Commercial Business Package Insurance Policy
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Lumley Insurance Commercial Business Package > Policy Wording Commercial Business Package Insurance Policy
Lumley Insurance Commercial Business Package > Policy Wording Lumley Insurance Commercial Business Package > Policy Wording > Table of Contents Commercial Business Package Commercial Business Package 3 Policy Wording and Product Disclosure Statement IMPORTANT INFORMATION 6 THEFT COVER SECTION 35 The insurer of this Commercial Business Package insurance is 1. Entering the Policy with Us 6 Cover 35 WFI Insurance Limited ABN 24 000 036 279 AFS Licence No. 2. Cost of the Insurance 6 Basis of settlement 35 241461, trading as Lumley Insurance. 3. Duty of disclosure 6 Additional Benefits 35 This document contains important information about this 4. Other party’s interests 7 Optional Extension 37 insurance and how it works. Before making a decision to take 5. Cooling Off 7 Exclusions 37 up this insurance, please read this document carefully. 6. Code of Practice 7 To determine if this insurance is appropriate for You, it is 7. Complaints 7 MONEY COVER SECTION 38 important that You read: 8. Privacy 7 Definitions 38 • this Introduction and the Important Information - it 9. Goods and Services Tax (GST) 9 Cover 38 contains information on important matters You need to 10. Terrorism Insurance Act 2003 (Cth) 9 Defined events 38 be aware of before applying for this product; 11. Intermediaries, General Advice Services provided by Lumley Insurance or its intermediaries 9 Basis of settlement 38 • the Policy, which explains the features, benefits, terms Additional Benefits 38 12. Underinsurance 10 conditions and exclusions of this product; Optional Extensions 40 13. Financial Claims Scheme 10 • any other documents We provide to You about this 14. Exclusions and Conditions 10 Conditions 40 product which may change the features, benefits, terms, Exclusions 40 15. Updating Product Disclosure Statement 10 conditions and exclusions described in the Policy. 16. Section 40 Insurance Contracts Act 1984(Cth) 10 17. Victorian Fire Service Levy 10 GLASS COVER SECTION 42 Preparation Date: 12 May 2014 Definitions 42 GENERAL PROVISIONS 11 Cover 42 General definitions 11 Basis of settlement 42 General exclusions 12 Additional Benefits 42 General conditions 14 Exclusions 43 FIRE AND PERILS COVER SECTION 18 BROADFORM LIABILITY COVER SECTION 44 Definitions 18 Definitions 44 Cover 19 Cover 46 Basis of settlement 19 Limits of liability and excess 47 Defined events cover 20 Additional Benefit 47 NEW SOUTH WALES VICTORIA WESTERN AUSTRALIA Accidental damage cover 20 Optional Extensions 48 Lumley House Level 3, 99 King Street Level 7, 5 Mill Street Exclusions 49 Additional Benefits 21 Level 9, 309 Kent Street Melbourne VIC 3000 Perth WA 6000 Conditions 52 Sydney NSW 2000 Phone: (03) 8627 4333 Phone: (08) 9220 8222 Optional Extensions 24 Phone: (02) 9248 1111 Fax: (03) 8627 4312 Fax: (08) 9220 8251 Exclusions 24 Fax: (02) 9248 1122 Conditions 25 GENERAL PROPERTY COVER SECTION 54 TASMANIA QUEENSLAND 50 Glebe Road 76 York Street Level 2, 99 Melbourne Street Definitions 54 The Junction Launceston TAS 7250 South Brisbane QLD 4101 Cover A – Accidental Loss or Damage 54 BUSINESS INTERRUPTION COVER SECTION 27 Newcastle NSW 2291 Phone: (03) 6345 4700 Phone: (07) 3307 4800 Cover B – Fire, Theft, Collision and other Phone: (02) 4925 7500 Fax: (03) 6345 4711 Fax: (07) 3307 4899 Definitions 27 expressed perils 54 Fax: (02) 4940 0295 Cover 28 SOUTH AUSTRALIA NORTHERN TERRITORY Basis of settlement – Covers A & B 54 Part A – Annual revenue basis 28 CANBERRA 465 Pulteney Street Level 2, Beagle House Cover C– Goods in transit 54 Level 4, 10 Rudd Street Adelaide SA 5000 38 Mitchell Street Part B – Weekly revenue basis 28 Basis of settlement – Cover C 54 Canberra City ACT 2600 Phone: (08) 8228 1700 Darwin NT 0800 Part C – Insurable gross profit basis 29 Exclusions – Cover C 54 Phone: (02) 6279 0333 Fax: (08) 8228 1777 Phone: (08) 8946 4600 Common clauses to parts A, B and C 30 Fax: (02) 6279 0330 Fax: (08) 8946 4666 Exclusions – Covers A, B & C 55 Additional Benefits 32 Optional Extension 33 Conditions 34 Lumley Insurance is a trading name of WFI Insurance Limited ABN 24 000 036 279 AFSL 241461. The ‘Greater Than’ symbol is a registered trademark of Lumley Insurance.
