this certificate of insurance - willis group certificate is insurance council of australia’s...

Savannah Insurance Agency Pty Ltd is the Agent and not the Insurer under any Policy Contract and is acting as an Agent to the Principal. The Principal, who is the insurer under any Policy Contracts issued, is Certain Underwriters at Lloyd’s as shown in the Certificate.

www.savannahgroup.com.au

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CERTIFICATE OF INSURANCE

Effected through: Savannah Insurance Agency Pty Ltd

(hereinafter called the Coverholder)

THIS CERTIFICATE OF INSURANCE confirms that in accordance with the authorisation granted under Contract Numbers: Property- Material Damage (Section 1) & Business Interruption (Section 2) Property Binder Reference No. B0750RNMGC1206141 in respect to 100% of the risk hereby insured in this part. General Third Party Liability (Section 3) – Not Insured Errors and Ommissions (Section 4) – Not Insured to the undersigned by certain Underwriters at Lloyd’s, whose definitive numbers and the proportions underwritten by them, which will be supplied on application, can be ascertained by reference to the said Contract, and in consideration of payment of the Premium as shown in the Schedule.

‘PLEASE NOTE – This notice contains important information. PLEASE READ CAREFULLY

The liability of an insurer under this contract is several and not joint with other insurers party to this contract. An insurer is liable only for the

proportion of liability it has underwritten. An insurer is not jointly liable for the proportion of liability underwritten by any other insurer. Nor is an

insurer otherwise responsible for any liability of any other insurer that may underwrite this contract.

The proportion of liability under this contract underwritten by an insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions

underwritten by all the members of the syndicate taken together) is shown in this contract.

In the case of a Lloyd’s syndicate, each member of the syndicate (rather than the syndicate itself) is an insurer. Each member has

underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members

of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable

only for that member’s proportion. A member is not jointly liable for any other member’s proportion. Nor is any member otherwise responsible

for any liability of any other insurer that may underwrite this contract. The business address of each member is Lloyd’s, One Lime Street,

London EC3M 7HA. The identity of each member of a Lloyd’s syndicate and their respective proportion may be obtained by writing to Market

Services, Lloyd’s, at the above address.

Although reference is made at various points in this clause to “this contract” in the singular, where the circumstances so require this should be

read as a reference to contracts in the plural.’

In accepting this Insurance, the said Underwriters have relied on the information and statements that you have provided on the Proposal Form, or Declaration (which shall include your intermediary’s submission) the date of which is stated in the Schedule. You should read this Certificate carefully and if it is not correct contact the Coverholder. It is an important document and you should keep it in a safe place with all other papers relating to this Insurance.

This Certificate is Insurance Council of Australia’s General Insurance Code of Practice compliant, apart from any claims adjusted outside

Australia. Underwriters at Lloyd’s proudly support the General Insurance Code of Practice. The purpose of the Code is to raise standards of

practice and service in the general insurance industry.

Savannah Insurance Agency Pty Ltd is the Agent and not the Insurer under any Policy Contract and is acting as an Agent to the Principal. The Principal, who is the insurer under any Policy Contracts issued, is Certain Underwriters at Lloyd’s as shown in the Certificate.


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Any enquiry or complaint relating to this Insurance should be referred to the Coverholder shown above in the first instance. If this does not

resolve the matter or you are not satisfied with the way a complaint has been dealt with, you should write to:

Lloyd’s Underwriters’ General Representative in Australia Suite 2, Level 21, Angel Place, 123 Pitt Street, Sydney, NSW 2000

Telephone Number: (02) 9223 1433 Facsimile Number: (02) 9223 1466

Following receipt of your dispute, you will be advised whether your dispute will be handled by either Lloyd’s Australia or the Policyholder & Market Assistance Department at Lloyd’s in London:

Where you are a retail client and your dispute is eligible for referral to the Financial Ombudsman Service (FOS), your dispute will be reviewed by a person at Lloyd’s Australia with appropriate authority to deal with your dispute.

Where you are a retail client and your dispute is not eligible for referral to the Financial Ombudsman Service (FOS), or where you are a wholesale client, Lloyd’s Australia will refer your dispute to the Policyholder & Market Assistance Department at Lloyd’s, who will then liaise directly with you.

The Underwriters accepting this Insurance agree that:

(i) if a dispute arises under this Insurance, this Insurance will be subject to Australian law and practice and the Underwriters will submit to

the jurisdiction of any competent Court in the Commonwealth of Australia;

(ii) any summons notice or process to be served upon the underwriters may be served upon:

Lloyd’s Underwriters’ General Representative in Australia Suite 2, Level 21, Angel Place, 123 Pitt Street, Sydney, NSW 2000

who has authority to accept service and to appear on the Underwriters’ behalf;

(iii) if a suit is instituted against any of the Underwriters, all Underwriters participating in this Insurance will abide by the f inal decision of such

Court or any competent Appellate Court.

(iv) In the event of a claim arising under this Insurance IMMEDIATE NOTICE should be given to:

Devonshire Claims Services (DCS)

Suite 2; 63 Melbourne Street,

South Brisbane,

QLD 4040

Telephone Number:

Facsimile Number:

Or email:

(07) 3360 7400

(02) 8235 4040

[email protected]

This Certificate is issued by the Coverholder shown above in accordance with the authority granted to them by certain Underwr iters at Lloyd’s

under the Contract numbers referred to in the Schedule.

You or your representative can obtain further details of the syndicate numbers and the proportions of this Insurance for which each of the said Underwriters at Lloyd’s is liable by requesting them from the Coverholder shown above. In the event of loss, each Underwriter (and their Executors and Administrators) is only liable for their own share of the loss.

IN WITNESS WHEREOF this Certificate has been signed at: Sydney, NSW This 22ND day of August, 2012 by Coverholder.


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Schedule of Insurance

Policy Number: LITT02-SPOR0812-283

Proposal Date:

Named Insured: Australian Little Athletics Inc

Address of Insured:

Risk Address

90-92 Harris St Harris Park, NSW 2150

90-92 Harris St Harris Park, NSW 2150

And various ALA Centres/Clubs/Associations as declared.

Contact person Philip Scorer

Email [email protected]

Telephone (02) 9285 4000

Description of Business: Administer, Co-Ordinate, Promote and Develop track and field sports for Under 16 year old Children at centres that are affiliated with Australian Little Athletics, Risk Management and Governance of sanctioned events, games, tournaments and training sessions

Interested Parties: Nil Advised

Period of Insurance From: 4:00pm AEST 31st August 2012

To: 4:00pm AEST 31st August 2013

Policy Wording: The Policy contains a number of additional extensions – some of which are automatic and some which require Insurers to confirm acceptance before assuming coverage hereunder. Cover is restricted under some extensions and the Policy sets out those extensions (automatic and optional) and their relevant sub-limits, and coverage restrictions (where applicable) We recommend that you review the Policy to identify the additional extensions and their sub-limits. If any of these optional extensions are insured under Your policy the applicable Sum(s) Insured and any applicable Excess will be shown on the Certificate Schedule.

mailto:[email protected]


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Section 1 2 3 4

Property- Material Damage – Binder

Insured

Property – Business Interruption – Binder

Insured

Liability - General Third Party – Binder

Not Insured

Errors and Omissions Binder

Not Insured

Contract - Reference Number:

B0750RNMGC1206141 in respect to 100% of the risk

hereby insured in this part.

B0750RNMGC1206141 in respect to 100% of the risk hereby insured in this part

Not Insured Not Insured

Territorial Limits Australia Australia Not Insured Not Insured

Sum Insured/ Limit of Liability

See Section 1 Schedule See Section 2 Schedule Not Insured Not Insured

Sub- Classifications and Sum Insured (sum insured shown on schedule if insured)

Loss of Gross


Property (Stock & Contents)

Increase in Cost of Working


Not Insured Not Insured Not Insured Not Insured

Not Insured Not Insured G Not Insured Not Insured


(Tools of Trade) Not Insured Not Insured

Specified items / Portable and Identified property

Please list specified items on Appendix 1 to this Schedule


Excess or Deferment Period

See Section 1 Schedule See Section 2 Schedule Not Insured Not Insured

Minimum Excess $ 250 48 Hours Not Insured Not Insured Flood Excess: Not Insured Not Insured Not Insured Cyclone Excess: $10,000 Not Insured Not Insured Earthquake Excess: $20,000

or 1% of Sum Insured whichever is greater.


Classification Occurrence Occurrence Not Insured Not Insured Policy Wording SIA SavannahPak

LYDW-010112v1 Savannah’s “Package” Insurance Policy Wording

SIA SavannahPak LYDW-010112v1 Savannah’s “Package” Insurance Policy Wording


The Policy contains a number of additional extensions. The Policy sets out those extensions and their relevant sub-limits. We recommend that you review the Policy to identify the additional extensions and their sub-limits


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Section 1- Material Damage Sub-Classification

Property (Buildings) Sum Insured: Building $ Not Insured

Property (Stock & Contents) 570 Australia Little Athletics Centres/Clubs Association

Sum Insured: Sum Insured

Contents & Stock Building Contents & Stock

$ 13,183,846 $ 75,000

Flood (as defined in Policy and if available)

Sum Insured: $ Not Insured

Optional Extensions Theft

Sum Insured: Contents & Stock

$ 100,000

Money Sum Insured: In Transit On Premises – Business Hrs On Premises – Outside Business Hrs In Locked Safe or Storeroom on Premises In Private Residence Damage to Safe/Storerooms

$ 20,000 $ 20,000 $ 1,000 $ 20,000 $ 20,000 $ 20,000

Glass Sum Insured: Internal/External Glass

Illuminated Signs Replacement Value Replacement Value

General Property * Including Portable & Identified Property

Sum Insured: General Property ** Unspecified items Blanket Cover (No Laptops) Laptop Computers Photo Finish Equipment Electronic Distance Measurers

$ 10,000 $ 20,000 $ 73,000 $ 30,000

Machinery Breakdown Sum Insured: Machinery Deterioration of Stock

$ 3,000 $ 1,000

Marine Transit * Sum Insured: Tools of Trade ** & Stock ** $ 50,000 any one event Sub-Limits

Sum Insured:

Alternative Accommodation Costs Capital Additions Costs of Tracing Source of Water Damage Demolition and other costs Employees Effects Hazardous Substances Expediting Costs Temporary Hire Costs Media & Electronic Data Restoration Fire Extinguishment Costs Landscaping Professional Fees Protection Costs Redundant Foundations Rewards Removal of Debris Rent Payable Rewriting of Records Social Club Stolen Keys Seasonal Increase

$10,000 any one event 20% of total SI or $500,000 whichever is less $10,000 any one event Included in total SI $5,000 any one event $25,000 $100,000 $10,000 $10,000 $50,000 any one event $50,000 any one event $25,000 any one event $25,000 any one event Included in total SI $5,000 any one event $100,000 any one event $10,000 any one event $25,000 any one event Included in total SI $10,000 any one event 30% of Contents &Money


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Temporary Removal Unharmed Property Works of Art

SI or $100,000 whichever Is less Included in total SI Included in total SI $5,000 per item, $25,000 in total

*Cover is restricted per the terms of the Policy. ** Any One Item limit: Maximum limit any one item $2,500 unless otherwise specified. . Excesses Applicable to all Coverages under Section 1

All claims are subject to an excess of $250 for each and every claim other than claims arising from the following perils, which, if coverage for these perils is provided, will be subject to an excess per claim as shown – other than Spoilage of Frozen Foods claims which are subject to an excess of $100 for each and every claim: Flood: $ Not Insured Cyclone: $10,000 each and every claim Earthquake: $20,000 or 1% of the Sum Insured whichever is greater

The Policy contains a number of additional extensions. The Policy sets out those extensions and their relevant sub-limits. We recommend that you review the Policy to identify the additional extensions and their sub-limits. Section 2: Business Interruption (Consequential Loss)

Sub-Classification

Loss of Gross Revenue Increased Cost of Working Claims Preparation Costs Closure of Transport Routes, Ports or Airports Customer/Suppliers Premises Health Closure Murder, Suicide, Criminal Injury Prevention of Access Public & Private Utilities Business Interruption following Equipment Breakdown

Sum Insured: Sum Insured: Sum Insured: Sum Insured: Sum Insured: Sum Insured: Sum Insured: Sum Insured: Sum Insured: Sum Insured:

$ 75,000 $ 50,000 $ 50,000 $ 26,250 $ 50,000 $ 26,250 $ 26,250 $ 26,250 $ 50,000 $250,000

Indemnity Period: 12 Months

Excess Time Excess:

Section 2 – Business Interruption

All claims are subject to an excess of 48 hours for each and every claim.

The Policy contains a number of additional extensions. The Policy sets out those extensions and their relevant sub-limits. We recommend that you review the Policy to identify the additional extensions and their sub-limits.

Section 3: General Third Party Public & Products Liability – Not Insured Section 4: Errors and Omissions – Not Insured


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SIA-PAK-LYDW-310311

Savannah Insurance Agency Pty Ltd

“SavannahPak”

Commercial Business Insurance

Combined Product Disclosure Statement (PDS)

(Including Policy Wording)

and

Financial Services Guide (FSG)

This Combined PDS & FSG is dated 31st March 2011.

Issued by Savannah Insurance Agency Pty Ltd (ABN 84 130 364 313), (Australian Financial Services

Licence No. 329631) (“Savannah”), acting under a binding authority arrangement which gives Savannah

the authority to act as an Agent of Certain Underwriters at Lloyd‟s.

SIA-PAK-LYDW-310311

This page has been deliberately left blank.

SIA-PAK-LYDW-310311

INDEX


SavannahPak Commercial Business Insurance

Combined Product Disclosure Statement and Financial Services Guide

(including Policy Wording)

Part 1 – IMPORTANT INFORMATION ............................................................................................... 1

Part 2 – “SAVANNAHPAK” BUSINESS INSURANCE POLICY WORDING ......................................10

Section 1 ............................................................................................................................36

Section 2 ............................................................................................................................51

Section 3 ............................................................................................................................59

Section 4 ............................................................................................................................67

Part 3 - FINANCIAL SERVICES GUIDE (FSG) ..................................................................................73

Part 1 – IMPORTANT INFORMATION

SIA-PAK-LYDW-310311 Page 1


ABOUT OUR COMMERCIAL BUSINESS INSURANCE

1 This Product Disclosure Statement (PDS)

This PDS is designed to assist You to make informed choices about Your insurance needs. It gives a summary of the benefits and risks associated with this insurance product. This document is divided into three sections. The first section (Part 1) includes general information about this insurance. The second section (Part 2) is the Policy wording that sets out the specific terms, conditions and exclusions of the cover that We will provide, which should be read carefully to ensure that it provides the cover You need. Parts 1-2 form the PDS. The third section (Part 3) is the Financial Services Guide designed to help You decide whether to Use the services that Savannah provide, and other information that You should read carefully before entering into this Policy.

Please keep this combined PDS and FSG, along with Your policy documents, in a safe place for future reference.

In this PDS:

Insurer, We, Our or Us means Certain Underwriters at Lloyd‟s.

You or Your means the Person(s) named in the Policy Certificate as Insured Person(s) in connection with:

(a) the circumstances in which entitlements to benefits arise (including the application of any exclusions);

(b) the general conditions and limitations of cover;

(c) notification and disclosure obligations; and

(d) the obligation to pay the Premium

Insured Person(s) means the person(s) named in the Policy Certificate by You from time to time for the insurance cover selected by You.

As the information in this PDS may change from time to time, You can obtain updated information simply:

(a) by asking Your intermediary (if applicable);

(b) by visiting: www.savannahgroup.com.au;

(c) by writing to the address shown below; or

(d) by emailing Us: [email protected].

If the change to the information is materially adverse, We will issue a Supplementary PDS.

2 About Savannah Insurance Agency Pty Ltd

Savannah Insurance Agency Pty Ltd (ABN 84 130 364 313), (Australian Financial Services licence no. 329631) (“Savannah”), is an underwriting agency created to provide a range of insurance products including business insurance. Savannah acts as an agent for and on behalf of Certain Underwriters at Lloyd‟s. Savannah does not act on Your behalf. Savannah has full authority to quote contracts of insurance; issue contracts of insurance; collect premiums; and pay claims as an agent of Certain Underwriters at Lloyd‟s.

http://www.savannahgroup.com.au/




Savannah‟s contact details are:


ABN 84 130 364 313; AFS Licence No: 329631 Suite 2, Level 9, 220 George Street, Sydney, NSW 2000

Telephone: (02) 8062 4254 Fax: (02) 8078 0162 Website: www.savannahgroup.com.au Email: [email protected]

3 About the Insurer

Lloyd‟s underwriters are authorised by APRA pursuant to the Insurance Act 1973.

Savannah is authorised by the Insurer to enter into contracts of insurance underwritten by Certain Underwriters at Lloyd‟s, and Savannah is authorised under the binder as agent of the insurer under a binding authority agreement as if it were the Insurer. We do not act on Your behalf.

4 Your Individual Requirements

When preparing this PDS, We and Savannah have not taken into account Your individual objectives, requirements or financial position. We generally distribute Our products through licensed insurance brokers or advisers (intermediaries).

You should discuss with Your intermediary the type of risks You need to insure against and the appropriate amount of cover that You need. Further, if You have any questions about the appropriateness of this product for Your objectives, requirements or financial position, You should seek advice from Your intermediary.

If You wish to contact Us about this PDS, please Use the contact details given above. However, We can only provide You with factual information or general advice about this product and cannot advise You whether the product is appropriate for Your objectives, requirements or financial position.

If Your circumstances, relevant to the risks We have agreed to insure, change after taking out this insurance You should notify Us (or ask Your intermediary to do so on Your behalf) as soon as possible.

5 Types of Cover

The Policy provides an insurance coverage for your business. You may choose only additional benefits of insurance cover, which are explained below. The type of insurance cover You choose will be set out on Your Policy Certificate.

We will pay You the benefit set out in Your Policy Certificate.

Section 1 – Material Damage

Defined events

Theft

Money

Glass

Machinery Breakdown

Section 2 – Business Interruption





Section 3 – Public and Products Liability

Section 4 – Errors and Omissions Liability

There are differences between each section including different definitions, limits of liability, specific exclusions, and specific conditions. The terms in one section may be different from another section. You should read each section carefully to ensure that the cover chosen is appropriate for Your needs.

Further details and limits on cover are set out in Part 2 of this PDS.

6. Other Issues to Consider before Taking out this Insurance

The Policy contains exclusions, terms and conditions, as well as limits and sub-limits that You should be aware of when considering whether to purchase this product.

7. Conditions

As well as the conditions that appear in each section, the Policy also includes a number of general exclusions and definitions that apply to all sections. These exclusions and definitions are listed in the Policy wordings. In some circumstances, a breach of a condition may entitle Us to refuse to pay a claim or reduce the amount We are liable to pay.

8. Limit of Liability

The most We will pay for all claims under this Policy during any Period of Insurance is set out under the Limit of Liability in the Policy Certificate. Once the Limit of Liability has been paid, You will need to pay Us an additional premium to reinstate the Policy cover.

9. Limits on What We Will Pay

The maximum benefit We will pay under this Policy is the Sum Insured set out in the Policy Certificate.

10. What we do not Pay

Claims may be excluded in certain circumstances under this Policy, which means We may refuse to pay Your claim.

Please refer to what We exclude in each section of the policy.

11. Selecting a Sum Insured

It is important that You ensure that You have selected a Sum Insured for each cover that provides You and the Insured Person(s) with sufficient protection for Your needs.

