Fire and Engineering sections are protected by an obligatory catastrophe
excess of loss cover (two layers) for 2007 as follows:
1st Layer
_________________________________
REASSURED :
Arab Reinsurance Pool
Managed by: Arab Reinsurance
Company
PERIOD :
Losses Occurring Basis during 12 months
commencing 01/01/2007
TYPE :
Excess of Loss Reinsurance
TERRITORY :
Arab Countries and their Interests
abroad excluding
USA and Canada unless incidental
INTEREST :
To cover Proportional Treaty and
Facultative Business
accepted by The Reassured in the following branches:
I- Fire:
Fire and Allied Perils and extended coverage including Third Party
Liability when written as a part of a package Policy provided Sum
Insured is not greater than that of Property Damage.
II- Engineering:
Contractors all Risks, Erection all Risks, Construction Plant and
Equipment, Machinery Breakdown, Boiler Explosion, Deterioration of stock
in cold storage, Electronic Equipment Risks, Loss of Profits following
Machinery breakdown and Boiler Explosion also including Third Party
Liability.
LIMITS :
USD 1,000,000 ultimate net loss, each
and every
loss and/or series of losses
arising out of one event.
In Excess of
USD 1,000,000 ultimate net loss, each and every
loss
and/or series of losses arising out of
one event.
PREMIUMS :
Minimum & Deposit Premium USD 58,500
payable
in two equal instalments at 1st January, 2007 and 1st
July, 2007.
Rate :
2.20% of G.N.P.I.
REINSTATEMENT :
One at 100% A.P.
CONDITIONS :
Ultimate Net Loss Clause
Net Retained Lines Clause
Nuclear Energy Risks Exclusion Clause
Seepage and Pollution Exclusion Clause
Political Risks Exclusion Clause
Hours Clause
Inspection Clause
Arbitration Clause
Nuclear Incident Exclusion Clause Reinsuranc
(USA and Canada)
Liability, Physical Damage, Boiler and Machinery
War and Civil War Exclusion Clause
Excluding Excess of Loss Reinsurance
Marine Business Exclusion
EDRC (B)
Warranty : Two
acceptance warranty.
Information : G.N.P.I.
for 2007 US$ 4,500,000 split as follows:
Fire : US$ 3,500,000
Engineering : US$ 1,000,000
Experience : Clean
Loss record since its inception in 1993.
=================================
Top Layer
___________________________________
REASSURED :
Arab Reinsurance Pool
Managed by:
Arab Reinsurance Company
PERIOD :
Losses Occurring Basis during 12 months
commencing
01/01/2007
TYPE :
Excess of Loss Reinsurance
TERRITORY :
Arab Countries and their Interests
abroad excluding USA
and Canada unless incidental
INTEREST :
To cover Proportional Treaty and
Facultative Business
accepted by
The Reassured in the following branches:
I- Fire:
Fire and Allied Perils and extended coverage including Third Party
Liability when written as a part of a package Policy provided Sum
Insured is not greater than that of Property Damage.
II- Engineering:
Contractors all Risks, Erection all Risks, Construction Plant and
Equipment, Machinery Breakdown, Boiler Explosion, Deterioration of stock
in cold storage, Electronic Equipment Risks, Loss of Profits following
Machinery breakdown and Boiler Explosion also including Third Party
Liability.
LIMITS :
USD 3,000,000 ultimate net loss, each
and every
loss and/or series of losses arising out of one event.
In Excess of
USD 2,000,000 ultimate net loss, each and every
loss
and/or series of losses arising out of
one event.
PREMIUMS :
Minimum & Deposit Premium USD 76,500
payable
in full at inception.
Rate :
2.00% of G.N.P.I.
REINSTATEMENT :
One at 100% A.P.
CONDITIONS :
Ultimate Net Loss Clause
Net Retained Lines Clause
Nuclear Energy Risks Exclusion Clause
Seepage and Pollution Exclusion Clause
Political Risks Exclusion Clause
Hours Clause
Inspection Clause
Arbitration Clause
Nuclear Incident Exclusion Clause Reinsurance
(USA and Canada)
Liability, Physical Damage, Boiler and Machinery
War and Civil War Exclusion Clause
Excluding Excess of Loss Reinsurance
Marine Business Exclusion
EDRC (B)
Information : G.N.P.I.
for 2007 US$ 4,500,000 split as follows:
Fire : US$ 3,500,000
Engineering : US$ 1,000,000
Experience : New Cover.
