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Fire Policy>>
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IN
CONSIDERATION of the insured named in the schedule hereto paying
to RELIANCE INSURANCE LIMITED (hereinafter called the 'Company') the
premium mentioned in the said schedule THE COMPANY AGREES subject to
the terms and conditions contained herein or endorsed hereon that if
after payment of the premium the property insured described in the
said schedule or any part of such Property insured be destroyed or
damaged by fire or lightning whether accompanied by fire or not any
time during the period of Insurance stated in the schedule or during
any further period for which the Company may accept payment for the
renewal of this policy, the Company will pay or make good to the in
sued the value of the property insured at the time of the happening
of its destruction of the amount of such damage PROVIDED THAT the
liability of the Company shall in no case exceed in respect of each
item the sum stated in the schedule to be insured thereon or in the
whole of the total sum insured hereby or such other sum or sums as
may be substituted thereof or by endorsement hereon or attached
hereto signed by or on behalf of the Company's.
PROVIDED ALWAYS that the due observance and fulfilment of the
terms, conditions and endorsement of this policy in so far as they
relate to anything to be done or complied with by the Insured shall
be conditions precedent to any liability of the company to make any
payment under this policy. |
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CONDITIONS |
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1. If
there be any material mis-description of any of the property
hereby insured, or of building or place in which such property
is contained, or any misrepresentation as to any fact, material
to be known for estimating the risk or any omission to state
such fact, the Company shall not be liable upon this policy so
far as it relates to property affected by any such mis-description,
misrepresentation or omission.
2. No payment in respect of any premium shall be deemed to be
payment to the Company unless a printed from of receipt for the
same signed by an official or duly appointed Agent of the
Company shall have been given to the insured.
3. The Insured shall give notice to the Company of any insurance
or insurances already effected, or which may subsequently be
effected, covering any of the property hereby insured, and
unless such notice be given and the particulars of such
insurance or insurances be stated in or endorsed on this policy
by or on behalf of the Company before the occurrence of any loss
or damage, all benefits under this policy shall be forfeited.
4. All insurances under this Policy: |
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i) on any building or
part of any building;
ii) on any property contained in ay building;
iii) on rent or other subject matter of insurance in respect of or
in connection with any building or any
property contained in ay building, shall cease immediately upon any
fall or displacement.
a) of such building or any part thereof;
b) of the whole or any part of any range of buildings or
of any structure of which such building
forms part. |
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PROVIDE that
such fall or displacement is of the whole or a substantial or
important part of such building or impairs the usefulness of
such building or any part thereof or leaves such building or any
part thereof or any property contained therein subject to
increased risk of fire or is otherwise material.
AND PROVIDE that such fall or displacement is not caused by
fire, loss or damage which is covered by this policy or would be
covered if such building, range of buildings or structure were
insured under this policy.
In any action, suit or other proceeding the burden of proving
that any fall or displacement is caused by fire as aforesaid
shall be upon the insured. |
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5. (i) This insurance
does not cover:
a) Loss by theft
during or after the occurrence of a fire
b) loss or damage
to property occasioned by its own fermentation, natural heating
or
spontaneous combustion, (except as any be provided in accordance
with condition 7 (f)
or by its undergoing any heating or drying processes.
c) Loss or damage
occasioned by or through or in consequence of
(1) The burning of property by order of any public authority.
(2) Subterranean Fire.
d) Loss or damage
directly or indirectly caused by or arising from or in
consequence of or contributed
to by nuclear weapons material.
(ii) This insurance does not cover loss or damage
directly or indirectly caused by or arising from
or in consequence of or
contributed to by ionizing radiations or contamination by
radioactivity
from any nuclear fuel or
from any nuclear waste form the combustion or nuclear fuel. For
the
purposes of the Condition
5 (ii) only combustion shall include any self-sustaining process
of
nuclear fission.
6. This insurance does not cover any loss or damage occasioned
by or through or in consequence, directly or indirectly, of any
of the following occurrences namely:
(a) Earthquake, volcanic eruption or other convulsion of nature.
