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Products & Services >> Boiler and Pressure Vessel Insurance
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Whereas the Insured named in he Schedule hereto has made to the
RELIANCE INSURANCE LIMITED (hereinafter called "the Insurers") a
written proposal and has paid the premium stated in the Schedule as
consideration for the indemnity hereinafter contained for the period
of insurance stated in the Schedule.
Now it is hereby agreed that the Insurers will, during the period
covered by this policy or any renewal thereof and subject to the
exclusions, provisions, definitions and conditions contained herein
or endorsed hereon, Indemnity the Insured against. |
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1.
Damage (other than by fire) to any boiler or pressure vessel
described in the Schedule hereto and to other property of the
Insured.
2. Liability of the Insured at law for damaged to property not
belonging to the Insured.
3. Liability of the Insured at law on account of fatal or non-fatal
injuries to any persons other than the Insured's own employees or
workmen or members of the Insured’s family, caused by an solely due
to explosion or collapse as hereinafter defined of any boiler or
pressure vessel described in the Schedule whilst in the course of
ordinary working. |
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Provided that the liability of the Insurers in respect of any one
boiler or pressure vessel in any one year of insurance does not
exceed the sum insured set opposite thereto in the Schedule and, in
respect of damage to other property of the Insured and third party
liability, the limit of indemnity so specified in the Schedule.
Provided also that in case on any claim against the insured for
damages as aforesaid the Insurer will in addition pay all costs and
expenses recovered by claimant against the Insured or incurred with
the written consent of the Insurers in resisting such claim.
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EXCLUSIONS |
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The Insurers shall not be liable for
1. Defects due to the wearing away or the wasting of the materials
of a boiler or a pressure vessel, whether by leakage, corrosion or
by the action of the fuel or otherwise, the grooving or the
fracturing of any of the parts of a boiler or a pressure vessel, or
for deterioration generally, or for he development of cracks,
blisters, Laminations and other flaws, or for fractures, failure, of
joints, or for bulging and deformation due to overheating of tubes
(unless such defects, fractures, failures or bulging result in
explosion or collapse), or for the cracking of sections of cast-iron
heating boilers or other vessels constructed of cast-iron
2. The failure of individual tubes in boilers of the water tube,
locomotive or other multitubular types in superheats or in
economizers (unless such defects result in explosion or collapse);
3. Damage, to property belonging to the Insured or held by him in
trust or on commission for which he is responsible, caused by fire
arising from explosion or collapse of any other cause whatsoever, or
damage to the plant resulting from any extraneous cause.
4. Damage and/or liability caused by the wilful act or wilful
neglect of the Insured;
5. Loss sustained by stoppage of work.
6. Loss or damage which either in origin or extent is directly, or
indirectly, proximately or remotely occasioned or contributed to by
any of the following namely; |
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a) typhoon, hurricane, volcanic
eruption, earthquake of other convulsion of nature.
b) loss or damage directly or indirectly caused by or arising
out of war, invasion act of foreign enemy, hostilities (whether
war be declared or not), civil war, rebellion, revolution,
insurrection, mutiny, riot, strike lock-out, civil commotion,
military or usurped power, a group of malicious person or
persons acting on behalf of or in connection with any political
organization, conspiracy, confiseations commandeering
requisition or destruction of or damage to property by order of
any government dejure of de facto or by any public authority,
nuclear reaction, nuclear radiation or radioactive
contamination.
c) any tests other than tests at a pressure not exceeding the
maximum pressure permitted by the inspecting authority.
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DEFINITIONS |
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The
following terms when used in the Policy, shall have the under
mentioned meanings.
1. "Boiler" shall mean any fired closed container or a combined
container piping system in which steam in generated under pressure.
When used in the Schedule, the term "boiler" shall include fittings,
built in super heaters and economizers but shall not include steam
or feed water piping or separate economizers, the explosion of such
item being covered by the Policy only if specifically listed in the
Schedule.
2. "Vessel" shall mean any unfired closed container under steam or
air pressure.
3. "Explosion" shall mean the sudden and violent rending or
tearining apart of the structure of a boiler or vessel; or any part
or parts thereof by force of internal steam air or fluid pressure,
causing bodily displacement of said structing accompanied by the
forcible ejection of its contents.
Fuel Gas Explosion: "Explosion" shall also mean any damage to the
structure of a boiler by force of the sudden and accidental
combustion or explosion of ignited furnace of flue gaese.
