MASTER POLICY WORDINGS

ALLIANZ

FIRE MASTER POLICY

Allianz Global Corporate & Specialty SE Singapore Branch 12 Marina View #14-01 Asia Square Tower 2 Singapore 018961

Phone +65.62 97 25 29 Fax +65.62 97 19 56 www.agcs.allianz.com

Company’s Registration No.: T11FC0131K

Version: Allianz Fire Master Policy - Policy Wording v 3.0 (20200626)

FIRE POLICY the Property damaged or destroyed or part thereof, 1. IDENTIFICATION (c) if the Property Insured is removed from the or pay loss and damages for that Property and if the This Policy and the Schedule shall be read together Location of Risk;

This Policy is a between Allianz Global Company elects to pay loss or damage for that as one contract and any other word or expression to Corporate & Specialty SE Singapore Branch Property, the Company will pay the Insured the which a specific meaning has been attached in any (d) if the interest in the Property Insured passes (hereinafter called "the Company"), Standard amount of loss or damage, the Reinstatement Value part of this Policy or the Schedule shall bear such from the Insured otherwise than by death or Chartered Bank (Singapore) Limited (hereinafter or Sum Insured (whichever is lower) of the Property specific meaning wherever it may appear. operation of . called "the Bank" or “Mortgagee”), and the Insured Insured at the time of the happening of its stated on the Schedule (hereinafter called “the destruction, less any excess and amounts which the 2. RIGHTS AGAINST COMPANY 5. SUM INSURED Insured”), issued under this Policy. This Policy sets out Insured is required to bear under the policy. Unless otherwise expressly stated nothing contained The total liability of the Company in respect of loss the insurance provided by the Company to the herein shall give any rights against the Company to or damage thereto by all or any of the Covered Perils Insured subject to the terms, conditions and PROVIDED THAT the liability of the Company shall in any person other than the Insured. Further, the during any one Period of Insurance shall not exceed exceptions stated herein. This Policy, each Schedule no case exceed in respect of each item the sum Company shall not be bound by any passing of the the amount stated against each item respectively or issued under this Policy and any amendment form the expressed in the Schedule to be insured thereon or interest of the Insured otherwise than by death or in the aggregate the Sum Insured specified in the basis of an insurance contract. They should be read in the whole, the Sum Insured hereby or such other operation of law unless and until the Company shall Schedule, or such other sum or sums as may be together to avoid misunderstanding. sum or sums as may be substituted therefor by by endorsement hereon declare the insurance to be substituted therefor by endorsement hereon or endorsement hereon or attached hereto signed by continued. attached hereto signed by or on behalf of the This Policy is issued in of the Insured or on behalf of the Company. Company. named in each Schedule, having paid to the Company 3. RIGHT OF CLAIM the prescribed premium and pursuant to the answers PROVIDED ALWAYS that the due observance and The extension of the Company's liability in respect of 6. UNDERINSURANCE given in the Insured’s Proposal Form (or when the fulfillment of the terms conditions and endorsements the property of any person other than the Insured If the property hereby insured shall, at the time of Insured applied for this insurance) and any other of this Policy in so far as they relate to anything to be shall give no right of claim hereunder to such any loss, be collectively of greater value than the disclosures made by the Insured between the time of done or complied with by the Insured shall be person, the intention being that the Insured shall in Sum Insured thereon, then the Insured shall be submission of the Insured’s Proposal Form (or when conditions precedent to any liability of the Company all cases claim for and on behalf of such person and considered as being his own insurer for the the Insured applied for this insurance) and the time to make any payment under this Policy. the receipt of the Insured of the claim proceeds shall difference, and shall bear a rateable proportion of this contract is entered into. In the event of any pre- in any case absolutely discharge the Company's the loss accordingly. Every item, if more than one, of contractual made in relation to The coverage provided under this Allianz Fire Master liability hereunder. the Schedule shall be separately subject to this the Insured’s answers or in any disclosures made by Policy comprises: condition. the Insured, it may result in avoidance of the Policy, 4. ALTERATIONS AND REMOVALS refusal or reduction of the Insured’s claim(s), change A Allianz Fire Protect Unless the Insured has obtained the consent of the 7. NOTIFICATION (DUPLICATE COVERAGE) of terms or termination of the Policy. B Allianz Commercial Fire Protect Company in writing before the occurrence of any The Insured shall give notice to the Company of any damage, the Insurance ceases to attach regarding insurance or insurances already effected, or which THE COMPANY AGREES subject to the terms and The Company reserves the right to vary the terms the Property Insured affected under any of the may subsequently be effected, covering any of the conditions contained herein or endorsed or otherwise conditions and exclusions of the Policy by giving the following circumstances: property hereby insured and unless such notice be expressed hereon that if the Property Insured Bank 30 days’ written notice of any such variation given and the particulars of such insurance or described in the said Schedule or any part of such subject to the proposed amended terms being (a) if any circumstances affecting the Location of insurances be stated in or endorsed on this Policy by property be destroyed or damaged by the Covered agreed by the Bank. The changes as agreed between Risk as stated in the Schedule be changed in or on behalf of the Company before the occurrence Perils provided under this Policy during the Period of the Company and the Bank are binding on all of the such a way as to increase the risk of damage by of any loss or damage, all benefit under this Policy in Insurance stated in the Schedule or of any Insured without notice. any of the Covered Perils; respect of the Property Insured shall be forfeited. subsequent period in respect of which the Insured shall have paid and the Company shall have accepted POLICY CONDITIONS (b) if the Location of Risk is not occupied or vacant 8. CLAIMS (ACTION BY INSURED) for a period of more than 6 consecutive weeks; The Insured shall on the happening of any loss or the premium required for the renewal of this Policy, the Company may elect to reinstate, repair or replace damage to the Property Insured give immediate 2

