The Oriental Insurance Company Limited

STANDARD FIRE & SPECIAL PERILS POLICY (SFSP)

SFSP Policy - Standard Add-on Covers

1. Architects, Surveyors and Consulting Engineers Fees (in excess of 3% of the claim amount)

“In consideration of the payment of additional premium, it is hereby declared and understood that the expenses incurred towards Architects, Surveyors
and Consulting Engineers fees for plans, specification tenders, quantities and services in connection with the superintendence of the reinstatement for the
Building, Machinery, Accessories and equipment insured under this policy upto 7.5% of the adjusted loss is covered, but it is understood that this does not
include any cost in connection with the preparation of the Insured’s claim or estimate of loss in the event of damage by insured perils.”

2. Removal of Debris (in excess of 1% of the claim amount)

“In consideration of the payment of additional premium, it is hereby declared and understood that the policy is extended to cover costs and expenses
necessarily incurred by the insured in

a) the removal of debris from the premises of the Insured;

b) dismantling or demolishing;
c) shoring up or propping;

of the portion or portions of the property insured by (specified as being insured by this Endorsement in the Schedule of) this policy destroyed or damaged
by perils hereby insured against but not exceeding in the aggregate the amount (limited to 10% of the total sum insured) stated in the Schedule of this
policy in respect of this Endorsement.”

Note: (b)&(c) above shall be deemed deleted when neither Building nor Machinery are covered.

3. (A) Deterioration of Stocks in Cold Storage premises due to accidental power failure consequent to damage at the premises of
Power Station due to an insured peril

“In consideration of the payment of additional premium, it is hereby agreed and declared that notwithstanding anything to the contrary in this policy or in
any of its conditions, this policy covers destruction of or damage to the property hereby insured caused by change of temperature in consequence of
failure of electric supply at the terminal ends of electric service feeders from which the Insured obtains electric supply directly due to damage caused by
any peril insured against under this policy to property at insured premises or any Electric Station or Sub-Station of Public Electric Supply undertaking
from which the Insured obtains electric supply.

Provided that the Company shall not be liable for any loss occasioned by the deliberate act of the Government, Municipal or Local Authority or Supply
Authority not performed for the sole purpose of safeguarding life or protecting any part of the supply undertaking’s systems or by the exercise by any such
authority of its power to withhold or restrict or ration supply not necessitated solely by damage to the Supply Undertaking’s generating or supply
equipment by an insured peril.

Provided further that the Company shall not be liable for any loss unless the duration of each such failure exceeds 24 hours.

Subject otherwise to the terms, exceptions, conditions and limitations of this Policy.”

In any action, suit or other proceedings where the company alleges that by reason of the provisions of this condition any loss or damage is not covered by
this insurance, the burden of proving that this loss or damage is covered shall be upon the Insured.

3. (B) Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold
storage machinery(ies) in the Insured’s premises due to operation of insured peril.

“In consideration of the payment of additional premium, it is hereby agreed and declared that notwithstanding anything to the contrary in this policy or in
any of its conditions this policy covers destruction of or damage to the property herby insured caused by change of temperature in consequence of failure
of electric supply following damage to Insured’s property due to insured peril(s).

Provided further that the Company shall not be liable for any loss unless the duration of each such failure exceeds 24 hours.

Subject otherwise to the terms, extensions, conditions and limitations of this Policy”.

In any action, suit or other proceedings where the company alleges that by reason of the provisions of this condition any loss or damage is not covered by
this insurance, the burden of proving that this loss or damage is covered shall be upon the Insured.

4. Forest Fire

“In consideration of the payment of additional premium the insurance under the policy shall extend to include loss of or damage to the property insured
directly caused by burning, whether accidental or otherwise, of forest, bush and jungles and the clearing of lands by Fire.”

5. Impact Damage due to Insured’s own Rail/Road Vehicles, Fork lifts Cranes, Stackers and the like and articles dropped therefrom.
 The Oriental Insurance Company Limited
“In consideration of an additional premium, it is hereby agreed and declared that the policy is extended to cover loss and/or damage caused due to
impact by direct contact to Insured’s property caused by Insured’s own Rail/Road Vehicles, Fork lifts, cranes, stackers and the like and articles dropped
therefrom.”

