Exhibit A

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 1 of 119 PageID #:6
Dorothy Brown, Clerk of the Circuit Court of Cook County, Illinois

cookcountyclerkofcourt.org

Page 1 of 3

2120 - Served 2121 - Served

2220 - Not Served 2221 - Not Served

2320 - Served By Mail 2321 - Served By Mail

2420 - Served By Publication 2421 - Served By Publication

Summons - Alias Summons (08/01/18) CCG 0001 A

IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS

(Name all parties)

v.

Case No. 

SUMMONS ALIAS SUMMONS

To each Defendant:

<28$5(680021('DQGUHTXLUHGWRÀOHDQDQVZHUWRWKHFRPSODLQWLQWKLVFDVHDFRS\RI 

ZKLFKLVKHUHWRDWWDFKHGRURWKHUZLVHÀOH\RXUDSSHDUDQFHDQGSD\WKHUHTXLUHGIHHwithin thirty 

(30) days after service of this SummonsQRWFRXQWLQJWKHGD\RI VHUYLFH7RÀOH\RXUDQVZHURU

DSSHDUDQFH\RXQHHGDFFHVVWRWKHLQWHUQHW3OHDVHYLVLWZZZFRRNFRXQW\FOHUNRIFRXUWRUJ to initiate

WKLVSURFHVV.LRVNVZLWKLQWHUQHWDFFHVVDUHDYDLODEOHDWDOO&OHUN·V2IÀFHORFDWLRQV3OHDVHUHIHUWR

the last page of this document for location information.

If you fail to do so, a judgment by default may be entered against you for the relief 

requested in the complaint.

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ZLWKHQGRUVHPHQWRI VHUYLFHDQGIHHVLI DQ\LPPHGLDWHO\DIWHUVHUYLFH,I VHUYLFHFDQQRWEHPDGH

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GD\VDIWHULWVGDWH

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METAL MANAGEMENT, INC.,

FACTORY MUTUAL INSURANCE CO.,

 2020 CH 03970

✔

FILED

4/29/2020 4:31 PM

DOROTHY BROWN

CIRCUIT CLERK

COOK COUNTY, IL

2020CH03970

9167010

Return Date: No return date scheduled

Hearing Date: 8/24/2020 10:00 AM - 10:00 AM

Courtroom Number: 2405

Location: District 1 Court

 Cook County, IL FILED DATE: 4/29/2020 4:31 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 2 of 119 PageID #:7
Dorothy Brown, Clerk of the Circuit Court of Cook County, Illinois

cookcountyclerkofcourt.org

Page 2 of 3

Witness: 

'2527+<%52:1&OHUNRI &RXUW

Date of Service: ___________

7REHLQVHUWHGE\RIÀFHURQFRS\OHIWZLWK

Defendant or other person):

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FUHDWHDQDFFRXQWZLWKDQHILOLQJVHUYLFHSURYLGHU9LVLWKWWSHILOHLOOLQRLVFRXUWVJRYVHUYLFHSURYLGHUVKWP

WROHDUQPRUHDQGWRVHOHFWDVHUYLFHSURYLGHU,I \RXQHHGDGGLWLRQDOKHOSRUKDYHWURXEOHHÀOLQJYLVLWKWWS

ZZZLOOLQRLVFRXUWVJRY)$4JHWKHOSDVSRUWDONZLWK\RXUORFDOFLUFXLWFOHUN·VRIÀFH

Summons - Alias Summons (08/01/18) CCG 0001 B

$WW\1R ________________

$WW\1DPH

$WW\IRU

Address: 

&LW\ ____________________________

State: ____ Zip: ________

Telephone: ________________________

3ULPDU\(PDLO

63278

Thomas A. Vickers/MVRH

Plaintiff

150 S. Wacker Drive, 24th Floor

Chicago

IL 60606

(312) 224-1520

tav@mvrhlaw.com

4/29/2020 4:31 PM DOROTHY BROWN

+<%52:1&OHUN

e:

FILED DATE: 4/29/2020 4:31 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 3 of 119 PageID #:8
Dorothy Brown, Clerk of the Circuit Court of Cook County, Illinois

cookcountyclerkofcourt.org

Page 3 of 3

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CLERK OF THE CIRCUIT COURT OF COOK COUNTY OFFICE LOCATIONS

FILED DATE: 4/29/2020 4:31 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 4 of 119 PageID #:9
IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS 

COUNTY DEPARTMENT, CHANCERY DIVISION 

METAL MANAGEMENT, INC., ) 

 ) 

 Plaintiff, ) 

 ) 

 v. ) No. _____________ 

 ) 

FACTORY MUTUAL INSURANCE ) Jury Trial Demanded 

COMPANY, ) 

 ) 

 Defendant. ) 

COMPLAINT 

Now Comes Plaintiff, METAL MANAGEMENT, INC., through its Attorneys, MASINI, 

VICKERS, RUKSAKIATI & HADSELL, P.C., and for its Complaint against Defendant, 

FACTORY MUTUAL INSURANCE COMPANY, alleges as follows: 

PARTIES

1. Metal Management, Inc. (hereinafter “Plaintiff” or Metal Management”), is a 

Delaware corporation with its principal place of business located in Chicago, Illinois. 

2. Factory Mutual Insurance Company (hereinafter “Factory Mutual”), is a Rhode 

Island company with its principal place of business located in Johnston, Rhode Island. 

3. Factory Mutual maintains an office in Park Ridge, Cook County, Illinois. 

4. Factory Mutual is in the business of underwriting and selling, among other insurance, 

all risks property insurance to policyholders located throughout the United States, including 

Illinois. 

2020CH03970

FILED

4/24/2020 2:23 PM

DOROTHY BROWN

CIRCUIT CLERK

COOK COUNTY, IL

2020CH03970

9140702

Return Date: No return date scheduled

Hearing Date: 8/24/2020 10:00 AM - 10:00 AM

Courtroom Number: 2405

Location: District 1 Court

 Cook County, IL FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 5 of 119 PageID #:10 12-Person Jury
2 

5. Factory Mutual issued the all risks property insurance policy at issue in this lawsuit. 

JURISDICTION AND VENUE

6. An actual controversy of a justiciable nature exists between Plaintiff and Defendant 

involving Plaintiff’s rights and Defendant’s obligations under the all risks property insurance 

policy at issue, which controversy may be determined by the judgment of this Court and, therefore, 

this Court has jurisdiction pursuant to the Declaratory Judgment Act, 735 ILCS 5/2-701. 

7. Venue is proper in this Court pursuant to 735 ILCS 5/2-101 because both Parties 

conduct business in Cook County, Illinois, and because the insurance policy at issue was delivered 

to Plaintiff’s office in Chicago, IL. 

INSURANCE POLICY AT ISSUE

8. Factory Mutual issued Policy No. 1047248, which incepted on December 1, 2018 

(hereinafter the “Policy”). A true and accurate copy of the Policy is attached hereto as Exhibit “A.” 

9. The Policy covers property, as described in the Policy, against “ALL RISKS OF 

PHYSICAL LOSS OR DAMAGE, except as excluded, while located as described in [the] Policy.” 

(See Ex. A, p. 1) 

10. Among the locations described and insured under the Policy is Location No. 94, 

which is a metal recycling facility located in Catoosa, Oklahoma (the “Catoosa Location”). 

11. The Catoosa Location is operated by Plaintiff’s subsidiary Sims Southwest 

Corporation, f/k/a and identified in the Policy as Proler Southwest Corporation. 

12. The Policy covers Plaintiff’s Time Element losses, including Gross Earning, Gross 

Profit and Extra Expense, directly resulting from physical loss or damage from flood, subject to 

the terms and conditions of the Policy. 

13. The Policy insures Plaintiff against its Time Element losses, in part, as follows: 

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 6 of 119 PageID #:11
3 

LOSS INSURED 

A. This Policy insures TIME ELEMENT loss, as provided in the TIME 

ELEMENT COVERAGES, directly resulting from physical loss or damage 

of the type insured: 

1) to property described elsewhere in this Policy and not otherwise 

excluded by this Policy or otherwise limited in the TIME ELEMENT 

COVERAGES below; 

2) used by the Insured, or for which the Insured has contracted use; 

3) while located as described in the INSURANCE PROVIDED provision 

or within 1,000 feet/300 metres thereof, or as described in the 

TEMPORARY REMOVAL OF PROPERTY provision; [and] 

* * * 

4) during the Periods of Liability described in this section, 

 * * * 

(Ex. A, pages 40-41) 

14. Once triggered, the Policy insures Plaintiff against its Time Element losses during 

the Period of Liability, as defined in the Policy. 

15. The Policy defines the Period of Liability as follows: 

PERIOD OF LIABILITY 

A. The PERIOD OF LIABILITY applying to all TIME ELEMENT 

COVERAGES, except GROSS PROFIT and LEASEHOLD INTEREST 

and as shown below or if otherwise provided under any TIME ELEMENT 

COVERAGE EXTENSION, and subject to any Time Limit provided in the 

LIMITS OF LIABILITY clause in the DECLARATIONS section, is as 

follows: 

1) For building and equipment, the period: 

a) starting from the time of physical loss or damage of the type insured; and 

b) ending when with due diligence and dispatch the building and equipment 

could be: 

(i) repaired or replaced; and 

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 7 of 119 PageID #:12
4 

(ii) made ready for operations, 

under the same or equivalent physical and operating conditions that existed 

prior to the damage. 

(Ex. A, pages 46-47) 

16. The Policy provides an Extended Period of Liability, which, if triggered, extends 

the Gross Earnings business interruption coverage as follows: 

 * * * 

2) for such additional length of time as would be required with the exercise of due 

diligence and dispatch to restore the Insured’s business to the condition that would 

have existed had no loss happened; and 

3) commencing with the date on which the liability of the Company for loss resulting 

from interruption of business would terminate if this Extension had not been 

included in this Policy. 

(Ex. A, page 58) 

FACTUAL BACKGROUND

17. In May 2019, Plaintiff’s Catoosa Location sustained covered property damage during 

a flood event. 

18. The covered property damage at the Catoosa Location included electric panels, 

motors, and a barge dock/pier chute. 

19. As a direct result of this covered property damage, Plaintiff was unable to load barges 

and ship scrap metal from the Catoosa Location. 

20. As a result of this covered property damage, Plaintiff sustained Time Element losses, 

including a loss of business income. 

21. Plaintiff provided Defendant timely notice of the Catoosa Location flood event and 

its losses and has otherwise complied with all conditions precedent under the Policy. 

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

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5 

22. By letter from its designated adjuster dated December 12, 2019, Defendant denied 

Plaintiff’s Time Element loss claims. 

23. Defendant denied Plaintiff’s Time Element loss insurance claims based on a Policy 

exclusion. 

COUNT I 

(Declaratory Judgment Against Factory Mutual) 

24. Plaintiff repeats and realleges paragraphs 1 through 23 above as paragraph 24 of 

Count I as though fully set forth herein. 

25. Plaintiff sustained covered property damage and Time Element losses as defined in 

the Policy. 

26. Defendant denies that it has any obligation to indemnify Plaintiff for the Time 

Element losses it sustained at the Catoosa Location as a result of the May 2019 flood event. 

27. Defendant denies Plaintiff’s claim for indemnity under the Policy based on subparagraph 4) of the following exclusion: 

4. TIME ELEMENT EXCLUSIONS 

In addition to the exclusions elsewhere in this Policy, the following exclusions 

apply to TIME ELEMENT loss: 

This Policy does not insure: 

A. Any loss during any idle period, including but not limited to when 

production, operation, service or delivery or receipt of goods would cease, 

or would not have taken place or would have been prevented due to: 

1) physical loss or damage not insured by this Policy on or off of the 

insured location. 

2) planned or rescheduled shutdown. 

3) strikes or other work stoppage. 

4) any other reason other than physical loss or damage insured under this 

Policy. 

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 9 of 119 PageID #:14
6 

(Ex. A, page 49) 

28. Plaintiff denies that the exclusion relied upon by Defendant precludes coverage for 

the Time Element losses claimed by Plaintiff under the Policy. 

29. An actual, justiciable controversy exists between Plaintiff and Defendant regarding 

whether the Time Element losses sustained by Plaintiff are covered under the Policy. 

WHEREFORE, Plaintiff respectfully request that this Honorable Court enter judgment in 

its favor and against Defendant, including the following relief: 

a. A declaratory judgment addressing Plaintiff’s rights and Defendant’s 

obligations under the Policy, and declaring that the Time Element and other 

losses sustained by Plaintiff as a result of the May 2019 flood event at the 

Catoosa Location are covered under the Policy; 

b. A declaratory judgment addressing Plaintiff’s rights and Defendant’s 

obligations under the Policy, and declaring that the exclusion relied upon by 

Defendant does not apply to preclude coverage under the Policy for the Time 

Element and other losses sustained by Plaintiff; 

c. An award of ancillary relief under the Declaratory Judgment Act in the amount 

of Plaintiff’s Time Element and other losses payable under the Policy; 

d. An award of fees and costs incurred by Plaintiff in prosecuting this lawsuit; 

and, 

e. Such other and further relief as this Court deems proper. 

COUNT II 

(Breach of Contract Against Factory Mutual) 

30. Plaintiff repeats and realleges paragraphs 1 through 29 above as paragraph 30 of 

Count II as though fully set forth herein. 

31. Plaintiff has sustained financial losses that are covered under the Policy. 

32. Plaintiff provided timely notice to Defendant of its insurance claim under the Policy. 

33. Plaintiff has otherwise complied with all conditions precedent to coverage under the 

Policy. 

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 10 of 119 PageID #:15
7 

34. Defendant has failed to acknowledge coverage for Plaintiff’s Time Element losses 

under the Policy. 

35. Defendant has failed to properly evaluate the facts and interpret the Policy, and as a 

result, failed to properly indemnify Plaintiff under the Policy. 

36. Defendant’s failure to acknowledge coverage, properly apply the Policy, and 

indemnify Plaintiff for its Time Element losses constitutes a breach by Defendant of its obligations 

under the Policy. 

37. As a direct and proximate result of Defendant’s breach of contract, Plaintiff has been 

damaged in an amount in excess of $3,600,000.00, exclusive of interest, costs and attorney’s fees. 

WHEREFORE, Plaintiff respectfully requests that this Honorable Court enter judgment in 

their favor and against Defendant, including the following relief: 

a. An award of damages in Plaintiff’s favor and against Defendant for an amount 

excess of $3,600,000.00, plus pre-judgment interest; 

b. An award of penalties, fees, and costs incurred by Plaintiff in prosecuting this 

lawsuit; and, 

c. Such other and further relief as this Court deems proper. 

Respectfully submitted, 

MASINI, VICKERS, RUKSAKIATI & HADSELL, P.C. 

By: /s/ Thomas A. Vickers 

Thomas A. Vickers 

tav@mvrhlaw.com

Scott A. Ruksakiati 

sar@mvrhlaw.com 

MASINI, VICKERS, RUKSAKIATI & HADSELL, P.C. 

150 S. Wacker Drive, 24th Floor 

Chicago, Illinois 60606 

(312) 224-1520 

Attorney No. 63278 

Attorneys for Plaintiff, METAL MANAGEMENT, INC. 

Https://mvrh.sharepoint.com/Shared Documents/19-0053/Pleadings/Metal Management Complaint 04-24-20.docx 

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 11 of 119 PageID #:16
Factory Mutual Insurance Company

P.O. Box 7500

Johnston, Rhode Island 02919

1-800-343-7722

DECLARATIONS

Policy No.

1047248

Account No.

1-85457

Previous Policy No.

1020830

Replaces Binder No.

DATE OF ISSUE

29 November 2018

In consideration of this Policy’s Provisions, Conditions, Stipulations, Exclusions and Limits of Liability, and of premium charged, 

Factory Mutual Insurance Company, hereafter referred to as the Company, does insure:

The term of this Policy is from the 1st day of December, 2018 to the 1st day of December, 2019 at 12:01 a.m., Standard Time, at

the Locations of property involved as provided in this Policy.

This Policy covers property, as described in this Policy, against ALL RISKS OF PHYSICAL LOSS OR DAMAGE, except as 

hereinafter excluded, while located as described in this Policy.

By virtue of this Policy and any other policies purchased from the Company being in force, the Insured becomes a member of the 

Company, subject to the provisions of its charter and by-laws, and is entitled to one vote either in person or by proxy at any and all 

meetings of said Company.

Assignment of this Policy will not be valid except with the written consent of the Company.

This Policy is made and accepted subject to the above provisions and those hereinafter stated, which are made a part of this 

Policy, together with such other provisions and agreements as may be added to this Policy.

In Witness, this Company has issued this Policy at its office in the city of Johnston, R. I.

this 29th day of November, 2018.

_______________________________________________

Authorized Signature

Countersigned (if required) this day of _________________________________________________

Agent

Florida information: "THIS POLICY CONTAINS A SEPARATE 

DEDUCTIBLE FOR HURRICANE LOSSES, WHICH MAY 

RESULT IN HIGH OUT-OF-POCKET EXPENSES TO YOU."

Form FMGA DEC Printed in U.S.A.

7020 (10/13)

INSURED:

Sims Metal Management Limited

Secretary President

MUTUAL CORPORATION

NON-ASSESSABLE POLICY

(For Complete Title See Policy)

(;+,%,7$

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 12 of 119 PageID #:17
FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 13 of 119 PageID #:18
In case of loss notify the company 

or its local agent at once in writing.

This policy is Non-Assessable.

It is important that the written 

portions of all policies covering

the same property read exactly 

alike. If they do not, they should 

be made uniform at once.

Factory Mutual Insurance Company

Johnston, Rhode Island

A Mutual Corporation

In case of loss notify the company

This policy is Non-Assessable.

It is important that the written 

portions of all policies covering

the same property read exactly

alike. If they do not, they should 

be made uniform at once.

Factory Mutual Insurance Company

Johnston, Rhode Island

A Mutual Corporation

7019 (9/01)

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 14 of 119 PageID #:19
This policy is issued by a mutual company having special regulations lawfully applicable to its organization, 

membership, policies, or contracts of insurance of which the following shall apply to and form a part of this policy.

EXTRACTS FROM CHARTER OF THIS COMPANY

Granted by the General Assembly of the State of Rhode Island

SECTION 5: Except as hereinafter specifically provided, each natural person, partnership, association, corporation or 

legal entity insured on the mutual plan by the Corporation shall be a member of the Corporation during the term of its policy but 

no longer, and at all meetings of the members shall be entitled to one vote either in person or by proxy, provided, however, that 

where there is more than one insured under any policy, such insureds shall nevertheless be deemed to be a single member of the 

Corporation for all purposes. The Corporation may issue policies which do not entitle the insured to membership in the 

Corporation nor to participate in its surplus.

SECTION 10: Upon the termination of the membership of any member, all his or its right and interest in the surplus, 

reserves and other assets of the Corporation shall forthwith cease. 

EXTRACTS FROM THE BY-LAWS OF THIS COMPANY

Adopted July 13, 2000

ARTICLE 1 – MEETINGS OF THE MEMBERS

SECTION 1. Annual Meeting

The annual meeting of the members shall be held at the principal offices of the Company, or at such other place as may 

be stated in the notice of the meeting, at 9:00 a.m. on the second Thursday of April in each year, for the election of directors and 

the transaction of such other business as may be brought before the meeting. If the annual meeting is omitted on the day herein 

provided therefor, a special meeting may be held in place thereof; and any business transacted or elections held at such special 

meeting shall be as effective as if transacted or held at the annual meeting.

7019 (9/01)

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 15 of 119 PageID #:20
Account No. 1-85457

Policy No. 1047248 

TABLE OF CONTENTS

(Order In Which They Appear) Page No.

Printed 30-Nov-2018 Page 1

Advantage - TE Select - US Global - 2016 ©2017 FM Global. All rights reserved

DECLARATIONS PAGE

DECLARATIONS

1. NAMED INSURED AND MAILING ADDRESS ............................................................................1

2. POLICY DATES................................................................................................................................1

3. INSURANCE PROVIDED ................................................................................................................1

4. PREMIUM .........................................................................................................................................1

5. PREMIUM PAYABLE ......................................................................................................................1

6. LOSS ADJUSTMENT/PAYABLE....................................................................................................1

7. DEDUCTIBLE REIMBURSEMENT................................................................................................2

8. TERRITORY......................................................................................................................................2

9. MASTER GLOBAL INSURING POLICY .......................................................................................3

10. JURISDICTION .................................................................................................................................3

11. CURRENCY ......................................................................................................................................4

12. LIMITS OF LIABILITY....................................................................................................................4

13. DEDUCTIBLES.................................................................................................................................8

PROPERTY DAMAGE

1. INSURED PROPERTY ...................................................................................................................12

2. EXCLUDED PROPERTY ...............................................................................................................12

3. EXCLUSIONS .................................................................................................................................14

4. APPLICATION OF POLICY TO DATE OR TIME RECOGNITION ...........................................18

5. VALUATION...................................................................................................................................18

6. ADDITIONAL COVERAGES ........................................................................................................20

CYBER ADDITIONAL COVERAGES ..........................................................................................20

A. DATA, PROGRAMS OR SOFTWARE................................................................................20

B. OFF PREMISES DATA SERVICES PROPERTY DAMAGE ............................................21

OTHER ADDITIONAL COVERAGES ..........................................................................................22

A. ACCIDENTAL INTERRUPTION OF SERVICES ..............................................................23

B. ACCOUNTS RECEIVABLE ................................................................................................23

C. AUTOMATIC COVERAGE.................................................................................................24

D. BRANDS AND LABELS......................................................................................................24

E. CLAIMS PREPARATION COSTS.......................................................................................25

F. COINSURANCE DEFICIENCY AND CURRENCY DEVALUATION ............................25

G. COMMUNICABLE DISEASE RESPONSE ........................................................................26

H. CONSEQUENTIAL REDUCTION IN VALUE...................................................................26

I. DEBRIS REMOVAL.............................................................................................................26

J. DECONTAMINATION COSTS...........................................................................................27

K. ERRORS AND OMISSIONS................................................................................................27

L. EXPEDITING COSTS ..........................................................................................................28

M. FINE ARTS AND VALUABLE PAPERS AND RECORDS...............................................28

N. INSTALLMENT OR DEFERRED PAYMENTS .................................................................29

O. LAND AND WATER CONTAMINANT CLEANUP, REMOVAL AND DISPOSAL ......29

P. LAW AND ORDINANCE ....................................................................................................30

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 16 of 119 PageID #:21
Account No. 1-85457

Policy No. 1047248 

TABLE OF CONTENTS

(Order In Which They Appear) Page No.

Printed 30-Nov-2018 Page 2

Advantage - TE Select - US Global - 2016 ©2017 FM Global. All rights reserved

Q. LOSS PAYMENT INCREASED TAX LIABILITY ............................................................31

R. MACHINERY OR EQUIPMENT STARTUP OPTION.......................................................32

S. MISCELLANEOUS PROPERTY.........................................................................................33

T. NEIGHBOUR’S RECOURSE AND TENANT’S LIABILITY............................................34

U. OPERATIONAL TESTING ..................................................................................................34

V. PROTECTION AND PRESERVATION OF PROPERTY...................................................34

W. SERVICE INTERRUPTION PROPERTY DAMAGE .........................................................35

X. TEMPORARY REMOVAL OF PROPERTY.......................................................................36

Y. TERRORISM.........................................................................................................................36

Z. TRANSPORTATION............................................................................................................37

TIME ELEMENT

1. LOSS INSURED ..............................................................................................................................40

2. TIME ELEMENT COVERAGES....................................................................................................41

A. INSURED OPTION...............................................................................................................41

B. GROSS EARNINGS..............................................................................................................41

C. GROSS PROFIT ....................................................................................................................42

D. EXTRA EXPENSE................................................................................................................44

E. LEASEHOLD INTEREST ....................................................................................................45

F. RENTAL INSURANCE ........................................................................................................46

3. PERIOD OF LIABILITY.................................................................................................................46

4. TIME ELEMENT EXCLUSIONS...................................................................................................49

5. TIME ELEMENT COVERAGE EXTENSIONS ............................................................................50

CYBER TIME ELEMENT COVERAGE EXTENSIONS ..............................................................50

A. COMPUTER SYSTEMS NON PHYSICAL DAMAGE ......................................................50

B. OFF PREMISES DATA SERVICES TIME ELEMENT ......................................................50

SUPPLY CHAIN TIME ELEMENT COVERAGE EXTENSIONS ...............................................52

A. CIVIL OR MILITARY AUTHORITY..................................................................................52

B. CONTINGENT TIME ELEMENT EXTENDED .................................................................52

C. INGRESS/EGRESS ...............................................................................................................53

D. LOGISTICS EXTRA COST..................................................................................................54

E. SERVICE INTERRUPTION TIME ELEMENT...................................................................55

ADDITIONAL TIME ELEMENT COVERAGE EXTENSIONS...................................................56

A. ATTRACTION PROPERTY.................................................................................................56

B. CRISIS MANAGEMENT .....................................................................................................57

C. DELAY IN STARTUP ..........................................................................................................58

D. EXTENDED PERIOD OF LIABILITY ................................................................................58

E. INTERRUPTION BY COMMUNICABLE DISEASE.........................................................59

F. ON PREMISES SERVICES..................................................................................................60

G. PROTECTION AND PRESERVATION OF PROPERTY TIME ELEMENT ....................60

H. RELATED REPORTED VALUES .......................................................................................60

I. RESEARCH AND DEVELOPMENT...................................................................................60

J. SOFT COSTS ........................................................................................................................61

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Account No. 1-85457

Policy No. 1047248 

TABLE OF CONTENTS

(Order In Which They Appear) Page No.

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LOSS ADJUSTMENT AND SETTLEMENT

1. REQUIREMENTS IN CASE OF LOSS ..........................................................................................62

2. CURRENCY FOR LOSS PAYMENT.............................................................................................63

3. PARTIAL PAYMENT OF LOSS SETTLEMENT .........................................................................63

4. COLLECTION FROM OTHERS ....................................................................................................63

5. SUBROGATION .............................................................................................................................63

6. COMPANY OPTION ......................................................................................................................64

7. ABANDONMENT...........................................................................................................................64

8. APPRAISAL ....................................................................................................................................64

9. SUIT AGAINST THE COMPANY.................................................................................................65

10. SETTLEMENT OF CLAIMS ..........................................................................................................65

GENERAL PROVISIONS

1. CANCELLATION/NON-RENEWAL.............................................................................................66

2. INSPECTIONS.................................................................................................................................66

3. PROVISIONS APPLICABLE TO SPECIFIC JURISDICTIONS...................................................66

4. LIBERALIZATION .........................................................................................................................69

5. MISREPRESENTATION AND FRAUD........................................................................................69

6. LENDERS LOSS PAYEE AND MORTGAGEE INTERESTS AND OBLIGATIONS ................70

7. OTHER INSURANCE.....................................................................................................................71

8. POLICY MODIFICATION .............................................................................................................72

9. REDUCTION BY LOSS..................................................................................................................72

10. SUSPENSION..................................................................................................................................72

11. TITLES.............................................................................................................................................72

12. ASSIGNMENT ................................................................................................................................72

13. DEFINITIONS .................................................................................................................................72

SCHEDULE OF LOCATIONS.............................................................................................. APPENDIX A

SCHEDULE OF SA RECYCLING, LLC LOCATIONS........................................................APPENDIX B

SRS DEDUCTIBLE LOCATIONS.........................................................................................APPENDIX C

CYBER OPTIMAL RECOVERY ENDORSEMENT, Form FMG7558

SUPPLEMENTAL UNITED STATES CERTIFIED ACT OF TERRORISM ENDORSEMENT, Form 

FMG7308

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DECLARATIONS

This Policy covers property, as described in this Policy, against ALL RISKS OF PHYSICAL 

LOSS OR DAMAGE, except as hereinafter excluded, while located as described in this Policy.

