Attaching to and forming part of Certificate No
Whereas the Assured, named in the Schedule, has paid or has agreed to pay the premium or consideration as shown in the Schedule, Underwriters will indemnify the Assured in the manner and to the extent provided herein and in the Schedule in respect of All Risks of Physical Loss or Damage to the Property Insured and within the geographical limits, occurring during the Period of Insurance and not exceeding the sums or limits specified in the Schedule or contained herein, subject to the following conditions and exclusions:-
Stocks of stamps, covers, envelopes, postcards, albums, philatelic literature and/or articles of philatelic or postal history interest including autographs and the library the property of the Assured or for which they are responsible.
1 Stock, as described above,
whilst at the Assured's premises at xxx
This Insurance excludes:-
A) Infidelity of employees and theft by employees.
B) Fraud by the Assured’s staff/employees or the Assured's clients.
C) Wear, tear, gradual deterioration, moth and vermin, fading or discoloration.
D) Loss or damage caused by climatic or atmospheric conditions or extremes of temperature unless such loss or damage is directly caused by fire or water damage.
E) Losses discovered only by reason of stock-taking and unexplained shortages.
F) Mysterious disappearance.
G) Loss of market or delay, no matter how occurring and any consequential losses.
H) Damage to property hereby insured which may be sustained whilst the same is under any process and/or is being actually worked upon and directly resulting therefrom.
I) Damage arising out of faulty workmanship.
J) Theft from unattended vehicles.
K Confiscation or detention by Customs or other Authority
L) occasioned by or happening
through or in consequence directly or indirectly of
For the purposes of this Insurance terrorism shall mean any act of any person acting on behalf of or in connection with any organisation with activities directed towards the overthrowing or influencing of any government de jure or de facto by force or violence.
In any action suit or other
proceedings where the Underwriters allege that by reason of this definition
any loss or damage is not covered by this Insurance the burden of proving
that such loss or damage is covered) shall be upon the Assured.
A) The term "United Kingdom" is defined as Great Britain, Northern Ireland, the Isle of Man and the Channel Islands and is also deemed to include the Republic of Ireland.
B) The term "Europe" is defined as the United Kingdom, the Republic of Ireland, mainland Europe to the west of the Ural mountains, Scandinavia, countries bordering the Mediterranean Sea, Madeira, the Canary Islands and the islands in the Mediterranean.
C) The term "worldwide" is deemed to mean the world as a whole with no territorial exclusions.
GENERAL CONDITIONS APPLICABLE
TO THIS INSURANCE
It is a condition precedent to the liability of Underwriters that the Assured shall give notice to the Underwriters of any material alteration in the nature of the risk insured and until the Underwriters shall have agreed in writing to such alteration and the Assured having paid any additional premium due, the Underwriters shall not be liable for any loss or damage caused wholly or partly by such alteration.
Under Insurance Clause
It is a condition precedent to the liability of Underwriters that if the property insured hereby shall at the time of any loss or damage be of greater value than the sum insured specified, the Assured shall only be entitled to recover such proportion of the said loss as the respective sum insured bears to the total value thereof.
Dual Insurance Clause
It is understood and agreed that any insurance granted herein shall not cover (excepting as to the legal liability of the Assured) when there is any other insurance which would attach if this Insurance had not been issued, whether such insurance be in the name of the Assured or of any third party. It is however understood and agreed that, if under the terms of such other insurance (in the absence of this Insurance) the liability would be a less amount than would have been recoverable under this Insurance (in the absence of such other Insurance then this Insurance attaches on the difference. Warranted that this insurance shall not enure directly or indirectly to the benefit of any carrier or other bailee.
In case the Assured and Underwriters shall fail to agree as to the amount of loss or damage, the same shall be ascertained by two competent and disinterested appraisers, the Assured and Underwriters each selecting one, and the two so chosen shall first select a competent and disinterested umpire, the appraisers together shall then estimate and appraise the loss stating separately the sound values and damage, and failing to agree, shall submit their differences to the umpire; and the award in writing of any two shall determine the amount of the loss, the parties thereto shall pay the appraisers respectively selected by them, and shall bear equally the expense of the appraisal and umpire.
