Property Damage All Risks Section

Transcription

1 Property Dmge All Rsks Seton Defntons Dmge/Dmged Adentl loss or destruton of or dmge to Property Insured. Spefed Events Fre, lghtnng, exploson, rrft or other erl deves or rtles dropped from them, rot, vl ommoton, strkers, loked-out workers, persons tkng prt n lour dsturnes, mlous persons other thn theves, erthquke, storm, flood, espe of wter from ny tnk pprtus or ppe or mpt y ny rod vehle or nml. Premses The Buldngs t the ddress or ddresses shown n the Shedule, nludng ther grounds, ll wthn the oundres for whh the Insured re responsle nd eng, unless more speflly desred n the Shedule, ouped y the Insured for the purpose of the Busness. Property/Property lnsured Buldngs, Contents, Stok nd other tems shown nd/or desred n the Shedule. The Insurer grees to ept the hedng under whh ny Property or other tem hs een entered n the ooks of the Insured. Buldngs The uldngs shown n the Shedule nludng lndlord s fxtures nd fttngs, fxed glss nd fxed sntry wre n or on or pertnng to the uldngs wlls, gtes nd fenes nd so fr s they re not otherwse nsured smll outsde uldngs, nnexes, gngwys, onvenenes nd other strutures extensons ommuntng wth the uldngs rods, r prks, yrds, pved res, pvements nd footpths uldng mngement nd seurty systems fuel tnks nd ther nllry equpment nd ppe work wnd turnes nd solr pnels tthed to the uldngs lndspng nd reretonl fetures nludng ornments nd sttues 1

2 Contents Mhnery, plnt nd ll other ontents elongng to the lnsured or held y the lnsured n trust nd for whh the lnsured re responsle (other thn lndlord s fxtures nd fttngs, Stok nd other Property speflly desred n the Shedule) whlst n or on the uldngs, nludng tennts mprovements, ltertons nd deortons ontents n the open yrds Money, for n mount not exeedng 1,000 n totl deeds, douments, mnusrpts nd usness ooks, ut only for the ost of the mterls nd lerl lour expended n reprodung suh reords omputer systems reords, ut only for the ost of the mterls nd of lerl lour nd omputer tme expended n reprodung suh reords rre ooks or works of rt for n mount not exeedng 5,000 ny one rtle or 10,000 n totl too, wnes nd sprts held for usness entertnment purposes for n mount not exeedng 1,000 n totl the ontents of fuel tnks t the Premses for n mount not exeedng 2,000 nd so fr s they re not otherwse nsured prtners, dretors, nd employees personl effets of every desrpton (other thn motor vehles), for n mount not exeedng 1,000 for ny one person Stok Stok nd mterls n trde elongng to the lnsured or held y the lnsured n trust nd for whh the lnsured re responsle, whlst n the Buldngs or n the open yrds. Money Csh, nk nd urreny notes, heques, rossed nkers drfts, postl orders, lunheon vouhers, urrent postge stmps, trdng stmps, Ntonl Insurne stmps, Holdy wth Py stmps, Ntonl Svngs stmps, Ntonl Svngs ertftes, Premum Bonds, redt sles vouhers or reepts, VAT purhse nvoes, unexpred unts n frnkng mhnes, gft tokens nd onsumer redempton vouhers elongng to the lnsured or for whh the lnsured re responsle. Unouped Any uldng or prt of ny uldng tht s unfurnshed untennted empty or no longer n tve use for perod exeedng 30 onseutve dys. Contrt Works The permnent nd temporry works undertken y or on ehlf of the Insured for the purpose of lterton or mprovement to the Premses nludng ll unfxed mterls nd goods, for whh the Insured re responsle nd whether suppled free of hrge or not, delvered to or pled on or djent to the permnent nd temporry works nd ntended for norporton n them n performne of the ontrt t the Premses spefed n the Shedule, exludng ny tools, ontrtors plnt nd equpment, ste huts nd other temporry ommodton nd ther ontents elongng to the Insured or hred y them under hrng greement, hre purhse, lese greement or on free lon. 2

3 Cover The Insurer wll py the Insured for Dmge to Property Insured t the Premses shown n the Shedule, exludng 1 Dmge used y or onsstng of nherent ve, ltent defet, grdul deterorton, wer nd ter, frost, hnge n wter tle level, ts own fulty or defetve desgn or mterls the urstng of ny oler (not eng oler used for domest purposes only), eonomser or other vessel, mhne or pprtus elongng to the Insured or under the ontrol of the Insured n whh nternl pressure s due to stem only pressure wves used y rrft or other erl deves trvellng t son or superson speeds ut the Insurer wll py for susequent Dmge whh tself results from use not otherwse exluded d e fulty or defetve workmnshp y the Insured or ny employee of the Insured opertonl error or omsson y the Insured or ny employee of the Insured ut the Insurer wll py for suh Dmge not otherwse exluded whh tself results from Spefed Event susequent Dmge whh tself results from use not otherwse exluded f ts of frud or dshonesty y ny prtner, dretor or employee of the Insured ut the Insurer wll py for suh Dmge not otherwse exluded whh tself results from Spefed Event. 2 Dmge used y or onsstng of orroson, rust, wet or dry rot, shrnkge, evporton, loss of weght, dmpness, dryness, mrrng, srthng, vermn or nsets hnge n temperture, olour, flvour, texture or fnsh theft or ttempted theft whh does not nvolve entry to or ext from uldng or prt of uldng t the Premses y forle nd volent mens or hold-up y volene or thret of volene to the Insured or ny prtner, dretor or employee of the Insured or ny other person who hs legl rght to e on the Premses to property n the open or n open fronted Buldngs or n Buldngs not on permnent foundtons expedted or n ny wy rought out y the Insured or ny prtner, dretor or employee of the Insured or Dmge onsstng of d jont lekge, flure of welds, rkng, frturng, ollpse or overhetng of olers, eonomsers, superheters, pressure vessels or ny rnge of stem nd feed ppng onneted to them 3