Lumley Insurance Commercial Business Package > Policy Wording > Table of Contents Lumley Insurance Commercial Business Package > Policy Wording > Table of Contents Commercial Business Package Commercial Business Package 5 MACHINERY AND ELECTRONIC COVER SECTION 56 MOTORPACK® - PRODUCT DISCLOSURE STATEMENT 85 PART C - MOBILE PLANT & EQUIPMENT 114 Important information 56 Premium 85 Definitions 114 Definitions 56 Excess 85 Section 1 – Material damage 115 Part 1 – Machinery Cover 56 Section 2 – Road risk liability 118 – Basis of settlement 56 General extensions 120 MOTORPACK® SIGNIFICANT FEATURES AND BENEFITS 86 – Exclusions 57 General exclusions 121 Part A – Commercial Motor 86 – Optional Extensions 58 Specific exclusions applicable to section 1 122 Part B – Heavy Motor 88 Part 2 – Electronic Cover 58 Specific exclusions applicable to section 2 123 Part C – Mobile Plant & Equipment 90 – Basis of settlement 59 General conditions 125 – Exclusions 59 – Conditions 59 PART A - COMMERCIAL MOTOR 94 – Optional Extensions 59 Definitions 94 Exclusions 60 Section 1 – Cover for Your vehicle 94 Conditions 62 Specific exclusions - Applicable to Section 1 98 Section 2 – Cover for Damage to Third Party Property 98 Specific exclusions - Applicable to Section 2 99 EMPLOYEE DISHONESTY COVER SECTION 63 General extensions applicable to all sections 99 Definitions 63 General exclusions applicable to all sections 100 Cover 63 General conditions applicable to all sections 101 Basis of settlement 64 Additional Benefits 64 Exclusions 64 PART B - HEAVY MOTOR 103 Conditions 64 Definitions 103 Section 1 – Cover for Your vehicle 104 Specific exclusions - Applicable to Section 1 107 TRANSIT COVER SECTION 66 Section 2 – Liabilities to third parties 107 Definitions 66 Specific exclusions - Applicable to Section 2 109 Cover 66 General extensions - Applicable to all sections 110 Basis of settlement 66 General exclusions - Applicable to all sections 110 Additional Benefits 66 General conditions - Applicable to all sections 111 Exclusions 66 Conditions 67 MANAGEMENT LIABILITY COVER SECTION 68 About this Policy Section 68 General Provisions 68 General Extensions 71 Coverage Part 1 – Directors & Officers Liability 77 Coverage Part 2 – Employment Practices Liability 80 Coverage Part 3 – Statutory Liability 81 Coverage Part 4 – Company Liability 81
Lumley Insurance Commercial Business Package > Policy Wording > Important Information Lumley Insurance Commercial Business Package > Policy Wording > Important Information Important Information Important Information 7 1. ENTERING INTO THE POLICY WITH US 2. COST OF THE INSURANCE You have a duty, under the Insurance Contracts Act 1984, to 7. COMPLAINTS Where We have agreed to insure You, We confirm this by In order to calculate Your Premium, We take various factors disclose to Us every matter that You know, or could reasonably If You have a complaint, You may contact Us and request that issuing You with a Policy Schedule which provides details into consideration, including the level of cover requested and be expected to know, is relevant to our decision whether to We review the matter. If You are dissatisfied with our decision, relevant to You, such as Sums Insured, Limits of Liability, the property to be insured. accept the risk of the insurance and, if so, on what terms. You may request it be reviewed by Our Internal Dispute Premium and Excesses. Factors that increase the risk to Us generally increase the Your duty however does not require disclosure of a matter: Resolution (IDR) Committee. The Policy, which is Your contract with Us, is entered into on Premium (eg. high claims experience or higher Sum Insured) • that diminishes the risk to be undertaken by Us; If You are unhappy with Our decision You may refer Your the basis of the information provided by You in the and factors that reduce the risk to Us generally reduce the • that is of common knowledge; dispute to the Financial Ombudsman Service (FOS). The FOS application process. Please ensure You have complied with premium (eg. low claims experience or lower Sums Insured). is a free and independent external dispute resolution scheme Your Duty of Disclosure as this can affect Your ability to claim. • that We know or, in the ordinary course of our business, for consumers approved by the Australian Securities and Your Premium also includes amounts that take into account ought to know; The Policy is entered into on the condition that You will pay Our actual or estimated obligation to pay any relevant Investment Commission for disputes. The scheme applies to the Premium required by Us by the agreed time (including compulsory government charges, taxes or levies (for example • where compliance with Your duty is waived by Us. matters that are covered by the FOS’ Terms of Reference. We any adjustments). Stamp Duty, GST and Fire Services Levy). Where We are are a member of this scheme and We agree to be bound by When answering any questions, You must be honest. required to pay an estimated amount (eg. For Fire Services the FOS’ determinations on disputes but You are not so In order to calculate Your Premium, We take various factors We will use the information You disclose in deciding whether bound. If You wish Your dispute to be determined by the FOS, into consideration, including the level of cover requested and Levies) based on criteria set by the Government, We allocate to insure You and anyone else to be insured under the Policy, You must refer Your dispute to the FOS within 2 years of the the property to be insured. to the Policy Our estimate of the amount We will be required and on what terms. date of Our final IDR response. You may refer the matter to to pay. We may under or over recover in any particular year Your Premium also includes amounts that take into account but We will not adjust Your Premium because of this. You can Consequence of non-disclosure the FOS by contacting them at: Our actual or estimated obligation to pay any relevant ask Us for more details if You wish. Financial Ombudsman Service If You fail to comply with Your duty of disclosure for a new compulsory government charges, taxes or levies (for example GPO Box 3 When You apply for this insurance, You will be advised of the Policy, or before You renew, extend, vary or reinstate Your Stamp Duty, GST and Fire Services Levy) Melbourne Victoria 3001 total amount payable, when it needs to be paid and how it can Policy We may be entitled to reduce our liability under the The Policy is made up of: be paid. This amount will be clearly set out in Your Schedule, Policy in respect of a claim or may cancel it. If Your non- Phone: 1300 78 08 08 • this document; which will be sent to You within 5 days of the issue of this disclosure is fraudulent, We may also have