Property All Risk Insurance shall indemnify the Insured against any physical loss or damage to the Property Insured from any cause which are not specially excluded in the policy.

What is the coverage in the policy?

The coverage in this policy is divided into two parts:

1. Material Damage.

The policy shall cover suffer any unforeseen, sudden and accidental physical loss destruction or damage other than those specifically excluded. The Insurers will indemnify the Insured in respect of such loss destruction or damage as hereinafter provided by payment in cash, replacement or repair in all the total sum expressed in the policy as insured hereby.

2. Business Interruption

To cover against business interruption as a result of damage to the material (physical) that has been insured.

What is the matters excluded in material damage?

1. The property exclude is :

 property in the course of construction or erection.
 property in transit by road, rail, air or water.
 licensed road vehicles, railway locomotives and rolling stock, watercraft, aircraft, spacecraft and the like.
 jewellery, precious stones, precious metals, bullion, rare books or works of art.
 standing timber, growing crops, animals, birds, fish.
 land, driveways, pavements, roads, runways, railway lines, dams, reservoirs, surface water, underground water, canals, rigs, wells, pipelines, cables, tunnels, bridges, docks, piers, wharves, mining property underground.
 property which at the time of the happening of loss destruction or damage is insured by or would but for the existence of this policy be insured by any marine policy

2. Loss destruction of or damage to the property insured directly or indirectly caused by :

 War, terrorism, nuclear and radioactive.
 riot, strike, civil commotion.
 delay, loss of market.
 dishonesty, fraudulent act, trick, device or other false pretence.
 disappearance, unexplained or inventory shortage.
 all gradually operating causes wear and tear, rust, corrosion.

What is the additional extension coverage?

 Riots, Strikes, Malicious Damage and Civil Commotions (RSMDCC).
 Earthquakes, volcanic eruptions and tsunami.