1. NAMED INSURED AND MAILING ADDRESS

Sims Metal Management Limited and any subsidiary, and Sims Metal Management Limited

interest in any partnership or joint venture in which Sims Metal Management Limited has 

management control or ownership as now constituted or hereafter is acquired, including the 100% 

interest in SA Recycling, LLC as the respective interest of each may appear; all hereafter referred 

to as the “Insured,” including legal representatives.

200 West Madison Street, Suite 3600

Chicago, Illinois 60606

2. POLICY DATES

TERM: One year

FROM:01 December, 2018 at 12:01 a.m., Standard Time;

TO: 01 December, 2019 at 12:01 a.m., Standard Time,

at the location of property involved as provided in this Policy.

3. INSURANCE PROVIDED

The coverage under this Policy applies to property described on the Schedule of Locations or 

covered under the terms and conditions of the AUTOMATIC COVERAGE, ERRORS AND 

OMISSIONS or MISCELLANEOUS PROPERTY provisions, unless otherwise provided.

Schedule of Locations are as listed on the Schedule of Locations attached to this Policy.

4. PREMIUM

This Policy is issued in consideration of an initial premium.

5. PREMIUM PAYABLE

Arthur J. Gallagher Risk Management Services, Inc. pays the premium under this Policy, and any 

return of the paid premium accruing under this Policy will be paid to the account of Arthur J. 

Gallagher Risk Management Services, Inc.

6. LOSS ADJUSTMENT/PAYABLE

Loss, if any, will be adjusted with and payable to Sims Metal Management Limited, or as may be 

directed by Sims Metal Management Limited.

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Additional insured interests will also be included in loss payment as their interests may appear 

when named as additional named insured, lender, mortgagee and/or loss payee either on a 

Certificate of Insurance or other evidence of insurance on file with the Company or named below.

When named on a Certificate of Insurance or other evidence of insurance, such additional interests 

are automatically added to this Policy as their interests may appear as of the effective date shown 

on the Certificate of Insurance or other evidence of insurance. The Certificate of Insurance or other 

evidence of insurance will not amend, extend or alter the terms, conditions, provisions and limits of 

this Policy.

7. DEDUCTIBLE REIMBURSEMENT

At the written request of the Insured, and in accordance with any Certificates of Insurance or other 

written evidence that may then be issued to protect the insurable interests of any third party 

covered hereunder, this Company shall adjust and pay losses in full without regard to any 

deductible provision which would otherwise apply under the terms and conditions of this Policy; 

such loss to be adjusted with Sims Metal Management Limited and payable to Sims Metal 

Management Limited and appropriate loss payee(s) as their interests may appear.

It is further agreed that in any case where a loss is adjusted and payment made in accordance with 

the above, Sims Metal Management Limited agrees to reimburse this Company as respects such 

loss payment for that amount which is equal to but not exceeding the amount of the deductible that 

would have been applicable had this provision not been in effect. Such reimbursement shall be 

made within 30 days, payable to and forwarded to the Factory Mutual Insurance Company, 300 

South Northwest Highway, Park Ridge, IL 60068.

8. TERRITORY

Coverage as provided under this Policy applies worldwide except does not apply in:

Afghanistan; Albania; Algeria; Angola; Armenia; Azerbaijan; Bangladesh; Belarus; Belize; Benin; 

Bhutan; Botswana; Burkina Faso; Burundi; Cambodia; Cameroon; Central African Republic; 

Chad; Cote D’Ivoire; Cuba; Democratic Republic of the Congo; Djibouti; Egypt; Equatorial 

Guinea; Eritrea; Ethiopia; Fiji; Gabon; Gambia; Georgia; Ghana; Grenada; Guinea; Guinea-Bissau; 

Guyana; Haiti; Honduras; Jammu and Kashmir in India; Iran; Iraq; Israel; Gaza Strip, West Bank 

and territories north of Latitude 32.80 N in Israel; Kenya; Laos; Lebanon; Lesotho; Liberia; Libya; 

Madagascar; Malawi; Mali; Mauritania; Mauritius; Moldova; Mongolia; Montenegro; Montserrat; 

Mozambique; Myanmar; Namibia; Nepal; Niger; Nigeria; North Korea; Pakistan; Papua New 

Guinea; Aksai Chin and Trans-Karakoram Tract in People’s Republic of China; Republic of the 

Congo; Chechen Republic of the Russian Federation; Rwanda; Senegal; Seychelles; Sierra Leone; 

Somalia; Sri Lanka; South Sudan; Sudan; Swaziland; Syria; Tajikistan; Tanzania; Timor-Leste; 

Togo; Agri, Batman, Bingol, Bitlis, Diyarbakir, Elazig, Hakkari, Igdir, Mardin, Mus, Sanliurfa, 

Siirt, Sirnak and Van in Turkey; Turkmenistan; Uganda; Ukraine; Crimea Region of Ukraine; 

Uzbekistan; Venezuela; Yemen; Zambia; and Zimbabwe.

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9. MASTER GLOBAL INSURING POLICY

This Policy is designated the Master Global Insuring Policy. Coverage under this Policy shall 

apply only after the coverage provided under the local policy issued by the Company, its 

representative company(ies) or any other insurance company has been exhausted. Such local 

policy will be the first policy to respond in the event of loss or damage. Only upon exhaustion of 

coverage under the local policy, this Policy covers:

A. the difference in definitions, perils, conditions or coverages between the local policy and this 

Policy; and

B. the difference between the limit(s) of liability stated in the local policy and this Policy,

provided that:

1) the coverage is provided under this Policy;

2) the limit(s) of liability has been exhausted under the local policy, and

3) the deductible(s) applicable to such claim for loss or damage under the local policy has 

been applied. If the deductible applied in the local policy is different from the

deductible that would have been applied for such loss under this Policy, then this Policy 

will provide for such difference in deductible.

Any coverage provided under the local policy that is not provided under this Policy does not extend 

to this Policy. As respects representative company(ies) only, any insolvency or bankruptcy of the 

local insurance company shall be considered exhaustion of coverage under the local policy.

As respects local policies issued by companies other than this Company or its representative 

company(ies), the following also applies:

A. This Policy will not cover:

1) any financial loss due to insolvency or bankruptcy of the insurance company issuing the 

local policy.

B. It is agreed that during the term of this Policy the Insured will not cancel or restrict any 

insurance in force at the time coverage hereunder attaches, which covers the same risk(s) as 

covered hereunder, without the knowledge and consent of the Company.

C. If the local policy is cancelled, restricted or allowed to expire and not renewed without the 

knowledge and consent of the Company, this coverage will continue to apply as though such 

local policy had been maintained in full force and effect.

10. JURISDICTION

This Policy will be governed by the laws of the United States of America.

Any disputes arising hereunder will be exclusively subject to United States of America jurisdiction.

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11. CURRENCY

All amounts, including deductibles, premiums and limits of liability, indicated in this Policy shall 

be in the currency represented by the three letter currency designation shown. This three letter 

currency designator is defined in Table A.1-Currency and funds code list, International 

Organization for Standardization (ISO) 4217, edition in effect at the inception of this Policy.

12. LIMITS OF LIABILITY

The Company’s maximum limit of liability in an occurrence, including any insured TIME 

ELEMENT loss, will not exceed the Policy limit of liability of USD500,000,000 subject to the 

following provisions:

A. Limits of liability and time limits stated below or elsewhere in this Policy are part of, and not 

in addition to, the Policy limit of liability.

B. Limits of liability in an occurrence apply to the total loss or damage at all locations and for 

all coverages involved, including any insured TIME ELEMENT loss, subject to the 

following provisions:

1) when a limit of liability applies in the aggregate during any policy year, the 

Company’s maximum amount payable will not exceed such limit of liability during any 

policy year.

2) when a limit of liability applies to a location or other specified property, such limit of 

liability will be the maximum amount payable for all loss or damage at all locations

arising from physical loss or damage at such location or to such other specified 

property.

C. Should an occurrence result in liability payable under more than one policy issued to the 

Named Insured by the Company, or its representative companies, the maximum amount 

payable in the aggregate under all such policies will be the applicable limit(s) of liability 

indicated in this Policy.

Applicable Limits of Liability/Time Limits:

ATTRACTION PROPERTY 30 consecutive days

AUTOMATIC COVERAGE 90 day period but not to exceed a 

USD100,000,000 limit, per location

CIVIL OR MILITARY AUTHORITY 30 consecutive days

CLAIMS PREPARATION COSTS USD500,000 plus 50% of the amount 

recoverable under this coverage in excess of 

USD500,000 but not to exceed a USD2,500,000 

limit combined

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COINSURANCE DEFICIENCY AND 

CURRENCY DEVALUATION

USD100,000,000

COMMUNICABLE DISEASE RESPONSE USD1,000,000 in the aggregate during any 

policy year

The Company’s maximum limit of liability for 

INTERRUPTION BY COMMUNICABLE 

DISEASE and this coverage combined shall not 

exceed USD1,000,000 in the aggregate during 

any policy year regardless of the number of 

locations, coverages or occurrences involved.

COMPUTER SYSTEMS NON PHYSICAL 

DAMAGE and DATA, PROGRAMS OR 

SOFTWARE combined

USD10,000,000 in the aggregate during any 

policy year

CONTINGENT TIME ELEMENT 

EXTENDED

USD25,000,000

CRISIS MANAGEMENT 30 consecutive days

earth movement USD100,000,000 in the aggregate during any 

policy year but not to exceed the following 

limits in the aggregate during any policy year:

a) USD25,000,000 for property located in 

the New Madrid Seismic Zone combined 

but not to exceed the following limit in the 

aggregate during any policy year:

i) USD1,000,000 for CONTINGENT 

TIME ELEMENT EXTENDED, 

MISCELLANEOUS PROPERTY, 

OFF PREMISES DATA SERVICES 

PROPERTY DAMAGE, OFF 

PREMISES DATA SERVICES TIME 

ELEMENT, SERVICE 

INTERRUPTION PROPERTY 

DAMAGE and SERVICE 

INTERRUPTION TIME ELEMENT 

combined

b ) USD5,000,000 for property located in the

Pacific Northwest Seismic Zone 

combined but not to exceed the following 

limit in the aggregate during any policy

year:

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i) USD1,000,000 for CONTINGENT 

TIME ELEMENT EXTENDED, 

MISCELLANEOUS PROPERTY, 

OFF PREMISES DATA SERVICES 

PROPERTY DAMAGE, OFF 

PREMISES DATA SERVICES TIME 

ELEMENT, SERVICE 

INTERRUPTION PROPERTY 

DAMAGE and SERVICE 

INTERRUPTION TIME ELEMENT 

combined

c) USD25,000,000 for property located in 

California but not to exceed the following 

limit in the aggregate during any policy 

year:

i) USD10,000,000 for locations as 

described on the Schedule of SA 

Recycling, LLC Locations, Appendix 

B

ii) USD1,000,000 for CONTINGENT 

TIME ELEMENT EXTENDED, 

MISCELLANEOUS PROPERTY, 

OFF PREMISES DATA SERVICES 

PROPERTY DAMAGE, OFF 

PREMISES DATA SERVICES TIME 

ELEMENT, SERVICE 

INTERRUPTION PROPERTY 

DAMAGE and SERVICE 

INTERRUPTION TIME ELEMENT 

combined

d) USD15,000,000 for property located in 

high hazard zones for earth movement 

combined excluding California 

ERRORS AND OMISSIONS USD100,000,000

EXPEDITING COSTS and EXTRA 

EXPENSE combined

USD100,000,000

EXTENDED PERIOD OF LIABILITY 90 day period

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fine arts USD100,000,000 but not to exceed a USD10,000 

limit per item for irreplaceable fine arts not on 

a schedule on file with the Company

fines or penalties for breach of contract or for 

late or noncompletion of orders combined

USD100,000

flood USD100,000,000

GROSS PROFIT 12 month period

INGRESS/EGRESS 30 day period

INTERRUPTION BY COMMUNICABLE 

DISEASE

12 month period but not to exceed a 

USD1,000,000 limit in the aggregate during 

any policy year

The Company’s maximum limit of liability for 

COMMUNICABLE DISEASE RESPONSE and 

this coverage combined shall not exceed 

USD1,000,000 in the aggregate during any 

policy year regardless of the number of 

locations, coverages or occurrences involved.

LAND AND WATER CONTAMINANT 

CLEANUP, REMOVAL AND DISPOSAL

USD500,000 in the aggregate during any 

policy year

LOGISTICS EXTRA COST 180 day period but not to exceed 200% of the 

normal cost

MISCELLANEOUS PROPERTY As respects property at a location:

a) USD50,000,000 per location

As respects property not at a location:

a) USD50,000,000

NEIGHBOUR’S RECOURSE AND 

TENANT’S LIABILITY

USD10,000,000

OFF PREMISES DATA SERVICES 

PROPERTY DAMAGE and OFF PREMISES 

DATA SERVICES TIME ELEMENT 

combined

USD5,000,000 in the aggregate during any 

policy year

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radioactive contamination USD25,000,000 but not to exceed a 

USD5,000,000 limit for locations as described on 

the Schedule of SA Recycling, LLC Locations, 

Appendix B

SERVICE INTERRUPTION PROPERTY 

DAMAGE and SERVICE INTERRUPTION 

TIME ELEMENT combined

USD25,000,000

TERRORISM USD5,000,000 in the aggregate during any 

policy year but not to exceed the following 

limits in the aggregate during any policy year:

a) USD5,000,000 for AUTOMATIC 

COVERAGE, ERRORS AND 

OMISSIONS, MISCELLANEOUS 

PROPERTY and TEMPORARY 

REMOVAL OF PROPERTY combined 

b) USD5,000,000 for flood when caused by 

or resulting from terrorism

The limits for TERRORISM shall not include the 

actual cash value portion of fire damage caused 

by terrorism.

The limits for TERRORISM do not apply to the 

SUPPLEMENTAL UNITED STATES

CERTIFIED ACT OF TERRORISM 

ENDORSEMENT(S).

valuable papers and records USD100,000,000 but not to exceed a USD10,000 

limit per item for irreplaceable valuable papers 

and records not on a schedule on file with the 

Company

13. DEDUCTIBLES

Subject to the deductible general provisions stated below, in each case of loss covered by this 

Policy the following deductibles apply:

property located in Australia USD200,000 combined all coverages, per 

occurrence

property located in the United States of 

America or the Commonwealth of Puerto 

Rico

USD500,000 combined all coverages, per 

occurrence

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locations as described on the SRS Deductible 

Locations, Appendix C

USD150,000 combined all coverages, per 

occurrence

COMPUTER SYSTEMS NON PHYSICAL 

DAMAGE

USD250,000 per occurrence except

USD500,000 per occurrence for property 

located in the United States of America or the 

Commonwealth of Puerto Rico

DATA, PROGRAMS OR SOFTWARE USD250,000 per occurrence except 

USD500,000 per occurrence for property 

located in the United States of America or the 

Commonwealth of Puerto Rico as respects loss 

or damage caused by the malicious introduction 

of a machine code or instruction

earthquake 1) As respects property located in high 

hazard zones for earth movement:

Property Damage: 5% per location

Time Element: 5% per location

The above are subject to a minimum 

deductible of USD500,000 for Property 

Damage and Time Element combined, per 

location

2) As respects property located in the New 

Madrid Seismic Zone or in the Pacific 

Northwest Seismic Zone:

Property Damage: 3% per location

Time Element: 3% per location

The above are subject to a minimum 

deductible of USD500,000 for Property 

Damage and Time Element combined, per 

location

flood USD500,000 combined all coverages, per 

occurrence

LOGISTICS EXTRA COST USD250,000 per occurrence except

USD500,000 per occurrence for property 

located in the United States of America or the 

Commonwealth of Puerto Rico

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OFF PREMISES DATA SERVICES 

PROPERTY DAMAGE and OFF PREMISES 

DATA SERVICES TIME ELEMENT 

combined

USD250,000 per occurrence except 

USD500,000 per occurrence for property 

located in the United States of America or the 

Commonwealth of Puerto Rico

mobile equipment USD500,000 per occurrence except:

USD200,000 for each piece of mobile 

equipment, per occurrence for mobile equipment 

in Australia

wind As respects wind loss associated with or 

occurring in conjunction with a storm or weather 

disturbance identified by name by any 

meteorological authority, whether or not named 

prior to the loss:

Property Damage: 3% per location

Time Element: 3% per location

The above are subject to a minimum deductible 

of USD500,000 for Property Damage and Time 

Element combined, per location.

All Other Loss USD250,000 combined all coverages, per 

occurrence

Deductible General Provisions:

In each case of loss covered by this Policy, the Company will be liable only if the Insured sustains 

a loss, including any insured TIME ELEMENT loss, in a single occurrence greater than the 

applicable deductible specified above, and only for its share of that greater amount.

A. For SERVICE INTERRUPTION loss, when a deductible is not specifically stated as 

applying to SERVICE INTERRUPTION, the deductible applied to the SERVICE 

INTERRUPTION loss will be the deductible that would apply if the cause of the interruption 

happened at the insured location that sustains the interruption of the specified services.

B. For CONTINGENT TIME ELEMENT EXTENDED loss, when a deductible is not 

specifically stated as applying to CONTINGENT TIME ELEMENT EXTENDED, the 

deductible for CONTINGENT TIME ELEMENT EXTENDED loss will be determined as 

though the contingent time element location was an insured location under this Policy.

C. The stated earthquake deductible will be applied to earthquake loss. The stated flood

deductible will be applied to flood loss. The stated wind deductible will be applied to wind

loss. The provisions of item E below will also be applied to each.

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As respects Location Nos. 01, 53, 56, 57, 66, 76, 95, 104, AU03 and AU31 described on the 

Schedule of Locations and notwithstanding item E below, in the event of loss resulting from 

both flood and wind, such flood and wind loss shall be adjusted separately from each other 

with each being subject to its respective deductible.

D. When this Policy insures more than one location, the deductible will apply against the total 

loss covered by this Policy in an occurrence except that a deductible that applies on a per 

location basis, if specified, will apply separately to each location where the physical damage 

happened regardless of the number of locations involved in the occurrence.

E. Unless stated otherwise, if two or more deductibles apply to an occurrence, the total to be 

deducted will not exceed the largest deductible applicable. For the purposes of this 

provision, when a separate Property Damage and a separate Time Element deductible apply, 

the sum of the two deductibles will be considered a single deductible. If two or more 

deductibles apply on a per location basis in an occurrence, the largest deductible applying 

to each location will be applied separately to each such location.

F. When a % deductible is stated above, whether separately or combined, the deductible is 

calculated as follows:

Property Damage – % of the value, per the Valuation clause(s) of the PROPERTY 

DAMAGE section, of the property insured at the location where the physical damage 

happened.

Time Element – % of the full Time Element values that would have been earned in the 12 

month period following the occurrence by use of the facilities at the location where the 

physical damage happened, plus that proportion of the full Time Element values at all other 

locations where TIME ELEMENT loss ensues that was directly affected by use of such 

facilities and that would have been earned in the 12 month period following the occurrence.

G. For insured physical loss or damage:

1) to insured fire protection equipment; or

2) from water or other substance discharged from fire protection equipment of the type 

insured,

the applicable deductible applying to items 1 or 2 above only will be reduced by fifty percent 

(50%), per occurrence. However, this provision will not apply to loss or damage resulting 

from fire or earth movement regardless of whether claim is made for such fire or earth

movement.

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PROPERTY DAMAGE

1. INSURED PROPERTY

This Policy insures the following property, unless otherwise excluded elsewhere in this Policy, as 

described in the INSURANCE PROVIDED provision or within 1,000 feet/300 metres thereof, to 

the extent of the interest of the Insured in such property:

A. Real Property, including new buildings and additions under construction, in which the 

Insured has an insurable interest.

B. Personal Property:

1) owned by the Insured.

2) consisting of the Insured’s interest as a tenant in improvements and betterments. In the 

event of physical loss or damage, the Company agrees to accept and consider the 

Insured as sole and unconditional owner of improvements and betterments, 

notwithstanding any contract or lease to the contrary.

3) of officers and employees of the Insured.

4) of others in the Insured’s custody to the extent the Insured is under obligation to keep 

insured for physical loss or damage insured by this Policy.

5) of others in the Insured’s custody to the extent of the Insured’s legal liability for insured 

physical loss or damage to Personal Property. The Company will defend that portion of 

any suit against the Insured that alleges such liability and seeks damages for such 

insured physical loss or damage. The Company may, without prejudice, investigate, 

negotiate and settle any claim or suit as the Company deems expedient.

This Policy also insures the interest of contractors and subcontractors in insured property during 

construction at an insured location or within 1,000 feet/300 metres thereof, to the extent of the 

Insured’s legal liability for insured physical loss or damage to such property. Such interest of 

contractors and subcontractors is limited to the property for which they have been hired to perform 

work and such interest will not extend to any TIME ELEMENT coverage provided under this 

Policy.

2. EXCLUDED PROPERTY

The following exclusions apply unless otherwise stated in this Policy:

This Policy excludes:

A. currency, money, notes or securities.

B. precious metal in bullion form.

C. land and any substance in or on land. However, this exclusion does not apply to:

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1) landscape gardening.

2) car parks, parking lots, pavement, roadways, railways, transformer enclosures or 

walkways.

3) fill beneath car parks, parking lots, pavement, roadways, railways, transformer 

enclosures, walkways, or buildings and structures.

D. water. However, this exclusion does not apply to:

1) water that is contained within any enclosed tank, piping system or any other processing 

equipment.

E. animals, standing timber or growing crops.

F. watercraft or aircraft, except when unfueled and manufactured by the Insured.

G. vehicles of officers or employees of the Insured or vehicles otherwise insured for physical 

loss or damage.

H. underground mines or mine shafts or any property within such mine or shaft.

I. dams or dikes.

J. property in transit, except as otherwise provided by this Policy.

K. property sold by the Insured under conditional sale, trust agreement, installment plan or 

other deferred payment plan after delivery to customers, except as provided by the 

INSTALLMENT OR DEFERRED PAYMENTS coverage of this Policy.

L. electronic data, programs or software, except when they are stock in process, finished goods 

manufactured by the Insured, raw materials, supplies or other merchandise not manufactured 

by the Insured, or as otherwise provided by the DATA, PROGRAMS OR SOFTWARE 

coverage of this Policy.

M. stock in process, finished goods manufactured by the Insured, raw materials, supplies or

other merchandise not manufactured by the Insured.

N. mobile equipment licensed for highway use or mobile equipment otherwise insured for 

physical loss or damage.

O. mobile equipment located in the European Union and the European Economic Area as 

constituted on 01 July 2013 and the United Kingdom.

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3. EXCLUSIONS

In addition to the exclusions elsewhere in this Policy, the following exclusions apply unless 

otherwise stated:

A. This Policy excludes:

1) indirect or remote loss or damage.

2) interruption of business, except to the extent provided by this Policy.

3) loss of market or loss of use.

4) loss or damage or deterioration arising from any delay.

5) mysterious disappearance, loss or shortage disclosed on taking inventory, or any 

unexplained loss.

6) loss from enforcement of any law or ordinance:

a) regulating the construction, repair, replacement, use or removal, including debris 

removal, of any property; or

b) requiring the demolition of any property, including the cost in removing its debris;

except as provided by the DECONTAMINATION COSTS and LAW AND 

ORDINANCE coverages of this Policy.

7) loss resulting from the voluntary parting with title or possession of property if induced 

by any fraudulent act or by false pretence.

B. This Policy excludes loss or damage directly or indirectly caused by or resulting from any of 

the following regardless of any other cause or event, whether or not insured under this 

Policy, contributing concurrently or in any other sequence to the loss:

1) nuclear reaction or nuclear radiation or radioactive contamination. However:

a) if physical damage by fire or sprinkler leakage results, then only that resulting 

damage is insured; but not including any loss or damage due to nuclear reaction,

radiation or radioactive contamination.

b) this Policy does insure physical damage directly caused by sudden and accidental 

radioactive contamination, including resultant radiation damage, from material used 

or stored or from processes conducted on the insured location, provided that on the 

date of loss, there is neither a nuclear reactor nor any new or used nuclear fuel on 

the insured location. This coverage does not apply to any act, loss or damage 

excluded in item B2f of this EXCLUSIONS clause.

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This exclusion B1 and the exceptions in B1a and B1b do not apply to any act, loss or 

damage which also comes within the terms of exclusion B2b of this EXCLUSIONS 

clause.

2) a) hostile or warlike action in time of peace or war, including action in hindering, 

combating or defending against an actual, impending or expected attack by any:

(i) government or sovereign power (de jure or de facto);

(ii) military, naval or air force; or

(iii) agent or authority of any party specified in i or ii above.

b) discharge, explosion or use of any nuclear device, weapon or material employing or 

involving nuclear fission, fusion or radioactive force, whether in time of peace or 

war and regardless of who commits the act.

c) insurrection, rebellion, revolution, civil war, usurped power, or action taken by 

governmental authority in hindering, combating or defending against such an event.

d) seizure or destruction under quarantine or custom regulation, or confiscation by 

order of any governmental or public authority.

e) risks of contraband, or illegal transportation or trade.

f) terrorism, including action taken to prevent, defend against, respond to or retaliate 

against terrorism or suspected terrorism, except to the extent provided in the 

TERRORISM coverage of the Policy. However, if direct loss or damage by fire 

results from any of these acts (unless committed by or on behalf of the Insured), 

then this Policy covers only to the extent of the actual cash value of the resulting 

direct loss or damage by fire to property insured. This coverage exception for such 

resulting fire loss or damage does not apply to:

(i) direct loss or damage by fire which results from any other applicable exclusion 

in the Policy, including the discharge, explosion or use of any nuclear device, 

weapon or material employing or involving nuclear fission, fusion or radioactive 

force, whether in time of peace or war and regardless of who commits the act.

(ii) any coverage provided in the TIME ELEMENT section of this Policy or to any 

other coverages provided in this Policy.

Any act which satisfies the definition of terrorism shall not be considered to be 

vandalism, malicious mischief, riot, civil commotion, or any other risk of physical 

loss or damage covered elsewhere in this Policy.

