This is the Contract between United Overseas Insurance Ltd (hereinafter known as UOI) and the Insured named in the Schedule of the Policy.
In consideration of the Insured having paid or agreed to pay to UOI the Premium, UOI will provide the cover shown in the Contract during the Period of Insurance up to the Sums Insured or Limits of Indemnity stated in the Schedule, subject to the terms, provisions, exclusions and conditions contained herein or endorsed hereon.
UOI will indemnify the Insured in respect of loss of or damage to the Insured Property in the Premises destroyed or damaged by Fire and/or Lightning and Extraneous Perils as per attached Extraneous Perils Endorsements whilst occurring during the Period of Insurance.
"Insured Property" means any tangible property both real and personal of every kind and description belonging to the Insured or for which the Insured is responsible or has assumed responsibility to insure.
The liability of UOI is limited to a sum not exceeding the Sum Insured set against each item and in the whole the Total Sum Insured.
Claims for insured loss or damage will at UOI’s option be settled based on the cost of repairing or replacing the lost or damaged Insured Property with similar property having similar function or output without any deduction for wear, tear or depreciation except stock in trade.
Any repair or replacement must be commenced and carried out within a reasonable time and in any case, must be completed within 12 months after the loss or damage, or within such further time as UOI may in writing allow; otherwise no payment beyond the amount which would have been payable under this Section shall be made.
It is hereby agreed and declared that the insurance under Section 1 shall, subject to the Special Conditions hereinafter contained, extend to include loss or damage to the insured property (by fire or otherwise) directly caused by aircraft and other aerial devices and/or articles dropped therefrom.
Provided always that all the conditions of the Policy shall apply as if they had been incorporated herein and for the purposes hereof any loss or damage as aforesaid shall be deemed to be loss or damage by fire.
The insurance under Section 1 is extended to include loss of or damage to the insured property directly caused by bursting or overflowing of water tanks, apparatus or pipes from within the building insured or containing the insured property but excluding:
Provided that all the conditions of the Policy shall apply as if they had been incorporated herein and for the purposes hereof any loss or damage as aforesaid shall be deemed to be loss or damage by fire.
In consideration of the payment by the Insured to UOI of an additional premium it is hereby agreed that notwithstanding anything stated to the contrary in General Exclusions 1(a), 1(b) and 1(c) of the Policy this insurance covers loss or damage by fire occasioned by or through or in consequence of earthquake and volcanic eruption and/or hurricane, cyclone, typhoon and windstorm. It is agreed that in every case of loss or damage the Insured must prove that no part of the loss or damage claimed for was caused otherwise than by fire.
In consideration of the payment of an additional premium by the Insured to UOI, UOI agrees that notwithstanding anything stated to the contrary General Exclusions 1(a), 1(b) and 1 (c) of the Policy this insurance covers loss or damage (other than loss or damage by fire) directly caused by earthquake, volcanic eruption, hurricane, cyclone, typhoon, windstorm & flood (including overflow of the sea) caused by any of the aforementioned perils, subject to the following Excess Clause and Special Conditions.
Provided always that all the Conditions of the Policy shall apply (except insofar as they may be hereby expressly varied) and that any reference therein to loss or damage by fire shall be deemed to apply also to loss or damage directly caused by any of the perils which this insurance extends to include by virtue of this endorsement.
It is understood and agreed that as regards loss or damage (other than by fire) to any buildings hereby insured directly caused by any peril to which this Clause is herein before stated to apply, UOI’s liability shall be limited to its ratable proportion of the amount by which such loss or damage exceeds either
whichever shall be the less.
It is further agreed that this Clause shall apply separately to:
In consideration of the payment by the Insured to UOI of an additional premium it is hereby agreed and declared that the insurance under Section 1 shall extend to include loss or damage to the property described in the Schedule directly caused by:
Flood, which for the purposes of this extension shall mean the overflowing or deviation from their normal channels of either natural or artificial water courses, bursting or overflowing of public water mains and any other flow or accumulation of water originating from outside the building insured or containing the insured property, but excluding
It is hereby agreed and declared that the insurance under Section 1 shall, subject to the Special Conditions hereinafter contained, extend to include :-
Loss or damage to the insured property by fire or otherwise directly caused by explosion, but excluding loss of or damage to boilers, economisers, or other vessels, machinery or apparatus in which pressure is used or their contents resulting from their explosion.