notice thereof in writing to the Company and shall settlement of any proceedings and to take 13. DISPUTES RESOLUTION iii) any other statutory obligation including notice at his own expense within sixty days after the proceedings at its own expense and for its own Any dispute arising from a matter that is related to given and requirements made pursuant to same the happening of such loss or damage deliver to the benefit but in the name of the Insured to recover or in connection with this Policy shall be referred to breach and disregard which may affect or increase Company a claim in writing (in such form as the compensation or secure from any third the Financial Industry Disputes Resolution Centre the risk. Company may require) with such detailed party in respect of anything covered by this Policy. Ltd (“FIDReC”). This would apply as long as the particulars and proofs as may be reasonably dispute can be brought before FIDReC. 15. OPTION TO REINSTATE required. In the case of loss or damage by theft or 10. FORFEITURE OF BENEFITS The Company may at its option reinstate or replace any attempt thereat he shall also give immediate If any claim under this Policy shall be in any respect In the event that the dispute cannot be referred to the property damaged or destroyed, or any part notice to the Police. fraudulent or if any fraudulent means or devices are or dealt with by FIDReC, it shall be referred to and thereof instead of paying the amount of the loss or used by the Insured or any one acting on his behalf resolved by arbitration in Singapore in accordance damage, or may join with any other company or The Insured shall on receiving notice of any accident to obtain any benefit under this Policy; or, if the loss with the Arbitration Rules of the Singapore insurers in so doing, but the Company shall not be or claim arising under Section III (applicable for or damage be occasioned by the wilful act or with International Arbitration Centre which shall be bound to reinstate exactly or completely, but only as Coverage A: Allianz Fire Protect only) give the connivance of the Insured; or, if the claim be applicable at that time. circumstances permit and in reasonably sufficient immediate notice thereof in writing to the Company made and rejected and an action or suit be not manner, and in no case shall the Company be bound and as soon as possible supply full particulars commenced within twelve months after such 14. REASONABLE CARE to expend more in reinstatement than it would have thereof in writing and shall send to the Company any rejection; or (in the case of an arbitration taking The Insured shall use all reasonable diligence and cost to reinstate such property as it was at the time writ, summons or other legal process issued or place in pursuance of condition 13 of this Policy) care to keep the premises in a proper state of repair of the occurrence of such loss or damage, nor more commenced against the Insured and shall give all within twelve months after the arbitrator or and, where the Insured is the owner of the Property than the sum insured by the Company thereon. necessary information and assistance to enable the arbitrators or umpire shall have made their award, Insured, if any defect therein be discovered shall Company to settle or resist any claim or to institute all benefits hereunder shall be forfeited. cause such defect to be made good as soon as If the Company so elect to reinstate or replace any proceedings. possible and shall in the meantime cause such property the Insured shall, at his own expense, 11. NON-CANCELLATION CLAUSE additional precautions to be taken for the furnish the Company with such plans, specifications, The Insured shall not incur any expense in making The Company undertakes to advise the Bank noted prevention of injury, loss or damage as the measurements, quantities and such other good any damage without the written consent of in the Schedule at least 30 days prior to any circumstances may require and the Company shall particulars as the Company may require and no acts the Company and shall not negotiate, pay, settle, cancellation of this Policy and also to provide the not be liable for injury, loss or damage caused by a done, or caused to be done by the Company with a admit or repudiate any claim without the Company's aforesaid Bank at least 30 days prior notice of any defect which the Insured has failed to remedy after view to reinstatement or replacement shall be consent. changes or amendments which are proposed to be having received notice of such defect either from deemed an election by the Company to reinstate or made in the terms of the insurance. the Company or any person or public body. replace. 9. POSSESSION RIGHTS The Company shall be entitled:- 12. FREE LOOK PERIOD (NOT APPLICABLE TO The Insured shall notify the Company in writing in If in any case the Company shall be unable to RENEWAL POLICIES) the event of any change in the tenancy and/or reinstate or repair the property hereby insured, On the happening of any loss of or damage to the Should the Insured decide to not continue with the occupancy of the property and/or of any increase of because of any legislation, subsidiary legislation, Property Insured to enter any building where the Policy for any reason, it may be returned to the hazard and/or any alterations to the design, rules and regulations and any amendment thereto loss or damage has happened and to take and keep Company for cancellation within 14 days after the structure and material used in the Property Insured. in force affecting the alignment of streets, or the possession of the Property Insured and to deal with Insured’s receipt of the Policy. Any premium paid construction of buildings, or the use of the land, or the salvage in a reasonable manner and this Policy will be refunded without interest so long as no claim The Insured shall duly comply with and observe all otherwise, the Company shall, in every such case, or any copy thereof certified by the Company shall has arisen and the Mortgagee consents to the , regulations, codes, guidelines and the-like of: only be liable to pay such sum as would be requisite be proof of leave and license for such purpose. No cancellation. In such case, this Policy shall be i) any governmental or regulatory authority in to reinstate or repair such property if the same could property may be abandoned to the Company. deemed to have been void from the inception and Singapore responsible or having jurisdiction over fire lawfully be reinstated to its former condition. the Company shall not be liable under this Policy for safety standards; and/or To undertake in the name and on behalf of the any loss, damage or liability sustain or incur. ii) the Commissioner for Workplace Safety and 16. REINSTATEMENT VALUE Insured the absolute conduct, control and Health; and/or In the event of a loss to the Property Insured herein, 3

the Company shall pay the Sum Insured or the enforcement of judgments made outside the Company, giving 3 months' notice counting from the damage or a contingency which is not covered Reinstatement Value of the Property Insured, Republic of Singapore, whether by way of reciprocal date of such notice in writing to the other party and by this insurance, except to the extent that the whichever is the lower subject to the deduction of agreement or otherwise; and (ii) costs and expenses that all existing certificates of insurance in respect of Insured shall prove that such loss, damage or any excess and amounts which the insured is of litigation recovered by any claimant from the each Insured shall remain valid until their natural other contingency happened independently of the existence of such abnormal conditions. required to bear under the policy. Insured which are not incurred in and recoverable in expiry unless otherwise agreed by all parties

Singapore. concerned. In any action, suit or other proceeding where The "Reinstatement Value" of the Property Insured the Company alleges that by reason of the shall for the purpose of this condition be determined 19. EXCLUSION OF RIGHTS UNDER GENERAL EXCEPTIONS provisions of this General Exception any loss, by a valuation obtained by the Company from the (RIGHTS OF THIRD PARTIES) ACT damage or other contingency is not covered by manufacturer, authorised sole agent or agent, Any person or entity who is not a party to this Policy this insurance, the burden of proving that such This Policy does not cover: authorised broker, authorised distributor or building shall have no rights under the Contracts (Right of loss, damage or other contingency is covered contractor of the cost of replacement or Third Parties) Act (Cap. 53B) to enforce any terms of shall be upon the Insured. 1. Any loss, damage or other contingency reinstatement of the Property Insured damaged or the Policy. occasioned by or through or in consequence, 2. (i)(a) Loss or damage occasioned by lost. directly or indirectly, of any of the following confiscation, commandeering, requisition or 20. SUBROGATION occurrences namely:- destruction of or damage to the property by In the event that there is, at the time of damage or The Insured shall at the request and at the expense order of the Government de jure or de facto or loss no manufacturer, authorised sole agent or of the Company do and concur in doing and permit a) War, invasion, act of foreign enemy, hostilities any Public Municipal or Local Authority of the agent, authorised broker, authorised distributor or to be done all such acts and things as may be or warlike operations (whether war be declared country or area in which the property is building contractor for the Property Insured, the necessary or reasonably required by the Company or not), civil war. situated. . valuation shall be obtained from a duly qualified loss for the purpose of enforcing any rights and remedies b) Mutiny, riot, military or popular rising, (b) Loss, damage or other contingency directly adjuster to be mutually appointed by both parties. or of obtaining relief or indemnity from any other insurrection, rebellion, revolution, military or or indirectly caused by or arising from or in The valuation of the Property Insured by the parties, to which the Company shall be or would usurped power, martial law or state of siege or consequence of or contributed to by nuclear manufacturer, authorised sole agent or agent, become entitled or subrogated upon its paying or any of the events or causes which determine the weapons material. authorised broker, authorised distributor, building making good any damage under this Policy, whether proclamation or maintenance of martial law or contractor, duly qualified loss adjuster shall be such acts and things shall be or become necessary or state of siege. (ii) Loss, damage or other contingency directly conclusive in respect of the Reinstatement required before or after indemnification by the or indirectly caused by or arising from or in c) Any act of terrorism. Value of the Property Insured in any legal Company. consequence of or contributed to by ionising radiations or contamination by radioactivity proceedings against the Company. For this purpose an act of terrorism means an from any nuclear fuel or from any nuclear waste 21. BREACH OF CONDITIONS AND WARRANTIES act, including but not limited to the use of force from the combustion of nuclear fuel. Solely for 17. GEOGRAPHICAL LIMIT OF PROPERTY INSURED CLAUSE or violence and/or the threat thereof, of any the purpose of this Exception 2(ii), combustion The cover of this Policy is restricted to properties The conditions and warranties of this Policy shall person or group(s) of persons, whether acting shall include any self-sustaining process of within the territory of Singapore. apply individually to each of the risks insured and alone or on behalf of or in connection with any nuclear fission. not collectively to them. Thus a breach of any organisation(s) or government(s), committed 18. GOVERNING LAW AND JURISDICTION condition or warranty shall void the Policy only in for political, religious, ideological or similar 3. Consequential loss or damage of any kind purposes including the intention to influence This Policy shall be construed according to and respect of all risks to which that breach applied and whatsoever. any government and/or to put the public, or any governed by the laws of the Republic of Singapore. does not affect the Policy in respect of the other section of the public, in fear. 4. All claims and losses based upon, arising out of,

