42 minute read
INSURANCE
Mr D Turton PO Box 1446 BUDDINA QLD 4575
P O Box 1444 Caloundra,QLD 4551 Ph: 1300 139 931 Email: info@yib.com.au Web: http://www.yib.com.au
RENEWAL TAX INVOICE
Date: 09/07/2020 Invoice Number: 056368 Account Manager: Ian Ferris
Thank you for using our services to arrange this insurance cover.
Brief details of cover arranged on your behalf are given below. You should refer to the policy documents issued by the insurer for complete policy terms and conditions.
Please read carefully the important notices attached regarding your duty of disclosure. Do not hesitate to contact us with any questions you may have.
Type of Policy
SVU Liability
Insured DPT Property Pty Ltd as Trustee for the DPT Trust Policy Description Property Owner risk of Cardboard Baling facility Policy Number GL20190807-01904746 Period of Insurance 28/07/2020 to 28/07/2021 Effective Date 28/07/2020 Insurer Berkley Insurance Company
Premium FSL Underwriter Fee Stamp Duty Broker Fee GST Invoice Total
$1,650.00 $0.00 $0.00 $163.35 $46.95 $169.70 $2,030.00
Payment Options
Account Name: Your Insurance Broker Pty Ltd BSB: 084484 Account Number: 761538649 Payment Reference: 056368
Mail this portion with your cheque payable to: Your Insurance Broker Pty Ltd P O Box 1444 Caloundra,QLD 4551 Premium Finance is available. Call 07 5491 9000 or 1300 139 931 to arrange a quotation. Finance and administration charges apply.
Name: DPT Property Pty Ltd as Trustee for the DPT Trust Client ID: 10456 Invoice No: 056368
Please call 07 5491 9000 or 1300 139 931 to pay by credit card.
Total Due: $2,030.00
Notes: Property Owners Liability for Cardboard Baling Facility
Policy Number Period of Insurance
GL20190807-01904746
From 4pm 28/07/2020 to 4pm 28/07/2021
Effective Date
28/07/2020
Named Insured
Named Insured
Address DPT Property Pty Ltd as Trustee for the DPT Trust 262-264 Brisbane Rd Monkland QLD 4570
Business Business Description
Turnover Staff
Property Owner - Factory/Industrial Property Owner of Cardboard & Paper Baling Facility operated by HELP Enterprises $125,000 1
Policy Wording
Steadfast Client Trading Platform (SCTP) Liability Policy 2017
Policy Details
Limits of Liability
Public Liability $20,000,000
In respect of any one claim or series of claims arising out of any one Occurrence
Products Liability
Sub-Limits of Liability
Product Recall Expenses Errors and Omissions Care, Custody and Control
Optional Extensions
Exports to North America
Deductibles
Personal Injury Property Damage $20,000,000
In respect of any one claim or series of claims, and in the aggregate during any one Period of Insurance
Not Insured Not Insured $250,000
Not Insured
$1,000 $1,000
Endorsements
Care Custody Control Endorsement – Steadfast SCTP Liability 2017
It is hereby declared and agreed that clause 3.16 is deleted in its entirety and replaced with the following:
3.16 Property in Your care, custody or control
for Property Damage to property in Your physical or legal care, custody or control; but this exclusion shall not apply with regard to:
3.16.1 the personal property, tools and effects of any of Your directors, partners, proprietors, officers, executives or employees, or the clothing and personal effects of any of Your visitors.
3.16.2 premises or part(s) of premises (including their contents) leased or rented to, or temporarily occupied by, You for the purpose of the Business, but no cover is provided by this Policy if You have assumed the responsibility to insure such premises.
3.16.3 premises (and/or their contents) temporarily occupied by You for the purpose of carrying out work in connection with the Business, or
3.16.4 any Vehicle (including its contents, spare parts and accessories while they are in or on such Vehicle) not belonging to or used by You, whilst any such Vehicle is in a car park owned or operated by You; provided that You do not operate the car park for reward, as a principal part of Your business.
