Pluvius Policy Wording

Transcription

1 Pluvius Policy Wording v12.15

2 Pen Underwriting Pty Ltd ABN AFSL Our name comes from the expression to pass the pen. It reflects what we do and what we bring to the insurance industry specialist expertise and quality underwriting. We strive to exceed the expectations of brokers by providing professional and flexible solutions for their clients risks across a wide range of major and boutique general insurance products. Contents 1. Important Information 1 2. Insuring Clause 2 3. Perils 2 4. Definitions 2 5. Conditions Precedent 3 6. Warranties 3 7. General Conditions 4 8. Exclusions 4 9. Claims Procedure 6 Level 9, 60 Edward St Brisbane Qld 4000 GPO Box 541 Brisbane Qld 4001 Level 3, 333 Collins St Melbourne Vic 3000 PO Box 230 Collins St West Vic 8007 Contact Details: Current as at December 2015 BRISBANE P: F: MELBOURNE P: F: Level 19, 347 Kent St Sydney NSW 2000 GPO Box 4431 Sydney NSW 2001 SYDNEY P: F: E: info@penunderwriting.com W:

3 1. Important Information 1.1 This Policy This Policy is an important document and should be kept in a safe place. Please read it carefully so that you understand the insurance provided. 1.2 Your duty of disclosure Before you enter into an insurance contract, you have a duty to tell us anything that you know, or could reasonably be expected to know, may affect our decision to insure you and on what terms. You have this duty until we agree to insure you. You have the same duty before you renew, extend, vary or reinstate an insurance contract. You do not need to tell us anything that: reduces the risk we insure you for; or is common knowledge; or we know or should know as an insurer; or we waive your duty to tell us about. 1.3 If you do not tell us something If you do not tell us anything you are required to, we may cancel your contract or reduce the amount we will pay you if you make a claim, or both. If your failure to tell us is fraudulent, we may refuse to pay a claim and treat the contract as if it never existed. 1.4 GST The Premium includes an amount for GST. Underwriters liability to indemnify the Insured under this Policy is calculated less any Input Tax Credit to which the Insured is entitled for any relevant Acquisition, or to which the Insured would have been entitled had it made a relevant Acquisition. The Insured must inform Underwriters of the extent to which it is entitled to an Input Tax Credit for that GST, and any GST liability arising from the Insured s provision of incorrect advice is payable by the Insured. GST, Input Tax Credit and Acquisition have the meaning given to those words in A New Tax System (Goods and Services Tax) Act Privacy Pen Underwriting handles your personal information with care and in accordance with the Privacy Act 1988 and the Australian Privacy Principles. We collect personal information about you to provide you with insurance and insurance related services. We may disclose your personal information to third parties for the purposes described in our Privacy Policy, including related entities, insurers, reinsurers, agents and service providers, some of whom may be located in the United Kingdom and India. By asking us to provide you with insurance and insurance related services, you consent to the collection, use and disclosure (including overseas disclosure) of your personal information for the purposes described in our Privacy Policy. Where you provide personal information about others, you represent to us that you have made them aware of that disclosure and of our Privacy Policy and that you have obtained their consent. If you do not consent to provide us with the personal information that we request, or withdraw your consent to the use and disclosure of your personal information at any stage, we may not be able to offer you the products or provide the services that you seek. For information about how to access and or correct the personal information we hold about you or if you have any concerns or complaints, ask us for a copy of our Privacy Policy or visit Complaints Handling If you are dissatisfied with a decision Pen Underwriting makes, our service, the service of others we appoint to discuss insurance matters with you, or a claim settlement, we have an internal dispute resolution process to assist you. For further information, ask for a copy of our Complaints and Disputes Resolution Policy or visit General Insurance code of Practice Pen Underwriting and Underwriters at Lloyd s proudly support the General Insurance Code of Practice. The Code commits general insurers to uphold high standards of service and practice. A copy of the Code can be obtained from us upon request or from Australian Terrorism Insurance Act The Underwriters have treated this insurance (or part of it) as an insurance to which the Australian Terrorism Insurance Act 2003 (ATIA) applies. ATIA and the supporting regulations made under the Act deem cover into certain policies and provide that the Terrorism Exclusion to which this Policy is subject shall not apply to any eligible terrorism loss as defined in ATIA. Any coverage established by ATIA is only in respect of any eligible terrorism loss resulting from a terrorist act which is a declared terrorist incident as defined in ATIA. The Terrorism Exclusion to which this Policy is subject applies in full force and effect to any other loss and any act or event that is not a declared terrorist incident. All other terms, conditions, insurance coverage and Exclusions of this Policy including applicable limits and excesses remain unchanged. If any or all of the Underwriters have reinsured this Policy with the Australian Reinsurance Pool Corporation, then any such Underwriters will not be liable for any amounts for which they are not responsible Page 1

