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a)
COMPUTERS
This policy comprises of 3
sections.
SECTION I : Deals with the
hardware e.g. Computer main body.
Extra covers are available for
overtime, night works, and work on public holidays by charging additional
premium. Issued along with
Maintenance Agreement clause. Terrorism risk is also covered
SECTION II : Covers external
data media or E.D.P. The sum insured
shall be the cost of the data media plus charges for producing the
information.
SECTION III :Covers increased
cost of working : (loss of profit policy)
SUM INSURED : Present day Replacement Value of computer
plus that of central processing unit, printer, stabiliser, and U.P.S. if any.
RATE : Section I and Section II
@ 1.00%
If Annual Maintenance Agreement
is not executed the premium will be
loaded by 100%. If annual maintenance agreement is not executed but the
insured has got sufficient in-house facilities for proper maintenance of the
equipments, the premium will be loaded by 50% only.
For Training purposes :
Rate 1.25% for computers with twice the excess if
with Maintenance Agreement.
Rate 2.50% for computers with twice the excess if
without Maintenance Agreement.
EXCESS
For value upto Rs. 1 lac.
-
5% of the claim amount subject to a minimum of
Rs.1000/- for normal claims and
-
10% of the claim amount subject to a minimum of Rs.2500/-
for Winchestor drive Head Crash Claim.
For value above Rs. 1 lac.
-
5% of the claim amount subject to a min. of Rs.2500/- and
-
25% of the claim amount subject to a min. of
Rs.10,000/- for Winchestor drive head Crash Claims.
SECTION IV (Increased cost of
working )
TIME EXCESS INDEMNITY PERIOD
12 weeks 26 weeks 40
weeks 52 weeks
4 days 0.70% 0.80% 0.90% 1.00%
7 days 0.65% 0.75% 0.85% 0.95%
14 days 0.50% 0.60% 0.65% 0.70%
28 days 0.30% 0.40% 0.45% 0.50%
1 day = 24 hrs. 1 week = 7 days.
Sum Insured : - Present day
Replacement value of machine and accessories.
Rate : 1.00%
If annual maintenance agreement is not executed, the premium will
be loaded by 100%.
For value over Rs. 1 lac, 5% of claim amount subject to
a minimum of Rs.2500.
Discounts for Fire Insurance :
a)
For equipments covered under EEI policy as
also under
Fire policy c with all extensions.: A
discount of 10% of the applicable EEI
rate
X-ray tubes fitted to
C.T. Scanners : - X-ray endorsement
must be attached to the EEI policy.
The rates and other terms of the policy are the same as those of computers.
Section II and III are not applicable to these equipments.
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