Provided always that all the conditions of this Section (except insofar as Exception 2(g) under Section 1 is hereby expressly varied) shall apply as if they had been incorporated herein and for the purpose hereof any loss or damage by explosion as aforesaid shall be deemed to be loss or damage by fire within the meaning of Section 1.
In consideration of the payment of an additional premium by the Insured to UOI, it is hereby agreed and declared that the insurance under Section 1 shall extend to include loss or damage to the property described in the Schedule and/or to any walls, gates and fences around and pertaining thereto directly resulting from, impact by any road vehicles horses or cattle not belonging to or under the control of the Insured, or any member of his family, or any person in and upon the Insured's service, provided that the first S$50.00 of each and every loss under this endorsement shall be borne by the Insured.
It is hereby agreed and declared that notwithstanding anything in the within written Policy contained to the contrary the insurance under Section 1 shall extend to cover Riot and Strike damage which for the purpose of this endorsement shall mean (subject always to the Special Conditions hereinafter contained)
Loss of or damage to the insured property directly caused by:
Provided nevertheless that UOI is not relieved under (c) or (d) above of any liability to the Insured in respect of physical damage to the insured property occurring before dispossession or during temporary dispossession.
It is hereby agreed and declared that the insurance under the said Riot and Strike Endorsement shall extend to include malicious damage which for the purpose of this extension shall mean
Loss of or damage to the insured property directly caused by the malicious act of any person (whether or not such act is committed in the course ofa disturbance ofthe public peace) not being an act amounting to orcommitted in connectionwith an occurrence mentioned in General Exclusion 1(a) and 1(b) of the said riot and strike endorsement.
But UOI shall not be liable under this extension for any loss or damage by fire or explosion nor for any loss or damagearising out of or in the course of burglary, housebreaking, theft or larceny orany attempt thereat or caused by any persontaking part therein.
Provided always that all the conditions and provisos of the said Riot and Strike Endorsement shall apply to this extension as if they had been incorporated herein.
It is hereby agreed and declared that the insurance under Section 1 shall extend to cover Sprinkler Leakage which shall mean destruction or damage caused by water accidentally discharged or leaking from the automatic sprinkler installation provided that the leakage is not a result of the following causes:
If the properties covered under Section 1 is lost or damaged by the perils insured and the loss or damage results in the interruption of or interference with the Insured’s business, UOI will pay the Insured for the amount specified in the Policy Schedule.
Loss payable under this Section shall be the amount of daily benefit as specified in the Schedule multiplied by the actual number of days the Insured’s business is totally suspended from operation but subject to a maximum of 60 days.
No indemnity shall be payable if the damaged or destroyed property is not rebuilt, repaired or replaced or the interruption period is less than 1 day.
We will extend and pay for loss and/or damage as defined below up to the Limits of Indemnity stated hereunder subject to the terms and conditions of the Policy:
Loss as insured in this Section resulting from interruption of or interference with the Business in consequences of Damage to property in the vicinity of the premises which shall prevent or hinder the use thereof or access thereto, whether the property of the Insured shall be damaged or not, shall be deemed to be loss resulting from Damage.
Loss as insured by this Section resulting from interruption of or interference with the Business in consequence of damage to property at any electricity station or substations from which insured obtain electric current shall be deemed to be loss resulting from Damage.
Provided that, UOI shall not be liable for any loss under this extension unless the failure of electric current from such electricity station or sub-station exceed a continuous period of 24 hours and our liability under this Section shall apply only to such period in excess of 24 hours but subject to the maximum insured period stipulated in the Schedule.