12. Sum Insured

The Sum Insured is the amount We agree to insure You for when You take out the Policy as shown on Your Policy Certificate.

13. Basis of Settlement

It is also important that You understand how We settle and pay Your claims. This Policy sets out the grounds by which you may be entitled to claim and the terms on which we review and determine whether a Claim should be paid.



14. How to Apply for this Insurance and Our Contract with You

You will be required to complete a proposal form. We will Use the information You supply in the proposal form to determine the terms of cover We will provide. The terms of cover are contained in the Policy and the most recent Policy Certificate that We issue to You.

The Policy Certificate will contain important information about Your cover, including the Period of Insurance, the premium, the level of cover (and the insured amounts) You have chosen and whether any standard terms have been varied by way of endorsement to the Policy.

You should keep all of the Policy documents in a safe place.

15. The Cost of this Insurance Policy

The cost of Your Policy will be shown on the quotation provided, once all required information has been received. The cost of Your Policy is calculated based on a number of considerations including the premises location, premises occupation, claims experience and other information about property and persons covered under this Policy, relevant to the particular risk. These factors, and the degree to which they affect Your premium, will depend on the information that You provide to Us.

The cost of Your Policy is made up of premium, government taxes and levies such as goods & services tax (GST), fire service levies (FSL), and stamp duty (SD), where applicable.

Please note that the cover We provide is subject to the payment of the premium by the due date.

16. Your Duty of Disclosure – What You Must Tell Us

When You apply for insurance, You need to tell Us certain information which would affect Our decision to insure You. If You do not give Us this information, it may affect Your Policy. The duty of disclosure appears in full below. Please ensure You read this carefully.

The duty of disclosure notice will also appear on Your renewal invitation and the duty of disclosure also applies to any endorsements or variations You request.

Before You enter into a contract of general insurance with an insurer, You have a duty, under the Insurance Contracts Act 1984 (Cth) to disclose to Us every matter You know, or could reasonably be expected to know, that is relevant to Our decision whether to accept the risk of the insurance and, if so, on what terms.

You have the same duty to disclose those matters to Us before You renew, extend, vary or reinstate a contract of general insurance.

You do not have to tell Us about any matter that:

(a) diminishes the risk to be undertaken by Us;

(b) is of common knowledge;

(c) We know or, in the ordinary course of Our business, ought to know; or

(d) We say We do not need to know.

17. Who needs to Disclose

You are answering questions on behalf of Yourself and anyone else You want to be covered by this Policy. The duty of disclosure applies to You and everyone else insured by the Policy.



18. Non Disclosure

If You fail to comply with Your duty of disclosure, We may be entitled to reduce Our liability under the Policy in respect of a claim, or We may cancel the Policy. If Your non-disclosure is fraudulent, We may also have the option of avoiding the Policy from its beginning.

19. Taxation Implications

Depending upon You or Your company‟s entitlement to claim input tax credits under this Policy, We may reduce the payment of Your claim by the amount of any input tax credit..

There may be other taxation implications affecting You depending upon Your own circumstances. We recommend that You seek professional advice.

20. Making a Claim

If You need to make a claim, please send written notice of Your claim to Your insurance broker or adviser (intermediary) within thirty (30) days of the date of the loss event occurring, or as soon as reasonably possible. Your insurance broker or adviser (intermediary) will send You a copy of Our claim form which will need to be fully completed. We will not be responsible for any payments under the Policy unless this form is fully completed and returned to Us. Any costs involved in the collection of information for the form are Your responsibility.

At any time after a claim has been lodged We may conduct enquiries into the circumstances of the claim. This will be done at Our expense. For all claims enquires please contact Proclaim on the below details: Locked Bag 32012, Collins St East, VIC 8003 Telephone: (03) 9660 5200 Fax: 1300858329 Or email: [email protected]

Once a payment is made under this Policy, We may attempt to recover the amount We have paid to You if We find someone else is responsible for the loss or damage. We will do this in Your or the Insured Person(s) name. We may also need to defend You, or the Insured Person(s), if someone else alleges You caused them loss or damage. You and the Insured Person(s) are required to cooperate with Us at all times.

Any payments under this Policy will be to You, or in the event of Your death, Your legal representative.

21. Cooling-Off Period

You have the right to cancel the Policy by notifying the Insurer in writing within twenty-one (21) days of the date the Policy was issued to You (Cooling-Off Period). You are entitled, during the Cooling-Off Period, to a complete refund of the amount You have paid for the Policy. If You choose to cancel the policy during the Cooling-Off Period, We will treat the policy as never having existed.

You are not entitled to a refund if, during the Cooling-Off Period, the Policy has already expired or if You have made a claim under the Policy.

22. Cancellation

You may cancel the Policy by notifying Us in writing. The cancellation will take effect on the day We receive such notice in writing. We will refund the premium for the unexpired Period of Insurance. If more than one person, company or firm is named on the Policy as an Insured Person(s), We will only cancel the Policy if a written agreement to cancel the Policy is received by Us from all parties named as an Insured Person(s).




We may cancel the Policy in any of the circumstances set out in, and in the manner allowed by, the Insurance Contracts Act 1984 (Cth). We will advise You in writing if the Policy is cancelled by Us. If We cancel the Policy We will refund the premium for the unexpired Period of Insurance.

23. Dispute Resolution

We and Savannah will do everything possible to provide a quality service to You. However, We recognise that occasionally there may be an aspect of Our or Savannah‟s service or a decision We or Savannah have made that You wish to query or draw to Our or Savannah‟s attention. Savannah has complaints and dispute resolution procedures which undertake to answer Your queries or complaints within fifteen (15) working days. If You have any queries or complaints, please contact Savannah, Savannah‟s staff are always available to listen to You and to help where they can.

If You wish to make a complaint or access Savannah‟s internal dispute resolution service, please contact Savannah and ask to speak to Savannah‟s dispute resolution manager. The contact details of Savannah‟s dispute resolution manager are as follows:

Savannah Dispute Resolution Manager

GPO Box 4920, Sydney, NSW 2001 Tel: (02) 8062 4254 Fax: (02) 8078 0162

If You are unhappy with Savannah‟s response, or Savannah has taken more than fifteen (15) working days to respond, You should contact the Compliance Officer at:

Lloyd‟s Australia Limited Suite 2, Level 21 Angel Place 123 Pitt Street, Sydney NSW 2000 Telephone: (02) 9223 1433 Facsimile: (02) 9223 1466

Email: [email protected]

When You lodge Your dispute with Us, We will Usually require the following information: (a) Name, address and telephone number of the policyholder

(b) The type of insurance policy involved

(c) Details of the policy concerned (policy and/or claim reference numbers, etc)

(d) Name and address of the insurance intermediary through whom the policy was obtained Details of the reasons for lodging the dispute

(e) Copies of any supporting documentation You believe may assist Us in addressing Your dispute appropriately.

Following receipt of Your dispute, You will be advised whether Your dispute will be handled by either Lloyd‟s Australia or the Policyholder & Market Assistance Department at Lloyd‟s in London:

If You are unhappy with this response, You may take Your complaint to the Financial Ombudsman Service (FOS), an Australian Securities & Investments Commission (ASIC) approved external dispute body.

The FOS resolves certain insurance disputes between consumers and insurers and will provide an independent review at no cost to You. We and Savannah are bound by any determination made by the FOS but the determination is not binding on You.




The contact details of the FOS are as follows: GPO Box 3, Melbourne VIC 3001

Freecall: 1300 78 08 08 Fax: (03) 9613 6399 Email: [email protected] Web: www.fos.org.au

If FOS has no jurisdiction or if you are unhappy with its determination then the following Lloyd’s Australian Alternative Dispute Resolution Procedure is available. In the event that a dispute arises between us and you out of or otherwise in relation to this agreement, then:

(a) Any party to the dispute shall, without prejudice to any other right or entitlement they

may have, give written notice to the other party (the “Dispute Notice”) requiring them within seven (7) days of this notice to negotiate (whether in a face to face meeting or by teleconference) in good faith as to how the dispute can be resolved;

(b) If a dispute is not resolved within ten (10) days of the Dispute Notice, either party can request the other party within a further ten (10) days to agree on either:

(i) a process for resolving the dispute through means other than litigation or arbitration, such as further negotiation, mediation, or any other alternative dispute resolution technique. The rules governing any such technique shall be agreed as between the parties and where no such agreement as to the process and or guidelines is reached within ten (10) days, then it shall be by mediation by a mediator selected by the Chairperson for the time being of Lawyers Engaged in Alternative Dispute Resolution (LEADR) (or other appropriate professional body as agreed by the parties); or

(ii) referral of the matters in dispute to an independent expert for an expert determination. The parties agree that they will not be bound by the determination of the expert. The expert:

(A) will be a person agreed between the parties within ten (10) days of the dispute being referred to expert determination or failing this, the expert will be a person appointed by the Australian Insurance Law Institute (or other appropriate professional body as agreed by the parties);

(B) will act as an expert and not as an arbitrator;

(iii) will proceed in such a manner as he or she thinks fit without being bound to observe the rules of natural justice or the rules of evidence;

(iv) will take into consideration all documents, information and other written and oral material that the parties place before him or her including documents, information and material relating to the facts in dispute and to arguments and submissions upon the matters in dispute; and will act with expedition to provide the parties with a determination in writing within thirty-five (35) days of the referral to him or her of the matters in dispute.

Both parties must use their best endeavours to achieve resolution by the selected process and further agree that neither party will initiate litigation (as set out in clause (c) below) without first pursuing such informal resolution techniques in good faith;

In the event that the dispute is not resolved by such informal process within thirty-five (35) days of the Dispute Notice (or such other period as agreed in writing between the parties) the dispute shall be referred to litigation.


http://www.fos.org.au/



(c) Following either a mediation or an expert determination pursuant to clause (b) of this provision, either party may then initiate proceedings in any competent Court in the Commonwealth of Australia in relation to the matters in dispute.

Such proceedings may only be commenced on 14 days written notice to the other party and shall be determined in accordance with the law and practice applicable in such Court.

Any summons, notice or process to be served upon Underwriters may be served upon:

Lloyd‟s Underwriters' General Representative in Australia Suite 2, Level 21, Angel Place

123 Pitt Street, Sydney NSW 2000, Australia

who has authority to accept service and to appear on Underwriters‟ behalf.

If proceedings are instituted against any one of the Underwriters, all Underwriters participating in this insurance will abide by the final decision of such Court or any competent Appellate Court.

(d) Except where the dispute renders it impossible to do so, the parties will continue

performing their respective obligations under the Policy while the dispute is being resolved, unless and until such obligations are terminated or expire in accordance with this agreement.

(e) Each party must use its reasonable endeavours to ensure that where a dispute is reasonably foreseeable, it is dealt with at a sufficiently early stage to ensure that there is a minimal effect on the ability of either party to perform its obligations under the Policy.

(f) Notwithstanding anything in this Policy, either party may at any time commence Court proceedings in relation to any dispute or claim arising under, or in connection with the Policy where the party seeks urgent interlocutory relief.

24. Service of Suit Clause (Australia)

The Underwriters hereon agree that: (a) In the event of a dispute arising under this Policy, Underwriters at the request of the

insured (or reinsured) will submit to the jurisdiction of any competent Court in the Commonwealth of Australia. Such dispute shall be determined in accordance with the law and practice applicable in such Court.

(b) Any summons notice or process to be served upon the Underwriters may be served upon:

Lloyd‟s Australia Limited Suite 2, Level 21 Angel Place

123 Pitt Street, Sydney NSW 2000 Telephone: (02) 9223 1433 Facsimile: (02) 9223 1466

who has authority to accept service and to enter an appearance on Underwriters' behalf, and who is directed at the request of the insured (or reinsured) to give a written undertaking to the insured (or reinsured) that he will enter an appearance on Underwriters' behalf.

(c) If a suit is instituted against any one of the Underwriters all Underwriters hereon will abide by the final decision of such Court or any competent Appellate Court.

25. Privacy

We are committed to protecting Your privacy in accordance with the terms of the Privacy Act, 1988. We Use the information You provide Us to quote on Your application for a Policy, to provide the insurance, administer the Policy and asses and manage any claims.



We only provide personal information to Our underwriters and reinsurers (and their representatives) and those We appoint to assist Us with claims under Your Policy.

If You do not provide Us with full information, We cannot properly quote for Your insurance and We cannot insure You. You can check the personal information We hold about You at any time. Such application should be directed to Savannah, in writing, where it will be considered by its internal privacy disputes department.

If You provide Us with personal information about anyone else, We rely on You to have obtained their consent and to have informed them: (a) to whom We may provide their personal information;

(b) the purposes for which We will Use their personal information; and

(c) how they can access that information.

If the information is sensitive, We rely on You to have obtained their consent on these matters.

For more information about Our privacy policy, please visit Our Website.

26. Code of Practice

This Policy is Insurance Council of Australia‟s General Insurance Code of Practice compliant, apart from any claims adjusted outside Australia. Underwriters at Lloyd‟s proudly support the General Insurance Code of Practice. The purpose of the Code is to raise standards of practice and service in the general insurance industry.

When You lodge a claim Savannah will tell You in plain language what information Savannah needs and how You should go about making Your claim.

Savannah will respond promptly to any requests You make for assistance with Your claim and it will be considered and assessed promptly.

Part 2 – "SAVANNAHPAK" BUSINESS INSURANCE POLICY WORDING


Part 2 – “SAVANNAHPAK” BUSINESS INSURANCE POLICY WORDING

1 General Definitions - Applicable to all Sections of the Policy

Aircraft means a vehicle designed to be used primarily in the air and to be supported by the dynamic reaction of the air upon the vehicle‟s wings or rotor-blades, and/or by the vehicle‟s buoyancy in the air. The term Aircraft, however, excludes missiles, spacecraft and the ground support or control equipment Used therewith.

Accidental Death means death during the Period of Insurance resulting from an accident caused by sudden, violent, external and visible means and occurring solely and directly and independently of any other cause including any pre-existing physical, medical or congenital condition. It does not mean a sickness or disease.

Accident means a sudden and accidental breakdown of an Object or a part thereof, which manifests itself at the time of its occurrence by physical damage to the Object or part thereof that necessitates its repair or replacement, but Accident shall not mean:

(a) Depletion, deterioration, corrosion or erosion of material;

(b) Wear and tear;

(c) Leakage at any valve, fitting, shaft seal, gland packing, joint or connection;

(d) Vibration or misalignment;

(e) The breakdown of any structure or foundation supporting the Object or any part thereof;

(f) The functioning of any safety device or protective device; or

(g) The cracking of any part of a gas turbine exposed to the products of combustion.

Actual Cash Value means the cost of replacing the damaged property with property of similar kind, capacity, size, quality and function less depreciation however caused. The Insurer will consider such items as the age, condition and normal life expectancy of the damaged property in determining depreciation.

Aircraft Products means:

(a) Aircraft and any ground support or control equipment Used therewith;

(b) Any Insured Product furnished by the Insured and installed in Aircraft or Used in connection with Aircraft;

(c) Any tooling Used for the manufacture of (a) or (b) above;

(d) Any ground handling tools and equipment Used in connection with (a) or (b) above including training aids, navigational aids, instruction or manuals;

(e) Blueprints, engineering or other data furnished by the Insured in connection with (a), (b), (c) or (d) above;

(f) Any advice, service and/or labour furnished by the Insured in connection with (a), (b), (c), (d) or (e) above.

Assured – means the Insured as specified in the Policy Certificate.

Bodily Injury means injury sickness or disease or death resulting from such injury sickness or disease and shall include mental injury mental anguish and shock.



Buildings means buildings, other structures and their appurtenances including but not restricted to the plant, fixtures, glass, signs (including illuminated signs), pipes and cables pertaining to any of them and located in or about the premises. Including fixed signs and lettering, tanks, poles, power lines and their supports, walls, gates, fences, landscaping, gardens, ornamental trees and shrubs, roads, paths, yards and the like.

Business means all usual activities and operations of the Named Insured as described in the Policy Certificate and includes:

(a) The ownership, tenancy or occupation of premises of the Named Insured;

(b) Private work carried out with the consent of the Named Insured for any Insured Person of the Named Insured by an Employee;

(c) The provision or management of canteen, social or sports organisations for the Named Insured‟s Employees; and

(d) The provision of the Named Insured‟s own internal fire, first aid, medical, security and ambulance services.

Business Hours means any hours during which You or any Principal or any Employee entrusted with the care, custody or control of Money is on the premises for the purpose of Your Business.

Civil liability means that a court finds, or We accept, that You are legally responsible to pay compensation and claimant‟s costs and expenses in respect of any claim that is first made against You and notified to Us during the period of insurance and, resulted from the conduct of the professional services of the business: but not in respect of any such claim that resulted from an act, error or omission occurring, committed or alleged to have been committed prior to the retroactive date.

Claim means any written demand, notice, complaint, proceeding, arbitration or other written communication received by You:

(a) Seeking damages, a remedy, or non-monetary relief; or

(b) Making a criminal charge, and/or alleging liability or responsibility on Your part for an Occurrence covered by this Policy; or

(c) In connection with an Investigation.

Computer Virus means a set of corrupting, harmful or otherwise unauthorised instructions or code including a set of maliciously introduced unauthorised instructions or code, programmatic or otherwise, that propagate themselves through a computer system or network of whatsoever nature. Computer Virus includes but is not limited to „Trojan Horses‟, „worms‟ and „time or logic bombs‟.

Contents or Contents of Buildings means chattels in the open or under shelter, tenant‟s improvements, Contents of Buildings and all other tangible property not being Buildings, Stock in Trade or Other Property. Including, where You are the tenant of the building, glass and other landlord‟s fixtures and fittings if You are responsible for insuring them and if their value is not included in the Sum Insured on Buildings.

Continuity Date means the date from which the Insured has maintained uninterrupted Directors & Officers Liability cover with the Insurer, where this is applicable to the cover provided by this policy.

Customers Accounts means all credit accounts of the Business.

Defence Costs means any reasonable fees, costs and out of pocket expenses incurred by any Insured Director, with the prior written consent of the Insurer, in the investigation, defence, settlement or appeal of any Claim.

Destroyed means so damaged by an insured event that the property by reason only of that damage cannot be repaired.



Electronic Data means facts, concepts and information converted to a form Useable for communications, interpretation or processing by electronic and electromechanical data processing or electronically controlled equipment and includes programmes, software and other coded instructions for the processing and manipulation of data or the direction and manipulation of such equipment.

Employee Dishonesty Loss for the purpose of this Insurance means direct financial Loss (other than salary or other remuneration) of money, securities or tangible property owned by the Insured, or in the care, custody or control of the Insured and for which the Insured is liable, in connection with any act or series of related acts of fraud or dishonesty. Loss shall not include costs, fees or other expenses incurred in establishing the existence or amount of any Loss.

Employment Practice Liability means any actual or alleged;

(a) unfair or wrongful dismissal, discharge or termination, either actual or constructive, of an employment relationship or agreement in a manner which is against the law, misleading representation or advertising relating to employment;

(b) failure to employ or promote, unfair deprivation of a career opportunity, unfair discipline, failure to grant tenure or negligent employee evaluation;

(c) sexual harassment in the workplace or workplace harassment of any kind (including the alleged creation or permission of a harassing workplace environment);

(d) Employment-related denial of natural justice, invasion of privacy, defamation, wrongful infliction of emotional distress, or discrimination on any legally prohibited basis.