3.16.5 notwithstanding Exclusion clause 3.6 “Contractual Liability”, any property (except property that You own) not mentioned in clauses 3.16.1 to 3.16.4 above whilst in Your physical or legal care, custody or control whether or not You have accepted or assumed legal liability for such property. Provided that Our liability under this clause 3.16.5 shall not exceed the sub-limit specified in the Schedule in respect of any one claim or series of claims arising out of any one Occurrence.
It is a condition of this insurance that all tenants located in any Property owned or managed by You shall hold Public and Products Liability insurance:
a) with a minimum limit of AUD$10,000,000 any one Occurrence for Public Liability and AUD$10,000,000 any one Occurrence and in the aggregate for Products Liability; and b) the policy shall be extended to provide indemnity to You in respect of any negligence or act committed by the tenant.
Furthermore You shall not
(i) waive or have waived Your rights of recourse against, or (ii) agree or have agreed to hold harmless
any such tenants.
Listed Human Disease Exclusion - Steadfast SCTP Liability 2017
We do not cover any liability directly or indirectly caused by, arising out of, resulting from, in consequence of, in connection with or contributed to a Listed Human Disease or any directly or indirectly related condition or threat or fear thereof (whether actual or perceived).
Listed Human Disease shall mean:
a) any disease identified or listed at any time as a human disease under the Biosecurity Act 2015 (Cth) or its current equivalent, as amended or replaced from time to time, or
b) any disease identified or listed in a state of emergency, public health emergency or pandemic declared by any governmental authority or identified by the World Health Organisation or its current equivalent as amended or replaced.
regardless of when the disease is so listed or identified.
Note: This invoice and schedule is only a summary which should be read in conjunction with your Policy Wording for the full scope of cover provided and exclusions that may apply.
Refunds and Reservation of Remuneration
If there is a refund of premium owed to you as a result of a cancellation or alteration to a policy (excluding cancellation within the cooling off period), we will retain any fee we have charged you and reserve the right to retain the full commission.
IMPORTANT INFORMATION
Please read this information carefully and contact us immediately if you have any queries. YOUR DUTY OF DISCLOSURE
Before you enter into a Contract of general insurance with an Insurer, you have a duty under the Insurance Contracts Act 1984 to disclose to the Insurer every matter that you know, or could reasonably expect to know, is relevant to the Insurer’s decision whether to accept the risk of insurance and if so, on what terms. You have the same duty to disclose those matters to the Insurer before you renew, extend, vary or reinstate a Contract of general insurance. Your duty however does not require disclosure of matter, that diminishes the risk to be undertaken by the Insurer, that is common knowledge, that your Insurer knows or, in the ordinary course of business, ought to know as to which the compliance with your duty is waived by the Insurer.
NON-DISCLOSURE
If you fail to comply with your duty of disclosure, the Insurer may be entitled to reduce the liability under the Contract in respect of a claim or may cancel the Contract. If your non-disclosure is fraudulent, the Insurer may also have the option of avoiding the Contract from its beginning. If you are not fully satisfied with our services, you should contact our customer relations/complaints officer.
YOUR INSURANCE BROKER PTY LTD
We also subscribe to the Australian Financial Complaints Authority (AFCA), which is a free customer service and the General Insurance Brokers Code of Practice. Further information is available from this office or contact the AFCA on 1800 931 678 or go to www.afca.org.au
Average Clause – Underinsurance
Personal insurance (e.g. home and contents policies), and Business insurance (e.g. fire, business interruption, industrial special risks) often contain an average clause. Such clauses enable the insurer to reduce your claim settlement in proportion to the amount of any underinsurance. Therefore, you should always insure for full value, which may be replacement, indemnity or market value depending on the type of cover arranged.
Changes to your Risk and Change of your Circumstances
Advise us immediately of any changes to the risk covered or your circumstances. Some examples of such changes are: change of location, risk, activity, insured names, values to be insured, installation or removal of smoke or burglar alarms and the like.
Claims
To ensure any entitlement under your policy is protected, you must report all incidents that may give rise to a claim against you to the Insurers without delay after such incidents come to your attention and prior to the expiration of the policy period. Your attention is also drawn to the fact that your policies do not provide indemnity in respect of events that occurred PRIOR to commencement of the insurance contract.