the option of Email: firstname.lastname@example.org product. If You fail to pay, We may reduce any claim payment avoiding the Policy from its commencement. Website: www.fos.org.au • the Policy Schedule; by the amount of Premium owing and/or cancel the Policy. • any endorsements to the Policy issued by Us. You may also be required to pay an excess in the event of a 4. OTHER PARTY’S INTERESTS 8. PRIVACY You need to: claim under this Policy. The amount of any excess will be shown on Your Policy schedule. We only cover persons specified in the Policy as entitled to We are committed to meeting Our privacy obligations to You • read these documents together as they set out all of the cover for the relevant interest specified. If You want to cover a under the Privacy Act 1988 (Cth) (‘the Act’). The Act provides terms and conditions of Your cover; person’s interest that is not specified You need to apply to Us for information to be collected, used, disclosed and held in • check them to make sure that the cover given is what You 3. DUTY OF DISCLOSURE for this. accordance with the Australian Privacy Principles (APPs) from want; 12 March 2014 and prior to 12 March 2014 in accordance with Your duty of disclosure for a new Policy • keep them together in a safe place for future reference the National Privacy Principles (“NPP”). The Insurance Contracts Act 1984 requires that any information 5. COOLING OFF along with receipts, and other evidence of ownership and You agree that We may collect, use, disclose and hold Your that We seek must be collected by a specific question. If You are not completely satisfied with the Policy You may value of items You have specified on the proposal form, or personal information as set out below. any other application for insurance, and for any other When answering our questions, You must be honest and You cancel it by notifying Us in writing within 30 days of cover have a duty under the Insurance Contracts Act 1984 to tell Us having commenced. You will receive a refund of the amount Collection items of significant value. anything known to You, and which a reasonable person in the You have paid unless You have made or are entitled to We collect information which is reasonably necessary to If You do not meet Your obligations under the Policy, We may make a claim under the Policy. You still have cancellation circumstances, would include in answer to the question. We provide Our services for underwriting and administering Your cancel it and/or reduce Our liability in respect of a claim to rights after this Cooling Off period ends, which are set out will use the answers in deciding whether to insure You and insurance, claims handling, market and customer satisfaction the extent permitted by law. in the General Conditions. anyone else to be insured under the Policy, and on what research and to develop and identify products and services If You need more information about the Policy please contact terms. It is important that You understand You are answering that may interest You. Collection will only take place by lawful Your insurance adviser or Us. our questions in this way for yourself and anyone else that and fair means. You want to be covered by the Policy. 6. CODE OF PRACTICE We collect information regarding You, other people, any risk Your duty of disclosure before You renew, extend, vary or The Insurance Council of Australia Limited has developed the to be insured, previous claims or losses, details of previous reinstate Your Policy General Insurance Code of Practice, which is a self regulatory insurances and insurers, credit status and any matters relevant code for use by all insurers. The Code aims to raise the to the insurance to be provided. standards of practice and service in the insurance industry. We collect personal information directly or indirectly by We are a signatory to the Code. If You require further telephone, email, facsimile, online, post, external agencies and information about the General Insurance Code of Practice, in person from You or another person or persons. please contact Us.
Lumley Insurance Commercial Business Package > Policy Wording > Important Information Lumley Insurance Commercial Business Package > Policy Wording > General Provisions Important Information General Provisions 11 12. UNDERINSURANCE internal record of such changes (You can get a paper copy GENERAL DEFINITIONS “Period of Insurance” means the time cover commences to It is Your responsibility to ensure that the Sums Insured of the free of charge by calling Us). These definitions shall apply unless there is a more specific the time cover expires. The dates are shown on the current Vehicle or property You want insured by this Policy are Other documents may form part of our Product Disclosure definition. Policy Schedule. Unless stated otherwise, cover shall expire at adequate. Sums Insured should reflect the new replacement Statement and Policy. If they do We will tell You in the 4.00pm local time at the place where You arranged the cover. “Aircraft” means any craft or object designed to travel value of any Vehicle or property to be insured. If Sums Insured relevant document. through air or space, other than model Aircraft. “Policy” means this document, the Policy Schedule and any are not adequate, claims may not be paid in full. attachment or memoranda affixed and any future documents “Business Hours” means when You or any of Your issued to You which amends the Policy wording or Policy You should review the adequacy of Sums Insured periodically 16. SECTION 40 INSURANCE CONTRACTS ACT 1984(CTH) employees are at the Business Premises for the purpose of during the Period of Insurance and prior to renewal each year. Schedule. Together they form the insurance contract. The following only applies to the Management Liability Cover conducting Your Business. Inadequacy of Sums Insured can present significant issues of “Policy Schedule” means the most current Schedule of financial hardship. If You are unable to establish the adequacy Section of this Policy: “Business Premises” the buildings, outbuildings, yards and Insurance or any future renewal Schedule, including any of Sums Insured, You should seek assistance from Your Management Liability is issued on a “Claims made and land used by You for Your Business at the Situation. endorsements issued by Us in connection with this Policy. insurance advise. notified basis”. “Business Property” means buildings, contents, Stock “Rewriting of Records” means the cost of restoration of 13. FINANCIAL CLAIMS SCHEME This insurance contract does not provide any cover for events and items listed on the current Policy Schedule and used computer records, documents, manuscripts, securities, deeds, which occurred before the contract was entered