BL 41

B-Clauses52 Views
banner 468x60

With effect from 01 May 2003 indemnity that is granted by this Policy in respect of any judgment, award or settlement made within countries which operate under the laws of the United States of America and/or Canada (or any order made anywhere in the world to enforce such judgment, award or settlement either in whole or in part) is subject to the following additional terms and exceptions in respect of such judgment award or settlement.

  1. The indemnity granted by this Policy in respect of the export of the Insured’s Products listed in G. Below to the continent of North America and/or territories elsewhere incorporated therein or administered there from only applies in respect of any claim made against the Insured and notified to Company during the Period of Insurance in respect of Personal Injury and/or Property Damage (notwithstanding any provisions to the contrary in this Policy) However, should the Insured give notice in accordance with the Policy conditions during the  Period of Insurance of any Occurrence, fact or circumstance which may subsequently give rise to a claim being made against the Insured then such claim shall be deemed to have been made during the Period of Insurance. This Endorsement does not apply to any such claims made against the Insured where the date of Personal Injury or Property Damage is prior to 01 May 2003
  1. (i) The Limits of Liability are inclusive of all Law Costs and Expenses as set out in Section 1.2 of this Policy ; and

(ii)       Nothing contained in this endorsement will increase the limit of liability in the aggregate during the period of insurance in respect of all claims arising out of the Insured’s Products as stated in the schedule

banner 336x280
  1. This Policy does not insure for or in respect of punitive damages and/or exemplary damages and/or aggravated and/or any additional damages resulting from the multiplication of compensatory damages.
  1. For the purpose of this endorsement only, Exclusions 4.15.1 and 4.15.2 are deleted and replaced by the following.

Liability for any personal injury or property damage caused by or arising out of discharge, dispersal, release or escape of Pollutants into or upon land the atmosphere or any watercourse or body of water is hereby excluded.

Any costs or expenses incurred in the prevention, removing, nullifying or cleanup of such contamination or pollution

is hereby excluded.

  1. This Policy does not provide indemnity in respect of liability for Personal Injury and/or Property Damage arising from the operation by the Insured within the continent of North America and/or territories elsewhere incorporated therein or administered there from, of any premises or plant for the manufacturing processing, treating, distribution and/or storage of the Insured’s Products.
  1. All disputes arising out of or under this Policy shall be subject to determination by any Court of competent jurisdiction within Australia according to the Law applicable to that jurisdiction.
  1. Solely in respect of coal, Exclusions 4.14 and 4.15 of this Policy are deleted.

INSURED’S PRODUCTS EXPORTED TO U.S.A. AND/OR CANADA

  1. With respect to coverage afforded by this endorsement in respect of the Insured’s Products listed in G. Above, claims arising directly or indirectly out of such products are subject to a cost inclusive deductible of US$ 25,000.-

CURRENCY CLAUSE

It is hereby understood and agreed that in case a claimable loss hereunder, if any is denominated in currency other than the currency stated in the policy Schedule, then the conversion rate shall be the middle rate for bank notes published by the Bank Indonesia on the date of agreement between the insurer and insured as to the amount of loss.

banner 336x280

Leave a Reply

Your email address will not be published. Required fields are marked *