Closure of the insured premises by the order of a competent public authority of Singapore due to:
UOI will indemnify the Insured against all sums which the Insured becomes legally liable to pay as damages if at any time during the period of insurance any employee in the Insured's immediate service shall sustain bodily injury by accident or disease arising out of and in the course of his employment by the Insured in the business and if the Insured shall be liable to pay compensation for such injury either under the legislation set out below or at common law and will in addition be responsible for all costs and expenses incurred with its consent in defending any claim for such compensation.
PROVIDED always that in the event of any change in the legislation or the substitution of other legislation thereof this Policy shall remain in force but the liability of the Company shall be limited to such sum as the Company would have been liable to pay if the legislation had remained unaltered.
The Company’s liability in respect of Common Law claims shall be limited to $10,000,000.00 for any one claim or series of claims arising out of one event.
Nothing in this Policy or any endorsement hereon shall affect:
under or by virtue of the Legislation.
BUT the Insured shall repay to the Company all sums paid by the Company which the Company would not have beenliable to pay but for the Legislation.
Work Injury Compensation Act (Cap. 354), amendments and re-enactment thereof and any regulations made thereunder.
The Company shall not be liable under this policy in respect of
UOI will indemnify the Insured against all sums which the Insured shall become legally liable to pay as damages in respect of
happening in connection with the Business and occurring during the Period of Insurance
UOI will also pay
UOI's liability for all claims shall not exceed the Limit of Indemnity stated in the Schedule in respect of one occurrence or series of occurrences consequent upon one original cause in respect of all bodily injury loss or damage and is unlimited in any one Period of Insurance in respect of all occurrences.
UOI will NOT pay for
It is hereby understood and agreed that this contract shall not apply to and does not cover any actual or alleged liability whatsoever for any claim or claims in respect of loss or losses directly or indirectly arising out of, resulting from or in consequence of asbestos in whatever form or quantity.
It is hereby understood and agreed that this insurance shall not indemnify the insured in respect of any claim or loss arising out of any activities and/or business conducted and/or transacted via the internet, intranet, extranet and/or via the insured's own website, internet site, web address and/or via the transmission of electronic mail or documents by electronic means.
UOI will indemnify the Insured for the cost of repairs to or replacement of the Electronic Data Processing (EDP) equipment caused by any unforeseen and sudden physical loss or damage from any cause other than those specifically excluded.
UOI will NOT pay for
UOI shall provide compensation in the event that such parts are affected by an indemnifiable loss of or damage to the Insured Property.
The Sum Insured is to be equal to the cost of replacement of the insured items by new items of the same kind and capacity, which means their replacement costs including, e.g., freight, customs duties and dues, if any, and erection cost.
In cases where damage to an insured item can be repaired, UOI shall pay expenses necessarily incurred to restore the damaged item to its former state of serviceability plus the cost of dismantling and re-erection incurred for the purpose of effecting the repairs as well as ordinary freight to and from a repair shop, customs duties and dues, if any, to the extent such expenses have been included in the Sum Insured. If the repairs are executed at a workshop owned by the Insured, UOI shall pay the cost of materials and wages incurred for the purpose of the repairs plus a reasonable percentage to cover overhead charges. No deduction shall be made for depreciation in respect of parts replaced, but the value of any salvage shall be taken into account. If the costs of repairs as detailed hereinabove equal or exceed the actual value of the insured items immediately before the occurrence of the damage, the settlement shall be made on the basis provided below.
In cases where an insured item is destroyed, UOI shall pay the actual value of the item immediately before the occurrence of the loss, including costs for ordinary freight, erection, customs duties and dues, if any, to the extent such expenses have been included in the Sum Insured. UOI shall also pay any normal charges for the dismantling of the item destroyed, but the value of any salvage shall be taken into account. The destroyed item shall no longer be covered under this Section, and all necessary data on the relevant substitute item shall be indicated for its inclusion in the Schedule. Any extra charges incurred for overtime, night work, work on public holidays or express freight shall be covered by this Section only if specially agreed in writing. The cost of any alterations, additions, improvements or overhauls shall not be recoverable under this Section. The costs of any provisional repairs shall be borne by UOI if such repairs constitute part of the final repairs and do not increase the total repair expenses. UOI shall make payments only after being satisfied by production of the necessary bills and documents that the repairs have been effected or replacement has taken place, as the case may be.
