YAMAHA MARINE INSURANCE - Policy Wording - Make your dream a reality.
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YAMAHA MARINE INSURANCE Policy Wording Make your dream a reality.
CONTENTS
IMPORTANT INFORMATION 1
INTRODUCTION 2
A SUMMARY OF YOUR YAMAHA MARINE COVER 3
COMPREHENSIVE COVER 4
SOME THINGS YOU SHOULD DO WHEN PURCHASING INSURANCE 6
THINGS YOU MUST DO AFTER PURCHASING INSURANCE 7
BOAT & PERSONAL WATERCRAFT COVER 10
ADDITIONAL BENEFITS FOR COMPREHENSIVE COVER 11
OPTIONAL BENEFITS FOR COMPREHENSIVE COVER 16
MOTOR ONLY COVER 17
LEGAL LIABILITY COVER 17
EXCLUSIONS TO YOUR LEGAL LIABILITY COVER 19
DEFINITIONS 22
OUR OBLIGATIONS TO YOU 25
GENERAL INFORMATION 26
OTHER IMPORTANT INFORMATION 27
WHAT HAPPENS IF YOU NEED TO MAKE A CLAIM? 31
2
IMPORTANT INFORMATION
ABOUT THE INSURER ABOUT YAMAHA AND THEIR SERVICE
This Policy is underwritten by HDI Global Specialty SE Yamaha Motor Insurance New Zealand Limited (“YMI”) has
- New Zealand (referred to as “Us”, “We” or “Our”). HDI been given a binding authority by the Insurer which allows
Global Specialty SE – New Zealand is licenced to carry on YMI to enter into this Policy, to administer it and to handle
an insurance business in New Zealand in accordance with and settle claims made under it within the terms of the
the Insurance (Prudential Supervision) Act 2010. We are binding authority. In doing so, YMI acts for the Insurer and
registered as a financial service provider on the Financial not You.
Service Providers Register (FSP 774050).
YMI is registered as a financial service provider on the
We are registered in Germany. Our registered office is at Financial Service Providers Register (FSP 556706). If We
Podbielskistraße 396, 30659 Hannover, Germany with agree to insure You, You will have a contract of insurance
registration number HRB211924. We are authorised with the Insurer and not with YMI.
by Bundesanstalt für Finanzdienstleistungsaufsicht
YMI’s contact details are:
(“BaFin”)to carry on insurance business in Germany
under the German Insurance Supervisory Act • Yamaha Motor Insurance New Zealand Ltd
(“Versicherungsaufsichtsgesetz”). Private Bag 94412,
Botany, Auckland, New Zealand 2163
INSURANCE RATING INFORMATION
• Telephone: 0800 664 678
Standard & Poor’s has given Us the financial strength • Email: customerservice@yminz.co.nz
rating of ’A+’ (Strong) – as of 28 October 2020.
YMI has authorised Your Yamaha dealer to distribute this
More information about S&P’s rating of HDI Global
product. Your Yamaha Dealer is not authorised to provide
Specialty SE is available at https://www.spglobal.com/
any advice on this insurance. If You have any questions
ratings/en/index#find_a_rating.
about this insurance, please contact YMI. We and YMI cannot
The Standard & Poor’s rating scale is: provide You with any financial advice relating to this Policy.
AAA Extremely Strong YOUR DUTY
AA Very Strong You should carefully read this Policy and any other
documentation that We send You such as Your Certificate of
A. Strong Insurance. If You do not fully understand this Policy please
contact YMI, who will be able to explain it to You. Any claims
BBB Good
and general enquiries should be directed to YMI:
BB Marginal
• Email: customerservice@yminz.co.nz
B. Weak • Telephone: 0800 664 678
CCC Very Weak This Policy has been designed by YMI in conjunction with
CC Extremely Weak Yamaha to give boat owners like You, simple and easy to
understand cover to protect You in the event of a crisis such
R Regulatory Action as a collision, accident, fire or theft. Plus, this Policy gives
You added benefits, which may not be covered by other
The rating from ’AA’ to ‘CCC’ may be modified by the insurers, which will help You get back on the water sooner.
addition of a plus or minus sign to show relative standing Terms, conditions, limits and exclusions apply. You need to
within the major rating categories. read all of the information provided by Us on this insurance
to properly understand the cover provided.
1
INTRODUCTION
SERVICE COOLING OFF PERIOD
We are here to answer any questions You have about Your If You decide that Your insurance cover doesn’t meet Your
insurance. If You have any questions about this insurance needs, for whatever reason, and You have not made a claim,
or would like to update or change Your insurance, please: You can cancel Your policy within twenty-one (21) days of
contact the YMI customer service team: the start of Your insurance and receive a full refund. You will
receive a full refund of any premiums paid (less any taxes
• Telephone: 0800 664 678
or duties We cannot recover). It’s called Your Cooling Off
• Email: customerservice@yminz.co.nz
Period and it’s as simple as that.
• In writing: Private Bag 94412
Botany, Auckland
New Zealand 2163
QUALITY GUARANTEED
If We choose and instruct a repairer to repair Your Vessel,
We guarantee the quality of those repairs for as long as You
UNDERSTANDING YOUR INSURANCE
are the owner of the Vessel, subject to and in accordance
There are also exclusions and limitations which apply to with relevant laws.
certain cover as well as general exclusions which apply to
all covers under the Policy.
Certain words have defined meanings You need to
understand.
You should read the Policy in full to ensure You understand
the Insured Events and benefits as well as the limits,
Excesses and exclusions to this cover.
2
A SUMMARY OF YOUR YAMAHA MARINE COVER
You will only be entitled to the cover provided by this DEPENDING ON YOUR INSURANCE NEEDS
Yamaha Marine Insurance once You have paid the YOU MAY ELECT TO TAKE OUT ONE OF THE
applicable premium which is noted on Your Certificate of FOLLOWING COVERS:
Insurance.
• Comprehensive Cover – This includes cover for
There are limits to the cover provided and while some of Accidental Loss or Damage to Your Boat or Personal
these are fixed, others may be extended by simply notifying Watercraft, Your Legal Liability arising from the use
Us of the items You own and their value. of Your Boat or Personal Watercraft and personal
accident cover;
There are also exclusions and limitations which apply to
• Motor Only Cover – this covers Damage to Your
certain events, as well as general exclusions which apply
Yamaha outboard Motor only. It does not include any
to all cover under this insurance.
Legal Liability cover.
Certain words have defined meanings You need to
understand, which are found in the Definitions section of
YOUR BOAT OR PERSONAL WATERCRAFT IS
the Policy.