into, unless in Your Business. specifications, plans, drawings, designs, business books and This policy may be a ‘protected policy’ under the Federal Government’s Financial Claims Scheme (FCS) and only applies the Policy Schedule specifies otherwise. “Computer Virus” means an executable program or other records of every description. in the event of an insurer becoming insolvent and the Federal This insurance Policy does not provide any cover for Claims computer code segment that is self-replicating, requires a “Situation” means the Situation stated in the current Treasurer declaring that the FCS will apply to that insurer. made after the expiry of Your Policy. However, under s40(3) of host program or executable disc segment in which it can be Policy Schedule. the Insurance Contracts Act 1984(Cth) (ICA) We are not relieved contained and which destroys or alters the host program or Payment of a claim under the FCS is subject to the Scheme’s other computer code or data causing undesired program or “Stock” means: eligibility criteria being met. of liability by reason only that the Claim was made after the expiration of the insurance if: computer system operation. a) products and material You intend to sell; Information about the FCS can be obtained from the “Excess” means the amount, or the loss applicable to a b) raw or consumable materials used by You to make or alter Australian Prudential Regulation Authority at a) You give notice before the Policy expires to Us of facts which may give rise to a claim against You; and specified period of time, expressed as an Excess on the Your products; www.apra.gov.au or by calling 1300 55 88 49. current Policy Schedule or elsewhere in the Policy. This is the b) That notice is given to Us as soon as reasonably c) Your products while being made, repaired or altered; first amount of any loss that You must pay before We pay practicable after You became aware of those facts. Your claim. d) any consumable products or materials used in Your 14. EXCLUSIONS AND CONDITIONS Business; The above explanation of the operation of s40(3) of the ICA “Family” means any member of Your Family who lives General Exclusions apply to all sections of this Policy. Each does not form part of this Policy wording. e) goods for which You are responsible. section also contains exclusions which apply specifically to permanently with You, including Your partner. that section. The exclusions explain the circumstances in “Flood” means the inundation of normally dry land by water Under the Theft cover section, Stock does not include tobacco, which We will not cover You. Please refer to the General 17. VICTORIAN FIRE SERVICE LEVY (“FSL”) escaping or released from the normal confines of any natural products containing tobacco, cigars, cigarettes or alcohol Exclusions and the exclusions in each section for full details. watercourse or lake (whether or not they have been altered or unless they are specified on the current Policy Schedule. Any amount paid or payable under this Policy for the Victorian General Conditions apply to all sections of this Policy. Each modified) or from any dam, reservoir or canal. “Strongroom” means a burglar-resistant structure component of the FSL shown in the (“the Victorian FSL”) will section also contains exclusions which apply specifically to not be refunded if a premium refund is allowed as a result of “Hovercraft” means any vessel, craft or device made or constructed of masonry and steel which has been designed that section. The conditions explain the obligations which this Policy being amended or cancelled except: intended to float on, or in, or travel on or through the to resist fire and attack by hand-held or power operated tools You must comply with to be able to make a valid claim. atmosphere or water on a cushion of air provided by a and has been specifically designed for the storage of Money a) if this Policy is cancelled during the cooling off period as and valuables. Please refer to the General Conditions and the conditions in downward blast. shown under ‘Important Information 5: Cooling off’, We each section for full details. “Money” means current coin, bank notes, currency notes, “Subsidiary Company” means any company in which You will refund the FSL; or cheques, credit card sales vouchers, securities, postal orders, have a controlling interest. For the purpose of this definition b) if this Policy is amended or cancelled due to the sale of the term ‘controlling interest’ shall mean the beneficial 15. UPDATING THE PRODUCT DISCLOSURE STATEMENT Money orders, negotiable and nonnegotiable securities and Business Property insured by this Policy and provided that ownership of shares carrying more than fifty per cent (50%) of other like documents of value, phone cards and/or stored We may need to update this Product Disclosure Statement the property sold was the subject of the Victorian FSL, We votes capable of being cast at a general meeting of all value cards, unused postage and revenue stamps, public from time to time if certain changes occur where required will refund the unused portion of the Victorian FSL that shareholders of the company. transport tickets, private transport tickets (excluding airline and permitted by law. We will issue You with a new Product had been charged in relation to that property. tickets), bridge or highway tokens, car wash tokens, lottery “Terrorism” means an act including but not limited to the Disclosure Statement or a Supplementary Product Disclosure Subject otherwise to the terms, conditions and exclusions of tickets, authorised gift vouchers, discount vouchers from use or threat of force or violence by any person or group(s) of Statement or other compliant document to update the the Policy. external parties, contents of franking machines; and includes persons, whether acting alone or on behalf of or in relevant information except in limited cases. Where the cash boxes, alarm bags, or any other portable container used connection with any organisation(s) or government(s) which information is not something that would be materially to convey Money all belonging to You or for which You are from its nature or context is committed for or in connection adverse from the point of view of a reasonable person legally responsible or have assumed a responsibility to insure with any political, religious, ideological, ethnic or similar considering whether to buy this insurance, We may issue You but does not mean any of these in the possession of or purposes or reasons, including the intention to influence any with notice of this information in other forms or keep an carried by professional Money carriers, professional carriers or government and/or to put the public or any section of the common carriers. public in fear.
