利损BI英文.docx

1、利损BI英文Business Interruption InsuranceGENERAL PROVISIONSArticle 1 The Insurance Contract incorporates the Insurance Clauses, Proposal Form, Policy or Certificate, Endorsements (if any). Any agreement related to the Insurance Contract shall be in written form.Article 2 It is a condition precedent to a

2、ny liability on the part of the Insurer that the Applicant shall have purchased physical damage Insurance for their property used in Insureds business operation in the premises specified in the Schedule. The Policy Number of the Physical Damage Insurance shall be stated hereon. SCOPE OF COVERArticle

3、 3 If during the period of insurance the business carried out by the Insured at the premises specified in the Schedule is interrupted or interfered with in consequence of physical loss of or damage to the property used in business operation (hereinafter called Physical Damage) resulting from perils

4、or hazards covered under the Physical Damage Insurance (which herein refers to the standard clauses of the physical damage insurance, excluding the special provisions and conditions, extension clauses, endorsements and memorandum etc.), the Insurer shall indemnify the Insured for the loss of gross p

5、rofit resulting from such interruption or interference, subject to the terms, exclusions, conditions and provisions contained in this Policy or endorsed thereon.Indemnity Period in this Policy refers to the period beginning with the occurrence of the Physical Damage and ending no later than the Maxi

6、mum Indemnity Period stated in the Policy thereafter during which the results of the business is affected in the consequence of the damage.Gross Profit stated in this Policy is calculated as follows:Gross Profit= Business Profit +Agreed Standing Charges; orGross Profit=Agreed Standing Charge - Busin

7、ess Deficit Agreed Standing Charges/Total Standing ChargesStanding Charges stated in this Policy refers to the costs or expenses incurred by the Insured for the purpose of maintaining normal business operation and shall not be proportionately reduced in accordance with the reduction of the Turnover.

8、 The agreed Standing Charges shall be determined by the Insured subject to the confirmation of the Insurer, and then specified in this Policy.Unless specifically agreed, the accounting terms used in aforementioned formulas shall have the same meaning usually attached to them in the books and account

9、s of the Insured.Article 4 If any particulars or details contained in the Insureds books of account or other business books or documents, which are required by the Insurer for the purpose of investigating or verifying any claim hereunder, are produced by professional accountants if at the time they

10、are regularly acting as such for the Insured, the Insurer shall indemnify the Insured within the limit stated in this Policy in respect of the necessary and reasonable charges payable by the Insured to their professional accountants (hereinafter call Auditors Fee) for producing such particulars or d

11、etails or any other proofs, information or evidence as may be required by the Insurer.EXCLUSIONSArticle 5 The Insurer shall not be liable for:5.1 any loss or damage caused by or aggravated by willful act and/or gross negligence of the applicant and/or the Insured; and/or5.2 any loss or damage caused

12、 by or aggravated by perils and/or hazards other than those covered by Physical Damage Insurance, which refers to the standard clauses of the physical damage insurance, excluding the special provisions and conditions, extension clauses, endorsements and memorandum etc and/or5.3 any loss or damage ca

13、used by or aggravated by earthquake or tsunami and secondary disasters so caused; and/or5.4 any loss or damage resulting from or aggravated by governments restrictions on recovery or repair of damaged property; and/or5.5 any loss or damage caused by or aggravated by terrorism activities; and/or5.6 t

14、he deductible or time excess set forth in this PolicySUM INSURED AND LIMIT OF INDEMNITYArticle 6 The sum insured of Gross Profit is determined by the Applicant and stated in the Policy.Article 7 The limit of indemnity for Auditors Fee is determined by the Applicant and stated in the Policy.INSURANCE

15、 PERIOD AND MAXIMUM INDEMNITY PERIODArticle 8 Unless otherwise agreed, the period of insurance shall be one year subject to the inception and expiration date as stipulated in the policy.Article 9 The Maximum Indemnity Period is determined by the Applicant and stated in the Policy.DEDUCTIBLE AND TIME

16、 EXCESSArticle 10. The deductible and time excess shall be agreed between the Applicant and the Insurer when entering into the insurance contract and specified in the Policy.OBLIGATIONS OF THE INSURERArticle 11 In case of application of standard clauses, the Insurer shall enclose them in the Proposa