4 e mehnl or eletrl rekdown or derngement n respet of the prtulr mhne, pprtus or equpment n whh suh rekdown or derngement orgntes ut the Insurer wll py for suh Dmge not otherwse exluded whh tself results from Spefed Event or from ny other dentl loss, destruton or dmge susequent Dmge whh tself results from use not otherwse exluded. 3 loss, destruton or dmge used y polluton or ontmnton, ut the Insurer wll py for destruton or dmge to the Property Insured not otherwse exluded, used y polluton or ontmnton whh tself results from Spefed Event ny Spefed Event whh tself results from polluton or ontmnton. 4 Dmge used y or onsstng of: susdene, ground heve or lndslp n respet of wlls, gtes, fenes, rods, r prks, yrds, foreourts, ptos, pvements, footpths nd smlr hrd surfed res unless overed y ths Seton nd uldng overed y ths Seton s Dmged y the sme use t the sme tme resultng from the settlement or movement of mde up ground ostl or rver eroson defetve desgn or workmnshp or the use of defetve mterls v whh ommened pror to the nepton of ths over ourrng s result of demolton, onstruton, struturl lterton or repr of ny Property, or s result of ground works or exvton, t the sme Premses norml settlement or eddng down of new strutures dspperne, unexplned or nventory shortge or the msflng or msplng of nformton. 5 destruton of or dmge to ny Buldng or struture used y ts own ollpse or rkng, ut the Insurer wll py for suh destruton or dmge resultng from Spefed Event n so fr s t s not otherwse exluded. 6 Dmge n respet of ny Buldng whh s Unouped used y freezng espe of wter from ny tnk, pprtus or ppe mlous persons not tng on ehlf of or n onneton wth ny poltl orgnston, ut the Insurer wll py for suh Dmge used y fre or exploson. 7 Dmge n respet of fenes, gtes nd movele Property n the open used y wnd, rn, hl, sleet, snow, flood or dust. 8 Dmge to ny Property 4

5 used y fre, resultng from ts undergong ny hetng proess or proess nvolvng the pplton of het resultng from ts undergong ny proess of produton, pkng, tretment, testng, ommssonng, serve or repr, ut the Insurer wll py for suh Dmge used y fre or exploson. 9 Dmge n respet of d jewellery, preous stones or preous metls, ullon, furs, urostes, works of rt or rre ooks (other thn n respet of Dmge to suh property defned s Contents, provded tht Contents re speflly stted s nsured n the Shedule nd the Dmge s not otherwse exluded) Property n trnst glss (other thn fxed glss), sntrywre (other thn fxed sntrywre), hn, erthenwre, mrle or other frgle or rttle ojets Money (other thn n respet of Dmge to suh property defned s Contents, provded tht Contents re speflly stted s nsured n the Shedule nd the Dmge s not otherwse exluded),onds or seurtes of ny desrpton ut the Insurer wll py for suh Dmge used y Spefed Event n so fr s t s not otherwse exluded. 10 Dmge to d vehles lensed for rod use (nludng essores on them), rvns, trlers, rlwy loomotves, rollng stok, wterrft or rrft Property or strutures n ourse of onstruton or ereton nd mterls or supples n onneton wth ll suh Property or strutures lnd, pers, jettes, rdges, ulverts or exvtons lvestok growng rops or trees ut the Insurer wll py for suh property speflly desred n the Shedule. 11 Property whh t the tme of the hppenng of Dmge s nsured y or would ut for the exstene of ths Seton e nsured y ny mrne poly or poles, ut the Insurer wll py for ny exess eyond the mount whh would hve een pyle under suh mrne poly or poles hd ths Seton not een effeted. 12 ny Property more speflly nsured y or on ehlf of the Insured. 13 Dmge osoned y ntonlston, onfston, requston, sezure or destruton y the Government or ny pul uthorty. 14 onsequentl loss or dmge of ny knd or desrpton, exept loss of rent when suh loss s nsured y ths Seton. 5

6 15 Dmge dretly or ndretly used y or onsstng of or rsng from the flure of ny omputer or other equpment or system for proessng, storng or retrevng dt, whether the property of the Insured or not, to heve ny or ll of the purposes nd onsequentl effets ntended y the use of ny numer to denote dte nludng the flure orretly to reognse ny dte s ts true lendr dte to reognse, pture, sve, retn, restore nd/or orretly to mnpulte, nterpret, lulte or proess ny dt or nformton or ommnd or nstruton s result of tretng ny dte otherwse thn s ts true lendr dte to reognse, pture, sve, retn, restore nd/or orretly to mnpulte, nterpret, lulte or proess ny dt or nformton s result of the operton of ny ommnd whh hs een progrmmed nto ny omputer softwre or frmwre, eng ommnd whh uses the loss of dt or the nlty to reognse, pture, sve, retn, restore or orretly to mnpulte, nterpret, lulte or proess ny dt on or fter ny dte ut the Insurer wll py for susequent Dmge whh s not otherwse exluded nd whh tself results from Spefed Event 16 fter the pplton of ll other terms nd ondtons of ths Seton nd the Poly nludng ny Undernsurne (Averge) Bss of Settlement Adjustment, nd n respet of eh seprte Premses, the mount of the Exess spefed n the Shedule. Bss of Settlement The lnsurer wll py the lnsured the vlue of the Property lnsured t the tme of ts loss or destruton, or the mount of the Dmge, or t the Insurer s opton wll renstte or reple suh Property or ny prt of suh Property. The most the lnsurer wll py for ny one lm s A B the Totl Sum Insured, or for eh tem ts ndvdul Sum Insured, or ny other lmt of llty n ths Seton whhever s the less t the tme of Dmge the mount of the Sum lnsured or lmt of llty remnng fter deduton for ny other Dmge ourrng durng the sme Perod of Insurne, unless the lnsurer grees to renstte ny suh Sum lnsured or lmt of llty. Irrespetve of the numer of nsured prtes the totl llty of the Insurer to ll of the nsured prtes olletvely n respet of the over nsured y ths Seton shll not exeed the Totl Sum Insured or n respet of ny tem ts Sum Insured or ny other stted lmt of llty. Any pyment or pyments y the Insurer to ny one or more nsured prty shll redue to the extent of tht pyment the llty of the Insurer to ll prtes rsng from ny one event gvng rse to lm under ths Seton. The Sums Insured or lmts of llty shll not e redued y the mount of ny lm followng Dmge s nsured under ths Seton provded tht the Insurer does not gve wrtten note to the ontrry wthn 30 dys of the notfton of ny Dmge the Insured pys the pproprte ddtonl premum on the mount of the lm from the dte of the Dmge to the expry of the Perod of Insurne the Insured grees to omply wth ny seurty reommendtons or other mesures the Insurer my requre to redue the rsk of Dmge. 6