COMPRISED OF THE:
Please also note that this is a limited summary only and not
• Hull;
a full description of the covers. Each cover noted is subject
• Motors (including fuel tanks);
to terms, conditions, exclusions and limitations that are not
• Trailer; and
listed in the summary. You should read this Policy Wording
• Equipment and Accessories.
in full to properly understand the cover provided. You are
not automatically insured under each cover.
Your Boat or Personal Watercraft includes any replacement
To assist with Your decision to purchase this cover and Boat or Personal Watercraft. Boat or Personal Watercraft
to manage Your expectations in the event of a claim We modifications are excluded unless We have agreed to
believe it is important to highlight some important terms them. If We have agreed these modifications this will be
and the main areas where cover is or is not available shown on Your Certificate of Insurance under ‘Boat or
or where limited cover is available under this Policy, Personal Watercraft Modifications’. It does not include
regardless of the situation. contents but limited cover is provided for Personal Effects,
under the Additional Benefits section of the Policy.
WORK OUT WHAT COVER SUITS YOU
You need to ensure that the cover selected by You is
suitable for Your needs and that the level of cover provided
is adequate.
3
COMPREHENSIVE COVER
INSURING YOUR BOAT OR PERSONAL MARKET VALUE:
WATERCRAFT
If We cannot agree on a specified Agreed Value Sum
You are responsible for deciding the amount Your assest Insured with You, We will insure Your Boat or Personal
is insured for. If You are having difficulties working out Watercraft on a Market Value basis. We will then pay up
the values, please seek the advice or a valuation from a to the Market Value (i.e. the cost to replace Your Boat or
professional Boat or Personal Watercraft dealer. Personal Watercraft with a similar item of the same age
and condition) or Purchase Price (what You purchased the
Boat or Personal Watercraft for) of the Boat or Personal
YOUR BOAT OR PERSONAL WATERCRAFT CAN Watercraft assessed at the time of the event giving rise to
BE INSURED ON THE FOLLOWING BASIS: the Loss, whichever is the lesser.
AGREED VALUE: Yamaha powered Boats or Yamaha Wave AGREED VALUE: Non Yamaha Powered Boats or Non
runner Personal Watercraft up to three (3) years of age Yamaha
When You have purchased Your new Yamaha powered Boat Powered Personal Watercraft up to two (2) years
or new “Yamaha waverunner” Personal Watercraft through from date of first registration We agree to insure Your
a professional Yamaha dealership primarily involved in the Non Yamaha Powered Boat or Non -Yamaha Personal
sale of Personal Watercraft or Boats, We agree to insure Watercraft which you have Purchased new from a
Your Yamaha powered Boat or “Yamaha waverunner” professional dealership primarily involved in the sale
Personal Watercraft for the purchase price paid for of personal watercraft or boats and You are the first
three (3) calendar years from the date You purchased registered owner of the Non Powered Boat or Non
Your Yamaha powered Boat or “Yamaha waverunner” Powered Yamaha Personal Watercraft, We agree to
Personal Watercraft. The purchase price and date of insure Your vessel for the purchase price paid for two (2)
purchase must be advised to Us at the time of entering calendar years from the date of purchase by You.
into the Policy. At the end of three (3) calendar years from
the date You purchased Your Yamaha powered Boat or The purchase price will be shown as the Agreed Value on
“Yamaha waverunner” Personal Watercraft the Policy will Your Certificate of Insurance. The purchase price, date of
automatically convert to operate on a Market Value basis. purchase and the date of first registration must be advised
You can contact Us and request that cover be amended to Us at the time of entering into the Policy. At the end of
to an Agreed Value in which case You must provide Us the two (2) calendar years from the date You purchased
with details of Your requested Sum Insured. If We cannot Your Non Powered Yamaha Boat or Non Powered Personal
agree on the Sum Insured value with You, the Policy will be Watercraft the Policy will automatically convert to operate
issued on a Market Value basis. on a Market Value basis.
.
4
MOTOR ONLY COVER: LEGAL LIABILITY COVER
This covers damage to Your Yamaha outboard motor only. It For Legal Liability Cover, We cover You for Your Legal
does not include any Legal Liability cover. Liability for injury to other people or Damage to their
property when using Your Boat or Personal Watercraft or in
ADDITIONAL BENEFITS certain circumstances a substitute Personal Watercraft.
If You have selected Comprehensive Cover You are also Legal Liability cover includes cover for Accidental
automatically entitled to various Additional Benefits such discharge, release or escape of fuel or lubricant clean-up
as cover for: costs, and Legal Liability cover for Waterskiing and/or
Aquaplaning activities when using Your Boat.
• Personal Effects;
• Water Sports Equipment;
• Emergency Assistance for Your Boat or Personal
Watercraft;
• Salvage Charges;
• Lost Keys;
You may also be able to extend Your Comprehensive Boat
or Personal Watercraft Cover to include the following
Optional Benefit (an additional premium may apply):
• Lay-up cover;
5
SOME THINGS YOU SHOULD DO WHEN PURCHASING INSURANCE
APPLYING FOR COVER We tell You what Your discount is when You apply for the
Policy. Your premium is based on current rates and We
When You apply for this insurance, You will need to answer then apply any no claim bonus premium discounts You
questions that We ask You. We will use and rely on the may be entitled to. You will be entitled to Our maximum no
information supplied by You to decide the terms of cover claim bonus premium discount if You have not experienced
We will provide to You. any Insurance related claims in the past five (5) years.
Your Certificate of Insurance will contain important Our no claim bonus discount works as follows:
information relevant to Your insurance including the
Period of Insurance, Your premium, details of Your Vessel, No Claim Bonus Discount Levels Discount
the Excess(es) that will apply to You, and whether any
standard terms have been varied by way of endorsement. 0 claims in the past five (5) years 30%
Where We agree to enter into a Policy with You, Your Policy 1 claim or less in the past two (2) years 20%
with Us is made up of:
2 claims or less in the past three (3) years 10%
• this Policy Wording;
• Your Certificate of Insurance; and All other cases 0%
• any other document We tell You forms part of the
terms and conditions of Your cover, including any The level of discount will be adjusted upon renewal of Your
endorsements or supplementary PDS issued by Us. Policy depending on whether any claims are lodged during
the previous Period of Insurance and this may either:
You need to keep these documents in a safe place together • increase Your discount if You have not made a claim
with receipts and other evidence of ownership and value of (up to the next level or Our maximum no claim bonus
items You insure with Us. discount, whichever applies); or
• decrease Your discount (if You have made a claim); or
Before expiry We will send You a renewal notice which tells
You whether We will renew Your insurance and on what • remain the same.
terms. The renewal notice will tell You what is required.