Cooling Off Period
This product is subject to a Cooling Off Period which means you are entitled to a minimum 14 day cooling off period during which time you may return the policy and receive a premium refund. We will return the commission to the Insurer, however we reserve the right to retain our fees. The cooling off period is subject to legal requirements and terms and conditions of the policy. You should check the relevant Product Disclosure Statement (PDS) for full details.
Insured Name and Interests of Other Parties
Always ensure you advise us of every interested entity so that each can be properly advised to the insurer and noted as insured and/or for their respective rights and interests. Most policies will exclude indemnity to parties unless their interest is noted on the policy.
Leasing, Hiring and Borrowing Property
When you lease, hire or borrow property, make sure that the contract clearly identifies who is responsible to insure the property. This will help avoid arguments after a loss and ensure that any claims are efficiently processed.
Premium Funding Non Payment
In the event you fail to fulfil the requirements of a funding contract, the premium funder has full power of attorney over your policy(ies). The funder can request the Insurer to cancel your policy(ies) and the funder has the right to any refund of premium. In this instance we are obliged to act on the instructions of the Funder.
PDS/Product Disclosure Statement
The PDS will be provided to you (or will be passed to you as soon as it is received from the Insurer). It is in your best interests to read this document without delay and advise us of any aspects which are not clear to you or where any aspect of the cover does not meet with your requirements.
Privacy
We are committed to protecting your privacy. We use the information you provide to advise about and assist with your insurance needs. We provide your information to insurance companies and agents that provide insurance quotes and offer insurance terms to you or the companies that deal with your insurance claim (such as loss assessors and claims administrators). Your information may be given to an overseas insurer (like Lloyd’s of London) if we are seeking insurance terms from an overseas insurer, or to reinsurers who are located overseas. We will try to tell you where those companies are located at the time of advising you. We also provide your information to the providers of our policy administration and broking systems that help us to provide our products and services to you. We do not trade, rent or sell your information. If you don’t provide us with full information, we can’t properly advise you, seek insurance terms for you, or assist with claims and you could breach your duty of disclosure. For more information about how to access the personal information we hold about you and how to have the information corrected and how to complain if you think we have breached the privacy laws, ask us for a copy of our Privacy Policy or visit our website for more details.
Underwriting Agency or other Financial Services Provider
If you instruct us to place your insurance with an Underwriting Agency or another Financial Services Provider, you are entitled to receive a Financial Services Guide (FSG) as issued by that provider. This can be provided to you on request.
Utmost Good Faith
Every contract of insurance is subject to the doctrine of utmost good faith which requires that the parties to the contract should act toward each other with the utmost good faith. Failure to do so on your part may prejudice any claim or the continuation of cover provided by Insurers.
Mr D Turton PO Box 1446 BUDDINA QLD 4575
P O Box 1444 Caloundra,QLD 4551 Ph: 1300 139 931 Email: info@yib.com.au Web: http://www.yib.com.au
RENEWAL TAX INVOICE
Date: 02/07/2020 Invoice Number: 055787 Account Manager: Ian Ferris
Thank you for using our services to arrange this insurance cover.
Brief details of cover arranged on your behalf are given below. You should refer to the policy documents issued by the insurer for complete policy terms and conditions.
Please read carefully the important notices attached regarding your duty of disclosure. Do not hesitate to contact us with any questions you may have.
Type of Policy
SVU Business Pack
Insured DPT Property Pty Ltd as Trustee for the DPT Trust Policy Description Shed 1 262-264 Brisbane Rd Monkland Policy Number 104U520558BPK Period of Insurance 28/07/2020 to 28/07/2021 Effective Date 28/07/2020 Insurer QBE Insurance (Australia) Limited
Premium FSL Underwriter Fee Stamp Duty Broker Fee GST Invoice Total
$2,688.68 $0.00 $0.00 $266.15 $196.64 $288.53 $3,440.00
Payment Options
Account Name: Your Insurance Broker Pty Ltd BSB: 084484 Account Number: 761538649 Payment Reference: 055787
Mail this portion with your cheque payable to: Your Insurance Broker Pty Ltd P O Box 1444 Caloundra,QLD 4551 Premium Finance is available. Call 07 5491 9000 or 1300 139 931 to arrange a quotation. Finance and administration charges apply.
