利损BI英文.docx

利损BI英文.docx

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利损BI英文

BusinessInterruptionInsurance

GENERALPROVISIONS

Article1TheInsuranceContractincorporatestheInsuranceClauses,ProposalForm,PolicyorCertificate,Endorsements（ifany）.AnyagreementrelatedtotheInsuranceContractshallbeinwrittenform.

Article2ItisaconditionprecedenttoanyliabilityonthepartoftheInsurerthattheApplicantshallhavepurchasedphysicaldamageInsurancefortheirpropertyusedinInsured’sbusinessoperationinthepremisesspecifiedintheSchedule.ThePolicyNumberofthePhysicalDamageInsuranceshallbestatedhereon.

SCOPEOFCOVER

Article3IfduringtheperiodofinsurancethebusinesscarriedoutbytheInsuredatthepremisesspecifiedintheScheduleisinterruptedorinterferedwithinconsequenceofphysicallossofordamagetothepropertyusedinbusinessoperation（hereinaftercalledPhysicalDamage）resultingfromperilsorhazardscoveredunderthePhysicalDamageInsurance（whichhereinreferstothestandardclausesofthephysicaldamageinsurance,excludingthespecialprovisionsandconditions,extensionclauses,endorsementsandmemorandumetc.）,theInsurershallindemnifytheInsuredforthelossofgrossprofitresultingfromsuchinterruptionorinterference,subjecttotheterms,exclusions,conditionsandprovisionscontainedinthisPolicyorendorsedthereon.

IndemnityPeriodinthisPolicyreferstotheperiodbeginningwiththeoccurrenceofthePhysicalDamageandendingnolaterthantheMaximumIndemnityPeriodstatedinthePolicythereafterduringwhichtheresultsofthebusinessisaffectedintheconsequenceofthedamage.

GrossProfitstatedinthisPolicyiscalculatedasfollows:

GrossProfit=BusinessProfit+AgreedStandingCharges;or

GrossProfit=AgreedStandingCharge-BusinessDeficit×AgreedStandingCharges/TotalStandingCharges

StandingChargesstatedinthisPolicyreferstothecostsorexpensesincurredbytheInsuredforthepurposeofmaintainingnormalbusinessoperationandshallnotbeproportionatelyreducedinaccordancewiththereductionoftheTurnover.TheagreedStandingChargesshallbedeterminedbytheInsuredsubjecttotheconfirmationoftheInsurer,andthenspecifiedinthisPolicy.

Unlessspecificallyagreed,theaccountingtermsusedinaforementionedformulasshallhavethesamemeaningusuallyattachedtotheminthebooksandaccountsoftheInsured.

Article4IfanyparticularsordetailscontainedintheInsured'sbooksofaccountorotherbusinessbooksordocuments,whicharerequiredbytheInsurerforthepurposeofinvestigatingorverifyinganyclaimhereunder,areproducedbyprofessionalaccountantsifatthetimetheyareregularlyactingassuchfortheInsured,theInsurershallindemnifytheInsuredwithinthelimitstatedinthisPolicyinrespectofthenecessaryandreasonablechargespayablebytheInsuredtotheirprofessionalaccountants（hereinaftercallAuditor’sFee）forproducingsuchparticularsordetailsoranyotherproofs,informationorevidenceasmayberequiredbytheInsurer.

EXCLUSIONS

Article5TheInsurershallnotbeliablefor:

5.1anylossordamagecausedbyoraggravatedbywillfulactand/orgrossnegligenceoftheapplicantand/ortheInsured;and/or

5.2anylossordamagecausedbyoraggravatedbyperilsand/orhazardsotherthanthosecoveredbyPhysicalDamageInsurance,whichreferstothestandardclausesofthephysicaldamageinsurance,excludingthespecialprovisionsandconditions,extensionclauses,endorsementsandmemorandumetcand/or

5.3anylossordamagecausedbyoraggravatedbyearthquakeortsunamiandsecondarydisasterssocaused;and/or

5.4anylossordamageresultingfromoraggravatedbygovernment'srestrictionsonrecoveryorrepairofdamagedproperty;and/or

5.5anylossordamagecausedbyoraggravatedbyterrorismactivities;and/or

5.6thedeductibleortimeexcesssetforthinthisPolicy

SUMINSUREDANDLIMITOFINDEMNITY

Article6ThesuminsuredofGrossProfitisdeterminedbytheApplicantandstatedinthePolicy.

Article7ThelimitofindemnityforAuditor’sFeeisdeterminedbytheApplicantandstatedinthePolicy.

INSURANCEPERIODANDMAXIMUMINDEMNITYPERIOD

Article8Unlessotherwiseagreed,theperiodofinsuranceshallbeoneyearsubjecttotheinceptionandexpirationdateasstipulatedinthepolicy.

Article9TheMaximumIndemnityPeriodisdeterminedbytheApplicantandstatedinthePolicy.

DEDUCTIBLEANDTIMEEXCESS

Article10.ThedeductibleandtimeexcessshallbeagreedbetweentheApplicantandtheInsurerwhenenteringintotheinsurancecontractandspecifiedinthePolicy.

