insured peril in excess of 3% and 1% of the claim amount respectively.
9. (Consequential losses) Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever.
10. (Spoilage due to cessation of process) Loss or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the perils covered.
11. (Theft- during/ after loss) Loss by theft during or after the occurrence of any insured peril except as provided under Riot, Strike, & Malicious Damage.
12. (Earthquake) Any Loss or damage occasioned by or through or in consequence directly or indirectly due to earthquake, volcanic eruption or other convulsions of nature.
13. (Shifting of property to other place) Loss or damage to property insured if removed to any building or place other than in which it is herein stated to be insured, except machinery and equipment temporarily
removed for repairs, cleaning, renovation or other similar purposes for a period not exceeding 60 days.
14. Terrorism damage
a) SI up to INR 10 crore per location– 5% of claim amount subject to a minimum of Rs 10,000/-
b) SI INR 10 to 100 crore per location- 5% of claim amount, minimum of INR 25,000
c) SI INR 100 to 1500 crore per location- 5% of claim amount, minimum of INR 5 lakhs
d) SI INR 1500 to 2500 crore per location- 5% of claim amount, minimum of INR 25 lakhs
e) SI above INR 2500 crore per location- 5% of claim amount, minimum of INR 50 lakhs
The Excess shall apply per event per insured.
2. (War Perils) Loss, destruction or damage caused by war, invasion, act of foreign enemy hostilities or war like operations (whether war be declared or not), civil war, mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, rebellion, revolution, insurrection or military or usurped power.
3. (Nuclear Perils) Loss, destruction or damage directly or indirectly caused to the property insured by
a) Ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear
waste from the combustion of nuclear fuel
b) The radioactive toxic, explosives or other hazardous properties of any explosive nuclear assembly or nuclear component thereof
4. (Pollution & Contamination unless caused by insured perils) Loss, destruction or damage caused to
the insured property by pollution or contamination excluding
a) Pollution or contamination which itself results from a peril hereby insured against.
b) Any peril hereby insured against which itself results from pollution or contamination
5. (Curios, documents etc. > Rs. 10,000) Loss, destruction or damage to bullion or unset precious stones, any curios or works of art for an amount exceeding Rs. 10000/-, manuscripts, plans, drawings, securities, obligations or documents of any kind, stamps, coins or paper money, cheques, books of accounts or other business books, computer systems records, explosives unless otherwise expressly stated in the policy.
6. {Change of temp. (Stocks in cold storage)} Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature
7. (Pure electrical fires) Loss, destruction or damage to any electrical machine, apparatus, fixture, or fitting arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self heating or leakage of electricity from whatever cause (lightning included) provided that this exclusion shall apply only to the particular electrical machine, apparatus, fixture or fitting so affected and not to other machines, apparatus, fixtures or fittings which may be destroyed or damaged by fire so set up.
8. {Architects etc. fees (beyond 3% of claim amount) & Removal of debris (beyond 1% of claim
amount)} Expenses necessarily incurred on (i) Architects, Surveyors and Consulting Engineer's Fees and
(ii) Debris Removal by the Insured following a loss, destruction or damage to the Property insured by an insured peril in excess of 3% and 1% of the claim amount respectively.
9. (Consequential losses) Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever.
10. (Spoilage due to cessation of process) Loss or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the perils covered.
11. (Theft- during/ after loss) Loss by theft during or after the occurrence of any insured peril except as provided under Riot, Strike, & Malicious Damage.
12. (Earthquake) Any Loss or damage occasioned by or through or in consequence directly or indirectly due to earthquake, volcanic eruption or other convulsions of nature.
13. (Shifting of property to other place) Loss or damage to property insured if removed to any building or place other than in which it is herein stated to be insured, except machinery and equipment temporarily
removed for repairs, cleaning, renovation or other similar purposes for a period not exceeding 60 days.
14. Terrorism damage
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