7 Bss of Settlement Adjustments In lultng the most the lnsurer wll py for ny one lm, djustments shll e mde n ordne wth the followng luses. 1 lndex Lnkng Unless the Insured requests to the ontrry, the Sums Insured nd/or Delred Vlues wll e djusted to tke nto ount movements n the pproprte ndex nd renewl premums wll e sed on the djusted Sums Insured nd/or Delred Vlues. For Buldngs, the Generl Buldng Cost Index ssued y the Buldng Cost Informton Serve of the Royl Insttuton of Chrtered Surveyors or for Resdentl Property the Household Reuldng Cost Index ssued y the Assoton of Brtsh Insurers (or some other sutle ndex the Insurer dedes upon) wll e used. For Contents nd other Property shown nd/or desred n the Shedule, the Retl Pre Index (or some other sutle ndex the Insurer dedes upon) wll e used. The ove perentge hnges wll ontnue to e ppled etween the dte of ny Dmge nd the dte when replement or repr hs een ompleted provded tht the work of reuldng or repr e ommened nd rred out wthout unresonle dely. 2 Averge (Undernsurne) The Sums lnsured y ny tems for Buldngs or Contents sujet to the Rensttement (Dy One Bss) luse re delred to e seprtely sujet to Averge s desred n Spel Condton 2 of suh luse ny other tems of Property lnsured (other thn ny Sum lnsured pplyng solely to rent, fees, removl of ders or prvte dwellngs) re delred to e seprtely sujet to Averge. Ths mens f t the tme of Dmge the Sum lnsured for ny tem s less thn the vlue of the tem overed y suh Sum Insured, the mount pyle y the lnsurer wll e proportontely redued. 3 Contruton nd Averge If t the tme of Dmge ny other nsurne hs een effeted y or on ehlf of the lnsured overng ny of the Property Dmged, the Insurer s llty under ths seton shll e lmted to the Insurer s rtele proporton of suh Dmge. If suh other nsurne s sujet to Averge (Undernsurne), ths Seton f not lredy sujet to Averge shll e sujet to Averge n lke mnner. If suh other nsurne s sujet to ny provson whh exludes t from rnkng onurrently wth ths Seton, ether n whole or n prt, or from ontrutng rtely, the llty of the lnsurer under ths Seton shll e lmted to tht proporton of the Dmge whh the Sum lnsured for ths Seton ers to the vlue of the Property. 7

8 4 Rensttement (Dy One Bss) A Sujet to the Spel Condtons set out elow, the ss on whh the mount pyle, for Buldngs, Contents nd ny other Property for whh Delred Vlue s spefed n the Shedule s to e lulted wll e the rensttement of the Property lost, destroyed or dmged. For ths purpose rensttement mens the reuldng or replement of Property lost or destroyed whh, provded the Insurer s llty s not nresed, my e rred out n ny mnner sutle to the requrements of the lnsured on nother ste the repr or restorton of Property dmged n ether se to ondton equvlent to, or sustntlly the sme s, ut no etter or more extensve thn ts ondton when new. B The Delred Vlue (shown n rkets elow the Sum Insured), hvng een stted n wrtng y the Insured, hs een used to lulte the premum. Delred Vlue mens the ssessment y the lnsured of the ost of rensttement of Property lnsured rrved t n ordne wth prgrph A.. t the level of osts pplyng t nepton of the Perod of Insurne (gnorng nfltonry ftors whh my susequently operte), together wth, to the extent tht over provdes, due llowne for ny ddtonl ost of rensttement to omply wth Pul Authortes regultons, ye-lws or stpultons professonl fees removl of ders osts. Spel Condtons 1 At nepton of eh Perod of Insurne, the lnsured shll notfy the lnsurer of the Delred Vlue of Property Insured. In the sene of suh delrton the lst mount delred y the lnsured wll e tken s the Delred Vlue for the new Perod of Insurne, pproprtely djusted f Index Lnkng pples. 2 If t the tme of Dmge the Delred Vlue of the Property s less thn the ost of rensttement (s defned n prgrph A..) t nepton of the Perod of Insurne, the mount pyle y the lnsurer wll e proportontely redued. 3 The Insurer s llty for the repr or restorton of Property dmged n prt only, shll not exeed the mount whh would hve een pyle f suh Property hd een wholly destroyed. 4 No pyment eyond the mount the lnsurer would hve pd n the sene of ths luse wll e mde unless rensttement ommenes nd proeeds wthout unresonle dely untl the ost of rensttement hs tully een nurred where Property Insured t the tme of Dmge s overed y ny other nsurne effeted y the Insured, or on ehlf of the Insured, whh s not on the sme ss of rensttement. 5 All the terms nd ondtons of ths Seton nd the Poly shll pply to ny lm pyle under the provsons of ths luse, other thn where they re expressly vred y the terms of ths luse where lms re pyle s f ths luse hd not een norported, exept tht Sums Insured wll e lmted to 115% of Delred Vlues. 8

9 5 Europen Unon nd Pul Authortes Regultons nludng Undmged Property Sujet to the Spel Condtons s set out elow, over for Buldngs nd Contents nludes n mount n respet of ny ddtonl ost of rensttement whh s nurred solely y reson of the neessty to omply wth uldng or other regultons under or frmed n pursune of ny At of Prlment, wth Bye-Lws of ny pul uthorty, or to omply wth the stpultons of Europen Unon legslton n onsequene of Dmge, n respet of lost destroyed or dmged Property undmged portons of suh property exludng A the ost nurred n omplyng wth suh regultons, ye-lws or stpultons v n respet of Dmge ourrng pror to the grntng of ths over n respet of Dmge not nsured y ths Seton under whh note hs een served upon the Insured efore the dte of the Dmge or where n exstng requrement must e ompleted wthn stpulted perod n respet of undmged portons of the Property ny property whh hs not sustned loss destruton or dmge s nsured y ths Seton or the Poly B C the ddtonl ost tht would hve een requred to mke good the Property Dmged to ondton equl to ts ondton when new, hd the neessty to omply wth suh regultons ye-lws or stpultons not rsen the mount of ny rte tx duty development or other hrge or ssessment rsng out of ptl ppreton whh my e pyle n respet of the Property y reson of omplne wth ny suh regultons ye-lws or stpultons. Spel Condtons 1 The work of rensttement must e ommened nd rred out wthout unresonle dely, nd my e rred out upon nother ste (f suh regultons ye-lws or stpultons so neesstte) sujet to there eng no resultng nrese n the llty of the Insurer 2 If the llty of the Insurer s redued y the pplton of ny of the terms nd ondtons of ths Seton or the Poly (other thn s result of ths luse) the llty of the Insurer under ths luse wll e redued n lke proporton 3 The llty of the Insurer shll not exeed n respet of ny one lm n respet of undmged portons of property (other thn foundtons) 15% of the totl mount the Insurer would hve een lle to py to renstte the property f the Property Insured y the tem t the Premses where Dmge ourred hd een wholly destroyed n respet of the property sufferng Dmge the Sum Insured pplle to eh seprte premses the Totl Sum Insured or ny other lmt of llty n ths Seton whhever s the less t the tme of ny Dmge n ny one Perod of Insurne 4 All the terms nd ondtons of ths Seton nd the Poly shll pply to ny lm pyle under the provsons of ths luse other thn where they re expressly vred y the terms of ths luse. 9