17、l Form and explain the contents of the insurance contract to the Applicant. For the clauses exempting the Insurers liability, the Insurer shall make remarkable notice in the Proposal Form, Policy or other certificates to draw the Applicants attention, and explain them clearly in written or oral form

18、 when entering into the contract. Otherwise, such clauses shall be void. Article 12 The Insurer shall issue the Policy or other certificates in a timely manner after the establishment of an insurance contract Article 13 The Insurers right to cancel the Policy as stated in Article 17 is void if not e

19、xercised by the Insurer within thirty days after his acknowledgement of any causes for cancellation of this Policy. After two years from the establishment of the insurance contract, such right to cancel the Policy is also void and the Insurer shall be liable for the loss, costs or expenses insured b

20、y this Policy.If before the establishment of the insurance contract, the Insurer is aware of the Applicants misrepresentation or non-disclosure, the Insurer cannot cancel the Policy, and still shall be liable for the loss, costs or expenses insured by this Policy.Article 14 If the Insurer believes t

21、hat the proofs and documents provided by the Insured, as required in Article 22, are not sufficient, the Insurer shall request the Applicant and/or the Insured to provide additional materials in time and once for all.Article 15 Upon receipt of a claim, the Insurer shall confirm whether the loss, cos

22、ts or expenses are covered by this Policy or not in a timely manner. For complicated cases, the Insurer shall make decision within thirty days, unless otherwise stipulated in the insurance contact.The Insurer shall notify the Insured of the decision in a timely manner. If the loss, costs or expenses

23、 are covered by this Policy, the Insurer shall make payment within ten days after reaching an agreement with the Insured. If the time limit for indemnity is specifically stipulated in the insurance contact, the Insurer shall make payment within such time limit. If the loss, costs or expenses are not

24、 covered by this Policy, within three days after the decision, the Insurer shall issue a declination letter and explain the reasons to the Insured. Article 18 The Insurer shall allow an advance payment that can be determined by the available proofs or documents if the final settlement amount cannot

25、be determined within sixty days after receipt of such claim and relevant documents, and pay the balance to the Insured after the final amount of indemnity is adjusted.OBLIGATIONS OF THE APPLICANT AND/OR INSUREDArticle 17 Before entering into an insurance contract, the Applicant shall make full and a

26、ccurate representation and disclosure at the request and/or inquiry of the Insurer in respect of the subject matter insured and the Insured himself and complete the Proposal Form faithfully.If the Applicant fails to fulfill the obligation of making full and accurate representation and disclosure as

27、aforementioned due to his willful act and/or gross negligence, which may affect the Insurers decision whether to write the risk of the insurance and, if so, whether to raise the premium rate, the Insurer is entitled to cancel the Policy.If the Applicant willfully fails to comply with the obligation

28、of making full and accurate representation and disclosure, the Insurer shall not be liable for any loss happening prior to the cancellation of the Policy while no premium shall be refunded.If the Applicant, due to gross negligence, fails to disclose in truth material particular(s) which has signific

29、ant contribution to the occurrence of the event insured hereby, the Insurer shall not indemnify the Insured for any loss happening incurred prior to the cancellation of this Policy, but shall return premium collected. Article 18 Unless otherwise agreed, The Applicant shall pay off the premium when t

30、his Policy establishes. The Insurer shall not be liable for any loss which occurs prior to premium payment.Article 19 The insured shall observe and fulfill relevant laws, regulations and requirements on fire, safety, production operations and labor protection, improve management, take all reasonable

31、 precautions to protect the security of the property and prevent and/or minimize loss or damage thereto.The Insurer is entitled to inspect whether or not the Insured has fulfilled the aforementioned obligation of reasonable precautions, and make recommendations in writing to the Applicant or the Ins

32、ured on eliminating risks and dangers, which shall be implemented by the Applicant and/or the Insured in a serious manner accordingly.If the Applicant or the Insured fails to comply with due obligation of reasonable precautions, the Insurer is entitled to charge additional premium or cancel the Policy. Article 20. During the period of insurance, if there is any change of material fact, such as change of business nature in premises specified in the Schedule, liquidation and/or taking-over by liquidator or assets manager, or increase of risk exposure of property used in the business, etc