Source: http://abb.co.id/produk/fire-insurance/?lang=en
Timestamp: 2018-12-14 04:00:41
Document Index: 346170585

Matched Legal Cases: ['art 1', 'art 2', 'art 1', 'art 1', 'art 2', 'art 2']

PT Asuransi Bhakti Bayangkara » Property Insurance
Fire Insurance covers loss or damage to property and/or interest insured directly caused by fire, lightning, explosion, falling aircraft and smoke.
Properties that can be insured :
a. Buildings which are used for both industrial and commercial industry
b. Supplies/equipment used for business
c. Machines used for the production process
d. Inventories/stock of raw materials, semi-finished goods and finished goods
Properties that can not be insured :
a. Goods of others, stored or deposited on trust or on commission basis
b. Precious metals, jewelries, gemstones or precious stones
c. Antiques or art
d. All sorts of texts, pictures or designs, patterns, models or casting and mold
Ã‚Â Covers damage or loss of insured property directly caused by :
Fires due to lack of caution or care of the servant, the insured employees, neighbors, robbery and other fire including the effect of :
Propagation of fire arising (self combustion), short-circuit (short circuit), or because of the nature of the goods themselves (inherent vice)
Fires due to fire another object nearby
Damage or loss of the insured object due to water or other tools that are used to hold or extinguish a fire
Losses caused undermined the whole or part of the property and or interest insured because the command authorities in an effort pengegahan spreading of fire
Loss or damage caused directly by lightning or when lightning caused fires
Loss or damage caused by explosion or release any sudden force, or due to chemical reactions
Loss or damage due to fires caused by aircraft crashes, or something falling from an airplane that hit property or interest insured
Loss or damage caused by smoke from fires of insured properties
Loss and/or damage to property or interest insured is not compensable, due to :
Fire/explosion directly arising from the fire itself(self combustion)/short-circuit/arising from the nature of the goods themselves(inherent vice)
Theft or loss at the time after the occurrence of events which are covered by the Policy
Directly or indirectly caused by :
Deliberate act of the insured, servant or employee of the insured, or others due to orders from the insured
Forest fires, shrubs, reeds and peat
All kinds of business interruptions, earthquakes, tsunamis, and volcanic eruptions
Extended Covers :
Coverage can be extended with fires caused by :
Riot, Strike, Malicious Damage (4.1A)
Earthquake, Volcanic Eruption(4.2)
Cyclone/Typhoon, Hurricane, Flood, Damage bywater
Property All Risk insurance is the most popular type of insurance compared with other types of insurance, as it covers all risk of loss except the risks listed in the exceptions.
A wide variety of buildings, such as : factory, warehouse, offices, shops, schools, hospitals, hotels, malls, Container Terminal, Ship yard, Entertainment, High Rise Building, Residential, Parking Building, etc
Machinery, equipment and spare parts, agricultural/plantation
Equipment, such as : Stationers, Drawings, Design, business books including printing costs
Building hired/contracted by the insured, so they should be responsible if there is damage on the basis of trust or rent
There are 2 parts of coverages :
Part 1 : Material Damage
Part 2 : Business Interruption-Optional Cover
Part 1 Ã¢â‚¬â€œ Material Damage
Covers all risk of loss, damage or physical damage which is unpredictable, sudden and accidental, except for risks listed in general or special exclusion, on objects that are listed and/or at a location in the Policy Schedule
General Exclusion (applicable for all Parts) :
Insurers will not indemnify the Insured in respect of losses (including continual losses) destruction, damage or expense whatsoever, directly or indirectly caused by or arising from or are worsened by :
War, invasion, act of foreign enemy, hostilities or war resembles operations(whether war be declared or not) or civil war; riots, strikes, blockades workers,malicious acts, looting, disobedience, riot, military generation, the generation of people, rebellion, revolution, military force or military power take-over, confiscation, expropriation or nationalization, terrorism. “Terrorism” means the use of violence for political purposes and includes any use of violence with the aim to make public or part of the public in fear
Ionizing radiation or contamination by radioactivity from any nuclear fuel or nuclear waste from the combustion of nuclear fuel
Radioactive toxic explosive or other hazardous items of explosive nuclear assembly or nuclear component
Deliberate action or negligence of the insured or his representative intentionally
Total or partial work stoppage
Special Exclusion for Part 1 :
Insurers shall not be liable for any loss or damage destruction of :
Property under construction or erection