Equivalent Building means:

(a) a building or structure which is as nearly as practicable the same as the building or structure lost or Destroyed, using currently equivalent materials and techniques and incorporating such alterations as are necessary to comply with any building or other regulations made under or framed in pursuance of any Act of Parliament or regulation or by-law of any local authority;

(b) where, as a result of any special circumstances, no building or structure which falls within the scope of (a) above can be constructed; a building or structure which is designed to perform a purpose of function the same as or equivalent to (but not more extensive than) that performed by the building or structure lost or Destroyed;

(c) where as a result of any special circumstances, no building or structure which falls within the scope of (a) above is suitable to Your reasonable requirement, then, with the consent of the Insurer (which will not be unreasonably withheld), a building or structure which is designed to perform a purpose or function suitable to that requirement, but not more extensive than that performed by the building or structure lost or Destroyed.

Equivalent Plant means any: Plant or equipment as nearly as practicable the same as or equivalent to the plant or equipment lost or Destroyed, having regard to the current state of technology, and having an equivalent capacity to that of the lost or Destroyed plant or equipment but not greater capacity unless plant or equipment with an equivalent capacity is not available and the replacement plant or equipment has the nearest equivalent capacity.

Excess means the amount specified in this Policy, payable by You on each and every claim arising out of one event under this Policy. Should more than one Excess be payable under this Policy for any claim or series of claims arising from the one event, such Excesses shall not be aggregated and the highest single level of Excess only shall apply.

Flood means the inundation of normally dry land by water escaping from the normal confines of any natural water course or lake (whether or not altered or modified) or any dam, reservoir or canal.

Grounding means the withdrawal of one or more Aircraft from flight operations or the imposition of speed, passenger or load restrictions on such Aircraft, by reason of the existence of or alleged or suspected existence of any defect, fault or condition in such Aircraft or any part thereof sold, handled or distributed by You or manufactured, assembled or processed by any other person or organisation according to Your specifications, plans, suggestions, orders or drawings or with tools, machinery or



other equipment furnished to such persons or organisations by You, whether such Aircraft so withdrawn are owned or operated by the same or different persons, organisations or corporations.

A Grounding will be deemed to commence on the date of an Occurrence which discloses such condition or on the date an Aircraft is first withdrawn from service on account of such condition, whichever occurs first.

Hazardous Substance means:

(a) Any pollutant, contaminant or other substance declared by a governmental authority to be hazardous to health or the environment; or

(b) Any mould, yeast, fungus or mildew including any spores or toxins created or produced by or emanating from such mould, yeast, fungus or mildew, whether or not allergenic, pathogenic or toxigenic.

Hovercraft means; any vessel, craft or device made to float on or in travel on or through the atmosphere or water on a cushion of air provided by a downward blast.

Gross Profit means the amount by which the sum of the Turnover and the amount of the Closing Stock and work in progress exceeds the sum of the opening stock and work in progress and the amount of the uninsured working expenses.

Gross Rentals means the money paid or payable to You by tenants in respect of rental of the Premises.

Incidental Contracts means:

(a) Any written agreement for lease of real or personal property which does not impose upon the Named Insured;

(b) An obligation to insure such property; or

(c) Any liability regardless of fault;

Any written contract with any entity for the supply of water, gas or electricity but only to the extent of indemnifying any such entity in respect of liability arising out of the Business other than contracts for the performance of work or provision of services by the Named Insured.

Indemnity Period means the period beginning with the occurrence of Insured Damage and ending not later than the number of months specified in the Policy Certificate during which the results of the Business shall be affected in consequence of Insured Damage.

Insured means the Insured as specified in the Policy Certificate.

Insured Contract means that part of any contract or agreement pertaining to the Named Insured‟s Business under which the Named Insured assumes the tort liability of another party to pay for Personal Injury or Property Damage to a third person or organisation.

However, the Personal Injury or Property Damage must arise out of an Occurrence that takes place subsequent to the execution of Your Contract. Tort liability means a liability that would be imposed by law upon the other party in the absence of any contract or agreement.

Insured Damage means that damage insured under Sections 1 and 2 of this Policy.

Insured Event means an event as defined and described in the Policy Wording.

Insured Person(s) means the person(s) named in the Policy Certificate by You from time to time for the insurance cover selected by You and for which the premium has been paid.



Insured’s Products means any goods or products (after they have ceased to be in Your possession or under Your control) which is or is deemed (whether by law or otherwise) to have been manufactured, constructed, grown, extracted, treated, imported, exported, produced, processed, assembled, erected, installed, repaired, serviced, treated, sold, supplied or distributed by You. Insured Products includes any packaging or containers, designs, formulae or specifications thereof, directions, instructions or advice given or omitted to be given in connection with such things other than a Vehicle or vending machine.

Insured Property means Buildings, Contents of Buildings, Stock in Trade, or Other Property not expressly excluded all being the Insured‟s own or held by the Insured jointly or in trust or on commission, for which the Insured is legally responsible, is located at the situation, and is specified in the Policy Certificate of sums insured.

Insurer, We, Our or Us means Certain Underwriters at Lloyd‟s.

Investigation means any investigation, examination or inquiry by any regulator, government authority or official trade body into Your affairs or conduct of the Business by an Insured Person.

Investigation Costs means the reasonable and necessary fees, costs and expenses incurred by or with the prior written consent of the Insurer by or on behalf of an Insured Person in preparing for and attending any Investigation.

Knowledge and Discovery means that the knowledge or discovery of a Loss occurs when the Insured becomes aware of facts which would cause a reasonable person to believe that a Loss covered by The Policy has been or may be incurred, even though the exact amount or details of the Loss may not then be known. Knowledge possessed or discovery made by any Insured Director thereof shall constitute knowledge possessed or discovery made by the Insured.

Legal Proceedings means litigation, arbitration, mediation, adjudication or any other process of dispute resolution.

Limit of Liability means the amount/s specified in the Policy Certificate.

Machine means any contrivance for the conversion and direction of motion or energy, or for the performance, process, and includes any protective device in connection with that contrivance.

Media means material, on which data is recorded, such as magnetic tapes, hard disks, floppy disks, cartridges, CDS or DVDS.

Money means current coin bank and currency notes, cheques, travellers‟ cheques, postal notes, money order, unused postage stamps, redeemable vouchers and tokens, phone cards, franking machine credits and other negotiable instruments.

Named Insured means:

(a) The entity set forth in the Policy Certificate as the Insured; and

(b) Each service and administration company, trustee and nominee company in relation to the provision of administration and management services relevant to the Business of the entity set forth in (a) above; and

(c) Any Subsidiary of the entities detailed in a) and b) above.

North America means:

(a) The United States of America and/or Canada;

(b) Any state, territory or protectorate incorporated in, or administered by, the United States of America and/or Canada; and

(c) Any country or territory subject to the laws of the United States of America and/or Canada.



Occurrence means an event, including continuous or repeated exposure to substantially the same general conditions, which results in Personal Injury or Property Damage neither expected nor intended from Your standpoint.

All events of a series consequent on or attributable to one source or original cause shall be deemed one Occurrence.

Object means any equipment owned, leased, operated or controlled by You and described below:

(a) Any boiler, any fired or unfired pressure vessel normally subject to vacuum or internal pressure other than static pressure of contents, any refrigerating or air conditioning vessels and piping or any other piping and its accessory equipment, but Object shall not include:

(i) any boiler setting, any refractory or insulating material;

(ii) any part of a boiler or fired vessel that does not contain steam or water;

(iii) any hose, buried piping, sewer piping, drainage piping, sprinkler system or its accessory equipment; or

(iv) any oven, stove, furnace or kiln but not excluding heat recovery piping or vessels Used therewith;

(b) Any mechanical or electrical machine or electrical apparatus Used for the generation, transmission or utilisation of mechanical or electrical power; but Object shall not include:

(i) any elevator, escalator, crane or hoist; or

(ii) any oven, stove, furnace or kiln;

(iii) but not excluding:

(iv) any pump, compressor, fan, blower, engine or turbine;

(v) any separate enclosed gear set connected to such machine or apparatus by a coupling, clutch or belt;

(vi) any electrical equipment; or

(vii) any electronic equipment Used solely to start, stop, control or monitor such machine or apparatus;

(viii) any vehicle, any mechanically or electrically propelled equipment, any towable equipment, power shovel, excavator, dragline or other mobile equipment, including equipment permanently mounted thereon; or

(ix) any conveyor belt;

(c) Any electronic equipment Used:

(i) For the generation, control, transmission, reception, recording, reproduction, playback or other Use of television, radio or telephone signals;

(ii) For research, diagnostic, treatment, experimental or other medical or scientific purposes;

(iii) For computing, data processing, duplicating, inventory control, monitoring, scanning or office services; or

(iv) To start, stop, control or monitor one or more insured Objects,

but Object shall not include any anode, x-ray or video amplifier tube.



Other Property means other property more particularly described in the Policy Certificate.

Outstanding Debit Balance means the total amount last stated in Your books of account or other Business books or records (including computer records) in which Customer‟s Accounts are shown adjusted for:

(a) Bad debts;

(b) Amounts debited (or invoiced but not debited) and credited (including credit notes and cash not passed through the books at the time of Insured Damage) to Customer‟s Accounts in the period between the date to which such last statement relates and the date of Insured Damage; and

(c) Any abnormal condition of trade which had or could have had a material effect on the Business,

so that the figure thus adjusted shall represent as nearly as reasonably practicable those which would have been obtained at the date of Insured Damage had Insured Damage not occurred.

Outside Entity means any Employee of Yours who is or was acting at the specific written request or direction of You as an Executive of an Outside Entity being:

(a) A not-for-profit entity;

(b) A privately-held corporation; or

(c) Any entity listed as an Outside Entity in an endorsement attached to this Policy.

Policy means this policy wording in respect of the sections of cover selected by You and for which a premium has been received by the Insurer and includes this PDS, Policy wording, Policy Certificate and the FSG.

Period of Insurance means the period set forth in the Policy Certificate, or any shorter period arising as a result of cancellation of this Policy. In such circumstances, the Period of Insurance shall end at the effective date of cancellation.

Personal Injury means any injury that has been sustained by You and or any other persons due to an act and or accident at or on Your premises.

Policy Certificate means the description of coverage insured attached to and forming part of this Policy and includes any current Certificate or renewal, variation or endorsement of this Policy.

Pollutant(s) means any solid, liquid, gaseous, biological, radiological or thermal irritant, toxic or hazardous substance, or contaminant, whether occurring naturally or otherwise including, but not limited to, asbestos, lead, smoke, vapour, dust, fibres, mould, spores, fungi, germs, soot, fumes, acids, alkalis, chemicals and waste.

Such waste includes, but is not limited to, materials to be recycled, reconditioned or reclaimed and nuclear materials.

Premises means the Premises specified in the Policy Certificate.

Pressure Vessel means a vessel which, in normal Use, is subject to generated or applied fluid pressure.

Principal means any of Your partners, directors and executive officers, but only in their capacity as such.

Production Process means any process of producing, making, treating or servicing goods.

Products Hazard means Personal Injury or Property Damage arising out of Your Products or reliance made upon a representation or warranty made at any time with respect thereto, but only if the



Personal Injury or Property Damage occurs away from premises owned by, leased to, rented to or occupied by You and after physical possession of such products has been relinquished to others.

Property Damage means:

(a) Physical injury to or destruction of or loss of tangible property including the loss of Use thereof at any time resulting therefore; or

(b) Loss of Use of tangible property which has not been physically injured or destroyed provided such loss of Use is caused by physical injury to or destruction of other tangible property.

Regulations means regulations made under or framed in pursuance of any Act of Parliament or regulation or by-law of any local authority.

Retroactive Cover means: The date on a Claims-Made policy that triggers the beginning period of coverage prior to the effective date. A retroactive date is not required. If a retroactive date appears on the policy, any claim made during the policy period on a loss that occurred before the retroactive date will not be covered

Reinstatement means:

(a) where property is lost or Destroyed, it‟s replacement by an Equivalent Building or by Equivalent Plant as the case may require;

(b) where property is damaged, but not destroyed, the restoration of the damaged portion to a condition substantially the same as, but not better or more extensive than, its condition when new.

Rent means periodic payments made by You for the lease of Premises.

Securities means any negotiable or non-negotiable instruments or contracts representing Money or other property including but not limited to shares, preference shares, stocks, debentures, warrants, options, bonds, promissory notes or other equity or debt security.

Senior Lawyer means a Senior Lawyer to be mutually agreed upon by the Policy Holder and the Insurer, or in the absence of agreement, to be approved by the President of the Law Society, or equivalent organisation, in the jurisdiction in which the loss was incurred.

Single Act means an act or any related or continuous or repeated acts, whether committed by an individual Single wrongful act or group of individuals, and whether directed to or affecting one or more person or legal entity.

Site means any parcel of land owned or occupied by You.

Specified Items means items listed in the Policy Certificate under the heading Specified Items.

Submission means the declarations and statements which are contained in or constitute the written proposal form or Statement of Fact together with its attachments and the other information submitted to the Insurer.

Standard Gross Revenue means the Gross Revenue during that period in the twelve months immediately before the date of insured Damage which corresponds with the Indemnity Period to which such adjustments shall be made as may be necessary to provide for the trend of the Business and for variations in or other circumstances affecting the Business either before or after insured Damage or which would have affected the Business had insured Damage not occurred, so that the figures thus adjusted shall represent as nearly as may be reasonably practicable the results which but for insured Damage would have been obtained during the relative period after insured Damage.

Standard Gross Rentals means the Gross Rentals during that period in the twelve months immediately before the date of Insured Damage which corresponds with the Indemnity Period; to which such adjustments shall be made as may be necessary to provide for the trend of the Business and for variations in or other circumstances affecting the Business either before or after Insured



Damage or which would have affected the Business had Insured Damage not occurred, so that the figures thus adjusted shall represent as nearly as may be reasonably practicable the results which but for Insured Damage would have been obtained during the relative period after Insured Damage.

Stock / Stock in Trade means:

(a) Stock in Trade, merchandise, promotional or raw materials, including the value of work done, containers, packaging materials and gold up to $5,000 in total, but excludes cigarettes and liquor and bullion.;

(b) Customers‟ goods including goods and/or merchandise and other items held in trust or on commission for which You are liable.

Subsidiary means any privately-held entity, other than a partnership or joint venture over which, either prior to or at the inception of the Period of Insurance, You have the capacity to determine the outcome of decisions about that entity‟s financial and operating policies.

Sum Insured means the maximum amount payable to You in the event of a claim under this Policy and specified in the Policy Certificate.

Territorial Limits means anywhere in the world other than North America.

Terrorism means an act, including but not limited to the Use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.

Tool(s) of Trade means any Vehicle which has attached as an integral part of such Vehicle and any equipment for mechanical digging, scraping, grading, slashing, mowing, drilling, lifting or levelling, whilst such equipment is being Used for the purpose for which it was designed.

Turnover means the Money paid or payable to You for goods sold and delivered and for services rendered in course of the Business at the Premises.

Undamaged means not damaged physically and directly by an event insured under Section 1 of this Policy.

Vehicle means any type of machine on wheels or on caterpillar tracks made or intended to be propelled other than by manual or animal power.

War means war, whether declared or not, or any war-like activities including Use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends. War includes any act of War, civil war, invasion, insurrection, revolution, Use of military power or Usurpation of government or military power.

Watercraft means any vessel or watercraft made to or intended to float on or in or travel on or through or under water.

We, Our or Us means Certain Underwriters at Lloyd‟s.

Wrongful Act means any actual or alleged act, error, omission, mis-statement, misleading statement, misleading conduct, neglect or breach of duty (excluding an Employment practice liability) made, committed, by any Insured Director.

All related or continuous or repeated Wrongful acts shall be deemed to be one Wrongful act for the purpose of the cover provided by The Policy.

Words with Special Meanings

Words that begin with a capital letter have a special meaning when Used in the Policy. For the purposes of this Policy the following important definitions apply:



Insured means the Insured as specified in the Policy Certificate.

Insured Event means an event as defined and described in the Policy Wording.

Insured Person(s) means the person(s) named in the Policy Certificate by You from time to time for the insurance cover selected by You and for which the premium has been paid.

Insurer is Certain Underwriters at Lloyd‟s which is authorised in Australia pursuant to the Insurance Act, 1973 (Cth).

Period of Insurance means the period stated in the Policy Certificate or such lesser period if this Policy is cancelled. In such circumstances, the Period of Insurance shall end at the effective date of cancellation.

You or Your means the Person(s) named in the Policy Certificate as the Insured and includes the Insured Person(s) in connection with:

(a) the circumstances in which entitlements to benefits arise (including the application of any exclusions);

(b) the general conditions and limitations; and

(c) notification and disclosure obligations.

2 General Exclusions - Applicable to all Sections of the Policy

A. Asbestos

This Policy only insures asbestos physically incorporated in an insured building or structure, and then only that part of the asbestos which has been physically damaged during the period of insurance by one of these Listed Perils: fire; explosion; lightning; windstorm; hail; direct impact of vehicle, aircraft or vessel; riot or civil commotion, vandalism or malicious mischief; or accidental discharge of fire protective equipment.

This coverage is subject to each of the following specific limitations:

(a) The said building or structure must be insured under this Policy for damage by that Listed Peril.

(b) The Listed Peril must be the immediate, sole cause of the damage of the asbestos.

(c) The Insured must report to Insurers the existence and cost of the damage as soon as practicable after the Listed Peril first damaged the asbestos. However, this Policy does not insure any such damage first reported to the Underwriters more than 12 (twelve) months after the expiration, or termination, of the period of insurance.

(d) Insurance under this Policy in respect of asbestos shall not include any sum relating to:

(i) any faults in the design, manufacture or installation of the asbestos;

(ii) asbestos not physically damaged by the Listed Peril including any governmental or regulatory authority direction or request of whatsoever nature relating to undamaged asbestos.

(e) Confiscation, requisition, or destruction of or damage to property by order of government or local authority unless the order is given for the purpose of controlling fire or other peril for which insurance is provided by this Policy.



B. Intentional/Wilful Damage / Fraud

If any Loss or claim under this Policy is in any respect fraudulent or if any fraudulent means or devices are used to obtain any benefit under this Policy, or if any loss, destruction or damage be occasioned by wilful act or with Your connivance, all benefit under this Policy shall be forfeited.

(a) Pollution Loss, damage, cost, expense, Personal Injury or Property Damage directly or indirectly arising out of:

(i) Pollutants directly or indirectly caused by or contributed to by or arising from the discharge, dispersal, release or escape of smoke, vapours, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants contaminants or Pollutants into or upon land the atmosphere or any watercourse or body of water.

C. Unoccupancy

If Your Buildings have not been or will not be occupied for any period in excess of 60 consecutive days, We will not pay for Damage to Property Insured caused by Section One - Material Damage unless You have Our prior agreement in writing and have paid any additional premium We may require.

D. Waiver of Subrogation Rights

We may not be liable to pay any benefits under this Policy for loss, Injury, Damage or liability if You agree or have agreed to limit or exclude any right of recovery against any third party who would be liable to compensate You with respect to that loss, Injury or Illness, Damage or liability however: (i) We shall waive any rights and remedies or relief to which We are or may become

entitled under subrogation against:

(A) any co-insured (including directors, officers and employees);

(B) any corporation or entity (including its directors, officers and employees) owned or controlled by any Insured or against any co-owner of the Property Insured.