6. Spontaneous Combustion

“In consideration of the payment by the Insured to the Company of additional premium, the Company agrees notwithstanding what is stated in the printed
exclusions of this policy to the contrary that the insurance by items specified under this policy shall extend to include loss or damage by fire only of or to
the property insured caused by its own fermentation, natural heating or spontaneous combustion.”

7. Omission to Insure additions, alterations or extensions

“In consideration of the payment of additional premium, it is hereby agreed and declared that the Insurance by this Policy extends to cover Buildings
and/or Machinery, Plant and other Contents as defined in the Schedule hereof which the insured may erect or acquire or for which they may become
responsible:-

a) at the within described premises;

b) for use as factories

i) The liability under this Extension shall not exceed in respect of (a) above, 5% of the Sum Insured by each item, and in respect of (b)
above, 5% of the Sum Insured by items of the Schedule.
ii) The Insured shall notify the Insurer of each additional insurance as soon as it shall come to their knowledge and shall pay the
appropriate additional premium thereon from the date of inception
iii) Following the advice of any additional insurance as aforesaid, cover by this extension shall be fully reinstated.
iv) No liability shall attach to the insurers in respect of any Building, Machinery, Plant or other Contents while such property is otherwise
insured.”

Note 1 : All new additions to Buildings and/or Machinery and Plant not specifically insured/included during the currency of the policy should be declared at
the end of the year and suitable additional premium paid on pro rata basis from the date of completion of the construction /erection of additions may be
suitably adjusted.

If the insured fails to declare the values of such additions within 30 days after the expiry of the policy, there shall be no refund of the advance premium
collected.

Note 2 : Other Contents’ in the above clause shall mean ‘Furniture and Fittings’ and does not include ‘Stocks’.

8. Earthquake (Fire and Shock)

If option to delete STFI peril is exercised

“In consideration of the payment by the Insured to the Company of the additional premium, it is hereby agreed and declared that notwithstanding anything
stated in the printed exclusions of this policy to the contrary, this Insurance is extended to cover loss or damage (including loss or damage by fire) to any
of the property Insured by this policy occasioned by earthquake including Landslide/Rockslide resulting therefrom but excluding flood or overflow of the
sea, lakes, reservoirs and rivers caused by Earthquake.

Provided always that all the conditions of this policy shall apply (except in so far as they may be hereby expressly varied) and that any reference therein
to loss or damage by fire shall be deemed to apply also to loss or damage directly caused by any of the perils which this insurance extends to include by
virtue of this endorsement.”

If option to delete STFI peril is not exercised

“In consideration of the payment by the Insured to the Company of the additional premium, it is hereby agreed and declared that notwithstanding anything
stated in the printed exclusions of this policy to the contrary, this Insurance is extended to cover loss or damage (including loss or damage by fire) to any
of the property Insured by this policy occasioned by or through or in consequence of earthquake including flood or overflow of the sea, lakes, reservoirs
and rivers and/or Landslide / Rockslide resulting therefrom.

Provided always that all the conditions of this policy shall apply (except in so far as they may be hereby expressly varied) and that any reference therein
to loss or damage by fire shall be deemed to apply also to loss or damage directly caused by any of the perils which this insurance extends to include by
virtue of this endorsement.”

Special conditions –

1) Excess clause
5% of each and every claim subject to a minimum of Rs.10,000/.
2) Extension cover shall be granted only if the entire property in one complex / compound / location covered under the policy is extended to
cover this risk and the Sum Insured for this extension is identical to the Sum Insured against the risk covered under main policy except for the value of the
plinth and foundations of the building(s).
3) Onus of proof
In the event of the Insured making any claim for loss or damage under this policy he must (if so required by the Company) prove that the loss
or damage was occasioned by or through or in consequence of earthquake.
 The Oriental Insurance Company Limited
9. Spoilage Material Damage Cover

“In consideration of the payment of an additional premium it is hereby agreed and declared that notwithstanding anything contained to the contrary, in the
within written Policy, the insurance under this policy shall extend to cover loss or damage by Spoilage resulting from the retardation or interruption or
cessation of any process or operation caused by any of the perils covered under this Policy, provided that liability for destruction of or damage to the
property insured described in the schedule to this policy, or any part of such property, is first admitted by the Company.