10 6 Serves Cover nludes telephone, gs, wter nd eletr nstruments, meters, ppng, lng nd the lke nd ther essores, nludng smlr property n djonng yrds or rodwys or underground, ll pertnng to Buldngs or Contents nsured y ths Seton, eng the property of the lnsured or for whh the lnsured re responsle. 7 Altertons nd Addtons To the extent tht they re not otherwse nsured, Buldngs nd Contents tems nlude A B ltertons, ddtons nd mprovements (ut not ppreton n vlue n exess of Sums Insured) to Buldngs, mhnery nd plnt ny newly qured or newly ereted uldngs, mhnery or plnt wthn the Europen Unon, for no more thn 10% of the Sum lnsured for eh tem overed, or 1,000,000 n totl, whhever s the less, t ny one Premses or t ny one newly qured ddress elsewhere thn t the Premses, provded tht the lnsured shll gve detls of suh ltertons nd ddtons to the Insurer wthn 90 dys of the ommenement dte of the Insured s responslty, effet spef over retrospetve to suh dte nd py the pproprte ddtonl premum. 8 Professonl Fees Sums lnsured nd/or Delred Vlues for Buldngs nd Contents nlude n mount n respet of rhtets, surveyors, legl nd onsultng engneers fees, other thn where n tem overng suh fees s speflly desred n the Shedule. Cover pples only to those fees neessrly nd resonly nurred n onsequene of Dmge, n the rensttement or repr of Property Insured. 9 Removl of Ders Costs Sums lnsured nd/or Delred Vlues for Buldngs, Contents nd Stok nlude n mount n respet of removl of ders osts, other thn where n tem overng suh osts s speflly desred n the Shedule. Cover pples only to those osts neessrly nd resonly nurred n onsequene of Dmge n, A B C removng ders dsmntlng nd demolshng shorng up or proppng, or ordng up The Insurer wll not py for ny osts or expenses A B nurred n removng ders other thn from the ste of suh Property Dmge nd the re mmedtely djent to suh ste rsng from polluton or ontmnton of Property not nsured y ths Seton 10 Temporry Removl Property lnsured (other thn Stok) s overed whlst temporrly removed for lenng, renovton, repr or smlr purposes to ny ddress elsewhere thn t the Premses, nludng whlst n trnst, wthn the Europen Unon. 10

11 11 Temporry Removl Douments If deeds nd other douments (nludng stmps on them), mnusrpts, plns nd wrtngs of every desrpton, ooks nd other usness reords re nluded n the Property Insured, suh tems re overed whlst temporrly removed to ny ddress elsewhere thn t the Premses, nludng whlst n trnst wthn the Europen Unon. The lnsurer wll not py for A. suh tems more speflly nsured B. more thn 10% of the fgure stted wthn the defnton of ontents for omputer systems reords C. more thn 10% of the totl vlue of suh tems. 12 Contrt Pre In respet only of goods sold ut not delvered, for whh the lnsured remn responsle under the terms of ontrt of sle, where suh ontrt of sle s nelled followng Dmge y reson of ts ondtons, ether wholly or to the extent of the Dmge, over wll e sed on the ontrt pre. For the purpose of ths luse the vlue of ll goods to whh ths ss of settlement ould pply n the event of Dmge wll lso e sertned on ths ss. 13 Eletrl Apprtus If ny eletrl pprtus or fttngs re dmged y fre due to self gnton, over-runnng, exessve pressure, short rutng, self hetng or lekge of eletrty, the lnsurer shll not e lle for Dmge to the prtulr pee of pprtus or fttng whh hs used the fre, ut the lnsurer shll e lle for Dmge to ny other pprtus or fttngs n onsequene of suh fre. 14 Customers Goods If the lnsured hve represented to ustomers tht they wll ept responslty for Dmge to the goods of ustomers or to goods for whh suh ustomers my e leglly responsle, the lnsurer grees tht ll suh goods n the Premses wll e overed s Stok exept n so fr s they re more speflly nsured. 15 Dt Proessng nd Anllry Equpment Cover nludes Dmge to dt proessng nd nllry equpment used y dryness or dmpness of tmosphere, extremes of temperture, orroson or rust, f dretly resultng from Dmge to ny r ondtonng fltes. 16 Rent Where n tem overng rent s speflly desred n the Shedule, over pples only f Buldng n respet of whh rent s pyle y or to the Insured, or ny prt of t, s unft for oupton n onsequene of Dmge. The lnsurer wll not py for more thn the proporton of the Sum lnsured on rent tht the perod neessry for rensttement ers to the term of rent overed. 17 Dsmntlng nd Re-ereton Costs Cover nludes the ost of dsmntlng, re-ereton, fttng nd fxng of Contents followng Dmge. 11

12 18 Glss nd Neon/Illumnted Sgns Cover extends to nlude Dmge to fxed glss, glss shelves, showses nd ounter ses, mrrors, nd neon / llumnted sgns. Followng Dmge to glss or neon/llumnted sgns the Insurer wll py the ost of d ny neessry ordng up or temporry glzng pendng full replement replng lrm fol, letterng, pntng, emossng, slverng or other ornmentl work on glss Dmge to Contents or Stok used y roken glss removng nd re-fxng wndow fttngs nd other ostles to replng roken glss The Insurer wll not py for Dmge 1 n respet of neon / llumnted sgns v rsng from djustment, repr, dsmntlng or ereton of ny prt of the sgn or whlst suh sgn s removed from ts norml workng poston rsng from mehnl rekdown of the sgn or ny prt of the sgn to ny prt of the sgn y ts own gnton, eletrl rekdown or urn out to tues unless the glss s frtured 2 exstng pror to the nepton of ths Seton. 19 Loks nd Keys The Insurer wll py the osts nurred s result of the neessry replement of loks t the Premses followng theft (s nsured y ths Seton) of keys or entry swpe rds from the Premses or from the home of ny dretor, prtner or employee uthorsed y the Insured to hold suh keys or rds or followng thret of or tul ssult or volene to the Insured or ny uthorsed employee, or f there s resonle evdene tht keys hve een duplted y n unuthorsed person provded tht the llty of the Insurer wll not nlude the ost of replng the loks of ny sfe or strongroom f the keys to suh loks re left on the Premses whlst the Premses re losed for Busness exeed 25,000 ny one lm nd n totl durng ny one Perod of Insurne. 20 Fre Extngushers, Sprnklers nd Seurty Equpment The Insurer wll py the resonle osts nurred y the Insured n A B re-fllng, rehrgng or replng ny fre extngushers, lol or fxed fre suppresson or gs floodng systems, sprnkler nstlltons nd sprnkler heds hvng ny fre nd/or ntruder lrms nd losed rut televson equpment re-set solely n onsequene of Dmge Provded tht the Insured mntn ll suh equpment under ontrt nd n ordne wth the mnufturer s nstrutons wth mntenne ompny eptle to the Insurer the Insurer shll not e lle n respet of ny osts nd expenses reoverle from the mntenne ompny or from the fre serve the llty of the Insurer n respet of ny one lm shll not exeed 25,000 12