(ii) You may without prejudicing Your position under this Policy:

(A) release any statutory government, statutory authority or municipal authority from any liability if required by contract to do so;

(B) agree to enter into a contract for storage of goods or merchandise if the terms of the contract include a disclaimer clause;

(C) agree to enter into a lease for occupancy of any building or part of a building or a lease or hiring of property where the terms of the lease or hiring include a disclaimer clause in favour of the lessor or the owner.

(iii) The cost of removing, monitoring, testing, containing, treating, detoxifying, neutralizing, nullifying or cleaning up smoke, vapours, soot, mould, fungus, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or Pollutants discharged, dispersed, released or escaped into or upon land, the atmosphere or any watercourse or body of water;

(iv) Fines, penalties, punitive, exemplary or multiple damages relating to the circumstances detailed in (a) above.

(v) The cost of preventing the escape of Pollutants.



E. Radioactive Contamination and Explosive Nuclear Assemblies Exclusion Clause

This Policy does not cover (i) Loss or destruction of or damage to any property whatsoever or any loss or

expense whatsoever resulting or arising therefrom or any consequential loss

(i) Any legal liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from:

(A) ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel

(B) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.

F. Nuclear/Chemical/Biological Terrorism Exclusion

It is agreed that, regardless of any contributory cause(s), this insurance does not cover any claim(s) in any way caused or contributed to by an act of terrorism involving the use or release or the threat thereof of any nuclear weapon or device or chemical or biological agent.

For the purpose of this exclusion an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or ethnic purposes or reasons including the intention to influence any government and/or to put the public, or any section of the public, in fear.

If the Underwriters allege that by reason of this exclusion any claim is not covered by this insurance the burden of proving the contrary shall be upon the Insured.

G. Nuclear Risks Exclusion

This Policy does not cover: (i) loss of or destruction of or damage to any property whatsoever or any loss or

expense whatsoever resulting or arising therefrom or any consequential loss

(vi) any legal liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from:

(vii) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof;

(viii) ionizing radiations or contamination by radioactivity from, or the toxic, explosive or other hazardous properties of, any other radioactive source whatsoever.

H. Terrorism

Except as otherwise provided in the Terrorism Insurance Act 2003, we will not cover: (ii) personal injury, damage to property, legal liability, loss, damage, cost or expense

of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the personal injury, damage to property, legal liability, loss, damage, cost or expense;

(ix) personal injury, damage to property, legal liability, loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism.



The Insurers have treated this Insurance (or part of it) as an Insurance to which the Australia Terrorism Insurance Act 2003 (ATIA) applies.

ATIA and the supporting regulations made under the Act deem cover into certain policies and provide that the Terrorism exclusion to which this Insurance is subject shall not apply to any “eligible terrorism loss” as defined in ATIA.

Any coverage established by ATIA is only in respect of any “eligible terrorism loss” resulting from a “terrorist act” which is a “declared terrorist incident" as defined in ATIA. The Terrorism exclusion to which this Insurance is subject applies in full force and effect to any other loss and any act or event that is not a "declared terrorist incident".

All other terms, conditions, insured coverage and exclusions of this Insurance including applicable limits and deductibles remain unchanged.

If any or all of the Insurers have reinsured this Insurance with the Australian Reinsurance Pool Corporation, then any such Insurers will not be liable for any amounts for which they are not responsible under the terms of ATIA due to the application of a “reduction percentage” as defined in ATIA which results in a cap on the Insurer‟s liability for payment for “eligible terrorism losses”.

I. War and Civil War Exclusion Clause

Notwithstanding anything to the contrary contained herein this Policy does not cover Loss or Damage directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority.

J. Date Recognition

(i) Damage directly or indirectly caused by, consisting of, or arising from, the failure of any computer, data processing equipment, media microchip, operating systems, microprocessors (computer chip), integrated circuit or similar device, or any computer software, whether Your property or not, and whether occurring before, during or after the year 2000 that results from the inability to:

(ii) Correctly recognise any date as its true calendar date:

(A) Capture, save, or retain, and/or correctly manipulate, interpret or process any data or information or command or instruction as a result of treating any date other than its true calendar date; and/or

(B) Capture, save, retain or correctly process any data as a result of the operation of any command which has been programmed into any computer software, being a command which causes the loss of data or the inability to capture, save, retain, or correctly process such data on or after any date.

(iii) The repair or modification of any part of an electronic data processing system or its related equipment, to correct deficiencies or features of logic or operation.

(iv) The damage or Consequential Loss arising from the failure, inadequacy, or malfunction of any advice, consultation, design evaluation, inspection, installation, maintenance, repair or supervision done by You or for You or by or for others to determine, rectify or test, any potential or actual failure, malfunction or inadequacy described in (a) above.



Such damage or Consequential Loss described in (a), (b) or (c) above, is excluded regardless of any other cause that contributed concurrently or in any other sequence.

This Section shall not exclude subsequent damage, not otherwise excluded, which itself results from a Defined Peril.

Defined Peril shall mean fire, lightning, explosion, aircraft or vehicle impact, falling objects, windstorm, hail, tornado, hurricane, cyclone, riot, strike, civil commotion, vandalism, malicious mischief, earthquake, volcano, tsunami, freeze or weight of snow.

3 General Conditions - Applicable to all Sections of the Policy

(a) Actions of Parties other than You

The acts or omissions of:

(i) a tenant of Yours; or

(ii) the owner of, or another tenant in, the Building,

which breach any provision of this Policy will not affect Your entitlement to cover provided that:

(A) the act or omission was committed without Your prior knowledge or complicity; and

(B) You notify Us of the happening or existence of the act or omission as soon as You become aware of it; and

(C) You pay any reasonable extra premium which We require.

(b) Cooling Off and Cancellation Rights under the Policy

(i) You may cancel and return this Policy at any time by notifying Us in writing.

(ii) We have the right to cancel this Policy where permitted by law. For example, We can cancel:

(A) if You failed to comply with Your duty of disclosure; or

(B) where You have made a misrepresentation to Us during negotiations prior to the issue of this Policy; or

(C) where You have failed to comply with a provision of Your Policy, including the term relating to payment or premium; or

(D) where You have made a fraudulent claim under Your Policy or under some other contract of insurance that provides cover during the same period of time that Our Policy covers You; or

(E) where We agree to accept payment of premium by periodic instalment and at least one instalment remains unpaid in excess of one month from the date on which it was due and payable;

(iii) If You or We cancel the Policy We may deduct a pro rata proportion of the premium for time on risk, reasonable administrative costs related to the acquisition and termination of the Policy and any government taxes or duties We cannot recover;



(iv) In the event that You have made a claim under this Policy and We have agreed to pay the full Sum Insured for Your Property Insured, no return of premium will be made for any unused portion of the premium for the Sections under which the full Sum Insured has been paid.

(c) Governing Law and Jurisdiction

This Policy is governed by the laws of Australia. Any dispute relating to this Policy shall be submitted to the exclusive jurisdiction of an Australian Court within the State or Territory in which the Policy was issued.

(d) GST Notice

This Policy has a GST provision in relation to premium and Our payment to You for claims. It may have an impact on how You determine the amount of insurance You need. Please read it carefully. Seek professional advice if You have any queries about GST and Your insurance.

(e) Sums Insured

All monetary limits in this Policy may be increased for GST in some circumstances (see below).

(f) Claim Settlements – Where We agree to Pay

When We calculate the amount We will pay You, We will have regard to the items below:

(i) Where You are liable to pay an amount for GST in respect of an acquisition relevant to Your claim (such as services to repair a Damaged item insured under the Policy) We will pay the GST amount.

(ii) We will pay the GST amount in addition to the Sum Insured or Limit of Indemnity or other limits shown in the Policy or in the Certificate.

(iii) If Your Sum Insured or Limit of Indemnity is not sufficient to cover Your loss, We will only pay the GST amount that relates to Our settlement of Your claim. We will reduce the GST amount We pay by the amount of any input tax credits to which You are or would be entitled.

(iv) Where We make a payment under this Policy as compensation instead of payment for a relevant acquisition, We will reduce the amount of the payment by the amount of any input tax credit that You would have been entitled to had the payment been applied to a relevant acquisition.

(v) Where the Policy insured business interruption, We will (where relevant) pay You on Your claim by reference to the GST exclusive amount of any supply made by Your Business that is relevant to Your claim.

(g) Disclosure – Input Tax Credit entitlement

If You register, or are registered, for GST You are required to tell Us Your entitlement to an input tax credit on Your premium. If You fail to disclose or You understate Your entitlement, You may be liable for GST on a claim We may pay. This Policy does not cover You for this GST liability, or for any fine, penalty or charge for which You may be liable.

(h) Interests of other Parties

(i) The insurable interest of only those lessors, financiers, trustees, mortgagees, owners and all other parties having a legal interest or charge over the Property



Insured and who are specifically noted in Your records, shall be automatically included as third party beneficiaries without notification or specification. The nature and extent of such interest is to be disclosed to Us in the event of Damage. Any other people not in this category or not named on the Certificate are not covered and cannot make a claim. All third party beneficiaries must comply with the terms and conditions of the Policy.

(ii) Where the protection provided by this Policy covers the interests of more than one party, any act or omission of an individual party will not prejudice the rights of the remaining parties:

(A) subject to General Exclusion (C) Intentional/Wilful Damage/Fraud; and

(B) provided the remaining parties must, immediately on becoming aware of any act or omission that increases the risk of loss, Damage or Injury or liability, give notice in writing to Us and on demand pay any reasonable additional premium We may require.

(i) One Event for Earthquake

Only for the purpose of the application of any Excess, all Damage resulting from earthquake occurring during each period of 72 consecutive hours will be considered as one event, whether the earthquake is continuous or sporadic in its sweep and/or scope and the Damage was due to the same seismological conditions. Each event will be considered to have commenced on the first happening of Damage, not within the period of any previous event.

(j) Reinstatement of Sum Insured

In the event of Damage insured under Section One – Material Damage, Section Two – Business Interruption, the amount by which the Sum insured is reduced as a consequence of the loss or Damage will be automatically reinstated from the date of loss or Damage provided that:

(i) there is no written request from You or written notice by Us to the contrary;

(ii) the Section is an operative Section of the Policy; and

(iii) You pay the premium which We require for the reinstatement.

We will not reinstate the Sum Insured on Section One – Material Damage or Section Two – Business Interruption if We have paid a total loss under either of these Sections.

(k) Your Representative – Authorisation

By entering into this Policy, You agree that the person representing You when applying for this insurance is authorised to give and receive information on Your behalf in relation to all matters arising under this Policy and in accordance with the Insurance Contracts Act 1984.

If You do not meet the following conditions, We may cancel the Policy and/or reduce or refuse to pay a claim.

(l) Alteration to Risk

If You become aware of any changes to the facts or circumstances which existed when this insurance commenced that change the nature of the risk (for example, the nature of Your Business, or other circumstances that affect the Situation or Property Insured) in a way that would increase the risk of loss or Damage You must notify Us in writing. If We



agree to the change We will do so in writing and You must pay Us any additional premium We require.

(m) Non Payment of Premium by Instalments – Right to Refuse a Claim

Where You pay Your premium by instalments, You must ensure that they are paid on time because if an instalment has remained unpaid for a period of at least 14 days. We may refuse to pay a claim. We will notify you if an instalment has not been paid.

(n) Other Insurance

You must give Us written notice of any insurance already effected, or which may be substantially effected covering, whether in whole or in part, the subject matter of the various Sections of this Policy.

(o) Reasonable Care and Maintenance

You must take all reasonable care:

(i) to prevent Injury, loss, Damage or legal liability;

(ii) to maintain the Property Insured and Premises in sound condition, in particular to minimise or avoid theft, loss, Damage or liability;

(iii) to comply with all statutory obligations, by-laws, regulations, public authority requirements and safety requirements;

(iv) to minimise any loss or Damage; and

(v) to only employ competent employees and ensure they adhere to the requirements specified in (a) – (d) above.

(p) Storage of Hazardous Goods

Hazardous goods stored at the Premises by any person as part of that person‟s business must be stored in quantities and in a manner permitted by relevant laws or regulations.

(q) Unoccupancy

If Your Buildings have not been or will not be occupied for any period in excess of 60 consecutive days, We will not pay for Damage to Property Insured caused by Section One - Material Damage unless You have Our prior agreement in writing and have paid any additional premium We may require.

(r) Waiver of Subrogation Rights

We may not be liable to pay any benefits under this Policy for loss, Injury, Damage or liability if You agree or have agreed to limit or exclude any right of recovery against any third party who would be liable to compensate You with respect to that loss, Injury or Illness, Damage or liability however:

(i) We shall waive any rights and remedies or relief to which We are or may become entitled under subrogation against:

(A) any co-insured (including directors, officers and employees);

(B) any corporation or entity (including its directors, officers and employees) owned or controlled by any Insured or against any co-owner of the Property Insured.



(ii) You may without prejudicing Your position under this Policy:

(A) release any statutory government, statutory authority or municipal authority from any liability if required by contract to do so;

(B) agree to enter into a contract for storage of goods or merchandise if the terms of the contract include a disclaimer clause;

(C) agree to enter into a lease for occupancy of any building or part of a building or a lease or hiring of property where the terms of the lease or hiring include a disclaimer clause in favour of the lessor or the owner.

(iii) The cost of removing, monitoring, testing, containing, treating, detoxifying, neutralizing, nullifying or cleaning up smoke, vapours, soot, mould, fungus, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or Pollutants discharged, dispersed, released or escaped into or upon land, the atmosphere or any watercourse or body of water;

(iv) Fines, penalties, punitive, exemplary or multiple damages relating to the circumstances detailed in (a) above.

(v) The cost of preventing the escape of Pollutants.

(s) Radioactive Contamination and Explosive Nuclear Assemblies Exclusion Clause

This Policy does not cover

(i) Loss or destruction of or damage to any property whatsoever or any loss or expense whatsoever resulting or arising therefrom or any consequential loss

(ii) Any legal liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from:

(A) ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel

(B) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof.

(t) Nuclear/Chemical/Biological Terrorism Exclusion

It is agreed that, regardless of any contributory cause(s), this insurance does not cover any claim(s) in any way caused or contributed to by an act of terrorism involving the use or release or the threat thereof of any nuclear weapon or device or chemical or biological agent.

For the purpose of this exclusion an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or ethnic purposes or reasons including the intention to influence any government and/or to put the public, or any section of the public, in fear.

If the Underwriters allege that by reason of this exclusion any claim is not covered by this insurance the burden of proving the contrary shall be upon the Insured.

(u) Nuclear Risks Exclusion

This Policy does not cover:



(i) loss of or destruction of or damage to any property whatsoever or any loss or expense whatsoever resulting or arising therefrom or any consequential loss

(ii) any legal liability of whatsoever nature directly or indirectly caused by or contributed to by or arising from:

(iii) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof;

(iv) ionizing radiations or contamination by radioactivity from, or the toxic, explosive or other hazardous properties of, any other radioactive source whatsoever.

(v) Terrorism

Except as otherwise provided in the Terrorism Insurance Act 2003, we will not cover:

(i) personal injury, damage to property, legal liability, loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the personal injury, damage to property, legal liability, loss, damage, cost or expense;

(ii) personal injury, damage to property, legal liability, loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism.

The Insurers have treated this Insurance (or part of it) as an Insurance to which the Australia Terrorism Insurance Act 2003 (ATIA) applies.

ATIA and the supporting regulations made under the Act deem cover into certain policies and provide that the Terrorism exclusion to which this Insurance is subject shall not apply to any “eligible terrorism loss” as defined in ATIA.

Any coverage established by ATIA is only in respect of any “eligible terrorism loss” resulting from a “terrorist act” which is a “declared terrorist incident" as defined in ATIA. The Terrorism exclusion to which this Insurance is subject applies in full force and effect to any other loss and any act or event that is not a "declared terrorist incident".

All other terms, conditions, insured coverage and exclusions of this Insurance including applicable limits and deductibles remain unchanged.

If any or all of the Insurers have reinsured this Insurance with the Australian Reinsurance Pool Corporation, then any such Insurers will not be liable for any amounts for which they are not responsible under the terms of ATIA due to the application of a “reduction percentage” as defined in ATIA which results in a cap on the Insurer‟s liability for payment for “eligible terrorism losses”.

(w) War and Civil War Exclusion Clause

Notwithstanding anything to the contrary contained herein this Policy does not cover Loss or Damage directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority.



(x) Date Recognition

(i) Damage directly or indirectly caused by, consisting of, or arising from, the failure of any computer, data processing equipment, media microchip, operating systems, microprocessors (computer chip), integrated circuit or similar device, or any computer software, whether Your property or not, and whether occurring before, during or after the year 2000 that results from the inability to:

(A) Correctly recognise any date as its true calendar date;.

(B) Capture, save, or retain, and/or correctly manipulate, interpret or process any data or information or command or instruction as a result of treating any date other than its true calendar date; and/or

(C) Capture, save, retain or correctly process any data as a result of the operation of any command which has been programmed into any computer software, being a command which causes the loss of data or the inability to capture, save, retain, or correctly process such data on or after any date.

(ii) The repair or modification of any part of an electronic data processing system or its related equipment, to correct deficiencies or features of logic or operation.

(iii) The damage or Consequential Loss arising from the failure, inadequacy, or malfunction of any advice, consultation, design evaluation, inspection, installation, maintenance, repair or supervision done by You or for You or by or for others to determine, rectify or test, any potential or actual failure, malfunction or inadequacy described in (a) above.

Such damage or Consequential Loss described in (a), (b) or (c) above, is excluded regardless of any other cause that contributed concurrently or in any other sequence.

This Section shall not exclude subsequent damage, not otherwise excluded, which itself results from a Defined Peril.

Defined Peril shall mean fire, lightning, explosion, aircraft or vehicle impact, falling objects, windstorm, hail, tornado, hurricane, cyclone, riot, strike, civil commotion, vandalism, malicious mischief, earthquake, volcano, tsunami, freeze or weight of snow.

4. Additional Limitations And Conditions Endorsement – Applicable to Sections 1 & 2 of the Policy

THIS ENDORSEMENT CONTAINS PROVISIONS IN CLAUSES II, V AND VI THAT MAY LIMIT OR

PREVENT RECOVERY UNDER THIS POLICY FOR DEBRIS REMOVAL (AS PROVIDED IN CLAUSE

II) AND/OR RESULTING LOSS (AS PROVIDED IN CLAUSE V).

I. LAND, WATER AND AIR EXCLUSION CLAUSE

Notwithstanding any provision to the contrary within the Policy of which this Endorsement forms part (or

within any other Endorsement which forms part of this Policy), this Policy does not insure land (including

but not limited to land on which the insured property is located), water or air, howsoever and wherever

occurring, or any interest or right therein. The foregoing exclusion shall not apply to water which is

contained in plumbing or firefighting installations in the Assured's buildings at the time of any damage

insured by this Policy.



II. DEBRIS REMOVAL CLAUSE

Nothing contained in this Clause shall override any seepage and/or pollution and/or contamination

exclusion or any radioactive contamination exclusion or any other exclusion applicable to this Policy.

The inclusion of this Clause shall in no event increase the Limit of Liability of Underwriters under this

Policy or any other endorsement applicable to this Policy.