It is agreed that the amount of insurance hereunder shall be reduced by the amount of any loss covered by this Certificate. Unless otherwise provided, Underwriters and the Assured shall be deemed to have agreed that the full amount insured be reinstated automatically as of the date of the loss, and that a pro rata additional premium is due and payable from the date of the payment of the loss, subject to the Assured carrying out any recommendations required by Underwriters.
Underwriters' Rights Clause
It is a condition precedent to the liability of Underwriters that the Assured shall not incur any expense in making good any damage without the consent of the Underwriters and shall not admit liability for, or offer, or agree to settle any claim without the written consent of the Underwriters, who shall be entitled to take over and conduct in the name of the Assured the defence of any claim and to prosecute in the Assured's name for Underwriters' benefit any claim for indemnity or damages or otherwise against any third party, and shall have full discretion in the conduct of any negotiations and proceedings and the settlement of any claim. The Assured shall give to Underwriters such information and assistance as the Underwriters may reasonably require.
Basis of Settlement Clause
Market value at the time of loss or damage to be agreed by any independent individual or organisation mutually agreed by the Underwriters and the Assured.
Direct Adjustment Clause
In case of loss of property of others (insured hereunder) held by the Assured, for loss of which claim is made upon Underwriters, the right to adjust such loss with the owner or owners of the property is reserved to Underwriters and the receipt of such owner or owners in satisfaction thereof shall be in full satisfaction of any claim of the Assured for the loss of said property for which such payment has been made. If legal proceedings be taken to enforce claim against the Assured as respects any such loss, Underwriters reserve the right at their option without expense to the Assured, to conduct and control the defence on behalf of and in the name of the Assured. In no event is this Certificate liable for more than the total amount of insurance granted hereunder.
It is a condition precedent to the liability of Underwriters that all protections provided for the safety of the insured property be maintained in good order throughout the period of this insurance and be in use at all times when the premises are left unattended. Such protections shall not be withdrawn or varied without Underwriters consent.
It is a condition precedent
to the liability of Underwriters that a member of the Assured's staff
shall be in attendance at all times when the exhibition is open and the
property insured held in a security area and/or safe and/or vault at all
times when the exhibition is closed.
Personally Accompanied Transit Clause
It is a condition precedent to Underwriters' liability hereunder that all personally accompanied transits insured hereunder are to be made by the Assured, an employee of the Assured or an individual personally known to the Assured (or to a responsible member of the Assured's staff) and appointed as his/their personal representative, but this shall be deemed not to include professional carriers or couriers.
Due Diligence Clause
The Assured shall use due diligence and do and concur in doing all things reasonably practicable to avoid or diminish any loss of or damage to the property herein insured.
It is a condition precedent
to the liability of Underwriters that all postal sendings shall be made
UP TO £100 FIRST CLASS
MAIL WITH CERTIFICATE OF POSTING
UP TO £200 FIRST CLASS MAIL WITH CERTIFICATE OF POSTING
UP TO £200 FIRST CLASS MAIL WITH CERTIFICATE OF POSTING
UP TO £750 INTERNATIONAL PARCEL FORCE, INSURED PARCEL
UP TO POLICY LIMIT INTERNATIONAL
REGISTERED, DATAPOST, EXPRESS
English Jurisdiction Clause
It is hereby agreed that this insurance shall be governed by English law and, that the English Courts alone shall have jurisdiction in any dispute hereunder.
Notwithstanding anything contained in this Insurance to the contrary this Insurance may be cancelled by the Assured at any time by written notice or by surrender of this contract of insurance. This Insurance may also be cancelled by or on behalf of the Underwriters by delivering to the Assured or by mailing to the Assured, by registered, certified or other first class mail, at the Assured's address as show in this Insurance, written notice stating when, not less than 30 days thereafter, or 15 days in respect of non-payment of premium, the cancellation shall be effective. The mailing of such notice as aforesaid shall be sufficient proof of notice and this Insurance shall terminate at the date and hour specified in such notice,
If this Insurance shall be cancelled by the Assured the Underwriters shall retain the customary short rate proportion of the premium hereon, except that if this Insurance is on an adjustable basis the Underwriters shall receive the earned premium hereon or the customary short rate proportion of any minimum premium stipulated herein whichever is the greater.
If this Insurance shall be cancelled by or on behalf of the Underwriters the Underwriters shall retain the pro rata proportion of the premium hereon, except that if this Insurance is on an adjustable basis the Underwriters shall receive the earned premium hereon or the pro rata proportion of any minimum premium stipulated herein whichever is the greater.