risks. directly or indirectly resulting from or in The indemnity provided by this Policy shall not apply Any loss, damage or other contingency consequence of, or any way involving: in respect of judgments which are not in the first 22. MASTER POLICY CANCELLATION CLAUSE happening during the existence of abnormal instance delivered by or obtained from a of This Master Policy and the Insurance of each conditions (whether physical or otherwise) (a) Asbestos, or competent jurisdiction within Singapore nor to Property Insured may be terminated at any time at which are occasioned by or through or in consequence, directly or indirectly, of any of the (b) any actual or alleged asbestos related injury orders obtained in the said Court for the the request of the Mortgagee / Bank or by the said occurrences shall be deemed to be loss, or something involving the use, presence, 4

existence, detection, removal, elimination or 10) Malicious Damage Insured against all sums for which the Insured may a) the Insured's profession or business, or avoidance of asbestos or exposure or potential 11) Sprinkler Leakage be held legally liable: b) the ownership, possession or use by or on behalf exposure to asbestos. 12) Landslip and Subsidence of the Insured of any lift, vehicle, vessel or craft

13) Smoke Damage As owner of the Residential Building in respect of of any kind. 5. Cost of repairing, cleaning or making good 14) Spontaneous Combustion accidents caused by a defect in the Residential c) the carrying out of alterations, additions, repairs drains or water courses. (Subject to provisions under Appendix A) Buildings or in the Landlord's fixtures and fittings or or decorations to the insured premises. in the walls, gates, fences and trees around and SECTION II – ADDITIONAL pertaining thereto. (ii) Liability arising out of any contract of indemnity

EXPENS E OF ALTERNATIVE Occurring during the Period of Insurance and which imposes upon the Insured liability which the PROVISIONS FOR COVERAGE A: ACCOMMODATION OR LOSS OF resulting in: Insured would not otherwise have been under. ALLIANZ FIRE PROTECT 1) Bodily injury to any person not being a member of RENT the Insured's family or household nor at the time In the event of the death of the Insured the

of sustaining such injury engaged in the Insured's Company will in respect of the liability incurred by SECTION I – LOSS OR DAMAGE TO The Company will indemnify the Insured for the service. the Insured indemnify the Insured's personal THE RESIDENTIAL BUILDING undermentioned loss actually incurred by the 2) Damage to property not belonging to or in the representatives in the terms of and subject to the Insured in consequence of the premises specified in charge of or under the control of the Insured or limitations of this Section provided that such The Company will indemnify the Insured against loss the Schedule being so damaged as to be rendered of a member of his family or household or of a personal representatives shall as though they were or damage caused by any of the below mentioned uninhabitable as a result of the Covered Perils but person in his service. the Insured observe, fulfill and be subject to the Covered Perils to the Residential Buildings which only in respect of the period necessary for Terms of this Policy so far as they can apply. expression shall mean the fabric of the building of reinstatement and subject to an amount not Provided always that the amount payable hereunder the private dwelling house or private flat owned by exceeding in the aggregate ten (10) per cent or up to in respect of any one accident or series of accidents This Section shall not apply to any part of the the Insured including domestic offices, garages, the limit as endorsed hereon of the Sum Insured on constituting one occurrence shall not in any case Residential Building used in connection with the outbuildings, landlord’s fixtures and fittings (based Buildings. exceed the sum specified in the Schedule. profession of the Insured whilst that part of the on HDB’s or the property developer’s standard Residential Building is being so used. specifications) all solely used for private residential a) as the Owner but not Occupier of the premises, The Company will, in addition, indemnify the Insured purpose but excluding foundations and drains. the loss of rent; and/or in respect of: For the purposes of this Section the expression "the b) as the Occupier of the premises, reasonable Insured” shall be deemed to include the husband or The Company will by payment or at its option by additional expense necessarily incurred for a) Legal costs and expenses recoverable from the wife of the Insured. reinstatement or repair indemnify the Insured alternative accommodation. Insured by any claimant provided such costs and against loss or damage to the Property Insured expenses were incurred before the date (if any) on The Indemnity provided by this Section shall not caused by any of the undermentioned Covered The Company shall not be liable in respect of which the Company shall have paid or offered to pay apply in respect of judgments which are not in the Perils:- consequential loss or damage of any kind except as either the full amount of the claim or the total first instance delivered by or obtained from a Court provided under this Section. The total amount amount recoverable in respect of any one of competent jurisdiction within the Republic of 1) Fire, Lightning, Thunderbolt, Subterranean Fire recoverable under this section shall be in addition to occurrence as hereinbefore provided; Singapore nor to orders obtained in the said Court 2) Explosion the Sum Insured on Buildings. for the enforcement made outside the Republic of 3) Aircraft Damage b) Legal costs and expenses incurred by the Insured Singapore whether by way of reciprocal provisions 4) Water Tanks, Apparatus or Pipes SECTION III – LIABILITY TO THE with the consent of the Company. or otherwise. If at the time any claim arises under 5) Theft PUBLIC this Section there be any other insurance 6) Impact by Road Vehicle Provided also that the Company shall not in any case indemnifying any Insured who is entitled to be 7) Earthquake, Volcanic Eruption The Company will, subject to the Limits of Liability of be liable hereunder in respect of: indemnified under this Policy, this Policy is not to be 8) Hurricane, Cyclone, Typhoon, Windstorm and SG$500,000 in respect of any one claim or series of called on in contribution and, subject to the Policy Flood claims arising out of one event, indemnify the (i) Injury or damage arising out of or incidental to: Limit of Liability of this Section, is only to pay any 9) Riot & Strike 5