If You hold the Policy with Us for three (3) consecutive
years and make no claims, We guarantee to apply Our
DETERMINING YOUR PREMIUM
maximum no claim bonus discount for this Period of
When You buy Your insurance, We tell You the premium You Insurance.
must pay and show it on Your Certificate of Insurance.
A minimum premium applies for this insurance irrespective
To determine Your premium, We consider factors such as of any discount that applies. The amount of premium We
the cover You want, the Vessel You want to insure, Optional charge after taking into account Your no claim bonus (if
cover You request, the limits and Excess(es) that will apply any) will not be less than this amount.
and Your insurance history and whether You are paying by
If Your premium is payable in instalments, this may
instalments or not.
increase the amount of premium that You must pay. If the
Your Premium also includes an administration fee and any premium is payable in instalments, You must continue to
relevant compulsory government charges, taxes or levies pay the instalments to maintain cover. If the instalment
(e.g. GST) for Your insurance. We show these on Your remains unpaid for at least fourteen (14) days, We will
Certificate of Insurance. refuse to pay any claim that arises after the unpaid
instalment was due.
We will reward You with a no claim bonus discount on
Your premium when You buy the Policy if You have not You are responsible for ensuring that Your premiums are
experienced a recent Insurance related claim. paid or Your cover could be put at risk. Please call Us if You
are ever unsure about Your premiums.
We may deduct from any claim payment, any unpaid
premium or instalment of premium.
6
Duty of Disclosure THINGS YOU MUST DO AFTER
Before You enter into an insurance contract, You have a PURCHASING INSURANCE
duty to tell Us anything that You know, or could reasonably
be expected to know, may affect Our decision to insure
You and on what terms (including the amount of Your MAINTAIN THE BOAT OR PERSONAL
Premiums). WATERCRAFT
You have this duty until We agree to insure You by issuing a Throughout the duration of Your Policy, You must maintain
Certificate of Insurance to You. Your Boat or Personal Watercraft in good Condition.
You have the same duty before We agree to renew, extend, The Boat or Personal Watercraft may no longer be in a safe
vary or reinstate Your Policy by issuing a new Certificate of operating condition immediately after an Incident. It is
Insurance to You. important that You do not Ride it after an Incident if it is no
longer in a safe Condition or safe to use.
You do not need to tell Us anything that
You must also make reasonable efforts to protect Your Boat
• reduces the risk We insure You for; or or Personal Watercraft from any loss or damage. If You do
• is common knowledge; or suffer loss or damage to Your Boat or Personal Watercraft
• We know or should know as an insurer; or You must also make reasonable efforts to prevent any
• We tell You We do not need to know about it. further loss or damage.
If You Do Not Tell Us Something
CHANGES TO YOUR POLICY
If You do not tell Us anything You are required to, We may
You must immediately tell Us about any changes to the
cancel Your contract or reduce the amount We will pay You
information You gave Us when You took out or last changed
if You make a claim, or both.
Your Policy, including but not limited to changes to Your
If Your failure to tell Us is fraudulent, We may refuse to pay Boat or Personal Watercraft, the address where the Boat
a claim and treat the contract Policy as if it never existed. or Personal Watercraft is kept, the people covered by Your
Policy and anything else that may affect Your Policy or Our
decision to accept the risk.
MEETING YOUR OTHER OBLIGATIONS
You will need to meet other conditions of the Policy, such
as claims conditions, or We may reduce or refuse to pay a
claim and/or cancel the Policy to the extent permitted by
law.
7
WHAT IS AN EXCESS? AGE/EXPERIENCE EXCESS
An Excess is an amount or amounts You must contribute An additional Excess of $500 will apply in addition to the
or pay for each claim accepted by Us under the Policy. basic Excess noted on Your Certificate of Insurance for any
The Excess(es) applicable to Your cover will be shown claim for Loss or Damage caused to, or by, Your Personal
on Your Certificate of Insurance. There is a Basic Excess Watercraft whilst it is being operated by any person:
which applies to all claims under the Policy. There may be
• who is 25 years of age or younger, or;
an additional age Excess and nominated rider Excess(es),
• who has held an approved licence or licence
that if applicable, must be paid in addition to the Basic
endorsement issued by the respective Regions for the
Excess.
use of Personal Watercraft for less than two (2) years.
BASIC EXCESS
This additional Excess does not apply to theft or water
The basic Excess is the standard Excess applicable to
inflow claims.
all Riders claims and is specified in the Certificate of
Insurance.
NIL EXCESS
If You are not satisfied with any change to this PDS You can
No Excess is payable for claims relating to:
cancel the Policy by calling Us. If You cancel this Policy, the
Cancellation process outlined in this PDS will apply. • Loss or Damage to Your Boat or Personal Watercraft
which is caused by a third party providing You can
SPECIFIC EXCESS DETAILS identify the third party at fault and provide their name,
address, phone number and insurance company
There is however some Excesses which may apply
details. This waiver of the Excess does not apply to any
irrespective of whether they are reflected on the
claims whilst racing Your Personal Watercraft or Boat;
Certificate of Insurance as listed below:
• lost keys; or
• A $2,000 Excess will be applied to any claim for theft • emergency assistance
when You store Your Personal Watercraft within a
complex that has shared parking arrangements and
OTHER PARTIES INTERESTS
there are no signs of visible and forcible removal of
Your Personal Watercraft. We only cover Your interest in the Boat or Personal
• A $1,000 Excess will be applied to any claim for theft Watercraft, unless We specifically include cover for the
where there is no physical evidence of violent and interests of another party.
forcible removal of Your Personal Watercraft.
You must tell Us of the interests of all parties (e.g. credit
• the Excess noted on the Certificate of Insurance will
providers or other owners) who want their interests to be
be applied to any claim for Loss or Damage to Your
covered by the Policy. We will cover their interests only if
Personal Watercraft’s Motor caused by water inflow
You have told Us about them and We have noted them on
where the Hull has had an Impact With a Solid Object
Your Certificate of Insurance.
that has caused a break in the Hull.
• A $5,000 Excess will be applied to any claim for Loss or
Damage to Your Personal Watercraft’s Motor caused GST AND CLAIMS
by water inflow where there has been no Impact With
Any claim payments made under this insurance will be
a Solid Object and no break in the Hull.
based on GST inclusive costs, up to the relevant Sum
• A $5,000 Excess applies if Your Personal Watercraft
Insured or maximum amount that We pay.
is uneconomical to repair due to water inflow Damage
and Your Personal Watercraft is declared a Total Loss. However, if You are or would be entitled to claim any input
tax credits under the Goods and Services Tax Act 1985
The Personal Watercraft’s seat detaching from the Hull is for the repair or replacement of the insured property or
not considered a “break in the Hull” for applying some of for other things covered, We will reduce any claim under
these Excesses. the Policy by the amount of such input tax credits. You
must advise Us of Your correct input tax credit entitlement
where You are registered for GST. You are liable to Us for
any GST liability. We incur rising from Your incorrect advice
or inaction.