Maintenance Contract/Services shall be deemed to be defined as follows during the period of the Policy
The cost of such maintenance work shall not be covered within this Section.
If the specified external data media inclusive of the information stored thereon, suffer any Material Damage payable under Section 5A, UOI will pay the Insured in respect of expenses incurred up to an amount not exceeding that stated in the Schedule for reconstruction and re-recording of such information.
UOI will NOT be liable for
The Sum Insured is to be equal to the amount required for restoring the insured external data media by replacing lost or damaged data media by new material and reproducing lost information.
UOI shall pay for any expenses that can be proven to have been incurred by the Insured within a period of 12 months as from the date of the occurrence strictly for the purpose of restoring the insured external data media to a condition equivalent to that existing prior to the occurrence and necessary for permitting data processing operations to be continued in the normal manner.
If it is not necessary to reproduce lost data or information, or if such reproduction is not effected within 12 months after the occurrence, UOI shall only be liable to pay for the expenses incurred for replacing the lost or damaged data media themselves by new material.
The Total Sum Insured will not be reduced by the amount of a loss provided that the Insured pays or agrees to pay any additional Premium that may be required.
It is hereby declared and agreed that notwithstanding anything contained herein this Insurance will not be prejudiced by any inadvertent delays errors or omissions in notifying UOI of any circumstances or events giving rise or likely to give rise to a claim under this Section, subject to the Insured notifying UOI immediately when such circumstances or events is known to the insured.
UOI will pay the Insured in respect of Costs incurred by the Insured in taking reasonable but exceptional measures to avoid or mitigate impending loss or damage indemnifiable by this Section.
Subject always to the amount recoverable being limited to the amount of the loss or damage avoided or reduced calculated in accordance with the terms of Section 5A and limited always to the Sum Insured as stated in the Schedule.
UOI will indemnify the Insured against loss of or damage to Money occurring during the Period of Insurance up to the amount stated in the Schedule
UOI will NOT pay for
The liability of UOI in respect of any occurrence or series of occurrences arising from or attributed to one source or original cause shall not exceed the amount stated in respect of each item in the Schedule.
The Insured shall keep a daily record of the amount of Money contained in the locked safe, strongroom, drawer and cabinet and that such record shall be deposited in a secured place other than the locked safe, strongroom, drawer and cabinet. This is required as documentary evidence in the event of a claim.
This Section is extended to indemnify the Insured against loss of or damage to the money insured directly consequent upon assault violence or threat of violence upon the Insured's employee(s).
The total sum insured will not be reduced by the amount of a loss provided that the Insured pays or agrees to pay any additional premium that may be required.
UOI will pay for loss or damage to safe/strongroom up to S$500 following theft or an attempted theft of Money.
It is hereby declared and agreed that the Limit of Liability for Any One Loss in respect of money on the Premises after business hours contained in locked drawer/cabinet/cash register is limited to S$1,000.
It is hereby declared and agreed that the Limit of Liability for Any One Loss in respect of money on the Premisesoutside locked safe/drawer and cabinet shall be limited to S$500.
UOI will indemnify the Insured for loss of Money (that is cash currency notes or coins bank notes or cheques money orders postal orders, or current unused stamps, vouchers, tickets) or other property, belonging to the Insured or for which the Insured is legally responsible as a direct result of any act of fraud or dishonesty committed by an Insured Employee which occurs during the Period of Insurance and during the uninterrupted service of the Insured Employee with the Insured and is discovered and notified to UOI.
Up to the Amount Guaranteed shown in the Schedule.
All losses in respect of the one event or series of events arising from the one source or original cause, as a direct result of any act of fraud or dishonesty committed during the Period of Insurance shall be deemed to be one event.
The Amount Guaranteed is reduced by any payment made or due to be made under this Section during any one Period of Insurance.