Name: DPT Property Pty Ltd as Trustee for the DPT Trust Client ID: 10456 Invoice No: 055787
Please call 07 5491 9000 or 1300 139 931 to pay by credit card.
Total Due: $3,440.00
Notes: Automotive Workshop Cover ONLY, Excludes all cover for Shed 2
Policy Number Period of Cover
Insured
Insured Name
Address
Policy Wording
104U520558BPK
From 28/07/2020 to 28/07/2021 at 4pm
DPT Property Pty Ltd as Trustee for the DPT Trust
Shed 1 – Automotive Workshop ONLY, 262-264 Brisbane Road MONKLAND, QLD, 4570
Cover Summary Situation: 262-264 Brisbane Road MONKLAND QLD 4570 (Principal) Cover Taken
Property Damage Taken Business Interruption Taken Theft Taken Money Not Taken Machinery Breakdown Not Taken Electronic Equipment Breakdown Not Taken Public & Products Liability Taken Glass Taken General Property Not Taken Employee Dishonesty Not Taken Transit Not Taken Tax Audit Not Taken
Claims Experience
Any claims in the last 3 years under the sections to be insured? No
Situation Details
Business Details
Selected Occupation Business Description
Annual Turnover Tenant Business Property Owner - Factory/Industrial
Property Owner of a Motor Vehicle
Mechanical Wokkshop $ 45,000
Motor Mechanics
Situation Details Construction
Year built
Building Details
Floors Walls Roof Expanded Polystyrene (EPS)
Fire Protection Security Protection Other Details
Premises connected to town water
Interested Parties
No Interested Parties noted
Property Damage cover section
Property Damage Information
Is your premises more than 50% vacant
Buildings Method of Settlement Contents Method of Settlement Stock
Specified Items
2001
Concrete Iron/Steel/Aluminium on steel Iron/Steel/Aluminium on steel 1% - 14% Fire Extinguishers, Hose Reels Bars on windows, Deadlocks on doors
Yes
No
Sum Insured
$ 475,000
Reinstatement or replacement $ 10,000
Not Insured
Extra cost of reinstatement Removal of debris Rewriting of records Playing surfaces
Optional covers
Strata title mortgagee(s) interest Flood cover $ As per policy wording $ As per policy wording $ As per policy wording $ As per policy wording
Not Insured Not Insured
Applicable Excess
Excess $ 250 Earthquake, tsunami, volcanic eruption or subterranean fire $20,000 or 1% of the Total Sum Insured, whichever is the lower amount.
Endorsements
Endorsement # 1
Name Code Wording
YOUR BUSINESS BFPB64
Business Interruption cover section
Cover Type Indemnity Period (months)
Insurable Gross Profit Additional increase in cost of working Accounts Receivable Claims preparation and proving expenses Documents
Optional cover
Goodwill
Uninsured Working Expenses
Purchases Discounts Allowed Bad Debt
Endorsements
Endorsement # 1
Name Code Wording
YOUR BUSINESS BFPB64 Insurable Gross Profit 18
Sum Insured
$ 65,000 $ 25,000 $ 7,500 $ 10,000 $ As per policy wording
$ Not Insured
100% 100% 100%
Theft cover section
Contents including Stock Cigarettes / Tobacco Alcohol
Specified items
Full time on-site security after business hours / Retail or office in after hr security building (no external access)
Additional benefits
Theft Without Forcible and Violent Entry
Optional cover
Theft of Property Insured in the open air
Applicable Excess
Excess
Sum Insured
$ 5,000 $ Not Insured $ Not Insured
Not Insured
No
$ 20,000
$ 5,000
$ 250
Public and Products Liability cover section
General Liability and Products Liability
Limit of liability
$ 20,000,000
Details of Business
Property Owner Liability only
Contractors and Subcontractors
Do you engage contractors and/or subcontractors in your business Yes
No
Labour Hire
Do you engage labour hire or hired in labour in your business No
Other Details (if applicable)
Do you require cover for inspection reports and certificates (personal injury or property damage) Do you require cover for inspection reports and certificates (financial losses only)
Additional benefit
Property in Your physical or legal control No
No
$ 250,000
Applicable Excesses
All Property Damage claims $ 500
Endorsements
Endorsement # 1
Name Code Wording
PROPERTY OWNERS EXCLUDING TRADE RIS BPPS50
PROPERTY OWNERS EXCLUDING TRADE RISK The Public and products liability cover section of this Policy does not cover liability in respect of Personal injury, Property damage or Advertising injury arising out of or in connection with any Business, Profession, Trade or Manufacturing Operations other than as owner of Property (the subject of this Indemnity) conducted by You.