8IF YOU HAVE BORROWED MONEY TO BUY REINSTATEMENT OF SUM INSURED FOR
YOUR BOAT/PERSONAL WATERCRAFT CERTAIN CLAIMS
If a credit provider is shown as having an interest in Your Following Our payment of a claim for Your Boat or Personal
Motorcycle on Your Certificate of Insurance and, We agree Watercraft that is not a Total Loss, or the repair of an
to settle a claim on a cash basis, We have the option of item, the relevant Agreed Value or Market Value for Your
making this payment to the credit provider in full or part Boat or Personal Watercraft or item will be automatically
settlement of Your claim. reinstated to the same amount shown in the Certificate of
Insurance unless We tell You otherwise in writing.
In this situation We will pay the credit provider the amount
We agree to settle the claim, up to the amount outstanding
under Your loan account or finance contract. If the claim IF YOUR BOAT OR PERSONAL WATERCRAFT IS
amount exceeds the amount outstanding under Your loan A TOTAL LOSS
account or finance contract, the balance of the claim
If there has been a Total Loss payout made by Us, Your
amount is paid to You.
Boat or Personal Watercraft will become Our property and
Where any Boat/Personal Watercraft is subject to any We will keep the proceeds of any salvage.
finance agreement or similar contract and such interest There is no premium refund payable if We settle a claim for
is noted on the Certificate of Insurance, payment in Your Boat or Personal Watercraft on a Total Loss basis.
respect of any loss or damage covered under this Policy If We agree to pay Your claim for a Total Loss, We will
will be made to such Interested Party whose receipt will pay You the Agreed Value or Market Value shown on your
discharge Us completely in relation to the loss or damage. Certificate of Insurance, minus any Excess(es) outstanding
premium (if paid monthly) and any taxes that may apply.
This is because all of Our obligations under this Policy will
have been met.
9BOAT & PERSONAL WATERCRAFT COVER
This cover will only apply if You have selected it, paid the The exclusions operative and any applicable limits in
applicable premium and it is shown as covered on Your relation to such specific insured events only are found in
Certificate of Insurance. the right- hand column directly adjacent to such specific
insured events.
Subject to the terms, conditions limitations and exclusion
of Your Policy and any other documentation provided to Please note that any other exclusions, conditions and limits
You, We will cover You for Accidental Damage to Your Boat which are of a more general nature and detailed elsewhere
or Personal Watercraft caused by any of the Insured Events in the Policy and other documentation provided to You may
specified in the left-hand column of the table below. also be applicable to such specific insured event.
INSURED EVENT – YOU ARE COVERED FOR: OUR EXCLUSIONS – YOU ARE NOT COVER LIMIT
COVERED FOR THE FOLLOWING: PER CLAIM
(See also General Exclusions)
ACCIDENTAL LOSS OR DAMAGE • Damage specifically excluded under the Market Value
We will cover You for Accidental Damage to Your other Insured Events listed below in this or Sum Insured
Boat or Personal Watercraft caused by Fire, storm, table. as specified on
Impact With a Solid Object, sinking and any other Your Certificate
peril not specifically excluded by the Policy. of Insurance
THEFT • Theft by someone who is using Your Market Value
We will cover You for the theft of Your Boat Boat or Personal Watercraft with Your or Sum Insured
or Personal Watercraft and / or Water Sports consent. as specified on
Equipment during the Period of Insurance. Your Certificate
of Insurance
MALICIOUS DAMAGE • Malicious Loss or Damage caused by You Market Value
We will cover You for Malicious Damage to Your or a person acting with Your express or or Sum Insured
Boat or Personal Watercraft during the Period of implied consent. as specified on
Insurance. Your Certificate
of Insurance
TRANSIT DAMAGE Damage if: Market Value
We will cover You for Accidental Damage to Your or Sum Insured
• Your Boat or Personal Watercraft is not
Boat or Personal Watercraft which occurs while it as specified on
designed to be normally transported on
is being transported on its own Trailer by road, rail Your Certificate
a Boat or Personal Watercraft Trailer
or ship. of Insurance
• You have not complied with statutory
requirements.
• Your Boat or Personal Watercraft is
insufficiently stowed/protected on the
Trailer
WATER INFLOW
We will cover You for Damage sustained to Your
Boat or Personal Watercraft by the entry of water
into the Motor.
10ADDITIONAL BENEFITS FOR COMPREHENSIVE COVER
Subject to the terms, conditions limitations and exclusion operative and any applicable limits in relation to such
of Your Policy and any other documentation provided benefits only are found in the right-hand column directly
to You, the Policy is extended to include the following adjacent to such specific additional benefit.
Additional Benefits when Your Boat or Personal Watercraft
Please however note that any other exclusions, conditions
is Damaged as a result of one of the Insured Events
and limits which are of a more general nature and detailed
detailed under INSURED EVENT – YOU ARE COVERED FOR.
elsewhere in the Policy and other documentation provided
The cover limits detail the maximum amounts that apply to
to You may also be applicable to such specific additional
each additional benefit in the event of such loss of Damage
benefit.
including any sub limits that may apply. The exclusions
11ADDITIONAL BENEFITS OUR EXCLUSIONS – YOU ARE NOT COVER LIMIT
COVERED FOR THE FOLLOWING: PER CLAIM
(See also General Exclusions)
THIRTY SIX (36) MONTHS REPLACEMENT ON YAMAHA
POWERED BOAT OR PERSONAL WATERCRAFT:
This benefit only applies if:
• Your Yamaha Powered Boat or Personal Watercraft
was purchased new; and
• You have taken out Yamaha Comprehensive Marine
Insurance to insure this new Yamaha Powered Boat or
Personal Watercraft at the same time as purchasing
the new Yamaha Powered Boat or Personal
Watercraft; and
• You have continued to hold Yamaha Marine Insurance
to insure the Yamaha Powered Boat or Personal
Watercraft until the Total Loss
If Your Yamaha Yamaha Powered Boat or Personal
Watercraft is declared by Us to be a Total Loss within
thirty six (36) months of its original registration, We will at
Our option either, replace it with a new Yamaha Powered
Boat or Personal Watercraft of the same make, model
or series or pay to You the replacement value of a new
Yamaha Powered Boat or Personal Watercraft of the same
make, model or series.