PROVIDED ALWAYS THAT all the conditions (except in so far as they may be hereby expressly varied) shall apply as if they had been incorporated
herein and that any reference therein to the loss or damage caused by insured perils shall be deemed to apply also to loss or damage caused by
Spoilage which peril this insurance extends to include by virtue of this Endorsement.”

SPECIAL CONDITIONS

For the purpose of this Endorsement but no otherwise, the following special conditions shall apply:

Average : If the property hereby insured against spoilage shall, at the time of occurrence of any loss or damage, be collectively of greater value than the
sum insured on machinery, containers, equipment and stocks in the specified blocks, then the Insured shall be considered as being his own insurer for
the difference and shall bear rateable proportion of the loss accordingly. Every item, if more than one, of the Policy shall be separately subject to this
condition.

PROVIDED THAT it is hereby further expressly agreed and declared that the liability of the Company shall in no case under this endorsement and the
Policy exceed the sum insured specified under this Policy.

10. Leakage and Contamination Cover:

(A) Where Leakage and Contamination Cover is granted

“In consideration of the payment of an additional premium, it is hereby agreed and declared that the Insurance under this policy shall, subject to terms,
conditions and exclusions of this policy and also subject to terms, conditions and exclusions hereinafter contained, extend to include the physical loss of
oil/chemical by leakage from its container by accidental means and all accidental contaminations by contact with foreign matter.”

PROVIDED always that this policy does not cover:

a) Loss by Contamination through Improper Handling or Controls by Insured’s own Employees;

b) Loss resulting from loss of use, loss of earnings, delay or loss of markets or other consequential or indirect loss or damage of
any kind or description whatsoever;
c) Loss resulting from any kind of infidelity or dishonesty on the part of the Insured or any of their employees, inventory shortage,
mysterious disappearance or unexplained loss;
d) Loss by burglary or theft or any attempt thereat;
e) Loss resulting from processing or faulty workmanship;
f) Loss resulting from shrinkage, evaporation, loss of weight unless caused by a peril not otherwise excluded;
g) Any legal and/or contractual liability arising from any cause whatsoever; and
h) Consequential Loss of any nature.”

(B) Where Leakage Cover alone is granted:

“In consideration of the payment of an additional premium, it is hereby agreed and declared that the Insurance under this policy shall, subject to terms,
conditions and exclusions of this Policy and also subject to terms, conditions and exclusions hereinafter contained, extend to include the physical loss of
oil/chemical by leakage from its container by accidental means.”

PROVIDED always that this policy does not cover:

a) Loss resulting from loss of use, loss of earnings, delay or loss of markets or other consequential or indirect loss or damage of
any kind or description whatsoever;
b) Loss resulting from any kind of infidelity or dishonesty on the part of the Insured or any of their employees, inventory shortage,
mysterious disappearance or unexplained loss;
c) Loss by burglary or theft or any attempt thereat;
d) Loss resulting from processing or faulty workmanship;
e) Loss resulting from shrinkage, evaporation, loss of weight unless caused by a peril not otherwise excluded;
f) Any legal and/or contractual liability arising from any cause whatsoever; and
g) Consequential Loss of any nature.”

SPECIAL CONDITIONS: (Applicable to A & B)