4. "Collapse" Shall mean the sudden and dangerous distortion of any
part of a boiler or vessel caused by the crushing stress of external
steam or fluid pressure, whether attended by rupture or not, it
shall not mean any slowly developing deformation due to any cases. |
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CONDITIONS |
1. The due observance and fulfilment of the terms of the Policy, in
so far as they relate to anything to be done or complied with by the
insured, and the truth of the statements and answers in the proposal
made by the Insured shall by a condition precedent to any liability
of the Insurers.
2. The Insured shall at his own expense take all reasonable
precautions and comply with all reasonable recommendations of the
Insurers to prevent loss, damage or liability and shall comply with
manufacturers' recommendations.
3. a) Representatives of the Insurers shall at any reasonable time
have the right to inspect and examine any property insured hereunder
and the Inusred shall provide the representatives of the Insurers
with all details and information necessary for the assessment of the
risk, e. g. the inspection reports issued by the inspectors
authorized by the appropriate authorities.
b) The Insured shall immediately notify the Insurers by telegram and
in writing of any mete rial change in the rick and cause at his own
expense such additional precautions to be taken as circumstances may
require. This shall also apply if fuel is to be used other than that
for which the boiler was designed or which was used at the time the
insurance was effected. Not compliance with this condition shall
result in suspension of this Policy in respect of the item or items
where the change in risk has occurred.
4. In the event of any occurrence which might give rise to a claim
under this Policy, the Insured shall
a) immediately notify the Insurers by telephone or telegram as well
as in writing, giving an indication as to the nature and extent of
the loss or damage;
b) take all steps within his power to minimize the extent of the
loss or damage.
c) preserve the parts affected and make them available for
inspection by a representative or surveyor of the Insurers;
d) furnish all such information and documentary evidence as the
Insurers may require.
The Insurers may at their own option repair or replace what is
damaged or pay in cash for the loss or damage.
The Insurers shall no be liable for the cost of any repairs under
taken by the Insured without the Insurer's written permission. The
Insurers shall not be liable for loss or damage of which no notice
has been received by the Insurers within 14 days of its occurrence.
Upon notification of a claim being given to the Insurers, the
Insured may carry out repairs of any minor damage or replace items
which have sustained any minor damage, but in all other cases a
representative of the Insurers shall have the opportunity of
inspecting the damage before any alternations are effected. If an
inspection by a representative of the Insurers does not take place
within a period of 14 days from the date of the notification of the
claim, the Insured shall be entitled to proceed with repairs or
replacement. Nothing contained herein shall prevent the Insured from
taking such steps as are absolutely necessary to maintain the
operation of the plant.
The liability of the Insurers under this Policy in respect of any
item of property sustaining damage for which indemnity is provided,
shall cease if the said item continues in operation without being
repaired to the satisfaction of the Insurers.
5. The Insured shall at the expense of the Insurers do and concur in
doing and permit to be done all such acts and things as may be
necessary or required by the Insurers in the interest of any rights
or remedies, or of obtaining relief or indemnity from parties (other
than those insured under this Policy) or which the Insurers are or
would become entitled or which is or would be subrogated to them
upon their paying for or making good any loss or damage under this
Policy whether such acts and things are to become necessary or
required before or after the Insured's indemnification by the
Insurers.
6. No admission, offer, promise, payment or indemnity shall be made
or given by or on behalf of the Insured without the written consent
of the Insurers who are entitled if they so desire to take over and
conduct in the name of the Insured the defence of settlement of any
claim for indemnity or damage or otherwise and who have full
discretion in the conduct of any proceedings or in the settlement of
any claim and the insured shall give all such information and
assistance as the Insurers.
7. This Policy may be terminated at the request of the Insured at
anytime; in which case the Insurers will retain that part of the
premium paid corresponding to the customary short period rate for
the time this Policy has been in force. This policy may also at any
time be terminated at the option of the Insurers by seven days
notice to that effect being given to the Insured, in which case the
Insurers will be liable to repay on demand a rateable proportion of
the premium for the unexpired term from the date of cancellation
less any reasonable inspection charges the Insurers may have
incurred.
8. If any difference arises as to the amount to be paid under this
Policy (liability being otherwise admitted), such difference shall
be referred to the decision of an arbitrator to be appointed in
writing by the parties in difference or, if they cannot agree upon a
single arbitrator, to the decision of two arbitrators one to the
appointed in writing by each of the parties or in case the
arbitrators do not agree of an umpire to be appointed in writing by
the arbitrators before the latter enter upon the reference. The
umpire shall sit with the arbitrators and preside at their meetings.
The making of an award shall be a condition precedent to any right
of action against the Insurers.