OBLIGATIONSOFTHEINSURER

Article11Incaseofapplicationofstandardclauses,theInsurershallenclosethemintheProposalFormandexplainthecontentsoftheinsurancecontracttotheApplicant.FortheclausesexemptingtheInsurer’sliability,theInsurershallmakeremarkablenoticeintheProposalForm,PolicyorothercertificatestodrawtheApplicant’sattention,andexplainthemclearlyinwrittenororalformwhenenteringintothecontract.Otherwise,suchclausesshallbevoid.

Article12TheInsurershallissuethePolicyorothercertificatesinatimelymanneraftertheestablishmentofaninsurancecontract

Article13TheInsurer’srighttocancelthePolicyasstatedinArticle17isvoidifnotexercisedbytheInsurerwithinthirtydaysafterhisacknowledgementofanycausesforcancellationofthisPolicy.Aftertwoyearsfromtheestablishmentoftheinsurancecontract,suchrighttocancelthePolicyisalsovoidandtheInsurershallbeliablefortheloss,costsorexpensesinsuredbythisPolicy.

Ifbeforetheestablishmentoftheinsurancecontract,theInsurerisawareoftheApplicant’smisrepresentationornon-disclosure,theInsurercannotcancelthePolicy,andstillshallbeliablefortheloss,costsorexpensesinsuredbythisPolicy.

Article14IftheInsurerbelievesthattheproofsanddocumentsprovidedbytheInsured,asrequiredinArticle22,arenotsufficient,theInsurershallrequesttheApplicantand/ortheInsuredtoprovideadditionalmaterialsintimeandonceforall.

Article15Uponreceiptofaclaim,theInsurershallconfirmwhethertheloss,costsorexpensesarecoveredbythisPolicyornotinatimelymanner.Forcomplicatedcases,theInsurershallmakedecisionwithinthirtydays,unlessotherwisestipulatedintheinsurancecontact.

TheInsurershallnotifytheInsuredofthedecisioninatimelymanner.Iftheloss,costsorexpensesarecoveredbythisPolicy,theInsurershallmakepaymentwithintendaysafterreachinganagreementwiththeInsured.Ifthetimelimitforindemnityisspecificallystipulatedintheinsurancecontact,theInsurershallmakepaymentwithinsuchtimelimit.Iftheloss,costsorexpensesarenotcoveredbythisPolicy,withinthreedaysafterthedecision,theInsurershallissueadeclinationletterandexplainthereasonstotheInsured.

Article18TheInsurershallallowanadvancepaymentthatcanbedeterminedbytheavailableproofsordocumentsifthefinalsettlementamountcannotbedeterminedwithinsixtydaysafterreceiptofsuchclaimandrelevantdocuments,andpaythebalancetotheInsuredafterthefinalamountofindemnityisadjusted.

OBLIGATIONSOFTHEAPPLICANTAND/ORINSURED

Article17Beforeenteringintoaninsurancecontract,theApplicantshallmakefullandaccuraterepresentationanddisclosureattherequestand/orinquiryoftheInsurerinrespectofthesubjectmatterinsuredandtheInsuredhimselfandcompletetheProposalFormfaithfully.

IftheApplicantfailstofulfilltheobligationofmakingfullandaccuraterepresentationanddisclosureasaforementionedduetohiswillfulactand/orgrossnegligence,whichmayaffecttheInsurer’sdecisionwhethertowritetheriskoftheinsuranceand,ifso,whethertoraisethepremiumrate,theInsurerisentitledtocancelthePolicy.

IftheApplicantwillfullyfailstocomplywiththeobligationofmakingfullandaccuraterepresentationanddisclosure,theInsurershallnotbeliableforanylosshappeningpriortothecancellationofthePolicywhilenopremiumshallberefunded.

IftheApplicant,duetogrossnegligence,failstodiscloseintruthmaterialparticular（s）whichhassignificantcontributiontotheoccurrenceoftheeventinsuredhereby,theInsurershallnotindemnifytheInsuredforanylosshappeningincurredpriortothecancellationofthisPolicy,butshallreturnpremiumcollected.

Article18Unlessotherwiseagreed,TheApplicantshallpayoffthepremiumwhenthisPolicyestablishes.TheInsurershallnotbeliableforanylosswhichoccurspriortopremiumpayment.

Article19Theinsuredshallobserveandfulfillrelevantlaws,regulationsandrequirementsonfire,safety,productionoperationsandlaborprotection,improvemanagement,takeallreasonableprecautionstoprotectthesecurityofthepropertyandpreventand/orminimizelossordamagethereto.

TheInsurerisentitledtoinspectwhetherornottheInsuredhasfulfilledtheaforementionedobligationofreasonableprecautions,andmakerecommendationsinwritingtotheApplicantortheInsuredoneliminatingrisksanddangers,whichshallbeimplementedbytheApplicantand/ortheInsuredinaseriousmanneraccordingly.

IftheApplicantortheInsuredfailstocomplywithdueobligationofreasonableprecautions,theInsurerisentitledtochargeadditionalpremiumorcancelthePolicy.

Article20.Duringtheperiodofinsurance,ifthereisanychangeofmaterialfact,suchaschangeofbusinessnatureinpremisesspecifiedintheSchedule,liquidationand/ortaking-overbyliquidatororassetsmanager,orincreaseofriskexposureofpropertyusedinthebusiness,etc