Any provision within this Policy (or within any other Endorsement which forms part of this Policy) which

insures debris removal is cancelled and replaced by the following:

1. In the event of direct physical damage to property, for which Underwriters agree to pay

hereunder, or which but for the application of a deductible or underlying amount they would

agree to pay (hereinafter in this Clause referred to as "Damage"), this Policy also insures,

subject to the limitations below and method of calculation in Clause VI of this Endorsement and

to all the other terms and conditions of the Policy, expense:

(a) which is reasonably and necessarily incurred by the Assured in the removal, from the

premises of the Assured at which the Damage occurred, of debris which results from the

Damage; and

(b) of which the Assured becomes aware and advises the amount to Underwriters hereon

within one year of the commencement of the Damage;

provided however, that nothing in this Clause shall insure any expense provided under Clause V

of this Endorsement.

2. The maximum amount of expense for removal of debris (subject to the limitations of paragraph 1

above) that can be included in the method of calculation in Clause VI of this Endorsement, shall

be the greater of $20,000 (twenty thousand dollars, or the equivalent in local currency) or 10%

(ten per cent) of the amount of the Damage from which expense results.

III. SEEPAGE AND/OR POLLUTION AND/OR CONTAMINATION EXCLUSION CLAUSE

Notwithstanding any provision to the contrary within the Policy of which this Endorsement forms part (or

within any other Endorsement which forms part of this Policy), this Policy does not insure:

1. any loss, damage, cost or expense; or

2. any increase in insured loss, damage, cost or expense; or

3. any loss, damage, cost, expense, fine, penalty or other sum which is incurred, sustained or

imposed by, or by the threat of, any judgement, order, direction, instruction or request of, or any

agreement with, any court, government agency, any public, civil or military authority or any other

person (and whether or not as a result of public or private litigation);

which arises from any kind of seepage or any kind of pollution and/or contamination, or threat thereof,

whether or not caused by or resulting from a peril insured, or from steps or measures taken in connection

with the avoidance, prevention, abatement, mitigation, remediation, clean-up or removal of such seepage

or pollution and/or contamination, or threat thereof.

The term "any kind of seepage or any kind of pollution and/or contamination" as used in this

Endorsement includes (but is not limited to):

1. seepage of or pollution and/or contamination by anything, including but not limited to that which is

designated by any governmental, public or regulatory body or authority as toxic, hazardous,

dangerous or deleterious to persons, property or the environment under any law, ordinance,

regulation or decree;



2. the presence, existence, or release of anything which endangers or threatens to endanger the

health, safety or welfare of persons or the environment.

IV. LISTED PERILS RESULTING FROM SEEPAGE AND/OR POLLUTION AND/OR CONTAMINATION CLAUSE

This Policy is amended as set forth below. All other terms and conditions of this Policy remain

unchanged and continue to apply with full force and effect. Nothing contained in this Clause shall

override any radioactive contamination exclusion applicable to this Policy. If any of the perils listed below

results from seepage and/or pollution and/or contamination, then such resultant perils shall not be

excluded solely by the foregoing Seepage and/or Pollution and/or Contamination Exclusion Clause:

Listed Perils;

Fire;

Explosion.

Nothing in this Clause, however, shall extend this Policy to insure:

1. loss, damage, cost, expense, fine or penalty, or other sum arising from any kind of seepage or

any kind of pollution and/or contamination that causes or results from a listed peril; or

2. loss or damage at any premises other than the premises where the listed peril took place; or

3. property and/or interests other than those insured by this Policy against the listed perils.

V. LIMITED SEEPAGE AND/OR POLLUTION AND/OR CONTAMINATION RESULTING FROM PHYSICAL DAMAGE CAUSED BY LISTED PERILS CLAUSE

THIS CLAUSE IS VOID AND OF NO FORCE OR EFFECT UNLESS AN AMOUNT IS SPECIFIED IN

PARAGRAPH 2) BELOW.

This Policy is amended as set forth below. All other terms and conditions of this Policy remain

unchanged and continue to apply with full force and effect. Nothing contained in this Clause shall

override any radioactive contamination exclusion or, except as set forth herein, the foregoing Seepage

and/or Pollution and/or Contamination Exclusion Clause. The inclusion of this Clause shall in no event

increase the Limit of Liability of Underwriters under this Policy or any other endorsement applicable to

this Policy.

1. If,

(a) any of the perils listed below is the sole, immediate and direct cause of physical damage

to property insured by this Policy against such listed peril (hereinafter in this Clause

referred to as "Original Damage"); and

(b) the Original Damage is the sole, immediate and direct cause of seepage onto, and/or

pollution and/or contamination of property which is:

(i) at the same premises as the Original Damage; and

(ii) insured by this Policy against the listed peril causing the Original Damage; and

(c) said property is damaged thereby (hereinafter in this Clause referred to as "Resulting

Damage");



then this Policy, subject to the following additional terms and limitations and the method of

calculation in Clause VI of this Endorsement, also insures:

(d) the Resulting Damage; and

(e) the reasonable and necessary expense incurred by the Assured for debris removal

and/or clean up which is:

(i) limited to the same premises as the Original Damage; and (ii) made necessary solely by the Resulting Damage;

but which shall in no event include any expense of clean up or removal of land, water or air,

(which Resulting Damage and expense of debris removal and/or clean up, hereinafter in this

Clause are referred to as "Resulting Loss");

provided, however, that this Policy only insures the Resulting Loss where:

(f) Underwriters have agreed to pay for the Original Damage or, but for the operation of a

deductible or underlying amount, would have agreed to pay for the Original Damage;

and

(g) within one year of the commencement of the listed peril which caused the Original

Damage, the Assured became aware and advised Underwriters of the amount of:

(i) the Resulting Loss; and

(ii) any other interest to be claimed under this Policy as a result of the Resulting

Damage, whether physical damage, business interruption, extra expense or

otherwise.

Listed Perils; Fire, Lightning; Explosion. Nothing in this Clause, however, shall extend this Policy to cover any condition that existed prior

to the Original Damage nor to insure any loss, damage, cost, expense, fine, penalty, or other

sum which is incurred, sustained or imposed by, or by the threat of, any judgement, order,

direction, instruction or request of, or any agreement with, any court, government agency, any

public, civil or military authority or any other person (and whether or not as a result of public or

private litigation) in connection with any kind of seepage or any kind of pollution and/or

contamination from any cause.

2. The maximum amount for any Resulting Loss and any other interest claimed under this Policy as

a result of the Resulting Damage, whether physical damage, business interruption, extra

expense or otherwise, that can be included in the method of calculation in Clause VI of this

Endorsement is $20,000 (twenty thousand dollars, or the equivalent in local currency).

VI. METHOD OF CALCULATION

In calculating the amount, if any, payable under this Policy for a claim including expense of debris

removal (as provided for and limited in Clause II of this Endorsement) and/or Resulting Loss (as provided

for and limited in Clause V of this Endorsement), the amount of such expense of debris removal and/or

such Resulting Loss shall be added to:



(a) the amount of the Damage (as defined in Clause II) or the amount of the Original

Damage (as defined in Clause V); and

(b) all other amounts, if any, insured under this Policy as a result of the same occurrence

that Underwriters hereon agree to pay or, but for the application of a deductible or

underlying amount, they would agree to pay;

then the resulting sum shall be the amount of which first all deductibles and then any underlying

amounts to which this Policy is subject shall be applied and then balance, if any, shall be the

amount payable, subject to all other provisions of this Policy and to the applicable limit(s), sub-

limit(s) and aggregate limit(s).

5 Claims Conditions

(a) Notification (i) You must, at Your own expense:

(A) notify Us of any Claim as soon as possible by telephone (followed up by a written notice as permitted by this clause), letter, facsimile or email; and

(B) provide Us with details of any other liability insurance effected by You or on Your behalf which may cover that Claim.

(ii) All Claim notifications are to be made to the Claims Manager of Our Agent, whose address is as follows:

Locked Bag 32012, Collins St East, VIC 8003 Phone: (03) 9660 5200 Fax: 1300858329 Or email: [email protected]

(b) Conduct

(i) If under this Policy You are entitled to indemnity for a Claim, then We are entitled to take over and conduct, in Your name and on Your behalf, the defence and settlement of that Claim. If We exercise this entitlement in relation to a Claim, then We have sole and complete discretion in the conduct of its defence and settlement.

(ii) If We believe that the amount claimed under any Claim will not exceed Your Excess We may instruct You to conduct the defence of the Claim.

(iii) You agree not to settle any Claim, incur any Costs and Expenses, make any admission, offer, promise or payment or otherwise agree to any contractual obligation with respect to any Claim without Our written consent.

(iv) You must, at Your own expense, give Us all the information and assistance We may reasonably require in relation to a Claim, including its investigation, defence and/or settlement (and may include Your giving evidence in any legal proceedings).

(c) Discharge Payment

(i) We may at any time pay to You or on Your behalf in relation to a Claim:

(A) the Limit of Indemnity or any applicable Sub-Limit, after deduction of the amount of the Excess and any sum or sums already paid by Us or agreed to be paid by Us as at the date We decide to make a payment under this clause; or




(B) the amount of the Claim; or

(C) any sum for which the Claim may be settled,

whichever is lower.

(ii) Upon such payment, We will relinquish conduct of the defence of the Claim and will be under no further liability under this Policy in connection with such Claim including but not limited to Costs and Expenses.

(d) Subrogation

We may prosecute and settle in Your name rights or claims You may have against other persons for loss arising out of a Claim and We will have sole and complete discretion in doing so. You must execute and deliver all instruments and papers and do everything necessary to secure and preserve such rights or claims and to assist Us to prosecute and settle those rights or claims in Your name.

(e) Multiple Claims

(i) All Claims made against You arising from causally connected or interrelated events, occurrences, acts or omissions shall be deemed to be a single Claim for the purpose of this Policy.

(ii) If multiple Claims are deemed to be a single Claim under sub-clause (i), and any one of the Claims is made against You in the context of a Class Action, then the deemed single Claim will also be deemed to be made in the context of a Class Action.

(f) Limit of Indemnity and Sub-Limits

(i) If You are entitled to indemnity under this Policy for a Claim, We will only indemnify You for that Claim (including any payment of Costs and Expenses) up to:

(A) the amount of the Limit of Indemnity; or

(B) any applicable Sub-Limit as provided for in any condition, exclusion or definition contained within the terms of this Policy,

minus the amount of the Excess.

(ii) Our maximum aggregate liability under this Policy is the amount of the Limit of Indemnity. Once We have paid the Limit of Indemnity, We shall have no further liability to any of You under this Policy.

(g) Excess

If You are entitled to indemnity under this Policy for a Claim:

(i) You must pay the Excess to Us within 14 days of a request by Us for You to do so; and

(ii) if You have not paid the Excess, We may deduct the amount of the Excess from any payment made pursuant to Your entitlement under this Policy.



(h) GST

(i) Where payment is made under this Policy for the acquisition of goods, services or other things, We will reduce the amount of payment by the amount of any input tax credit that You are, or will be, entitled to under the GST Act in relation to that acquisition.

(ii) Where payment is made under this Policy as compensation instead of payment for the acquisition of goods, services or other things, We will reduce the amount of the payment by the amount of any input tax credit that You would have been entitled to under the GST Act had the payment been applied to acquire such goods, services or other things.

(iii) The Limit of Indemnity, Sub-Limits or any amounts indicated in this Policy are inclusive of Goods and Services Tax (GST).



Section 1

Material Damage



Section 1 - Material Damage

Material Damage: The Insurer will indemnify You for sudden and unforeseen physical loss or damage, occurring to any of the Insured Property during the Period of Insurance.

Indemnity: At the Insurer‟s option, You will be indemnified by payment, by repair, or by replacement of the lost or damaged Insured Property and by payment of any insured costs.

Subject to the “Reinstatement of Amount of Insurance” condition of this Policy, the Insurer‟s liability will not exceed the Sum Insured; and if more than one item is included in the Policy Certificate, will not exceed in respect of each item the Sum Insured applicable to that item.

Additional Extensions Applicable to Section 1 Only

1. Burglary/Theft

This Policy is extended to cover burglary and/or theft of Insured Property, provided that this extension does not extend to cover:

(a) Shoplifting; or

(b) The Insured voluntarily parting with title or possession if induced to do so by any fraudulent scheme, trick or false pretence.

In respect of any one event the Insurer‟s liability under this extension is limited to the Sum Insured stated in the Policy Certificate.

2. Capital Additions

This Policy is intended to cover additions to Your building, contents and specified items obtained or built during the period of cover to an amount not exceeding 20% of the total Sum Insured of buildings, contents and specified items or $500,000 whichever is the lesser, in respect of property insured at any one location. This additional benefit is in addition to Your Sum insured.

3. Costs of Tracing Source of Water Damage

This Policy is extended to cover costs necessarily incurred in locating the source of water damage if the loss or damage is caused by water bursting or leaking from pipes, water mains, tanks or drains. The Insurer‟s liability under this extension is limited to $50,000 any one Occurrence and in the annual aggregate. Further, the Insurer will not pay for the loss of or damage to the pipes, water mains, tanks or drains unless damaged by an insured event.

4. Employees’ Effects

This Policy is extended to insure the personal effects of Your Insured Directors and Employees, but only whilst the effects are at premises owned or occupied by You or elsewhere whilst being worn, kept, carried or Used by the Insured Directors or Employees acting in the course of their duties of employment. The effects are deemed to be included in the description of Contents of Buildings as if they Were owned by You.

Unless You are responsible for the loss or damage, this extension of cover does not apply to loss or damage to the personal effects of any Insured Director or Employee who is entitled to indemnity for that loss or damage under any other policy of insurance. In respect of any one event the Insurer‟s liability under this extension to any one Insured Director or Employee is limited to $10,000, unless otherwise stated in the Policy Certificate.



5. Employee Dishonesty

This Policy covers the theft of Your property or money by any of Your employees either acting alone or in collusion with any others.

You can claim for loss of property or money following an act of employee dishonesty under this Additional Benefit if;

(a) The loss occurs within Australia or its external territories;

(b) The loss is not excluded pursuant to the terms of this Policy; and

If We agree to pay a claim for the above event, We will also pay for the following:

(a) Auditors costs

We will reimburse You for fees payable by You to external auditors if they are reasonably and necessarily incurred to substantiate the claim.

We will not pay more than $5,000 for each event.

(b) Costs of Recovery

If You sustain a loss greater than the insured amount shown in the Policy Certificate, We will pay for costs and expenses that You have reasonably incurred in an attempt to recover the lost property or money.

We will not pay more than an additional 20% of the insured amount shown in the Policy Certificate.

(c) Unidentifiable Employee

If You suffer any loss of property or money as a direct result of employee dishonesty in the period of insurance but are unable to identify the specific employee whose conduct has given rise to the loss, We will pay for the loss provided that You can satisfactorily demonstrate that the loss was caused by the dishonest conduct of one or more employees.

(d) Retroactive Cover

If this Policy replaces any previous policy of Employee Dishonesty insurance carried by You that is terminated, cancelled or allowed to expire at the time of the replacement, We will cover any loss that is within the time limitations provided that;

(i) the loss would have been recoverable by You under the previous policy except for the fact that the time within which to discover any loss had expired;

(ii) the cover We provide is limited to the insured amount shown in the Policy Certificate;

(iii) the loss would have been covered under this section if this section had been in force when the acts or defaults causing the loss were committed;

(iv) recovery under this section for the loss will not exceed the amount that would;

(A) be recoverable under this section had those acts or defaults been committed immediately before discovery.

(B) have been recoverable under the previous policy had it continued in force until the discovery of the loss; whichever is the lesser.

We will not pay more than $30,000 for any one loss or any one period of insurance.



6. Equipment Breakdown

The Insurer will, subject to the terms, conditions and exclusions applicable to the Policy, indemnify You against loss caused by or resulting from an Accident to an Object which is in Use or connected and ready for Use at the Premises.

6.1 The Insurer’s Liability for loss to Insured Property which is Damaged is as follows:

(a) On Media and Electronic Data for electronic and electro mechanical data processing and production equipment, the cost of blank material plus the cost of transcription from duplicates or from originals;

(b) On exposed film, records, manuscripts, drawings and other valuable papers and records, the cost of blank material plus the cost of transcription from duplicates or from originals;

(c) On all other Insured Property, the lesser of the cost at the time of the Accident,

(i) To repair the damaged property; or

(ii) To replace the damaged property with similar property of like kind, capacity, size, quality and function.

6.2 The Insurer will not be liable for:

(a) More than the amount You actually spend.

(b) The cost of repairing or replacing any part or parts of a piece of equipment which is greater than the cost of repairing or replacing the entire piece of equipment; or

(c) Loss or damage to Insured Property which is Useless or obsolete.

If the damaged property is not repaired or replaced within twelve (12) months after the date of the Accident then the Insurer will only pay for the Actual Cash Value of the damaged property.

6.3 Additional Coverages Applicable to this cover

The following coverages also apply to loss caused by or resulting from an Accident to Insured Property. These coverages do not provide additional amounts of insurance, unless specifically stated otherwise.

(a) Deterioration of Stock

The Insurer hereby agrees:

(i) to pay You the amount of Your loss of Food and Beverage Products;

(ii) to pay the amount of loss to Food and Beverage Products of others in Your care, custody or control, and for which the You are legally liable; and

(iii) to pay that amount of expense which is reasonably incurred by You to reduce or avert such loss, but only to the extent that the total amount that otherwise would have been paid under parts a) and b) above is thereby reduced, provided such loss or expense is due to spoilage resulting solely from an Accident to an Object, which occurs while this Policy is in effect.

Accident shall mean the operation or failure to operate of any switch, thermostat, control, fuse, circuit breaker or overload device which is included in the definition of Object, but not including the manual operation or setting of such switch, thermostat, control, fuse, circuit breaker or overload device.



As soon as possible after an Accident, You shall utilise every available means to reduce the loss, including surplus machinery, duplicate parts, equipment, supplies and surplus or reserve stock, which may be owned, controlled or obtainable from other sources, all to the extent that the amount for which the Insurer would otherwise be liable under this Coverage is reduced.

The Insurer may take such means as will in the opinion of the Insurer reduce or avert the loss, in whole or in part, including the disposition of salvage of refrigerated food and beverage products. All extra expense so incurred by You as permitted above, or by You at the written direction of the Insurer or by the Insurer, shall be a part of and not in addition to the Limit of Liability specified in the Policy Certificate for this Coverage.

Exclusions applicable to the Deterioration of Stock additional coverage described at 6.3(a) above:

The Insurer shall not be liable for payment for:

(a) any loss resulting from Your failure to Use due diligence and dispatch and all reasonable means to protect the refrigerated food and beverage products from damage following the Accident;

(b) the refrigerated food and beverage products damaged or destroyed, for more than the actual cash value thereof at the time of the Accident, with proper deductions for depreciation, however caused.

The limit of the Insurer‟s liability under this Additional Coverage shall not exceed $10,000.

(b) Service Interruption

If there is an Accident to an Object not owned, leased, operated or controlled by You, You will also be indemnified under Additional Coverage

(c) Business Interruption and Additional Coverage

(d) Deterioration of Stock provided that the Accident is to an Object that:

(i) Is defined in this Automatic Extension;

(ii) Is Used to supply telephone, electricity, air conditioning, heating, gas, water or steam services to You at Your location

(iii) Is owned by the owner of the building at the premises or by a utility company; or by a company contracted to You to provide those services

(iv) And is located on or within Three Hundred (300) metres of Your premises.

(e) Hazardous Substances

If a Hazardous Substance is involved in or released by an Accident, the Insurer will be liable for the increase in cost to repair, replace, clean up or dispose of affected Insured Property.

The “increase in cost” or “increase in loss” shall mean that cost or loss beyond that which would have been incurred had no Hazardous Substance been present.