We will also pay for all registration costs and statutory
charges and any increase in the purchase price of
the replacement Yamaha Powered Boat or Personal
Watercraft to a maximum of 10% above the original
purchase price.
This benefit does not apply:
• if Your Policy is cancelled
• if Your Yamaha Powered Boat or Personal Watercraft
is no longer covered by the Policy;
• Thirty six (36) months from the Yamaha Powered
Boat or Personal Watercraft original registration;
• where Your YamahaPowered Boat or Personal
Watercraft has been sold.
TYRE AND RIM • Failure of the tyre/s or rim/s $1,500 in total.
We will cover You for Damage to Your Boat or Personal due to wear and tear or gradual
Watercraft’s Trailer tyre/s and or rim/s due to Impact deterioration.
With a Solid Object which causes the tyre to puncture,
burst, blow out or Damage to the rim so the tyre cannot
be inflated. No Excess is applicable to a claim made under
this additional benefit.
12ADDITIONAL BENEFITS OUR EXCLUSIONS – YOU ARE NOT COVER LIMIT
COVERED FOR THE FOLLOWING: PER CLAIM
(See also General Exclusions)
EMERGENCY ASSISTANCE $5,000 in total
We will pay the cost of towing Your Boat or Personal
Watercraft in an emergency during the Period of
Insurance to Your home or the nearest place where repairs
can be made.
No Excess is applicable to a claim made under this
additional benefit.
LOST KEYS $1,500 in total
We will cover You for the loss or theft during the Period of
Insurance of the keys of Boat or Your Personal Watercraft
including the costs associated with recoding the new
keys. No Excess is applicable to a claim made under this
additional benefit.
OUT OF POCKET EXPENSES • Out of Pocket Expenses unless $1,500 in total
We will cover You for the following in connection with We replace Your Yamaha powered
replacing Your Boat or Personal Watercraft as a result of a Boat or Yamaha WaveRunner
Total Loss covered under this Policy: Personal Watercraft within
3 years of its original date of
• Dealer delivery fees;
registration.
• Registration costs.
REPATRIATION COSTS $2,000 in total.
We will pay the reasonable travel costs for You and/ or
Your immediate family members to return to Your home
city after an event occurs which results in a claim payable
under this policy. The cover provided by this benefit will
only be paid if the Damage sustained by Your Boat or
Personal Watercraft necessitates Your immediate return
home. No excess is applicable to a claim made under this
additional benefit.
TOURNAMENT COVERAGE AND FEE REIMBURSEMENT $2,000 in total.
We will cover You for the loss of entry fees paid by You
should a claim payable under this policy cause You to
miss or withdraw from a fishing tournament. The cover
provided by this benefit will only be paid if the Damage
sustained by Your Boat necessitates Your withdrawal. No
excess is applicable to a claim made under this additional
benefit.
13ADDITIONAL BENEFITS OUR EXCLUSIONS – YOU ARE NOT
COVERED FOR THE FOLLOWING:
(See also General Exclusions)
PERSONAL ACCIDENT The cover under this additional benefit
only applies to individual(s) that are
You are covered in the event of
listed as an insured on Your Certificate of
• death; or Insurance.
• an injury causing permanent and total loss of:
If more than one individual is listed as an
i) sight of an eye;
insured on Your Certificate of Insurance
ii) the use of a limb;
the amount payable to the individual
iii) the thumb or any finger;
claiming under this additional benefit will
be limited to the amount payable, divided
during the Period of Insurance caused directly and solely by a violent,
by the number of individuals shown on
visible and external Accident which occurs while You are using Your Boat
Your Certificate of Insurance as insureds.
or Personal Watercraft for private pleasure purposes or voluntary rescue
work. Our payment is subject to the individual
claiming under this additional benefit
We will pay up to:
obtaining medical attention for the
• the Personal Accident Sum Insured of $50,000 or the amount shown Accidental injury from a registered
on Your Certificate of Insurance for claims involving death, permanent medical practitioner and undergoing any
and total loss of use of a limb or the total loss of sight of an eye; medical examination requested by Us.
• up to 20% of the Personal Accident Sum Insured of $50,000 or the
The cover under this additional benefit
amount shown on Your Certificate of Insurance for claims involving
does not apply whilst racing.
permanent and total loss of the thumb or any finger.
We will not pay for any claims where:
We will also pay:
• the injury or death is self-inflicted,
• Your reasonable costs up to $5,000 for certain emergency expenses including suicide or attempted
You incur as a result of the personal Accident providing that the costs suicide whilst sane or insane; or
are not covered by ACC or another government or private scheme or • the death, permanent injury, total
arrangement. You must produce receipts for all costs incurred. loss of the use of a limb, thumb or
• Your funeral expenses to a maximum benefit of $5,000 where Your any finger, or loss of sight of an eye
death arises directly and solely by an Accident which occurred whilst occurs after 12 months of the date of
using Your Boat or Personal Watercraft. the Accident.
The Policy is extended to include the following Additional The exclusions operative and any applicable limits in
Benefits when Your Boat or Personal Watercraft is relation to such benefits only are found in the right-hand
Damaged as a result of one of the Insured Events detailed column directly adjacent to such specific additional
under INSURED EVENT – YOU ARE COVERED FOR. The benefit.
cover limits detail the maximum amounts that apply
Subject to all applicable limitations, terms and exclusions,
to each additional benefit in the event of such Damage
we Agree to provide the following covers;
including any sub limits that may apply.
ADDITIONAL BENEFITS
VOLUNTARY RESCUE WORK
We extend cover under this Policy for Damage caused by the Insured Events detailed under the INSURED EVENT – YOU
ARE COVERED FOR: section where You use Your Boat or Personal Watercraft for voluntary rescue work.
14ADDITIONAL BENEFITS (cont.)
CONSIGNMENT
We extend cover under this Policy for Damage caused by the Insured Events detailed on under the INSURED EVENT –
YOU ARE COVERED FOR: section while Your Boat or Personal Watercraft is on consignment for sale at a professional
marine dealership. Lay-up cover is not available while Your Boat or Personal Watercraft is on consignment.
NEW FOR OLD – YAMAHA OUTBOARD MOTOR/S
If Your Yamaha outboard motor(s) is/are Damaged as a result of an insured event in the “INSURED EVENT – YOU ARE
COVERED FOR:” section and We accept Your claim We will pay for Damage to mechanical and electrical components of
the motor, up to its Agreed Value or Market Value (whichever is applicable), on a new for old basis.
SALVAGE
If Your Boat or Personal Watercraft is Damaged or sinks Accidentally during the Period of Insurance and We agree
to recover it or the law requires that it must be removed, We will pay the reasonable costs of the Salvage Charges
incurred for the removal/recovery of the wreck. This cost will be paid in addition to the Sum Insured for Your Boat or
Personal Watercraft noted on Your Certificate of Insurance.