If any act which satisfies the definition of terrorism also comes within the terms of 

item B2a of this EXCLUSIONS clause then item B2a applies in place of this item 

B2f exclusion.

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If any act which satisfies the definition of terrorism also comes within the terms of 

item B2b of this EXCLUSIONS clause then item B2b applies in place of this item 

B2f exclusion.

If any act which satisfies the definition of terrorism also comes within the terms of 

item B2c of this EXCLUSIONS clause then item B2c applies in place of this item 

B2f exclusion.

If any act excluded herein involves nuclear reaction, nuclear radiation or radioactive 

contamination, this item B2f exclusion applies in place of item B1 of this 

EXCLUSIONS clause.

3) any dishonest act, including but not limited to theft, committed alone or in collusion 

with others, at any time:

a) by an Insured or any proprietor, partner, director, trustee, officer, or employee of an 

Insured; or

b) by any proprietor, partner, director, trustee, or officer of any business or entity (other 

than a common carrier) engaged by an Insured to do anything in connection with 

property insured under this Policy.

This Policy does insure acts of direct insured physical damage intentionally caused by 

an employee of an Insured or any individual specified in b above, and done without the 

knowledge of the Insured. This coverage does not apply to any act excluded in B2f of 

this EXCLUSIONS clause. In no event does this Policy cover loss by theft by any 

individual specified in a or b above.

4) lack of the following services:

a) incoming electricity, fuel, water, gas, steam or refrigerant;

b) outgoing sewerage;

c) incoming or outgoing voice, data or video,

all when caused by an event off the insured location, except as provided in the 

SERVICE INTERRUPTION and OFF PREMISES DATA SERVICES coverages of this 

Policy. But, if the lack of such a service directly causes insured physical damage on the

insured location, then only that resulting damage is insured.

C. This Policy excludes the following, but, if physical damage not excluded by this Policy 

results, then only that resulting damage is insured:

1) faulty workmanship, material, construction or design from any cause.

2) loss or damage to stock or material attributable to manufacturing or processing 

operations while such stock or material is being processed, manufactured, tested, or 

otherwise worked on.

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3) deterioration, depletion, rust, corrosion or erosion, wear and tear, inherent vice or latent 

defect.

4) settling, cracking, shrinking, bulging, or expansion of:

a) foundations (including any pedestal, pad, platform or other property supporting 

machinery).

b) floors.

c) pavements.

d) walls.

e) ceilings.

f) roofs.

5) a) changes of temperature damage (except to machinery or equipment); or

b) changes in relative humidity damage,

all whether atmospheric or not.

6) insect, animal or vermin damage.

7) loss or damage to the interior portion of buildings under construction from rain, sleet or 

snow, whether or not driven by wind, when the installation of the roof, walls or windows 

of such buildings has not been completed.

8) overloading or the weight of a load exceeding the manufacturer’s designated capacity of 

any mobile equipment.

9) collision of mobile equipment.

D. This Policy excludes the following unless directly resulting from other physical damage not 

excluded by this Policy:

1) contamination, and any cost due to contamination including the inability to use or 

occupy property or any cost of making property safe or suitable for use or occupancy. If 

contamination due only to the actual not suspected presence of contaminant(s) directly 

results from other physical damage not excluded by this Policy, then only physical 

damage caused by such contamination may be insured. This exclusion D1 does not 

apply to radioactive contamination which is excluded elsewhere in this Policy.

2) shrinkage.

3) changes in color, flavor, texture or finish.

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4. APPLICATION OF POLICY TO DATE OR TIME RECOGNITION

With respect to situations caused by any date or time recognition problem by electronic data 

processing equipment or media (such as the so-called Year 2000 problem), this Policy applies as 

follows.

A. This Policy does not pay for remediation, change, correction, repair or assessment of any 

date or time recognition problem, including the Year 2000 problem, in any electronic data 

processing equipment or media, whether preventative or remedial, and whether before or 

after a loss, including temporary protection and preservation of property. This Policy does 

not pay for any TIME ELEMENT loss resulting from the foregoing remediation, change, 

correction, repair or assessment.

B. Failure of electronic data processing equipment or media to correctly recognize, interpret, 

calculate, compare, differentiate, sequence, access or process data involving one or more 

dates or times, including the Year 2000, is not insured physical loss or damage. This Policy 

does not pay for any such incident or for any TIME ELEMENT loss resulting from any such 

incident.

Subject to all of its terms and conditions, this Policy does pay for physical loss or damage not 

excluded by this Policy that results from a failure of electronic data processing equipment or 

media to correctly recognize, interpret, calculate, compare, differentiate, sequence, access or 

process data involving one or more dates or times, including the Year 2000. Such covered 

resulting physical loss or damage does not include any loss, cost or expense described in A or B 

above. If such covered resulting physical loss or damage happens, and if this Policy provides 

TIME ELEMENT coverage, then, subject to all of its terms and conditions, this Policy also covers 

any insured Time Element loss directly resulting therefrom.

5. VALUATION

Adjustment of the physical loss amount under this Policy will be computed as of the date of loss at 

the place of the loss, and for no more than the interest of the Insured.

Unless stated otherwise in an Additional Coverage, adjustment of physical loss to property will be 

subject to the following:

A. On stock in process, the value of raw materials and labor expended plus the proper 

proportion of overhead charges.

B. On finished goods manufactured by the Insured, the regular cash selling price, less all 

discounts and charges to which the finished goods would have been subject had no loss 

happened.

C. On raw materials, supplies or other merchandise not manufactured by the Insured:

1) if repaired or replaced, the actual expenditure incurred in repairing or replacing the 

damaged or destroyed property; or

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2) if not repaired or replaced, the actual cash value.

D. On exposed films, records, manuscripts and drawings that are not valuable papers and 

records, the value blank plus the cost of copying information from back-up or from originals 

of a previous generation. These costs will not include research, engineering or any costs of 

restoring or recreating lost information.

E. On property that is damaged by fire and such fire is the result of terrorism, the actual cash 

value of the fire damage loss. Any remaining fire damage loss shall be adjusted according 

to the terms and conditions of the Valuation clause(s) in this section of the Policy and shall 

be subject to the limit(s) of liability for TERRORISM, and if stated the limit of liability for 

SUPPLEMENTAL UNITED STATES CERTIFIED ACT OF TERRORISM 

ENDORSEMENT(S), as shown in the LIMITS OF LIABILITY clause in the 

DECLARATIONS section.

F. On all other property, the lesser of the following:

1) The cost to repair.

2) The cost to rebuild or replace on the same site with new materials of like size, kind and 

quality.

3) The cost in rebuilding, repairing or replacing on the same or another site, but not to 

exceed the size and operating capacity that existed on the date of loss.

4) The selling price of real property or machinery and equipment, other than stock, offered 

for sale on the date of loss.

5) The cost to replace unrepairable electrical or mechanical equipment, including computer 

equipment, with equipment that is the most functionally equivalent to that damaged or

destroyed, even if such equipment has technological advantages and/or represents an 

improvement in function and/or forms part of a program of system enhancement.

6) The increased cost of demolition, if any, directly resulting from insured loss, if such 

property is scheduled for demolition.

7) The unamortized value of improvements and betterments, if such property is not 

repaired or replaced at the Insured’s expense.

8) The actual cash value if such property is:

a) useless to the Insured; or

b) not repaired, replaced or rebuilt on the same or another site within two years from 

the date of loss, unless such time is extended by the Company.

The Insured may elect not to repair or replace the insured real or personal property lost, 

damaged or destroyed. Loss settlement may be elected on the lesser of repair or replacement 

cost basis if the proceeds of such loss settlement are expended on other capital expenditures 

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related to the Insured’s operations within two years from the date of loss. As a condition of

collecting under this item, such expenditure must be unplanned as of the date of loss and be 

made at an insured location under this Policy. This item does not extend to LAW AND 

ORDINANCE.

6. ADDITIONAL COVERAGES

This Policy includes the following Additional Coverages for insured physical loss or damage.

These Additional Coverages:

1) are subject to the applicable limit of liability;

2) will not increase the Policy limit of liability; and

3) are subject to the Policy provisions, including applicable exclusions and deductibles,

all as shown in this section and elsewhere in this Policy.

CYBER ADDITIONAL COVERAGES

A. DATA, PROGRAMS OR SOFTWARE

This Policy covers insured physical loss or damage to electronic data, programs or 

software, including physical loss or damage caused by the malicious introduction of a 

machine code or instruction.

For the purposes of this Additional Coverage, insured data, programs or software can be 

anywhere worldwide, including while in transit, except in Cuba, Iran, North Korea, Sudan,

Syria or Crimea Region of Ukraine.

With respect to destruction, distortion or corruption caused by the malicious introduction of 

machine code or instruction, this Additional Coverage will apply when the Period of 

Liability is in excess of 48 hours.

This Additional Coverage also covers:

1) the cost of the following reasonable and necessary actions taken by the Insured provided 

such actions are taken due to actual insured physical loss or damage to electronic data, 

programs or software:

a) actions to temporarily protect and preserve insured electronic data, programs or 

software.

b) actions taken for the temporary repair of insured physical loss or damage to 

electronic data, programs or software.

c) actions taken to expedite the permanent repair or replacement of such damaged 

property.

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2) the reasonable and necessary costs incurred by the Insured to temporarily protect or 

preserve insured electronic data, programs or software against immediately impending 

insured physical loss or damage to electronic data, programs or software. In the 

event that there is no physical loss or damage, the costs covered under this item will be 

subject to the deductible that would have applied had there been such physical loss or 

damage.

Costs recoverable under this Additional Coverage are excluded from coverage elsewhere in 

this Policy.

This Additional Coverage excludes loss or damage to data, programs or software when they 

are stock in process, finished goods manufactured by the Insured, raw materials, supplies or 

other merchandise not manufactured by the Insured.

DATA, PROGRAMS OR SOFTWARE Exclusions: As respects DATA, PROGRAMS OR 

SOFTWARE, the following applies:

1) the exclusions in the EXCLUSIONS clause of this section do not apply except for A1, 

A2, A6, B1, B2, B3a and B4.

2) the following additional exclusions apply:

This Policy excludes the following, but, if physical damage not excluded by this Policy 

results, then only that resulting damage is insured:

a) errors or omissions in processing or copying.

b) loss or damage to data, programs or software from errors or omissions in 

programming or machine instructions.

c) deterioration, inherent vice, vermin or wear and tear.

DATA, PROGRAMS OR SOFTWARE Valuation: On property covered under this 

Additional Coverage the loss amount will not exceed:

1) the cost to repair, replace or restore data, programs or software including the costs to 

recreate, research and engineer;

2) if not repaired, replaced or restored within two years from the date of loss, the blank 

value of the media.

B. OFF PREMISES DATA SERVICES PROPERTY DAMAGE

This Policy covers insured physical loss or damage to insured property at an insured

location when such physical loss or damage results from the interruption of off-premises 

data processing or data transmission services by reason of any accidental event at the 

facilities of the provider of such services that immediately prevents in whole or in part the 

delivery of such provided services.

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For the purposes of this Additional Coverage:

1) facilities of the provider of off-premises data processing or data transmission 

services can be located worldwide except in Cuba, Iran, North Korea, Sudan, Syria or 

Crimea Region of Ukraine, and

2) an accidental event to satellites will be considered an accidental event at the facilities of 

the provider.

This Additional Coverage will apply when the period of interruption of off-premises data 

processing or data transmission services as described below is in excess of 24 hours.

The period of interruption of off-premises data processing or data transmission services

is the period starting with the time when an interruption of provided services happens; and 

ending when with due diligence and dispatch the service could be wholly restored.

Additional General Provisions:

1) The Insured will immediately notify the company providing off-premises data 

processing or data transmission services of any interruption of such services.

2) The Company will not be liable if the interruption of such services is caused directly or 

indirectly by the failure of the Insured to comply with the terms and conditions of any 

contracts the Insured has entered into for such specified services.

OFF PREMISES DATA SERVICES PROPERTY DAMAGE Exclusions: As respects OFF 

PREMISES DATA SERVICES PROPERTY DAMAGE, the following applies:

1) Items B4 and C5 of the EXCLUSIONS clause in this section do not apply except for B4 

with respect to:

a) incoming electricity, fuel, water, gas, steam or refrigerant; and

b) outgoing sewerage.

2) The following additional exclusion applies:

This Policy excludes loss or damage directly or indirectly caused by or resulting from 

the following regardless of any other cause or event, whether or not insured under this 

Policy, contributing concurrently or in any other sequence to the loss:

a) terrorism.

OTHER ADDITIONAL COVERAGES

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A. ACCIDENTAL INTERRUPTION OF SERVICES

This Policy covers physical damage resulting from changes in temperature or relative 

humidity to insured property at an insured location when such changes in temperature or 

relative humidity result from the interruption of services consisting of electricity, gas, fuel, 

steam, water or refrigeration by reason of any accidental event, other than insured physical 

loss or damage, at the insured location.

This Additional Coverage will apply when the period of service interruption as described 

below is in excess of 24 hours.

The period of service interruption is the period starting with the time when an interruption of 

specified services happens; and ending when with due diligence and dispatch the service 

could be wholly restored.

B. ACCOUNTS RECEIVABLE

This Policy covers the following directly resulting from insured physical loss or damage to 

accounts receivable records while anywhere within this Policy’s TERRITORY, including 

while in transit:

1) any shortage in the collection of accounts receivable.

2) the interest charges on any loan to offset such impaired collection pending repayment of 

such uncollectible sum. Unearned interest and service charges on deferred payment 

accounts and normal credit losses on bad debts will be deducted in determining the 

amount recoverable.

3) the reasonable and necessary cost incurred for material and time required to re-establish 

or reconstruct accounts receivable records excluding any costs covered by any other 

insurance.

4) any other necessary and reasonable costs incurred to reduce the loss, to the extent the 

losses are reduced.

Accounts receivable records will include accounts receivable records stored as electronic 

data.

In the event of loss, the Insured will:

1) use all reasonable efforts, including legal action, if necessary, to effect collection of 

outstanding accounts receivable.

2) reduce loss by use of any suitable property or service:

a) owned or controlled by the Insured; or

b) obtainable from other sources.

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3) reconstruct, if possible, accounts receivable records so that no shortage is sustained.

The settlement of loss will be made within 90 days from the date of physical loss or damage. 

All amounts recovered by the Insured on outstanding accounts receivable on the date of loss 

will belong and be paid to the Company up to the amount of loss paid by the Company. All 

recoveries exceeding the amount paid will belong to the Insured.

ACCOUNTS RECEIVABLE Exclusions: As respects ACCOUNTS RECEIVABLE, the 

following additional exclusions apply:

This Policy does not insure against shortage resulting from:

1) bookkeeping, accounting or billing errors or omissions; or

2) a) alteration, falsification, manipulation; or

b) concealment, destruction or disposal,

of accounts receivable records committed to conceal the wrongful giving, taking, 

obtaining or withholding of money, securities or other property; but only to the extent of 

such wrongful giving, taking, obtaining or withholding.

C. AUTOMATIC COVERAGE

This Policy covers insured physical loss or damage to insured property at any location

purchased, leased or rented by the Insured after the inception date of this Policy.

This Additional Coverage applies:

1) from the date of purchase, lease or rental,

2) until the first of the following:

a) the location is bound by the Company.

b) agreement is reached that the location will not be insured under this Policy.

c) the time limit shown in the LIMITS OF LIABILITY clause in the 

DECLARATIONS section has been reached. The time limit begins on the date of 

purchase, lease or rental.

D. BRANDS AND LABELS

If branded or labeled insured property is physically damaged and the Company elects to take 

all or any part of that property, the Insured may at the Company’s expense:

1) stamp “salvage” on the property or its containers; or

2) remove or obliterate the brands or labels,

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if doing so will not damage the property.

The Insured must relabel such property or its containers to be in compliance with any 

applicable law.

E. CLAIMS PREPARATION COSTS

This Policy covers the actual costs incurred by the Insured:

1) of reasonable fees payable to the Insured’s: accountants, architects, auditors, engineers, 

or other professionals; and

2) the cost of using the Insured’s employees,

for producing and certifying any particulars or details contained in the Insured’s books or 

documents, or such other proofs, information or evidence required by the Company resulting 

from insured loss payable under this Policy for which the Company has accepted liability.

This Additional Coverage will not cover the fees and costs of:

1) attorneys, public adjusters, and loss appraisers, all including any of their subsidiary, 

related or associated entities either partially or wholly owned by them or retained by 

them for the purpose of assisting them,

2) loss consultants who provide consultation on coverage or negotiate claims.

This Additional Coverage is subject to the deductible that applies to the loss.

F. COINSURANCE DEFICIENCY AND CURRENCY DEVALUATION

This Policy covers the deficiency in the amount of loss payable under the Insured’s locally 

written policy(ies), if any, and its renewals, issued by the Company or its representative 

company(ies), solely as the result of:

1) the application of a coinsurance (or average) clause; or

2) official government devaluation of the currency in which the local policy is written,

for physical loss or damage of the type insured under such local policy(ies) to property of the 

type insured under this Policy.

The Insured agrees to adjust the Policy values as a result of such devaluation within 30 days 

after the date of the currency’s devaluation.

There is no liability under this Additional Coverage if the Insured is unable to recover any 

loss under such local policy(ies) due to intentional underinsurance by the Insured.

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G. COMMUNICABLE DISEASE RESPONSE

If a location owned, leased or rented by the Insured has the actual not suspected presence of 

communicable disease and access to such location is limited, restricted or prohibited by:

1) an order of an authorized governmental agency regulating the actual not suspected 

presence of communicable disease; or

2) a decision of an Officer of the Insured as a result of the actual not suspected presence of 

communicable disease,

this Policy covers the reasonable and necessary costs incurred by the Insured at such 

location with the actual not suspected presence of communicable disease for the:

1) cleanup, removal and disposal of the actual not suspected presence of communicable 

diseases from insured property; and

2) actual costs of fees payable to public relations services or actual costs of using the 

Insured’s employees for reputation management resulting from the actual not suspected 

presence of communicable diseases on insured property.

This Additional Coverage will apply when access to such location is limited, restricted or 

prohibited in excess of 48 hours.

This Additional Coverage does not cover any costs incurred due to any law or ordinance 

with which the Insured was legally obligated to comply prior to the actual not suspected 

presence of communicable disease.

COMMUNICABLE DISEASE RESPONSE Exclusions: As respects COMMUNICABLE 

DISEASE RESPONSE, the following additional exclusion applies:

This Policy excludes loss or damage directly or indirectly caused by or resulting from the 

following regardless of any other cause or event, whether or not insured under this Policy, 

contributing concurrently or in any other sequence to the loss:

1) terrorism.

H. CONSEQUENTIAL REDUCTION IN VALUE

This Policy covers the reduction in value of insured merchandise that is a part of pairs, sets, 

or components, directly resulting from insured physical loss or damage to other insured parts

of pairs, sets or components of such merchandise. If settlement is based on a constructive 

total loss, the Insured will surrender the undamaged parts of such merchandise to the 

Company.

I. DEBRIS REMOVAL

This Policy covers the reasonable and necessary costs incurred to remove debris from an 

insured location that remains as a direct result of insured physical loss or damage.

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This Additional Coverage does not cover the costs of removal of:

1) contaminated uninsured property; or

2) the contaminant in or on uninsured property,

whether or not the contamination results from insured physical loss or damage. This 

Additional Coverage covers the costs of removal of contaminated insured property or the 

contaminant in or on insured property only if the contamination, due to the actual not 

suspected presence of contaminant(s), of the debris resulted directly from other physical 

damage not excluded by the Policy.

J. DECONTAMINATION COSTS

If insured property is contaminated as a direct result of insured physical damage and there is 

in force at the time of the loss any law or ordinance regulating contamination due to the 

actual not suspected presence of contaminant(s), then this Policy covers, as a direct result of 

enforcement of such law or ordinance, the increased cost of decontamination and/or removal 

of such contaminated insured property in a manner to satisfy such law or ordinance. This 

Additional Coverage applies only to that part of insured property so contaminated due to the 

actual not suspected presence of contaminant(s) as a direct result of insured physical 

damage.

The Company is not liable for the costs required for removing contaminated uninsured 

property or the contaminant therein or thereon, whether or not the contamination results 

from an insured event.

K. ERRORS AND OMISSIONS

If physical loss or damage is not payable under this Policy solely due to an error or 

unintentional omission:

1) in the description of where insured property is physically located;

2) to include any location:

a) owned, leased or rented by the Insured on the effective date of this Policy; or

b) purchased, leased or rented by the Insured during the term of this Policy; or

3) that results in cancellation of the property insured under this Policy;

this Policy covers such physical loss or damage, to the extent it would have provided 

coverage had such error or unintentional omission not been made.

It is a condition of this Additional Coverage that any error or unintentional omission be 

reported by the Insured to the Company when discovered and corrected.

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L. EXPEDITING COSTS

This Policy covers the reasonable and necessary costs incurred:

1) for the temporary repair of insured physical damage to insured property;

2) for the temporary replacement of insured equipment suffering insured physical damage; 

and

3) to expedite the permanent repair or replacement of such damaged property.

This Additional Coverage does not cover costs recoverable elsewhere in this Policy, 

including the cost of permanent repair or replacement of damaged property.

M. FINE ARTS AND VALUABLE PAPERS AND RECORDS

This Policy covers insured physical loss or damage to fine arts and valuable papers and 

records while anywhere within this Policy’s TERRITORY, including while in transit.

FINE ARTS AND VALUABLE PAPERS AND RECORDS Exclusions: As respects FINE 

ARTS AND VALUABLE PAPERS AND RECORDS, the following applies:

1) the exclusions in the EXCLUSIONS clause of this section do not apply except for A1, 

A2, A6, A7, B1, B2, B3a and B4.

2) the following additional exclusions apply:

This Policy excludes:

a) currency, money, securities.

b) errors or omissions in processing or copying of valuable papers and records, but, 

if physical damage not excluded by this Policy results, then only that resulting 

damage is insured.

c) deterioration, inherent vice, or wear and tear, but, if physical damage not excluded 

by this Policy results, then only that resulting damage is insured.

d) fungus, mold or mildew unless directly resulting from other physical damage not 

excluded by this Policy.

e) loss or damage to fine arts from any repairing, restoration or retouching process.

FINE ARTS AND VALUABLE PAPERS AND RECORDS Valuation: On property covered 

under this Additional Coverage the loss amount will not exceed the lesser of the following:

1) the cost to repair or restore such property to the physical condition that existed on the 

date of loss.

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2) the cost to replace.

3) the value, if any, designated for the item on the schedule on file with the Company.

If a fine arts article is part of a pair or set, and a physically damaged article cannot be 

replaced, or repaired or restored to the condition that existed immediately prior to the loss, 

the Company will be liable for the lesser of the full value of such pair or set or the amount 

designated on the schedule. The Insured agrees to surrender the pair or set to the Company.

N. INSTALLMENT OR DEFERRED PAYMENTS

This Policy covers insured physical loss or damage to personal property of the type insured 

sold by the Insured under a conditional sale or trust agreement or any installment or deferred 

payment plan and after such property has been delivered to the buyer. Coverage is limited to 

the unpaid balance for such property.

In the event of loss to property sold under deferred payment plans, the Insured will use all 

reasonable efforts, including legal action, if necessary, to effect collection of outstanding 

amounts due or to regain possession of the property.

There is no liability under this Policy for loss:

1) pertaining to products recalled including, but not limited to, the costs to recall, test or to 

advertise such recall by the Insured.

2) from theft or conversion by the buyer of the property after the buyer has taken 

possession of such property.

3) to the extent the buyer continues payments.

4) not within the TERRITORY of this Policy.

INSTALLMENT OR DEFERRED PAYMENTS Valuation: On property covered under this 

Additional Coverage the loss amount will not exceed the lesser of the following:

1) total amount of unpaid installments less finance charges.

2) actual cash value of the property at the time of loss.

3) cost to repair or replace with material of like size, kind and quality.

O. LAND AND WATER CONTAMINANT CLEANUP, REMOVAL AND 

DISPOSAL

This Policy covers the reasonable and necessary cost for the cleanup, removal and disposal 

of the actual not suspected presence of contaminant(s) from uninsured property consisting 

of land, water or any other substance in or on land at the insured location if the release, 

discharge or dispersal of such contaminant(s) is a direct result of insured physical loss or 

damage to insured property.

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This Policy does not cover the cost to cleanup, remove and dispose of contamination from 

such property:

1) at any location insured for Personal Property only.

2) at any property insured under AUTOMATIC COVERAGE, ERRORS AND 

OMISSIONS or MISCELLANEOUS PROPERTY coverage provided by this Policy.

3) when the Insured fails to give written notice of loss to the Company within 180 days 

after inception of the loss.

P. LAW AND ORDINANCE

This Policy covers the costs as described herein resulting from the Insured’s obligation to 

comply with a law or ordinance, provided that:

1) such law or ordinance is enforced as a direct result of insured physical loss or damage at 

an insured location;

2) such law or ordinance is in force at the time of such loss or damage; and

3) such location was not required to be in compliance with such law or ordinance prior to the 

happening of the insured physical loss or damage.

Coverage A:

The reasonable and necessary costs incurred by the Insured to comply with the enforcement 

of the minimum requirements of any law or ordinance that regulates the demolition, 

construction, repair, replacement or use of buildings, structures, machinery or equipment.

As respects insured property, this Coverage A covers the reasonable and necessary costs to:

1) demolish any physically damaged and undamaged portions of the insured buildings, 

structures, machinery or equipment.

2) repair or rebuild the physically damaged and undamaged portions, whether or not 

demolition is required, of such insured buildings, structures, machinery or equipment.

The Company’s maximum liability for this Coverage A at each insured location in any 

occurrence will not exceed the actual costs incurred in demolishing the physically damaged 

and undamaged portions of the insured property plus the lesser of:

1) the reasonable and necessary cost, excluding the cost of land, to rebuild on another site; 

or

2) the cost to rebuild on the same site.

Coverage B:

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The reasonable estimated cost to repair, replace or rebuild insured property consisting of 

buildings, structures, machinery or equipment that the Insured is legally prohibited from 

repairing, replacing or rebuilding to the same height, floor area, number of units, configuration, 

occupancy or operating capacity, because of the enforcement of any law or ordinance that

regulates the construction, repair, replacement or use of buildings, structures, machinery or 

equipment.

LAW AND ORDINANCE Coverage B Valuation: On property covered under this Coverage 

B that cannot legally be repaired or replaced, the loss amount will be the difference between:

1) the actual cash value; and

2) the cost that would have been incurred to repair, replace or rebuild such lost or damaged 

property had such law or ordinance not been enforced at the time of loss.

LAW AND ORDINANCE Exclusions: As respects LAW AND ORDINANCE, the 

following additional exclusions apply:

This Policy does not cover:

1) any cost incurred as a direct or indirect result of enforcement of any law or ordinance 

regulating any form of contamination.

2) any machinery or equipment manufactured by or for the Insured, unless used by the 

Insured in its operation at the location suffering the physical loss or damage.