4 under the terms of ATIA due to the application of a reduction percentage as defined in ATIA which results in a cap on the Underwriter s liability for payment for eligible terrorism losses. 1.9 Further Information Your insurance broker has arranged this insurance on your behalf. If you have any questions or need further information concerning your insurance, you should contact your insurance broker to assist you with your enquiry. You should direct all of your correspondence to us through your insurance broker as he is your agent for this insurance Agreement In consideration of the payment of the Premium and in reliance on the contents of the Proposal, Underwriters will indemnify the Insured in accordance with the terms of this Policy. 2. Definitions Wherever used in this Policy, the following definitions shall apply to certain words and phrases, either singular or plural, identified in all capital letters. 2.1 Abandoned means the inability of the Insured to complete the Insured Event(s) once commenced. 2.2 Cancelled means the inability to proceed with the Insured Event(s) prior to commencement. 2.3 Event Location means the places(s) stated in the Schedule where the Insured Event(s) is to be held. 2.4 Insured means the party(ies) or person(s) as stated in the Schedule. 2.5 Insured Event(s) means the event or events stated in the Schedule. 2.6 Insured Peril(s) means the measurement of weather perils, as stated in the Schedule. 2.7 Insured Period means the exact hours and date on which the Insured Peril(s) must occur, as stated in the Schedule. 2.8 Net Loss means the difference between the Sum Insured representing historic average gate receipts and the actual gate receipts achieved at the Insured Event(s). 2.9 Precipitation means rain, sleet, snow, hail or other precipitation that reaches the ground and as defined by the Bureau of Meteorology in the territory of the Event Location Terrorism means an unlawful act, including but not limited to the use of force or violence, 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 Weather Observer means the independent weather observer approved by the Underwriter and stated in the Schedule Weather Station means the designated meteorological weather station stated in the Schedule at which the recording of the Insured Peril(s) will take place. 3. Insuring Clause Subject always to: 1) the terms, conditions, limitations and exclusions contained in or endorsed on this Policy, and 2) in consideration of the payment of premium as stated in the Schedule, the Underwriters herby agree to indemnify the Insured for its Net Loss solely and directly caused as a result of an Insured Peril(s) occurring during the Insured Period at the Event Location as recorded and reported by the Weather Station or Weather Observer and after all savings in expenditure and recoveries of income have been effected. Provided that the liability of the Underwriters for all claims under this Policy shall not exceed in the aggregate the total Sum Insured as stated in the Schedule. The Underwriters shall have no liability under this Policy if the Insured Event(s) are Cancelled or Abandoned. 4. General Conditions 4.1 This Policy along with its Schedule and any endorsements that may be attached, shall be read together as one document and any word or expression to which a specific meaning has been attached shall have the same meaning wherever it appears. 4.2 In the event this Policy is cancelled by the Insured, the Insured shall not be entitled to any refund of premium. 4.3 The Underwriters may cancel this Policy in accordance with the provisions of the Insurance Contracts Act No other insurance shall be effected by the Insured to cover the interest insured under this Policy. 4.5 Any Insured Peril(s) other than Precipitation shall be defined by the Bureau of Meteorology in the territory of the Event Location, and be capable of being measured by the Weather Station or Weather Observer (as applicable). 4.6 The hours specified in the Insured Peril(s) section of the Schedule refer to the Standard Page 2

