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MISCELLANEOUS INSURANCE (EQUIPMENT ALL RISK POLICY (General Exclusion…

- - - - The total of the property/goods will be declared as the sum insured. This basis is adopted where there is a possibility of the entire property being stolen at any one time
    - - This basis is adapted when the insured decides that it is not possible for the entire property to be stolen at any one time. Therefore a percentage of the total value at the risk would be taken as the sum insured. It is to take at least 20% of the total value declared
  - - - This policy provides cover against theft of property
        e.g. stock-in-trade, office equipment, furniture, fixtures, fittings etc
    - - This policy cover the content of private dwelling for example Household goods, Personal effects, Furniture, Jewellery and valuables
  - - - Any extension in coverage of the policy need an additional premium
    - - Extension in period of the policy can be made when the time period is end
- - - - Money in Insured’s premises contained on locked safes or strongrooms.
      - Money in locked drawers or cabinets or cash registers.
      - Money in the Insured’s premises during and outside normal business hours
    - - Cost of repair or replacement to the damaged locked safe or strongroom resulting from theft of money or any attempt threat.
    - - Monies in the personal custody of the Insured’s authorised employees whilst in direct transit between the premises and bank or post office including money drawn as wages and salaries from the time of receipt until paid out
- - - - Covers named position without names of employees being indicated
    - - The Insured decides the specified amounts guaranteed for each named of individual employee covered according to his or her responsibility and position
    - - Covers individual persons named in the policy for a stated amount
    - - An extension of Collective Policy where the sum insured is specified for the whole group rather than for each individual
      - The sum insured is reduced as each claim is made and an extra premium is needed to reinstate the cover
    - - Covers all employees without show the names of guaranteed person irrespective of positions held and an indemnity up to stated amount in respect of acts of one or more employees
  - - - During the Period of Insurance stated in the Schedule
      - During the uninterrupted continuance of employment of such Employee
      - In connection with Occupation and Duties of such as employee
- - - - Bodily injury
      - Accident loss of the property damage belong to third party