i) The cover under this endorsement shall attach only on or after the receipt of the insured subject matter in land tanks as described in the
policy and subject to lodgment with the company by Insured of a certificate obtained by them at their own expense from a competent approved and
independent agency/surveyor as to the purity and quality of the subject matter herein insured.
 The Oriental Insurance Company Limited
ii) Before the commencement of pumping and/or decanting operations, the Insured shall arrange at their own expense sampling and quality /
purity certification by competent, approved and independent agency / surveyor for such distinct lot, batch or tank load ex-ocean vessel of insured subject
matter and shall pump/decant only such material as is pure and without contaminants.
iii) The insured shall at their own expense arrange inspection and certification from competent approved and independent agency/surveyor as to
the cleanliness and fitness of the pipe lines, pumping equipment and the receiving land tanks to carry and/or receive the insured subject matter, prior to
the commencement of pumping, decanting, receiving and/or storage operations. Such certification as mentioned above should, inter alia, confirm that the
pumping, carrying and storage equipment facilities and tanks are free from impurities, contaminants and/or residue or left-overs from previous use of
equipment, facilities or storage tanks. As concerning the receiving land tanks an initial certificate of fitness to receive and store the insured material shall
be deemed to satisfy the above condition in so far as such tanks are concerned. However, a fresh certification as mentioned above would be required in
the event of the said tanks being empty and fresh stocks are subsequently pumped/decanted in during the currency of this insurance.
iv) In case of loss to property insured hereunder, the basis of adjustment shall be the market value at the time and place of loss.
v) It is understood and agreed that all loss or damage to property occurring during any one period of seventy-two consecutive hours during the
currency of this policy directly caused by earthquake shock shall be deemed to have been caused by single earthquake and therefore to constitute one
loss for the purpose of this policy, the Insured shall select a time from which any such period shall commence but no two such selected periods shall
overlap.
vi) All salvage recoveries and payments recovered or received subsequent to a loss settlement under this policy shall be applied as if recovered
or received prior to the said settlement and all necessary adjustment shall be made by the parties hereto.
vii) If any breach of a clause or condition in this contract or policy of insurance shall occur prior to a loss under this Policy, such breach shall not
void the policy nor avail the company to avoid the liability unless such breach shall exist at the time of such a loss under this contract or policy, it being
understood that such breach of a clause or condition is applicable only to the specific property to which the condition or clause has reference and in
respect of which such breach occurred.
viii) Each claim for loss or damage shall be adjusted separately and each claim is subject to an excess of 1% on each tank with a minimum of
Rs.60,000/- each loss.
ix) If the property hereby insured shall at the time of the operation of a peril insured hereunder, be collectively of greater value than the sum
insured thereof, then the insured shall be considered as being his own insurer for the difference and shall bear a ratable proportion of the loss
accordingly. Every item, if more than one, of the policy shall be separately subject to this condition.

Note :
1. The above extension will apply to oils & chemicals only. It will not apply to any other commodity.
2. Special Condition (i),(ii) and (iii) above are not applicable where Leakage Cover alone is granted.

11. Temporary Removal of Stocks Clause

“In consideration of the payment of additional premium, it is agreed that the stock insured hereby not exceeding 10% of the total sum insured of such
stock is covered while temporarily removed to any other premises for purposes of fabrication or processing or finishing or other similar purposes. This
extension does not apply to stock if and so far as it is otherwise insured.

The pro-rata condition of average shall be applied to the limit of stocks temporarily removed as well as to the total sum insured of such stock under the
policy.”

12. Loss of Rent Clause

In consideration of the payment of additional premium, this policy is extended to cover the loss of rent caused by insured perils subject to the following:

“The insurance on rent applies only if (any of) the said building(s) or any part thereof is unfit for occupation in consequence of its destruction or damage
by the perils insured against and then the amount payable shall not exceed such portion of the sum insured on Rent as the period necessary for
reinstatement bears to the term of the Rent Insured.”

13. Insurance of Additional Expenses of Rent for an Alternative Accommodation

“In consideration of the payment of additional premium, it is hereby declared that in the event of the premises described in the policy and occupied by the
insured, hereinafter referred to as ‘PREMISES’ being destroyed or damaged by any Insured Peril as to become unfit for occupation and the insured in
consequence taking up alternative accommodation, the Company shall, subject to special conditions set out herein, indemnify the insured against the
additional rent (as explained herein) which the insured is called upon to bear for the period beginning from the date of operation of any of the Insured
Perils until the ‘PREMISES’ is rendered fit for occupation such period not exceeding such reasonable time as is required to restore the premises with due
diligence to a condition fit for occupation or the maximum indemnity period (as stated in the Schedule in respect of this Endorsement) whichever is earlier.

