GLASS INSURANCE POLICY
WHEREAS the Insured named and described in the Schedule hereto
has applied to RHB INSURANCE BERHAD (hereinafter referred to
as "the Company") by a written proposal and
declaration which shall be the basis of this contract and is deemed to be
incorporated
herein and has paid or agreed to pay the Premium stated
in the aforesaid Schedule as consideration for such insurance hereinafter
provided.
NOW THIS POLICY WITNESSETH that during the Period of
Insurance or during any further period for which the Company may accept payment for the renewal of this Policy and subject
to the Terms Exceptions Provisions Limits and Conditions contained herein or endorsed
hereon or otherwise expressed hereon (hereinafter collectively referred to as
the Terms of this Policy) provided any of the glass situated at the premises as
described in the Schedule shall be broken, the Company shall:-
1) replace such broken glass with glass of
similar manufacture or quality or at the option of the Company pay to the
Insured an
amount equivalent to the cost of such
replacement or the sum insured should such be stated in the Schedule
2) pay the cost necessarily incurred in boarding
up the aperture caused by such breakage for which the Company is liable
hereunder.
PROVIDED that the
word "breakage" shall not include any disfiguration or damage other
than fracture extending through the entire thickness of the glass.
EXCEPTIONS
This Policy does not cover: -
(a) breakage or damage of glass due to
dilapidation of frames or framework.
(b) breakage of or damage to frames or framework
of any description
(c) the cost of removal or replacement of any
fittings or fixtures or other obstructions.
(d) breakage of glass in conservatories greenhouse
or outbuildings
(e) breakages arising during removal or
alterations to premises.
(f) cracked or imperfect glass unless specially
declared as such and specially included in the Schedule.
(g) damage to or breakage of writing, painting,
ornamentation or alarm tapes unaccompanied by the breakage of glass even when
such items are specifically
included in the Schedule
(h) glass which have already been broken or
damaged at the commencement of this insurance.
(i) breakage or damage happening while the
Premises are occupied for any purpose other than the Business or while the
Premises
are untenanted
(j) any consequential loss
(k) any consequence of fire, explosion, lightning
subterranean fire, earthquake, storm, tempest, hurricane, cyclone, tornado,
windstorm, flood, volcanic
eruption or natural hazard of any kind
(l) any loss or damage occasioned by or through
or in consequence directly or indirectly caused by any of the following
occurrences,
namely:-
i) war, invasion, act of foreign enemy,
hostilities or warlike operations (whether war be declared or not), civil war;
ii) mutiny, riot, strike, civil commotion,
military or popular rising, insurrection, rebellion, revolution, military or
usurped
power;
iii) any act of terrorism
For this purpose an act of terrorism means an act
including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons,
whether acting alone or on behalf of or in connection with any organization(s) or
government(s), committed for political, religious, ideological or similar
purposes including the intention to influence any government and/or to put the
public, or any section of the public, in fear;
iv) martial law or state of siege or any of the
events or causes which determine the proclamation or maintenance of martial
law or state of siege;
v) delay, seizure, confiscation, commandeering,
requisition, compulsory sale (whether under Statute or otherwise) detention,
nationalization or destruction of or
damage to property by or under the order of any government de jure or de facto,
public
or local authority
Any loss
or damage happening during the existence of abnormal conditions (whether
physical or otherwise) which are occasioned by or through or in consequence, directly or
indirectly, of any of the said occurrences shall be deemed to be loss or damage which is not covered by this insurance,
except to the extent that the Insured shall prove that such loss or damage happened
independently of the existence of such abnormal conditions.
In any
action, suit or other proceeding where the Company alleges that by reason of
the provisions of this exception any loss
or damage is not covered by this insurance, the burden of
proving that such loss or damage is covered shall be upon the Insured.
breakage and a replacement of the glass
(n) loss or destruction of or damage to any
property whatsoever or any loss or expense resulting or arising therefrom or
any
consequential loss directly or
indirectly caused by or contributed to by or arising from:-
i) ionizing
radiation or contamination by radioactivity from any nuclear fuel or from
nuclear waste from the combustion of nuclear
fuel. For the purpose of this
exception combustion shall include any self-sustaining process of nuclear
fission. ii) ii) nuclear weapons material
(o) loss destruction or damage directly
occasioned by pressure waves caused by aircraft or other aerial devices
travelling at sonic or
super-sonic speeds.
(p) the excess being the first amount of
Ringgit Malaysian as specified in the Schedule in respect of each and every
loss.
CONDITIONS
1. MEANING
This
Policy and Schedule shall be read together as one contract and any word or
expression to which a specific meaning has been attached in any part of this
Policy or Schedule shall bear such specific meaning wherever it may appear.
2. CONDITIONS PRECEDENT TO
LIABILITY
The due observance and
fulfillment of the terms, conditions and endorsements of this Policy in so far
as they relate to anything to be done or complied with by the Insured and the
truth of the statements and answers in the said proposal shall be conditions
precedent to any liability of the Company to make any payment under this
Policy.