Property being work upon and actually arising from the process of manufacture, testing, repairing, cleaning restoring, alteration, renovation or servicing
Property in transit by road, rail, air or water
Licensed road vehicles, railway locomotives and rolling stock, watercraft, aircraft, spacecraft and the like
Jewelry, precious stones, precious metals, bullion, fur, curiosities/antiques, rare books or works of art
Standing timber, growing crops, animals, birds, fish
Land (including topsoil back fill drainage or culvert), driveways, pavements, roads, runways, railway lines, dams, reservoirs, surface water, underground water, canals, rigs, wells, pipelines, cables, tunnels, bridges, docks, piers, wharves, mining property underground, offshore property
Property in the possession of customer under Rental Agreement or Hire Purchase, Credit or other Suspensive Sale Agreement
Property which at the time of the happening of loss destruction or damage is insured by or would but for the existence of this policy be insured by any marine Policy or Policies
Insurers are not responsible for loss or damage to destruction of the insured property directly or indirectly caused by or arising out of, or aggravated by :
Delay, loss of market or loss or further damage or other indirect whatsoever kind or description
Dishonesty, cheating, deceit, deception or other falsehood
Vanish, deficiencies that can not be explained or reduction of inventory items
Leak connection, failure of welding, cracked, broken, crumbling or excessive heat in the boiler, economizer, super-heater, pressure vessel or the kinds of pipelines and steam pipelines filler related thereto, the failure or disorder of mechanical or electrical connection with equipment or supplies certain engine failure or chaos in which it originates
All the causes that take place gradually, including but not limited to, wear, rust, corrosion, mildew, mold, rot wet or dry, degradation that occurs gradually, latent defects, the nature of the goods, deformation or distortion which occurs slowly, insect larvae or small animals of any kind, microbes of any kind, unless further losses destruction or physical damage are sudden and unexpected, in which case the responsibility of the Insurer is limited to the loss of damage or destruction of such advanced
Pollution or contamination, unless caused by fire, lightning, explosion, aircraft or equipment other flying or goods that fall thereof, riot, strikers, blockage workers, people who took part in the disruption of the workers, those who do evil (apart thieves), earthquakes, storms, floods, overflowing water from a tank or pipe equipment or collision by land vehicles or animals
Enactment of an ordinance or laws governing the construction, repair or destruction of an insured property here unless stipulated in the Memorandum Public Authority unity of this Section
Shrinkage, evaporation, loss of weight, change in taste, color, texture or cover layer, the influence of light
Changes in temperature or humidity, failure or inadequacy of working an air-conditioning system, cooling or heating due to operating errors. Burden of proof that there is no error operation, located in the Insured
Exposure to the weather conditions in which the property is left in the open or not placed in the fully enclosed building
Insurer shall not be liable for the costs :
Rectifying of defective material, faulty workmanship or design
Normal upkeep, normal repairs, maintenance
Arising from false or unauthorized programming, punching, labeling or inserting, inadvertent cancelling of information or discarding of data media and from loss of information caused by magnetic fields
Part 2 Ã¢â‚¬â€œ Business Interruption
Insurers agree that if during the term of the insurance business carried on by the insured at the location described in the Schedule is impaired or affected as a result of the loss destruction or damage which may be compensated according to Section I, then the insurer will indemnify the insured for an amount of losses hereinafter defined caused by interference or influence on the condition that the InsurerÃ¢â‚¬â„¢s responsibility is not in any case exceed the amount insured or other amounts mentioned in the endorsement signed by or on behalf of the Insurer.
Special Exclusion for Part 2 :
This Policy does not cover any loss resulting from interruption of or interference with the business directly or indirectly attributable to :
The InsuredÃ¢â‚¬â„¢s lack of sufficient capital for timely restoration or replacement of property lost, destroyed or damaged
Loss of business due to causes such as suspension, lapse or cancellation of a lease license or order etc which occurs after the date when the items lost destroyed or damaged are again in operating condition and the business could have been resumed, if said lease license or order etc had not lapsed or had not been suspended or cancelled
This Policy does not cover the deductible stated in the Schedule to be borne by the Insured