MATERIAL DAMAGE SECTION
HARDWARE AND EQUIPMENT
 
If at any time during the period of insurance stated in the Schedule, the equipment described in the Schedule and used in performance of its proper function shall suffer any unforeseen or accidental loss or damage necessitating repair or replacement, the Insurers will indemnify the Insured in respect of all such loss or damage up to an amount not exceeding in respect of each of the items specified in the Schedule the sum set out opposite thereto and not exceeding in all the total sum expressed in the said Schedule as insured hereby.
The Insurers will also reimburse the Insured for the cost of Clearance of Debris and Cleaning from insured property damaged or destroyed by any cause covered by this Policy. The indemnity shall not exceed the limit fixed in the Schedule.
 
INSURED PERILS
1. incorrect operation, negligent or malicious acts of employees or third parties
2. burglary, theft, robbery and the events related to them
3. faulty design and material
4. short circuit, excessive voltage induction
5. fire, lightning and explosion of all kinds (including the damage caused by fire-fighting and rescue operations)
6. scorching and charring, smoke, soot
7. forces of nature such as storm, flood, hail, landslide
8. any influence of water and moisture and corrosion resulting from them
9. any other accident not hereinafter excluded
 
Exclusions
The Insurers shall not be liable for:
1. loss or damage for which the seller, the lessor, or the repair or maintenance company is legally or contractually liable
2. loss or damage resulting from faults and defects of which the Insured or the management responsible to him knew or should have known
3. loss or damage or resulting from used of an insured object after damage has occurred but before permanent repair has been effected and normal operation guaranteed
4. normal making good upkeep
5. any costs for standard adjustment rectifying functional failures and maintenance of the insured object unless necessary in connection with the repair of an Insured loss
6. loss or damage to valves, tubes, fuses, seals, belts, chains, exchangeable tools engraved cylinders, objects made of glass, porcelain or ceramics, sieves or fabrics or any operating media (e .g lubricating oil, chemicals )
7. aesthetic defects such as scratches on painted, polished or enameled surfaces
In respect of the parts mentioned under 6 and 7 above the Insurers shall be liable to provide compensation in the event that such parts are effected by indemnifiable loss of or damage to the insured items
8. wear and tear corrosion erosion oxidation and deterioration due to the lack of use and normal atmospheric conditions
9. consequential loss of any kind of loss of use
10. any costs for the regeneration of data and the reconstituting of data media even if the data was lost in connection with an insured event
11. direct and indirect damage which arises in connection with seismic activity such as earthquake, volcanic eruption, tsunami etc.
12. extra charges incurred in connection with a claim covered by this Policy for overtime, night-work, work on public holidays express and air freight
 
ADDITIONAL COSTS SECTION
Exclusion 9 under the Material Damage Section is modified in such a way that the Insurers will indemnify the Insured against all sums not exceeding the sum insured started in the Schedule which the Insured shall become liable to pay for.
Additional costs for ensuring continued date processing on other facilities and installations arising in connection with an indemnifiable loss insured by this Policy under the material damage section and occurring the period of insurance.
 
Specific Exclusions
The Insurers shall not be liable for:
1. The costs for regenerating data or data media
2. Costs for loss containment shall be indemnified only when they are the result of measures taken with the agreement of the Insurers
3. The Insurers shall not be liable for costs arising from circumstance which do not stand in the causal relationship to the insured material damage. In particular, the Insurers shall not be liable for additional costs arising from
3.0 bodily injury
3.1 orders or measures of a duly constituted public authority
3.2 expansion of the installation or innovation undertaken following the occurrence of loss
3.3 a capital shortage, even when such shortage shall have been caused by the material damage or the interruption losses
 
PERIOD OF INSURANCE
The Period of Insurance is identical to the Period of Insurance specified in the Schedule.
 
SUM INSURED
The sum insured stated in the Schedule shall be fixed on a first risk basis and represents the hypothetical additional costs and expenses for maintaining continued data processing on other facilities during and annual working period.
 
PERIOD OF LIABILITY AND WAITING PERIOD (TIME EXCESS)
The period of liability stated in the Schedule shall begin with the occurrence of the insured event.
The waiting period stated in the Schedule and the length of the interruption shall be calculated on the basis of working days for the insured installation.
 
PREMIUM
The Premium due for the cover under this section is included in the Total Premium shown in the Schedule.
 
BASIS OF LOSS SETTLEMENT
The Insurers shall indemnify those expenses incurred during the liability period to maintain data processing operations to their previous extent, insofar as these expenses exceed those which would have been incurred during the same period if no insured event had occurred.
The total indemnity shall not exceed a sum equal to the maximum agreed daily indemnity times the number of working days lost during the period of liability.
Interruptions shorter than the waiting period stipulated in the Policy shall be excluded from this insurance. If an interruption is longer than the waiting period, the expenses incurred in the ratio of the waiting period to the total interruption shall not be covered.
 