3. CHANGES IN RISKS
No
claim shall be recoverable hereunder if the Premises shall become empty or
disused or if any change shall be made in the Premises or Occupation or in the
conditions of the risks as existing at the time of acceptance unless in any
such cases the written consent of the Company hereto be first obtained.
4. CLAIMS PROCEDURE
Upon the happening of any
breakage giving rise or likely to give rise to a claim under this Policy the
Insured shall:-
(a) give immediate notice thereof in writing to
the Company and unless such notice shall be received by the Company within
fourteen (14) days of the happening of
such breakage the Company shall be under no liability in connection therewith
(b) deliver to the Company within thirty (30) days
from the date upon which the breakage came to his notice, such information
as the Company may require concerning the
breakage
5. OTHER INSURANCE
If at
the time of any loss or damage happening to any property hereby insured, there
be any other subsisting insurance or insurances, whether effected by the
Insured or by any other person or persons, covering the same property, this
Company shall not be liable to pay or contribute more than its rateable
proportion of such loss or damage.
6. SALVAGE
In the
event of breakage for which the Company is liable the broken glass shall become
the absolute property of the Company as salvage
and the Insured shall take all precautions to prevent further breakage or loss
arising to such salvage and shall allow the representatives
of the Company to have immediate access thereto and to remove the same or do
such other things as may be necessary for the preservation thereof.
7. DIMINUTION IN SUMS INSURED
8. SUBROGATION
The
Company may at its own expense may proceed against any person or persons in the
name of the Insured to recover
compensation for the loss sustained by such breakage and
the Insured shall give all reasonable assistance as the Company may
require.
9. CONTRIBUTION
If at
the time of any breakage or damage there be any other insurance effected by or
on behalf of the Insured covering any of the
Glass
or any other property which may be insured hereunder, the Company shall not be
liable for more than its rateable proportion
thereof.
10. CANCELLATION
The
Company may at any time by giving fourteen (14) days' notice in writing to the
Insured at his last known address as known to the Company terminate this
Policy as from the expiration of such fourteen (14) days provided that the
Company shall in that event return to the
Insured a proportionate part of the premium for the unexpired period of
Insurance or the Policy may be cancelled at any time by the Insured and the
Insured shall be entitled to a return of premium less premium at the Company's
customary short period rates for the period of the Policy has been in
force subject to minimum premium of RM50/-.
11. ARBITRATION
If any
difference arises as to the amount of loss such difference shall independently
of all other question be referred to the decision of an Arbitrator to be appointed in writing by the parties
in difference, or, if they cannot agree upon a single Arbitrator, to the decision
of two disinterested persons as Arbitrators, of whom one shall be appointed in
writing by each of the parties within two calendar months after having been required so to do in
writing by the other party. In case either party shall refuse or fail to
appoint an Arbitrator within two calendar months after receipt of
notice in writing requiring an appointment, the other party shall be at liberty to appoint a sole Arbitrator, and in case of
disagreement between the Arbitrators, the difference shall be referred to the decision
of an Umpire who shall have been appointed by them in writing before entering
on the reference and who shall sit with
the Arbitrators and preside at their Meeting. The death of
any party shall not revoke or affect the authority or powers of the Arbitrator, or Arbitrators or Umpire respectively, and in
the event of the death of an Arbitrator or Umpire, another shall in each case be appointed in his stead by the party or Arbitrators
(as the case may be) by whom the Arbitrator or Umpire so dying was appointed. The cost of the reference and of the award
shall be at the discretion of the Arbitrator, Arbitrators or Umpire making the award. And it is hereby expressly stipulated and
declared that it shall be a condition precedent to any right of action or suit upon this Policy that the award by such Arbitrator,
Arbitrators or Umpire of the amount of the loss if disputed shall be first
obtained.
If the Company shall disclaim liability for any claim
hereunder and such claim shall not within twelve (12) calendar months from the date of such disclaimer have been referred to
arbitration under the provisions herein contained then the claim shall for all purposes
be deemed to have been abandoned and shall not thereafter be recoverable
hereunder.
12. MARKET VALUE
It is
hereby agreed that in the event of a loss to the property insured herein, the
limit of indemnity shall be the insured value or market value of the insured
property, whichever is the lower, subject to deductions of any excess and
amounts which the Insured is required to bear under the Policy .
For the purpose of this condition,
the term market value shall mean the value of the property insured herein at
the time of damage or loss less due allowance for betterment, wear and tear
and/or depreciation.
In the
event of a dispute, the market value of the insured property shall for the
purposes of this condition be determined by a valuation
obtained by the Company from the manufacturer, authorized sole agent or agent,
authorized broker or authorized distributor of the cost of replacement
or reinstatement of the insured property damaged or lost as it was at the time
of the occurrence
of such loss or damage.
In the
event that there is, at the time of damage or loss, no manufacturer, authorized
sole agent or agent, authorized broker or authorized distributor for
the insured property, the valuation shall be obtained from a Loss Adjuster
licensed under the Insurance Act, 1996 and to be mutually appointed by both
parties.
