It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy of endorsed thereon, and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to cover
drilling rigs and equipment warranted that such equipment is not used for oil, gas and/or geothermal drilling or for work on existing oil, gas and/or geothermal wells.
Furthermore, Special Exclusion 7 to Section 1 of the Policy is amended by the following wording:
“Los of or damage to drill pipes, collars, rock bits, reamers, stabilizers, core barrels, logging equipment, casings and tools of all kinds while below the rotary table and/or below the ground level. However, above items shall be covered if the loss or damage is caused by earthquake, volcanism, tsunami, storm, cyclone, flood, inundation, fire, explosion and artesian water.”
Extra premium:
