This class of insurance is specially designed to
cover the computer systems and is divided into 3
main sections namely Section I (Material Damage),
Section II (External Data Media) and Section III
(Increased Cost of Working).
Cover
•
Section I (Material
Damage)
The Insurer will indemnify the Insured
against any unforeseen and sudden physical
loss or damage to the interest insured from
any cause, other than those specifically
excluded from the policy.
•
Section II (External Data
Media)
The Insurer will indemnify the Insured if
the external data media entered in the
Schedule inclusive of information stored
thereon shall suffer any material damage
covered by Section I, the cost of restoring
the Insured external data media by replacing
lost or damaged data media by new material
and reproducing lost information.
Subject to special exclusions to Section II.
•
Section III (Increased
Cost of Working)
The Insurer will indemnify the Insured for
any additional expenditure incurred for the
use of substitute EDP equipment not covered
under this policy up to an amount not
exceeding the agreed sum insured entered in
the Schedule provided cause of damage/lost
is indemnifiable by Section I of the policy.
Interest Insured
• Section I: On
all computer systems
• Section II:
External data media
• Section III:
Increased cost of working
Major Exclusions
a.
Wilful act or wilful
negligence of the Insured or his
representatives
b.
War and kindred risks
c.
Wear and tear
d.
Loss or damage for which the
manufacturer or supplier is responsible
either by law or under contract