Radioactive Contamination and Explosive Nuclear Assemblies Exclusion Clause
This Certificate does not cover:
(a) loss or destruction of or damage to any property whatsoever or any loss or expense whatsoever resulting or arising therefrom or any consequential loss
(b) any legal liability of whatsoever nature
directly or indirectly caused by or contributed to by or arising from
(i) ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel
(ii) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.
War and Kindred Risks Clause
Notwithstanding anything to the contrary contained herein this Certificate does not cover loss, damage or liability directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any govermnent or public or local authority.
EXTENSION - OFFICE CONTENTS
Subject to the General Exclusions and General Conditions of this Insurance and the Specific Exclusions and Specific Conditions of this Extension, Underwriters will indemnify the Assured against loss or damage to the Property Insured caused by or arising out of a Peril Insured under this Extension, but not exceeding the sum insured specified hereunder.
The contents and fixtures and fittings of the Assured's premises, being the property of the Assured or their employees or for which they are responsible, including tenants' fixtures and fittings, telephone, gas and electrical installations, the Assured's own, or for which they are legally responsible, but not including philatelic nor associated material nor cash.
Additionally, this Extension includes cover for:
1) Costs and expenses necessarily incurred by the Assured with the consent of the Underwriters in connection with the removal of debris and clearing the premises.
2) Cost of replacement of locks if one or more lock is damaged in the course of theft or attempt thereat subject to a maximum of £500 any one loss.
3) Architects', surveyors', legal and other fees necessarily incurred in the reinstatement of the property insured following upon loss or damage insured under this Section (but not fees for preparing any claim or estimate of loss) but not exceeding the amount recommended under any scale regulating such charges at the time of the loss or damage.
Loss or damage caused by or arising out of:
A) Fire, Lightning, Explosion, Earthquake, Thunderbolt and Subterranean Fire.
B) Theft or any attempt thereat (including damage done by a thief or thieves to the Assured's premises when such damage is the Assured's responsibility).
C) Storm, Tempest, Flood, Bursting and/or Overflowing of Water Tanks, Apparatus and Pipes.
D) Aircraft and other Aerial Devices or Articles dropped therefrom.
E) Riot, Civil Commotion, Strikes,
Locked Out Workers, Persons taking part in Labour Disturbances or Persons
of Malicious Intent.
F) Bursting and/or Overflowing of fixed Oil Tanks, Apparatus and Pipes.
G) Impact at the Assured's premises by any Road Vehicle, Horse or Cattle not belonging to the Assured, or members of the Assured's household or employees of the Assured.
H) Falling Trees or Branches.
This Insurance does not Cover:
The first £50 of each and every claim.
Any loss, damage, cost, claim
or expense directly or indirectly arising out or relating to the failure
Basis of Settlement Clause
In the event of the total loss or destruction by any of the insured perils of any article, the basis of settlement shall be the cost of replacing the article new, provided that the article is substantially the same as, but not better than the original article when new and the Assured incurs the cost of replacement.
EXTENSION - OFFICE CONTENTS ACCIDENTAL DAMAGE
It is hereby noted and agreed that Extension 1 (Office Contents) extends to cover Accidental Damage by external and visible means to Office Contents at the Address shown in the schedule for the sum insured as specified within Office Contents Extension.
This Insurance does not Cover:
1. Destruction of or damage to any dynamo, transformer, motor, wiring, main or other electrical appliance or any machinery or apparatus dependent upon electricity for its operation including (without prejudice to the generality of the foregoing) accounting machines, dictaphones, computers and typewriters directly caused by short circuiting, overrunning, excessive pressure or leakage of electricity but this exclusion does not apply to damage thereto by fire resulting from such cause and originating outside such appliance, machinery or apparatus.
2. Mechanical or electrical derangement or breakdown.
3. Loss of or damage to computer system records, tapes, disks and the like or any claim whatsoever arising from such loss or damage.
4. Damage or deterioration of any article directly caused by the actual process of dyeing, cleaning, repair, renovation or whilst being worked upon.
5. Staining arising
from spillage of food, food substances, consumable liquids and soilage
7. Any loss, damage, cost, claim or expense directly or indirectly arising out or relating to the failure of any equipment, integrated circuit, computer chip, computer software or any other computer related equipment to recognise correctly the date change to the year 2000 or any other date change