The policy is extended to include the following Other The exclusions operative and any applicable limits in
Benefits when Your Boat or Personal Watercraft is relation to such benefits only are found in the right-hand
Damaged as result of one the Insured Events detailed column directly adjacent to such specific additional
under INSURED EVENT – YOU ARE COVERED FOR. The benefit.
cover limits detail the maximum amounts that apply to
Subject to all applicable limitations, terms and exclusions,
each additional benefit in the event of such loss of Damage
we Agree to provide the following covers;
including any sub limits that may apply.
OTHER BENEFITS OUR EXCLUSIONS – YOU ARE NOT COVERED FOR COVER LIMIT PER
THE FOLLOWING: CLAIM
(See also General Exclusions)
PERSONAL EFFECTS • Loss or Damage to Personal Effects other $1,500 per item
We will cover Damage to Personal than as defined.
$10,000 in aggregate.
Effects owned by You and Your • Damage to Personal Effects unless they
passengers, which are being used were on You or Your passengers or were In the event of a Total
or stored on Your Boat or Personal used or stored on or in Your Boat or Personal loss, these cover
Watercraft at the time of loss or Damage. Watercraft at the time of loss. limits are included
Proof of ownership will be required to • Theft of Personal Effects unless there is within the Sum
substantiate any clam payable under this physical evidence of violent and forcible Insured and are not in
benefit. Unless otherwise agreed in the entry into Your Place of Storage. addition to it
Policy, a $200 Excess applies to all claims
made under this additional benefit.
WATER SPORTS EQUIPMENT • Theft of Water Sport Equipment unless there $1,500 per item,
We will cove Damage to Water Sports is physical evidence of violent and forcible
$10,000 in aggregate
Equipment owned by You, which is being entry into the place of storage on Your Boat
used or stored on Your Boat or Personal or Personal Water craft. In the event of a Total
Watercraft at the time of loss or Damage. • Damage to Water Sport Equipment unless the loss, these cover
Proof of ownership will be required to items were on or being used with Your Boat or limits are included
substantiate any clam payable under this Personal Watercraft at the time of loss within the Sum
benefit. Unless otherwise agreed in the • Theft of Water Sport Equipment unless there Insured and are not in
Policy, a $200 Excess applies to all claims is physical evidence of violent and forcible addition to it
made under this additional benefit. entry into Your Place of Storage.
15OPTIONAL BENEFITS FOR COMPREHENSIVE COVER
Subject to the terms, conditions limitations and exclusion operative and any applicable limits in relation to such
of Your Policy and any other documentation provided to benefits only are found in the right hand column directly
You, the following Optional Benefits can be added to Your adjacent to such specific additional benefit.
Boat or Personal Watercraft Cover. An additional premium
Please however note that any other exclusions, conditions
may apply. If selected any benefits We agree to provide
and limits which are of a more general nature and detailed
cover for will be shown on Your Certificate of Insurance.
elsewhere in the Policy and other documentation provided
The cover limits detail the maximum amounts that apply
to You may also be applicable to such specific additional
to each additional benefit in the event of such Damage
benefit.
including any sub limits that may apply. The exclusions
OPTIONAL BENEFITS – YOU CAN ADD TO YOUR COVER: OUR EXCLUSIONS – YOU ARE NOT COVER LIMIT
(only applicable if We have agreed to provide the cover and if specified as COVERED FOR THE FOLLOWING: PER CLAIM
covered in the Certificate of Insurance) (See also General Exclusions)
LAY UP COVER • Damage while in transit unless Market Value
If You take this option, the cover for Your Boat or Personal Your Boat or Personal Watercraft or Sum Insured
Watercraft is restricted to Accidental Damage caused by is being taken to or from a marine as specified on
the Insured Events detailed on under the INSURED EVENT dealership for servicing and Your Certificate
– YOU ARE COVERED FOR: section, occurring while Your maintenance. of Insurance
Boat or Personal Watercraft is within the gates, walls or • Damage while Your Boat or
fence of Your home address (or at any location You have Personal Watercraft is on
advised Us of and We have agreed to cover in writing) as consignment.
shown on Your Certificate of Insurance. This restriction in
cover gives You a monthly discounted premium and only
applies during the period shown on Your Certificate of
Insurance.
Lay-up cover is not available while Your Boat is on
consignment.
PERSONAL WATERCRAFT RACING Market Value
If You have paid the additional premium required and Your or Sum Insured
Certificate of Insurance has racing cover endorsed onto as specified on
Your Policy, We will cover You for Damage sustained to Your Certificate
Your Personal Watercraft whilst You are competing in any of Insurance
sanctioned New Zealand Jet Sports Boating Association
race or event.
16MOTOR ONLY COVER • You have permission from the owner to use the
substitute Boat or Personal Watercraft;
• Your Boat or Personal Watercraft is not being used
This cover will only apply if You have Motor Only cover,
at the time;
paid the applicable premium and it is shown as covered on
• You or any member of Your household do not
Your Certificate of Insurance.
own or have any interest in the substitute Boat or
Yamaha Marine Insurance Motor Only cover will cover Your Personal Watercraft.
Yamaha Outboard Motor if it is Damaged as a result of one
MARINA INDEMNITY
of the Insured Events detailed under INSURED EVENT
– YOU ARE COVERED FOR. The cover limits detail the We extend cover under (i) above to include liability
maximum amounts that apply to each additional benefit in imposed upon You by the terms and conditions of any lease
the event of such Damage including any sub limits that may or agreement for the provision of a Berth, mooring or
apply. The exclusions operative and any applicable limits storage facility which You may own or use and where Your
in relation to such benefits only are found in the right- Boat or Personal Watercraft is kept.
hand column directly adjacent to such specific additional
benefit. THE AMOUNT WE WILL PAY
It does not provide cover for Your Boat or Personal We will pay the cost of compensation and legal fees and
Watercraft, or liability arising out of the use of Your Boat or expenses that You or any other person covered by the
Personal Watercraft. Policy is legally liable for provided that We consent to the
costs of any legal fees and expenses You or they incur in
LEGAL LIABILITY COVER writing before they are incurred.
The maximum amount We will pay under this cover is the
The cover provided in this section will apply if You have Limit of Liability amount shown on Your Certificate of
selected Boat or Personal Watercraft Cover or You Insurance in total for all claims that arise from any one
otherwise choose just to take out Legal Liability Cover, Accident, during the Period of Insurance.
paid the applicable premium and it is shown as covered on
This maximum includes all legal fees and expenses.