Glass cover section
External Glass Internal Glass
Specified Glass
Additional benefit - Signs
Applicable Excess
Excess Yes Yes Not Insured
$ 10,000
$ 250
Note: This invoice and schedule is only a summary which should be read in conjunction with your Policy Wording for the full scope of cover provided and exclusions that may apply.
Refunds and Reservation of Remuneration
If there is a refund of premium owed to you as a result of a cancellation or alteration to a policy (excluding cancellation within the cooling off period), we will retain any fee we have charged you and reserve the right to retain the full commission.
IMPORTANT INFORMATION
Please read this information carefully and contact us immediately if you have any queries. YOUR DUTY OF DISCLOSURE
Before you enter into a Contract of general insurance with an Insurer, you have a duty under the Insurance Contracts Act 1984 to disclose to the Insurer every matter that you know, or could reasonably expect to know, is relevant to the Insurer’s decision whether to accept the risk of insurance and if so, on what terms. You have the same duty to disclose those matters to the Insurer before you renew, extend, vary or reinstate a Contract of general insurance. Your duty however does not require disclosure of matter, that diminishes the risk to be undertaken by the Insurer, that is common knowledge, that your Insurer knows or, in the ordinary course of business, ought to know as to which the compliance with your duty is waived by the Insurer.
NON-DISCLOSURE
If you fail to comply with your duty of disclosure, the Insurer may be entitled to reduce the liability under the Contract in respect of a claim or may cancel the Contract. If your non-disclosure is fraudulent, the Insurer may also have the option of avoiding the Contract from its beginning. If you are not fully satisfied with our services, you should contact our customer relations/complaints officer.
YOUR INSURANCE BROKER PTY LTD
We also subscribe to the Australian Financial Complaints Authority (AFCA), which is a free customer service and the General Insurance Brokers Code of Practice. Further information is available from this office or contact the AFCA on 1800 931 678 or go to www.afca.org.au
Average Clause – Underinsurance
Personal insurance (e.g. home and contents policies), and Business insurance (e.g. fire, business interruption, industrial special risks) often contain an average clause. Such clauses enable the insurer to reduce your claim settlement in proportion to the amount of any underinsurance. Therefore, you should always insure for full value, which may be replacement, indemnity or market value depending on the type of cover arranged.
Changes to your Risk and Change of your Circumstances
Advise us immediately of any changes to the risk covered or your circumstances. Some examples of such changes are: change of location, risk, activity, insured names, values to be insured, installation or removal of smoke or burglar alarms and the like.
Claims
To ensure any entitlement under your policy is protected, you must report all incidents that may give rise to a claim against you to the Insurers without delay after such incidents come to your attention and prior to the expiration of the policy period. Your attention is also drawn to the fact that your policies do not provide indemnity in respect of events that occurred PRIOR to commencement of the insurance contract.
Cooling Off Period
This product is subject to a Cooling Off Period which means you are entitled to a minimum 14 day cooling off period during which time you may return the policy and receive a premium refund. We will return the commission to the Insurer, however we reserve the right to retain our fees. The cooling off period is subject to legal requirements and terms and conditions of the policy. You should check the relevant Product Disclosure Statement (PDS) for full details.
Insured Name and Interests of Other Parties
Always ensure you advise us of every interested entity so that each can be properly advised to the insurer and noted as insured and/or for their respective rights and interests. Most policies will exclude indemnity to parties unless their interest is noted on the policy.
Leasing, Hiring and Borrowing Property
When you lease, hire or borrow property, make sure that the contract clearly identifies who is responsible to insure the property. This will help avoid arguments after a loss and ensure that any claims are efficiently processed.