GENERAL CONDITIONS
1. The Insured shall take all reasonable steps to maintain the insured property in efficient working order and to ensure that no item is habitually overloaded. The Insured shall fully observe the manufacturers instructions for operating, inspection and overhaul, as well as government, statutory, municipal and all other binding regulations in forces concerning the operation and maintenance of the insured equipment.
2. The Insured shall immediately notify the insurers in writing of any material charge the rise insured here under; in such case continuance of the insurance shall be subject to terms and conditions to be agreed.
3. Representatives of the Insurers shall any reasonable time have the right to respect and examine any property insured hereunder and the Insured shall provide the officials of the Insurers with all details and information necessary for the assessment of the risk, The Insurers shall provide the Insured with a copy of the inspection report, which shall however be treaded as strictly confidential, both by the Insured and the Insurers.
4. In the event of any occurrence which might give rise to a claim under the Policy, the Insured shall:
4.0 immediately notify the Insurers by telephone or telegram as well as in writing and supply all such particulars and proofs of claim as may be required by the Insurers
4.1 take all steps within his power to minimize the extent of the loss of damage
4.2 preserve the damaged property and make it available for inspection by a representative or surveyor of the Insurers
4.3 inform the police authorities in case of loss or damage due to theft or burglary
4.4 send to the Insurers immediately on receipt any writ, summons or other proceedings may be commenced against the Insured
4.5 advise the Insurers of any other insurance covering all or part of the same risk.
 
The Insurers shall not in any case be liable for loss, damage or liability of which notice has not been received by the Insurers within 14 days of it occurrence.
 
Upon notification being given to the Insurers under this condition, the Insured may carry out the repair or replacement of any minor damage; in all other cases a representative of the Insurers shall have the opportunity of inspecting the loss or damage before any repairs or alterations are effected. Nothing herein shall prevent the Insured from taking such steps as are absolutely necessary for the security and continuance of operations.
 
The Insured shall not be entitled to abandon any property to the Insurers whether taken possession of by the Insurers or not.
5. The Insured shall at the expense of the Insurers do and concur in doing and permit to be done all such acts and things as may be necessary or required by the Insurers for the purpose of enforcing any rights or remedies, or of obtaining relief or indemnity from parties (other than those insured under this policy) of which the Insurers shall be or would become entitled or subrogated upon their paying for or making good any loss or damage under this Policy, whether such acts and things shall be or become necessary or required before or after the Insured's indemnification by the insurers.
6. Payments in respect of claims made under this Policy shall not reduce the Sum Insured but the Insured shall pay to the Insurers an additional premium at an agreed rate on the amount of any such payments for the period from the date of loss to the expiry of the policy. Such additional premium shall be disregarded for the purpose of any adjustment of premium.
7. All differences arising out of this Policy shall 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 Arbitrators, one to be appointed in writing by each of the parties, within one calendar month after having been required in writing to do so by either of the parties, or, if the Arbitrators do not agree of an Umpire to be appointed in writing by the Arbitrators before entering upon the reference. The Umpire shall sit with the Arbitrators and preside at their meetings.
8. If a claim in any respect fraudulent or if any false declaration is made or used in support thereof, 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, or if a claim is made and rejected and no action, suit, or reference to arbitration is commenced within three months after such rejection or, If arbitration take place as provided herein, within three months after the Arbitrator or Arbitrators or umpire have made their award, all benefit under this policy shall be forfeited.
9. This insurance may be terminated at the request of the Insured at any time, in which case the Insurers will retain the customary short-period rate for the time the Policy has been in force. This insurance may equally be terminated at the option of the Insurers by ten days notice to that effect being given to the Insured. In which case the Insurer shall be liable to repay a reteable proportion of the premium for the unexpired term from the date of cancellation less any reasonable inspecting charges the Insurers may have incurred.
10. This insurance is not be called upon in contribution and is only to pay any loss hereon if and so far not recoverable under any other insurance.
 
Whereas the Insured named in the schedule hereto has made to the Asia Insurance (Cambodia) Plc. (hereinafter called the Insurers) a written proposal by completing a Questionnaire which together with any other written information given by the Insured for the purpose of this policy is deemed to be incorporated herein,
 
Now this policy witnesses that in consideration of the insured having paid to the Insurers the premium shown in the Schedule the Insurers will indemnify the Insured in the manner and to the extent hereinafter provided.
 
Provided always that the due observance and fulfillment of the terms, conditions, exceptions and endorsements of this policy insofar as they relate to anything to be done or complied with by the Insured and the truth of the statements and answers in the proposal(s) shall be conditions precedent to the right of the Insured to recover hereunder.
 
The Schedule and the Section(s) shall be deemed to be incorporated in and form part of this policy and the expression "this Policy" wherever used in this contract shall be read as including the Schedule and the Section(s). Any word or expression to which a specific meaning has been attached in any part of this policy or of the Schedule or of the Section(s) shall bear such meaning wherever it may appear.
 
 
IMPORTANT NOTICE
 
 
The Policy Wording displayed above is meant for reference only, and should under no circumstances be used without the express written consent of Asia Insurance (Cambodia) Plc.
   
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