FERGUSON GROUP 2 - 2004 - Laserfiche WebLink

Home Browse Search

(3) items c. and d. in paragraph 2. do not apply to computer programs and computer ,data covered under this extension. c. We do not insure for loss to, or loss of value resulting from infringement of, your intellectual property rights. 2. Fire Protection Devices. We will cover your expense, for up to $25,000, to recharge or refill any fire protection devices which have been discharged to protect the covered prop- erty. This coverage is in addition to the Limit of Insurance shown on the Schedule Page and is not subject to a deductible. 3. Debris Removal. We will cover your expense to remove the debris of covered property, caused by an insured loss. Payment of this expense is included in the Limit of Insurance shown on the Schedule Page. SPECIAL CONDITIONS 1. Valuation. We agree all losses to: a. "computer equipment" will be deter- mined based on the cost to repair or replace with that of similar performance, capacity or function; b. removable data storage media will be determined based on the cost to repair or replace that media with blank media of similar performance, capacity or function; c. computer programs: (1) that are commercial off-the-shelf will be determined based on the cost to repair or replace with that of similar performance, capacity or function; (2) that are not commercial off-the-shelf will be determined based on the cost of reproducing the programs if they are reproduced. If not reproduced, loss will be deter- mined based on the cost of blank, readily available, removable data storage media, such as blank discs, with suitable capacity to store the programs; d. computer data will be determined based on the cost of reproducing the data, if it is reproduced. If not reproduced, loss will be determined based on the cost of blank, readily avail- able, removable data storage media, + (CONTINUED) , such as blank discs, with suitable capac- ity to store the data; 2. One Loss. If an initial loss causes other losses, all will be considered one loss. All losses that are the result of the same event will be considered one loss. OPTIONAL COVERAGE- LOSS OF INCOME AND EXTRA EXPENSE 1. If a limit is shown on the Inland Marine Sched- ule Page for Loss of Income and Extra Expense, coverage under this form is pro- vided, subject to that limit, for the following: a. the actual loss of "business income" you sustain due to the necessary suspension of your operations during the "period of restoration". This loss of income must be caused by damage or destruction to property covered under this form, by a covered cause of loss; b. any necessary "extra expense" to avoid or minimize the suspension of operations caused by damage or destruction to property covered under this form, by a covered cause of loss. We will only pay for loss of "business income" or "extra expense" that occurs within 12 con- secutive months after the date of insured loss. 2. When used in this Optional Coverage: a. "business income" means the net income (net profit or loss before income taxes) that would have been earned or incurred, and continuing normal operating expenses, including payroll, incurred dur- ing the "period of restoration"; b. "extra expense" means necessary expenses you incur during the "period of restoration" that would not have been incurred if there had been no damage or destruction to the covered property; c. "period of restoration" means the period of time that: (1) begins with the date of insured loss to property covered by this form; and (2) ends on the date when the property covered by this form should be repaired, rebuilt, restored or replaced. The expiration date of this policy will not cut short the "period of restoration".