13 21 Metered Utltes Cover nludes ddtonl wter, gs, eletrty, ol or other metered supply hrges nurred y the lnsured up to n mount of 25,000 ny one lm, n onsequene of Dmge, ut the lnsurer wll not py for suh hrges nurred n respet of ny uldng whh s Unouped. The ss on whh the mount pyle s to e lulted wll e the mount of the supplers hrges for the perod durng whh Dmge ours, less the hrge pd y the lnsured for the orrespondng perod n the preedng yer, djusted for hnges n the supplers hrges nd for vrtons ffetng the supply onsumpton of the lnsured durng the ntervenng perod. 22 Exhtons Property Insured s overed whlst t ny exhton ste nywhere n the Europen Unon, nludng whlst n trnst to nd from suh exhton, provded tht suh exhton ste s not under nvs or n the open. Cover s extended to nlude non-reoverle Exhton Expenses followng ndonment y the Insured of ny exhton s result of Dmge y Spefed Event to ny uldng, stnd or other property used y the Insured t suh exhton ste to Property Insured whlst n trnst to suh exhton The most the Insurer wll py n respet of ny one lm s 25,000. For the purposes of ths Bss of Settlement Adjustment the followng defnton pples: Exhton Expenses: Costs dretly nurred y the Insured n onneton wth the exhton, nludng ut not lmted to dvertsng, prntng, sttonery, nsurne premums, hrges for spe nd serves, hre of stnds, trnsport hrges nd the ost of nstllng stnds fttngs nd exhts. 23 Tre nd Aess In the event of Dmge n onsequene of espe of wter or fuel ol from ny tnk, pprtus or ppe, the lnsurer wll py osts neessrly nd resonly nurred y the lnsured n lotng the soure of suh Dmge, nd n the susequent mkng good of Dmge used s onsequene of lotng suh soure, up to n mount of 25,000 ny one lm. 24 Seventy Two Hours Cluse Dmge ourrng wthn 72 onseutve hours of nd rsng from the Spefed Events of storm or flood s deemed to e one lm. The lnsured hve the rght to selet the moment from whh the 72-hour perod shll e deemed to hve ommened wthn the terms of ths Seton, provded tht suh Dmge ourred pror to expry of the Perod of Insurne. 13

14 25 Freeholders, Lessors nd Mortggees The Insurer grees tht the nterest of ny Freeholder Lessee Under Lessee nd/or Mortggee n respet of Buldngs nsured y ths Seton nd whh tthed efore the hppenng of ny Dmge shll e utomtlly noted n ths nsurne f requested y the Insured ut only to the extent tht suh nterest s not otherwse nsured nd sujet to ther dentty eng dslosed n wrtng to the Insurer y the Insured n the event of Dmge. Ths nsurne shll not e nvldted y ny nrese n rsk of Dmge resultng from n lterton t or omsson whh ours wthout the uthorty or knowledge of ny Freeholder nd/or Lessor nd/or Mortggee ut ths shll only protet the nterest of suh Freeholder Lessor or Mortggee nd shll only pply f the Insurer s notfed mmedtely on the prty eomng wre of the nresed rsk nd the pyment of ny resonle ddtonl premum s mde. 26 Lndsped Grounds Cover nludes osts nurred y the lnsured n onsequene of Dmge to Property lnsured t the Premses, up to the mount of 25,000 ny one lm, n restorng lndspe grounds to ther orgnl pperne when frst ld out nd plnted, ut the lnsurer wll not py for osts rsng due to the flure of trees, shrus, plnts, turf nd the lke to germnte or eome estlshed. 27 Theft Dmge to Buldngs Cover nludes loss destruton of or dmge to uldng or prt of uldng t the Premses, whether suh uldng or prt of uldng s nsured y ths Seton or not, ut for whh the Insured re responsle, used y theft or ttempted theft exludng A loss destruton or dmge of or to ny Unouped uldng unless greed otherwse y the Insurer n wrtng expedted or n ny wy rought out y the Insured or ny prtner dretor or employee of the Insured or ny other person who hs legl rght to e on the Premses, unless suh theft or ttempted theft nvolves the thret of or ssult or volene to the Insured or ny prtner dretor or employee of the Insured or ny other person who hs legl rght to e on the Premses of or to property n respet of whh the Insured s not lle for repr osts n respet of whh the Insured s le to reover repr osts from nother soure whh s more speflly or otherwse nsured B fter the pplton of ll other terms nd ondtons of ths Seton nd the Poly nludng ny Undernsurne (Averge) Bss of Settlement Adjustment, nd n respet of eh seprte Premses, the mount of the Exess spefed n the Shedule or 500 whhever s the greter. Cover lso nludes the ost of ny temporry ordng-up nd mkng good n onsequene of suh loss, destruton or dmge neessry to keep the Premses seure. Exluson 2... of ths Seton does not pply to ths Bss of Settlement Adjustment. 14

