Cover for Existing / Surrounding Property

C-Clauses324 Views
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It is understood and agreed that Section I is extended as follows: –

The Insurers hereby agree that if at any time during the Period of Insurance the Existing Property of the Principal located on or adjoining the Project Site (as defined in the Schedule) shall suffer physical loss or damage arising in connection with the construction, erection, testing, commissioning or initial operation of the Property Insured hereunder the Insurers will indemnify the Insured in respect of such loss or damage but excluding any loss or damage caused by fire, lightning, and explosion which are not in connection with the project, and any loss or damage during demolition work.

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Provided always that: –

  • the liability of Insurers for all loss of or damage to the Existing Property consequent upon an occurrence or series of occurrences resulting from or attributable to one original cause shall not exceed a limit as stated below any one accident and in aggregate during policy period.
  • The Insured shall be responsible for the first Rp. 100.000.000 of each and every occurrence.

Limit: Rp. 1.000.000.000,00

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