amount under this Policy if and so far as such 16) Self Ignition i) each building, for which purposes all insured estimates, plans, specifications, quantities, tenders amount is not covered by any indemnity under other 17) Sprinkler Leakage buildings at the same premises specified in the and supervision necessarily incurred in the insurance. 18) Spontaneous Combustion schedule address will be regarded as one building. reinstatement of the Property Insured consequent upon its destruction or damage by fire or any other PROVISIONS FOR COVERAGE B: (subject to provisions under Appendix B) ii) each incident giving rise to such loss or damage peril hereby insured against, but not such fees for ALLIANZ COMMERCIAL FIRE and for the purposes hereof an incident shall not be preparing any claim hereunder. The amount payable considered to have terminated until there have for such fees shall not exceed those authorised PROTECT CLAUSES FORMING PART OF THE been seven (7) consecutive days freedom from the under the scales of the Associations of the MASTER POLICY Covered Perils concerned and only thereafter shall respective professions prevailing at the time of SECTION I – LOSS OR DAMAGE TO the Clause apply afresh. destruction or damage, subject to the Company's THE COMMERCIAL BUILDING 1. EXCESS CLAUSE maximum liability for any loss damage and fees not As regards loss or damage to the Property Insured 2. AUTOMATIC REINSTATEMENT OF SUM INSURED exceeding the sum insured against each item. The Company will indemnify the Insured against loss directly caused by any Covered Perils to which this In the event of any claim having occurred and in the or damage caused by any of the below mentioned Clause is hereinbefore stated to apply, the absence of written notice by the Insured to the 5. REMOVAL OF DEBRIS (10% OF THE SUM Covered Perils to the Commercial Buildings which Company's liability shall be limited to its rateable contrary the amount of insurance reduced by such INSURED) expression shall mean the fabric of Building owned proportion of the amount by which such loss or claim is to be: It is hereby declared and agreed that this Policy by the Insured solely for commercial purpose at the damage exceeds the following excess amounts: extends to cover any expense necessarily incurred Location of Risk as stated in the Schedule and shall (a) Under Coverage A, automatically reinstated as by the Insured in the removal of debris, dismantling include landlord’s fixtures and fittings therein but In respect to each and every claim under Coverage and from the date of the damage without additional or demolishing shoring up or propping of the portion excluding foundations and drains. A, the following excess applies: premium of the property insured by this Policy destroyed or The Company will by payment or at its option by (b) Under Coverage B, Insured shall undertake to pay damaged by fire or lightning or any other perils reinstatement or repair indemnify the Insured (a) Water Tank, Apparatus or Pipe: SG$100 the appropriate additional premium as may be hereby insured against. against loss or damage to the Property Insured (b) Earthquake or Volcanic Eruption: SG$200 required for such reinstatement from that date. caused by any of the undermentioned Covered (c) Hurricane, Cyclone, Typhoon, Windstorm and Provided that: Perils:- Flood: SG$200 3. ERRORS & OMISSIONS & MISDESCRIPTION (d) Landslip and Subsidence: SG$10,000 CLAUSE (a) such cost or expenses is not recoverable under 1) Fire, Lightning, Thunderbolt, Subterranean Fire (e) Smoke Damage: SG$200 The Insured and this Policy are not to be prejudiced any other policy of insurance 2) Explosion by any unintentional and/or inadvertent omission (b) the liability of the Company under this clause 3) Aircraft Damage In respect to each and every claim under Coverage error or incorrect description of the interest risk or shall in no case exceed 10% of the Sum Insured of 4) Water Tanks, Apparatus Or Pipes B, the following excess applies: Property Insured provided notice is given to the the item involved unless otherwise stated in the 5) Impact By Road Vehicle Company as soon as practicable upon discovery of Schedule, nor in all, the total policy Sum Insured 6) Earthquake, Volcanic Eruption (a) Water Tank, Apparatus or Pipe: SG$200 any such error omission or misdescription. specified in the Schedule 7) Hurricane, Cyclone, Typhoon, Windstorm And (b) Impact by Road Vehicle: SG$50 Additional premium if required shall be paid from (c) the indemnity provided by this clause shall not Flood (c) Hurricane, Cyclone, Typhoon, Windstorm and the date of the inception of the increased include costs of removing, nullifying or cleaning up 8) Riot & Strike Flood: SG$500 hazard/risk. seeping, polluting or contaminating substances. 9) Malicious Damage (d) Sonic Shock Waves: SG$500 10) Accidental Leakage or Spillage (e) Malicious Damage: SG$50 4. PROFESSIONAL FEES CLAUSE (10% OF THE SUM 6. CONTRIBUTION (DUPLICATION OF COVERAGE) 11) Sonic Shock Waves (f) Landslip and Subsidence SG$10,000 or 10% of INSURED) In the event of other policies covering the same loss 12) Acts of Civil Authorities claim whichever is greater The sum insured under each item of this Policy or damage to the Property Insured, the Company 13) Smoke Damage includes an amount not exceeding 10% of the will settle the claim as if this insurance is the only 14) Tsunami or Tidal Wave This Clause shall separately apply to: respective sum insured in regards to: Architect's, applicable policy and will then proceed to recover 15) Landslip and Subsidence Surveyor's and Consulting Engineer's fees for from the other insurers. 6

Period of Insurance does not exceed $2,500/- or as prejudice the right to recover for loss occurring in 15. HEATING AND POWER CLAUSE 7. CAPITAL ADDITIONS CLAUSE otherwise specified in the Schedule. any building covered or containing the property (this clause only applies to Coverage B) (this clause only applies to Coverage B) covered with regard to which, at the time of a loss, The use of electric gas and other lighting, heating The Insurance extends to include alterations, 10. COST OF RE-ERECTION CLAUSE a breach of condition does not exist. and power usual to trades and occupations is additions and improvements (but not appreciation (this clause only applies to Coverage B) allowed as provided by Law, Bye-law or Municipal in value in excess of the sums insured) to property The insurance under this Policy extends to include 14. FIRE EXTINGUISHING EXPENSES CLAUSE Regulations. specified in the Schedule for an amount not the cost of re-erecting, fitting and fixing machinery (this clause only applies to Coverage B) exceeding 10% of the sum(s) insured hereby or and plant in consequence of destruction or damage It is hereby declared and agreed that 16. INTERNAL REMOVAL CLAUSE $500,000/- whichever is less, it being understood by any of the perils hereby insured against, provided notwithstanding anything in the within Policy (this clause only applies to Coverage B) that the Insured undertake to advise the Company that the total amount recoverable under any item in contained to the contrary but subject to the provisos It is understood and agreed that in the event of each quarter of such alterations, additions and the Schedule shall not exceed the sum insured set hereinafter contained, the insurance under this removal of property from one building to another at improvements and to pay the appropriate additional against such item. Policy extends to include: any of the Situation(s) stated in the Schedule being premium thereon. inadvertently not advised to the Company the 11. COST OF TEMPORARY PROTECTION CLAUSE (1) wages of the Insured's employees, other than insurance on such property shall follow removal, the Note: This clause is only concerned with capital (this clause only applies to Coverage B) full time members of a Works Fire Brigade necessary adjustments in sums insured and additions and is confined to buildings, fixtures and The Company agrees that upon the happening of premium being made as from the date of removal as fittings and/or fixed plant and machinery. any event giving rise to a claim under this Policy, the (2) cost of replenishment of the fighting appliances soon as the oversight is discovered. Company will indemnify the Insured in respect of the and destruction of or damage to such appliances 8. CONTROL OF PROPERTY CLAUSE costs of temporary shuttering, boarding up and/or (including employees' personal effects and 17. LEASED PROPERTY CLAUSE (this clause only applies to Coverage B) other protection reasonably and necessarily clothing) unless otherwise specifically insured (this clause only applies to Coverage B) This insurance shall not be prejudiced by any act or incurred for the safeguarding of the premises and/or neglect of any person (other than the named contents pending repair/replacement, provided that and shall in no case exceed the sum of $2,500/- This Policy extends to indemnify any other party Insured) when such act or neglect is not within the the total liability of the Company during any one having an interest in the property insured by virtue control of the named Insured. period of insurance for all such costs shall be limited Provided always that the liability of the Company of and in accordance with the terms of a Mortgage, to $2,500/- or as otherwise specified in the in respect of such costs shall be limited to those Leasing, Hiring or Renting Agreement, provided such 9. COSTS OF RE-COMPILING RECORDS & CLAIM Schedule. necessarily and reasonably incurred in property is not more specifically insured. PREPARATION CLAUSE extinguishing fire at or adjoining the situation of (this clause only applies to Coverage B) 12. DESIGNATION OF PROPERTY CLAUSE the property insured by this Policy or immediately 18. LOSS PAYEE CLAUSE This Policy is extended to cover: (this clause only applies to Coverage B) threatening to involve such property. (this clause only applies to Coverage B) For the purpose of determining where necessary the It is understood and agreed that the Bank named in (a) the cost of re-compiling records but only for the item under which any property is insured the Provided further that otherwise the insurance the Schedule are interested in any monies which but value of the materials used together with the costs Company agrees to accept the designation under under this Endorsement and the Policy shall be for this endorsement would be payable to the of clerical labour expended in producing such which such property has been entered in the subject to all the terms, limitations, stipulations, Insured under this Policy in respect of loss of or records and Insured's Books. provisos and exceptions printed on, expressed in, damage to the insured property and such monies endorsed upon or attached to the shall be paid to the Bank until such time as notice is (b) reasonable charges incurred by the Insured in 13. DIVISIBLE CONTROL CLAUSE given by them to the Company that they have no producing and certifying any information as may (this clause only applies to Coverage B) Policy and provided also that all the conditions of further financial interest in the insured property and be required by the Company under the terms of If this Policy, by this endorsement, covers two or the Policy (except insofar as they may be hereby their receipt shall be a full and final discharge to the the Policy. more buildings or the contents of two or more varied) shall apply as if they had been incorporated Company in respect of such loss or damage. buildings, the breach of any conditions of the Policy herein. Provided that the total aggregate amount with regard to any one or more of the buildings Save as by this endorsement expressly agreed, recoverable under this extension during any one covered or containing the property covered shall not nothing in this memorandum shall modify or affect 7