The limit of the Insurer‟s liability under this coverage shall not exceed $50,000.



(f) Expediting Cost

Under the Expediting Cost Automatic Extension, following a loss admissible under the Equipment Breakdown Automatic Extension, the limit of the Insurer‟s liability under that coverage shall not exceed $50,000 unless otherwise stated in the Policy Certificate.

(g) Temporary Hire Costs

The Insurer will pay the cost, reasonably incurred, of hiring temporary replacement equipment of similar specification during the time taken to repair the Insured Equipment as a result of an Accident.

The limit of the Insurer‟s liability under this coverage shall not exceed $10,000 unless otherwise stated in the Policy Certificate.

(h) Media and Electronic Data Restoration

If, solely as a result of an Accident to an Object, Electronic Data or Media is lost or damaged, the Insurer shall be liable for the additional costs of repairing or replacing such Electronic Data or Media, including the cost of gathering or assembling information.

The Insurer shall not be liable for loss or damage caused by or resulting from programming errors.

The limit of the Insurer‟s liability under this coverage shall not exceed $10,000 unless otherwise stated in the Policy Certificate.

(i) Demolition and Increased Cost of Construction

The Insurer shall be liable under this coverage for the increased cost of repair or replacement of damaged and/or undamaged Insured Property (including any necessary demolition and site clearing costs) occasioned by the enforcement of any law, by-law, ordinance, regulation, rule or ruling which is in force prior to the time of the Accident and which regulates or restricts the repair, replacement, construction or installation.

7. Earthquake and Cyclone

This Policy is extended to include damage caused by earthquake, cyclone, hurricane, wind storm and/or seisimolgical events subject to the Insurer‟s liability, and the relevant Excess, being limited to the Sum Insured shown in the Policy Certificate for any one event.

8. Expediting Costs

The Insurer shall not be liable for:

(a) any expense in excess of the cost at the time of the Accident to replace the said property on the same site or a site adjacent thereto with property of such kind, capacity, size, quality and function as will satisfy the minimum requirements prescribed by any law, by-law, ordinance, regulation, rule or ruling.

(b) in the event the replacement is by property of a better kind or quality or of a larger capacity or size, the liability of the Insurer shall not exceed the amount that would be paid if replacement had been made by property as would satisfy such minimum requirements.

9. Flood

This Policy is extended to include the inundation of normally dry land by water escaping from the normal confines of any natural water course or lake (whether or not altered or modified) or any dam, reservoir or canal. The Insurer‟s liability, and the relevant Excess, is limited to the sum insured shown in the Policy Certificate for any one event.



10. Fire Extinguishment

This Policy is extended to cover reasonable costs necessarily incurred by You for:

(a) Replenishment of Your fire fighting appliances;

(b) Replacement of sprinkler heads;

(c) Statutory charges payable by You to a fire brigade or fire fighting authority for attendance at a fire or chemical emergency involving Your premises;

(d) Extinguishing a fire either at Your premises or immediately adjacent to Your premises, or threatening to involve Your property.

The Insurer‟s liability under this extension is limited to $50,000 any one event.

11. Glass

This Policy is extended to cover costs of sign writing, burglar alarm tape, wiring security film or sensors on the glass, removal of frames, temporary shutting and security guards.

Insurer‟s liability under this extension is limited to replacement value for any one event.

12. Landscaping

This Policy is extended to cover the reasonable costs of landscaping at Your Premises including trees shrubs, plants and lawn following the damage.

The Insurer‟s liability for this extension is limited to $100,000 any one event.

13. Loss of Land value

This policy is extended to cover the loss of land value which shall be the land value certified by the Valuer General or other competent person or authority selected by us.

The insurer‟s liability for this extension is limited to $100,000 any one event

14. Money

Subject to the definitions and additional exclusions set out below, this Policy covers:

(a) Money as selected by You and shown in the Policy Certificate:

(i) Money at Your Business premises and not in a securely locked burglary resistant safe or strong room;

(ii) Money in a securely locked burglary resistant safe or strong room;

(iii) Money in Your dwelling or that of any person to whom such Money is entrusted;

(iv) Money in transit.

(v) Replacement of locks and keys

(b) Additional Perils Insured as follows:

This Policy is further extended to cover loss of or damage to Money directly caused by or resulting from any earthquake, hydrothermal activity, landslip, tsunami, volcanic eruption, or subsidence or erosion of the land at the insured location.



The Insurer‟s liability under this extension is limited to the Sum Insured stated in the Policy Certificate that you have selected when you have applied for this insurance.

This Money extension excludes all losses:

(i) Resulting from errors in receiving payment or paying out;

(ii) Damage occurring whilst the Money is entrusted to any person other than the Insured Person, any Principal or any Employee or agent of Yours, or any professional Money carrier;

(iii) Resulting from payment of Money in exchange for any cheque which is subsequently dishonoured;

(iv) Occurring whilst the Money is in an unlocked and unattended vehicle;

(v) Directly resulting from theft or fraud by any of Your Employees. However this exclusion does not apply to loss discovered within 30 days of the act of theft or fraud;

(vi) Covered by a valid policy of Fidelity Guarantee (or equivalent) form of insurance;

(vii) Occurring whilst the Money is in a safe or strong room opened by a key or by Use of a combination, either of which has been left at Your Business premises or sites of contract outside Business hours, unless such key or combination details have been properly secured.

(viii) Resulting from the fraudulent use of credit cards over a total amount of $500 by any customer of the insured during the period of insurance.

(c) Professional Fees

If the business has been damaged and the damage is covered by the Material damage section, we will pay the reasonable professional fees incurred to rebuild or repair your buildings and contents up to the Sum Insured limit of $50,000 for any one event.

(d) Protection Costs

The Insurer will indemnify You for any costs reasonably incurred by You for the purpose of, and for damage directly resulting from any cause of loss that involves or threatens to involve Insured Property which is insured under this Policy.

However:

(i) This indemnity does not apply to costs or damage for which indemnity would be payable under this insurance in the absence of this extension;

(ii) The Insurer‟s liability under this extension is limited to $50,000 in respect of costs and damage arising out of any one event, unless otherwise stated in the Policy Certificate;

(e) Redundant Foundations

Where the foundations of any building or plant are made redundant for any reason in consequence of Insured Damage to the superstructures or plant resting on them, and if the value of the foundations is reduced as a result, the loss of value will be deemed to be loss by physical damage for the purpose of losses under Section 1.

If it is not necessary to demolish the foundations in order to reinstate damaged property, and if the presence of the abandoned foundations increases the market value of the



property to which they are fixed, the amount of increase will be treated as salvage in the adjustment of loss for claim settlement purposes.

(f) Rewards

This Policy is extended to cover the cost of any reward paid by You for the purpose of protecting or recovering any Insured Property. However:

(i) No payment will be made unless it contributes to the protection or recovery of Your property; and

(ii) The terms of the reward must be agreed by the Insurer prior to the reward being offered; and

(iii) The Insurer‟s liability will not be increased beyond the Sum Insured on that property.

The Insurer will not unreasonably refuse its agreement to the terms of a reward payable under this extension.

(g) Removal of Debris

This Policy is extended to cover costs necessarily incurred for any of the following purposes in consequence of loss or damage insured under this Policy:

(i) Demolition, dismantling, shoring or propping up of Your Property;

(ii) Disposal of debris (including any kind of solid, liquid or gaseous matter) from the site of Your Property damaged and the area immediately adjacent to such site;

(iii) Recovery, defence, safeguard, removal, storage and return of Stock, plant and other chattels whether damaged or undamaged;

(iv) Clearing, cleaning and repairing of gutters, drains and the like;

(v) Temporary repairs and other measures necessary to secure Insured Property or to make it safe or suitable for continued Use;

This extension of cover does not include any sums which You become legally liable to pay by way of compensation or other damages consequent upon Pollution or contamination of property by any of the debris. The indemnity provided by this extension will not increase the Insurer‟s liability beyond the Sum Insured on the affected property.

The Insurer‟s liability under this extension is limited to $100,000 any one event.

(h) Rent Payable

The Insurer will, subject to the terms, conditions and exclusions of this extension, Section 1, and the General Conditions of this Policy, indemnify You for Rent where the Building or any parts thereof are unfit for occupation in consequence of Damage to the Building or elsewhere on or about the Building.

The amount payable shall be the Rent payable during the time the premises or any part thereof are unfit for occupation and is limited to a maximum of $10,000 over a 12 month period.

(i) Rewriting of Records

We will pay you in addition to your sum insured, up to $50,000, for clerical and professional costs incurred by you to re-write your necessary business records if they are lost or destroyed.



(j) Seasonal Increases

The Sums Insured shown in the Policy Certificate for Contents including Stock, materials in trade, machinery, plant and Money, will automatically increase by 100% or $100,000 in total whichever is lesser for the following periods:

(i) Sixty (60) days before Christmas Day and fourteen (14) days after Christmas Day;

(ii) Thirty (30) days before Good Friday and ten (10) days after Good Friday.

All other terms and conditions of the Policy will continue to apply.

(k) Social Club

This Policy extends to cover the property of any social club, sports club or similar body whose activities are principally for the benefit of Your Employees and is deemed to be included in the description of Insured Property as if it were owned by You.

(l) Stolen Keys

Where any key (including any equivalent device) or combination giving access to Insured Property is stolen or believed on reasonable grounds to have been duplicated without proper authority, Section 1 is extended to cover the costs reasonably and necessarily incurred in altering or replacing locks and their keys or combinations.

This Policy is also extended to cover the reasonable cost of opening any safe or strong room following theft of its key or combination.

The costs are deemed to be included in the Sum Insured on the affected property, subject to the liability of the Insurer being limited to $25,000 any one event.

(m) Temporary Removal

This Policy is extended to cover any of Your Property (except Stock) whilst temporarily removed to any place in Australia, whilst in transit to or from that place, or on the person of You or Your Insured Directors or Employees, in the course of their employment.

However, the Insurer‟s liability will not exceed the amount for which the Insurer would be liable had the loss or damage occurred at the particular place from which the property is temporarily removed.

In this extension, “temporarily removed” means removed for a particular purpose, with the intention that the property be returned to the place from which it has been removed once that purpose has been served.

(n) Marine Transit

The Insurer insurers the person named as the Insured in the Certificate against loss of or damage to items described in the Certificate as insured goods whilst in transit or for static risk as defined below caused by any of the following events that happen during the period of insurance within the radius of transit in the Certificate.

In Transit

While in or on any registered road vehicle (which term includes trailer when attached to the vehicle):

Fire, explosion lightning or flood

Earthquake, volcanic eruption, hail



Collision of the vehicle carrying the items with an external object, or of the items while on a vehicle carrying them with something not on or part of that vehicle

Overturning or jack-knifing of the vehicle carrying the items

Derailment

Theft whilst the vehicle is attended

Theft while the vehicle is unattended only if theft follows:

(i) Forcible entry into a locked vehicle or carrying compartment

(ii) Theft of the locked vehicle itself

(iii) Any other event.

Static Risk

Whilst the items described in the Certificate are removed from the conveying vehicle and contained in any building which shall include but not limit to any portable or temporary facility such as site sheds, containers, storage facilities, office premise, accommodations or buildings which are situated on work or construction sites.

Fire, explosion lightning or flood

Earthquake, volcanic eruption, hail

Theft consequent upon forcible and violent entry into a locked premise.

Impact by any road vehicle, animal, aircraft or other Arial devices or articles dropped therefore, falling trees or parts thereof buy not loss or damage caused by or consequent upon the falling or lopping of trees by or on behalf of the insured.

Acts of:

(i) Strikers or locked out workers or persons taking part in labour disturbances.

(ii) Malicious persons, other than theft, including persons of malicious intent acting on behalf of or in connection with any political organisation.

(iii) Any lawfully constituted authority in connection with the events specially referred to in (a) and (b) above where the resulting loss or damage is directly caused thereby

Storm and tempest and or rainwater as defined below “storm and or Tempest” means violent atmospheric disturbances accompanied by high winds sometimes combined with thunder, heavy falls of rain, hail or snow. Storm and or Tempest does not mean intermittent or persistent rain by itself.

"Rainwater" means water falling from the sky in the form of rain until such times as it reaches the group or falls on the premise in which the specified items are saturated.

Extension to cover

Debris. If an event insured against has occurred the insurance is extended to cover the cost of removal and disposal of the damaged, deteriorated or contaminated items; and of cleaning and decontamination. The insurer‟s liability is limited to a maximum of $5,000. It is in addition to the insurer‟s liability for the primary loss.



Exclusion from Cover

The insurance does not cover the insured against loss of or damage to the items or against any related expense caused by any of the following;

(i) Delay, loss of market or consequential loss of any description.

(ii) Mechanical, electrical or electrical breakdown or malfunction of items insured where there is no external evidence that an insured event has occurred.

(iii) War or war like activates which means invasion, act of foreign enemy, hostilities (weather war is declared or not).

(iv) Expropriation which means the lawful seizure, confiscation, nationalisation or requestion of goods

Limits on Cover

The insurance under this extension is limited to the Sum Insured shown in the policy Certificate for anyone loss or series of losses arising from the same event.

(o) Unharmed Property

If, for the sole purpose of reinstating Insured Property which is insured under Section 1 it is necessary to demolish, damage or remove any property or part unharmed, the Insurer will indemnify You for the cost of doing so.

The Insurer will also indemnify You for the cost of reinstating the property or part to a condition the same as, but not better or more extensive than, its condition immediately prior to the demolition damage or removal.

The indemnity provided by this extension will not increase the Insurer‟s liability beyond the Sum Insured on the property damaged.

(p) Works of Art

This Policy is extended to cover works of art including paintings, sculptures and the like up to a maximum of $10,000 per item and $30,000 in total.

Exclusions Applicable to Section 1

Section 1 does not cover loss or damage directly or indirectly caused by or arising from:

1. Consequential Loss

Any consequential losses whatsoever including penalties, loss of Use of any property, delays, or loss of market, unless specifically referred to in this Policy.

2. Controlled Temperature

Changes in artificially controlled temperature or atmosphere.

3. Crops & Infrastructure

Standing timber, growing crops, livestock, trees, hedges, dams, canals, reservoirs (but not tanks), road or railway tunnels, road or railway bridges, docks, piers, wharves, mining property located beneath the surface of the ground, any land including topsoil and backfill.



Conditions Applicable to Section 1 Only:

1. Basis of Settlement

(a) For property insured under Stock In Trade the Basis of Settlement is:

(i) In respect of Stock In trade insured under Declaration Conditions the basis of settlement shall be on the same basis as Stock In Trade, as declared in the monthly declaration figures made to the Insurer by You; or

(ii) In respect of Stock In Trade NOT insured under Declaration Conditions the basis of settlement shall be on the same basis as the Sum Insured was calculated.

(b) For Insured Property the basis of settlement shall be as follows:

In the event of any Insured Property being lost or damaged, the basis on which the amount payable under this insurance is to be calculated will be the cost of Reinstatement of that property. Cover under this extension is subject to the Special Provisions set out below, and is subject to the terms and conditions of this Policy except in so far as they are varied by the extension.

Special Provisions

(a) Compliance with Regulations:

The amount payable under this extension will include the cost incurred in Reinstatement which is necessary to comply with any Regulations; provided that the amount payable will not include any such cost:

(i) to the extent to which the work has already been required of You by notice served prior to the happening of the loss or damage; or

(ii) in respect of Undamaged property or Undamaged portions of property other than foundations (unless foundations are expressly excluded from insurance under this Policy). This Special Provision (ii) will apply whether or not the undamaged property or portion comprises a separate building or structure or a separate item of plant or equipment.

(b) Site of Reinstatement:

Where property is destroyed, the work of Reinstatement must be carried out on the same Site;

(i) where Reinstatement on the same Site is not permissible by reason of any Regulations; or

(ii) where Reinstatement on the same Site is not suitable to Your reasonable requirements, Reinstatement may be carried out on any alternative Site.

(c) Limitations of Amount Payable:

(i) where the work of Reinstatement is carried out in terms of definition Equivalent Building, or on any location other than the original location at the same Site, the Insurer‟s liability will not exceed the cost which would have been incurred had Reinstatement been carried out in terms of Equivalent Building (a) on the original location;

(ii) where Your property is damaged but not Destroyed, the Insurer‟s liability will not exceed the amount the Insurer could have been called upon to pay for Reinstatement of the property had the property been Destroyed;



(d) Under-insurance:

If, at the time of loss or damage, the Sum Insured is less than 80% of the cost which would be incurred,

Reinstatement if the whole of the property to which the Sum Insured applies Were Destroyed, then You will be considered as an insurer for the difference between the Sum Insured and the sum representing the cost of Reinstatement of the whole of that property, and must bear a rateable proportion of the loss accordingly.

This clause (1d) does not apply if the building has sustained less then 5% damage.

(e) Rates, Tax and Other Charges:

The amount payable under this extension will not include the amount of any rate, tax, duty, development charge, or any other assessment arising out of capital appreciation, which may be payable in respect of the property by reason of compliance with any Regulations.

2. Floor Space Ratio Index (Plot Ratio)

Where Buildings are damaged and the cost of reinstatements is more than 50% if the cost of reinstatement if the building has been totally destroyed and reinstatement of such damage is limited or restricted by;

(a) Any act of parliament or regulation there under; or

(b) Any by-law or regulation of any municipal or other statutory authority

Resulting in either case in the reduction of the floor space ratio index (plot ratio) of the sit, then we shall pay in addition to the amount payable on the reinstatement of such buildings the difference between:

(a) The actual costs incurred in reinstatement subject to the reduced floor space ratio index (plot ratio); and

(b) The estimated cost of reinstatement at the time of the damage had the reduced floor space ratio index (plot ratio) not applied.

Provided that our total liability for reinstatement or replacement value, additional costs of compliance and under this „Floor space ratio index (plot ratio)‟ clause shall not exceed the sum insured in respect of the Buildings which are the subject of the claim.

3. Maintenance

You must comply with all statutory requirements concerning the inspection and maintenance of passenger lifts and steam pressure apparatus.

4. Other Interests

Where You are under an obligation to insure the interest of any person or corporate body having an insurable interest in any of Your Property, the Insurer will indemnify You and that person or corporate body as if a separate Policy had been issued to each. However;

(a) The Insurer will not be liable to indemnify any person or corporate body whose interest has not been declared to the Insurer by the time indemnity becomes payable; and

(b) The Insurer‟s liability will not be increased beyond the amount that would be payable if this clause had not been incorporated in this Policy.



5. Progress Payments

In the event of loss or damage covered under this Policy, it is agreed that the Insurer will make progress payments on production of acceptable evidence of insured loss. Provided that, if the aggregate of progress payments exceeds the total amount of the adjusted loss, You will immediately refund the difference between the amount of adjusted loss and the aggregate of payments actually made.

6. Reinstatement:

In the event of a loss which is payable under Section 1 and, in the absence of written notice by the Insurer or You to the contrary, the amount of insurance cancelled by the loss will be automatically reinstated from the date of loss.

7. Salvage

Where property insured under Section 1 is lost or damaged, the Insurer may:

(a) Enter any building where the loss or damage has occurred and take and keep possession of the damaged property;

(b) Deal with the salvage in any reasonable manner, provided that:

(i) You are not entitled to abandon any property to the Insurer;

(ii) The Insurer is not entitled to sell or otherwise dispose of salvaged branded goods without Your prior consent.