Lumley Insurance Commercial Business Package > Policy Wording > General Provisions Lumley Insurance Commercial Business Package > Policy Wording > General Provisions General Provisions General Provisions 13 “Vehicle” means any type of machine on wheels or on c) Radioactive Contamination 4. Unoccupancy consequential loss that is solely and directly occasioned by a self-laid tracks made or intended to be propelled by other We will not pay for any: Unless We otherwise agree in writing, We will not pay for any defined contingency (as defined hereunder), arising under than manual or animal power, and any trailer or other loss or damage to Your Business Property if the occurrence any of the following cover sections: attachment to be utilised in conjunction with or drawn by a) loss or damage to property eligible for insurance by the relevant Nuclear Insurance Pool and/or happens after Your Business Premises has been unoccupied a) Fire and Perils; any such machine. for more than 90 consecutive days. Association; or b) Business interruption; “Watercraft” means any vessel, craft or thing made or intended to float on or in or travel through water, other than b) loss, cost, damage, liability or expense directly 5. Wilful acts c) Money; model boats. or indirectly caused by or contributed to by or Subject to the provisions of the Insurance Contracts Act 1984, d) Glass; arising from: We will not pay for any loss or damage caused by either Your “You” or “Your” means the person(s), companies or firms e) Machinery and electronic; named on the current Policy Schedule as the ‘Insured’. i) ionising radiation from or contamination wilful act or by the wilful act of another party committed by radioactivity from any nuclear fuel or from with Your knowledge and consent, which You were capable f) General Property; “Your Business” means the business as described in the any nuclear waste or from the combustion of of preventing. but only to the extent that such claim would otherwise be Policy Schedule (and, where applicable, as further described nuclear fuel; insured under those sections. in any more specific underwriting information provided to Us 6. Known defects at the time when this insurance was negotiated). ii) the radioactive, toxic, explosive or other This exclusion does not apply in respect of the Theft cover hazardous or contaminating properties of any We will not pay for loss or damage caused by faults or defects section, if provided by this Policy. “We”, “Us”, or “Our” means the insurer of the Policy, WFI nuclear installation, reactor or other nuclear known to You, or any employee whose knowledge in law Insurance Limited A.B.N. 24 000 036 279, trading as Lumley would be deemed to be Yours, and not disclosed to Us at the For the purposes of this exclusion only, ‘Defined contingency’ assembly or nuclear component thereof; Insurance. time this insurance was arranged. shall mean fire, lightning, explosion (other than loss or iii) any weapon or device employing atomic or destruction of or damage to boilers and pressure vessels), nuclear fission and/or fusion or other like reaction 7. Date recognition Aircraft and other aerial devices or articles dropped from GENERAL EXCLUSIONS or radioactive force or matter; or them, riot, civil commotion, strikers, locked out workers, In respect of any claim of whatsoever nature which consists The following General exclusions apply to all Parts of this iv) the radioactive, toxic, explosive or other of, or arises directly or indirectly out of, or in connection with persons taking part in labour disturbances, malicious persons, Policy. hazardous or contaminating properties of any the failure or inability of any: earthquake, storm, Flood, escape of water from any tank or radioactive matter. apparatus or pipe, impact by any road Vehicle or animal, or 1. a) War a) electronic circuit, microchip, integrated circuit, theft (other than theft by employees). This Policy also excludes any loss, destruction, damage, death, microprocessor, embedded system, BIOS or other We will not pay for any loss or damage arising directly or injury, illness, liability, cost or expense of any nature directly or instruction set, hardware, software, firmware, program, 8. Electronic Data exclusion indirectly as a result of: indirectly caused by, (or contributed to by, resulting from, or computer, data processing equipment, We will not cover Electronic Data or the cost of rewriting i) war, invasion, act of foreign enemy, hostilities or arising out of, or in connection with) any action taken in telecommunication equipment or systems, or any similar records as a result of loss of electronic data. warlike operations (whether declared or not) and/ or controlling, preventing, suppressing, retaliating against, or device; or any civil war; and/or responding to or in any way relating to the above. However, We will provide cover for losses to electronic data b) media or systems used in connection with any of the and Rewriting of Records arising out of the following perils: ii) mutiny, civil commotion assuming the proportions of 2. Business in liquidation or ceases to trade foregoing, whether Your property or not, at any time to or amounting to a popular rising, military rising, achieve fully and successfully any or all of the purposes fire, lightning; thunderbolt, explosion, implosion, earthquake, insurrection, rebellion, revolution, military and/or If Your Business is placed into liquidation or administration, a and consequential effects intended by the use of any subterranean fire, volcanic eruption, impact, Aircraft and/or usurped power. receiver is appointed or the business is wound up or is number, symbol or word to denote, represent or express other aerial device, breakage of glass, the acts of persons taking permanently discontinued, then unless otherwise agreed by a date including, but without being limited to, any failure part in riots or civil commotions or of strikers or of locked out b) Terrorism Us in writing, all cover under this Policy ceases from the time workers or of persons taking part in labour disturbances which or inability to recognise, capture, save, retain or restore i) We will not pay for any death, injury, illness, loss, Your interest is transferred or Your Business ceases to trade. and/or correctly to manipulate, interpret, transmit, return, do not assume the proportions of or amount to an uprising, damage, liability, cost or expense of any nature calculate or process any date, data, information, storm, tempest, rainwater, wind, hail, water and/or other directly or indirectly caused by, resulting from, or in 3. Geographical limitations liquids, substances discharged, overflowing and/or leaking command, logic or instruction as a result of or in connection with, any act of Terrorism regardless of Unless We agree in writing to the contrary, We will not pay for connection with: from any apparatus, appliance or pipes. any other contributing cause or event. any loss or damage to a Vehicle or property insured by this If the Theft cover section of the Policy is current We will also Policy that is outside the Commonwealth of Australia at the i) anything referred to in (a) or (b) recognising, using or ii) We will not pay for any death, injury, illness, loss, adopting any date, day of the week or period of time, provide cover for losses to electronic data arising out of theft damage, liability, cost or expense of any nature time of its loss or damage, except as specifically stated of any computer and/or computer hardware, firmware, otherwise in the appropriate Part. otherwise than as, or other than, the true or correct directly or indirectly caused by, resulting from, or in date, day of the week or period of time; or microchip, integrated circuit or device containing such connection with, any action taken in controlling, electronic data. preventing, suppressing or in any way relating to the ii) the operation of any command or logic which has been programmed or incorporated into anything If the Electronic equipment cover section of the Policy is matters set out in paragraph b)(i) of this Exclusion. current and Electronic Data and electronic data media is referred to in (a) or (b) above. General exclusion b) does not apply to the Theft, Money, Glass insured We will also provide cover for losses to electronic data and General Property Sections. This exclusion will not exclude any claim for subsequent loss, arising out of vibration, power surge, low voltage, mechanical, destruction of, or damage to any Business Property or electrical and electronic breakdown, but not breakdown