Q. LOSS PAYMENT INCREASED TAX LIABILITY

This Policy covers the increase in tax liability as described herein incurred by the Insured.

Coverage A:

The increase in tax liability from an insured loss at an insured location if the tax treatment 

of:

1) the profit portion of a loss payment under this Policy involving finished stock 

manufactured by the Insured; and/or

2) the profit portion of a TIME ELEMENT loss payment under this Policy;

is greater than the tax treatment of profits that would have been incurred had no loss 

happened.

Coverage B:

If loss payment under this Policy cannot be made in the country where the loss happened, 

such loss is to be paid in the currency of this Policy in a country designated by the Insured

where such payment is legally permissible. The Insured will cooperate with the Company in 

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making every reasonable effort to pay the loss or portion of it in the country in which the 

loss happened.

The Company will pay the net amount required to offset local taxes on income with due 

consideration to any tax relief/credit that accrues because of such payment using the Formula 

described below. Such Formula will not apply if the calculation of additional payment 

results in an amount less than zero.

The actual payment under this Additional Coverage will be adjusted and reduced by all 

appropriate tax credits and/or tax relief entitled and/or received by the Insured and/or the 

local entity where the loss happened provided that an income tax liability is incurred.

Any payment under this Additional Coverage will be made only after completion and 

acceptance by the Company of audited tax returns for the period in question for both the 

country where a payment under this Additional Coverage is made and the country where the 

loss happened.

Formula:

Additional Payment = [a (1 - c) / (1 - b)] - a

Where:

a = loss otherwise payable under this Policy except for operation of this coverage, after due 

consideration for any applicable deductible(s).

b = the net effective rate of the sum of: any taxation (a positive number) plus any tax 

relief/credit (a negative number) that accrues in the country where loss payments are 

received.

c = the net effective rate of the sum of: any taxation (a positive number) plus any tax 

relief/credit (a negative number) that accrues in the country where the loss happened.

The rates referred to will be the respective corporate income tax rates in effect on the date of 

the loss.

R. MACHINERY OR EQUIPMENT STARTUP OPTION

After insured machinery or equipment that has sustained insured physical loss or damage is 

repaired or replaced and such machinery or equipment is undergoing startup, the following 

applies:

If physical loss or damage of the type insured directly results to such machinery or 

equipment from such startup, the Insured shall have the option of claiming such resulting 

insured damage as part of the original event of physical loss or damage or as a separate 

occurrence.

This Additional Coverage applies only:

1) to the first startup event after the original repair or replacement; and

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2) when the first startup event happens during the term of this Policy or its renewal issued 

by the Company.

For the purposes of this Additional Coverage, startup means:

1) the introduction into machinery or equipment of feedstock or other materials for 

processing or handling;

2) the commencement of fuel or energy supply to machinery or equipment.

S. MISCELLANEOUS PROPERTY

This Policy covers insured physical loss or damage to:

1) insured property;

2) property of the type insured that is under contract to be used in a construction project at 

an insured location:

a) from the time such property is delivered to the Insured or their contractor (with 

respect to the property under construction) by the manufacturer or supplier;

b) while such property is located at a storage site; and

c) while such property is in transit from a storage site to another storage site or to a 

construction project at an insured location,

that does not include any such property owned or rented by the contractor;

while anywhere within this Policy’s TERRITORY, including while in transit.

This Additional Coverage excludes property covered elsewhere in this Policy.

MISCELLANEOUS PROPERTY Exclusions: As respects MISCELLANEOUS 

PROPERTY, the following additional exclusions apply:

1) This Policy excludes:

a) transmission and distribution systems not at a location.

b) property insured under import or export ocean marine insurance.

c) property shipped between continents.

d) airborne shipments unless by regularly scheduled passenger airlines or air freight 

carriers.

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e) property of others, including the Insured's legal liability for it, hauled on vehicles 

owned, leased or operated by the Insured when acting as a common or contract 

carrier.

T. NEIGHBOUR’S RECOURSE AND TENANT’S LIABILITY

As respects insured locations in France, the French Territories, Spain, Italy, Belgium, 

Greece, Portugal or Luxembourg:

This Policy covers the Insured’s liability:

1) as a tenant or occupant under the articles of any civil or commercial code toward the 

owner for direct physical damage of the type insured to real or personal property of the 

type insured of the owner of the premises.

2) under articles of any civil or commercial code toward neighbours, co-tenants and other 

third parties for direct physical damage of the type insured to real or personal property 

of the type insured of neighbours, co-tenants and other third parties.

3) as landlord under articles of any civil or commercial code for direct physical damage of 

the type insured to personal property of the type insured of tenants as a result of 

construction defects or lack of maintenance.

4) as tenant or occupant under the articles of any civil or commercial code for total or 

partial loss of use by the owner of the premises resulting from direct physical damage of 

the type insured.

U. OPERATIONAL TESTING

This Policy covers insured physical loss or damage to insured property during the period of 

operational testing.

This Additional Coverage excludes property, including stock or material, manufactured or 

processed by the Insured.

V. PROTECTION AND PRESERVATION OF PROPERTY

This Policy covers:

1) reasonable and necessary costs incurred for actions to temporarily protect or preserve 

insured property; provided such actions are necessary due to actual, or to prevent 

immediately impending, insured physical loss or damage to such insured property.

2) reasonable and necessary:

a) fire department firefighting charges imposed as a result of responding to a fire in, on 

or exposing the insured property.

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b) costs incurred of restoring and recharging fire protection systems following an 

insured loss.

c) costs incurred for the water used for fighting a fire in, on or exposing the insured 

property.

This Additional Coverage does not cover costs incurred for actions to temporarily protect or 

preserve insured property from actual, or to prevent immediately impending, physical loss or 

damage covered by TERRORISM coverage as provided in this section of the Policy.

This Additional Coverage is subject to the deductible provisions that would have applied had 

the physical loss or damage happened.

W. SERVICE INTERRUPTION PROPERTY DAMAGE

This Policy covers insured physical loss or damage to insured property at an insured

location when such physical loss or damage results from the interruption of incoming 

services consisting of electricity, gas, fuel, steam, water, refrigeration or from the lack of 

outgoing sewerage service by reason of any accidental event at the facilities of the supplier 

of such service located within this Policy’s TERRITORY, that immediately prevents in 

whole or in part the delivery of such usable service.

This Additional Coverage will apply when the period of service interruption as described 

below is in excess of 24 hours.

The period of service interruption is the period starting with the time when an interruption of 

specified services happens; and ending when with due diligence and dispatch the service 

could be wholly restored.

Additional General Provisions:

1) The Insured will immediately notify the suppliers of services of any interruption of such 

services.

2) The Company will not be liable if the interruption of such services is caused directly or 

indirectly by the failure of the Insured to comply with the terms and conditions of any 

contracts the Insured has for the supply of such specified services.

SERVICE INTERRUPTION PROPERTY DAMAGE Exclusions: As respects SERVICE 

INTERRUPTION PROPERTY DAMAGE, the following applies:

1) The exclusions in the EXCLUSIONS clause in this section do not apply except for:

a) A1, A2, A3, A6, B1, B2, and

b) B4 with respect to incoming or outgoing voice, data or video, and

c) D1 except with respect to fungus, mold or mildew.

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2) The following additional exclusion applies:

This Policy excludes loss or damage directly or indirectly caused by or resulting from 

the following regardless of any other cause or event, whether or not insured under this 

Policy, contributing concurrently or in any other sequence to the loss:

a) terrorism.

X. TEMPORARY REMOVAL OF PROPERTY

When insured property is removed from an insured location for the purpose of being 

repaired or serviced or in order to avoid threatened physical loss or damage of the type 

insured by this Policy, this Policy covers such property:

1) while at the premises to which such property has been moved; and

2) for physical loss or damage as provided at the insured location from which such 

property was removed.

This Additional Coverage does not apply to property:

1) insured, in whole or in part, elsewhere in this Policy.

2) insured, in whole or in part, by any other insurance policy.

3) removed for normal storage, processing or preparation for sale or delivery.

Y. TERRORISM

This Policy covers physical loss or damage to property as described in the INSURANCE 

PROVIDED provision caused by or resulting from terrorism.

Any act which satisfies the definition of terrorism shall not be considered to be vandalism, 

malicious mischief, riot, civil commotion, or any other risk of physical loss or damage 

covered elsewhere in this Policy.

Amounts recoverable under this Additional Coverage are excluded from coverage elsewhere 

in this Policy.

This Additional Coverage does not cover loss or damage which also comes within the terms 

of either item B2a or B2c of the EXCLUSIONS clause in this section of the Policy.

This Additional Coverage does not in any event cover loss or damage directly or indirectly 

caused by or resulting from any of the following, regardless of any other cause or event, 

whether or not insured under this Policy contributing concurrently or in any other sequence 

to the loss:

1) that involves the use, release or escape of nuclear materials, or that directly or indirectly 

results in nuclear reaction or radiation or radioactive contamination or that involves the 

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discharge, explosion or use of any nuclear device, weapon or material employing or 

involving nuclear fission, fusion, or radioactive force, whether in time of peace or war 

and regardless of who commits the act; or

2) that is carried out by means of the dispersal or application of pathogenic or poisonous 

biological or chemical materials; or

3) in which pathogenic or poisonous biological or chemical materials are released, and it 

appears that one purpose of the terrorism was to release such materials; or

4) that involves action taken to prevent, defend against, respond to or retaliate against 

terrorism or suspected terrorism.

Z. TRANSPORTATION

This Policy covers the following personal property, except as excluded by this Policy, while 

in transit within the TERRITORY of this Policy:

1) owned by the Insured.

2) shipped to customers under F.O.B., C & F or similar terms. The Insured’s contingent 

interest in such shipments is admitted.

3) of others in the actual or constructive custody of the Insured to the extent of the 

Insured’s interest or legal liability.

4) of others sold by the Insured, that the Insured has agreed prior to the loss to insure 

during course of delivery including:

a) when shipped by the Insured’s direct contract service provider or by the Insured’s 

direct contract manufacturer to the Insured or to the Insured’s customer.

b) when shipped by the Insured’s customer to the Insured or to the Insured’s contract 

service provider or to the Insured’s contract manufacturer.

Coverage Attachment and Duration:

1) This Additional Coverage covers from the time the property leaves the original point of 

shipment for transit. It then covers continuously in the due course of transit:

a) within the continent in which the shipment commences until the property arrives at 

the destination within such continent; or

b) between Europe and Asia, for land or air shipments only, from when the shipment 

commences until the property arrives at the destination.

2) However, coverage on export shipments not insured under ocean cargo policies ends 

when the property is loaded on board overseas vessels or aircraft. Coverage on import 

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shipments not insured under ocean cargo policies begins after discharge from overseas 

vessels or aircraft.

This Additional Coverage:

1) covers general average and salvage charges on shipments covered while waterborne.

2) insures physical loss or damage caused by or resulting from:

a) unintentional acceptance of fraudulent bills of lading, shipping or messenger 

receipts.

b) improper parties having gained possession of property through fraud or deceit.

Additional General Provisions:

1) This Additional Coverage will not inure directly or indirectly to the benefit of any 

carrier or bailee.

2) The Insured has permission, without prejudicing this insurance, to accept:

a) ordinary bills of lading used by carriers;

b) released bills of lading;

c) undervalued bills of lading; and

d) shipping or messenger receipts.

3) The Insured may waive subrogation against railroads under side track agreements.

Except as otherwise stated, the Insured will not enter into any special agreement with 

carriers releasing them from their common law or statutory liability.

TRANSPORTATION Exclusions: As respects TRANSPORTATION, the following applies:

1) the exclusions in the EXCLUSIONS clause of this section do not apply except for A1 

through A4, B1 through B4, C1, C3, C5, C6, D1 through D3.

2) the following additional exclusions apply:

This Policy excludes:

a) samples in the custody of salespeople or selling agents.

b) property insured under import or export ocean marine insurance.

c) waterborne shipments, unless:

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(i) by inland water; or

(ii) by roll-on/roll-off ferries operating between European ports; or

(iii) by coastal shipments.

d) airborne shipments unless by regularly scheduled passenger airlines or air freight 

carriers.

e) property of others, including the Insured’s legal liability for it, hauled on vehicles 

owned, leased or operated by the Insured when acting as a common or contract 

carrier.

f) any transporting vehicle.

g) property shipped between continents, except by land or air between Europe and 

Asia.

TRANSPORTATION Valuation: On property covered under this Additional Coverage the 

loss amount will not exceed:

1) Property shipped to or for the account of the Insured will be valued at actual invoice to 

the Insured. Included in the value are accrued costs and charges legally due. Charges 

may include the Insured’s commission as selling agent.

2) Property sold by the Insured and shipped to or for the purchaser’s account will be valued 

at the Insured’s selling invoice amount. Prepaid or advanced freight costs are included.

3) Property not under invoice will be valued:

a) for property of the Insured, at the valuation provisions of this Policy applying at the 

place from which the property is being transported; or

b) for other property, at the actual cash market value at the destination point on the date 

of loss,

less any charges saved which would have become due and payable upon arrival at 

destination.

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TIME ELEMENT

TIME ELEMENT loss as provided in the TIME ELEMENT COVERAGES and TIME ELEMENT 

COVERAGE EXTENSIONS of this section of the Policy:

A. is subject to the applicable limit of liability that applies to the insured physical loss or 

damage but in no event for more than any limit of liability that is stated as applying to the 

specific TIME ELEMENT COVERAGE and/or TIME ELEMENT COVERAGE 

EXTENSION; and

B. will not increase the Policy limit of liability; and

C. is subject to the Policy provisions, including applicable exclusions and deductibles,

all as shown in this section and elsewhere in this Policy.

1. LOSS INSURED

A. This Policy insures TIME ELEMENT loss, as provided in the TIME ELEMENT 

COVERAGES, directly resulting from physical loss or damage of the type insured:

1) to property described elsewhere in this Policy and not otherwise excluded by this Policy 

or otherwise limited in the TIME ELEMENT COVERAGES below;

2) used by the Insured, or for which the Insured has contracted use;

3) while located as described in the INSURANCE PROVIDED provision or within 1,000 

feet/300 metres thereof, or as described in the TEMPORARY REMOVAL OF 

PROPERTY provision; or

4) while in transit as provided by this Policy, and

5) during the Periods of Liability described in this section,

provided such loss or damage is not at a contingent time element location.

B. This Policy insures TIME ELEMENT loss only to the extent it cannot be reduced through:

1) the use of any property or service owned or controlled by the Insured;

2) the use of any property or service obtainable from other sources;

3) working extra time or overtime; or

4) the use of inventory,

all whether at an insured location or at any other premises. The Company reserves the right 

to take into consideration the combined operating results of all associated, affiliated or 

subsidiary companies of the Insured in determining the TIME ELEMENT loss.

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C. This Policy covers expenses reasonably and necessarily incurred by the Insured to reduce the 

loss otherwise payable under this section of this Policy. The amount of such recoverable 

expenses will not exceed the amount by which the loss has been reduced.

D. In determining the amount of loss payable, the Company will consider the experience of the 

business before and after and the probable experience during the PERIOD OF LIABILITY. 

The probable experience will consider any increase or decrease in demand for the Insured’s 

goods or services during the PERIOD OF LIABILITY, even if such increase or decrease is 

from the same event that caused physical loss or damage starting the PERIOD OF 

LIABILITY.

2. TIME ELEMENT COVERAGES

A. INSURED OPTION

The Insured has the option to make claim based on either

a) GROSS EARNINGS and EXTENDED PERIOD OF LIABILITY; or

b) GROSS PROFIT,

as described in the TIME ELEMENT section of this Policy and subject to the applicable 

terms and conditions as may be shown elsewhere.

Such option may be exercised at any time prior to the conditions set forth in the 

SETTLEMENT OF CLAIMS clause in the LOSS ADJUSTMENT AND SETTLEMENT 

section of this Policy.

If such claim involves more than one insured location, including interdependency at one or 

more insured locations, such claim will be adjusted by using the single coverage option 

chosen above.

B. GROSS EARNINGS

Measurement of Loss:

1) The recoverable GROSS EARNINGS loss is the Actual Loss Sustained by the Insured 

of the following during the PERIOD OF LIABILITY:

a) Gross Earnings;

b) less all charges and expenses that do not necessarily continue during the interruption 

of production or suspension of business operations or services;

c) plus all other earnings derived from the operation of the business.

2) For the purposes of the Measurement of Loss, Gross Earnings is:

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for manufacturing operations: the net sales value of production less the cost of all raw 

stock, materials and supplies used in such production; or

for mercantile or non-manufacturing operations: the total net sales less cost of 

merchandise sold, materials and supplies consumed in the operations or services 

rendered by the Insured.

Any amount recovered under property damage coverage at selling price will be 

considered to have been sold to the Insured’s regular customers and will be credited 

against net sales.

3) In determining the indemnity payable as the Actual Loss Sustained, the Company will 

consider the continuation of only those normal charges and expenses that would have 

been earned had there been no interruption of production or suspension of business 

operations or services.

4) There is recovery hereunder to the extent that the Insured is:

a) wholly or partially prevented from producing goods or continuing business 

operations or services;

b) unable to make up lost production within a reasonable period of time, not limited to 

the period during which production is interrupted;

c) unable to continue such operations or services during the PERIOD OF LIABILITY; 

and

d) able to demonstrate a loss of sales for the operations, services or production 

prevented.

C. GROSS PROFIT

Measurement of Loss:

1) The recoverable GROSS PROFIT loss is the Actual Loss Sustained by the Insured of the 

following due to the necessary interruption of business during the PERIOD OF 

LIABILITY: a) Reduction in Sales and b) Increase in Cost of Doing Business. The 

amount payable as indemnity hereunder will be:

a) with respect to Reduction in Sales: The sum produced by applying the Rate of 

Gross Profit to the amount by which the sales during the PERIOD OF LIABILITY 

will fall short of the Standard Sales. In determining the Reduction in Sales, any 

amount recovered under property damage coverage at selling price will be credited 

against lost sales.

b) with respect to Increase in Cost of Doing Business:

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(i) the additional expenditure necessarily and reasonably incurred for the sole 

purpose of avoiding or diminishing the reduction in sales which, but for that 

expenditure, would have taken place during the PERIOD OF LIABILITY; but

(ii) not exceeding the sum produced by applying the Rate of Gross Profit to the 

amount of the reduction thereby avoided,

all less any sum saved during the PERIOD OF LIABILITY with respect to such of the 

Insured Fixed Charges as may cease or be reduced because of such interruption of 

business.

2) For the purposes of the Measurement of Loss:

Gross Profit is:

The amount produced by adding to the Net Profit the amount of the Insured Fixed 

Charges, or if there be no Net Profit the amount of the Insured Fixed Charges less that 

proportion of any loss from business operations as the amount of the Insured Fixed 

Charges bears to all fixed charges.

Net Profit is:

The net operating profit (exclusive of all capital receipts and accruals and all outlay 

properly chargeable to capital) resulting from the business of the Insured at the insured 

locations after due provision has been made for all fixed charges and other expenses 

including depreciation but before the deduction of any taxes on profits.

Insured Fixed Charges is:

All fixed charges unless specifically excluded herein.

Sales is:

The money paid or payable to the Insured for goods sold and delivered and for services 

rendered in the conduct of the business at an insured location.

Rate of Gross Profit is:

The rate of Gross Profit earned on the sales during the twelve full calendar months 

immediately before the date of the physical loss or damage to the described property.

Standard Sales is:

The sales during that period in the twelve months immediately before the date of the 

physical loss or damage to the described property which corresponds with the PERIOD 

OF LIABILITY.

3) In determining the indemnity payable as the Actual Loss Sustained:

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a) if any fixed charges of the business are not insured hereunder, then, in computing 

the amount recoverable hereunder as Increase in Cost of Doing Business, that 

proportion only of the additional expenditure will be recoverable hereunder which 

the sum of the Net Profit and the Insured Fixed Charges bears to the sum of the Net 

Profit and all the fixed charges.

b) if during the PERIOD OF LIABILITY goods will be sold or services will be 

rendered elsewhere than at the insured locations for the benefit of the business, 

either by the Insured or by others on the Insured’s behalf, the money paid or payable 

in respect of such sales or services will be included in arriving at the amount of sales 

during the PERIOD OF LIABILITY.

4) The Insured will act with due diligence and dispatch in repairing or replacing physically 

damaged buildings and equipment to the same or equivalent physical and operating 

conditions that existed prior to the damage; and take whatever actions are necessary and 

reasonable to minimize the loss payable hereunder.

GROSS PROFIT Exclusions: As respects GROSS PROFIT, the TIME ELEMENT 

EXCLUSIONS B and C of this section do not apply and the following applies instead:

This Policy does not insure against any increase in loss due to damages for breach of 

contract or for late or noncompletion of orders, or fines or penalties of any nature except 

fines or penalties for breach of contract or for late or noncompletion of orders.

Coverage under GROSS PROFIT for the reduction in sales due to contract cancellation will 

include only those sales that would have been earned under the contract during the PERIOD 

OF LIABILITY.

D. EXTRA EXPENSE

Measurement of Loss:

The recoverable EXTRA EXPENSE loss will be the reasonable and necessary extra costs 

incurred by the Insured of the following during the PERIOD OF LIABILITY:

1) extra expenses to temporarily continue as nearly normal as practicable the conduct of 

the Insured’s business;

2) extra costs of temporarily using property or facilities of the Insured or others; and

3) costs to purchase finished goods from third parties to fulfill orders when such orders 

cannot be met due to physical loss or damage to the Insured’s finished goods, less 

payment received for the sale of such finished goods.

less any value remaining at the end of the PERIOD OF LIABILITY for property obtained in 

connection with the above.

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If the Insured makes claim in accordance with the terms and conditions of the INSURED 

OPTION clause, the PERIOD OF LIABILITY for EXTRA EXPENSE coverage will be the 

PERIOD OF LIABILITY applicable to the Time Element coverage option selected.

EXTRA EXPENSE Exclusions: As respects EXTRA EXPENSE, the following applies:

1) TIME ELEMENT EXCLUSIONS C does not apply to item 3 above.

2) The following additional exclusions apply:

This Policy does not insure:

a) any loss of income.

b) costs that usually would have been incurred in conducting the business during the 

same period had no physical loss or damage happened.

c) costs of permanent repair or replacement of property that has been damaged or 

destroyed. However, this exclusion does not apply to item 3 above.

d) any expense recoverable elsewhere in this Policy.

E. LEASEHOLD INTEREST

Measurement of Loss:

The recoverable LEASEHOLD INTEREST incurred by the Insured of the following:

1) If the lease agreement requires continuation of rent; and if the property is wholly 

untenantable or unusable, the actual rent payable for the unexpired term of the lease; or 

if the property is partially untenantable or unusable, the proportion of the rent payable 

for the unexpired term of the lease.

2) If the lease is cancelled by the lessor pursuant to the lease agreement or by the operation 

of law; the Lease Interest for the first three months following the loss; and the Net Lease 

Interest for the remaining unexpired term of the lease.

3) As used above, the following terms mean:

Net Lease Interest:

That sum which placed at 6% interest rate compounded annually would equal the Lease 

Interest (less any amounts otherwise payable hereunder).

Lease Interest:

The excess rent paid for the same or similar replacement property over actual rent 

payable plus cash bonuses or advance rent paid (including maintenance or operating 

charges) for each month during the unexpired term of the Insured’s lease.

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LEASEHOLD INTEREST Exclusions: As respects LEASEHOLD INTEREST, the 

following applies:

1) This Policy does not insure loss directly resulting from physical loss or damage to 

Personal Property.

2) TIME ELEMENT EXCLUSIONS A, B and C do not apply and the following applies 

instead:

This Policy does not insure any increase in loss resulting from the suspension, lapse or 

cancellation of any license, or from the Insured exercising an option to cancel the lease; 

or from any act or omission of the Insured that constitutes a default under the lease.

F. RENTAL INSURANCE

Measurement of Loss:

The recoverable RENTAL INSURANCE loss is the Actual Loss Sustained by the Insured of 

the following during the PERIOD OF LIABILITY:

1) the fair rental value of any portion of the property occupied by the Insured;

2) the income reasonably expected from rentals of unoccupied or unrented portions of such 

property; and

3) the rental income from the rented portions of such property according to bona fide 

leases, contracts or agreements in force at the time of loss,

all not to include noncontinuing charges and expenses.

RENTAL INSURANCE Exclusions: As respects RENTAL INSURANCE, TIME 

ELEMENT EXCLUSIONS A does not apply and the following applies instead:

This Policy does not insure any loss of rental income during any period in which the insured 

property would not have been tenantable for any reason other than an insured loss.

3. PERIOD OF LIABILITY

A. The PERIOD OF LIABILITY applying to all TIME ELEMENT COVERAGES, except 

GROSS PROFIT and LEASEHOLD INTEREST and as shown below or if otherwise 

provided under any TIME ELEMENT COVERAGE EXTENSION, and subject to any Time 

Limit provided in the LIMITS OF LIABILITY clause in the DECLARATIONS section, is 

as follows:

1) For building and equipment, the period:

a) starting from the time of physical loss or damage of the type insured; and

b) ending when with due diligence and dispatch the building and equipment could be:

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(i) repaired or replaced; and

(ii) made ready for operations,

under the same or equivalent physical and operating conditions that existed prior to 

the damage.

c) not to be limited by the expiration of this Policy.

2) For building and equipment under construction:

a) the equivalent of the above period of time will be applied to the level of business 

that would have been reasonably achieved after construction and startup would have 

been completed had no physical damage happened; and

b) due consideration will be given to the actual experience of the business compiled 

after completion of the construction and startup.

3) For stock-in-process and mercantile stock, including finished goods not manufactured 

by the Insured, the time required with the exercise of due diligence and dispatch:

a) to restore stock in process to the same state of manufacture in which it stood at the 

inception of the interruption of production or suspension of business operations or 

services; and

b) to replace physically damaged mercantile stock.

This item does not apply to RENTAL INSURANCE.

4) For raw materials and supplies, the period of time:

a) of actual interruption of production or suspension of operations or services resulting 

from the inability to get suitable raw materials and supplies to replace similar ones 

damaged; but

b) limited to that period for which the damaged raw materials and supplies would have 

supplied operating needs.

5) If water:

a) used for any manufacturing purpose, including but not limited to as a raw material or 

for power;

b) stored behind dams or in reservoirs; and

c) on any insured location,

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is released as the result of physical damage of the type insured to such dam, reservoir or 

connected equipment, the Company’s liability for the actual interruption of production 

or suspension of operations or services due to inadequate water supply will not extend 

beyond 30 consecutive days after the damaged dam, reservoir or connected equipment 

has been repaired or replaced.

This item does not apply to RENTAL INSURANCE.

6) For physically damaged exposed films, records, manuscripts and drawings, the time 

required to copy from backups or from originals of a previous generation. This time 

does not include research, engineering or any other time necessary to restore or recreate 

lost information.

This item does not apply to RENTAL INSURANCE.