Provided that the liability of the Company shall not exceed the sum insured (as stated in the Schedule in respect of this Endorsement) hereby.

Provided further that if the sum produced by applying the monthly additional rent, borne by the insured for the alternative accommodation to the maximum
indemnity period is more than the Sum Insured hereby, the liability of the Company shall be proportionately reduced.”

SPECIAL CONDITIONS:

1. This insurance shall apply subject to the condition that the PREMISES occupied by the insured, whether as owner or tenant, forms part of a
building not being “Kutcha” Construction.
 The Oriental Insurance Company Limited
2. If the area of alternative accommodation taken by the insured is more than the area of the PREMISES occupied by the insured, the additional
rent borne by the insured for the purpose of this insurance shall be deemed to be that proportion of the additional rent actually borne by the insured as the
area of the PREMISES which was in the insured’s occupation bears to the area of the alternative accommodation taken by the insured. The insured shall
be at liberty to take alternative accommodation in any locality so long as it is within the Municipal limit of the city or town in which the PREMISES is
situated.

EXPLANATION

Additional Rent : If the insured is the Owner-Occupant, the additional rent borne by him is arrived at after deducting the standard rent of the premises
from the actual rent paid for the alternative accommodation. The standard rent shall be based on the ratable values fixed by the Municipal/Revenue
authorities for tax purposes.

If the insured is a tenant only and for safeguarding his legal tenancy rights is obliged to pay rent for the premises even during the period when it is not fit
for occupation, the additional rent borne by him is the actual rent for the alternative accommodation.

If the insured is a tenant and is not obliged to pay rent for the premises during the period when it is not fit for occupation, the additional rent borne by him
is the actual rent paid for alternative accommodation taken less the rent which he was paying for the premises immediately prior to the same being
damaged or destroyed by Insured Perils and rendered unfit for occupation.

14. Start-up Expenses

“In consideration of the payment of additional premium, it is hereby agreed and declared that this policy extends to cover start-up costs necessarily and
reasonably incurred by the insured consequent upon a loss or damage covered by this policy.”

15. Terrorism Damage Cover Endorsement (Material Damage only)

INSURING CLAUSE

Subject otherwise to the terms, exclusions, provisions and conditions contained in the Policy and in consideration of the payment by the Insured to the
Company of additional premium as stated in the Schedule, it is hereby agreed and declared that notwithstanding anything stated in the ‘Terrorism Risk
Exclusion” of this Policy to the contrary, this Policy is extended to cover physical loss or physical damage occurring during the period of this Policy caused
by an act of terrorism, subject to the exclusions, limits and excess described hereinafter.

For the purpose of this cover, an act of terrorism means an act or series of acts, including but not limited to the use of force or violence and/or the threat
thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), or unlawful
associations, recognized under Unlawful Activities (Prevention) Amendment Act, 2008 or any other related and applicable national or state legislation
formulated to combat unlawful and terrorist activities in the nation for the time being in force, committed for political, religious, ideological or similar
purposes including the intention to influence any government and/or to put the public or any section of the public in fear for such purposes.

This cover also includes loss, damage, cost or expense directly caused by, resulting from or in connection with any action taken in suppressing,
controlling, preventing or minimizing the consequences of an act of terrorism by the duly empowered government or Military Authority.

Provided that if the Insured is eligible for indemnity under any government compensation plan or other similar scheme in respect of the damage described
above, this Policy shall be excess of any recovery due from such plan or scheme.

For the purpose of the aforesaid inclusion clause, "Military Authority" shall mean armed forces, para military forces, police or any other authority
constituted by the government for maintaining law and order.