The
valuation of the insured property by the manufacturer, authorized sole agent or
agent, authorized broker or authorized distributor or Loss Adjuster
licensed under the Insurance Act, 1996 shall be conclusive evidence in respect
of the market value of the insured property in any legal proceedings against
the Company.
13. FRAUD
If the proposal or
declaration of the Insured is untrue in any respect or if any material fact
affecting the risk be incorrectly stated
therein or omitted therefrom or if this Insurance or any
renewal thereof shall have been obtained through any misstatement
misrepresentation
or suppression or if any claim under this Policy shall be in any respect
fraudulent or if any fraudulent means or
devices
are used by the Insured or anyone acting on his behalf to obtain any benefit
under this Policy, all benefits under this Policy
shall
be forfeited.
WARRANTIES/CLAUSES
(This Policy is subject to
the following warranty and clauses).
PWE PREMIUM WARRANTY
It is a fundamental and
absolute special condition of this contract of insurance that the premium due
must be paid and received by the Company within sixty (60) days from the
inception date of this Policy/Endorsement/Renewal Certificate.
If this
condition is not complied with then this contract is automatically cancelled
and the Company shall be entitled to the pro-
rata
premium for the period they have been on risk.
Where
the premium payable pursuant to this Warranty is received by an authorized
agent of the Company, the payment shall
be
deemed to be received by the Company for the purposes of this Warranty and the
onus of proving that the premium payable
was received by a person, including an insurance agent,
who was not authorized to receive such premium shall lie on the
Company.
Subject otherwise to the
terms, exceptions and conditions of this Policy.
Y2KE DATE RECOGNITION CLAUSE (WITHOUT SAVINGS
CLAUSE)
It is noted and agreed this
policy is hereby amended as follows:-
A. The Company
shall not pay for any loss or damage including loss of use with or without
physical damage or any
consequential
loss directly or indirectly caused by, consisting of, or arising from, the
failure or inability of any computer,
data processing equipment, media microchip, operating
systems, microprocessors (computer chip), integrated circuit or
similar device, or any computer software, whether the
property of the Insured or not, and whether occurring before, during
or after the year 2000 that results from the failure or
inability of such device and/or software as listed above to:-
1. correctly recognize any date as its true
calendar date;
2. capture, save, or retain, and/or correctly
manipulate, interpret or process any data or information or command or
instruction as a result of treating any
date other than as its true calendar date; and/or
3. capture, save, retain or correctly process
any data as a result of the operation of any command which has been
programmed into any computer software,
being a command which causes the loss of data or the inability to capture,
save, retain or correctly
process such data on or after any date.
B. It is
further understood that the Company shall not pay for the repair or
modification of any part of any electronic data
processing system or any part
of any device and/or software as listed above in A.
C. It is
further understood that the Company shall not pay for any loss or damage
including loss of use with or without physical
damage or any consequential
loss directly or indirectly arising from any advice, consultation, design,
evaluation, inspection, installation,
maintenance, repair or supervision done by the Insured or for the Insured or by
or for others to determine, rectify or test, any potential or actual
failure, malfunction or inadequacy described in A above.
D.
It is further understood that the
Company shall not pay for any consequential loss resulting from any continuing
inability of
the
computer and equipment described in A above to correctly recognize any date as
its true calendar date after the lost or damaged property has been replaced or repaired.
Such loss or damage or any
consequential loss referred to in A, B, C or D above, is excluded regardless of
any other cause that contributed concurrently or in any other sequence to the
same.
Subject otherwise to the
terms, exceptions and conditions of this Policy.
ITH INFORMATION TECHNOLOGY HAZARDS CLARIFICATION CLAUSE
NMA 2912
Losses arising directly or
indirectly, out of :
i) loss of, alteration of, or damage to or
ii) a reduction
in the functionality, availability or operation of a computer system, hardware,
programme, software, data,
information repository, microchip, integrated circuit or similar device in computer equipment or non-computer equipment, whether the property of the Insured or not, do not In and of themselves constitute one event unless arising out of one or more of the following perils :
fire,
lightning, explosion, aircraft or vehicle Impact, falling objects, windstorm,
hail, tornado, cyclone, hurricane, earthquake, volcano, tsunami, flood, freeze
of weight of snow.
NOTICE TO POLICYHOLDERS
Please examine the insurance Policy to ensure that it meets Your requirement.
To
avoid misunderstanding, it is very important that the Policy, the Schedule and
any endorsements attached therein be read thoroughly.
If You
have any complaints or grievances pertaining to Your Policy,
please contact Your agent, if any or get in touch with Our
issuing office. We assure You that Your
complaints will be attended to promptly.
For all intents and purposes
where there is a conflict or ambiguity as to the meaning in the Bahasa Malaysia
provisions of any part of the Contract, it is hereby agreed that the English
version of the Contract shall prevail.
As a
responsible Insurer, We wish to bring Your
attention that You could also address Your
dissatisfaction to Ombudsman for Financial Services (OFS) or to Bank
Negara Malaysia Customer Service Bureau (CSB) as listed below.
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