In the event of You declining to give consent, You will retain possession of the salvaged goods and their reasonable salvage value will be deducted from the amount that would otherwise be payable. Where it is practical to remove brands, labels or other marks, which identify the goods as supplied by You, the salvage value of the goods will be determined after such removal at the Insurer‟s expense.




Section 2

Business Interruption



Section 2 - Business Interruption

Business Interruption:

The Insurer will indemnify You in respect of each item in the Policy Certificate the amount of loss Indemnity resulting from interruption or interference to the Business if during the Period of Insurance any Insured Property or part thereof Used by You at the Premises for the purpose of the Business be destroyed or damaged by such risks as are covered under Section 1 (destruction or damage so caused being called “Insured Damage”) and the Business carried on by You at the Premises is consequently interrupted or interfered with.

Provided that:

(a) The Insurer will not be liable under Section 2 unless the Property destroyed or damaged is insured against such Insured Damage under Section 1;

(b) Subject to the “Reinstatement of Amount of Insurance” condition of Section 2, the Insurer‟s liability will not exceed the Sum Insured; and if more than one item is included in the Policy Certificate, will not exceed in respect of each item the Sum Insured applicable to that item.

Automatic Extensions Applicable to Section 2 Only

1. Closure of Transport Routes, Ports or Airports

This Policy is extended to include loss resulting from interruption of or interference with the Business in consequence of Insured Damage resulting in closure; or closure by order of any Ports or Airports Authority as a result of fear of any Insured Damage at any transport route, port or airport anywhere in Australia.

Provided that liability under this extension shall be limited to 15% of each and every Item insured by Section 2, unless otherwise stated in the Policy Certificate.

2. Customers / Suppliers Premises

This Policy is extended to include loss resulting from interruption of or interference with the Suppliers Premises Business in consequence of Insured Damage within Australia at any premises of suppliers of goods or services to You, including suppliers of telecommunication or computer bureau services; or at the premises of any customers of Yours.

Provided that:

(a) Liability under this extension shall be limited to 20% of each and every Item insured by Section 2, unless otherwise stated in the Policy Certificate.

(b) Coverage under this extension does not apply to Equipment Breakdown Section 1: Automatic Extensions.

3. Health

This Policy is extended to include loss directly resulting from interruption of or interference with the Business in consequence of action taken by a competent public authority in respect of:

(a) Injury or illness sustained by any guest arising from or traceable to foreign or injurious matter in food or drink provided on the Premises; or

(b) Closing of whole or part of the Premises consequent upon defects in the drains and other sanitary arrangements at the Premises.



4. Murder / Suicide or Criminal Injury

This Policy is extended to include loss directly resulting from interruption of or interference with the Business in consequence of action taken by a competent public authority in respect of murder, suicide or criminal injury occurring at the Premises.

Provided that liability under this extension shall be limited to 15% of each and every Item insured by Section 2, unless otherwise stated in the Policy Certificate.

5. Prevention of Access

This Policy is extended to include loss resulting from interruption of or interference with the Business in consequence of Insured Damage within Australia to property in the vicinity of the Premises which shall hinder or prevent the Use thereof or access thereto, whether Your Premises or property therein shall be damaged or not.

Provided that:


(b) Coverage under this section does not apply to Section 1: Automatic Extensions: Section 1: Equipment Breakdown.

6. Public and Private Utilities

This Policy is extended to include loss resulting from interruption of or interference with the Business in consequence of Insured Damage within Australia to any land based communications, electricity station or sub-station or power line and cable, gas works, sewerage or water works of the public and/or private supply from which You obtain electric current, gas or water.

Provided that:


(b) Coverage under this extension does not apply to Section 1.

Description of Items Applicable to Section 2 Only

Item 1 - Gross Revenue

The Insurance under this Item is limited to loss of Gross Revenue due to:

(a) loss of Gross Revenue: and

(b) increase in cost of working; and

the amount payable as indemnity under this item shall be:

(a) in respect of loss of Gross Revenue, the amount by which the Gross Revenue during the Indemnity Period, in consequence of Insured Damage, falls short of the Standard Gross Revenue;

(b) in respect of increase in cost of working, the additional expenditure necessarily and reasonably incurred for the sole purpose of avoiding or diminishing the reduction in Gross Revenue which but for that expenditure would have taken place during the Indemnity Period in consequence of Insured Damage, but not exceeding the amount of the reduction in Gross Revenue thereby avoided; less any sum saved during the Indemnity Period in respect of such of the charges and



expenses of the Business payable out of Gross Revenue as may cease or be reduced in consequence of Insured Damage.

Alternative Trading

If during the Indemnity Period, services are rendered elsewhere than at the Premises for the benefit of the Business, either by You or by others on Your behalf, the money paid or payable in respect of those services shall be brought into account in arriving at the Gross Revenue during the Indemnity Period.

Item 2 - Additional Expenditure / Increased Cost

The insurance under this Item is limited to additional expenditure (including the additional cost of obtaining the necessary information for the replacement of all records of the Business including deeds, documents, plans, drawings, specifications, valuations, card indices and books of accounts) necessarily and reasonably incurred by You during the Indemnity Period in consequence of Insured Damage, for the purpose of:

(a) Avoiding or diminishing a reduction in Gross Revenue;

(b) Avoiding or diminishing a reduction in Gross Rentals;

(c) Resuming or maintaining any normal Business operation or service.

However, the insurance under this Item does not apply to: any additional expenditure which would have been recoverable under any other Item of Section 2 but for the inadequacy of the Sum Insured under that item; or any expenditure incurred to reinstate physical damage other than expenditure incurred to reconstruct records.

In the event of a loss the Insurer shall not be liable to more than 50% of the Sum Insured hereunder in respect of such additional expenditure arising in the first quarter of the Indemnity Period following the date of the Insured Damage nor more than an equal portion of the balance of the Sum Insured per month for the remainder of the Indemnity Period or 12 months - whichever occurs first.

Item 3 – Claims Preparation Costs

The insurance under this Item is limited to such reasonable professional fees, and such other reasonable expenses necessarily incurred by You for the preparation of a claim under Sections 1 and 2 of this Policy.

Item 4 – Rent Receivable

The insurance under this Item is limited to:

(a) Loss of Gross Rentals; and

(b) Increase in cost of working

and the amount payable as indemnity under this Item shall be:

(a) in respect of loss of Gross Rentals, the amount by which the Gross Rentals during the Indemnity Period, in consequence of Insured Damage, falls short of the Standard Gross Rentals;

(b) in respect of increase in cost of working, the additional expenditure necessarily and reasonably incurred for the sole purpose of avoiding or diminishing the loss of Gross Rentals which, but for that expenditure, would have taken place during the Indemnity Period in consequence of Insured Damage, but not exceeding the amount of the reduction in Gross Rentals thereby avoided; less any sum saved during the Indemnity Period in respect of such expenses of the Business payable out of Gross Rentals as may cease or be reduced in consequence of Insured Damage.



Alternative Premises

If during the Indemnity Period, the Business is conducted elsewhere than at the Premises, the Gross Rentals derived from the other premises shall be brought into account in arriving at the Gross Rentals during the Indemnity Period.

Item 5 – Accounts Receivable

The insurance under this Item is limited to the loss sustained by You in respect of Outstanding Debit Balances directly due to Insured Damage and the amount payable as indemnity under this Item in respect of any one occurrence of Insured Damage shall not exceed the difference between:

(a) The Outstanding Debit Balances, and

(b) The total of the amounts received or traced in respect thereof;

(c) The additional expenditure incurred with the prior consent of the Insurer in tracing and establishing customers‟ debit balances after Insured Damage.

Item 6 – Goodwill

The insurance under this Item is limited to the loss of goodwill consequent upon cancellation of Your lease of the Premises as a result of Insured Damage. The amount payable as indemnity shall be limited to the proportion of the Sum Insured under this Item that the unexpired term of the lease at the date of Insured Damage bears to the unexpired term of the lease as stated in the Policy Certificate.

If You are able to obtain the same or equivalent alternative premises under a new lease the amount payable hereunder shall be either the sum calculated above or the actual loss sustained, whichever is the less.



Conditions Applicable to Section 2 Only

1. Accumulated Stocks

In adjusting any loss, account shall be taken and an equitable allowance made if during the Indemnity Period turnover is temporarily maintained from accumulated stocks of finished goods held by You, thus causing a shortage of finished goods after the Indemnity Period has expired.

2. Departments

If the Business is conducted in departments or other units, the independent trading results of which are ascertainable, the provisions of any separate items on Gross Rentals will apply separately to each department or other unit affected by Insured Damage.

3. New Business (Gross Revenue)

For the purpose of any loss arising from Insured Damage, occurring before the completion of the first year‟s trading of the Business at the Premises, the terms Standard Gross Revenue and Annual Gross Revenue shall bear the following alternative meaning:

(a) Standard Gross Revenue - the proportional equivalent for a period equal to the Indemnity Period, of the Gross Revenue realised during the period between the commencement of the Business and the date of Insured Damage;

(b) Annual Gross Revenue - the proportional equivalent for a period of twelve months, of the Gross Revenue realised during the period between the commencement of the Business and the date of Insured Damage; to which such adjustments shall be made as may be necessary to provide for the trend of the Business and for variations in or other circumstances affecting the Business either before or after Insured Damage or which would have affected the Business had Insured Damage not occurred, so that the figures thus adjusted shall represent as nearly as may be reasonably practicable the results which but for Insured Damage would have been obtained during the relative period after Insured Damage.

4. Payment on Account

In the event of the occurrence of a loss under this Policy, payments on account will be made to You during the Indemnity Period if desired on production of a statement of claim certified by the Accountant appointed in accordance with the General Condition “Duties in the Event of a Claim” of the Policy.

5. Reinstatement / Amount of Insurance

In the event of a loss which is payable under Section 2 and, in the absence of written notice by the Insurer or You to the contrary, the amount of the insurance cancelled by such loss will be automatically reinstated from the date of loss.

You undertake to pay such pro-rata premium at the rate applicable to the Item(s) concerned as may be required for the reinstatement.



Exclusions Applicable to Section 2

Section 2 does not cover loss or damage directly or indirectly caused by or arising from:

1. Consequential Loss

Any consequential losses whatsoever including penalties, loss of Use of any property, delays, or loss of market, unless specifically referred to in this Policy.

2. Controlled Temperature

Changes in artificially controlled temperature or atmosphere.

3. Crops & Infrastructure

Standing timber, growing crops, livestock, trees, hedges, dams, canals, reservoirs (but not tanks), road or railway tunnels, road or railway bridges, docks, piers, wharves, mining property located beneath the surface of the ground, any land including topsoil and backfill.

4. Employee Dishonesty

Loss of property or money as a direct result of employee dishonesty if:

(a) You are able to identify which employee is responsible;

(b) The employee dishonesty happens during the period of insurance;

(c) The employee dishonesty is discovered within twelve (12) months of it occurring; and

(d) The loss is reported to the police immediately upon discovery and to Us within twenty-one (21) days.

(e) Any loss caused by a particular employee that occurs after;

(i) You become aware of an act of employee dishonesty by that employee; or

(ii) You suspect that employee has committed an act of employee dishonesty.

(iii) Any act of employee dishonesty committed by a person whom You knew to be dishonest.

5. Faulty Materials

The cost of repairing or replacing faulty materials, putting right faulty workmanship, putting right work performed to a faulty or defective design plan or design specification, or putting right faulty or defective work where the fault or defect results from an error or omission in design plan or design specification.

However these exclusions do not apply to any subsequent loss or damage occurring as a result of the faulty or defective materials, workmanship, design plan, design specification or work.

This exclusion does not apply to Section 1: Automatic Extensions: Section 1: Equipment Breakdown.

6. Fraud

Any fraudulent scheme or device or false pretence practised by You or on any other person having care of Your property.



7. Mould

The action of micro-organisms, mould, mildew, rot or fungi.

8. Production Process

Property damage to goods or Stock in Trade as a result of its undergoing any normal process of production where the damage is directly caused by that process.

9. Property in Open

Exposure to Weather conditions where the property is not normally left in the open unless reasonable precautions have been taken to protect the property from those conditions.

10. Property Under Alteration

Property in the course of installation, construction, demolition, erection, or testing following any Construction of them, unless the property is owned or to be owned or occupied by You and then only if the expected completed value or contract price will not exceed $500,000.

11. Settlement

Normal settlement, shrinkage or expansion of buildings, foundations, walls, pavements, roads and other structural improvements.

12. Theft by Insured:

Theft by You or by any of your employees with your knowledge.

13. Transmission & Distribution Lines

Physical loss, destruction, loss or damage to Transmission & Distribution Lines not owned by the Insured, including but not limited to transformers, poles, towers, wiring and equipment connected therewith.

14. Unexplained Disappearances

Unexplained disappearances, shortages revealed only by the taking of an inventory, shortages due to clerical or accounting errors.

15. Vermin

Vermin and or insects.

16. Wear & Tear

Normal working, maintenance, wear and tear, gradual deterioration, erosion, corrosion, slowly developing deformation or distortion, marring or scratching.




Section 3

Public & Products Liability



Section 2 - Public & Products Liability

Subject to all provisions, terms, exclusions, conditions of this Policy, the Insurer agrees to indemnify You for all amounts which You shall become legally liable to pay as a result of Claims or Legal Proceedings for Personal Injury or Property Damage happening during the Period of Insurance and caused by an Occurrence within the Territorial Limits and arising from and within the course of the Business.

Defence Provisions applicable to Section 3 only:

1. Defence Costs

The Insurer shall defend at their cost any Claim or Legal Proceeding against You that seeks compensation covered by this Policy, even if the Claim or Legal Proceeding is groundless, false or fraudulent.

2. What the Insurer Will Pay

In the defence of any Claim or Legal Proceeding against You that seeks compensation covered by the Policy the Insurer will:

(a) Investigate, negotiate and settle the Claim or Legal Proceeding; and

(b) Pay the following supplementary payments:

(i) All costs taxed or agreed against You in the Claim or Legal Proceeding;

(ii) Pre-judgement interest awarded against You on that part of the judgement We pay;

(iii) Post-judgement interest that accrues after entry of judgement and before We have paid, offered to pay or deposited in court that part of the judgement that is within the applicable Limits of Liability. However, We will not pay post judgement interest where it has been caused by a delay by You; and

(iv) Your expenses incurred at the Insurer‟s request or with the Insurer‟s written consent (including actual loss of wages or salary, but not loss of other income).

Notwithstanding, the Insurer will only be liable for the amount of damages and claimants‟ costs and expenses arising from an Occurrence that is over and above the amount of the Excess.

The Excess amount shall be borne by You and shall remain uninsured, with regard to all payments for which You shall be liable.

3. What the Insurer May Do

The Insurer may undertake investigations, conduct negotiations and with Your written consent settle any Claim or Legal Proceedings where settlement has been agreed to by the parties being indemnified or has been recommended by a Senior Lawyer mutually agreed upon by the parties.

If consent to such settlement is still withheld by You then Our liability on account of that Claim or Legal Proceeding shall not exceed the amount for which We could have settled the Claim or Legal Proceeding plus the costs and expenses incurred to the date such settlement was recommended in writing to You.

4. What the Insurer Won’t Do

The Insurer will not defend any Claim or Legal Proceeding or investigate any Claim or Legal Proceeding after the exhaustion of the applicable Limits of Liability by the payment of loss.



Limits of Liability Applicable to Section 3 Only

1. Limits – Personal Injury/Property Damage

The Insurer‟s liability in respect of any one Occurrence shall not exceed the Limit of Liability as set forth in the Policy Certificate. All Personal Injury and Property Damage arising out of continuous or repeated exposure to substantially the same general conditions shall be construed as arising out of one Occurrence.

2. Limits – Products Hazard

The Insurer‟s total aggregate liability during any one Period of Insurance for all Occurrences involving the Products Hazard shall not exceed the Limit of Liability as set forth in the Policy Certificate.

3. Costs in Addition

Expenses incurred to defend or investigate any Claim or Legal Proceeding will be in addition to the applicable Limits of Liability. Provided however that, in the event of any Claim or Legal Proceeding being made against You in any court or before any other legally constituted body in North America, the Limits of Liability shall apply to such Claim or Legal Proceeding inclusive of expenses to defend or investigate any Claim or Legal Proceeding.

4. Application of Limits of Liability

The Limits of Liability of this Policy apply separately to each Period of Insurance as shown in the Policy Certificate.

Automatic Extensions Applicable to Section 3 Only

1. Property in Care, Custody and Control

Notwithstanding the Property or Vehicles Owned or in the Insured‟s Physical or Legal Control, the Insurer will indemnify the Insured for Property Damage to:

(a) Tangible property (excluding livestock) not owned by the Insured, but in the physical or legal control of the Insured;

(b) Premises which are leased or rented to the Insured;

(c) Premises and their contents not belonging to, leased or rented to the Insured at which the Insured is undertaking work in connection with the Business;

(d) Vehicles and their contents (not belonging to or Used by or on behalf of the Insured) in the Insured‟s physical or legal control where such Property Damage occurs while any such Vehicle is in a car park owned or operated by the Insured;

(e) Cover under this extension does not apply if the Insured as part of the Business owns or operates a car park for reward;

(f) Goods, Equipment, Merchandise and Property other than real property subject to cover being limited to a maximum of $250,000 each Occurrence during any one Period of Insurance for such Property Damage;

The total amount payable under this extension, other than part (e) above, is for any one Occurrence and in the aggregate during the Period of Insurance as described in the Policy Certificate.



2. Stolen Keys

Where any key (including any equivalent device) or combination giving access to Insured Property is stolen or believed on reasonable grounds to have been duplicated without proper authority, Section 3 is extended to cover the costs reasonably and necessarily incurred in altering or replacing locks and their keys or combinations.

The costs are deemed to be included in the Sum Insured on the affected property, subject to the liability of the Insurer being limited to $25,000 any one event.

General Conditions applicable to Section 3 Only:

1. Claim or Occurrence within the Excess:

The Insurer has the right, but not the obligation, to assume the defence of any Claim or Legal Liability whether or not the Claim is considered by You to fall within the Excess.

2. Cross Liability:

If You comprise of more than one party, the Insurer will provide indemnity to each in the same manner and to the same extent as if a separate Policy had been issued to each, provided that the Insurer‟s total liability, for liability sustained by any or all of You, shall not exceed the Limit of Liability stated in the Policy Certificate.

3. Maintenance:

You must comply with all statutory requirements concerning the inspection and maintenance of passenger lifts and steam pressure apparatus.

Exclusions Applicable to Section 3 Only

This Policy shall not cover Loss or make any payment in connection with any Claim and excludes all liability arising out of, based upon or attributable to:

1. Aircraft, Hovercraft, Ownership, Possession, Maintenance, Operation, Repair or Use by or on behalf of You of:

(a) Any Aircraft or Hovercraft;

(b) Any Watercraft or vessel exceeding eight (8) metres in length, provided that this exclusion does not apply with respect to:

(i) Watercraft owned by others and Used by You for Business entertainment; or

(ii) Hand-propelled or sailing craft.

This proviso shall only apply where such Watercraft are sailing or operating in Australian territorial or inland waters.

2. Aircraft Products

Supply, distribution, sale or manufacture of Aircraft Products or reliance upon any representations or warranties made by You with respect to Aircraft Products or arising out of the Grounding of any Aircraft.



