Covers accidental damage to Tanks and loss of contents in the Tank.
Damage to Tanks
Accidental damage to the Tanks caused by bursting, splitting, rupture or collapse or any other cause of damage that immediately prevents or makes unsafe its continued use.
Loss of Content
Loss of contents of any Tank described in the Policy contract arising from damage to said Tank for which liability is admitted under Damage to Tanks section.
The benefit(s) payable under eligible product is protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure or contact Berjaya Sompo Insurance Berhad or PIDM (visit www.pidm.gov.my).
Exceptions
Section 1: Damage to Tanks
- Excess as specified in the Policy Contract for losses in respect of which the Insured is indemnified in this section.
- Damage caused by fire, lightning, flood, explosion or aircraft.
- Wear and tear, wearing away wasting of the material or gradual deterioration.
- Damage due to subsidence or other ground movement or displacement.
- Cost of re-levelling any Tank unless necessitated solely by an accident causing damage to said Tank.
- Damage during dismantling or erection or caused by or arising out of any process of cleaning, repairing or testing.
Section 2: Loss of Content
- Excess as specified in the Policy Contract for losses in respect of which the Insured is indemnified in this section.
- Gradual losses by seepage evaporation or any form of normal trade loss.
Major Exclusions
- Loss or damage due to fire, lightning and allied perils
- War and kindred risks
- Restrictions imposed by any public authority
- Consequence of nuclear reaction, nuclear radiation or radioactive contamination
Note: This list is non-exhaustive. Please refer to the Policy Contract for the full list of exclusions.
Please refer to the Policy Contract for the full details of the Policy; including Exclusions, Conditions and other Details.
