Object of Insurance Clause Samples

Object of Insurance. 2.1 The object of insurance is the cargo indicated in the insurance policy, which is transported using a means of transport, and the policyholder’s financial interest in the cargo. 2.2 The financial interest in the cargo that need not be indicated separately in the insurance agreement: a) costs of removal or disposal of damaged or destroyed cargo (not exceeding 10% of the sum insured); b) a financial claim raised against a person insured under Institute Cargo Clauses (e.g. a claim raised under the General Average adjustment). 2.3 The financial interest in the cargo that is insured only if separately indicated in the insurance agreement: a) direct costs related to the carriage of the cargo (e.g. freight charges paid to the carrier); b) taxes and duties related to the importation or exportation of the cargo (e.g. customs duties); c) non-refundable taxes related to the placement of the cargo in free circulation (e.g. excise duty); d) direct costs related to a late arrival of the cargo (not exceeding the freight charges). 2.4 The means of transport carrying the cargo and the goods handling equipment shall be technically sound and suitable for carrying the cargo, considering the nature of the cargo, the route and other circumstances of carriage. The means of transport shall comply with the legislation effective in the countries of departure, transit and destination and with applicable regulatory requirements (e.g. the certificate issued by the vessels classification society, etc.). 2.5 The following do not constitute an object of insurance (unless otherwise agreed in the insurance agreement): a) an item not being transported (e.g. goods stored); b) cargo driven by its own power; c) towed cargo; d) means of transport carrying the cargo (incl. a container or trailer); e) cash, bankcards, securities, bonds, gift cards, lottery tickets, coupons, invoices, checks, tax stamps, docu­ ments, plans, designs, drawings, archives, information and software contained in an information proces­ sing system or storage medium; f) weapons, ammunition and explosives; g) items of historical or artistic value; h) precious stones, pearls, items made of precious metals or materials; i) living creatures, including humans, animals, fish, birds, insects, plants, etc.; j) dead bodies, donor organs, incl. donor blood; k) radioactive material; l) contraband, incl. goods whose carriage is prohibited by the relevant legislation of the country of departure, destination or transit.

Object of Insurance. 1.1. The object of insurance is the movable (Cargo) which is trans- ported and/or the property interests of the policyholder indica- ▇▇▇ in the policy. The modes of transport (incl. postal cargo) may include: road transport, maritime transport (incl. inland waterway transport), rail transport and air transport. 1.1.1. Transported Cargo may include goods or other movables owned by or in the possession of the policyholder (incl. packaging, la- bels, etc.), and exposition exhibits, work equipment, devices and samples in the use of the policyholder's staff for the trans- portation of which the policyholder is responsible and which are in the possession of or owned by the policyholder. 1.1.2. Property interest may include any direct expenses relating to transportation of the cargo, direct expenses relating to delay of the cargo, loss of profit, expenses incurred in removing or dis- posing of the cargo, direct expenses relating to the policyhol- der's or the Insured's liability arising from the General Average Clause or described in other Institute Cargo Clauses (e.g. Both to Blame Collision Clause), or customs, excise or other such ta- xes for the payment of which the policyholder or the Insured is responsible and which are specially indicated in the insurance contract (separate indication thereof shall be the prerequisite for the respective insurance cover): 1.2. The object of insurance shall not include: 1.2.1. Items not transported, means of transportation carrying the cargo (incl. containers and other goods handling equipment, unless these are the object of carriage), information recorded on data media, people, contraband (incl. goods in unlawful pos- session and goods which carriage is prohibited by the legisla- tion of the country of consignment, transit or destination); 1.2.2. Unless specially agreed upon in the insurance contract, the objects of insurance shall not include any towed cargo (incl. carriage by barge), and money, bank and telephone cards and other means of payment, securities, excise duty stamps, posta- ge stamps, lottery tickets, memory, video and audio cards, pre- cious metals and products made therefrom, previous stones and pearls, artworks, antiquities, dead bodies, donor organs, live animals, plants, weapons, radioactive materials. 1.3. The means of transportation carrying the cargo and the goods handling equipment must be suitable taking into consideration the nature, characteristics and route of the cargo and comply with the legislat...

Object of Insurance. 40.1. Property interests related to the cancellation of trip due to the Insured Event.

Object of Insurance the property interest of the Insured, related to the indemnification of the damage by the Insurer due to the occurrence of the insured event.

