MR 861 – Increased Cost of Electricity, Water, Gas or Steam Supply

M-Clauses176 Views
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It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon, this insurance shall be extended to cover increased cost of elec­tricity, water, gas or steam – hereinafter referred to as energy – due to purchase thereof becoming necessary following an indemnifiable loss of or damage to

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specified in the List of Machinery and Plant Insured.

 The sum insured is the product of the increase in unit cost for the pur­chase of energy (purchase cost minus the cost that would be incurred by the Insured generating his own energy) and the annual amount of the units generated by the machinery insured.

 Expenses for maximum demand charges shall be excluded under this Endorsement.

 Refund of premium may be granted only in respect of the amount of units generated.

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