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SUMMARY OF COVER Proposal Form
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The Total One Office Insurance policy provides broad cover for your Office Contents,
and includes cover from several other policies in one convenient policy.
This is an abbreviated version of the cover offered under the policy and is subject
to the terms, conditions and exceptions of the policy. Please read the policy wording carefully upon receipt of the policy booklet.
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SECTION 1 Office Comprehensive
| 1. |
Loss of or damage to Office Contents and Equipment caused by DIRECT and
PHYSICAL RISKS such as Fire, Accidental damage, Theft, Flood etc.) excluding the
first $500 in regard to each loss/damage to carpets, rugs and draperies.
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The AUTOMATIC BENEFITS UNDER SECTION 1 are:
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Limits |
| 2. |
Loss of Rent |
15% of the Sum Insured under Section I - 1. |
| 3. |
Your legal liability to the public for accidents occurring during the period of insurance in
connection with the business
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up to $250,000 plus legal costs any one occurrence |
| 4. |
Loss of Money
| A |
From any cause
| i) |
while in direct transit between the Offices and a Bank or Post Office or
while in night safe at a Bank
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$5,000 |
| ii) |
while at the residence of any Principal or authorized employee of the Insured or
while in direct transit by such persons between the Office and the residence
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$5,000 |
| iii) |
from the Offices
| a) |
during business hours |
$5,000 |
| b) |
out of business hours in a locked safe |
$5,000 |
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| B |
| Loss of unused National Insurance stamps, stamped, or franked National Insurance Cards
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$5,000 |
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| C |
| Damage to Safes caused by Thieves
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$5,000 |
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| 2. |
Malicious Assault (Personal Accident) |
This provides compensation in the event of death or bodily injury of
the Insured or any of his employees in or about the building or whilst
engaged carrying money or valuables in connection with the business caused
by any person of felonious intent. The Scale of Benefits is as follows:
| a) |
Death or loss of one or more limbs or loss of sight of one or both eyes
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$5,000 |
| b) |
Temporary total disablement (not exceeding 104 weeks)
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$50 per week |
| c) |
Loss of or damage to clothing and personal effects |
$1,000.00 max. per person |
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| 3. |
Tenants' Liability: This extends to cover the Insured's legal
liability as Tenant for loss or damage to the office portion
of the Building(s) |
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max. $50,000.00 any one accident. |
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| 4. |
Debris Removal necessarily consequent upon the happening of an Insured occurrence |
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max. 10% of the sum insured on Office Contents and Equipment. |
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SECTION 2 Loss of Income (consequent upon loss/damage within the terms of Section I - 1)
| 1. |
Loss of Gross Income |
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| 2. |
Additional Expenditure |
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refer to notes below |
| 3. |
Auditors' Charges |
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SECTION 3 Employers' Liability/Workmen's Compensation
This section provides coverage in respect of the Insured's legal
liability for death or bodily injury sustained by employees, arising
out of and in the course of their employment by the Insured:
| A) |
At Common Law or |
| B) |
In accordance with any Laws, Regulations, Ordinances as
are applicable to the territory in which the Proposer's
office is situated.
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NOTES
SECTION 2 - LOSS OF INCOME
Section 1 - 1 provides coverage for loss of or damage to the Office Contents
and Equipment. Section 2 provides coverage for Loss of Income, that is, the
company's earnings from which standing charges are met.
This Section is offered only with Section I and provides indemnity against:
| 1 |
- Reduction in Gross Income
- Additional Expenditure necessarily incurred in an effort
to diminishing or avoiding the reduction in Gross Income.
The additional expenditure is limited to the loss of gross
income under (a) thereby avoided
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| 2 |
Additional Expenditure in excess of 1. above, including legal and
other costs and expenses - all such expenditure being incidental to
the reinstatement of such Deeds, Documents, Books
(other than printed books), Plans, Papers and Writings of every
description owned or held in trust by the Proposer. The Company's
liability in respect of any one Deed, Document etc. shall not exceed 5%
of the sum insured by this item.
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| 3 |
Reasonable charges payable by the Proposer to his/
their Accountants for producing and certifying any
particulars or details which are required by the
Company in connection with a claim.
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INDEMNITY PERIOD is the period after the damage during which compensation is payable, and is fixed at 12 months to allow sufficient time for the complete recovery of the business after a serious loss.
SECTION 3 - EMPLOYERS LIABILITY
| 1 |
Wages & Salaries' shall mean total remuneration including over-time, bonuses and any payments in kind or money received without any deduction in respect of National Insurance, Income Tax, holidays with pay or contributory pensions.
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| 2 |
'Employees' shall mean any persons under a contract of service or apprenticeship with the insured, any person who is hired to or borrowed by the Insured, any labour master or person supplied by him, any person by labour-only sub-contractors and any self-employed person performing work of a kind ordinarily performed under a contract of service or apprenticeship with the Insured - while working for the Insured in connection with the Insured's business.
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| 3 |
The premium on this Section is assessed on your estimate of wages. At the end of each Period of Insurance you may be required to submit a statement of actual wages paid and called upon to pay premium on any excess over the amounts estimated.
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