Object of Insurance. 2.1. The object of insurance is the insured person’s civil liability, which may arise in connection with the provision of the insured service, i.e. in connection with road transport of cargo for reward (road transport may also include maritime transport while the lorry is on board and the cargo or container is not transhipped and the trailer is not decoupled from the lorry), with the insured person acting as the actual carrier and using a lorry in its ownership or possession, indicated in the insurance agreement, to perform the carriage. 2.2. Unless otherwise provided in the insurance agreement, the insurance cover will not extend to the following types of carriage: a) cargo not being transported (e.g. goods stored); b) cargo driven by its own power; c) towed cargo; d) items being removed, e.g. apartment and office furnishings; e) items transported under international postal conventions; f) cash, bankcards, securities, bonds, gift cards, lottery tickets, coupons, invoices, checks, tax stamps, documents, plans, designs, drawings, archives, information and software contained in an information processing system or storage medium; g) documents accompanying the cargo, including commercial invoices, packing sheets, waybills (CMR ▇▇▇▇▇▇▇, ▇▇▇▇ of Lading, Air waybill, etc.); h) weapons, ammunition and explosives; i) items of historical or artistic value; j) precious stones, pearls, items made of precious metals or materials; k) living creatures, including humans, animals, fish, birds, insects, plants (incl. cut flowers), etc.; l) dead bodies, donor organs, incl. donor blood; m) radioactive materials; n) contraband, incl. goods whose carriage is prohibited by the relevant legislation of the country of departure, destination or transit.

Object of Insurance. 1.1. The Object of Insurance is the car indicated in the policy as it was before the first sale thereof, and any accessories installed in the car after it was sold for the first time within the Maximum Indemnity indicated in the policy. The first sale is the sale of the car to the end user for the first time. 1.1.1. Insured accessories are deemed to include any entertainment, multimedia, navigation, communications and consumer equipment, auxiliary lamps, components changing the exterior and/or aerodynamics of the car, alloy wheels, additional bumpers, stickers and taxi equipment. 1.1.2. In the case of the ▇▇▇▇▇ ▇▇▇▇▇ insurance product, even a safety seat or carry cot mounted in the car as well as a roof box, roof rack and bicycle rack secured to the car deemed to be the insured accessories. 1.2. The Object of Insurance does not include the following items which have been installed in the car after it has been sold for the first time: 1.2.1. any equipment or parts intended for competing, racing or training; 1.2.2. any equipment or parts that have been installed in violation of the requirements of the legislation.

Object of Insurance. 22.1. Object of insurance – the property interests of the Insured related to civil liability arising from ordinary actions of the Insured as a natural person, whereby the Damage has been inflicted on third parties. 22.2. The object of insurance shall also include civil liability of the Insured for Damage arising from wilful actions taken by the Insured’s children under 12 years of age. 22.3. The object of insurance shall also include unlawful negligent actions by the Insured while staying Abroad and the related indispensable and reasonable legal expenses within the limits of the Sum Insured.

Object of Insurance. 3 The object of insurance is the immovable and/or movable property located in the place of insurance, agreed on upon entry into the insurance contract or during the insurance period and specified in the policy (hereinafter the property).

Object of Insurance. 2.1 The object of insurance is the insured person’s civil liability, which may arise in connection with the provision of the insured service, i.e. in connection with the organisation of transportation of cargo for reward (freight forwar­ ding), where the insured person operates as the freight forwarder and uses the services of subcontractors in per­ forming the contract. Insured activities may also include the provision or arranging for the provision of storage services or other services indicated in the insurance agreement. 2.2 Under the freight forwarding contract, the insured person may be liable to the client as a contractual carrier, an intermediary (without assuming any liability as the actual or contractual carrier) or a storage service provider. 2.3 The type of liability insured under the insurance agreement and the corresponding indemnity limits are speci­ fied in the insurance agreement. a) The liability of a contractual carrier is set out in sections 15–21 of the General Conditions of the Estonian Logistics and Freight Forwarders Association (ELFA); in this case the freight forwarder is also liable for damage caused by subcontractors used by the freight forwarder. b) The liability of an intermediary (without assuming any liability as the actual or contractual carrier) is set out in sections 22–24 of the General Conditions of the ELFA; in this case the freight forwarder is not liable for damage caused by subcontractors used by the freight forwarder. c) The liability of a storage service provider is set out in section 25 of the General Conditions of the ELFA and in the ELFA’s General Terms and Conditions for Warehousekeepers. 2.4 Unless otherwise provided in the insurance agreement, the insurance cover will not extend to the following types of carriage, to storage or to other cargo handling services indicated in the insurance agreement: a) cargo not being transported (e.g. goods stored); b) cargo driven by its own power; c) towed cargo; d) items being removed, e.g. apartment and office furnishings; e) items transported under international postal conventions; f) cash, bankcards, securities, bonds, gift cards, lottery tickets, coupons, invoices, checks, tax stamps, docu­ ments, plans, designs, drawings, archives, information and software contained in an information proces­ sing system or storage medium; g) documents accompanying the cargo, incl. commercial invoices, packing sheets, waybills (CMR ▇▇▇▇▇▇▇, ▇▇▇▇ of Lading, Air waybill, etc.); h) weapon...