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Special Condition Concerning EDP Equipment Insured in connection Hire/Lease contract – EEI

Special Condition Concerning EDP Equipment Insured in connection Hire/Lease contract – EEI

Risks : EEI

It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, the following shall apply in respect of EDP equipment insured under a separate policy in connection with a hire or lease contract:

Section 2 and/or 3 of the Policy shall be read as if the EDP equipment were insured under Section 1 of the Policy. This shall apply only up to the actual extent of cover provided by the separate policy, but in no case beyond the cover given under Section 1 of the Policy


Special Condition Concerning EDP Equipment Insured in connection Hire/Lease contract – EEI klausula ini biasa dilekatkan pada polis Electronic Equipment Insurance

Electronic Equipment Insurance policy provides comprehensive coverage against unforeseen and sudden physical loss or damage to your electronic equipment and data media.

The policy covers:

  • Material damage (equipment, e,g, computers, microprocessors, systems software)
  • External data media, including information stored thereon and
  • Increased cost of working resulting from accidental loss and/or damage to

Main exclusions

The policy does not cover any loss or damage due to:

  • War or warlike operations
  • Nuclear perils
  • Wilful act or wilful negligence
  • Wear and tear or gradual deterioration due to atmospheric conditions
  • Aesthetic defects
  • Consequential losses

This is not an exhaustive list.

Other Clauses as endorsement for the standard wording, available as follows :

Cover for additional expenditure for the restoration of EDP system : It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, all additional repair costs that can be proved to have been incurred as a result of the loss event of Equipment and the restoration effected in this connection shall be indemnified.This cover shall be applicable for a period of 6 months as from the date the restoration is completed.

Cover for Earthquake : It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to include the risk of earthquake, volcanic eruption and tsunami up to a first loss limit of USD._______.00.

Cover in respect of loss of rental for leased EDP Equipment : It is agreed and understood that otherwise subject to the terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon, cover shall be extended according to the following conditions:SCOPE OF COVER (EEI)The Insurers hereby agree with the Insured that if material damage indemnifiable under Section I of this Policy, however limited to occurrences for which the Insured is liable under the leasing contract, gives rise to a total or partial interruption of operation of the EDP equipment entered in the Schedule, the Insurers will indemnify the Insured, as hereinafter provided, for loss of rental for leased EDP equipment as a consequence of such loss or damage up to an amount not exceeding the agreed indemnification per day and not exceeding in all the sum insured in any one year of insurance, provided always that such interruption occurs during the period of insurance stated in the schedule or during any subsequent period for which the Insured pays and the Insurers may accept the premium for the renewal of this policy.SPECIAL EXCLUSIONS TO THE

ENDORSEMENT (EEI)

The Insurers shall, however, not be liable to for any loss of rental sustained as a result of ;

restrictions imposed by public authorities concerning the reconstruction or operation of the EDP equipment insured;
the necessary funds not being available to the Insured in time for repairing or replacing damaged or destroyed equipment;
delayed or impossible procurement of spare parts;
delay due to the employment of foreign experts

Special Condition Concerning EDP Equipment Insured in connection Hire/Lease contract – EEI

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