(b) Typhoon, hurricane, tornado, cyclone or other atmospheric
disturbance.
(c) War, invasion, act of foreign enemy, hostilities or warlike
operations (whether war be declared or not), civil war.
(d) Mutiny, riot, military or popular uprising, insurrection,
rebellion, revolution, military or usurped power, martial law or
state of siege or any of the events or causes which determine
the proclamation or maintenance of martial law or state of
siege. Any loss or damage happening during existence of abnormal
conditions (whether physical or otherwise) which are occasioned
by or through or in .consequence, directly or indirectly, of any
of the said occurrence shall be deemed to be loss or damage
which is not covered by this insurance, except to the extent
that the insured shall prove that such loss or damage happened
independently of the existence of such abnormal conditions.
In any action, suit or other proceeding where the Company
alleges that by reason of the provisions of this condition any
loss or damage is not covered by this insurance, the burden of
proving that such loss or damage is covered shall be upon the
Insured.
7. Unless otherwise expressly stated in the policy this
insurance does not cover:
(a) Goods held in trust or on commission.
(b) Bullion or unset precious stones.
(c) Any curiosity or work of Art for an amount exceeding,
Taka 250/=
(d) Manuscripts, plans, drawings or designs, patterns, models
or moulds.
(e) Securities, obligations or documents of any kind, stamps,
coins or paper money, cheques, books
of account or other business
books and/or computer system records.
(f) Coal, against loss or damage occasioned by its own
spontaneous combustion.
(g) Explosives.
(h) Any loss or damage occasioned by or through or in
consequence of explosion, but loss or damage
by explosion of gas used
for illuminating or domestic purpose in a building in which gas
is not
generated and which does
not form part of any gas works, will be deemed to be loss by
fire within
the meaning of this
policy.
(i) Any loss or damage occasioned by or through or in
consequence of the burning, whether accidental
or otherwise of forests bush,
prairie, pampas or jungle and the clearing or lands by fire.
8. Under any of the following circumstances the insurance ceases
to attach as regards the property attach unless the insured
before the occurrence of any loss or damage, obtains the
sanction of the Company signified by endorsement, upon the
policy, by or on behalf of the Company:
(a) If the trade or manufacture carried on be altered or if
the nature of the occupation of or other
circumstances affecting
the building insured or containing the insured property be
changed in
such a way as to increase
the risk of loss or damage by fire.
(b) If the building insured or containing the insured
property become unoccupied and so remain for a
period of more than 30
days.
(c) If property insured be removed to any building or place
other than that in which it is herein stated
to be insured.
(d) If the interest in the property insured pass from the
Insured otherwise than by will or operation of law.
9. This insurance does not cover any Joss or damage to property
which, at the time of the happening of such loss or damage, is
insured by or would but for the existence of this policy be
insured by any Marine policy or policies except in respect of
any excess beyond the amount which would have been payable under
the Marine policy or policies, had this insurance not been
effected.
10. This 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. This 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 the policy is cancelled.
11. On the happening of any loss or damage the Insured shall
forthwigh give notice thereof to the Company and shall within 15
days after the loss or damage or such further time as the
Company may in writing allow in that behalf, deliver to the
Company :
a) Claim in writing for the loss or damage containing as
particular an account as may be reasonably
practicable of all the several
article or items of property damaged or destroyed, and of the
amount of
the loss or damage thereto
respectively, having regard to their value at the time of the
loss or damage
not including profit of any kind.
b) particulars of all other insurances, if any.
The Insured shall also at all times
at his own expense, produce, procure and give to the Company all
such
further particulars, plans,
specifications, books, vouchers, invoice, duplicates or copies
thereof and
documents, proofs and information
with respect to the claim and the origin and cause of the fire
and the
circumstances under which the loss or
damage occurred, and any matter touching the liability or the
amount
of the liability of the Company as
may be reasonably required by or on behalf of the Company
together with
a declaration on oath or in other
legal form of the truth of the claim and of any matters
connected therewith.