Premium Funding Non Payment
In the event you fail to fulfil the requirements of a funding contract, the premium funder has full power of attorney over your policy(ies). The funder can request the Insurer to cancel your policy(ies) and the funder has the right to any refund of premium. In this instance we are obliged to act on the instructions of the Funder.
PDS/Product Disclosure Statement
The PDS will be provided to you (or will be passed to you as soon as it is received from the Insurer). It is in your best interests to read this document without delay and advise us of any aspects which are not clear to you or where any aspect of the cover does not meet with your requirements.
Privacy
We are committed to protecting your privacy. We use the information you provide to advise about and assist with your insurance needs. We provide your information to insurance companies and agents that provide insurance quotes and offer insurance terms to you or the companies that deal with your insurance claim (such as loss assessors and claims administrators). Your information may be given to an overseas insurer (like Lloyd’s of London) if we are seeking insurance terms from an overseas insurer, or to reinsurers who are located overseas. We will try to tell you where those companies are located at the time of advising you. We also provide your information to the providers of our policy administration and broking systems that help us to provide our products and services to you. We do not trade, rent or sell your information. If you don’t provide us with full information, we can’t properly advise you, seek insurance terms for you, or assist with claims and you could breach your duty of disclosure. For more information about how to access the personal information we hold about you and how to have the information corrected and how to complain if you think we have breached the privacy laws, ask us for a copy of our Privacy Policy or visit our website for more details.
Underwriting Agency or other Financial Services Provider
If you instruct us to place your insurance with an Underwriting Agency or another Financial Services Provider, you are entitled to receive a Financial Services Guide (FSG) as issued by that provider. This can be provided to you on request.
Utmost Good Faith
Every contract of insurance is subject to the doctrine of utmost good faith which requires that the parties to the contract should act toward each other with the utmost good faith. Failure to do so on your part may prejudice any claim or the continuation of cover provided by Insurers.
Mr D Turton PO Box 1446 BUDDINA QLD 4575
P O Box 1444 Caloundra,QLD 4551 Ph: 1300 139 931 Email: info@yib.com.au Web: http://www.yib.com.au
RENEWAL TAX INVOICE
Date: 23/02/2022 Invoice Number: 098186 Account Manager: Ian Ferris
Thank you for using our services to arrange this insurance cover.
Brief details of cover arranged on your behalf are given below. You should refer to the policy documents issued by the insurer for complete policy terms and conditions.
Please read carefully the important notices attached regarding your duty of disclosure. Do not hesitate to contact us with any questions you may have.
Type of Policy
Industrial Special Risks Insurance
Insured DPT Property Pty Ltd ATF The DPT Trust Policy Description 262-264 Brisbane Road Monkland Policy Number REC001DPTPR2022 Period of Insurance 28/02/2022 to 28/02/2023 Effective Date 28/02/2022 Insurer Criterion Group Holdings Pty Ltd Underwritten By Corniche Underwriting Ltd
Premium FSL Underwriter Fee Stamp Duty Broker Fee GST Invoice Total
$25,667.35 $0.00 $2,750.00 $2,310.06 $3,179.63 $592.96 $34,500.00
Payment Options
Account Name: Your Insurance Broker Pty Ltd BSB: 084484 Account Number: 761538649 Payment Reference: 098186
Mail this portion with your cheque payable to: Your Insurance Broker Pty Ltd P O Box 1444 Caloundra,QLD 4551 Premium Finance is available. Call 07 5491 9000 or 1300 139 931 to arrange a quotation. Finance and administration charges apply.
Name: DPT Property Pty Ltd as Trustee for the DPT Trust Client ID: 10456 Invoice No: 098186
Please call 07 5491 9000 or 1300 139 931 to pay by credit card.
Total Due: $34,500.00
Notes: 262-264 Brisbane Road Monkland
INDUSTRIAL SPECIAL RISKS INSURANCE POLICY
Unique Market Refence: REC001DPTPR2022
Insured: DPT Property Pty Ltd ATF The DPT Trust
Period of Insurance: From: 28th February, 2022 16.00hrs Local Standard Time at the premises insured
Business Description: Property Owner of primarily a Cardboard and Paper baling facility. Small amounts of plastics and textiles recycling.