15 28 Lesed nd Rented Premses Dfferene n Condtons & Dfferene n Lmts Cover extends to nlude Dmge to uldngs nd fxtures nd fttngs wthn the Unted Kngdom whh re nsured under more spef nsurne ut for whh the Insured re leglly lle s tennt nd not s owner n ordne wth the requrements of lese (other thn where the Insured ontrt to rrnge the nsurne) ut only when the nsured perls nd/or defntons nd/or ondtons set forth n ths Seton re roder n menng or sope thn those of suh more spef nsurne. Should suh more spef nsurne y vrtue of ts terms, ondtons or lmts of llty fl to ndemnfy the Insured n whole or n prt, to the extent tht suh ndemnty s not provded y suh more spef nsurne ut whh would hve een hd suh more spef nsurne followed the terms, ondtons, exlusons nd lmts of the Cover under ths Seton nd ths Poly, then sujet to ll of the terms, ondtons, exlusons nd lmts pplle to ths Seton nd ths Poly the Insurer wll ndemnfy the Insured gnst Dmge s defned n ths Seton nd ths Poly, provded tht d e the Insurer shll not e lle for more thn 1,000,000 ny one lm ths Extenson shll not provde n ndemnty n respet of ny dedutle or exess pplle to suh more spef nsurne the sums nsured under suh more spef nsurne represent the full replement ost, or where pplle the full ndemnty vlue f the Insured eome wre tht the uldngs t ny Premses re not nsured y the lndlord, the Insured shll rrnge spef nsurne thereon ny lm for Dmge must frst e sumtted to the nsurer of suh more spef nsurne. Unless the Insurer hs onfrmed tht ths Seton nd ths Poly would ndemnfy the Insured n suh rumstnes, the Insurer shll not e lle nd no mount shll e reoverle under ths Extenson v for ny Dmge to the extent nd up to the mount tht suh Dmge s nsured under suh more spef nsurne for ny Dmge rsng from ontngeny whh s spefed n the lese whh s to e nsured y the lndlord where suh more spef nsurne hs een nelled, lpsed or voded s result of n t or omsson on the prt of the Insured where suh more spef nsurne fls due to the reh of ny ondton or wrrnty ontned theren The Insurer shll not e lle nd no mount shll e reoverle under ths Extenson n respet of ny shortfll n the ndemnty provded y suh more spef nsurne due solely to the operton of ny Averge (Undernsurne) ondton n respet of ny Dmge of whtsoever nture dretly or ndretly used y resultng from or n onneton wth ny t of Terrorsm. 15

16 29 Rensttement to Mth Computer Equpment Where omputer equpment hs suffered Dmge to the extent tht repr s mprtl nd replement y smlr property n ondton equl to ut not etter or more extensve thn when new s mpossle then the Insured my reple repr or restore the property wth equvlent property whh employs urrent tehnology nd replement repr or restorton wth suh property for the purposes of ths Seton shll not e regrded s eng etter or more extensve thn when new. Cover lso extends to nlude the ost of replement or modfton of undmged omputer equpment nsofr s t s neessry to dpt t to operte n onjunton wth lost destroyed or dmged property whh hs een repled repred or restored the ost of replement repr or modfton of undmged prts of omputer equpment tht form prt of mthng set of rtles, or sute of ommon desgn or funton where the Dmge s restrted to lerly dentfle re or to spef prt. Provded tht the totl llty of the Insurer s not nresed eyond the mount tht would otherwse hve een pyle for the replement repr or restorton of the property lost destroyed or dmged n ts orgnl form tht would hve een pyle for replement repr or modfton of the whole property formng set of rtles, or sute of ommon desgn or funton f suh property hd een wholly destroyed d the Insurer shll e lle only for the mount suffent to enle the Insured to resume opertons n sustntlly the sme mnner s efore the Dmge where the property s lost destroyed or dmged n prt only the Insurer wll not py more thn the mount representng the ost whh the Insurer would hve pd for repr, restorton or replement f suh property hd een wholly destroyed f Dmge to omputer equpment results n undmged omputer reords eng nomptle wth replement omputer equpment the Insurer wll py the osts of modfyng the omputer equpment or replng omputer reords wth rensttement of progrmmes nd/or nformton (ut not for the vlue of the nformton to the Insured) whhever s the less. 16

17 30 Osolete Buldng Mterls The Bss of Settlement n respet of Buldngs extends to nlude the resonle ddtonl osts nurred n replement of Dmged mterls whh gven onsderton to the sentf nd tehnl knowledge t the tme of nstllton onstruton or fttng were resonly deemed to e ft for the purpose ntended ut requre replement wth more sutle modern mterls fter the Dmge. The Buldngs shll not e regrded s eng etter or more extensve thn when new provded tht the Insurer s llty n respet of ny one lm s lmted to 10% of the Delred Vlue of suh Buldngs n respet of suh ddtonl osts or the Sum Insured t eh seprte premses or the Totl Sum Insured or ny other lmt of llty n ths Seton whhever s the less t the tme of ny Dmge n ny one Perod of Insurne. 31 Loss Mnmston nd Preventon Expendture Cover extends to nlude osts nd expenses neessrly nd resonly nurred y the Insured wth the onsent of the Insurer n preventng or redung mmnent Dmge whh would hve een nsured under ths Seton redung mtgtng or otherwse llevtng Dmge nsured under ths Seton durng nd fter the ourrene of suh Dmge Provded tht v the mpendng Dmge ws not resonly foreseele erler nd would e the nturl outome f suh osts nd expenses were not nurred the mpendng Dmge dd not rse from ny defet n the Property Insured the Dmge s not more speflly nsured under ths or ny other poly ond ndemnty seurty or other leglly ndng ontrt the llty of the Insurer shll not exeed 25,000 n respet of ny one lm. 32 Further Investgton Expenses Where ny Buldngs hve suffered Dmge nd n the opnon of ompetent onstruton professonl there s resonle posslty of other Dmge to portons of the sme Buldngs whh s not mmedtely pprent, Cover extends to nlude the resonle osts nurred y the Insured wth the Insurer s pror onsent n estlshng whether or not suh other Dmge hs ourred. The Insurer wll lso py the resonle osts nurred y the Insured n estlshng whether or not other nsured Buldngs n the mmedte vnty for whh the Insured re responsle hve suffered Dmge n the sme ndent ut only f suh Buldngs re susequently found to hve suffered suh Dmge for whh the Insurer s lle under ths Seton. Provded tht the llty of the Insurer n ny one Perod of Insurne shll not exeed 5,000 (unless spefed otherwse n the Shedule). 17