No claim under this policy shall be
payable unless the terms of this condition have been complied
with.
12. On the happening of any loss or damage to any of the
property insured by this Policy, the Company may :
a) enter and take and keep possession
of the building or premises where the loss or damage has
happened.
b) take possession of or require to
be delivered to it any property of the insured in the building
or on the
premises at
the time of the loss or damage.
c) keep possession of any such
property and examine, sort, arrange, remove or otherwise deal
with the same.
d) sell any such property or dispose
of the same for account of whom it may concern.
The power conferred by this condition shall be exercisable by
the Company at any time until notice in writing is given by the
insured that he makes no claims under the Policy or, if any
claim is made, until such claim is finally determined or
withdrawn and the Company shall not by any act done in the
exercise or purported exercise of its Powers hereunder, incur
any liability to the insured or diminish its right to rely upon
any of the conditions of this Policy in answer to any claim.
If the insured or any person on his behalf shall not comply with
the requirements of the Company or shall hinder or obstruct the
Company in the exercise of its powers hereunder, all benefits
under this policy shall be forfeited.
The insured shall not in any case be entitled to abandon, any
property to the Company whether taken possession of by the
Company or not.
13. If the claim be in any respect fraudulent, or if any false
declaration be 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 the loss or damage be occasioned by the willful act, or with
the connivance of .the insured, or if the claim be made and
rejected and an action or suit be not commenced within three
months after such rejection, or (In case of an arbitration
taking place In pursuance of condition No.18 of this policy)
within three months after the Arbitrator or Arbitrators or
Umpire shall have made their award all benefit under this policy
shall be forfeited.
14. The Company may at its option reinstate or replace the
Property damaged or destroyed, or any part thereof instead of
paying the amount of the loss or damage or may join with any
other Company or insurers in so doing, but the company shall not
be bound to reinstate exactly or completely, but only as
circumstances permit and in reasonably sufficient manner, and in
no case shall the company be bound to expend more in
reinstatement than it would have cost to reinstate such property
as it was at the time of the occurrence of such loss or damage,
not more than the sum insured by the Company thereon.
If the Company so elects to reinstate or replace any property
the insured shall, at his own expense, furnish the Company with
such plans, specifications, measurements, quantities and such
other particulars as the Company may require, and no acts done
or caused to be done by the Company with a view to reinstatement
or replacement shall be deemed an election by the Company to
reinstate or replace.
If in any case the Company shall be unable to reinstate or
repair the property hereby insured, because of any municipal or
other regulation enforce affecting the alignment, of streets, or
the construction of building or otherwise the Company shall, in
every such case only be liable to pay such sum as would be
requisite to reinstate or repair such property if the same could
lawfully be reinstated to its former condition.
15. 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.
16. If at the time of any loss or damage happening to any
property hereby insured there be any other subsisting insurance
or insurances whether effected by the insured or by any other
person or persons, covering the same property, this Company
shall not be liable to pay or contribute more than its rateable
proportion of such loss or damage.
17. If the property hereby insured shall at the breaking out of
any fire be collectively of greater value than the sum insured
thereon then the insured shall be considered as being his own
Insurer for the difference, and shall bear a rateable proportion
of the loss accordingly. Every item, if more than one, of the
Policy shall be separately subject to his condition.
18. 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 provision in that
behalf for the time being in force where any difference is by
this condition to be referred to arbitration the making of any
award shall be a condition precedent to any right of action
against the Company.
19. In no case whatsoever shall the Company be liable for any
loss or damage after the expiration of twelve months from the
happening of the loss or damage unless the claim is the subject
of pending action or arbitration.
20. Every notice and other communication to the Company required
by these conditions must be written or printed.
21. Loss of or damage to plinths and/or foundations and / or
pavements is excluded from this insurance.
22. When so authorized by the Company the inspectors of the
Company shall have an access at any time to the risk and/or the
premises. |
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