7) For physically damaged or destroyed property covered under DATA, PROGRAMS OR 

SOFTWARE, the time to recreate or restore including the time for researching or 

engineering lost information.

This item does not apply to RENTAL INSURANCE.

B. The PERIOD OF LIABILITY applying to GROSS PROFIT is as follows:

1) The period:

a) starting from the time of physical loss or damage of the type insured; and

b) ending not later than the period of time shown in the LIMITS OF LIABILITY 

clause of the DECLARATIONS section,

during which period the results of the business shall be directly affected by such 

damage.

c) not to be limited by the expiration of this Policy.

2) For property under construction, the period:

a) starting on the date that production, business operation or service would have 

commenced if physical damage of the type insured had not happened; and

b) ending not later than the period of time shown in the LIMITS OF LIABILITY 

clause of the DECLARATIONS section,

during which period the results of the business shall be directly affected by such 

damage.

c) not to be limited by the expiration of this Policy.

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The Rate of Gross Profit and Standard Sales will be based on the experience of the 

business after construction is completed and the probable experience during the 

PERIOD OF LIABILITY.

C. The PERIOD OF LIABILITY does not include any additional time due to the Insured’s 

inability to resume operations for any reason, including but not limited to:

1) making changes to the buildings, structures, machinery or equipment except as provided 

in the LAW AND ORDINANCE clause in the PROPERTY DAMAGE section.

2) restaffing or retraining employees. However, this item does not apply to additional time 

needed to train staff to use new machinery or equipment that replaces machinery or 

equipment that suffered insured physical loss or damage, provided such training is 

completed within 90 consecutive days after the new machinery or equipment has been 

installed.

If two or more Periods of Liability apply such periods will not be cumulative.

4. TIME ELEMENT EXCLUSIONS

In addition to the exclusions elsewhere in this Policy, the following exclusions apply to TIME 

ELEMENT loss:

This Policy does not insure:

A. Any loss during any idle period, including but not limited to when production, operation, 

service or delivery or receipt of goods would cease, or would not have taken place or would 

have been prevented due to:

1) physical loss or damage not insured by this Policy on or off of the insured location.

2) planned or rescheduled shutdown.

3) strikes or other work stoppage.

4) any other reason other than physical loss or damage insured under this Policy.

B. Any increase in loss due to:

1) suspension, cancellation or lapse of any lease, contract, license or orders.

2) damages for breach of contract or for late or noncompletion of orders.

3) fines or penalties of any nature except fines or penalties for breach of contract or for late 

or noncompletion of orders.

4) any other consequential or remote loss.

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C. Any loss resulting from physical loss or damage to finished goods manufactured by the 

Insured, or the time required for their reproduction.

D. Any loss resulting from the actual cash value portion of direct physical loss or damage by 

fire caused by or resulting from terrorism.

5. TIME ELEMENT COVERAGE EXTENSIONS

This Policy also insures TIME ELEMENT loss, as provided by the TIME ELEMENT 

COVERAGES of this Policy, for the TIME ELEMENT COVERAGE EXTENSIONS described 

below.

CYBER TIME ELEMENT COVERAGE EXTENSIONS

A. COMPUTER SYSTEMS NON PHYSICAL DAMAGE

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the period of interruption directly resulting from:

1) the failure of the Insured’s electronic data processing equipment or media to operate, 

provided that such failure is the direct result of a malicious act directed at the NAMED 

INSURED; or

2) the Insured’s reasonable action to temporarily protect the Insured’s electronic data 

processing equipment or media against an actual or immediately impending malicious 

act directed at the NAMED INSURED, provided such action is necessary to prevent 

failure of the Insured’s electronic data processing equipment or media to operate.

For the purposes of this Extension, the Insured’s electronic data processing equipment or 

media can be located worldwide except in Cuba, Iran, North Korea, Sudan, Syria or Crimea 

Region of Ukraine.

As respects item 1 above, this Extension will apply when the period of interruption is in 

excess of 48 hours.

As used above, the period of interruption:

1) is the period starting when the Insured’s electronic data processing equipment or 

media fails to operate and ending when with due diligence and dispatch, the Insured’s 

electronic data processing equipment or media could be restored to the same or 

equivalent operating condition that existed prior to the failure.

2) does not include the additional time to make changes to the Insured’s electronic data 

processing equipment or media.

B. OFF PREMISES DATA SERVICES TIME ELEMENT

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the period of interruption at an insured location of off-premises data 

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processing or data transmission services, when the interruption is caused by any 

accidental event at the facilities of the provider of such services that immediately prevents in 

whole or in part the delivery of such provided services.

For the purposes of this Extension:

1) facilities of the provider of off-premises data processing or data transmission 

services can be located worldwide except in Cuba, Iran, North Korea, Sudan, Syria or

Crimea Region of Ukraine, and

2) an accidental event to satellites will be considered an accidental event at the facilities of 

the provider.

This Extension will apply when the period of interruption of off-premises data processing 

or data transmission services is in excess of 24 hours.

Additional General Provisions:

1) The Insured will immediately notify the company providing off-premises data 

processing or data transmission services of any interruption of such services.

2) The Company will not be liable if the interruption of such services is caused directly or 

indirectly by the failure of the Insured to comply with the terms and conditions of any 

contracts the Insured has entered into for such specified services.

Coverage provided in this Extension is excluded from coverage elsewhere in this Policy.

This Extension does not cover Actual Loss Sustained and EXTRA EXPENSE incurred by 

the Insured covered by COMPUTER SYSTEMS NON PHYSICAL DAMAGE coverage as 

provided in this section of the Policy.

OFF PREMISES DATA SERVICES TIME ELEMENT Exclusions: As respects OFF 

PREMISES DATA SERVICES TIME ELEMENT, the following applies:

1) Item B4 of the EXCLUSIONS clause in the PROPERTY DAMAGE section does not 

apply except for B4 with respect to:

a) incoming electricity, fuel, water, gas, steam or refrigerant; and

b) outgoing sewerage.

2) The following additional exclusion applies:

This Policy excludes loss or damage directly or indirectly caused by or resulting from 

the following regardless of any other cause or event, whether or not insured under this 

Policy, contributing concurrently or in any other sequence to the loss:

a) terrorism.

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As used above, the period of interruption of off-premises data processing or data 

transmission services:

1) is the period starting with the time when an interruption of provided services happens; 

and ending when with due diligence and dispatch the service could be wholly restored 

and the location receiving the service could or would have resumed normal operations 

following the restorations of service under the same or equivalent physical and operating 

conditions as provided by the PERIOD OF LIABILITY clause in this section.

2) is limited to only those hours during which the Insured would or could have used 

service(s) if it had been available.

3) does not extend to include the interruption of operations caused by any reason other than 

interruption of the provided service(s).

SUPPLY CHAIN TIME ELEMENT COVERAGE EXTENSIONS

A. CIVIL OR MILITARY AUTHORITY

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the PERIOD OF LIABILITY if an order of civil or military authority limits, 

restricts or prohibits partial or total access to an insured location provided such order is the 

direct result of physical damage of the type insured at the insured location or within five 

statute miles/eight kilometres of it.

This Extension does not apply to LEASEHOLD INTEREST.

The PERIOD OF LIABILITY for this TIME ELEMENT COVERAGE EXTENSION will 

be:

The period of time:

1) starting at the time of such physical damage; but

2) not to exceed the time limit shown in the LIMITS OF LIABILITY clause in the 

DECLARATIONS section,

this period of time is part of and not in addition to any PERIOD OF LIABILITY applying to 

any coverage provided in the TIME ELEMENT section.

B. CONTINGENT TIME ELEMENT EXTENDED

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the PERIOD OF LIABILITY directly resulting from physical loss or damage 

of the type insured to property of the type insured at contingent time element locations

located within the TERRITORY of this Policy.

As respects CONTINGENT TIME ELEMENT EXTENDED:

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1) Time Element loss recoverable under this Extension is extended to include the following 

TIME ELEMENT COVERAGE EXTENSIONS:

CIVIL OR MILITARY AUTHORITY

CONTINGENT TIME ELEMENT EXTENDED

DELAY IN STARTUP

EXTENDED PERIOD OF LIABILITY

INGRESS/EGRESS

OFF PREMISES DATA SERVICES TIME ELEMENT

ON PREMISES SERVICES

SERVICE INTERRUPTION TIME ELEMENT

2) The Insured will influence and cooperate with the contingent time element location in 

every way and take any reasonable and necessary action to mitigate the loss payable 

hereunder.

3) TIME ELEMENT EXCLUSIONS C does not apply.

CONTINGENT TIME ELEMENT EXTENDED Exclusions: As respects CONTINGENT 

TIME ELEMENT EXTENDED, the following additional exclusions apply:

This Policy does not insure loss resulting from:

1) lack of incoming or outgoing transmission of voice, data or video.

2) physical loss or damage caused by or resulting from terrorism, regardless of any other 

cause or event, whether or not insured under this Policy, contributing concurrently or in 

any other sequence of loss.

C. INGRESS/EGRESS

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured due to the necessary interruption of the Insured’s business due to partial or total 

physical prevention of ingress to or egress from an insured location, whether or not the 

premises or property of the Insured is damaged, provided that such prevention is a direct 

result of physical damage of the type insured to property of the type insured.

INGRESS/EGRESS Exclusions: As respects INGRESS/EGRESS, the following additional 

exclusions apply:

This Policy does not insure loss resulting from:

1) lack of incoming or outgoing service consisting of electric, fuel, gas, water, steam, 

refrigerant, sewerage and voice, data or video.

2) picketing or other action by strikers except for physical damage not excluded by this 

Policy.

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3) physical loss or damage caused by or resulting from terrorism, regardless of any other 

cause or event, whether or not insured under this Policy, contributing concurrently or in 

any other sequence to the loss.

This Policy does not provide coverage under this Extension for more than the number of 

consecutive days shown in the LIMITS OF LIABILITY clause of the DECLARATIONS 

section.

D. LOGISTICS EXTRA COST

This Policy covers the extra cost incurred by the Insured during the PERIOD OF 

LIABILITY due to the disruption of the normal movement of goods or materials:

1) directly between insured locations; or

2) directly between an insured location and a location of a direct customer, supplier, 

contract manufacturer or contract service provider to the Insured,

provided that such disruption is a direct result of physical loss or damage of the type insured 

to property of the type insured located within the TERRITORY of this Policy.

Measurement of Loss:

The recoverable extra cost loss will be the reasonable and necessary extra costs incurred by 

the Insured of the following:

1) extra costs to temporarily continue as nearly normal as practicable the movement of 

goods or materials.

This Extension will apply when the PERIOD OF LIABILITY is in excess of 48 hours except 

168 hours applies for earth movement and/or flood and/or wind.

LOGISTICS EXTRA COST Exclusions: As respects LOGISTICS EXTRA COST, the 

following additional exclusions apply:

This Policy does not insure:

1) any loss resulting from disruption in the movement of goods or materials between 

contingent time element locations.

2) any loss resulting from disruption of incoming or outgoing services consisting of 

electricity, gas, fuel, steam, water, refrigeration, sewerage and voice, data or video.

3) any loss of income.

4) costs that usually would have been incurred in conducting the business during the same 

period had there been no disruption of normal movement of goods or materials.

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5) costs of permanent repair or replacement of property that has been damaged or 

destroyed.

6) any expense recoverable elsewhere in this Policy.

7) any loss resulting from disruption caused by or resulting from terrorism, regardless of 

any other cause or event, whether or not insured under this Policy, contributing 

concurrently or in any other sequence to the loss.

8) any loss resulting from disruption caused by loss or damage from earth movement in 

California, in the New Madrid Seismic Zone or in the Pacific Northwest Seismic 

Zone.

9) any loss resulting from disruption caused by physical loss or damage to personal 

property of the Insured while in transit.

The PERIOD OF LIABILITY for this TIME ELEMENT COVERAGE EXTENSION will 

be:

The period of time:

1) starting at the time of physical loss or damage causing the disruption of the normal

movement of goods or materials directly between insured locations; or directly between 

the insured location and the location of the direct customer, supplier, contract 

manufacturer or contract service provider to the Insured, and

2) ending not later than:

a) when with due diligence and dispatch the normal movement of goods or materials 

directly between insured locations; or directly between the insured location and the 

location of the direct customer, supplier, contract manufacturer or contract service 

provider to the Insured could be resumed; or

b) the number of consecutive days shown in the LIMITS OF LIABILITY clause of the 

DECLARATIONS section.

E. SERVICE INTERRUPTION TIME ELEMENT

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the period of service interruption at an insured location when the loss is 

caused by the interruption of incoming services consisting of electricity, gas, fuel, steam, 

water, refrigeration or from the lack of outgoing sewerage service by reason of any 

accidental event at the facilities of the supplier of such service located within this Policy’s 

TERRITORY, that immediately prevents in whole or in part the delivery of such usable 

services.

This Extension will apply when the period of service interruption is in excess of 24 hours.

Additional General Provisions:

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1) The Insured will immediately notify the suppliers of services of any interruption of such 

services.

2) The Company will not be liable if the interruption of such services is caused directly or 

indirectly by the failure of the Insured to comply with the terms and conditions of any 

contracts the Insured has for the supply of such specified services.

SERVICE INTERRUPTION TIME ELEMENT Exclusions: As respects SERVICE 

INTERRUPTION TIME ELEMENT, the following applies:

1) The exclusions in the EXCLUSIONS clause in the PROPERTY DAMAGE section do 

not apply except for:

a) A1, A2, A3, A6, B1, B2, and

b) B4 with respect to incoming or outgoing voice, data or video, and

c) D1 except with respect to fungus, mold or mildew.

2) The following additional exclusion applies:

This Policy excludes loss or damage directly or indirectly caused by or resulting from 

the following regardless of any other cause or event, whether or not insured under this 

Policy, contributing concurrently or in any other sequence to the loss:

a) terrorism.

As used above, the period of service interruption:

1) is the period starting with the time when an interruption of specified services happens; 

and ending when with due diligence and dispatch the service could be wholly restored 

and the location receiving the service could or would have resumed normal operations 

following the restorations of service under the same or equivalent physical and operating 

conditions as provided by the PERIOD OF LIABILITY clause in this section.

2) is limited to only those hours during which the Insured would or could have used 

service(s) if it had been available.

3) does not extend to include the interruption of operations caused by any reason other than 

interruption of the specified service(s).

ADDITIONAL TIME ELEMENT COVERAGE EXTENSIONS

A. ATTRACTION PROPERTY

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the PERIOD OF LIABILITY directly resulting from physical loss or damage 

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of the type insured to property of the type insured that attracts business to an insured 

location and is within 1 statute mile/1.6 kilometres of the insured location.

ATTRACTION PROPERTY Exclusions: As respects ATTRACTION PROPERTY, the 

following additional exclusion applies:

This Policy does not insure loss resulting from:

1) physical loss or damage caused by or resulting from terrorism, regardless of any other 

cause or event, whether or not insured under this Policy, contributing concurrently or in 

any other sequence to the loss.

The PERIOD OF LIABILITY for this TIME ELEMENT COVERAGE EXTENSION will 

be:

The period of time:

1) starting at the time of such physical damage; but

2) not to exceed the time limit shown in the LIMITS OF LIABILITY clause in the 

DECLARATIONS section.

B. CRISIS MANAGEMENT

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the PERIOD OF LIABILITY if an order of civil or military authority limits, 

restricts or prohibits partial or total access to an insured location, provided such order is a 

direct result of:

1) a violent crime, suicide, attempted suicide, or armed robbery; or

2) a death or bodily injury caused by a workplace accident;

at such insured location.

For the purposes of this Extension only, a workplace accident shall be considered a sudden, 

fortuitous event that happens during working hours and arises out of work performed in the 

course and the scope of employment.

This Extension of coverage will apply when the PERIOD OF LIABILITY is in excess of 4 

hours.

CRISIS MANAGEMENT Exclusions: As respects CRISIS MANAGEMENT, the following 

additional exclusion applies:

This Policy excludes loss or damage directly or indirectly caused by or resulting from the 

following regardless of any other cause or event, whether or not insured under this Policy, 

contributing concurrently or in any other sequence to the loss:

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1) terrorism.

The PERIOD OF LIABILITY for this TIME ELEMENT COVERAGE EXTENSION will 

be:

The period of time:

1) starting with the time the civil or military authority prohibits access; but

2) not to exceed the time limit shown in the LIMITS OF LIABILITY clause in the 

DECLARATIONS section.

C. DELAY IN STARTUP

GROSS EARNINGS or GROSS PROFIT and EXTRA EXPENSE are extended to cover the 

Actual Loss Sustained incurred by the Insured during the PERIOD OF LIABILITY due to 

the reasonable and necessary delay in startup of business operations directly resulting from 

physical loss or damage of the type insured to insured property under construction at an 

insured location.

D. EXTENDED PERIOD OF LIABILITY

The GROSS EARNINGS coverage is extended to cover the reduction in sales resulting 

from:

1) the interruption of business as covered by GROSS EARNINGS;

2) for such additional length of time as would be required with the exercise of due 

diligence and dispatch to restore the Insured’s business to the condition that would have 

existed had no loss happened; and

3) commencing with the date on which the liability of the Company for loss resulting from 

interruption of business would terminate if this Extension had not been included in this 

Policy.

However, this Extension does not apply to GROSS EARNINGS loss resulting from physical 

loss or damage caused by or resulting from terrorism.

EXTENDED PERIOD OF LIABILITY Exclusions: As respects EXTENDED PERIOD OF 

LIABILITY, the TIME ELEMENT EXCLUSIONS B of this section does not apply and the 

following applies instead:

This Policy does not insure against any increase in loss due to damages for breach of 

contract or for late or noncompletion of orders, or fines or penalties of any nature except 

fines or penalties for breach of contract or for late or noncompletion of orders.

Coverage under this Extension for the reduction in sales due to contract cancellation will 

include only those sales that would have been earned under the contract during the extended 

period of liability.

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Coverage under this Extension does not apply for more than the number of consecutive days 

shown in the LIMITS OF LIABILITY clause of the DECLARATIONS section.

E. INTERRUPTION BY COMMUNICABLE DISEASE

If a location owned, leased or rented by the Insured has the actual not suspected presence of 

communicable disease and access to such location is limited, restricted or prohibited by:

1) an order of an authorized governmental agency regulating the actual not suspected 

presence of communicable disease; or

2) a decision of an Officer of the Insured as a result of the actual not suspected presence of 

communicable disease,

this Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the Insured 

during the PERIOD OF LIABILITY at such location with the actual not suspected presence 

of communicable disease.

This Extension will apply when access to such location is limited, restricted, or prohibited in 

excess of 48 hours.

INTERRUPTION BY COMMUNICABLE DISEASE Exclusions: As respects 

INTERRUPTION BY COMMUNICABLE DISEASE, the following additional exclusions 

apply:

This Policy does not insure loss resulting from:

1) the enforcement of any law or ordinance with which the Insured was legally obligated to 

comply prior to the time of the actual spread of communicable disease.

2) loss or damage caused by or resulting from terrorism, regardless of any other cause or 

event, whether or not insured under this Policy, contributing concurrently or in any 

sequence of loss.

The PERIOD OF LIABILITY for this TIME ELEMENT COVERAGE EXTENSION will 

be:

The period of time:

1) starting at the time of the order of the authorized governmental agency or the Officer of 

the Insured; but

2) not to exceed the time limit shown in the LIMITS OF LIABILITY clause in the 

DECLARATIONS section,

this period of time is part of and not in addition to any PERIOD OF LIABILITY applying to 

any coverage provided in the TIME ELEMENT section.

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F. ON PREMISES SERVICES

This Policy covers the Actual Loss Sustained and EXTRA EXPENSE incurred by the 

Insured during the PERIOD OF LIABILITY directly resulting from physical loss or damage 

of the type insured to the following property located within 1,000 feet/300 metres of the 

insured location:

1) Electrical equipment and equipment used for the transmission of voice, data or video.

2) Electrical, fuel, gas, water, steam, refrigeration, sewerage, voice, data or video 

transmission lines.

G. PROTECTION AND PRESERVATION OF PROPERTY TIME ELEMENT

This Policy covers the Actual Loss Sustained by the Insured for a period of time not to 

exceed 48 hours prior to and 48 hours after the Insured first taking reasonable action for the 

temporary protection and preservation of property insured by this Policy provided such 

action is necessary to prevent immediately impending insured physical loss or damage to 

such insured property.

This Extension does not cover the Actual Loss Sustained by the Insured to temporarily 

protect or preserve insured property from actual, or to prevent immediately impending, 

physical loss or damage covered by TERRORISM coverage as provided in the PROPERTY 

DAMAGE section.

This Extension is subject to the deductible provisions that would have applied had the 

physical loss or damage happened.

H. RELATED REPORTED VALUES

If reported TIME ELEMENT values include:

1) locations used by the Insured (such as branch stores, sales outlets and other plants) but 

not listed on a schedule under this Policy; and

2) a TIME ELEMENT loss would result at such locations,

3) from insured physical loss or damage at an insured location,

then this Policy provides coverage for such resulting TIME ELEMENT loss in accordance 

with the coverage applicable at such insured location.

I. RESEARCH AND DEVELOPMENT

The GROSS EARNINGS and GROSS PROFIT coverages are extended to insure the Actual 

Loss Sustained by the Insured of continuing fixed charges and ordinary payroll directly 

attributable to the interruption of research and development activities that in themselves 

would not have produced income during the PERIOD OF LIABILITY.

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The PERIOD OF LIABILITY for this Extension will be the period from the time of direct 

physical loss or damage of the type insured to the time when the property could be repaired 

or replaced and made ready for operations, but not to be limited by the date of expiration of 

this Policy.

J. SOFT COSTS

This Policy covers the Actual Loss Sustained incurred by the Insured of soft costs during the 

PERIOD OF LIABILITY arising out of the delay of completion of buildings and additions 

under construction directly resulting from physical loss or damage of the type insured to 

insured property under construction at an insured location.

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LOSS ADJUSTMENT AND SETTLEMENT

1. REQUIREMENTS IN CASE OF LOSS

The Insured will:

1) give immediate written notice to the Company of any loss.

2) protect the property from further loss or damage.

3) promptly separate the damaged and undamaged property; put it in the best possible order; 

and furnish a complete inventory of the lost, destroyed, damaged and undamaged property 

showing in detail the quantities, costs, actual cash value, replacement value and amount of 

loss claimed.

4) give a signed and sworn proof of loss to the Company within 90 days after the loss, unless 

that time is extended in writing by the Company. The proof of loss must state the 

knowledge and belief of the Insured as to:

a) the time and origin of the loss.

b) the Insured’s interest and that of all others in the property.

c) the actual cash value and replacement value of each item and the amount of loss to each 

item; all encumbrances; and all other contracts of insurance, whether valid or not, 

covering any of the property.

d) any changes in the title, use, occupation, location, possession or exposures of the 

property since the effective date of this Policy.

e) by whom and for what purpose any location insured by this Policy was occupied on the 

date of loss, and whether or not it then stood on leased ground.

5) include a copy of all the descriptions and schedules in all policies and, if required, provide 

verified plans and specifications of any buildings, fixtures, machinery or equipment 

destroyed or damaged.

6) further, the Insured, will as often as may be reasonably required:

a) exhibit to any person designated by the Company all that remains of any property;

b) submit to examination under oath by any person designated by the Company and sign 

the written records of examinations; and

c) produce for examination at the request of the Company:

(i) all books of accounts, business records, bills, invoices and other vouchers; or

(ii) certified copies if originals are lost,

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at such reasonable times and places that may be designated by the Company or its 

representative and permit extracts and machine copies to be made.

2. CURRENCY FOR LOSS PAYMENT

Losses will be adjusted and paid in the currency of the United States of America, except in Canada 

where losses will be paid in Canadian currency, unless directed otherwise by the Insured.

In the event of a loss adjustment involving currency conversion, the exchange selling rate will be 

calculated as follows:

A. As respects the calculation of deductibles and limits of liability, the rate of exchange 

published in The Wall Street Journal on the date of loss.

B. As respects loss or damage to insured real and personal property:

1) the cost to repair or replace such property will be converted at the time the cost of repair 

or replacement is incurred based on the rate of exchange published in The Wall Street 

Journal.

2) if such property is not replaced or repaired, the conversion will be based on the rate of 

exchange published in The Wall Street Journal as of the date of loss.

C. As respects TIME ELEMENT loss the conversion will be based on the average of the rate of 

exchange published in The Wall Street Journal on the date of loss and the rate of exchange 

published in The Wall Street Journal on the last day of the Period of Liability.

If The Wall Street Journal was not published on the stipulated date, the rate of exchange will be as 

published on the next business day.

3. PARTIAL PAYMENT OF LOSS SETTLEMENT

In the event of insured physical loss or damage determined by the Company’s representatives to be 

in excess of the applicable Policy deductible, the Company will advance mutually agreed upon 

partial payment(s), subject to the Policy’s provisions. To obtain such partial payments, the Insured 

will submit a signed and sworn Proof of Loss as described in this Policy, with adequate supporting 

documentation.

4. COLLECTION FROM OTHERS

The Company will not be liable for any loss to the extent that the Insured has collected for such 

loss from others.

5. SUBROGATION

The Insured is required to cooperate in any subrogation proceedings. The Company may require 

from the Insured an assignment or other transfer of all rights of recovery against any party for loss 

to the extent of the Company’s payment.

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The Company will not acquire any rights of recovery that the Insured has expressly waived prior to 

a loss, nor will such waiver affect the Insured’s rights under this Policy.

Any recovery from subrogation proceedings, less costs incurred by the Company in such 

proceedings, will be payable to the Insured in the proportion that the amount of:

1) any applicable deductible; and/or

2) any provable uninsured loss,

bears to the entire provable loss amount.

6. COMPANY OPTION

The Company has the option to take all or any part of damaged property at the agreed or appraised 

value. The Company must give notice to the Insured of its intention to do so within 30 days after 

receipt of Proof of Loss.

7. ABANDONMENT

There may be no abandonment of any property to the Company.

8. APPRAISAL

If the Insured and the Company fail to agree on the amount of loss, each will, on the written 

demand of either, select a competent and disinterested appraiser after:

1) the Insured has fully complied with all provisions of this Policy, including 

REQUIREMENTS IN CASE OF LOSS; and

2) the Company has received a signed and sworn Proof of Loss from the Insured.

Each will notify the other of the appraiser selected within 20 days of such demand.

The appraisers will first select a competent and disinterested umpire. If the appraisers fail to agree 

upon an umpire within 30 days then, on the request of the Insured or the Company, the umpire will 

be selected by a judge of a court of record in the jurisdiction in which the appraisal is pending. The 

appraisers will then appraise the amount of loss, stating separately the actual cash value and

replacement cost value as of the date of loss and the amount of loss, for each item of physical loss 

or damage or if, for TIME ELEMENT loss, the amount of loss for each TIME ELEMENT 

coverage of this Policy.

If the appraisers fail to agree, they will submit their differences to the umpire. An award agreed to 

in writing by any two will determine the amount of loss.