18 33 Indvertent Omsson to Insure The Insured hvng notfed the Insurer of ther ntenton to nsure ll property whh they own or for whh they re responsle stute wthn the Unted Kngdom wth the Insurer (unless otherwse greed n wrtng y the Insurer) from the nepton dte of ths Seton of the Poly nd t eng the Insured s elef tht ll suh property s nsured then the Insurer grees to extend over under ths Seton so tht f susequently ny suh property s found to hve ndvertently een left unnsured y the Insured durng the Perod of Insurne then the Insurer wll deem suh property to e nsured y ths Seton Provded tht d e f the mxmum llty of the Insurer for ny one lm n respet of Buldngs nd Contents n totl shll not exeed 1,000,000 ny one premses the Insured rry out t not less thn twelve monthly ntervls hek to ensure tht effetve nsurne s n fore for ll property owned or lesed y the Insured or for whh the Insured re responsle the Insured shll gve detls n wrtng mmedtely n omsson s dsovered nd wthn 30 dys of the dte of dsovery shll provde the Insurer wth the sums nsured to pply for ny suh property nd effet spef over retrospetve to suh dte nd py the pproprte ddtonl premum n respet of ny uldngs purhsed for refurshment or redevelopment the Bss of Settlement upon whh the mount pyle shll e lulted shll e the vlue of the Property Insured or the mount of the Dmge t the tme of the Dmge less n pproprte deduton for wer nd ter nd pror depreton nd n respet of ny premses due for demolton the Bss of Settlement shll e lmted to the osts ssoted wth lerng nd seurng the uldngs ths Bss of Settlement Adjustment shll not pply n ddton to ny over provded under the Altertons nd Addtons Bss of Settlement Adjustment or n respet of ny ppreton n vlue the vlue of the property whh hs een ndvertently omtted shll for the purpose of Averge (Undernsurne) e dded to the Sum Insured on the tem to whh the Property reltes or n the se of Rensttement (Dy One Bss) the Delred Vlue. 34 Property Stored Cover extends to nlude Dmge to property omprsng Stok whlst elsewhere thn t the Premses nd wthn the Unted Kngdom, exludng property more speflly or otherwse nsured Dmge to property n ny yrd r prk or open spe or ontned wthn n open sded struture or open sded uldng Dmge used other thn y the Spefed Events of fre, lghtnng, exploson, rrft or other erl deves or rtles dropped from them, rot, vl ommoton, strkers, loked-out workers, persons tkng prt n lour dsturnes, mlous persons other thn theves, erthquke, espe of wter from ny tnk pprtus or ppe or mpt y ny rod vehle or nml Provded tht the llty of the Insurer n respet of ny one lm shll not exeed 10% of the Sum Insured on Stok or 250,000 whhever s the less. 18

19 35 Sprnkler Instllton Upgrdng Costs If followng Dmge the Insurer requres the upgrdng of ny utomt sprnkler nstllton n order tht t the tme of ts rensttement suh nstllton wll onform to Loss Preventon Counl Rules for Automt Sprnkler Instlltons urrent t the tme of rensttement the Insurer wll py the osts nurred y the Insured provded tht t the tme of the Dmge the nstllton onformed to the 28th or 29th Edton of suh Rules when nstlled ut dd not onform to susequent mendment to suh Rules. Provded tht the mount reoverle exludes ny rte, tx, duty development or other hrge or ssessment rsng out of ptl ppreton s result of omplyng wth the requrements of the Insurer the llty of the Insurer t the tme of ny Dmge n respet of ny one lm shll n no se exeed 20% of the Sum Insured for the tem nludng suh sprnkler nstllton, or ny other lmt of llty n ths Seton whhever s the less 36 Drns, Sewers nd Gutters Sums Insured nd/or Delred Vlues for Buldngs, Contents nd Stok nlude n mount n respet of osts nurred for lenng nd/or lerng of drns, sewers nd gutters, other thn where n tem overng suh osts s speflly desred n the Shedule. Cover pples only to suh osts neessrly nd resonly nurred y the Insured, nd for whh the Insured re responsle, n onsequene of Dmge. The Insurer wll not py for ny osts or expenses nurred n lenng nd/or lerng other thn from the ste of suh Property Dmge nd the re mmedtely djent to suh ste rsng from polluton or ontmnton of Property not nsured y ths Seton. 37 Moulds, Tools nd Des Cover nludes moulds, tools, nd des elongng to the Insured or for whh the Insured re responsle whlst t the Premses nd whlst elsewhere thn t the Premses or t ny premses wthn the Unted Kngdom not ouped y the Insured nd whlst n trnst thereto nd therefrom y rod rl or nlnd wterwy. Provded tht the llty of the Insurer n respet of ny one lm shll not exeed 250,000 (unless otherwse stted n the Shedule). 38 Brnded Goods In the event of lm for Dmge to rnded or lelled merhndse overed y ths Seton, ny slvge wll not e dsposed of y sle wthout the onsent of the Insured. If suh slvge s not dsposed of y sle then the Dmge wll e ssessed t the vlue greed etween the Insured nd the Insurer nd e tken nto onsderton t the settlement of the loss. The Insured my t the expense of the Insurer stmp slvge on the merhndse or ts ontners or my remove or olterte the rnds or lels from suh merhndse f suh stmp removl or olterton wll not physlly further Dmge the merhndse provded tht the Insured re-lel the merhndse or ontners n omplne wth the requrements of the lw. 19

20 39 Unuthorsed Use of Supples Cover nludes wter, gs, eletrty, ol or other metered supply hrges nurred y the Insured nd for whh the Insured re leglly responsle, due to unuthorsed use y persons tkng possesson of, keepng possesson of or oupyng ny Premses wthout the wrtten onsent of the Insured Provded tht d the Insured shll tke ll prtle steps to termnte suh unuthorsed use s soon s t s dsovered the Insured hs dvsed the Insurer of suh unuthorsed use mmedtely on eomng wre of t Seton Condton 3 Unouped Premses hs een ompled wth y the Insured. the llty of the Insurer shll not exeed 25,000 n respet of ny one lm nd n totl durng ny one Perod of Insurne. 40 Contrt Works Cover for eh Buldngs tem extends to nlude Contrt Works undertken n performne of ny ontrt nd for whh the Insured re responsle under the terms of the ontrt, provded tht the Insurer s llty shll not exeed 250,000 n respet of ny one ontrt n respet of ll losses rsng out of one ourrene ths nsurne shll only pply n so fr s the Contrt Works re not otherwse nsured the Insurer shll not e lle for the frst 1,000 of eh nd every lm. 41 Contrtors Interest Cluse When the Insured s requred y the terms or ondtons of ny ontrt to effet nsurne on Buldngs nd Contents n the jont nmes of the Insured nd of ny ontrtor or su-ontrtor nmed n suh ontrt, the Insurer grees to note suh jont nterests provded tht the Insured shll notfy the Insurer of detls of ny sngle ontrt vlued t 250,000 or more, n dvne of ommenement of the work nd py ny ddtonl premum the Insurer my requre. 42 Generl Interests The Insurer grees to utomtlly note the nterest of ny other prty f requested y the Insured n ny of the Property Insured nd whh tthed efore the hppenng of ny Dmge ut only to the extent tht suh nterest s not otherwse nsured nd sujet to ther dentty eng dslosed n wrtng to the Insurer y the Insured n the event of Dmge. 43 Contrtng Purhser s Interest The Insurer grees tht wthout prejude to the rghts nd lltes of the Insured or the Insurer, f t the tme of Dmge the Insured hve ontrted to sell ther nterest n ny Buldng nsured under ths Seton nd the purhse hs not een ut s susequently ompleted the purhsers shll e enttled on ompleton of the purhse to eneft under ths Seton untl ompleton n respet of suh Dmge to the extent tht suh Buldngs re not otherwse nsured y the purhser or on ther ehlf. 20

