Suppliers and Customers Extension Clause – IAR
Risks : IAR
Subject to the terms, conditions and exclusions of the policy, loss resulting from interruption of or interference with the Business in consequence of Damage to :
a. property of suppliers, manufactures or processors of components, goods, materials, suppliers of service or other facilities and their suppliers.
b. Property of customers
c. Property whilst in transit by road, rail or inland waterway.
Anywhere in the World is regarded as due to the insured Events insured by the Specification shall be deemed to be the loss resulting from Damage to property of the Insured.
Other Version :
This Insurance under this section extends to include the actual loss of Business Income sustained resulting from the necessary interruption of or Interference with the Insured’s Business operations as a result of any unforeseen, sudden and accidental physical loss, destruction or damage to the premises of the following named Insured’s third party suppliers and/or customs arising out of a peril which would have been Insured under this Policy.
Named Suppliers ( to be advised by the Insured and agreed with the Insurer prior to Inception ).
Subject to a Sum Insured of ……………………..
in respect of each and every occurrence, which is additional to the Sum Insured stated in the Schedule.
Named Customers ( to be advised by the Insured and agree with the Insurer prior to inception).
Subject to a Sum Insured of ………………………………..
in respect of each and every occurrence, which is additional to the Sum Insured state in the Schedule.
The Insurance under this Exclusion shall only apply within the geographical limits stated within the Schedule or as otherwise agreed with the Insurers.
The Insurer’s liability in respect of any one occurrence shall not exceed the limits shown above.