The Insured and the Company will each:

1) pay its chosen appraiser; and

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2) bear equally the other expenses of the appraisal and umpire.

A demand for APPRAISAL shall not relieve the Insured of its continuing obligation to comply 

with the terms and conditions of this Policy, including as provided under REQUIREMENTS IN 

CASE OF LOSS.

The Company will not be held to have waived any of its rights by any act relating to appraisal.

9. SUIT AGAINST THE COMPANY

No suit, action or proceeding for the recovery of any claim will be sustained in any court of law or 

equity unless:

1) the Insured has fully complied with all the provisions of this Policy; and

2) legal action is started within twelve months after inception of the loss.

If under the insurance laws of the jurisdiction in which the property is located, such twelve months’ 

limitation is invalid, then any such legal action must be started within the shortest limit of time 

permitted by such laws.

10. SETTLEMENT OF CLAIMS

The amount of loss for which the Company may be liable will be paid within 30 days after:

A. proof of loss as described in this Policy is received by the Company; and

B. when a resolution of the amount of loss is made either by:

1) written agreement between the Insured and the Company; or

2) the filing with the Company of an award as provided in the APPRAISAL clause of this 

section.

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GENERAL PROVISIONS

1. CANCELLATION/NON-RENEWAL

This Policy may be:

A. cancelled at any time at the request of the Insured by surrendering this Policy to the 

Company or by giving written notice to the Company stating when such cancellation will 

take effect; or

B. cancelled by the Company by giving the Insured not less than:

1) 60 days’ written notice of cancellation; or

2) 10 days’ written notice of cancellation if the Insured fails to remit, when due, payment 

of premium for this Policy; or

C. non-renewed by the Company by giving the Insured not less than 60 days’ written notice of 

non-renewal.

Return of any unearned premium will be calculated on the customary short rate basis if the Insured 

cancels and on a pro-rata basis if the Company cancels this Policy. Return of any unearned 

premium will be made by the Company as soon as practicable.

2. INSPECTIONS

The Company, at all reasonable times, will be permitted, but will not have the duty, to inspect 

insured property. The Company does not address life, safety or health issues.

The Company’s:

A. right to make inspections;

B. making of inspections; or

C. providing recommendations or other information in connection with any inspections,

will not constitute an undertaking, on behalf of or for the benefit of the Insured or others. The 

Company will have no liability to the Insured or any other person because of any inspection or 

failure to inspect.

When the Company is not providing jurisdictional inspections, the Owner/Operator has the 

responsibility to assure that jurisdictional inspections are performed as required, and to assure that 

required jurisdictional Operating Certificates are current for their pressure equipment.

3. PROVISIONS APPLICABLE TO SPECIFIC JURISDICTIONS

A. If the provisions of this Policy conflict with the laws of any jurisdictions in which this Policy 

applies, and if certain provisions are required by law to be stated in this Policy, this Policy

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will be read so as to eliminate such conflict or deemed to include such provisions for insured 

locations within such jurisdictions.

B. The Company will provide to the Insured copies of endorsements mandated for use by the 

laws of provinces in Canada. The endorsements modify this Policy with respect to any 

insured property located in the province in which the endorsement applies.

C. The Company will provide to the Insured copies of endorsements mandated for use by the 

laws of states in the United States of America. The endorsements modify this Policy with 

respect to any insured property located in the state in which the endorsement applies.

D. In respect of any insured property located in Australia, the definition of terrorism is 

declared null and void and it is agreed that a Declared Terrorist Incident under the Terrorism 

Insurance Act 2003 shall be considered an act of terrorism within the terms of this Policy. 

Coverage recoverable under the Terrorism Insurance Act 2003 is excluded from coverage 

under this Policy. Any difference in limit between loss recoverable under the Terrorism 

Insurance Act 2003 and this Policy is not recoverable under this Policy.

E. In respect of any insured property located in Belgium, the definition of terrorism is declared

null and void and it is agreed that any event defined as terrorism in accordance with the Law 

of 1 April 2007 shall be considered an act of terrorism within the terms of this Policy.

Coverage provided, in accordance with the terms and conditions of the Terrorism 

Reinsurance and Insurance Pool Statute, under the European policy issued by FM Insurance 

Europe S.A. is excluded from coverage under this Policy. Any difference in limit between 

loss recoverable from Terrorism Reinsurance and Insurance Pool and this Policy is not 

recoverable under this Policy.

F. In respect of any insured property located in France or in French territories, the definition of 

terrorism is declared null and void and it is agreed that any event certified to be an act of 

terrorism in accordance with articles L126-2, R126-1 and R126-2 of the Insurance Code and 

decree 2001-1337 dated 28 December 2001 shall be considered an act of terrorism within 

the terms of this Policy. Terrorism coverage is mandatory and is provided to the Insured 

under the European/local policy issued by FM Insurance Europe S.A. Coverage provided 

under this Policy shall not extend the coverage for terrorism provided under such 

European/local policy. Any difference in limit between loss recoverable for terrorism under 

the European/local policy and this Policy is not recoverable under this Policy.

G. Notwithstanding anything contained in this Policy to the contrary, there is no coverage for 

loss or damage and any resulting TIME ELEMENT loss, as provided in the TIME 

ELEMENT section of this Policy, caused by or resulting from the following regardless of 

any other cause or event contributing concurrently or in any other sequence to the loss:

1) terrorism for property located in Great Britain.

In respect of any property in Great Britain, the definition of terrorism is declared null and 

void and it is agreed that an act of terrorism shall mean an event certified by Her Majesty’s 

Treasury to be an act of terrorism or determined to be such by an appropriately designated 

tribunal.

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H. In respect of any insured property located in the Netherlands, the definition of terrorism is 

declared null and void and it is agreed that any event defined as terrorism in accordance with 

Dutch Terrorism Risk Reinsurance Company’s terms and conditions shall be considered an 

act of terrorism within the terms of this Policy. Coverage provided in accordance with the 

Dutch Terrorism Risk Reinsurance Company’s terms and conditions under the European 

policy issued by FM Insurance Europe S.A. is excluded from coverage under this Policy. 

Any difference in limit between loss recoverable from Dutch Terrorism Risk Reinsurance 

Company (NHT) and this Policy is not recoverable under this Policy.

I. Coverage is provided for physical loss or damage and any resulting TIME ELEMENT loss 

as provided in the TIME ELEMENT section of this Policy to insured property in Northern 

Ireland occasioned by or happening through or in consequence directly or indirectly of:

1) riot, civil commotion and (except in respect of loss or damage and resulting TIME 

ELEMENT loss by fire or explosion) strikers, locked-out workers or persons taking part 

in labor disturbances or malicious persons; and

2) terrorism,

subject to liability of the Company only to be for the extent of the loss not recoverable by the 

Insured under the "Criminal Damage (Compensation) (Northern Ireland) Order 1977" or 

subsequent legislation; and to all other terms, conditions and limits of this Policy.

J. For any insured property located in Norway, this Policy insures against loss or damage to 

insured property resulting from Natural Catastrophe perils as designated in the Act of 

Natural Perils of June 16th, 1989.

K. With respect to any insured property in South Africa, the following conditions additionally 

apply:

Notwithstanding anything contained herein to the contrary:

1) This Policy does not cover loss of or damage directly or indirectly to property related to 

or caused by:

a) civil commotion, labor disturbances, riot, strike, lockout or public disorder or any 

act or activity which is calculated or directed to bring about any of the above;

b) war, invasion, act of foreign enemy, hostilities or warlike operations (whether war 

be declared or not) or civil war;

c) (i) mutiny, military rising, military or usurped power, martial law or state of siege, 

or any other event or cause which determines the proclamation or maintenance 

of martial law or siege;

(ii) insurrection, rebellion or revolution.

d) any act (whether on behalf of any organization, body or person, or group of persons) 

calculated or directed to overthrow or influence any state or government, or any 

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provincial, local or tribal authority with force, or by means of fear, terrorism or 

violence;

e) any act which is calculated or directed to bring about loss or damage in order to 

further any political aim, objective or cause or to bring about any social or economic 

change, or in protest against any state or government, or any provincial, local or 

tribal authority, or for the purpose of inspiring fear in the public, or any section 

thereof;

f) any attempt to perform any act referred to in clause d or e above;

g) The act of any lawfully established authority in controlling, preventing, suppressing 

or in any other way dealing with any event referred to in clause a, b, c, d, e or f 

above.

If the Insurers allege that by reason of clauses a, b, c, d, e, f, or g of this exclusion, loss 

or damage is not covered by this Policy, the burden of proving the contrary will rest on 

the Insured.

2) This Policy does not cover loss or damage caused directly or indirectly by or through or 

in consequence of any event for which a fund has been established in terms of the War 

Damage Insurance and Compensation Act 1976 (No. 85 of 1976) or any similar Act 

operative in any of the territories to which this Policy applies.

L. As respects the United States, its territories and possessions and the Commonwealth of 

Puerto Rico, the definition of terrorism is declared null and void and it is agreed that an 

event defined as a Certified Act of Terrorism under the terms of the SUPPLEMENTAL 

UNITED STATES CERTIFIED ACT OF TERRORISM ENDORSEMENT(S) attached to 

this Policy shall be considered an act of terrorism within the terms of this Policy. Coverage 

recoverable under the SUPPLEMENTAL UNITED STATES CERTIFIED ACT OF 

TERRORISM ENDORSEMENT(S) is excluded from any other coverage under this Policy. 

Any difference in limit between loss recoverable under the SUPPLEMENTAL UNITED 

STATES CERTIFIED ACT OF TERRORISM ENDORSEMENT(S) and this Policy is not 

recoverable under this Policy.

4. LIBERALIZATION

If during the period that insurance is in force under this Policy, any filed rules or regulations 

affecting the same are revised by statute so as to broaden the insurance without additional premium 

charge, such extended or broadened insurance will inure to the benefit of the Insured within such 

jurisdiction, effective the date of the change specified in such statute.

5. MISREPRESENTATION AND FRAUD

This entire Policy will be void if, whether before or after a loss, an Insured has:

A. willfully concealed or misrepresented any material fact or circumstance concerning this 

insurance, the subject thereof, any insurance claim, or the interest of an Insured.

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B. made any attempt to defraud the Company.

C. made any false swearing.

6. LENDERS LOSS PAYEE AND MORTGAGEE INTERESTS AND OBLIGATIONS

A. The Company will pay for loss to specified property insured under this Policy to each 

specified Lender Loss Payee (hereinafter referred to as Lender) as its interest may appear, 

and to each specified Mortgagee as its interest may appear, under all present or future 

mortgages upon such property, in order of precedence of the mortgages.

B. The interest of the Lender or Mortgagee (as the case may be) in property insured under this 

Policy will not be invalidated by:

1) any act or neglect of the debtor, mortgagor, or owner (as the case may be) of the 

property.

2) foreclosure, notice of sale, or similar proceedings with respect to the property.

3) change in the title or ownership of the property.

4) change to a more hazardous occupancy.

The Lender or Mortgagee will notify the Company of any known change in ownership, 

occupancy, or hazard and, within 10 days of written request by the Company, may pay the 

increased premium associated with such known change. If the Lender or Mortgagee fails to 

pay the increased premium, all coverage under this Policy will cease.

C. If this Policy is cancelled at the request of the Insured or its agent, the coverage for the 

interest of the Lender or Mortgagee will terminate 10 days after the Company sends to the 

Lender or Mortgagee written notice of cancellation, unless:

1) sooner terminated by authorization, consent, approval, acceptance, or ratification of the 

Insured's action by the Lender or Mortgagee, or its agent.

2) this Policy is replaced by the Insured, with a policy providing coverage for the interest 

of the Lender or Mortgagee, in which event coverage under this Policy with respect to 

such interest will terminate as of the effective date of the replacement policy, 

notwithstanding any other provision of this Policy.

D. The Company may cancel this Policy and/or the interest of the Lender or Mortgagee under 

this Policy, by giving the Lender or Mortgagee written notice 60 days prior to the effective 

date of cancellation, if cancellation is for any reason other than non-payment. If the debtor, 

mortgagor, or owner has failed to pay any premium due under this Policy, the Company may 

cancel this Policy for such non-payment, but will give the Lender or Mortgagee written 

notice 10 days prior to the effective date of cancellation. If the Lender or Mortgagee fails to 

pay the premium due by the specified cancellation date, all coverage under this Policy will 

cease.

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E. The Company has the right to invoke this Policy's SUSPENSION clause. The suspension of 

insurance will apply to the interest of the Lender or Mortgagee in any machine, vessel, or 

part of any machine or vessel, subject to the suspension. The Company will provide the 

Lender or Mortgagee at the last known address a copy of the suspension notice.

F. If the Company pays the Lender or Mortgagee for any loss, and denies payment to the 

debtor, mortgagor or owner, the Company will, to the extent of the payment made to the 

Lender or Mortgagee be subrogated to the rights of the Lender or Mortgagee under all 

securities held as collateral to the debt or mortgage. No subrogation will impair the right of 

the Lender or Mortgagee to sue or recover the full amount of its claim. At its option, the 

Company may pay to the Lender or Mortgagee the whole principal due on the debt or 

mortgage plus any accrued interest. In this event, all rights and securities will be assigned 

and transferred from the Lender or Mortgagee to the Company, and the remaining debt or 

mortgage will be paid to the Company.

G. If the Insured fails to render proof of loss, the Lender or Mortgagee, upon notice of the 

Insured's failure to do so, will render proof of loss within 60 days of notice and will be 

subject to the provisions of this Policy relating to APPRAISAL, SETTLEMENT OF 

CLAIMS, and SUIT AGAINST THE COMPANY.

H. Other provisions relating to the interests and obligations of the Lender or Mortgagee may be 

added to this Policy by agreement in writing.

7. OTHER INSURANCE

A. If there is any other insurance that would apply in the absence of this Policy, this Policy will 

apply only after such insurance whether collectible or not.

B. In no event will this Policy apply as contributing insurance.

C. The Insured is permitted to have other insurance over any limits or sublimits of liability 

specified elsewhere in this Policy without prejudice to this Policy. The existence of any 

such insurance will not reduce any limit or sublimit of liability in this Policy. Any other 

insurance that would have provided primary coverage in the absence of this Policy will not 

be considered excess.

D. The Insured is permitted to have other insurance for all, or any part, of any deductible in this 

Policy. The existence of such other insurance will not prejudice recovery under this Policy. 

If the limits of liability of such other insurance are greater than this Policy’s applicable 

deductible, this Policy’s insurance will apply only after such other insurance has been 

exhausted.

E. If this Policy is deemed to contribute with other insurance, the limit of liability applicable at 

each location, for the purposes of such contribution with other insurers, will be the latest 

amount described in this Policy or the latest location value on file with the Company.

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8. POLICY MODIFICATION

This Policy contains all of the agreements between the Insured and the Company concerning this 

insurance. The Insured and the Company may request changes to this Policy. This Policy can be 

changed only by endorsements issued by the Company and made a part of this Policy.

Notice to any agent or knowledge possessed by any agent or by any other person will not:

A. create a waiver, or change any part of this Policy; or

B. prevent the Company from asserting any rights under the provisions of this Policy.

9. REDUCTION BY LOSS

Claims paid under this Policy will not reduce its limit of liability, except claims paid will reduce 

any aggregate during any policy year limit.

10. SUSPENSION

On discovery of a dangerous condition, the Company may immediately suspend this insurance on 

any machine, vessel or part thereof by giving written notice to the Insured. The suspended 

insurance may be reinstated by the Company. Any unearned premium resulting from such 

suspension will be returned by the Company.

11. TITLES

The titles in this Policy are only for reference. The titles do not in any way affect the provisions of 

this Policy.

12. ASSIGNMENT

Assignment of this Policy will not be valid except with the written consent of the Company.

13. DEFINITIONS

The following terms when appearing in boldface in this Policy mean:

actual cash value:

the amount it would cost to repair or replace insured property, on the date of loss, with material of 

like kind and quality, with proper deduction for obsolescence and physical depreciation.

aggregate during any policy year:

the Company’s maximum amount payable during any policy year.

communicable disease:

disease which is:

A. transmissible from human to human by direct or indirect contact with an affected individual 

or the individual’s discharges, or

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B. Legionellosis.

contaminant:

anything that causes contamination.

contamination:

any condition of property due to the actual or suspected presence of any foreign substance, 

impurity, pollutant, hazardous material, poison, toxin, pathogen or pathogenic organism, bacteria, 

virus, disease causing or illness causing agent, fungus, mold or mildew.

contingent time element location:

A. any location:

1) of a direct customer, supplier, contract manufacturer or contract service provider to the 

Insured;

2) of any company under a royalty, licensing fee or commission agreement with the 

Insured;

B. any location of a company that is a direct or indirect customer, supplier, contract 

manufacturer or contract service provider to a location described in A1 above,

not including locations of any company directly or indirectly supplying to, or receiving from, the 

Insured, electricity, fuel, gas, water, steam, refrigeration, sewage, voice, data or video.

date or time recognition:

the recognition, interpretation, calculation, comparison, differentiation, sequencing, accessing or 

processing of data involving one or more dates or times, including the Year 2000.

earth movement:

any natural or man-made earth movement including, but not limited to earthquake or landslide, 

regardless of any other cause or event contributing concurrently or in any other sequence of loss. 

However, physical loss or damage by fire, explosion, sprinkler leakage, or flood resulting from 

earth movement will not be considered to be loss by earth movement within the terms and 

conditions of this Policy.

electronic data processing equipment or media:

any computer, computer system or component, hardware, network, microprocessor, microchip, 

integrated circuit or similar devices or components in computer or non-computer equipment, 

operating systems, data, programs or other software stored on electronic, electro-mechanical, 

electro-magnetic data processing or production equipment, whether the property of the Insured or 

not.

fine arts:

paintings; etchings; pictures; tapestries; rare or art glass; art glass windows; valuable rugs; statuary; 

sculptures; antique furniture; antique jewelry; bric-a-brac; porcelains; and similar property of 

rarity, historical value, or artistic merit excluding automobiles, coins, stamps, furs, jewelry, 

precious stones, precious metals, watercraft, aircraft, money, securities.

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flood:

flood; surface waters; rising waters; storm surge, sea surge, wave wash; waves; tsunami; tide or 

tidal water; the release of water, the rising, overflowing or breaking of boundaries of natural or 

man-made bodies of water; or the spray therefrom; all whether driven by wind or not; or sewer 

back-up resulting from any of the foregoing; regardless of any other cause or event, whether 

natural or man-made, contributing concurrently or in any other sequence of loss. Physical loss or 

damage from flood associated with a storm or weather disturbance whether or not identified by 

name by any meteorological authority, is considered to be flood within the terms of this Policy. 

However, physical loss or damage by fire, explosion or sprinkler leakage resulting from flood is 

not considered to be loss by flood within the terms and conditions of this Policy.

Great Britain:

England and Wales and Scotland but not the territorial seas adjacent thereto as defined by the 

Territorial Sea Act 1987 nor the Isle of Man nor the Channel Islands.

high hazard zones for earth movement:

the provinces of Catamarca, Chaco, Cordoba, Formosa, Jujuy, La Rioja, Mendoza, Neuquen, Salta, 

San Juan, San Luis, Santiago del Estero and Tucuman in Argentina;

Bolivia;

Bosnia and Herzegovina;

Bulgaria;

Caribbean Islands of Aruba, Cayman Islands, Dominican Republic, Jamaica, The Commonwealth 

of Puerto Rico, and Trinidad and Tobago;

Chile;

Colombia;

Costa Rica;

Croatia;

Curacao;

Cyprus;

Ecuador;

El Salvador;

Greece;

Guam;

Guatemala;

Iceland;

the states of Arunachal Pradesh, Assam, Bihar, Gujarat, Himachal Pradesh, Madhya Pradesh, 

Manipur, Meghalaya, Tripura, Mizoram, Nagaland, Punjab, West Bengal, Uttar Pradesh and 

Uttaranchal in India;

Indonesia; 

Italy; 

Japan; 

Jordan; 

Monaco; 

New Zealand, North Island:

Bay of Plenty Regional Council (except Tauranga City Council and Western Bay of Plenty District 

Council), South Taranaki District Council, Gisborne District Council, Hawke's Bay Regional 

Council, Wellington Regional Council, Manawatu-Wanganui Regional Council (except Stratford 

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District Council and Waitomo District Council), Taupo District Council and Rotorua District 

Council;

New Zealand, South Island:

Tasman District Council, Marlborough District Council, West Coast Regional Council, Canterbury 

Regional Council (except for the District Councils of Mackenzie, Timaru, Waimate and Waitaki), 

Queenstown Lakes District Council, Southland Regional Council (except Gore District Council 

and Invercargill City Council); 

Nicaragua; 

Northern Pacific Islands of Federated States of Micronesia, Palau, Northern Marianas, Marshall 

Islands and Kiribati; 

Panama; 

People's Republic of China; 

Peru; 

Philippines; 

the states of Baja California, Baja California Sur, Chiapas, Colima, Guerrero, Jalisco, Mexico 

(including Mexico City), Michoacan, Morelos, Nayarit, Oaxaca, Puebla, Sinaloa, Sonora, Tabasco, 

Tlaxcala and Veracruz in the Republic of Mexico; 

Romania; 

the Republic of Dagestan and the oblasts of Kamchatka and Sakhalin in the Russian Federation;

Serbia; 

the provinces of Granada and Murcia in Spain; 

Southern Pacific Islands of American Samoa, Loyalty Islands, French Polynesia, New Caledonia, 

Solomon Islands, Samoa, Tonga, Tuvalu and Vanuatu; 

Taiwan; 

Turkey; and 

Alaska, California, Hawaii and Nevada in the United States of America

irreplaceable:

an item which cannot be replaced with other of like kind and quality.

location:

A. as specified in the Schedule of Locations, or

B. if not so specified in the Schedule of Locations:

1) a building, yard, dock, wharf, pier or bulkhead (or any group of the foregoing),

a) bounded on all sides by public streets, clear land space or open waterways, each not 

less than 50 feet/15 metres wide. Any bridge or tunnel crossing such street, space or 

waterway will render such separation inoperative for the purpose of this definition.

New Madrid Seismic Zone:

Arkansas, United States of America, counties of:

Arkansas, Clay, Craighead, Crittenden, Cross, Fulton, Greene, Independence, Izard, Jackson, 

Lawrence, Lee, Lonoke, Mississippi, Monroe, Phillips, Poinsett, Prairie, Randolph, Sharp, St. 

Francis, White, Woodruff

Illinois, United States of America, counties of:

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Alexander, Bond, Clay, Clinton, Crawford, Edwards, Effingham, Fayette, Franklin, Gallatin, 

Hamilton, Hardin, Jackson, Jasper, Jefferson, Johnson, Lawrence, Madison, Marion, Massac, 

Monroe, Perry, Pope, Pulaski, Randolph, Richland, Saline, St. Clair, Union, Wabash, Washington, 

Wayne, White, Williamson

Indiana, United States of America, counties of:

Gibson, Knox, Pike, Posey, Spencer, Vanderburgh, Warrick

Kentucky, United States of America, counties of:

Ballard, Caldwell, Calloway, Carlisle, Christian, Crittenden, Daviess, Fulton, Graves, Henderson, 

Hickman, Hopkins, Livingston, Lyon, Marshall, McCracken, McLean, Muhlenberg, Todd, Trigg, 

Union, Webster

Mississippi, United States of America, counties of:

Alcorn, Benton, Coahoma, De Soto, Lafayette, Marshall, Panola, Quitman, Tate, Tippah, Tunica

Missouri, United States of America, counties of:

Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Jefferson, Madison, Mississippi, New 

Madrid, Oregon, Pemiscot, Perry, Reynolds, Ripley, Scott, Shannon, St. Francois, St. Louis, City 

of St. Louis, Ste. Genevieve, Stoddard, Washington, Wayne

Tennessee, United States of America, counties of:

Benton, Carroll, Chester, Crockett, Decatur, Dyer, Fayette, Gibson, Hardeman, Hardin, Haywood, 

Henderson, Henry, Houston, Humphreys, Lake, Lauderdale, Madison, McNairy, Montgomery, 

Obion, Perry, Shelby, Stewart, Tipton, Weakley

normal:

the condition that would have existed had no physical loss or damage happened.

normal cost:

the cost associated with the movement of goods or materials suffering the disruption that the 

Insured would have incurred had no physical loss or damage causing disruption happened.

occurrence:

the sum total of all loss or damage of the type insured, including any insured TIME ELEMENT 

loss, arising out of or caused by one discrete event of physical loss or damage, except as respects 

the following:

A. terrorism: occurrence shall mean the sum total of all loss or damage of the type insured, 

including any insured TIME ELEMENT loss, arising out of or caused by all acts of 

terrorism during a continuous period of seventy-two (72) hours.

B. earth movement: occurrence shall mean the sum total of all loss or damage of the type 

insured, including any insured TIME ELEMENT loss, arising out of or caused by all earth 

movement(s) during a continuous period of seventy-two (72) hours.

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off-premises data processing or data transmission services:

the storage or processing of data performed off-premises of the Insured’s property, including the 

transmission of voice, data or video over a single, or combination of, computer or communication 

networks.

Pacific Northwest Seismic Zone:

Oregon, United States of America, counties of:

Benton, Clackamas, Clatsop, Columbia, Coos, Curry, Douglas, Hood River, Jackson, Josephine, 

Klamath, Lane, Lincoln, Linn, Marion, Multnomah, Polk, Tillamook, Washington, Yamhill

Washington, United States of America, counties of:

Chelan, Clallam, Clark, Cowlitz, Grays Harbor, Island, Jefferson, King, Kitsap, Kittitas, Lewis,

Mason, Pacific, Pierce, San Juan, Skagit, Skamania, Snohomish, Thurston, Wahkiakum, Whatcom

British Columbia (includes Vancouver Island), Canada:

South of 50° N latitude and west of 120° W longitude

period of operational testing:

the period of time beginning 24 hours prior to the earlier of the following:

A. introduction, into a system, of feedstock or other materials for processing or handling;

B. commencement of fuel or energy supply to a system,

and ending with the earlier of the following:

A. the expiration date or cancellation date of this Policy.

B. if specified, the number of consecutive days shown in the LIMITS OF LIABILITY clause in 

the DECLARATIONS section.

physical loss or damage to electronic data, programs or software:

the destruction, distortion or corruption of electronic data, programs or software.

representative company(ies):

Factory Mutual Insurance Company, FM Insurance Company Limited or FM Insurance Europe 

S.A.; Affiliated FM Insurance Company; Appalachian Insurance Company or any other company 

issuing a local policy at the direction of the Company.

soft costs:

costs over and above those that are normal at an insured location undergoing renovation or in the 

course of construction, limited to the following:

A. construction loan fees - the additional cost incurred to rearrange loans necessary for the 

completion of construction, repairs or reconstruction including; the cost to arrange 

refinancing, accounting work necessary to restructure financing, legal work necessary to 

prepare new documents, charges by the lenders for the extension or renewal of loans 

necessary.