5 Time of the day at the Event Location. Where Daylight Savings time is in use, Standard Time shall mean Daylight Savings Time. 4.7 In the event that the weather recording at the designated Weather Station is not available, then a recording shall be taken from the nearest available meteorological weather station to the Insured Event(s). 4.8 This Policy may not be assigned in whole or in part without the prior written consent of the Underwriter. 5. Exclusions The Underwriters shall not be liable to indemnify the Insured in respect of any loss, directly or indirectly caused by, arising from or contributed to by: 5.1 any cause other than an Insured Peril(s) occurring during the Insured Period at the Event Location, as stated in the Schedule. 5.2 alterations or variance of Insured Event(s) without the prior written approval of the Underwriter. 5.3 any fraud, misrepresentation or concealment by the Insured. 5.4 any resultant changes in normal weather patterns caused by or resulting from, contributed to or made worse by nuclear reaction of nuclear radiation or radioactive contamination, all whether controlled or uncontrolled. 5.5 foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power. 5.6 civil commotion assuming the proportions of or amounting to a popular uprising, riot, martial law or the act of any lawfully constituted authority in the furtherance of maintaining public order. 5.7 seizure or destruction under quarantine or customs regulations, confiscation, nationalisation or requisition (other than requisition following a natural catastrophe) or destruction of or damage to property, by or under the order of any government or public or local authority, or the handling of contraband or the engaging in illicit trade or transportation. 5.8 the effects of: ionising radiation or contamination or radioactivity from any nuclear material, including nuclear waste and by-products, used in or resulting from the fission and / or fusion of nuclear fuel the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof nuclear reaction, nuclear radiation or radioactive contamination seepage and/or pollution and/or contamination unless it is discovered during the Period of Insurance and is a direct cause of a loss hereunder. 5.9 the actual or threatened malicious use of pathogenic or poisonous biological or chemical materials regardless of any other cause or event contributing, concurrently or in any other sequence, thereto any act of Terrorism and / or the threat (whether actual or perceived) or fear thereof regardless of any other cause or event contributing concurrently or in any sequence to the loss any loss resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of Terrorism or fear thereof or in any way involving: asbestos, or any materials containing asbestos in whatever form or quantity; or the actual, potential, alleged or threatened formation, growth, presence, release or dispersal of any fungi, moulds, spores or mycotoxins of any kind; or any action taken by any party in response to the actual, potential, alleged or threatened formation, growth, presence, release, or dispersal of fungi, moulds, spores or mycotoxins of any kind, such action to include investigating, testing for, detection of, monitoring of, treating, remediating or removing such fungi, moulds, spores or mycotoxins; or any government or regulatory order, requirement, directive, mandate or decree that any party take action in response to the actual, potential, alleged or threatened formation, growth, presence, release, or dispersal of fungi, moulds, spores or mycotoxins of any kind, such action to include investigating, testing for, detection of, monitoring of, treating, remediating or removing such fungi, moulds, spores or mycotoxins The Underwriters shall not be deemed to provide cover and shall not be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such Page 3

6 benefit would expose that Underwriter to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom, Australia or United States of America. If the Underwriters allege that by reason of any of the Exclusions above, any loss is not covered by this Policy, the burden of proving the contrary shall be upon the Insured. 6. Conditions Precedent The following are conditions precedent to the Underwriter s liability under this Policy. The Insured shall: 6.1 at all times observe and comply with the terms and conditions and endorsements (if any) of this Policy. 6.2 maintain accurate records and account of all expenditure and liability incurred or monies received in connection with the EVENT and shall permit the Underwriter at all reasonable times to have free access to such records and, in the event of a claim, give all information, explanations and assistance as the Underwriter may reasonably require. c) provide any evidence information and assistance as required and a statutory declaration of the truth if requested by the Underwriter. 7.2 The Insured will allow the Underwriters to enter any premises where a loss has arisen and will allow the Underwriters the sole conduct and control of claims. The Underwriters may at their discretion take over the defence and settlement of any claim at any time in the name of the Insured and may take legal proceedings in the name of the Insured to recover for the Underwriters benefit any payments or costs or secure an indemnity from any other party. 7.3 The Insured must at the request and expense of the Underwriters take or permit to be taken all necessary steps to enforce rights against any other party whether or not any payment has been made under this Policy. 6.3 take all reasonable care and precautions to prevent any claim and minimise the loss arising in connection with any claim. 6.4 as soon as possible notify the Underwriter of any change of fact or circumstance which affects the Event insured under this Policy. 6.5 The Insured shall at all times do and concur in doing all things necessary to avoid or diminish a loss under this Policy. 6.6 The Insured shall not include in any claim made under this Policy the premium or any costs incurred in the preparation of such claim. 7. Claims Procedure 7.1 The Insured must: a) notify Underwriters immediately of any occurrence which may result in a claim under this Policy and thereafter confirm in writing full details of the claim at the Insured s own expense. All claims should be addressed to: Pen Underwriting GPO Box 541 Brisbane QLD claims.au@penunderwriting.com b) report to the Police immediately any theft or attempted theft or threat of violence vandalism or malicious damage or other loss of property, including money Page 4