21 44 Contnung Interest nd Hre Chrges In the event of Dmge t the Premses where the Insured re lle under ontrt for nterest hrges or ontnung hre hrges not reoverle under the terms of lese or smlr greement n respet of property for whh the Insured re responsle nd whh s not otherwse nsured the Insurer wll py suh hrges tully nd resonly nurred sujet to lmt of 10,000 ny one lm nd n totl n ny one Perod of Insurne. 45 Undmged Stok The Bss of Settlement for Stok nludes ny loss nurred less the vlue of ny slvge n the event of undmged Stok deterortng nd/or eng ondemned or otherwse eomng unusle n respet of Stok whh the Insured s olged under ontrt to ept from ny other prty ut s unle to use resultng solely from Dmge s nsured y ths Seton provded tht the llty of the Insurer n respet of ny one lm shll not exeed 15% of the Sum Insured on Stok. 46 Fre Brgde The Insurer wll py the resonle osts hrged y ny Pul Authorty reltng to the extngushng or fghtng of fre. 47 Vlue Added Tx (VAT) To the extent tht the Insured s ountle to the Tx Authortes for Vlue Added Tx ll terms n ths Seton shll e exlusve of suh tx. However ths Seton extends to nlude ny ddtonl llty for Vlue Added Tx tht the Insured my nur n respet of the self supply of lnd n order to renstte or repr property followng Dmge 48 Prs & Sets In the event of Dmge to ny tem nsured onsstng of one of numer of ndvdul tems formng prt of mthng set of rtles, or sute of ommon desgn or funton, nd where repr, replement or restorton of undmged portons of suh Property s mprtl, over extends to nlude the ost of replement, repr or modfton of suh Property whh for the purposes of ths Seton shll not e regrded s eng etter or more extensve thn when new Provded tht Dmge s restrted to lerly dentfle re or to spef prt the totl llty of the Insurer s not nresed eyond the mount tht would hve otherwse een pyle for the replement repr or restorton of the property lost, destroyed or dmged n ts orgnl form tht would hve een pyle for replement repr or modfton of the whole property formng set of rtles, or sute of ommon desgn or funton f suh property hd een wholly destroyed d the Insurer shll e lle only for the mount suffent to enle the Insured to resume opertons n sustntlly the sme mnner s efore the Dmge where the property s lost, destroyed or dmged n prt only, the Insurer wll not py more thn the mount representng the ost whh the Insurer would hve pd for repr, restorton or replement f suh property hd een wholly destroyed. 21

22 49 Undmged Tennts Improvements In the event of Dmge y Spefed Event to Buldngs or Contents n onsequene of whh the Insured s lese s termnted y the Lessor pursunt to vld ondton of the Insured s lese, over extends to nlude the vlue of undmged tennts fxtures, fttngs, ltertons nstlltons or ddtons, mde t the expense of the Insured nd whh nnot leglly e removed, n or on Buldng ouped ut not owned y the Insured Provded tht the Insurer shll not e lle for retnng wlls, foundtons or supports elow the surfe of the lowest floor or sement, or for outdoor trees shrus plnts or lwns the mxmum llty of the Insurer for ny one lm shll not exeed 100, Motor Vehles Notwthstndng Exluson 10, nd provded they re more speflly nsured, ths Seton wll ndemnfy the Insured for loss or destruton or dmge to motor vehles lensed for rod use (nludng essores on them) owned or lesed y the Insured whlst prked t the Premses, n respet of ny mount over nd ove tht reoverle under suh more spef nsurne. Bss of Settlement Adjustment 4 Rensttement (Dy One Bss) shll not pply to ths luse. 51 Foundtons Sums Insured nd/or Delred Vlues for eh tem on Buldngs extend to nlude n mount n respet of foundtons. If followng Dmge, re-uldng s rred out upon nother ste, the Insurer grees to tret ndoned foundtons s Dmged, whether or not suh foundtons re Dmged. Where ndoned foundtons nrese the resle vlue of the orgnl uldng ste, the nresed vlue shll e regrded s slvge. 22

23 Seton Condtons 1 Generl Preutons The Insured must tke ll resonle preutons to keep the Premses nd the Property Insured seure tke ll resonle preutons to mntn the Property Insured n good stte of repr remove ll keys nludng duplte keys reltve to the seurty of the Premses nd to ny sfe or strongroom on the Premses from suh seured premses when they re losed for Busness or re left unttended. 2 Alterton n Rsk The Insured must notfy the Insurer s soon s possle f durng the Perod of Insurne there s ny lterton n the ownershp of the Insured, or f n respet of ny of the Property Insured there s ny lterton d due to ts dsposl or removl n respet of whh the nterest of the Insured eses exept y wll or operton of lw n respet of the rsks of susdene, ground heve or lndslp where ny demolton, onstruton, ground works or exvton work s eng rred out on ny djonng ste to the fts or mtters set out n the Shedule or otherwse omprsng the rsk presentton mde y the Insured to the Insurer t nepton, renewl or vrton of the Poly whh mterlly nreses the rsk of Dmge s nsured y ths Seton. Upon eng notfed of ny suh lterton, the Insurer my, t ts solute dsreton d e ontnue to provde over under ths Seton on the sme terms restrt the over provded y ths Seton mpose ddtonl terms lter the premum nel ths Seton nd the Poly. If the Insured fls to notfy the Insurer of ny suh lterton, the Insurer my tret ths Seton nd the Poly s f t hd ome to n end s t the dte of the lterton of the rsk, returnng proportonte mount of the premum for the unexpred Perod of Insurne, f the Insurer would hve nelled ths Seton nd the Poly hd t known of the nrese n rsk tret ths Seton nd the Poly s f t hd ontned suh terms (other thn reltng to premum) or other restrtons (f ny) from the dte of the lterton n rsk s the Insurer would hve ppled hd t known of the nrese n rsk redue proportontely the mount pd or pyle on ny lm, the proporton for whh the Insurer s lle eng lulted y omprng the premum tully hrged s perentge of the premum whh the Insurer would hve hrged hd t known of the nrese n rsk. 23