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B. commitment fees, leasing and marketing expenses - the cost of returning any commitment 

fees received from prospective tenant(s) or purchaser(s), the cost of re-leasing and marketing 

due to loss of tenant(s) or purchaser(s).

C. additional fees for architects, engineers, consultants, attorneys and accountants needed for 

the completion of construction, repairs or reconstruction.

D. property taxes, building permits, additional interest on loans, realty taxes and insurance 

premiums.

terrorism:

any act, involving the use or threat of: force, violence, dangerous conduct, interference with the 

operations of any business, government or other organization or institution, or any similar act,

when the effect or apparent purpose is:

A. to influence or instill fear in any government (de jure or de facto) or the public, or any 

segment of either; or

B. to further or to express support for, or opposition to, any political, religious, social, 

ideological or similar type of objective or position.

transmission and distribution systems:

transmission and distribution systems including but not limited to electricity, gas, fuel, steam, 

water, refrigeration, sewerage, voice, data, and video. Such systems shall include poles, towers and 

fixtures, overhead conductors and devices, underground and underwater conduit, underground and 

underwater conductors and devices, line transformers, service meters, street lighting and signal 

systems.

valuable papers and records:

written, printed or otherwise inscribed documents and records, including books, maps, films, 

drawings, abstracts, deeds, mortgages and manuscripts, all of which must be of value to the 

Insured.

wind:

direct action of wind including substance driven by wind. Wind does not mean or include 

anything defined as flood in this Policy.

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SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

AU13 Sims Metal - ACT 47 Alderson Avenue Hume 

ATC

Hume Australian 

Capital Territory

2620 Australia

AU74 Sims Metal - NSW 72 Burrows Rd Alexandria New South Wales 2015 Australia

AU71 32-34 Lord St, Level 2 Botany New South Wales 2019 Australia

AU70 Sims Metal - NSW 8-10 Lawson St East Wagga 

Wagga

New South Wales 2650 Australia

AU23 Sims Metal - NSW Lot 2 Kembla Grange Rd Kembla Grange New South Wales 2530 Australia

AU68 AUR619.00-01 Sims Metal - NSW 43 Ashford Avenue Milperra New South Wales 2214 Australia

AU7 Sims Metal - NSW 31 Strathmore Rd Muswellbrook New South Wales 2333 Australia

AU16 AU3669.00-03 Sims Metal - NSW Cormorant Rd, Kooragang 

Island

Newcastle New South Wales 2300 Australia

AU20 Sims Metal - VIC 445 Panmure St South Albury New South Wales 2640 Australia

AU2 AUR040.00-02 Sims Metal - NSW 76 Christie St St Marys New South Wales 2760 Australia

72 Christie St

AU11 Sims Metal - NSW Site 20, Craft Close Toormina New South Wales 2452 Australia

AU52 AU4087.00-09 Sims E-Recycling Aus 82 Marple Avenue Villawood New South Wales 2163 Australia

AU9 Sims Metal - NSW 352 Manns Rd West Gosford New South Wales 2250 Australia

AU72 Sims Metal - NT 35 McKinnon Rd & 22 Hardy 

Rd

Pinelands Northern 

Territory

0829 Australia

AU54 Sims E-Recycling Aus 5 Hurricane St Banyo Queensland 4014 Australia

AU30 AUS281.00-01 Sims Metal - QLD 13 Bensted Rd Callemondah Queensland 4680 Australia

AU32 Sims Metal - QLD Lots 12 & 13, Page St Kunda Park Queensland 4556 Australia

AU31 AUS282.00-01 Sims Metal - QLD Spiller Avenue, Outer Harbour Mackay Queensland 4740 Australia

AU5 Sims Metal - QLD 11 Hope St Nerang Queensland 4211 Australia

5 Lawson St

AU27 AUR733.00-01 Sims Metal - QLD 48 Crockford St Northgate Queensland 4013 Australia

AU28 Sims Metal - QLD 26 Comport St Portsmith Queensland 4870 Australia

AU03 AUR657.00-01 Sims Metal - QLD 148 Dunn Rd Rocklea Queensland 4106 Australia

AU29 AUS283.00-01 Sims Metal - QLD 98 Hubert St Townsville Queensland 4810 Australia

AU37 Sims Metal - SA 7 Cooroora Crescent Lonsdale South Australia 5160 Australia

AU35 Sims Metal - SA Lot 45, Leitch Rd Roseworthy South Australia 5371 Australia

AU34 AUR734.00-01 Sims Metal - SA N Arm Rd Wingfield South Australia 5013 Australia

AU78 14 Johansson Rd Wingfield South Australia 5013 Australia

AU22 Sims Metal - TAS Mobil Rd Bell Bay Tasmania 7253 Australia

AU25 Sims Metal - TAS 10-16 Lindsay St Invermay Tasmania 7248 Australia

Page 1 of 11

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SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

AU1 AUR735.00-01 Sims Metal - VIC 1904 Hume Highway Broadmeadows Victoria 3047 Australia

AU14 AUR736.00-01 Sims Metal - VIC 44-60 McDonald Rd Brooklyn Victoria 3012 Australia

AU73 Sims E-Recycling Aus 61-63 Nantilla Rd Clayton Victoria 3168 Australia

AU18 AUS284.00-01 Sims Metal - VIC 442 Princes Highway Noble Park 

North

Victoria 3174 Australia

AU17 AUR288.00-02 Sims Metal - VIC 266 Thompson Rd North Geelong Victoria 3215 Australia

AU19 Sims Metal - VIC 45 Wells Rd Seaford Victoria 3198 Australia

AU21 Sims Metal - VIC 70-76 Eastern Rd Traralgon Victoria 3844 Australia

AU40 AUR739.00-01 Sims Metal - WA 200 Barrington St Bibra Lake Western Australia 6163 Australia

AU41 AUR737.00-01 Sims Metal - WA 2526 Coolawanyah Rd Karratha Western Australia 6714 Australia

AU67 AUJ994.00-02 Sims Metal - WA Lot 100, Donaldson Rd Kwinana Beach Western Australia 6167 Australia

AU77 AUS934.00-01 Sims Metal - WA 447 Victoria Rd Malaga Western Australia 6090 Australia

AU47 Sims Metal - WA 52 Gawthorne Drive Millars Well Western Australia 6714 Australia

AU76 Sims Metal - WA 282 Norseman Rd Myrup Western Australia 6450 Australia

AU3 AUR740.00-01 Sims Metal - WA 15 Peawah St Wedgefield Western Australia 6721 Australia

Corner of Peawah & 

Moorambine St

AU45 Sims Metal - WA 151 Welshpool Rd Welshpool Western Australia 6106 Australia

AA01 AA1419.00-01 SRS AUT Industriestrasse 2 Müllendorf 7052 Austria

BE01 BE1061.00-02 SRS BEL Europark-Noord 32 Sint-Niklaas Oost-Vlaanderen 9100 Belgium

CZ01 SRS CZCH Hviezdoslavova 53c Brno 627 00 Czech Republic

GE02 GEA487.00-02 SRS GER Im Weiherfeld 25 GinsheimGustavsburgHessen 65462 Germany

GE01 GEE440.00-01 SRS GER 10 Rathenaustr Bergkamen NordrheinWestfalen59192 Germany

NL01 NE5475.00-01 SRS NL Hastelweg 251 Eindhoven Noord Brabant 5652 CV Netherlands

NL02 NE5476.00-01 SRS NL Waarderweg 60 Haarlem Noord Holland 2031 BP Netherlands

NZ73 Sims E-Recycling NZ 69 Aintree Avenue, Mangere Auckland Auckland 2022 New Zealand

NZ01 NZ3107.00-01 Sims Pacific Metals Ltd Cnr Manu & Kahu St Otahuhu Auckland 2024 New Zealand

NZ02 NZ3019.00-01 Sims Pacific Metals Ltd 263 James Fletcher Drive Otahuhu Auckland 2024 New Zealand

NZ06 NZ3020.00-01 Sims Pacific Metals Ltd 48 Wickham St Christchurch Canterbury 8062 New Zealand

NZ04 Sims Pacific Metals Ltd 5 Angus Pl Napier Hawkes Bay 4110 New Zealand

NZ08 Sims Pacific Metals Ltd 2 & 6 Merton Pl Annesbrook Nelson 7011 New Zealand

NZ07 Sims Pacific Metals Ltd 5 Wharf St Dunedin Otago 9016 New Zealand

Page 2 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 98 of 119 PageID #:103
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

NZ09 Sims Pacific Metals Ltd 147 Mersey St Invercargill Southland 9810 New Zealand

NZ03 Sims Pacific Metals Ltd 38A Northway St Hamilton Waikato 3200 New Zealand

NZ05 Sims Pacific Metals Ltd 14 Barnes St Seaview Wellington 5010 New Zealand

NO01 NO1193.00-01 SRS NOR Greåkerveien 23 Greåker Østfold 1718 Norway

PL01 SRS POL Lakowa 79 Bydgoszcz 85-463 Poland

SI01 Loyang Offshore Supply Base 25B Loyang Crescent Singapore 506817 Singapore

SW01 SW3119.00-01 SRS SWE Karosserigatan 6 Katrineholm 641 51 Sweden

UE01 SRS UAE Jebel Ali Free Zone, PO Box 

262843

Dubai United Arab 

Emirates

U2 UKM038.00-01 UK Metals Royal Edward Dock Bristol Avon BS11 9BT United Kingdom

UK48 UKM037.00-01 UK Metals Gatton Rd Bristol Avon BS2 9SH United Kingdom

UK08 UKM039.00-01 UK Metals Fourth Drove Peterborough Cambridgeshire PE1 5UR United Kingdom

UK49 UKM040.00-01 SRS UK Northend Rd Stalybridge Cheshire SK15 3AZ United Kingdom

UK43 UK0842.00-02 SRS UK Macklin Avenue, Cowpen Lane 

Industrial Estate

Billingham Cleveland TS23 4BY United Kingdom

UK09 UKM041.00-01 UK Metals Windermere Rd Hartlepool Cleveland TS25 1NX United Kingdom

UK34 UK Metals 8 Lucknow Rd Bodmin Cornwall PL31 1EZ United Kingdom

U56 UK Metals Foundry Rd Camborne Cornwall TR14 7XB United Kingdom

UK1 UK2275.00-03 UK Metals Birchwood Lane, Somercotes Alfreton Derbyshire DE55 4NE United Kingdom

UK4 UKM042.00-01 UK Metals Mansfield Rd Derby Derbyshire DE21 

4AW

United Kingdom

UK6 UK9420.00-02 UK Metals 7 Christow Rd, Marsh Barton 

Trading Estate

Exeter Devon EX2 8QT United Kingdom

UK41 UK Metals Sutton Rd Plymouth Devon PL4 0HN United Kingdom

UK50 UK7118.00-02 SRS UK Lochside Industrial Estate, 

Irongray Rd

Dumfries Dumfriesshire DG2 0NR United Kingdom

UK51 UKM044.00-01 UK Metals Cross Hands Rd, Gorslas Llanelli Dyfed SA14 6RR United Kingdom

UK30 UK Metals Speculation Rd, Forest Vale 

Industrial Estate

Cinderford Gloucestershire GL14 3JA United Kingdom

UK7 UK1646.00-02 UK Metals North Side, South Dock, 

Alexandra Docks

Newport Gwent NP20 2NQ United Kingdom

UK35 UK Metals Stubbs Industrial Estate, 

Hollybush Lane

Aldershot Hampshire GU11 2PX United Kingdom

UK44 UKM045.00-01 UK Metals Vigo Lane Yateley Hampshire GU46 6ED United Kingdom

UK59 UK Metals Sheerness Docks Sheerness Kent ME12 1RS United Kingdom

UK20 UK Metals Bridge St Bury Lancashire BL9 6HH United Kingdom

UK57 UKN629.00-01 UK Metals Rondin Rd Manchester Lancashire M12 6BF United Kingdom

UK25 UK Metals George St Lincoln Lincolnshire LN5 8LG United Kingdom

UK36 UK Metals Dock Rd, Garston Liverpool Merseyside L19 2JW United Kingdom

Page 3 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 99 of 119 PageID #:104
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

U1 UKD877.00-02 UK Metals 10 Quay West, Queen Elizabeth 

Dock

Hull North 

Humberside

HU9 5PB United Kingdom

Queen Elizabeth Dock

UK65 UK Metals 76 Harrow St Hull North 

Humberside

HU3 4LB United Kingdom

UK66 UKP260.00-01 UK Metals Reservoir Rd Hull North 

Humberside

HU6 7QH United Kingdom

UK54 UKM047.00-01 UK Metals Harrimans Lane, Lenton Lane 

Industrial Estate

Nottingham Nottinghamshire NG7 2SD United Kingdom

UK19 UK Metals Priory Way Taunton Somerset TA1 2BB United Kingdom

UK40 UK Metals 122-128 E Moors Rd Cardiff South Glamorgan CF24 5EE United Kingdom

UK55 UK Metals Unit 6, Martin Rd, Tremorfa 

Industrial Estate, Tremorfa

Cardiff South Glamorgan CF24 5SD United Kingdom

UK71 UK Metals Boulder Bridge, Shaw Lane, 

Carlton

Barnsley South Yorkshire S71 3HJ United Kingdom

UK5 UK Metals Hillbrook Works, Ulley Lane, 

Aston

Sheffield South Yorkshire S26 2DR United Kingdom

UK26 UK Metals Paget St Burton-on-Trent Staffordshire DE14 3TQ United Kingdom

UK70 UK Metals Soudal House Unit, 1 Centurion 

Park, Watling St, Wilneco

Tamworth Staffordshire B77 5PN United Kingdom

UK39 UK Metals West Bank Terminal, 

Wherstead Rd

Ipswich Suffolk IP2 8NB United Kingdom

UK3 UKM048.00-01 Home Office Long Marston Stratford-uponAvonWarwickshire CV37 8AQ United Kingdom

UK Metals

UK45 UKM049.00-01 UK Metals Neath Abbey Wharf, Skewen Neath West Glamorgan SA10 6BL United Kingdom

UK32 UK Metals Landor St Birmingham West Midlands B8 1AE United Kingdom

UK33 UK Metals James Scott Rd Halesowen West Midlands B63 2QT United Kingdom

UK02 UKM051.00-01 UK Metals Anne Rd Smethwick West Midlands B66 2NZ United Kingdom

UK53 UKM052.00-01 UK Metals Rabone Lane Smethwick West Midlands B66 2LF United Kingdom

UK61 UK Metals Lock Lane Castleford West Yorkshire WF10 2JU United Kingdom

UK62 UK Metals Albion St Dewsbury West Yorkshire WF13 2AJ United Kingdom

UK64 UK Metals Back Chapel Lane Huddersfield West Yorkshire HD5 9BG United Kingdom

UK63 UK Metals Treefield Industrial Estate, 

Gelderd Rd, Gildersome, Morle

Leeds West Yorkshire LS27 7JU United Kingdom

UK67 UK Metals Pepper Rd Leeds West Yorkshire LS10 2RU United Kingdom

UK68 UK Metals 109 Albert Rd, Morley Leeds West Yorkshire LS27 8RU United Kingdom

UK69 UK Metals Dam Top Works Ripponden West Yorkshire HX6 4DL United Kingdom

UK29 UK Metals Hewell Rd Redditch Worcestershire B97 6AN United Kingdom

207 Tennessee Valley Recycling 

LLC

16954 US Highway 72 Athens Alabama 35611-

7368

United States of 

America

Page 4 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 100 of 119 PageID #:105
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

208 Tennessee Valley Recycling 

LLC

1300 Highway 20 Decatur Alabama 35601-

7504

United States of 

America

212 Tennessee Valley Recycling 

LLC

2800 Highway 31 SW Hartselle Alabama 35640-

2868

United States of 

America

209 Tennessee Valley Recycling 

LLC

606 Triana Boulevard NW Huntsville Alabama 35805-

2810

United States of 

America

01 003117.81-01 SMM Gulf Coast LLC 1300 Conception Street Rd Mobile Alabama 36610-

4748

United States of 

America

171 SA Recycling 430 Air Base Boulevard Montgomery Alabama 36108-

2202

United States of 

America

156 003286.19-01 SA Recycling 309 State Docks Rd Phenix City Alabama 36869-

7613

United States of 

America

211 Tennessee Valley Recycling 

LLC

17244 Highway 43 Russellville Alabama 35654-

6013

United States of 

America

210 Tennessee Valley Recycling 

LLC

700 W 20th Avenue Sheffield Alabama 35660-

2552

United States of 

America

110 SA Recycling 12 W Southern Avenue Mesa Arizona 85210-

5207

United States of 

America

119 SA Recycling 1530 E Broadway Rd Phoenix Arizona 85040-

2310

United States of 

America

160 SA Recycling 3210 S 19th Avenue Phoenix Arizona 85009-

6924

United States of 

America

166 003286.29-01 SA Recycling 3640 S 35th Avenue Phoenix Arizona 85009-

6738

United States of 

America

169 SA Recycling 400 S 15th Avenue Phoenix Arizona 85007-

3399

United States of 

America

89 089402.70-02 Sims Recycling Solutions, Inc 820 S Euclid Avenue Tucson Arizona 85719-

6627

United States of 

America

118 003336.73-01 SA Recycling 1525 W Miracle Mile Tucson Arizona 85705-

9323

United States of 

America

201 3147 E Ajo Way Tucson Arizona 85713-

5225

United States of 

America

206 SA Recycling 3147 E Ajo Way Tucson Arizona 85713-

5225

United States of 

America

162 SA Recycling 3350 E 32nd St Yuma Arizona 85365-

7508

United States of 

America

02 Schiabo Larovo Corporation 9900 Industrial Harbor Rd Little Rock Arkansas 72206-

3837

United States of 

America

158 003286.30-01 SA Recycling 3200 E Frontera St Anaheim California 92806-

2812

United States of 

America

3250 E Frontera St 92806-

2822

135 003336.74-01 SA Recycling 2000 E Brundage Lane Bakersfield California 93307-

2734

United States of 

America

178 003423.46-01 SA Recycling 48100 Harrison St Coachella California 92236-

1214

United States of 

America

189 003423.47-01 SA Recycling 790 E M St Colton California 92324-

3910

United States of 

America

147 003499.08-01 SA Recycling 2495 Buena Vista St Duarte California 91010-

3330

United States of 

America

176 003423.48-01 SA Recycling 460 E Holton Rd El Centro California 92243-

9444

United States of 

America

111 003423.49-01 SA Recycling 12301 & 12351 E Valley 

Boulevard

El Monte California 91732-

3603

United States of 

America

Page 5 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 101 of 119 PageID #:106
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

122 003286.31-01 SA Recycling 15615 Arrow Boulevard Fontana California 92335-

3253

United States of 

America

164 003423.51-01 SA Recycling 3489 S Chestnut Avenue Fresno California 93725-

2699

United States of 

America

129 003286.32-01 SA Recycling 16801 S Main St Gardena California 90248-

3121

United States of 

America

11 003154.48-01 Sims Group USA Corporation 30104 Industrial Pkwy SW Hayward California 94544-

6906

United States of 

America

109 003423.52-01 SA Recycling 10651 E Avenue Hesperia California 92345-

5114

United States of 

America

174 003423.53-01 SA Recycling 45565 Division St Lancaster California 93535-

1841

United States of 

America

143 003408.24-01 SA Recycling 22606 S Alameda St Long Beach California 90810-

1996

United States of 

America

179 076774.60-61 SA Recycling 482 Pier T Avenue Long Beach California 90802-

6209

United States of 

America

108 003423.55-01 SA Recycling 10313 S Alameda St Los Angeles California 90002-

3800

United States of 

America

131 SA Recycling 1715 E Martin Luther King Jr 

Boulevard

Los Angeles California 90058-

1522

United States of 

America

141 003244.71-01 SA Recycling 2104 & 2047 E 15th St Los Angeles California 90021-

2822

United States of 

America

148 076731.47-03 SA Recycling 2728, 3248 & 3312 Long Beach 

Avenue E

Los Angeles California 90058-

1304

United States of 

America

120 089513.68-02 SA Recycling 1545 Gage Rd Montebello California 90640-

6631

United States of 

America

170 003422.91-01 SA Recycling 41400 Date St Murrieta California 92562-

7094

United States of 

America

146 SA Recycling 2411 N Glassell St Orange California 92865-

2717

United States of 

America

116 003423.56-01 SA Recycling 1441 Mountain View Avenue Oxnard California 93030-

5106

United States of 

America

181 SA Recycling 521 N Rice Avenue Oxnard California 93030-

8924

United States of 

America

183 003423.57-01 SA Recycling 5815 Stockdale Rd Paso Robles California 93446-

9658

United States of 

America

117 003423.63-01 SA Recycling 1475 E Franklin Avenue and 

11630 E End Avenue

Pomona California 91766-

5453

United States of 

America

05 076173.48-02 Sims Group USA Corporation 11320 Dismantle Court Rancho Cordova California 95742-

6816

United States of 

America

06 003105.56-01 SGUSA 699 Seaport Boulevard Redwood City California 94063-

2712

United States of 

America

Sims Group USA Corporation

07 076238.08-03 Sims Group USA Corporation 600 S 4th St Richmond California 94804-

3504

United States of 

America

08 Sims Group USA Corporation 845 Marina Bay Pkwy Ste 2 Richmond California 94804-

6420

United States of 

America

83 076168.56-05 Sims Recycling Solutions, Inc 8855 Washington Boulevard Roseville California 95678-

5935

United States of 

America

09 003154.49-01 Sims Group USA Corporation 130 N 12th St Sacramento California 95811-

0615

United States of 

America

155 076802.70-04 SA Recycling 3055 Commercial St San Diego California 92113-

1496

United States of 

America

Page 6 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 102 of 119 PageID #:107
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

159 003423.59-01 SA Recycling 3202 Main St San Diego California 92113-

3719

United States of 

America

10 003117.82-01 Sims Group USA Corporation 1720 Monterey Highway San Jose California 95112-

6114

1726 Monterey Highway

1800 Monterey Highway 95112-

6116

1900-1930 Monterey Highway 95112-

6100

195 076763.90-02 SA Recycling 901 New Dock St San Pedro California 90731-

7598

United States of 

America

136 003373.31-01 SA Recycling 2002-2006 W 5th St Santa Ana California 92703-

2897

United States of 

America

123 003423.60-01 SA Recycling 1599 E Betteravia Rd Santa Maria California 93454-

9647

United States of 

America

112 003422.92-01 SA Recycling 12428 Center St South Gate California 90280-

8058

United States of 

America

13 003154.50-01 Sims Group USA Corporation 1000 S Aurora St Stockton California 95206-

1604

United States of 

America

192 003423.61-01 SA Recycling 8250 Tujunga Avenue Sun Valley California 91352-

3932

United States of 

America

198 003373.32-01 SA Recycling 9754 San Fernando Rd Sun Valley California 91352-

1424

United States of 

America

152 003423.62-01 SA Recycling 29250 Rio del Sol Thousand Palms California 92276-

2603

United States of 

America

101 003526.12-01 SA Recycling 2525 S K St Tulare California 93274-

6875

United States of 

America

14 SMM New England 

Corporation

263 Locust St Hartford Connecticut 06114-

2008

United States of 

America

15 SMM New England 

Corporation

808 Washington Avenue New Haven Connecticut 06519-

1825

United States of 

America

16 019631.39-06 SMM New England 

Corporation

234 Universal Drive North Haven Connecticut 06473-

3694

United States of 

America

17 Simsmetal East LLC 640 Canal St Stamford Connecticut 06902-

5904

United States of 

America

88 084452.48-17 Sims Recycling Solutions, Inc 5806 N 53rd St Tampa Florida 33610-

4817

United States of 

America

115 083878.38-02 SA Recycling 1359 Central Avenue Atlanta Georgia 30344-

4973

United States of 

America

150 003286.33-01 SA Recycling 2800 Amwiler Rd Atlanta Georgia 30360-

2804

United States of 

America

197 SA Recycling 960 Molly Pond Rd Augusta Georgia 30901-

3718

United States of 

America

151 SA Recycling 281 Brennan Rd Columbus Georgia 31903-

2192

United States of 

America

144 SA Recycling 2314 Dogwood Drive SE Conyers Georgia 30013-

1535

United States of 

America

193 SA Recycling 859 Athens St Gainesville Georgia 30501-

4867

United States of 

America

182 003286.34-01 SA Recycling 530 Seaboard Industrial Drive Lawrenceville Georgia 30046-

4670

United States of 

America

163 SA Recycling 11140 Veterans Memorial 

Highway

Lithia Springs Georgia 30122-

1600

United States of 

America

United States of 

America

Page 7 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 103 of 119 PageID #:108
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

173 SA Recycling 4460 Broadway Macon Georgia 31206-

2055

United States of 

America

157 SA Recycling 317 Marble Mill Rd NW Marietta Georgia 30060-

1037

United States of 

America

133 003286.35-01 SA Recycling 1882 Mitchell Rd Norcross Georgia 30071-

3210

United States of 

America

177 SA Recycling 4614 New Calhoun Highway 

NE

Rome Georgia 30161-

9632

United States of 

America

106 003286.36-01 SA Recycling 100 Sonny Perdue Drive Savannah Georgia 31408-

8073

United States of 

America

214 355 N Lathrop Avenue Savannah Georgia 31415-

1025

United States of 

America

196 SA Recycling 9013 US Highway 301 S Statesboro Georgia 30458-

3191

United States of 

America

18 Schiabo Larovo Corporation 6660 S Nashville Avenue Chicago Illinois 60638-

4910

United States of 

America

24 Metal Management Midwest, 

Inc

3151 S California Avenue Chicago Illinois 60608-

5111

United States of 

America

26 Metal Management, Inc 325 N La Salle Drive Ste 550 Chicago Illinois 60654-

8359

United States of 

America

27 Metal Management Midwest, 

Inc

350 N Artesian Avenue Chicago Illinois 60612-

2118

United States of 

America

199 200 W Madison St Ste 3600 Chicago Illinois 60606-

3491

United States of 

America

23 003117.84-01 Metal Management Midwest, 

Inc

2305 S Paulina St Chicago Illinois 60608-

5327

United States of 

America

2500 S Paulina St 60608-

5389

2550 S Paulina St 60608-

5307

2600 N Paulina St 60614-

1018

2345 S Wood St 60608-

5305

2451 S Wood St 60608-

5312

2455 S Laflin St 60608-

5005

25 Metal Management Midwest, 

Inc

3200 E 96th St Chicago Illinois 60617-

5037

United States of 

America

97 Metal Management Midwest, 

Inc

9331 S Ewing Avenue Chicago Illinois 60617-

4641

United States of 

America

82 064250.80-03 Sims Recycling Solutions, Inc 3700 Runge St Franklin Park Illinois 60131-

1185

United States of 

America

81 064411.24-42 Sims Recycling Solutions, Inc 1600 Harvester Rd West Chicago Illinois 60185-