the rights and liability of the Insured or the Company (this clause only applies to Coverage B) renovation, modification, repair or other similar value (less depreciation if any) of the Property respectively under or in connection with the Policy. The insurance by this Policy relating to machinery purpose, elsewhere on the same premises or to any Insured whichever is lower and that this insurance in and equipment extends to include telephone, gas, other premises and so far as concerns the interest therein of the And it is further agreed that whenever the Company water and electric instruments, meters, piping, Mortgagees or said Assignees only shall not be shall pay the said Bank any sum in respect of loss or cabling and the like and accessories thereof (b) while in transit to and from such premises by invalidated by any act or neglect of the Mortgagor or damage under this Policy and shall claim that as to including similar property in adjoining yards or road, rail or inland waterway, all in the Republic of Owner of the Property Insured, nor by anything the Insured or Owner no liability therefore existed, roadways or underground all the property of the Singapore or Malaysia. whereby the risk is increased being one to, upon or the Company shall become legally subrogated to all Insured or of suppliers or others for which the in any building hereby insured, without the the rights of the Bank to the extent of such payment Insured is responsible. The amount recoverable under this extension in knowledge of the Mortgagees or said Assignees but not so as to impair the right of the said Bank to respect of the property so removed shall not exceed provided always that the Mortgagees or said recover the full amount of any claim it may have on 23. SUE AND LABOUR CLAUSE the amount which would have been recoverable had Assignees shall notify the Company of any change of such Insured or Owner or on any other party or (this clause only applies to Coverage B) the loss occurred in that part of the premises from ownership or alteration or increase of hazard not parties insured under this Policy or from any In the event of any reasonable expenses being which the property is temporarily removed. permitted by this insurance so soon as any such securities of funds available. incurred by the Insured in their efforts to recover change, alteration or increase shall come to their safeguard or preserve the property insured to This extension does not apply to: knowledge, and on demand shall pay to the 19. LOSS NOTIFICATION CLAUSE minimise any loss as insured by the Policy or to Company the appropriate additional premium from (this clause only applies to Coverage B) prosecute in the Insured's own name any claim for (1) property if and so far as it is otherwise insured; the time when such increase of risk first took place. Notwithstanding anything contained herein to the indemnity or damage or otherwise against any contrary, it is agreed that this insurance will not be persons in respect of such loss the Company shall (2) stock and merchandise of every description; And it is further agreed that whenever the Company prejudiced by any inadvertent delays, errors or pay such expenses but if the property insured be shall pay the Mortgagees or said Assignees any sum omission in notifying the Company of any insured for less than its value at the time of the (3) motor vehicles and motor chassis as regard for loss or damage under this Policy, and shall claim circumstances or events giving rise or likely to give rise to a claim under this Policy. occurrence giving rise to such expenditure the losses occurring elsewhere than at the premises that as to the Mortgagor or Owner no liability amount recoverable under this memorandum shall from which such property is temporarily removed; therefore existed the Company shall at once be 20. OUTBUILDING CLAUSE be reduced in proportion to the under-insurance. legally subrogated to all rights of the Mortgagees or (this clause only applies to Coverage B) (4) property (other than machinery and plant) held said Assignees to the extent of such payment and The insurance by each item under buildings is Provided always that: by the Insured in trust as regard losses occurring the Mortgagees or said Assignees shall do and understood to include walls, gates, and fences, small elsewhere than at the premises from which such execute all such further or other acts, deeds, outside buildings, extensions, annexes, exterior (a) the approval of the Company in writing shall first property is temporarily removed. transfers, assignments, instruments and things as staircase, fuel installations, steel or iron framework be obtained before such expenses are incurred and may be necessary or be reasonably required by the and tanks in the said premises and the insurance by 25. NON REGISTERED MORTGAGEE INTEREST Company for the purpose of better effecting such each item under contents extends to include the (b) the liability of the Company to indemnify the PROPERTIES NOT GOVERNED BY BUILDING subrogation, but such subrogation shall not impair contents of each outbuilding. Insured for any such loss and such expenses will not, MAINTENANCE AND STRATA MANAGEMENT ACT the right of the Mortgagees or said Assignees to when added together, exceed the sum insured in Loss, if any, under this Policy shall be payable to recover the full amount of their claim. 21. PAYMENT ON ACCOUNT CLAUSE respect of that loss. Mortgagees if named in each Certificate or Schedule (this clause only applies to Coverage B) or Assignees of mortgagee interest to the extent of Provided that as between the Company and the It is hereby declared and agreed that payments on 24. TEMPORARY REMOVAL CLAUSE their interest, and their receipt(s) shall be a full and Mortgagor or Owner of the Property Insured accounts will be made to the insured following a (this clause only applies to Coverage B) final discharge to the Company. nothing contained in this clause shall in any way loss, if desired, on production of a statement of Each item of property insured under this Policy is constitute or be deemed to constitute any waiver of, claim certified by the assessor appointed by the covered up to a limit of 10% of the sum insured in It is hereby agreed that in the event of loss or or prejudice or affect any rights which the Company Company. respect of such item: damage, the Company will pay the Mortgagees or may have against the Mortgagor or Owner of the said Assignees to the extent of their interest but not Property Insured, or lessen any obligations which 22. SERVICES CLAUSE (a) while temporarily removed for cleaning, exceeding the sum insured or the reinstatement may be imposed on the Mortgagor or Owner of the 8