9. If a claim is in any respect fraudulent, or if any false
declaration is made or used in support thereof, or if any fraudulent
means or devices are used by the Insured or anyone acting on his
behalf to obtain any benefit under this Policy or if a claim is made
and rejected and no action or suit is commenced within three months
after such rejection or; in the case of arbitration taking place as
provided for herein, within three months after the arbitrators or
umpire have made their award, all benefit under this Policy shall be
forfeited.
10. whenever a claim arises under this Policy and the same loss,
damage or liability is covered by any other insurance, the Insurers
shall but be liable to pay or contribute more than their rateable
proportion of any claim for such loss, damage or liability. The
Insured shall be obliged to inform the Insurers of any other
insurance covering the same insured property.
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(a) Give immediate
notice thereof in writing to the Company stating the circumstances
of the case and if the claim be one for Theft or wilful damage, take
all practicable steps to discover the guilty person or persons and
if a case of Loss or Theft,. to recover the property lost. In the
'case of loss or theft of the property he shall also give immediate
notice to the Police.
(b) Within seven days or such further time as the Company may allow,
after the above notice has been received, deliver to the Company a
statement in writing with all particulars and details reasonably
practicable of the property affected and the value thereof and of
the loss or damage thereto and particulars of all other insurances,
if any, in respect of the property lost or damaged.
(c) Furnish all such Vouchers, Proofs, Explanation and other
Evidence as may be reasonably required by the Company, together with
a statutory declaration, if required, in verification of the
statement.
Unless immediate notice as required in paragraph (a) above be
received by the Company within nine weeks of the happening of the
event which gives rise to the claim, the Company will be under no
liability for any Loss or damage occurring in connection with such
event and further, if the claim be in any respect fraudulent or if
any false statutory declaration be made or used in support thereof,
all benefit under this Policy is forfeited. |
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3. The Company may,
at its option reinstate or replace the Property Lost or Damaged or
any part thereof, instead of paying the amount of the Loss or Damage
in money or may join with other Insurers in so doing. Reinstatement
effected as nearly as reasonably practicable to be deemed
sufficient, notwithstanding that the former appearance and condition
of the property may not be precisely restored. If the Company elect
to reinstate or replace, the Insured shall furnish to it when
required all such plans, specifications and information as may be
deemed necessary or expedient for the purpose.
4. On the happening of any Damage to Property in respect of which a
claim is or may be made under this. Policy, the Company, by its
authorised Officers and Servants or others enter into and for a
reasonable time remain in possession of such Property, for all
reasonable purposes relating to or in connection with the insurance
hereby effected and this Policy shall be evidence of leave and
license and authority for that purpose. Any obstruction or
interference by tile Insured shall avoid the Policy.
5. If at the time of any loss of or damage to any property hereby
insured, there be any other insurance effected by or on behalf of
the Insured covering any of the property destroyed or damaged, the
liability of the Company hereunder shall be limited to its rateable
proportion of such loss or damage.
If any such other insurance shall be subject to any Condition of
Average this Policy, if not already subject to any Condition of
Average, shall be subject to Average in like manner.
If any other insurance effected by or on behalf of the Insured is
expressed to cover any of the property hereby insured, but is
subject to any provision whereby it is excluded from ranking
concurrently with this Policy either in whole or in part or from
contributing rateably to the loss or damage the liability of the
Company hereunder shall be limited to such proportion of the loss or
damage as the sum hereby insured bears to the value of the property.
6. Where an insured article consists of items in a pair or set, this
Policy is not to pay 'more than the value of any particular part or
parts which may be lost or damaged without reference to any special
value which such item or items may have as part of such pair or set
nor more than a proportionate part of the Sum insured of the pair or
set.
7. The Insured shall, at the expense of the Company, do and concur
in doing and permit to be done all such acts and things as may be
necessary or reasonably required by the Company for the purpose of
enforcing any rights and remedies or of obtaining relief or
indemnity from other parties to which the Company shall be or would
become entitled or subrogated, upon its paying for or making good
any loss or damage under this Policy, whether such acts and things
shall be or become necessary or required before or after his
indemnification by the Company.
8. The insurance may be terminated at any time at the request of the
Insured, in which case the Company will retain the customary short
period rate for the time the Policy has been in force. The insurance
may also at any time be terminated at the option of the Company, on
notice to that effect being given to the Insured, in which case the
Company shall be liable to repay on demand a rateable proportion of
the premium for the unexpired term from the date of the cancelment.
9. If any difference shall arise as to the amount to be paid under
this Policy (liability being otherwise admitted) such difference
shall be referred to an Arbitrator to be appointed by the parties in
accordance with the statutory provisions in that behalf for the time
being in force. Where any difference is by this condition to be
referred to arbitration the making for an Award shall be a condition
precedent to any right of action against the Company.
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