above 750 kW for types with 2 poles and
above 1,000 kW for types with 4 poles or more
It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the Insurers shall indemnify the Insured in respect of loss of gross profits in consequence of any accident to the electric motors and generators specified above and named in the List of Machinery and Plant Insured, provided that the following conditions have been complied with:
- The Insured shall arrange at his own expense a complete overhaul (as specified by the manufacturers) after every 8,000 hours of operation or after every 500 start-ups or after a maximum of 2 years following the last overhaul.
- New electric motors and generators shall be overhauled after 2,000 hours or at the latest after one year of operation, whichever occurs first; furthermore, they shall be inspected prior to the termination of the manufacturers’ guarantee period.
- The Insured shall inform the Insurers of such overhaul in good time, but not less than two weeks in advance, thus enabling the Insurers’ representatives to be present during the overhaul at the Insurers’ own expense.
- The Insured shall supply the Insurers with the available reports on the inspection and overhaul.
These provisions shall apply regardless of the inception date of the insurance cover.
The Insured may apply for an extension of the period between overhauls. Such extension shall be granted only if in the opinion of the Insurers the risk is not aggravated thereby.
If the Insured fails to comply with the requirements of this Endorsement, the Insurers shall be free from all liability for the loss of gross profits following loss or damage caused by any circumstance which could have been detected had an overhaul taken place.