1618

United States of 

America

32 Metal Management Indiana, Inc 5137 Indianapolis Boulevard East Chicago Indiana 46312-

3857

United States of 

America

30 Metal Management Indiana, Inc 3601 Canal St East Chicago Indiana 46312-

1605

United States of 

America

31 003154.51-01 Metal Management Indiana, Inc 425 W 152nd St East Chicago Indiana 46312-

3847

United States of 

America

35 Simsmetal East LLC 1575 Sparrows Point Boulevard Sparrows Point Maryland 21219-

1029

United States of 

America

Page 8 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 104 of 119 PageID #:109
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

34 SMM New England 

Corporation

267 Granite St Worcester Massachusetts 01607-

1219

United States of 

America

39 SMM Gulf Coast LLC 12360 Hickman Rd Biloxi Mississippi 39532-

9430

United States of 

America

47 SMM Gulf Coast LLC 9624 Pinecrest St Vancleave Mississippi 39565-

9112

United States of 

America

130 SA Recycling 1701 Western Avenue Las Vegas Nevada 89102-

2615

United States of 

America

149 SA Recycling 2780 N Nellis Boulevard Las Vegas Nevada 89115-

4507

United States of 

America

184 003336.75-01 SA Recycling 5850 N Nellis Boulevard Las Vegas Nevada 89115-

2407

United States of 

America

186 SA Recycling 6351 Vegas Valley Drive Las Vegas Nevada 89142-

3502

United States of 

America

167 SA Recycling 3870 Losee Rd North Las Vegas Nevada 89030-

3307

United States of 

America

62 Sims Group USA Corporation 1655 Franklin Way Sparks Nevada 89431-

6549

United States of 

America

52 Simsmetal East LLC 1900 Federal St Camden New Jersey 08105-

1818

United States of 

America

53 002098.37-03 Simsmetal East LLC 1 Linden Avenue Jersey City New Jersey

Sims Group USA Holdings 

Corporation

SME Claremont Terminal

Simsmetal East LLC 3 Linden Avenue

12 Simsmetal East LLC 72-78 Roanoke Avenue Newark New Jersey 07105-

4397

United States of 

America

56 000740.68-02 Simsmetal East LLC 182 Calcutta St Newark New Jersey 07114-

3332

United States of 

America

57 003154.56-01 Simsmetal East LLC 252-254 Doremus Avenue Newark New Jersey 07105-

4897

United States of 

America

59 Simsmetal East LLC 8-18 Noble St Newark New Jersey 07114-

1320

United States of 

America

60 003117.88-01 Simsmetal East LLC 20-26 Richards St Newark New Jersey 07105-

3705

Schiabo Larovo Corporation

54 Simsmetal East LLC 1580 Hurffville Rd Sewell New Jersey 08080-

4270

United States of 

America

61 Simsmetal East LLC 1519 Calhoun St Trenton New Jersey 08638-

4019

United States of 

America

98 Simsmetal East LLC 140 S Port Rd Albany New York 12202-

1063

United States of 

America

Port Albany Ventures LLC

22 New York Recycling Ventures, 

Inc

1340 E Bay Avenue Bronx New York 10474-

7027

United States of 

America

65 Sims Municipal Recycling of 

New York LLC

850 Edgewater Rd Bronx New York 10474-

4987

United States of 

America

Simsmetal East LLC

66 003105.57-01 SMR 30th Street - Pier 472-490 30th St Brooklyn New York 11232-

1731

United States of 

America

United States of 

America

United States of 

America

07305-

4722

Page 9 of 11

FILED DATE: 4/24/2020 2:23 PM 2020CH03970

Case: 1:20-cv-03202 Document #: 1-1 Filed: 05/29/20 Page 105 of 119 PageID #:110
SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

67 Simsmetal East LLC 428 Harris Rd Ferndale New York 12734-

5125

United States of 

America

92 Simsmetal East LLC 167 W River Rd Frankfort New York 13340-

5032

United States of 

America

58 Sims Municipal Recycling of 

New York LLC

30-27 Greenpoint Avenue Long Island City New York 11101-

2009

United States of 

America

Simsmetal East LLC

205 Simsmetal East LLC 820 Route 211 E Middletown New York 10941-

1442

United States of 

America

93 Sims Group USA Holdings 

Corporation

16 W 22nd St Fl 10 New York New York 10010-

5967

United States of 

America

215 555 Theodore Fremd Avenue 

Ste C300

Rye New York 10580-

1455

United States of 

America

50 002256.50-02 SMM Southeast LLC 2912 Neuse Boulevard New Bern North Carolina 28560-

2858

United States of 

America

51 SMM Southeast LLC 1254 US Highway 258 N Tarboro North Carolina 27886-

9436

United States of 

America

40 Metal Management Ohio, Inc 27063 State Route 281 Defiance Ohio 43512-

8963

United States of 

America

94 Proler Southwest Corporation 98 N 321st East Avenue Catoosa Oklahoma 74015-

6430

United States of 

America

204 Proler Southwest Corporation 6414 S Eastern Avenue Oklahoma City Oklahoma 73149-

5134

United States of 

America

63 Proler Southwest Corporation 2205 Industrial Rd Sapulpa Oklahoma 74066-

8604

United States of 

America

64 Proler Southwest Corporation 2300 N Lewis Avenue Tulsa Oklahoma 74110-

2120

United States of 

America

103 358 River Rd Bridgeport Pennsylvania 19405-

1735

United States of 

America

73 003117.89-01 Simsmetal East LLC 300 Steel Rd S Morrisville Pennsylvania 19067-

3614

United States of 

America

70 003119.70-01 SMM New England 

Corporation

15-17 Green Earth Way Johnston Rhode Island 02919-

5845

United States of 

America

95 003119.71-01 SMM New England 

Corporation

242 Allens Avenue Providence Rhode Island 02905-

5002

United States of 

America

104 015527.48-07 SMM New England 

Corporation

30 Fields Point Drive Providence Rhode Island 02903-

4712

United States of 

America

216 200 Allens Avenue Providence Rhode Island 02905-

5002

United States of 

America

84 000114.44-09 Sims Recycling Solutions, Inc 417 Sanford Rd La Vergne Tennessee 37086-

3795

United States of 

America

102 084808.20-03 821 W College St Pulaski Tennessee 38478-

3626

United States of 

America

213 Tennessee Valley Recycling 

LLC

821 W College St Pulaski Tennessee 38478-

3626

United States of 

America

187 003449.46-01 SA Recycling 6800 Market Avenue El Paso Texas 79915-

1014

United States of 

America

96 Proler Southwest Corporation 6747 Avenue W Houston Texas 77011-

1247

United States of 

America

75 074386.14-03 Proler Southwest 90 Hirsch Rd Houston Texas 77020-

6332

United States of 

America

Proler Southwest Corporation 70-80-90 Hirsch Rd

Proler Southwest 21 Japhet St

Proler Southwest Corporation

77020-

7819

Page 10 of 11

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SCHEDULE OF LOCATIONS, APPENDIX A

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

76 003105.59-01 SSE Chesapeake, VA 4300 Buell St Chesapeake Virginia 23324-

1008

United States of 

America

77 003119.72-01 SMM Southeast LLC 25820 Hofheimer Way North Dinwiddie Virginia 23803-

8905

United States of 

America

78 044638.18-07 SMM Southeast LLC 3220 Deepwater Terminal Rd Richmond Virginia 23234-

1827

United States of 

America

79 SMM Southeast LLC 1177 Hosier Rd Suffolk Virginia 23434-

7814

United States of 

America

80 SMM Southeast LLC 2116 George Washington 

Memorial Highway

Yorktown Virginia 23693-

4223

United States of 

America

Page 11 of 11

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SCHEDULE OF SA RECYCLING, LLC LOCATIONS, APPENDIX B

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

171 SA Recycling 430 Air Base Boulevard Montgomery Alabama 36108-

2202

United States of 

America

156 003286.19-01 SA Recycling 309 State Docks Rd Phenix City Alabama 36869-

7613

United States of 

America

110 SA Recycling 12 W Southern Avenue Mesa Arizona 85210-

5207

United States of 

America

119 SA Recycling 1530 E Broadway Rd Phoenix Arizona 85040-

2310

United States of 

America

160 SA Recycling 3210 S 19th Avenue Phoenix Arizona 85009-

6924

United States of 

America

166 003286.29-01 SA Recycling 3640 S 35th Avenue Phoenix Arizona 85009-

6738

United States of 

America

169 SA Recycling 400 S 15th Avenue Phoenix Arizona 85007-

3399

United States of 

America

118 003336.73-01 SA Recycling 1525 W Miracle Mile Tucson Arizona 85705-

9323

United States of 

America

206 SA Recycling 3147 E Ajo Way Tucson Arizona 85713-

5225

United States of 

America

162 SA Recycling 3350 E 32nd St Yuma Arizona 85365-

7508

United States of 

America

158 003286.30-01 SA Recycling 3200 E Frontera St Anaheim California

3250 E Frontera St

135 003336.74-01 SA Recycling 2000 E Brundage Lane Bakersfield California 93307-

2734

United States of 

America

178 003423.46-01 SA Recycling 48100 Harrison St Coachella California 92236-

1214

United States of 

America

189 003423.47-01 SA Recycling 790 E M St Colton California 92324-

3910

United States of 

America

147 003499.08-01 SA Recycling 2495 Buena Vista St Duarte California 91010-

3330

United States of 

America

176 003423.48-01 SA Recycling 460 E Holton Rd El Centro California 92243-

9444

United States of 

America

111 003423.49-01 SA Recycling 12301 & 12351 E Valley 

Boulevard

El Monte California 91732-

3603

United States of 

America

122 003286.31-01 SA Recycling 15615 Arrow Boulevard Fontana California 92335-

3253

United States of 

America

164 003423.51-01 SA Recycling 3489 S Chestnut Avenue Fresno California 93725-

2699

United States of 

America

129 003286.32-01 SA Recycling 16801 S Main St Gardena California 90248-

3121

United States of 

America

109 003423.52-01 SA Recycling 10651 E Avenue Hesperia California 92345-

5114

United States of 

America

174 003423.53-01 SA Recycling 45565 Division St Lancaster California 93535-

1841

United States of 

America

143 003408.24-01 SA Recycling 22606 S Alameda St Long Beach California 90810-

1996

United States of 

America

179 076774.60-61 SA Recycling 482 Pier T Avenue Long Beach California 90802-

6209

United States of 

America

92806-

2812

United States of 

America

Page 1 of 3

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SCHEDULE OF SA RECYCLING, LLC LOCATIONS, APPENDIX B

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

108 003423.55-01 SA Recycling 10313 S Alameda St Los Angeles California 90002-

3800

United States of 

America

131 SA Recycling 1715 E Martin Luther King Jr 

Boulevard

Los Angeles California 90058-

1522

United States of 

America

141 003244.71-01 SA Recycling 2104 & 2047 E 15th St Los Angeles California 90021-

2822

United States of 

America

148 076731.47-03 SA Recycling 2728, 3248 & 3312 Long Beach 

Avenue E

Los Angeles California 90058-

1304

United States of 

America

120 089513.68-02 SA Recycling 1545 Gage Rd Montebello California 90640-

6631

United States of 

America

170 003422.91-01 SA Recycling 41400 Date St Murrieta California 92562-

7094

United States of 

America

146 SA Recycling 2411 N Glassell St Orange California 92865-

2717

United States of 

America

116 003423.56-01 SA Recycling 1441 Mountain View Avenue Oxnard California 93030-

5106

United States of 

America

181 SA Recycling 521 N Rice Avenue Oxnard California 93030-

8924

United States of 

America

183 003423.57-01 SA Recycling 5815 Stockdale Rd Paso Robles California 93446-

9658

United States of 

America

117 003423.63-01 SA Recycling 1475 E Franklin Avenue and 

11630 E End Avenue

Pomona California 91766-

5453

United States of 

America

155 076802.70-04 SA Recycling 3055 Commercial St San Diego California 92113-

1496

United States of 

America

159 003423.59-01 SA Recycling 3202 Main St San Diego California 92113-

3719

United States of 

America

195 076763.90-02 SA Recycling 901 New Dock St San Pedro California 90731-

7598

United States of 

America

136 003373.31-01 SA Recycling 2002-2006 W 5th St Santa Ana California 92703-

2897

United States of 

America

123 003423.60-01 SA Recycling 1599 E Betteravia Rd Santa Maria California 93454-

9647

United States of 

America

112 003422.92-01 SA Recycling 12428 Center St South Gate California 90280-

8058

United States of 

America

192 003423.61-01 SA Recycling 8250 Tujunga Avenue Sun Valley California 91352-

3932

United States of 

America

198 003373.32-01 SA Recycling 9754 San Fernando Rd Sun Valley California 91352-

1424

United States of 

America

152 003423.62-01 SA Recycling 29250 Rio del Sol Thousand Palms California 92276-

2603

United States of 

America

101 003526.12-01 SA Recycling 2525 S K St Tulare California 93274-

6875

United States of 

America

115 083878.38-02 SA Recycling 1359 Central Avenue Atlanta Georgia 30344-

4973

United States of 

America

150 003286.33-01 SA Recycling 2800 Amwiler Rd Atlanta Georgia 30360-

2804

United States of 

America

197 SA Recycling 960 Molly Pond Rd Augusta Georgia 30901-

3718

United States of 

America

Page 2 of 3

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SCHEDULE OF SA RECYCLING, LLC LOCATIONS, APPENDIX B

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

151 SA Recycling 281 Brennan Rd Columbus Georgia 31903-

2192

United States of 

America

144 SA Recycling 2314 Dogwood Drive SE Conyers Georgia 30013-

1535

United States of 

America

193 SA Recycling 859 Athens St Gainesville Georgia 30501-

4867

United States of 

America

182 003286.34-01 SA Recycling 530 Seaboard Industrial Drive Lawrenceville Georgia 30046-

4670

United States of 

America

163 SA Recycling 11140 Veterans Memorial 

Highway

Lithia Springs Georgia 30122-

1600

United States of 

America

173 SA Recycling 4460 Broadway Macon Georgia 31206-

2055

United States of 

America

157 SA Recycling 317 Marble Mill Rd NW Marietta Georgia 30060-

1037

United States of 

America

133 003286.35-01 SA Recycling 1882 Mitchell Rd Norcross Georgia 30071-

3210

United States of 

America

177 SA Recycling 4614 New Calhoun Highway 

NE

Rome Georgia 30161-

9632

United States of 

America

106 003286.36-01 SA Recycling 100 Sonny Perdue Drive Savannah Georgia 31408-

8073

United States of 

America

196 SA Recycling 9013 US Highway 301 S Statesboro Georgia 30458-

3191

United States of 

America

130 SA Recycling 1701 Western Avenue Las Vegas Nevada 89102-

2615

United States of 

America

149 SA Recycling 2780 N Nellis Boulevard Las Vegas Nevada 89115-

4507

United States of 

America

184 003336.75-01 SA Recycling 5850 N Nellis Boulevard Las Vegas Nevada 89115-

2407

United States of 

America

186 SA Recycling 6351 Vegas Valley Drive Las Vegas Nevada 89142-

3502

United States of 

America

167 SA Recycling 3870 Losee Rd North Las Vegas Nevada 89030-

3307

United States of 

America

213 Tennessee Valley Recycling 

LLC

821 W College St Pulaski Tennessee 38478-

3626

United States of 

America

187 003449.46-01 SA Recycling 6800 Market Avenue El Paso Texas 79915-

1014

United States of 

America

Page 3 of 3

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SRS DEDUCTIBLE LOCATIONS, APPENDIX C

Account No. 1-85457

Policy No. 1047248

Location 

No.

Index/

Record No Name Street City State/Prov

Postal 

Code Country

AA01 AA1419.00-01 SRS AUT Industriestrasse 2 Müllendorf 7052 Austria

BE01 BE1061.00-02 SRS BEL Europark-Noord 32 Sint-Niklaas Oost-Vlaanderen 9100 Belgium

CZ01 SRS CZCH Hviezdoslavova 53c Brno 627 00 Czech Republic

GE02 GEA487.00-02 SRS GER Im Weiherfeld 25 GinsheimGustavsburgHessen 65462 Germany

GE01 GEE440.00-01 SRS GER 10 Rathenaustr Bergkamen NordrheinWestfalen59192 Germany

NL01 NE5475.00-01 SRS NL Hastelweg 251 Eindhoven Noord Brabant 5652 CV Netherlands

NL02 NE5476.00-01 SRS NL Waarderweg 60 Haarlem Noord Holland 2031 BP Netherlands

NO01 NO1193.00-01 SRS NOR Greåkerveien 23 Greåker Østfold 1718 Norway

PL01 SRS POL Lakowa 79 Bydgoszcz 85-463 Poland

SW01 SW3119.00-01 SRS SWE Karosserigatan 6 Katrineholm 641 51 Sweden

UE01 SRS UAE Jebel Ali Free Zone, PO Box 

262843

Dubai United Arab 

Emirates

UK49 UKM040.00-01 SRS UK Northend Rd Stalybridge Cheshire SK15 3AZ United Kingdom

UK43 UK0842.00-02 SRS UK Macklin Avenue, Cowpen Lane 

Industrial Estate

Billingham Cleveland TS23 4BY United Kingdom

UK50 UK7118.00-02 SRS UK Lochside Industrial Estate, 

Irongray Rd

Dumfries Dumfriesshire DG2 0NR United Kingdom

Page 1 of 1

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Form FMG7308 Page 1 of 2 Edition January 2015

Account No. 1-85457

Policy No. 1047248

SUPPLEMENTAL UNITED STATES

CERTIFIED ACT OF TERRORISM ENDORSEMENT

This Endorsement is applicable to all insured Locations in the United States, its territories 

and possessions and the Commonwealth of Puerto Rico.

Coverage for “Certified Act of Terrorism” Under The Terrorism Risk Insurance Act of 2002, as 

amended.

In consideration of a premium charged of USD93,025, this Policy, subject to the terms and conditions 

therein and in this Endorsement, covers direct physical loss or damage to insured property and any 

resulting TIME ELEMENT loss, as provided in the TIME ELEMENT section of the Policy, caused by or 

resulting from a Certified Act of Terrorism as defined herein.

Notwithstanding anything contained elsewhere in this Policy, any exclusion or limitation of terrorism in 

this Policy and any endorsement attached to and made a part of this Policy, is hereby amended to the 

effect that such exclusion or limitation does not apply to a “Certified Act of Terrorism” as defined herein.

This amendment does not apply to any limit of liability for a Certified Act of Terrorism, if any, stated 

under the LIMITS OF LIABILITY clause of the DECLARATIONS section of this Policy.

With respect to any one or more Certified Act(s) of Terrorism, this Company will not pay any amounts 

for which the Company is not responsible under the terms of the Terrorism Risk Insurance Act of 2002

(including subsequent action of Congress pursuant to the Act) which includes a provision stating that if 

the aggregate insured losses exceed USD100,000,000,000 during any calendar year, neither the United 

States Government nor any insurer that has met its insurer deductible shall be liable for the payment of 

any portion of the amount of such losses that exceed USD100,000,000,000. If the aggregate insured 

losses for all insurers exceed USD100,000,000,000, your coverage may be reduced.

The coverage provided under this Endorsement for “Certified” losses caused by acts of terrorism will be 

partially reimbursed by the United States Government under a formula established by Federal Law. 

Under this formula, the United States pays 85% (and beginning on January 1, 2016, shall then decrease by 

1 percentage point per calendar year until equal to 80 percent) of covered terrorism losses exceeding a 

statutorily established retention by the insurer referenced in this Policy. The premium charged for this 

coverage is provided above.

The terms and limitations of any terrorism exclusion, or the inapplicability or omission of a terrorism 

exclusion, do not serve to create coverage for any loss which would otherwise be excluded under this 

Endorsement or the Policy.

The coverage provided by this Endorsement only applies to a Certified Act of Terrorism.

Reference and Application: The following term(s) means:

Certified Act of Terrorism:

A “Certified Act of Terrorism” means any act that is certified by the Secretary of the Treasury, in 

consultation with the Secretary of Homeland Security, and the Attorney General of the United States, to 

be an act of terrorism pursuant to the federal Terrorism Risk Insurance Act of 2002 as amended and 

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Form FMG7308 Page 2 of 2 Edition January 2015

extended in 2005, 2007, and in 2015. The criteria contained in that Act for a “Certified Act of Terrorism” 

include the following:

a. The act resulted in aggregate losses in excess of USD5,000,000; and

b. The act is a violent act or an act that is dangerous to human life, property or infrastructure and 

is committed by an individual or individuals as part of an effort to coerce the civilian 

population of the United States or to influence the policy or affect the conduct of the United 

States Government by coercion.

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Form FMG7558 Page 1 of 1 Edition October 2016

Account No. 1-85457

Policy No. 1047248

CYBER OPTIMAL RECOVERY ENDORSEMENT

It is agreed that this Endorsement is a part of the Policy and that the terms and conditions of the Policy are 

amended as described herein. All other terms and conditions of the Policy remain unchanged.

INSURED OPTION:

The Insured acknowledges having purchased a cyber policy. 

As respects loss or damage that is covered by both this Policy and the cyber policy, and notwithstanding 

anything contained in the OTHER INSURANCE clause in the GENERAL PROVISIONS section of this 

Policy, the Insured may elect, within 180 days of notifying this Company of the loss, to apportion the loss 

between this Policy and the cyber policy and to designate this Policy as primary, excess or contributing 

insurance to the cyber policy with respect to each portion of the loss, provided designating it as such is 

necessary to maximize the total indemnity available for the loss under both this Policy and the cyber 

policy. 

This election option shall be subject to the following additional conditions:

ADDITIONAL CONDITIONS

1) The Insured will provide this Company with a copy of any cyber policy in force at the time of loss.

2) Any coverage provided by the cyber policy that is not provided by this Policy does not extend to this 

Policy.

3) The insolvency, inability or unwillingness to pay of the company issuing the cyber policy shall in no 

event increase this Company’s liability or delay settlement under this Policy.

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6525 (11/15) Page 1 of 2

NOTICE TO ARKANSAS POLICYHOLDERS

Inquiries and Complaints

Please contact us if you have an inquiry or complaint. We will provide you with the name, 

address and telephone of your policy producer or agency, if applicable.

Policyholder Service Office: 

Factory Mutual Insurance Company

Corporate Offices

P.O. Box 7500

270 Central Avenue

Johnston, RI 02919-4949

Toll free: (800) 343-7722

Local: (401) 275-3000

If we at Factory Mutual Insurance Company fail to provide you with reasonable and 

adequate service, you should feel free to contact:

Arkansas Insurance Department

1200 West Third Street

Little Rock, AR 72201

Toll free: (800) 852-5494

Local: (501) 371-2640

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6525 (11/15) Page 2 of 2

NOTICE TO ARKANSAS POLICYHOLDERS

Arson Reporting

The purpose of this notice is to inform you of the state law requirements mandating the release of 

information relating to arson reporting.

Arkansas law requires that upon request, insurers must disclose to law enforcement or state or federal 

agencies any information relating to fire losses that may have been intentionally caused. Details from the 

law are referenced below.

RELEASE OF INFORMATION

(a) Any authorized agency may, in writing, require the insurer at interest to release to the requesting 

agency relevant information relating to the fire loss in question which may include, but is not 

limited to:

(1) policy premium payment records;

(2) history of previous claims made by the Insured;

(3) material relating to the insurer's investigation of the fire loss.

(b) (1) Any insurer having reason to believe that a fire loss in which it has an interest may be of 

other than accidental cause shall, in writing, notify an authorized agency of the finding.

(2) When an insurer notifies any one of the authorized agencies pursuant to this subchapter, it shall 

be sufficient notice for the purpose of this subchapter.

(3) Nothing in subsection (b) of this section shall abrogate or impair the rights or powers created 

under subsection (a) of this section.

(c) The authorized agency provided with information pursuant to subsections (a) or (b) of this section 

and in furtherance of its own purposes may release or provide the information to any other 

authorized agency of this or another state, or of the United States to the extent that its disclosure or 

use is relevant to a loss by fire of real or personal property which is under investigation by the 

agency.

(d) (1) When an insurer enters into a contract of insurance against fire loss with the insured, the 

requirements of this subchapter must be disclosed in writing to the insured.

(2) Any insurer providing information to an authorized agency pursuant to this law shall notify its 

insured in writing of such an action no later than 90 days after the action has been taken. A 

copy of the report furnished the authorized agency shall be furnished to the Insured upon the 

commencement of civil action or criminal prosecution. For purposes of this subchapter, 

"named insured" means the person whose name appears on the face of the policy as the insured

individual.

e) Any insurer, or a person acting on its behalf, shall be immune from liability in any civil or criminal 

proceeding for any statement made or action required by this subchapter where actual malice on the 

part of the insurer or its representative is not present.

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7166 (3/09)

NOTICE TO OUR ILLINOIS POLICYHOLDERS

We are here to serve you.....

As our Policyholder, your satisfaction is important to us. Should you have an inquiry or complaint, 

please contact:

FACTORY MUTUAL INSURANCE COMPANY

Corporate Affairs Department

P.O. Box 7500

Johnston, Rhode Island 02919

(800) 343-7722

If you are still not satisfied.....

write or call:

State of Illinois

Department of Insurance

Consumer Affairs and Information

320 West Washington Street, 4th Floor

Springfield, Illinois 62767-0001

(217) 782-4515

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FILING EXEMPTION NOTICE 

Various states have enacted laws which suspend the requirement for the filing of rates and forms 

used for commercial and large commercial risks. This notice is being sent to you in accordance with 

the following states’ requirement for the insurance company to notify clients affected by this law. If 

you have any questions or concerns, please contact your Account Manager. 

Applicable States:

Kentucky 

Michigan 

Missouri

Pennsylvania 

South Dakota 

Form FMG7547 Page 1 of 1 January 2019

Factory Mutual Insurance Company 

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6579 (5/17)

VIRGINIA NOTICE

IMPORTANT INFORMATION REGARDING YOUR INSURANCE

In the event you need to contact someone about this insurance for any reason please contact your 

agent. If no agent was involved in the sale of this insurance, or if you have additional questions 

you may contact the insurance company issuing this insurance at the following address and 

telephone number:

FM Global

P.O. Box 7500 Johnston, RI 02919

Fax: (401) 275-3029

1-800-343-7722

If you have been unable to contact or obtain satisfaction from the company or the agent, you may 

contact the Virginia State Corporation Commission’s Bureau of Insurance at: Property and 

Casualty Division, Bureau of Insurance, P.O. Box 1157, Richmond, VA 23218. In-state toll-free 

calls: 1-800-552-7945, Out-of-state calls: (804) 371-9741.

Written correspondence is preferable so that a record of your inquiry is maintained. When 

contacting your agent, company or the Bureau of Insurance, have your policy number available

FUNCTIONAL REPLACEMENT COST COVERAGE

Following state requirements, we are advising you that the coverage under this policy for certain 

property as specified in the policy’s Valuation clause applies on a functional replacement cost 

basis which means that, under certain conditions, claims may be settled for less than the actual 

cash value of the property insured.

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