Property Insured either by or under this Policy or by "If at the time of any loss or damage insured by this to the excesses herein. 2. EXPLOSION law, and such rights and obligations shall as between policy there be any other subsisting policy or policies Loss or damage to the Property Insured caused by the Company and the Mortgagor or Owner of the effected under or by reason of section 73 of the For the purpose of the foregoing, the explosion, but excluding loss of or damage to boilers, Property Insured remain in full force and effect. Building Maintenance And Strata Management Act commencement of any such 72 hours period shall be economisers, or other vessels, machinery or 2004 covering the same risk and relating to the same decided at the discretion of the Insured. It being apparatus in which pressure is used or their contents 26. REGISTERED MORTGAGEE INTEREST debt the Company shall not be liable to pay or understood and agreed, however, that there shall be resulting from their explosion. PROPERTIES GOVERNED BY BUILDING contribute more than its rateable proportion of such no overlapping in any two or more such 72 hours MAINTENANCE AND STRATA MANAGEMENT ACT loss or damage." period in the extent of damage occurring over a 3. AIRCRAFT DAMAGE This section is only applicable to Property Insured more extended period of time. Loss or damage directly caused by aircraft and other where insurance is taken up pursuant to Section 73 27. ALTERATIONS AND REPAIRS CLAUSE aerial or spatial devices and articles dropped of the Building Maintenance and Strata Workmen are allowed in or about any of the 31. AWNINGS AND BLINDS CLAUSE therefrom, excluding damage caused by any aircraft Management Act (Cap. 30C) (or any Amendment Act buildings or premises insured for the purpose of (this clause only applies to Coverage B) for which permission to land has been extended by or Acts passed in substitution) of Singapore, which carrying out minor alterations, decorations, repairs Awnings, blinds, signs or other outdoor fixtures or the Insured. will from hereon be referred to as the Act. and general maintenance without prejudice to the fittings of any description are covered provided that terms of this insurance. the Company's liability under this extension shall not 4. WATER TANKS, APPARATUS OR PIPES This Policy is effected only for the interest of the in the aggregate exceed $10,000/-. Loss or damage caused by bursting or overflowing of Mortgagee to whom all monies due under the policy 28. APPRAISEMENT CLAUSE domestic water tanks, apparatus or pipes but shall be payable subject always to the provisions of (this clause only applies to Coverage B) 32. AUTOMATIC RENEWAL CLAUSE excluding:- the said Act and the rights of the Company If the aggregate claim for any loss does not exceed The insurance provided to each individual Insured thereunder. $5,000/- or 5% (percent) of the Sum Insured under this Policy shall be automatically renewed (a) in respect of each and every loss the excess whichever is the lesser amount by the item or items upon expiry unless:- amount stated in Clause 1: Excess Clause; It is hereby agreed that this policy shall not be affected no special inventory or appraisement of the invalidated by any change of occupancy or increase undamaged property shall be required. (a) the Company gives notice in writing within 30 (b) Damage to water tanks, apparatus and pipes of risk taking place in the Property Insured without days to the individual Insured and the Mortgagee and all expenses for tracing the source of the the knowledge of the registered mortgagees. 29. AUTOMOBILES CLAUSE (b) the individual Insured gives notice in writing leak.

(this clause only applies to Coverage B) within 30 days to the Company enclosing the 5. THEFT The maximum amount payable will be the lowest of The housing of automobiles is allowed, and it is Mortgagees consent in writing Loss or damage caused by theft, only if accompanied the following: warranted that no inflammable spirit intended for by actual forcible and violent breaking into or out of (a) the sum insured fuel in connection therewith be at any time in the prior to the expiry of the current Period of Insurance. a Residential Building or any attempt thereat but (b) the outstanding loan amount at the date of loss portion of the building under the control of the excluding:- to discharge the mortgages and charges (if any) Insured, other than that contained in the reservoirs affecting the Property Insured of such automobiles or in approved underground APPENDIX A: (a) loss by theft during or after the occurrence of (c) the reinstatement value storage systems or in sealed metal containers. DESCRIPTION OF COVERED a fire. PERILS

The following Clauses and Conditions are deemed to 30. TIME ADJUSTMENT CLAUSE (Appendix A is only applicable to Coverage A: Allianz 6. IMPACT BY ROAD VEHICLE be deleted and shall not apply: (this clause only applies to Coverage B) Fire Protect) Loss or damage caused by impact to the Property Clause 2: Automatic Reinstatement of Sum Insured It is hereby declared and agreed that any loss of or Insured by any road vehicles or animals not Clause 4: Professional Fees Clause damage to the insured property arising during any 1. FIRE, LIGHTNING, THUNDERBOLT, belonging to or under the control of the Insured or one period of 72 consecutive hours caused by storm, SUBTERRANEAN FIRE any member of his family normally residing with It is further agreed that Clause 6 Contribution tempest, flood or earthquake and volcano eruption Loss or damage to the Property Insured caused by him. (Duplication of Coverage) is deemed to have been shall be deemed as a single event and therefore to fire, lightning, thunderbolt or subterranean fire. deleted and the clause shall now read as follows: constitute one occurrence or accident with regards 9

7. EARTHQUAKE, VOLCANIC ERUPTION courses, bursting or overflowing of public water any attempt thereat or caused by any person condition nor if the Insured is himself aware of Loss or damage directly caused by or through or in mains and any other flow or accumulation of water taking part therein. defect in construction or condition. consequence of earthquake and volcanic eruption not originating from flows or accumulations in or but excluding:- on the building insured or containing the Property 11. SPRINKLER LEAKAGE 12. LANDSLIP AND SUBSIDENCE Insured. Loss or damage to the Property Insured directly Loss or damage to the Property Insured caused by (a) in respect of each and every loss the excess caused by water or other fire extinguishing agent landslip or subsidence and/or heave of the site on amount stated in Clause 1: Excess Clause. 9. RIOT & STRIKE accidentally discharged or leaking from the which the buildings stand or land belonging thereto, Loss of or damage to the Property Insured directly automatic sprinkler installation and/or drencher excluding:- 8. HURRICANE, CYCLONE, TYPHOON, WINDSTORM caused by:- and/or fire suppression or extinguishing installation AND FLOOD or apparatus installed in the Property Insured. a) in respect of each and every loss the excess Loss or damage directly caused by or through or in (a) the act of any person taking part together with amount stated in Clause 1: Excess Clause. consequence of Hurricane, Cyclone, Typhoon and others in any disturbance of the public peace This insurance does not cover loss or damage Windstorm but excluding:- (whether in connection with a strike or lock- occasioned by or through or in consequence of:- b) loss or damage to swimming pools, terraces, out or not) patios, drives, footpaths, walls, gates or fences (a) in respect of each and every loss the excess a) explosion, the blowing up of buildings or unless the building, its outbuildings or garages amount stated in Clause 1: Excess Clause; (b) The action of any lawfully constituted blasting are damaged by the same cause and at the authority in suppressing or attempting to b) the order of any authority same time. (b) metal smoke stacks, awnings, blinds, signs or suppress any such disturbance or in minimizing c) heat caused by fire other outdoor fixtures and fittings; the consequences of any such disturbance. d) repairs or alterations to the buildings or c) loss or damage to or resulting from movement premises of solid floor slabs unless the foundation (c) premises in the course of construction, (c) The wilful act of any striker or locked-out e) the automatic sprinkler installation being beneath the external walls of the Property alteration or repair except when all outside worker done in furtherance of a strike or in either repaired, removed or extended. Insured are damaged by the same cause and at doors, windows and other openings are resistance to a lock-out. the same time. complete and protected against typhoon or No liability shall attach if the Property Insured or windstorm unless specifically insured. (d) The action of any lawfully constituted containing the Property Insured becomes d) loss or damage occasioned by happening authority in preventing or attempting to unoccupied and so remains for a period of more through, or in consequence of: (d) any loss or damage caused by water or rain, prevent any such act or in minimizing the than thirty (30) days unless the Insured obtains the * coastal or river erosion. whether driven by wind or not unless the consequences of any such act. sanction of the Company signified by endorsement * demolition, structural alteration or building insured or containing the Property upon the Policy. structural repair. Insured shall first sustain actual damage to the 10. MALICIOUS DAMAGE * defective design or inadequate roof or walls of same by the direct force of Loss or damage to the Property Insured directly Special Conditions: construction of foundations. Hurricane, Cyclone, Typhoon and Windstorm caused by the malicious act of any person (whether a) The Insured shall at all times during the and shall then be liable only for such damage or not such act is committed in the course of a currency of this Policy take all reasonable steps 13. SMOKE DAMAGE to the interior of the building or the insured disturbance of the public peace) not being an act to maintain in proper working order the Loss or damage to the Property Insured directly property therein as may be caused by water or amounting to or committed in connection with an installation of Automatic Sprinklers, including caused by smoke due to a sudden, unusual and rain entering the building through openings in occurrence mentioned in General Exception 1 but the Automatic Alarm signal. faulty operation of any heating or cooking unit, only the roof or walls made by the direct force of excluding:- when such unit is connected to a chimney by the said perils. b) The Company shall not be responsible for loss exhaust pipe or vent pipe, and while in or on the (a) goods in the open air; or damage which may occur after notice has described premises but not smoke from fire-places For the purpose of this Policy, flood shall mean the been given to the Insured by the Company that or industrial apparatus, excluding:- over-flowing or from their normal (b) loss or damage arising out of or in the course Sprinkler Installations is/are liable to accident channels of either natural or artificial water of burglary, housebreaking, theft or larceny or by reason of defective construction or a) in respect of each and every loss the excess 10

