Chapter 14 Boiler And Machinery Coverage

BOILER AND MACHINERY COVERAGE

The importance of inspection

Standard policy Components

Nature of Coverage Provided

Key Policy Terms

[A] Accident

 

 

 

[B] Sudden and Accidental

[C] Breakdown and damages Distinguished

Suspension of Coverage Following Inspection

Joint Loss Clauses

Combined property and Boiler Policies

Fire Risks and the explosion Exclusion

Coverage for Indirect Losses

Chapter 15 Fidelity Coverage

Fidelity Coverage

The financial Institution Bond

[A] History

[B] Standard Form 24

[C] The Insuring Agreement

[1] Insuring Agreement(A): Fidelity

[2] Insuring agreement (B) On Premises

[3] Insuring Agreement (C) : In Transit

[4] Insuring Agreement (D) : Forgery or alteration

[5] Insuring Agreement (E) : Securities

[6] Notice of legal Proceedings Against Insured- Election to Defend

[E] Conditions and limitations

[F] Exclusions

Crime Insurance