UOI will NOT pay
"Insured employee" will mean any person employed by or apprenticed to or Executive Director or officer of the Insured who the Insured has the right to direct in the course of the Business.
Once the Insured becomes aware of or has reason to suspect an Insured Employee has committed an act of fraud or dishonesty, UOI will not be liable for any further loss due to any act of fraud or dishonesty committed by such Insured Employee after such discovery.
This Section does not cover any company or other legal entity acquired by the Insured during the Period of Insurance unless it has been reported to UOI.
UOI will not be liable for losses where the Insured is unable to identify the Insured Employee responsible.
Following an Insured loss the Insured will to the extent allowed by law, retain all monies and other assets due to the Insured Employee which caused the Insured event and will treat such monies or assets as a deduction from the claim.
This Section is extended to indemnify the Insured in respect of Auditors Fees necessarily incurred by the Insured with the consent of the Insurers in substantiating the amount of claim.
The liability of the Company under this extension is limited to the sum of S$1,000.
UOI will indemnify the Insured by payment or at the option of UOI by repair reinstatement or replacement against loss of or damage to the insured property by theft following forcible means or any attempt thereat.
This Section does not cover loss or damage
It is hereby declared and agreed that this Section is extended to cover the risks of armed robbery and hold-up at the Insured's Premises.
The Total Sum Insured will not be reduced by the amount of a loss provided that the Insured pays or agrees to pay any additional Premium that may be required.
UOI will indemnify the Insured by payment or at its option by reinstatement against the breakage of Glass Insured, including the reasonable cost of any necessary boarding up incurred in consequence of such breakage.
UOI will not indemnify the Insured against
The Glass Insured shall be deemed to be plain unless otherwise specified and shall be taken to be replaced by glass of usual thickness or substance.
The Glass Insured is only covered whilst it remains in the position in which it is fixed and provided no step is taken to remove such Glass, change its position or carry out any work or alteration to it or its framework beadings or other fittings. Showcases may be removed in the same premises provided the Glass Insured therein remains in its fixed position but UOI shall not be liable for breakage during such removal.
Notwithstanding anything contained in Exception 2(b) to the contrary, this Policy extends to cover reasonable costs incurred in the removal and reinstatement of frames and frameworks in the event of a loss where such removal is necessary to effect replacement of any broken glass upto Sum Insured.
Applying to all Sections
This Contract does not cover loss, damage, injury or liability directly or indirectly caused by, related to or in consequence of:
Provided that UOI shall not be relieved of any liability to the Insured in respect of physical damage to the insured property occurring before dispossession or during temporary dispossession which is otherwise covered by this Section.
In any action suit or other proceeding where UOI alleges that by reason of the provisions of Exclusion 1(a), 1(b) and 1(c) above any loss destruction or damage is not covered by this insurance the burden of proving that such loss destruction or damage is covered shall be upon the Insured.
It is hereby understood and agreed that this Policy does not cover any loss of or damage directly or indirectly caused by or consisting of or arising from the failure or inability of any computer, electronic equipment, data processing or media, microchip, embedded chip, integrated circuit or similar device, or firmware or any computer software whetherthe property of the Insured or not, occurring at any time to:
But this shall not exclude subsequent loss of or damage not otherwise excluded, which itself results from a defined peril.
The words “defined peril” shall mean fire, lightning, explosion, aircraft or other aerial devices or articles dropped therefrom, riot and strike, malicious damage, earthquake, storm, flood, escape of water from any tank apparatus or pipe or impact by any road vehicle or animal where such loss of or damage is insured by the Policy.
This Contract does not cover loss, damage, injury or liability arising from any alteration in the trade or processes carried on at the Premises or in the nature of the occupation or other circumstances affecting the Insured Property in such way as to increase the risk of loss or damage unless UOI has first been notified of any such alteration and the Insured has agreed to pay any additional premium as may be required by UOI.
Property Damage covered under this Policy shall mean physical damage to the substance of property.