Your Certificate of Insurance (subject to the other terms
and conditions, exclusions and limitations of the Policy). Accidental discharge, release or escape of fuel or
lubricants and clean up after an Accident
We will cover Your Legal Liability to pay compensation as
a result of an Accident which is caused by Your negligence We will cover You for:
when:
• property Damage caused by or arising from a sudden
(i) using Your Own Boat or Personal Watercraft which unexpected and unintended discharge directly or
causes: indirectly arising from the release or escape of fuel
• Accidental death or bodily injury during the Period of or lubricants from Your Boat or Personal Watercraft
Insurance to a person other than You; occurring at a clearly identifiable time and place
• Accidental Damage to other people’s property; during the Period of Insurance, provided that the fuel
• Accidental death or bodily injury during the Period of or lubricants are being used in connection with the
Insurance to You when another person allowed by You operation of Your Boat or Personal Watercraft at the
is in control of Your Boat or Personal Watercraft. time of Loss;
• the cost of cleaning an Accident site following the
Cover under (i) will also cover the negligence of someone abovementioned discharge, release, or escape of fuel
using Your Boat or Personal Water Craft with Your permission or lubricants provided that You are legally liable for
in the same circumstances. the clean- up, and
• any fines or penalties imposed on You for a breach
(ii) when using a substitute Boat or Personal Watercraft of any environmental protection legislation (“the
which causes: breach”) provided that the breach was not caused by
• Accidental death or bodily injury during the Period of gross negligence or misconduct by You or any person
Insurance to a person other than You; in possession of Your Boat or Personal Watercraft
• Accidental Damage to other people’s property;
provided that:
17with Your permission. Cover for fines and penalties is Liability arising out of the towing of:
limited to a maximum of $50,000 during the Period of
• any person by Your Personal Watercraft that breaches
Insurance.
any statutory requirements;
• any device not designed and professionally
We will pay no more than $500,000 (inclusive of legal costs
manufactured for the purpose of being towed behind
and any fines or penalties) for any one Accident.
Your Personal Watercraft.
WATER-SKIING AND AQUAPLANING
ACTIVITIES OPTIONAL BENEFIT – PERSONAL OPTIONAL BENEFIT WATER-SKIING AND
WATERCRAFT ONLY AQUAPLANING ACTIVITIES - BOAT ONLY
This additional benefit applies to Personal Watercraft only. The following Optional Benefit can be added to Your Legal
An optional benefit is available for an additional premium Liability cover for Your Boat for an additional premium. If
if You want to add this cover for Your Boat. Refer below for selected any benefits We agree to provide cover for will be
further details. shown on Your Certificate of Insurance
We will cover You or any person allowed by You to control We will cover You or any person allowed by You to control
Your Personal Watercraft with Your permission and the Your Boat with Your permission and the observer (within
observer (within the requirements of any law) against the requirements of any law) against legal liability for:
legal liability for:
• Accidental death or bodily injury during the Period of
• Accidental death or bodily injury during the Period of Insurance to a water skier or aquaplaner (including
Insurance to a water skier or aquaplaner (including You) towed by Your Boat;
You) towed by Your Personal Watercraft; • Accidental death or bodily injury during the Period of
• Accidental death or bodily injury during the Period of Insurance to any person caused by a water skier or
Insurance to any person caused by a water skier or aquaplaner being towed by Your Boat;
aquaplaner being towed by Your Personal Watercraft; • Accidental Damage during the Period of Insurance to
• Accidental Damage during the Period of Insurance to another person’s property caused by a water skier or
another person’s property caused by a water skier or aquaplaner being towed by Your Boat.
aquaplaner being towed by Your Personal Watercraft.
This benefit will also cover the water skier or aquaplaner
This benefit will also cover the water skier or aquaplaner being towed by Your Boat for their legal liability to others
being towed by Your Personal Watercraft for their Legal for Accidental death or bodily injury or Damage to another
Liability to others for Accidental death or bodily injury or person’s property.
Damage to another person’s property during the Period of
In addition to the Legal Liability exclusions specified under
Insurance.
“exclusions to Your Legal Liability cover”, the following
In addition to the Legal Liability exclusions specified under exclusions will apply to this benefit.
“exclusions to Your Legal Liability cover”, the following
Liability arising out of Waterskiing or Aquaplaning when:
exclusions will apply to this benefit.
• there is not a legally competent observer in addition
Liability arising out of Waterskiing or Aquaplaning when:
to the driver on board Your Boat at the time of the
• there is not a legally competent observer in addition Accident;
to the driver on board Your Personal Watercraft at the • an aerial device or ski ramp is being used;
time of the Accident; • a ski pole is being used unless it has been
• an aerial device or ski ramp is being used; professionally designed, manufactured and installed.
• a ski pole is being used unless it has been
professionally designed, manufactured and installed. Liability arising out of the towing of:
• any person by Your Boat that breaches any statutory
requirements;
• any device not designed and professionally
manufactured for the purpose of being towed behind
Your Boat.
