Property Investors Protection Plan policy document (PDF)

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POLICY EXCLUSIONS Property Investors Protection Plan PolicyPolicy ExclusionsSection One and TwoThe insurance by these Sections doesnot cover1 DAMAGE caused by or consisting ofa) inherent vice latent defect gradualdeterioration wear and tear frostchange in water table level its ownfaulty or defective design or materialsb) the bursting by steam pressure of aboiler economiser vessel machine orapparatus in which internal pressure isdue to steam only and belonging to orunder the control of the Insuredother than• in respect of Section 1 – a boilerused for domestic purposes only• in respect of Section 2 – any boileror economiser on the Premises ora boiler used for domesticpurposes onlyc) pressure waves caused by aircraft orother aerial devices travelling at sonicor supersonic speedsBut this shall not exclude subsequentDAMAGE or subsequent loss resultingfrom DAMAGE which itself resultsfrom a cause not otherwise excluded2 DAMAGE caused by or consisting ofa) faulty or defective workmanshipoperational error or omission on thepart of the Insured or any ofhis Employeesbut this shall not excludei) such DAMAGE not otherwiseexcluded which itself results from aDefined Perilii) subsequent DAMAGE which itselfresults from a cause nototherwise excludedb) acts of fraud or dishonesty by theInsureds Employeesbut this shall not exclude suchDAMAGE not otherwise excludedwhich itself results from a Defined Peril3 DAMAGE caused by or consisting ofa) corrosion rust wet or dry rot shrinkageevaporation loss of weight dampnessdryness marring scratching verminor insectsb) change in temperature colour flavourtexture or finishc) joint leakage failure of welds crackingfracturing collapse or overheating ofboilers economisers superheaterspressure vessels or any range of steamand feed piping in connection therewithd) mechanical or electrical breakdown orderangement of the particular machineapparatus or equipment in which suchbreakdown or derangement originatese) in respect of Section 2 – the deliberateact of a supply undertaking inwithholding the supply of water gaselectricity fuel ortelecommunication servicesBut this will not excludei) such DAMAGE not otherwiseexcluded which itself results from aDefined Peril or from any otheraccidental loss destructionor damageii) subsequent DAMAGE which resultsfrom a cause not otherwise excluded4 Infidelity or dishonesty of the Insured orany of their Employees or other personsto whom Property Insured may beentrusted nor loss destruction or damageresulting from the Insured voluntarilyparting with title or possession of anyproperty if induced to do so by anyfraudulent scheme trick device or falsepretence or any unexplained loss or lossor shortage disclosed on taking inventory30
Property Investors Protection Plan Policy POLICY EXCLUSIONS5 a) in respect of Section 1loss or destruction or damage causedby pollution or contamination but thisshall not exclude destruction of ordamage to the Property Insured nototherwise excluded caused byi) pollution or contamination whichitself results from a Defined Perilii) a Defined Peril which itself resultsfrom pollution or contaminationb) in respect of Section 2loss resulting from pollution orcontamination but this shall notexclude loss resulting from destructionof or damage to property used by theInsured at the Premises for thepurpose of the Business not otherwiseexcluded caused byi) pollution or contamination at thePremises which itself results from aDefined Perilii) a Defined Peril which itself resultsfrom pollution or contamination6 DAMAGE caused by or consisting ofa) subsidence ground heave or landslipunless resulting from fire explosionearthquake or the escape of waterfrom any tank apparatus or pipeb) normal settlement or bedding down ofnew structures7 DAMAGE caused by or consisting of orarising directly or indirectly froma) disappearance unexplained orinventory shortage misfiling ormisplacing of informationb) in respect of Section 2i) erasure loss distortion or corruptionof information on computer systemsor other records programs orsoftware caused deliberately byrioters strikers locked-out workerspersons taking part in labourdisturbances or civil commotion ormalicious personsii) other erasure loss distortion orcorruption of information oncomputer systems or other recordsprograms or software unlessresulting from a Defined Peril insofaras it is not otherwise excluded8 a) in respect of Section 1destruction of or damage to a buildingor structure caused by its owncollapse or crackingb) in respect of Section 2loss resulting from destruction of ordamage to a building or structure usedby the Insured at the Premises causedby its own collapse or crackingunless resulting from a Defined Peril in sofar as it is not otherwise excluded9 DAMAGE in respect of movable propertyin the open fences and gates by wind rainhail sleet snow flood or dust10 DAMAGE in respect ofa) glass (other than fixed glass) chinaearthenware marble or other fragile orbrittle objectsb) in respect of Section 1 – curiosities orworks of artother than such DAMAGE caused by aDefined Peril and not otherwise excluded11 Unless specifically mentioned as insuredunder Section 1a) property or structures in course ofconstruction or erection and materialsor supplies in connection with all suchproperty in course of constructionor erectionb) land roads pavements piers jettiesbridges culverts or excavationsc) trees or growing crops31
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Property Investors Protection Plan policy document (PDF)

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