3. Asbestos Mesothelioma:

Asbestosis or for any death, disease, loss of Use of property, damage to property (including consequential loss) arising directly or indirectly out of or in connection with or in consequence of:

(a) Inhaling, ingesting or physical exposure to asbestos or goods or products containing asbestos; or

(b) The Use of asbestos in constructing or manufacturing any good, product or structure; or

(c) The removal of asbestos from any good, product or structure; or

(d) The manufacture, sale, transportation, storage or disposal of asbestos or goods or products containing asbestos; or

(e) The presence of asbestos in any buildings.

4. Blasting

Blasting or the Use of or detonation of explosives.

5. Contractors/ Liability for Personal Injury or Property Damage

Damage in connection with or in any way arising from Sub-Contractors the acts or omissions of contractors performing works on Your behalf.

However, this exclusion shall not apply to any such liability arising from the acts or omissions of any contractors or Sub Contractors notified to and accepted by the Insurer and listed in the Policy Certificate, provided always that the Insurer‟s liability shall not exceed the Limit of Liability stated in the Policy Certificate.

The contents of this exclusion in no way alters the Insurers rights of subrogation against the contractors or sub-contractors.

6. Expected or Intended Personal Injury or Property Damage:

Any Personal Injury or Property Damage expected or intended from Your standpoint. However, this exclusion does not apply to:

(a) Personal Injury or Property Damage resulting from the Use of reasonable force to protect persons or property; or

(b) Your liability for compensation as the result of an act committed by Your Employee(s) which results in Personal Injury or Property Damage expected or intended from the standpoint of Your Employee(s), provided such act was not committed at Your direction.

7. Faulty Workmanship:

Liability to perform, complete or rectify any work undertaken by You or on Your behalf, or to pay the cost of performing, completing or rectifying such work.

8. Financial Loss:

Unless such loss is a direct result of Personal Injury or Property Damage for which indemnity is provided by this Policy.



9. Fines and Penalties

In respect of that part of a Claim that is for payment of:

(a) Fines, penalties (civil or criminal), liquidated, punitive, aggravated or exemplary damages;

(b) Taxes;

(c) Non-pecuniary relief;

(d) Matters which may be deemed uninsurable under the law pursuant to which this Policy shall be construed.

10. Libel or Slander Arising out of a Libel or Slander

(a) Made prior to the effective date of this Policy; or

(b) Made by or at Your direction with knowledge of the falsity or defamatory character thereof; or

(c) Related to advertising, broadcasting, publishing or telecasting activities including internet activity, conducted by You or on Your behalf.

11. Loss of Use

Loss of Use of any tangible property which has not been physically injured or destroyed resulting from:

(a) A delay in or lack of performance by You or on Your behalf of any contract or agreement; or

(b) The failure of Your Products to meet the level of performance, quality, fitness or durability expressly or implied, warranted or represented by You.

Provided that this exclusion (b) does not apply to loss of Use of other tangible property resulting from the sudden and accidental physical injury to or destruction of Your Products after such products have been put to Use by any person or organisation other than You.

12. Molestation of Minors

Liability as a result of Personal Injury sustained by any person arising out of or as a result of the molesting of or interfering with minors by;

(a) Any Insured

(b) Any Employee of any Insured, or

(c) Any Person performing any volunteer services for or on behalf of the Insured.

The Insurer will not have any duty to defend any action suit of proceeding against the Insured either directly or vicariously seeking damages on account of Personal Injury.



13. Product Defect

For Property Damage to Your Products if such Property Damage arises directly or indirectly out of or is in any way connected with:

(a) Any defect in them or their harmful nature;

(b) Their unsuitability for the purpose for which they were intended; or

(c) Their inherent vice or inefficiency or ineffectiveness.

14. Product Recall

For any cost or expense incurred or claimed for the withdrawal, inspection, repair, replacement, or loss of Use of Your Products or of any property of which such Products form a part, if such products, or property are withdrawn from the market or from Use because of any known or suspected defect or deficiency therein.

15. Professional Services:

Arising out of the rendering of or failure to render professional advice or services by You or any error or omission arising from the rendering of professional advice, design specification or service for a fee, but this exclusion does not apply to the rendering of or failure to render professional medical advice by Medical Persons employed by You to provide first aid and other medical services on Your premises.

16. Silica Presence:

Ingestion, inhalation or absorption of or exposure to silica products, silica fibres, silica dust or silica in any form, or to any obligation of You to indemnify any party because of Bodily Injury or Property Damage arising out of the presence, ingestion, inhalation or absorption of or exposure to silica products, silica fibres, silica dust or silica in any form.

17. Shoring and Liability for Personal Injury or Property Damage:

Caused directly or indirectly by or in Underpinning connection with the shoring, support or underpinning of any building or structure of any kind up to (3) meters in depth.

18. Vehicles Personal Injury or Property Damage:

Caused by or arising out of the ownership, possession, use, repair, servicing, maintenance or operation by You of any Vehicle which is registered or in respect of which insurance is required by virtue of any legislation.

Provided that this exclusion shall not apply to Your liability for Personal Injury or Property Damage arising from:

(a) the actual loading, unloading, delivery or collection of goods to or from any Vehicle;

(b) the Use of any Tool of Trade either on any site where You are undertaking work or at Your Premises.

This proviso does not extend cover to the Use of any Tool of Trade, either on any site where You are undertaking work or at Your premises, whilst in transit or whilst being Used for transport or haulage.



19. Workers’ Compensation & Employers’ Liability:

(a) In respect of Bodily Injury sustained by an Employee which arises out of or in the course of their employment by You:

(b) Imposed by the provisions of any:

(i) Workers‟ compensation legislation or under any similar legislation;

(ii) Accident compensation legislation or under any similar legislation;

(iii) Industrial award, agreement or determination.;

(iv) For any obligation for which You may be held liable under any Worker‟s Compensation Law or under any similar law.

Written references are obtained and checked for all new employees (except school-leavers) covering at least the preceding two (2) years of continuous employment, where the employee is to be responsible for money, securities, stock or accounts.



PART 2 - “SAVANNAHPAK” BUSINESS INSURANCE POLICY WORDING

Section 4

Errors and Omissions

See also General Exclusions and General Definitions applicable to all Sections.



Section 4 – Errors and Omissions

This section covers Your liability for compensation and claimant‟s costs and expenses in respect of claims arising from an act, error or omission made by You resulting from the conduct of the professional services.

Please note that this section is issued on a „claims made and notified basis‟, which means that it will only cover You for claims made and notified to Us during the period of Insurance, irrespective of when the cause of action may have occurred.

You can claim for civil liability and additional costs as described below if:

(a) You select “Errors and Omissions” and it is included in Your Policy Certificate; and

(b) The claim is not excluded by any of the General Exclusions applicable to all sections of this policy.

We will indemnify You against civil liability. We will also pay for additional costs for claims covered under this section of the policy.

For the purposes of this section additional costs shall mean all necessary and reasonable costs and expenses incurred by Us, or by You with Our prior written consent, in defending, investigating or settling any claim or claims (other than claimant‟s costs and expenses).

Additional Benefits

These Additional Benefits are subject to all of the General Conditions, General Exclusions, Claims Conditions and terms of the Policy, unless otherwise stated. The total of all payments made under these Additional Benefits are subject to and not in addition to the limit of indemnity specified in the Certificate.

Lost Papers

We will pay You for all costs and expenses reasonably incurred by You in replacing or restoring papers, following loss of or damage to such papers occurring in connection with the professional services, provided that:

(a) Such loss or damage is sustained during the period of insurance while the papers are either in transit or in the custody of You or any person to whom You have entrusted them in the course of the conduct of the professional services, and

(b) The amount of any claim for such costs and expenses shall be supported by bills and accounts which shall be subject to approval by a solicitor to be nominated by Us with Your consent, or if Your consent is withheld by the president of the Law Society of New South Wales.

Dishonesty of Employees

Notwithstanding the Dishonest, Fraudulent or Criminal Acts exclusion, We will indemnify You against liability for compensation and claimant‟s costs and expenses in respect of any claim first made against You and notified to Us during the period of insurance resulting from any dishonest, fraudulent, criminal or malicious act or omission by any of Your employees, partners or directors, occurring or committed in connection with the professional services.

We will not:

(a) Indemnify any person who committed, participated, engaged, encouraged or condoned dishonest, fraudulent, criminal or malicious act or omission;

(b) Pay claims for loss of money, bearer bonds or coupons belonging to You.



Previous Business

Notwithstanding the Previous Business exclusion in this Section 4, we will indemnify any person who during the period of insurance is, becomes, or ceases to be a business partner, director or principal of the business, for their liability to pay compensation and claimant‟s costs and expenses in respect of any claim:

(a) For breach of professional duty by reason of any negligent act, error or omission on the part of that person or that person‟s business partners, co-directors or employees in the conduct of the same business in connection with the provision of the professional services business before that person was a partner, director or principal of the business; and

(b) First made against You and notified to Us during the period of insurance. We will not be liable for any claim resulting from any act, error or omission occurring, committed or alleged to have been committed prior to the retroactive date.

Outgoing Principals

The definition of “You” is extended to include former principals, partners or directors of the business.

Exclusions Applicable to Section 4 Only

We will not be liable in respect of any professional services, claim, liability, compensation, claimant‟s costs and expenses or additional costs:

Prior Claims or Known Circumstances

(a) First made against You prior to the inception of the period of insurance; or

(b) Directly or indirectly arising from or in respect of any facts or circumstances which were:

(i) Known to You prior to the inception of the period of insurance and a reasonable person in Your position would have known might give rise to a claim; or

(ii) Notified under any insurance that was in force prior to the inception of the period of insurance;

Territorial & Jurisdiction

Arising directly or indirectly out of any act, error or omission occurring in North America and in relation to any judgment of a court of law (or other judicial body) in North America;

Asbestos

(a) Arising directly or indirectly from or in respect of asbestos, asbestos fibres, or derivatives of asbestos; loss of Use of, property arising out of any asbestos, asbestos fibres or any derivatives of asbestos; or

(b) Arising directly or indirectly out of the cost of cleaning up, or removal of, or damage to, or diminution of value of, or loss of Use of, property arising out of any asbestos, asbestos fibres or any derivatives of asbestos.

For the purpose of paragraph (b), damage means physical loss, damage or destruction and resultant loss of Use, and property means any tangible or intangible property and includes property.



Libel and Slander

Arising directly or indirectly from or in respect of libel, slander or defamation which is uttered or written:

(a) Prior to the retroactive date, or

(b) At Your direction and in the knowledge that it was false;

Personal Injury to Employees

(a) Arising directly or indirectly from or in respect of personal injury to any employee sustained in connection with or in the course of his or her employment; or

(b) Directly or indirectly from or in respect of the provisions of any:

(c) Workers‟ compensation legislation;

(d) Accident compensation legislation; or

(e) Industrial award, agreement or determination.

Directors and Officers Liability

Arising directly or indirectly from or in respect of Your functions and duties as a director and/or officer of any legal entity, corporation, or other incorporated body;

Trading Debts

Arising directly or indirectly from or in respect of any trading debt incurred, or any guarantee in respect of such debt given by You; Dishonest, Fraudulent or Criminal Acts arising directly or indirectly from or in respect of any dishonest, fraudulent, criminal or malicious act, error or omission by You or Your employees.

Subrogation Waiver

Arising directly or indirectly from or in respect of any liability which is incurred or affected by reason of You at any time entering into a deed or agreement excluding, limiting or delaying Your legal rights of recovery against another;

Competition and Consumer Law

Arising directly or indirectly from or in respect of claims made under the Penal or criminal provisions of the;

(a) Competition and Consumer Act, 2010 (Cth); or

(b) Fair Trading Act 1987 (NSW) or any similar legislation in any other State or Territory in Australia; or

(c) Resulting from conduct that is fraudulent or intended to mislead or deceive. Assumption of Liability arising directly or indirectly from or in respect of any liability which is assumed by You other than that liability which You would have at law in the absence of Your agreement to assume same; Fines, Penalties, Punitive or Aggravated Damages arising directly or indirectly from or in respect of any fines or penalties including civil penalties, punitive or aggravated damages;



Liquidated Damages

Arising directly or indirectly from or in respect of liquidated damages imposed upon You by contract or agreement, except to the extent that You would have been liable for those damages in the absence of any such contract or agreement;

Joint Venture

Joint Venture liquidity arising directly or indirectly from or in respect of Your participation in a joint venture or partnership, unless such liability arises out of Your negligent act, error or omission in the conduct of the professional services by You and in a professional capacity in which case the indemnity given shall only relate to Your proportion of any liability incurred by such joint venture;

Associated Entities

Arising directly or indirectly from or in respect of work performed:

(a) For persons related to You;

(b) For firms or companies controlled by You or by Your relatives; or

(c) By a firm or companies in the same group of firms or companies as You;

Intellectual Property

Arising directly or indirectly from or in respect of:

(a) An actual or alleged infringement of another person‟s intellectual property rights , unless it is alleged and a court finds that the infringement was solely the result of Your negligence and was committed in the course of carrying on the professional services; or

(b) An actual or alleged infringement of copyright, patent or trademark concerning Your promotional literature, industrial process or other property;

Pollution

(a) Caused by or arising directly or indirectly out of the actual, alleged or threatened discharge, dispersal, release or escape of contaminants or pollutants into or upon any property, land, the atmosphere or any watercourse, or body of water (including groundwater); or

(b) In respect of costs or expenses incurred in preventing removing or cleaning up such contaminants or pollutants.

Products

Arising directly or indirectly from or in respect of or in connection with anything (after it has ceased to be in Your possession or control) including its packaging or container which is manufactured, grown, extracted, produced, processed, assembled, constructed, erected, installed, repaired, serviced, treated, sold, supplied, resupplied, or distributed in or from Australia or its external territories by You in the normal course of the business, and also including design formula or specification, directions, and markings however this section does not exclude claims for financial loss arising from any instructions or warnings given or omitted to be given by You in relation to any vehicle or other thing serviced or inspected by You in the normal course of Your business and in connection with the professional services.

For the purpose of this exclusion, Vehicle means any type of machine on wheels or on self-laid tracks made or intended to be propelled by other than manual power and any trailer made or intended to be drawn by any such machine while attached to it;



Previous Business

Arising directly or indirectly from or in respect of or in connection with the business prior to You becoming the principal, director or partner in the business.

Insolvency

Arising directly or indirectly from or in respect of Your insolvency, bankruptcy or liquidation.

Statutory Insurance

For which You are or would be indemnified under any insurance policy that is required to be affected under law.

Employment Practices Liability

Arising directly or indirectly from or in respect of Your employees including former employees, relating to their employment, dismissal, redundancy, or in respect of any claim or series of claims arising from any alleged or proven case of unfair employment practices, discrimination, wrongful or unfair dismissal, denial of natural justice, defamation, misleading representation or advertising made against You.

Financial Loss

Arising directly or indirectly from or in respect of financial loss:

(a) Arising from or in connection with:

(i) Organizational, administrative, promotional, managerial or logistical matters;

(ii) The transaction of moneys, currency or any other form of financial transaction conducted by You;

(iii) Any financial or other transaction involving the transfer of assets from or to You conducted in connection with Your business;

(iv) The unauthorized Use of an eftpos machine or credit card processing device, cheques , similar negotiable instruments or loss of money held by You; or

(v) Any dishonesty, fraudulent, criminal or malicious act, error or omission by You or Your employees.

(b) Suffered by You, Your employees or any member of Your family.

Part 3 – FINANCIAL SERVICES GUIDE (FSG)


Part 3 - FINANCIAL SERVICES GUIDE (FSG)

Date of Preparation: 31st March 2011

Distribution of this FSG has been authorised by Savannah Insurance Agency Pty Ltd (Savannah).

This FSG contains important information about Savannah. This FSG is designed to help You decide whether to Use the services Savannah provide, how they are remunerated and how any complaints You may have are dealt with.

If You decide to acquire insurance, You will be given a Product Disclosure Statement (PDS) before or at the time You acquire the insurance. The PDS is designed to assist You to make informed choices about Your insurance needs. It gives a summary of the benefits and risks associated with, including general information about, the insurance as Well as a policy wording (that sets out the specific terms, conditions and exclusions of the cover provided).

Please keep this FSG along with Your policy documents in a safe place for future reference.

About Savannah

Savannah is an underwriting agency acting under a binding authority which means Savannah acts as an agent of the Insurer. Savannah does not act on Your behalf. Savannah acts on behalf of, and as agent of the Insurer.

Savannah’s Services

Savannah is authorised under its Australian Financial Services Licence (No. 329631) to provide general financial product advice (but not personal advice) on, and issue, general insurance including but not limited to the following insurance cover; Public Liability, Professional Indemnity, Management Liability, Property, Business Interruption, Commercial Motor, Crime & Fidelity Guarantee and Personal Accident.

How Savannah is Remunerated

Savannah will receive a percentage of the gross premium (including taxes and charges) each time You buy a policy (including renewals) and for some variations. This does not increase the amount of premium paid by You. Savannah retains all the commission it receives from the Insurer as well as any fee it may receive for policy issuing and administration or back office services.

Savannah may also receive a profit share commission calculated as a percentage of the gross premium (including taxes and charges) from the Insurer based on the profit they earn on the portfolios underwritten by Savannah on their behalf.

Savannah may also charge You an administration fee when You first enter into a policy and on any variation, renewal or cancellation. This amount is payable in addition to Your premium.

Savannah‟s staff are paid a salary. They may receive bonuses or other incentives and rewards depending on their performance relating to certain specific business criteria.

For details of Savannah‟s remuneration, please contact Savannah within a reasonable time after receiving this FSG and before Savannah provide any insurance services to You.

Part 3 – FINANCIAL SERVICES GUIDE (FSG)


What happens if You have a complaint?

Savannah has established formal internal dispute procedures to ensure that all enquiries and complaints are fairly and properly considered and dealt with. If You have an enquiry or complaint about Our services or the services of Savannah please phone Our Complaints Manager on (02) 8062 4250.

If Your complaint remains unresolved, please contact:

Savannah Dispute Resolution Manager

GPO Box 4920, Sydney, NSW 2001 Tel: (02) 8062 4254 Fax: (02) 8078 0162 Email: [email protected]

If You are not satisfied with the outcome of Our internal dispute resolution process You may lodge a written complaint with the Financial Ombudsman Service Limited (FOS) which can be contacted at:

GPO Box 3, Melbourne, VIC 3001

Freecall: 1300 78 08 08 Fax: (03) 9613 6399 Email: [email protected] Web: www.fos.org.au

This service is offered to You free of charge and their decisions are binding on Savannah but not You.

Professional Indemnity Insurance

Savannah has professional indemnity insurance in place which covers Savannah and their employees for any errors or mistakes relating to their insurance services. This insurance meets the requirements of the Corporations Act and meets claims relating to an employee even after they cease to be an employee, provided that the Insurer is notified of the claim when it arises and this is done within the relevant policy period.

Privacy

Savannah are committed to protecting Your privacy. Information supplied to them by You (or Your intermediary) will only be Used to arrange the insurance product(s) with the Insurer. Savannah do not trade, rent or sell Your information and You can check the information they hold about You at any time. Savannah‟s complete Privacy Policy can be accessed on Our Website www.savannahgroup.com.au or by writing to Savannah at the address shown in this FSG.

Contact details

If You need further information about Savannah‟s products or services, or should You have any queries please contact Savannah or visit Our Website: www.savannahgroup.com.au

Savannah Insurance Agency Pty Ltd ABN 84 130 364 313 AFSL # 329631 Suite 2 Level 9 220 George Street, Sydney, NSW 2000 Tel (02) 8062 4250 Fax (02) 8078 0162



http://www.fos.org.au/



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