LOSSES EXCLUDED

This cover shall not indemnify loss of or damage to property caused by any or all of the following:-

1. loss by seizure or legal or illegal occupation;

2. loss or damage caused by:
(i) voluntary abandonment or vacation,
(ii) confiscation, commandeering, nationalisation, requisition, detention, embargo, quarantine, or any result of any order of public or
government authority, which deprives the Insured of the use or value of its property;
3. loss or damage arising from acts of contraband or illegal transportation or illegal trade;
4. loss or damage directly or indirectly arising from or in consequence of the seepage and or discharge of pollutants or contaminants, which
pollutants and contaminants shall include but not be limited to any solid, liquid, gaseous or thermal irritant, contaminant or toxic or hazardous
substance or any substance the presence, existence or release of which endangers or threatens to endanger the health, safety or welfare of
persons or the environment;
5. loss or damage arising directly or indirectly from or in consequence of chemical or biological emission, release, discharge, dispersal or
escape or chemical or biological exposure of any kind;
6. loss or damage arising directly or indirectly from or in consequence of asbestos emission, release, discharge, dispersal or escape or
asbestos exposure of any kind;
7. Any fine, levy, duty, interest or penalty or cost or compensation/damages and/or other assessment which is incurred by the Insured or which
is imposed by any court, government agency, public or civil authority or any other person;
8. loss or damage by electronic means including but not limited to computer hacking or the introduction of any form of computer virus or
corrupting or unauthorised instructions or code or the use of any electromagnetic weapon. This exclusion shall not operate to exclude losses
 The Oriental Insurance Company Limited
(which would otherwise be covered under this Policy) arising from the use of any computer, computer system or computer software
programme or any other electronic system in the launch and/or guidance system and/or firing mechanism of any weapon or missile;
9. loss or damage caused by vandals or other persons acting maliciously or by way of protest or strikes, labour unrest, riots or civil commotion;
10. loss or increased cost occasioned by any public or government or local or civil authority’s enforcement of any ordinance or law regulating the
reconstruction, repair or demolition of any property insured hereunder;
11. any consequential loss or damage, loss of use, delay or loss of markets, loss of income, depreciation, reduction in functionality, or increased
cost of working;
12. loss or damage caused by factors including but not limited to cessation, fluctuation or variation in, or insufficiency of, water, gas or electricity
supplies and telecommunications or any type of service;
13. loss or increased cost as a result of threat or hoax;
14. loss or damage caused by or arising out of burglary, house - breaking, looting, theft, larceny or any such attempt or any omission of any kind
of any person (whether or not such act is committed in the course of a disturbance of public peace) in any action taken in respect of an act of
terrorism;
15. loss or damage caused by mysterious disappearance or unexplained loss;
16. loss or damage directly or indirectly caused by mould, mildew, fungus, spores or other micro-organism of any type, nature or description,
including but not limited to any substance whose presence poses an actual or potential threat to human health;
17. Total or partial cessation of work or the retardation or interruption or cessation of any process or operations or omissions of any kind.

LIMIT OF INDEMNITY

The limit of indemnity under this cover shall not exceed the Total Sum Insured given in the Policy Schedule or INR 15,000,000,000 whichever is lower. In
respect of several insurance policies within the same compound/location with one or different insurers, the maximum aggregate loss payable per
compound/location by any one or all insurers shall be INR 15,000,000,000. If the actual aggregate loss suffered at one compound/location is more than
INR 15,000,000,000, the amounts payable under individual policies shall be reduced in proportion to the sum insured of the policies.

EXCESS

Shops & Residential Risks: 1% of claim amount for each and every claim subject to minimum of INR 10,000 and Maximum of INR 500,000.
Non-Industrial Risks: 1% of claim amount for each and every claim subject to minimum of INR 25,000 and Maximum of INR 1,000,000.
Industrial Risks: 5% of claim amount for each and every claim subject to minimum of INR 100,000 and Maximum of INR 25,000,000.

CANCELLATION CLAUSE

Notwithstanding the cancellation provisions relating to the basic insurance policy on which this endorsement is issued, there shall be no refund of
premium allowed for cancellation of the Terrorism risk insurance during the period of insurance except where such cancellation is done along with the
cancellation of the basic insurance. Where a policy is cancelled and rewritten mid-term purely for the purpose of coinciding with the accounting year of
the insured, pro-rata refund of the cancelled policy premium will be allowed.

If the cancellation is for any other purpose, refund of premium will only be allowed after charging short term scale rates.

Note: The definitions, terms and conditions of main Policy save as modified or endorsed herein shall apply.