Lumley Insurance Commercial Business Package > Policy Wording > General Provisions Lumley Insurance Commercial Business Package > Policy Wording > General Provisions General Provisions General Provisions 15 occurring as a result of any virus, worm, Trojan Horse, hacking, c) a premium funding company only in accordance with the 7. Designation of property 11. Jurisdiction or any unauthorised access. power of attorney You granted to such company. We will For the purpose of determining under which item any All disputes arising out of or under this Policy shall be subject For the purposes of this exclusion electronic data means any refund the premium for the unexpired Period of Insurance property is insured, We agree to accept the designation under to determination by any court of competent jurisdiction within facts, concepts and/or information converted to a form usable to the premium funding company, from the date We which such property appears in Your books of account. Australia according to the law which applies to that jurisdiction. for communications, displays , distribution, receive the request or, the date they specify if that is a later date. Provided always that this General Policy condition shall not 12. Non-imputation processing by electronic and/or electromechanical data apply to the Theft cover section with respect to tobacco, processing or electronically controlled equipment which 5. Claims preparation expenses products containing tobacco, cigars, cigarettes and alcohol. Where this insurance is arranged in the joint names of more includes but is not limited to programs, software or other than one insured, as described in the definitions of You, it is We will pay for costs necessarily and reasonably incurred for Furthermore, under the Theft cover section, Stock does not hereby declared and agreed that: coded instructions for such equipment. the preparation of a claim for which We agree to indemnify include tobacco, products containing tobacco, cigars, You under this Policy. The most We will pay is $25,000 in total cigarettes or alcohol unless they are specified on the current a) each insured shall be covered as if it made its own for any one claim, unless a higher amount is included in the Policy Schedule. proposal for this insurance; GENERAL CONDITIONS particular section of the Policy. b) any declaration, statement or representation made in any The following general conditions apply to all sections of 8. Excess proposal shall be construed as a separate declaration, this Policy. This is provided that before You incur these claim preparation costs You obtain Our written approval to incur these costs. If more than one Excess can be applied to one occurrence, statement or representation by each insured; 1. Breach of Condition or Warranty then You will only need to pay the highest Excess. Sums c) any knowledge possessed by any insured shall not be 6. Claims Insured, Limits and sub-Limits of Liability shall apply in imputed to the other insured(s). Breach of a condition or warranty without Your knowledge or addition to, and shall not be reduced by, the amount of any consent or error in name, description or Situation of property What You must do after loss, damage or accident: applicable Excess. 13. Other persons or organisations will not prejudice Your rights under this Policy provided a) Protect Yourself from any danger present; notice in writing is given to Us when such breach or error This General Condition will not apply to the Motorpack® If any person or entity shall have any interest in the Business b) Assist other people within Your capabilities if required; Section of the Policy. Property, We shall protect that interest in the event of a claim, comes to Your knowledge. Reasonable extra premium shall be paid if required, from the date of such breach or error. c) Take reasonable steps to prevent further loss, damage provided that interest is disclosed in Your Business records or liability; 9. Goods and Services Tax (GST) and You shall have disclosed the nature and extent of that 2. Accountancy records d) Notify the police immediately if any of Your property is lost, The amount of premium payable by You for this Policy interest to Us at the time of notification of the claim. You must provide to Us all books of account, business books stolen, or maliciously damaged and provide the police with includes an amount on account of the GST on the premium. Where the separate interests of more than one party in the and other documents as may be required to investigate or all assistance to apprehend the offending party; When We pay a claim, Your GST status will determine the Business Property are insured under this Policy, any act or verify claims. If You do not, We may refuse to pay or may amount We pay. neglect of one party will not prejudice the rights of the e) Advise Us of the claim as soon as practicable and then reduce the amount of a claim. supply Us with full written details by completing Our When You are: remaining party or parties provided that the remaining claim form. You or someone acting on Your behalf must a) not registered for GST, the amount We pay is the Sum party(ies) shall, within a reasonable time after becoming 3. Bankruptcy or insolvency aware of any act or neglect whereby the risk of loss, damage complete a claim form within a reasonable time of an Insured/limit of indemnity or the other limits of insurance In the event that You should become bankrupt or insolvent, occurrence. If You do not, We may reduce the amount We cover including GST; or destruction has increased, give notice in writing to Us and We shall not be relieved thereby of the payment of any claims pay if the delay causes increased costs or prevents Us shall on demand pay such reasonable additional premium as hereunder because of such bankruptcy or insolvency. b) registered for GST, We will pay the Sum Insured/ limit of We may require. investigating the claim; indemnity or the other limits of insurance. Any payments In case of execution against You of any final judgment f) Any invoices, bills, demands letters or notices You receive We make will be reduced by any relevant GST You cannot transfer the Policy into someone else’s name covered by this Policy being returned ‘unsatisfied’ by reason from other people involved in the loss, damage or component, including but not limited to, any input tax without Our written consent. of such bankruptcy or insolvency, then an action may be accident must be sent to Us as soon as possible. credit to which You are entitled for any acquisition which All persons entitled to claim under the Policy are bound by maintained by the injured party or their representative against is relevant to Your claim, or which You would have been the terms and conditions of the Policy. Us in the same manner, and to the same extent as You but What You must not do after a loss or accident: entitled were You to have made a relevant acquisition. When a claim is paid under the Policy and is also recoverable not in excess of the Limit of Liability. a) You must not admit fault or agree to pay for damage without Our consent. Do not make an offer, settle, or You must advise Us of Your correct entitlement to an input under another Policy or policies, You agree to permit Us to 4. Cancellation attempt to settle any claim against You. If You do We may tax credit on Your Premium and the correct entitlement to an seek contribution from the other insurer or insurers. not pay all or part of the claim. input tax credit on each item of property to be insured. The Policy may be cancelled by: 14. Our maximum liability b) You must not incur any costs or expenses or authorise Any GST liability arising from Your incorrect advice is payable a) You at any time by notifying Us in writing. We will refund Except as otherwise stated elsewhere in this Policy, the repairs (other than necessary temporary repairs) without by You. the premium for the unexpired Period of Insurance; maximum amount We will pay will not exceed the amount Our agreement. 10. Inspections stated in the Policy Schedule as the Sum Insured or the Limit b) Us, only where allowed by the Insurance Contracts Act 1984. We will refund the premium for the unexpired We (or agents appointed by Us) have the right to inspect of Liability for those sections selected. Period of Insurance; and examine, by mutual appointment, any Business The Sum Insured and sub-Limits of Liability shall apply in Property insured. addition to, and shall not be reduced by, the amount of any applicable Excess.