18EXCLUSIONS TO YOUR LEGAL LIABILITY COVER
We will not pay for Legal Liability that arises: GENERAL EXCLUSIONS OPERATIVE IN
RESPECT OF BOAT & PERSONAL WATERCRAFT
• from bodily injury, illness or death:
COVER AS WELL AS LEGAL LIABILITY COVER
• to You or any person covered by the Policy unless
specifically covered elsewhere in this Policy; You are not covered for any liability or Damage or costs
• to any person allowed by You to control Your Boat or incurred caused by, arising or resulting from:
Personal Watercraft;
• to a person who is covered or should have been • the failure to maintain Your Boat or Personal
covered by any compulsory compensation insurance, Watercraft in good order and repair, or in a proper
including any compulsory third party insurance; either state of seaworthiness and in compliance with any
caused by, directly or indirectly from, or in any way statutory requirements;
connected to the activity of scuba diving. • wear and tear, mold, gradual deterioration,
• from Damage to: delamination, vermin, corrosion, electrolysis, osmosis
• any property owned by You or in Your physical or legal or marine growth;
control; • inherent defects, structural faults, faulty
• any property owned by, or in the physical or legal workmanship or faulty design;
control of a person allowed by You to control Your Boat • the use of Your Boat or Personal Watercraft covered
or Personal Watercraft; by the Policy for hire, charter or reward of any kind
• third party property arising while Your Boat or unless You have advised Us and We have agreed to
Personal Watercraft is being towed by a vehicle or extend cover in writing;
from Your Boat or Personal Watercraft breaking away • any illegal action by You, or someone acting with Your
from or Accidentally becoming detached from the express or implied consent;
towing vehicle. • Your Boat or Personal Watercraft covered by the
• from Waterskiing or Aquaplaning activities with Your Policy having been fitted with a Motor more powerful
Boat unless the optional benefit for “Waterskiing and than that recommended by the manufacturer of the
Aquaplaning Activities – Boat Only” has been selected Hull, unless agreed in writing;
by You and has been noted on Your Certificate of • the lawful seizure, confiscation, nationalisation
Insurance; or requisition of Your Boat or Personal Watercraft
• while Your Boat or Personal Watercraft is in the charge covered by the Policy;
of or physical control of Boat or Personal Watercraft • irrespective of whether You have given permission to
repairers, yacht clubs or marina operators unless a person, Your Boat or Personal Watercraft covered by
for emergency purposes to minimise any Damage the Policy being under the control of:
covered under the Policy; • an unlicensed person when a license is necessary;
• out of the towing of any persons or objects in the air; • a person under the influence of alcohol or drugs;
• from the transmission of any disease; • a person who has been refused Personal
• from asbestos or any product containing asbestos Watercraft or Boat Insurance within the last five
• from any event or liability for which You are required years unless You have advised Us of the refusal
by law to hold an insurance policy or otherwise and We have agreed in writing to cover that
covered under any compulsory insurance; person under the Policy
• for any penalties, fines, punitive or exemplary or Provided that You can show that
aggravated damages for which You are liable; a) You did not know or had no reason to suspect that
• for actions brought against You in a court outside New the person in control of Your Boat or Personal
Zealand or a court that applies law that is not New Watercraft fell into any of the aforementioned
Zealand law. categories or
• Your own gross negligence or misconduct; b) it was reasonable for that person to assume
• the gross negligence or misconduct of any person in control of Your Boat or Personal Watercraft as
possession of Your Boat or Personal Watercraft with a result of an unforeseen emergency, then this
Your permission; exclusion shall not apply.
19• Your Boat or Personal Watercraft covered by the • electronic or mechanical derangement of electronic
Policy being used for Boat or Personal Watercraft equipment, data, virus, malfunction or processing
racing or speed tests, unless You have advised Us and error;
We have agreed to extend cover in writing; • mechanical, structural, electrical or electronic
• a lack of reasonable care, protection and/or security breakdown or malfunction unless directly caused by
of Your Boat or Personal Watercraft covered by the one of the insured events listed earlier in this Policy;
Policy or other insured property; • the modification of Your Boat or Personal Watercraft
• Your Boat or Personal Watercraft covered by the from the manufacturer’s specifications unless You
Policy exceeding the speed limit shown on Your have advised Us and We have agreed to extend cover
Certificate of Insurance; in writing;
• the use of Your Boat or Personal Watercraft covered by • mechanical parts that are not in accordance with the
the Policy or other insured property for any unlawful manufacturer’s original specifications; unless You
or illegal purpose; have advised Us and We have agreed to extend in
• war, invasion, acts of foreign enemies, hostilities writing;
(whether war is declared or not), civil war, rebellion, • the seizure and/or overheating of Your Motor unless
revolution, insurrection or military or usurped caused by an event that is covered under the Policy;
power or by contamination or pollution by chemical, • radioactivity or the use, existence or escape of any
biological or nuclear agents which results from an act nuclear fuel, nuclear material or nuclear waste.
of terrorism; • the transporting of Your Boat or Personal Watercraft
• pollution or contamination except as otherwise on its own Trailer, by road, rail or ship except to the
specifically covered in the Policy; extent the cover under the Transit Damage Insured
• an incident involving Your Boat or Personal Watercraft Event applies.
while it is outside the Geographic Limits shown on
Your Certificate of Insurance unless specified in this You are also not covered for:
insurance or unless You have advised Us and We have
• loss of income or loss of profit;
agreed to extend cover in writing;
• Your liability under any contract, or if You have
• a bushfire or named cyclone within the first 48 hours
agreed to or accepted liability without Our
of the start of the Policy unless You bought Your Boat
agreement first;
or Personal Watercraft on the original start date of the
• acts or omissions by You or someone with Your
Policy (not including a renewal) or You transferred
consent, if the acts are unlawful or are intended
a Boat or Personal Watercraft Insurance Policy, with
to be done with reckless disregard for the
equivalent cover, from another insurance company
consequences.
without interruption in cover;
20
20OTHER EXCLUSIONS TERRORISM EXCLUSION ENDORSEMENT
SEVERAL LIABILITY NOTICE Terrorism Exclusion: Notwithstanding any provision to
the contrary with in this insurance or any endorsement
The subscribing Insurers’ obligations under this policy are thereto it is agreed that this insurance excludes loss,
several and not joint and are limited solely to the extent of damage, cost or expense of whatsoever nature directly
their individual subscriptions. The subscribing Insurers are or indirectly caused by, resulting from or in connection
not responsible for the subscription of any co- subscribing with any act of terrorism regardless of any other cause or
Insurer who for any reason does not satisfy all or part of its event contributing concurrently or in any other sequence
obligations. to the loss. For the purpose of this endorsement An act
of terrorism means an act, including but not limited to
BIOLOGICAL OR CHEMICAL MATERIALS
the use of force or violence and/ or the threat thereof, of
It is agreed that this Insurance excludes loss, damage, any person or group(s) of persons, whether acting alone
liability, cost or expense of whatsoever nature directly or or on behalf of or in connection with any organisation(s)
indirectly caused by, resulting from or in connection with or government(s), committed for political, religious,
the actual or threatened malicious use of pathogenic or ideological or similar purposes including the intention
poisonous biological or chemical materials regardless of to influence any government and/or to put the public, or
any other cause or event contributing concurrently or in any section of the public, in fear. This endorsement also
any other sequence thereto. excludes loss, damage, cost or expense of whatsoever
nature directly or indirectly caused by, resulting from
FRAUDULENT CLAIM CLAUSE
or in connection with any action taken in controlling,
If the (re)insured shall make any claim knowing the same preventing, suppressing or in any way relating to any act of
to be false or fraudulent, as regards amount or otherwise, terrorism. If the Underwriters allege that by reason of this
this contract shall become void and all claim hereunder exclusion, any loss, damage, cost or expense is not covered
shall be forfeited. by this insurance the burden of proving the contrary
shall be upon the assured. In the event any portion of this
endorsement is found to be invalid or unenforceable, the
remainder shall remain in full force and effect.
ASBESTOS EXCLUSION
Your Policy shall not apply to and does not cover any actual
or alleged liability whatsoever for any claim or claims in
respect of loss or losses directly or indirectly arising out of,
resulting from or in consequence of, or in any way involving
asbestos, or any materials containing asbestos in whatever
form or quantity.
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