Warehousing Legal Liability

Warehousing Legal Liability

Category:Non Motor

Description:

CLASS OF POLICY

Warehousing Legal Liability Insurance

PERIOD

  

From:                                       To:
 

COVER

Legal liability imposed upon the insured by law because of loss or damage to property owned by customers/clients in the care, custody or control of the insured for storage, under bills of lading , shipping or warehouse receipt whilst at the locations declared.

INTEREST

  

Against loss or damage to goods of all types and descriptions including but not limited to general dry cargo, personal effects, industrial products of all types, insured’s own property or property under control or custody of the insured and/or for which the insured is responsible or has instructions to insure.

LIMITS OF LIABILITY

  

Any one location Kshs. _________________________

Annual fee Kshs. _________________________

ATTACHMENT DATE

 To attach from the moment the customers property is placed in the care, custody or control of the insured and continuously thereafter while in storage at the insured’s premises described herein until delivered to the consignee or the insured’s responsibility has ceased.

EXTENSIONS

  

ð       Premium payments on bonds to release attachments.

ð       All costs taxed upon the insured in any suit and/or interest including loading and unloading risks.

LOCATIONS

  

Specific locations: _____________________________________________________

EXCESS

  

Subject to excess 10% of each and every claim min . 10,000/=

SPECIAL CONDITIONS & CLAUSES

 

 

  

  • Theft, hold up & hijack clause(loss due to robbery) extension
  • Riot & strike, flood, storm, tempest, impact and allied perils.
  • Fire & explosion
  • Policy subject to monthly declaration.
  • Automatic reinstatement of loss.
  • Safe and books clause.
  • Replacement value clause.
  • Misdescription clause
  • Breach of warranties clause
 

EXCLUSIONS

  

o         War exclusion clause

o         Excluding mysterious disappearance.

o         Excluding theft by servant and/or agent

o         Mysterious disappearance, shrinkage, loss of weight, un-explained loss or shortage disclosed on taking inventory.

o         Misappropriation, secretion, conversion, infidelity or dishonest act on the part of insured or agent (carriers for hire excepted)

o         Liability assumed under contract.

o         Accounts, bills, currency, deeds, evidence of debt.

o         Due to forged warehouse receipts.

BASIS OF SETTLEMENT

  

Replacement