Lumley Insurance Commercial Business Package > Policy Wording > General Provisions Lumley Insurance Commercial Business Package > Policy Wording > General Provisions General Provisions General Provisions 17 15. Premium funders We will not reinstate the Sum Insured on the Fire and Perils b) You may without prejudicing Your position under If the premium has been funded by a premium funding cover or Business Interruption cover sections if We have paid this Policy: company which holds a legal right over the Policy by virtue of a total loss under either of these sections. i) release any statutory governmental, semi a notice of assignment and irrevocable power of attorney, a 19. Rewards -governmental or municipal authority from any refund will be made to the premium funding company of the liability if required at law to do so; proportionate part of the premium applicable to the We will pay You up to $5,000 or any higher amount shown in the current Policy Schedule for the reasonable cost of any ii) agree to enter into a contract for storage of goods or unexpired Period of Insurance. merchandise if the terms of the contract include a reward paid by You to recover any property belonging to You 16. Progress payments or for which You are responsible that is lost, destroyed or disclaimer clause; We will not unreasonably withhold progress payments. We damaged and which is insured under the Fire and Perils, Theft, iii) agree to enter into a lease for occupancy of any will make progress payments on claims at intervals to be Money or Glass cover sections of this Policy. building or part of a building, or a lease, or hiring of agreed by Us following receipt of an interim report from Our However: property where the terms of the lease, or hiring, loss adjuster or representative. include a disclaimer clause in favour of the lessor or a) the terms of the reward must be agreed by Us before it is the owner. 17. Reasonable care offered; and You must take reasonable precautions to prevent personal b) no such payment shall be made by You unless the value injury or property damage as if You were not covered by this of the property recovered exceeds the reward. Policy such as: We shall not unreasonably withhold or refuse consent a) if You discover Your products may be defective and the to the terms of any reward payable under this General defect may cause a claim under the Public and Products Policy condition. Liability cover section, at Your expense You must take 20. Sale of salvage reasonable steps to restrict, trace, recall, modify, replace or repair the products; We will not sell or dispose of any salvage without giving You the opportunity to buy it at its salvage value, provided that this b) maintain and look after other person’s or organisation’s condition does not allow You to abandon the property to Us. property and buildings used or occupied by You, in accordance with Your agreement with them; This condition will not apply to the Motorpack® section of this Policy. c) if Your occupation includes digging below ground at sites away from Your Business Premises You must obtain the 21. Single occurrence location of underground services from the owners of the We will not pay for loss or damage to property covered by the services; Policy under more than one section of the Policy in respect of d) use and store all hazardous materials as required by law. the same item and occurrence unless a relevant Sum Insured If You do not take reasonable precautions We may refuse to has been paid out in full and You have not been fully covered pay part or all of Your claim. for the loss or damage. 18. Reinstatement of Sum Insured 22. Waiver of subrogation rights In the event of damage insured under one or more of the Fire We may not be liable to pay any benefits under this Policy for and Perils, Business Interruption, Theft, Money and Glass cover loss, damage or liability if You agree, or have agreed, to limit sections of this Policy, the amount by which the Sum Insured or exclude any right of recovery against any third party who or Limit of Indemnity is reduced as a consequence of the loss would be liable to compensate You with respect to that loss, or damage will be automatically reinstated as from the date of damage or liability however: loss or damage provided that: a) We shall waive any rights and remedies or relief to which a) there is no written request from You or written notice by We are or may become entitled by subrogation against: Us to the contrary; i) any co-insured (including directors, officers and b) the section is an operative section of the Policy; and employees); c) You pay the premium which We require for ii) any corporation or entity (including directors, officers the reinstatement. and employees) owned or controlled by any insured, or against, any co-owner of the property insured.
