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 boilers named in the List of Machinery and Plant Insured, subject to the following conditions:
The Insured shall arrange at his own expense an inspection of all boilers annually or at the intervals prescribed by law. The Insured shall also arrange at his own expense any overhaul required by the competent inspection authority or the manufacturer. The Insured shall inform the Insurers of such inspection or overhaul at least two weeks in advance so that the Insurers’ representatives may be present during the inspection or overhaul at the Insurers’ expense.
These provisions shall apply regardless of the date of commencement of the insurance cover.
The Insured may apply for an extension of the period between inspections and/or overhauls. Such extension shall be granted, provided the inspector or competent authority is in agreement and 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 of all liability for loss of gross profits following loss or damage caused by any circumstance that could have been detected had an inspection and/or overhaul taken place.