Physical damage to the substance of property shall not include damage to data or software, in particular any detrimental change in data, software or computer programs that is caused by a deletion, a corruption or a deformation of the original structure.
Consequently the following are excluded from this Policy:
Notwithstanding any provision to the contrary within this insurance or any endorsement thereto it is agreed that this insurance excludes any loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss.
For the purpose of this exclusion an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.
This exclusion also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism.
If the Company allege that by reason of this exclusion, any loss, damage, cost or expense is not covered by this insurance the burden of proving the contrary shall be upon the Insured.
In the event any portion of this exclusion is found to be invalid or unenforceable, the remainder shall remain in full force and effect.
It is hereby understood and agreed that a person who is not a party to this Policy contract shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of its terms.
Subject otherwise to the terms and conditions of this Policy.
Any word or expression which is given a specific meaning in this Contract will have that meaning wherever it may appear.
The Insured will take all reasonable precautions to avoid and minimise injury, loss or damage and to comply with all statutory obligations and By-Laws or regulations imposed by any Public Authority for the safety of persons or property.
The observance and fulfilment of these Conditions and the other terms of the Contract by the Insured are Conditions precedent to any liability of UOI to make any payment under this Contract.
On the happening of any event likely to give rise to a claim under this Contract the Insured will
UOI has the right to negotiate, defend or settle in the name of and on behalf of the Insured any claim made under this Contract and to exercise for its own benefit any legal right of recovery held by the Insured. The Insured or any other person covered under this Contract will give to UOI such information and assistance as UOI may reasonably require.
Provided that liability has been admitted, UOI will make reasonable progress payments on account of any claim to the Insured at such intervals and for such amounts as may be agreed.
If a claim is in any respect fraudulent or if any fraudulent means or devices are used by the Insured or anyone acting on the Insured's behalf to obtain benefit under this Contract, or if any loss, damage or injury is occasioned by the wilful act or with the connivance of the Insured, all benefit under this Contract will be forfeited.
If at the time of loss or damage the Sum Insured does not represent the full cost of replacing all of the Insured Property at that time, including additional fees and costs which would be payable in connection with such replacement, then the Insured shall be considered as being their own insurer for the difference between the Sum Insured and the sum representing the actual cost of replacing the Insured Property including the additional fees and costs referred to above and shall bear a rateable proportion of the loss accordingly.
Every item, if more than one, of this Policy shall separately be subject to this Condition.
The Insured will give written notice to UOI as soon as practicable of any other insurance or insurances effected by the Insured, or by any other person which may indemnify the Insured for loss or damage covered under this Contract.
If at the time of any loss under this Policy there be any other subsisting insurance or insurances whether effected by the Insured or by any other person or persons covering such loss or any part thereof UOI shall not be liable to pay to contribute more than its rateable proportion of such loss.
No admission offer promise or payment shall be made by or on behalf of the Insured without the written consent of UOI. UOI shall be entitled if it so desires to take over and conduct in the Insured's name the defence or settlement of any claim or to prosecute in the Insured's name for its own benefit any claim for indemnity or damages or otherwise and shall have full discretion in the conduct of any proceedings and in the settlement of any claim and the Insured shall give such information and assistance as UOI may require.
Both the Insured and the Company may cancel this Policy by sending thirty days' notice by registered letter to either party at his last known address in which event the Insured shall receive a pro rata return of premium for the unexpired period of insurance or the Company shall charge a minimum amount of S$50.00 as the case may be.
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 for the time being in force. Where any difference is by this condition to be referred to arbitration the making of an award shall be a condition precedent to any right of action against UOI.
You have a free-look period of 14 business days from the date that you receive this Policy to review it. You are deemed to have received the Policy within 3 business days after we have despatched it. If you decide that this Policy does not suit your needs, you may request to cancel it by giving us clear, written instructions and returning the Policy to us within the free-look period. Provided that no claims have been made during this period, we shall refund the premiums paid by you without interest. This free-look period shall not apply to policies with terms of less than 1 year. It will also not apply to policy renewals.