Lumley Insurance Commercial Business Package > Policy Wording > Fire and Perils Lumley Insurance Commercial Business Package > Policy Wording > Fire and Perils Fire and Perils Cover Section Fire and Perils Cover Section 19 This section forms part of the Policy only if shown in the aesthetic, historic, scientific or social value for past, This definition of ‘Contents’ is subject to the ‘Designation of dismantling) of damaged property insured necessarily Policy Schedule as having been taken by You. present or future generations; property’ General Policy condition. incurred to comply with the requirements of any Act of e) computer systems records, manuscripts, other “Market Value” means the estimated amount for which the Parliament or Regulation made under an Act or by-law or the documents, deeds, specifications, plans, drawings, Business Property should exchange immediately before the Regulation of any Municipal or Statutory Authority, subject to DEFINITIONS the following provisions and subject also to the terms, designs, business books and other records of every damage, between a willing buyer and a willing seller in an Some words have special meaning wherever they appear in description; arms-length transaction, after proper marketing, wherein the conditions and sums insured of this section. Provided that: this section. These words and their meanings are listed below. parties had each acted knowledgeably, prudently and a) the work of reinstatement, must be commenced and f) paintings, works of art and curios; “Buildings” means Buildings and structural appurtenances at without compulsion. carried out within a reasonable period, failing which We the Situation. Buildings includes: g) Stock; will not pay more than the amount which would have h) goods sold but not delivered and goods held by You on been payable under the Policy if the work of a) verandahs, carports, car parks, sealed driveways and paths, COVER consignment or commission; reinstatement had been commenced and carried out shelters, awnings, gangways, staircases and all The scope of cover provided is explained in the clauses with reasonable dispatch; outbuildings; i) property not owned by You but on Your Business Premises for service, repair, alteration or safe keeping; ‘Defined events cover’ and ‘Accidental damage cover’. b) the work of reinstatement may be carried out wholly or b) fixtures and fittings owned by the owner of the building; We will cover You for loss or damage caused by the events partially upon any other site, if the requirements of the c) underground and above ground services including j) property of Your welfare, sports and social clubs. listed under ‘Defined events cover’ and ‘Accidental damage Act, Regulation or by-law necessitate it, subject to Our aprons, supply mains and meters; Contents does not include: cover’ to Your Business Property which occurs during the liability not being increased; d) walls, gates, fences, flagpoles, floodlights and signs; k) Buildings; Period of Insurance. c) Our total liability under this clause ‘Extra cost of e) permanently fixed water and fuel tanks. l) growing crops, trees or plants other than pot-plants; The current Policy Schedule shows what You have covered reinstatement’ will be limited to; and the method of settlement. i) the Sum Insured shown in the current Policy Schedule Buildings does not include: m) animals, livestock, fish, birds and any other living organism except laboratory cultures, Stocks of foodstuffs, of nursery for ‘Extra cost of reinstatement’ which shall be in i) Plant and machinery; addition to the Sum Insured; or plants, or Stocks of a pet shop; BASIS OF SETTLEMENT ii) Stock; ii) if no such Sum Insured is stated, and the damage is n) motor Vehicles or trailers, caravans or motorcycles all There are two methods of paying Your claims. They are iii) Contents; while registered or licensed to travel on a public road, less than fifty percent (50%) of the Replacement Cost ‘Reinstatement or replacement value’ and ‘Indemnity value’. provided that this exclusion will not apply to: of the Buildings or Contents, Our liability shall be iv) Property undergoing erection, construction, alteration The claim payment method You are covered for is shown on limited to the extra cost necessarily incurred in or addition (including the partial dismantlement of i) mobile plant and equipment (excluding cars, sedans, the current Policy Schedule. reinstating the damaged Business Property only; existing structures), where the total contract value of panel vans, and trucks) not otherwise insured; all work to be carried out at any one Business 1. Reinstatement or replacement value d) the amount recoverable shall not include the additional Premises exceeds $500,000 or 20% of the total Sum ii) motor Vehicles or trailers, caravans or motorcycles costs incurred with complying with any such Act, Insured on Buildings and Contents, whichever is the that are Stock in trade of the business; We will pay the cost of rebuilding, replacing or repairing any Regulation or by-law or requirement with which You lesser provided that this limit shall apply only to the o) Money; damaged part of Your Business Property to the same condition have been required to comply prior to the happening portion of the Business Premises or Business Property as when they were new or, where appropriate, in accordance of the damage; p) jewellery, furs, bullion, articles containing gold and silver with the ‘Output replacement’ clause set out below. which is the subject of any such work and not to any which are not Stock and which exceed $10,000 any one e) the underinsurance condition of the Fire and Perils Cover other portion of the Business Property; item; Business Property may be rebuilt or erected at another Section of the Policy will not be applied to the amount v) Land, unsealed driveways and paths, dams, bridges, location and in a manner suitable to You provided You pay payable under this clause. q) Contents undergoing erection, construction, alteration or any additional costs to build or erect elsewhere. canals, tunnels, railway tracks and roadways (not at addition (including the partial dismantlement of existing the Situation), wharves, docks and piers. If the Business Property is lost or damaged You must 2. Indemnity value structures), where the total contract value of all work to be This definition of ‘Buildings’ is subject to the ‘Designation of carried out at any one Business Premises exceeds $500,000 commence to rebuild, replace or repair within a reasonable If the basis of settlement is shown in the Policy Schedule as property’ General Policy condition. or 20% of the total Sum Insured on Buildings and Contents, time of the loss or damage, after Our consent has been Indemnity, We will pay the cost to repair or replace the whichever is the lesser, provided that this limit shall apply obtained. If You do not, We will pay no more than the cost insured property less an equitable amount for age, wear, tear, “Contents” means all property at the Business Premises, that would have been incurred if the work of rebuilding, depreciation and will make an adjustment for the general belonging to You or for which You are responsible. only to the portion of the Business Premises or Business Property which is the subject of any such work and not to replacement or reinstatement has been commenced and condition and remaining useful life of the individual item or Contents includes: any other portion of the Business Property; carried out with reasonable dispatch. components that are damaged. a) fixtures, fittings and glass owned by Your landlord r) land, dams, bridges, canals, roadways, tunnels, railway Extra cost of reinstatement We will also pay, in accordance with the ‘Extra Cost of which You are legally responsible for and tracks (not at the Situation), wharves, docks and piers; Reinstatement’ clause, the additional costs required to leasehold improvements; (Applicable to Buildings, machinery and plant). comply with the requirements of any statutory authority or s) Watercraft, Aircraft or any accessories, equipment or spare Where ‘Reinstatement or replacement’ basis of settlement is by-laws, provided You were not required to comply with any b) machinery; parts whilst contained in or on these items unless they are shown in the Policy Schedule, this section extends to include of the by-laws prior to the loss or damage occurring. c) plant permanently fixed to Your Buildings; Stock and are on Your Business Premises at the time of the extra cost of reinstatement (including demolition or any loss or damage. d) documents of title and any other documents of
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