amount stated in Clause 1: Excess Clause. leak. and shall then be liable only for such damage or not such act is committed in the course of a to the interior of the building or the insured disturbance of the public peace) not being an act 14. SPONTANEOUS COMBUSTION 5. IMPACT BY ROAD VEHICLE property therein as may be caused by water or amounting to or committed in connection with an Loss or damage to the Property Insured caused by its Loss or damage caused by impact to the Property rain entering the building through openings in occurrence mentioned in General Exception 1 but own spontaneous fermentation, heating or Insured by any road vehicles or animals not the roof or walls made by the direct force of excluding:- combustion. belonging to or under the control of the Insured or the said perils. any member of his family normally residing with him (a) in respect of each and every loss the excess APPENDIX B: but excluding: For the purpose of this Policy, flood shall mean the amount stated in Clause 1: Excess Clause; DESCRIPTION OF COVERED over-flowing or deviation from their normal (a) in respect of each and every loss the excess channels of either natural or artificial water (b) goods in the open air; PERILS (Appendix B is only applicable to Coverage B: Allianz amount stated in Clause 1: Excess Clause. courses, bursting or overflowing of public water Commercial Fire Protect) mains and any other flow or accumulation of water (c) loss or damage arising out of or in the course 6. EARTHQUAKE, EARTHQUAKE SHOCK, VOLCANIC not originating from flows or accumulations in or of burglary, housebreaking, theft or larceny or 1. FIRE, LIGHTNING, THUNDERBOLT, ERUPTION on the building insured or containing the Property any attempt thereat or caused by any person SUBTERRANEAN FIRE Loss or damage directly caused by or through or in Insured. taking part therein. Loss or damage to the Property Insured caused by consequence of earthquake, earthquake shock and fire, lightning, thunderbolt or subterranean fire. volcanic eruption. 8. RIOT & STRIKE 10. ACCIDENTAL LEAKAGE OR SPILLAGE Loss of or damage to the Property Insured directly Loss or damage to the Property Insured caused by 2. EXPLOSION 7. HURRICANE, CYCLONE, TYPHOON, WINDSTORM caused by:- accidental leakage or spillage of any gas vapour Loss or damage to the Property Insured caused by AND FLOOD liquid (other than water) or molten material but explosion, but excluding loss of or damage to boilers, Loss or damage directly caused by or through or in (a) the act of any person taking part together with excluding:- economisers, or other vessels, machinery or consequence of Hurricane, Cyclone, Typhoon and others in any disturbance of the public peace apparatus in which pressure is used or their contents Windstorm but excluding:- (whether in connection with a strike or lock- a) Damage to, or loss, destruction, pollution or resulting from their explosion. out or not) contamination of land, water and air. (a) in respect of each and every loss the excess 3. AIRCRAFT DAMAGE amount stated in Clause 1: Excess Clause; (b) The action of any lawfully constituted b) Loss or destruction of or damage to such Loss or damage directly caused by aircraft and other authority in suppressing or attempting to escaped gas, vapour, liquid or molten material. aerial or spatial devices and articles dropped (b) metal smoke stacks, awnings, blinds, signs or suppress any such disturbance or in minimizing therefrom, excluding damage caused by any aircraft other outdoor fixtures and fittings; the consequences of any such disturbance. c) Costs of rectifying the fault which permitted the for which permission to land has been extended by leakage or spillage to take place. the Insured. (c) premises in the course of construction, (c) The wilful act of any striker or locked-out alteration or repair except when all outside worker done in furtherance of a strike or in d) Costs of removing, nullifying or cleaning-up 4. WATER TANKS, APPARATUS OR PIPES doors, windows and other openings are resistance to a lock-out. seeping, polluting or contaminating substances. Loss or damage caused by bursting or overflowing of complete and protected against typhoon or domestic water tanks, apparatus or pipes but windstorm unless specifically insured. (d) The action of any lawfully constituted e) Loss or destruction of or damage to goods in excluding:- authority in preventing or attempting to transit. (d) any loss or damage caused by water or rain, prevent any such act or in minimizing the (a) in respect of each and every loss the excess whether driven by wind or not unless the consequences of any such act. f) loss, damage or destruction caused by or amount stated in Clause 1: Excess Clause; building insured or containing the Property happening during the course of repairs or Insured shall first sustain actual damage to the 9. MALICIOUS DAMAGE alterations. (b) Damage to water tanks, apparatus and pipes roof or walls of same by the direct force of Loss or damage to the Property Insured directly and all expenses for tracing the source of the Hurricane, Cyclone, Typhoon and Windstorm caused by the malicious act of any person (whether g) loss or destruction of or damage to that unit of 11

plant, machinery or apparatus used for the excluding:- actual burning out of such part or parts by the currency of this Policy take all reasonable steps containment dispensing or transmission of any electric current therein, excluding to maintain in proper working order the gas, vapour, liquid or molten material which has a) in respect of each and every loss the excess installation of Automatic Sprinklers, including escaped or leaked therefrom. amount stated in Clause 1: Excess Clause; a) loss of use, depreciation, wear and tear. the Automatic Alarm signal.

11. SONIC SHOCK WAVES b) loss or damage to swimming pools, terraces, b) loss, damage or destruction to b) The Company shall not be responsible for loss Loss or damage to the Property Insured caused by patios, drives, footpaths, walls, gates or fences or damage which may occur after notice has sonic shock waves or sonic boom, excluding:- unless the building, its outbuildings or garages i) lighting or heating elements, fuses or been given to the Insured by the Company that are damaged by the same cause and at the protective devices, or Sprinkler Installations is/are liable to accident a) in respect of each and every loss the excess same time; by reason of defective construction or amount stated in Clause 1: Excess Clause. ii) electrical contacts at which sparking or condition nor if the Insured is himself aware of c) loss or damage to or resulting from movement arcing occurs in ordinary working. defect in construction or condition. 12. ACTS OF CIVIL AUTHORITIES of solid floor slabs unless the foundation Loss or damage to the Property Insured directly beneath the external walls of the Property 17. SPRINKLER LEAKAGE 18. SPONTANEOUS COMBUSTION caused by the order of any lawfully constituted civil Insured are damaged by the same cause and at Loss or damage to the Property Insured directly Loss or damage to the Property authority for the prevention of fire or other Covered the same time; caused by water or other fire extinguishing agent Insured caused by its own Perils insured under the Policy. accidentally discharged or leaking from the 13. SMOKE DAMAGE d) loss or damage occasioned by happening automatic sprinkler installation and/or drencher spontaneous fermentation, heating or Loss or damage to the Property Insured directly through, or in consequence of: and/or fire suppression or extinguishing installation combustion. caused by smoke due to a sudden, unusual and * coastal or river erosion. or apparatus installed in the Property Insured. faulty operation of any heating or cooking unit, only * demolition, structural alteration or structural GOODS AND SERVICES TAX when such unit is connected to a chimney by repair. This insurance does not cover loss or damage IMPACT ON CLAIMS exhaust pipe or vent pipe, and while in or on the * defective design or inadequate construction occasioned by or through or in consequence of:- SETTLEMENT described premises but not smoke from fire-places of foundations. Claims Settlement or industrial apparatus, excluding:- a) explosion, the blowing up of buildings or We will pay your claim inclusive of the GST on items Special Conditions: blasting which are taxable supplies, up to the limit of the Sum (a) in respect of each and every loss the excess a) The liability of the Company shall in no case b) the order of any authority Insured. amount stated in Clause 1: Excess Clause. exceed the Sum Insured. c) heat caused by fire b) The Insured shall at all times during the d) repairs or alterations to the buildings or In the event that you are entitled to claim for the Input 14. TSUNAMI OR TIDAL WAVE currency of this Policy take all reasonable steps premises Tax Credit and if we make a payment under this policy Loss or damage directly caused by or through or in to maintain the property in good and e) the automatic sprinkler installation being as compensation to you, we will reduce the amount of consequence of Tsunami or Tidal Wave but substantial state of repair. either repaired, removed or extended. the payment by deducting your Input Tax Credit excluding:- entitlement irrespective of whether you have or have 16. SELF IGNITION No liability shall attach if the Property Insured or not claimed the Input Tax Credit, up to the limit of the a) Tidal surge Loss or damage to the Property Insured directly containing the Property Insured becomes Sum Insured. caused by any part or parts of electrical machines unoccupied and so remains for a period of more b) The rise or fall of tides not exceeding 1.5kw (2h.p.), electrical installations than thirty (30) days unless the Insured obtains the Determining the adequacy of the Sum Insured or apparatus (excluding radio, television, audio and sanction of the Company signified by endorsement If the subject matter hereby insured (inclusive of the 15. LANDSLIP AND SUBSIDENCE electronic equipment of every description, vacuum upon the Policy. GST) shall, on the happening of an insured peril, be Loss or damage to the Property Insured caused by tubes and thermionic valves in any apparatus and collectively of greater value than the Sum Insured landslip or subsidence and/or heave of the site on flexible or trailing leads from the point of permanent Special Conditions: thereon, then the Insured shall be considered as being which the buildings stand or land belonging thereto, electrical supply to any apparatus) caused by the a) The Insured shall at all times during the his own insurer for the difference, and shall bear a 12

rateable proportion of the loss accordingly. Every Payment Before Cover Warranty (For Non-Corporate incurred before that date and the Company will be under the Policy, Renewal Certificate or Cover Note. insured item, if more than one, of the policy shall be Insured) entitled to a pro-rata time on risk premium plus separately subject to this condition. prevailing Goods & Services Tax. 2. In the event that any premium due is not paid and 1. Notwithstanding anything herein contained but actually received in full by the Company (or the In the event that you are entitled for the Input Tax subject to clause 2 hereof, it is hereby agreed and Condition Precedent (For Corporate Insured) intermediary through whom this Policy was effected) Credit on each of the insured item(s), the value as declared that the total premium due must be paid and within the sixty (60) day period referred to above, stated above will be reduced by deducting your Input actually received in full by the Company (or the The validity of this Policy is subject to the condition then: Tax Credit entitlement in determining the adequacy of intermediary through whom this Policy was effected) precedent that: the Sum Insured. on or before the inception date (the “Inception Date”) a) the cover under the Policy, Renewal Certificate, of the coverage under the Policy, Renewal Certificate, a) for the risk insured, the Insured has never had any Cover Note or Endorsement is automatically SANCTION LIMITATION AND Cover Note or Endorsement. insurance terminated in the last twelve (12) months terminated immediately after the expiry of the said EXCLUSION CLAUSE due solely or in part to a breach of any premium sixty (60) day period; 2. In the event that the total premium due is not paid payment condition; or

and actually received in full by the Company (or the b) the automatic termination of the cover shall be No Insurer shall be deemed to provide cover and no intermediary through whom this Policy was effected) b) if the Insured has declared that it has breached any without prejudice to any liability incurred within the Insurer shall be liable to pay any claim or provide any on or before the Inception Date referred to above, premium payment condition in respect of a previous said sixty (60) day period; and benefit hereunder to the extent that the provision of then the Policy, Renewal Certificate, Cover Note and policy taken up with another insurer in the last such cover, payment of such claim or provision of such Endorsement shall not attach and no benefits twelve (12) months: c) the Company shall be entitled to a pro-rata time benefit would expose that Insurer to any sanction, whatsoever shall be payable by the Company. Any on risk premium. prohibition or restriction under United Nations payment received thereafter shall be of no effect i) the Insured has fully paid all outstanding premium resolutions or the trade or economic sanctions, laws whatsoever as cover never attached on the Policy, for time on risk calculated by the previous insurer 3. If the Period of Insurance is less than sixty (60) or regulations of the European Union, United States of Renewal Certificate, Cover Note and Endorsement. based on the customary short period rate in respect days, any premium due must be paid and actually America and/or any other applicable national of the previous policy; and received in full by the Company (or the intermediary economic or trade sanction law or regulations. 3. In respect of insurance coverage with Free Look through whom this Policy was effected) within the

provision, the Insured may return the original policy ii) a copy of the written confirmation from the period of insurance. POLICY OWNERS’ PROTECTION document to the Company or intermediary within previous insurer to this effect is first provided by the SCHEME the Free Look period if the Insured decides to cancel Insured to the Company before cover incepts. PERSONAL DATA USE

the cover during the Free Look period. In such an This policy is protected under the Policy Owners’ event, the Insured will receive a full refund of the Premium Payment Warranty (For Corporate Protection Scheme which is administered by the premium paid to the Company provided that no Insured) Any information collected or obtained in relation to Singapore Deposit Insurance Corporation (SDIC). claim has been made under the insurance and the this Policy, whether contained in the Insured’s Coverage for the Insured’s policy is automatic and no cover shall be treated as if never put in place. 1. Notwithstanding anything herein contained but application or otherwise obtained may be used and / further action is required from the Insured. For more subject to clause 2 hereof, it is hereby agreed and or disclosed to the Company’s associated information on the types of benefits that are covered 4. In the event that any of the above mentioned declared that if the Period of Insurance is sixty (60) individuals/companies within Allianz Group or any under the scheme as well as the limits of coverage, premium due is not paid in full to the Company as days or more, any premium due must be paid and independent third parties (within or outside where applicable, please contact the Company or visit described in the manner and within the time actually received in full by the Company (or the Singapore) for any matters relating to the Insured’s the GIA or SDIC websites (www.gia.org.sg or stipulated above (the "premium warranty period"), intermediary through whom this Policy was effected) application, any policy issued and to provide advice www.sdic.org.sg). the cover under this Policy, Renewal Certificate or within sixty (60) days of the: or information about the Company’s products and Cover Note shall be deemed to have terminated from services which the Company believe may be of PREMIUM WARRANTY the expiry of the premium warranty period and the a) inception date of the coverage under the Policy, interest to the Insured and to communicate with the Company shall be discharged from all liability Renewal Certificate or Cover Note; or Insured for any purpose. The Insured’s data may also therefrom but without prejudice to any liability b) effective date of each Endorsement, if any, issued be used for audit, business analysis and reinsurance 13

purposes.

The Company may collect, use, disclose and/or process the Insured’s data in accordance with the Personal Data Protection Act 2012 for the purposes and uses described in the Company’s Privacy Policy. The Privacy Policy can be found at the Company’s website.

NOTICE

For all intents and purposes where there is a conflict or ambiguity as to the meaning in provisions of other languages of any part of the Contract, it is hereby agreed that the English version of the Contract shall prevail.

THIS POLICY AND ITS CONDITIONS SHOULD BE EXAMINED AND IF INCORRECT, RETURNED AT ONCE FOR ALTERATION.

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