Taxes Payable by Insured And Administered by Insurers: None Applicable
Excess: AUD 25,000 any one occurrence
Operative Sections: Section A – Material Damage (Specified Perils 1 – 10) INSURED
Section B – Business Interruption
(Specified Perils as per Section A) INSURED
Section C – Glass and Sanitary Ware NOT INSURED
It is noted within the Policy that certain Specified Perils may not have been listed within this section and, on this basis, this insurance does not cover damage caused directly or indirectly by or arising from or out of these Specified Perils or subsequent damage to any other property resulting there from.
Total Sum Insured or Limits Per Each Insured Sections: Section A – Material Damage AUD 950,000 Section B – Business Interruption AUD 287,500 Section C – Glass and Sanitary Ware AUD Nil
Total Sum Insured or Limits Per Each Insured Premises: Location 1 – 262-264 Brisbane Road, Monkland, Queensland, 4570
Section A – Material Damage
Buildings (Standard Construction) AUD 925,000 Buildings (Non Standard Construction & Outbuildings) AUD Nil
Machinery (In Secure Buildings) AUD Nil Machinery (In the Open) AUD Nil General fixtures, fittings & other contents (In Secure Buildings) AUD 25,000 General fixtures, fittings & other contents (In the Open) AUD Nil Stock in Trade (In Secure Buildings) AUD Nil Stock in Trade (In the Open) AUD Nil Stock of Non Ferrous Metals (In Secure Buildings) AUD Nil Stock of Non Ferrous Metals (In the Open) AUD Nil Stock of Fuel/Diesel/Oil & Fuel Tanks (In Secure Buildings) AUD Nil Stock of Fuel/Diesel/Oil & Fuel Tanks (In the Open) AUD Nil Customers Goods & Goods held in Trust (In Secure Buildings) AUD Nil Customers Goods & Goods held in Trust (In the Open) AUD Nil Computer & Electrical Office Equipment (In Secure Buildings) AUD Nil Computer & Electrical Office Equipment (In the Open) AUD Nil Miscellaneous Items (In Secure Buildings) AUD Nil Miscellaneous Items (In the Open) AUD Nil
Buildings are insured on Reinstatement basis
All other items insured within this Policy are insured on Indemnity basis
Section B – Business Interruption
Gross Profit AUD Nil (Maximum Indemnity Period N/A Months) Increase in Cost of Working AUD Nil (Maximum Indemnity Period N/A Months) Additional Increase in Cost of Working AUD 100,000 (Maximum Indemnity Period 12 Months) Loss of Rent Receivable/Payable AUD 187,500 (Maximum Indemnity Period 18 Months)
It is noted that if any sum insured limits or sub-limits are not either included above or within the wording then these items are not covered within the Policy.
Loss Limit: It is noted within the Policy that there is no uplift applicable in relation to the sums insured detailed above, unless stated otherwise within Recyclesure Waste & Recycling Material Damage Combined Policy Wording 2020 (Australia)(Version 1)
Territorial Limits: The states and territories of Australia
Choice of Law & Jurisdiction: LAW: Australian Law
JURISDICTION:
It is hereby agreed that this Insurance shall be governed by Australian law and that the courts of Australia shall have jurisdiction in any dispute arising hereunder.
Recording, Transmitting & Storing Information: Where Corniche Underwriting trading as Recyclesure maintains Risk and Claim data / information / documents they may hold and store the data / information / documents electronically.
Claims Administration: All claims to be notified to Corniche Underwriting Ltd trading as Recyclesure.
Insurer Contract Documentation: The Policy Wording and the Policy Schedule (including any Policy Schedule issued in substitution) constitutes the contract documentation.
All amendments to the contract and the contract documentation must be approved in writing by the INSURER and appended to this contract by way of endorsement.
Information: - It is noted within the Policy that the terms and conditions are based upon the information that has been disclosed to Corniche Underwriting Ltd trading as Recyclesure. If any information is incorrect or alters then please contact the INSURER immediately as it may affect the terms and conditions.
- Claims History (5 years): 30.03.2017 – minor storm damage – AUD 446.50
- It is noted that General Policy Exception 19) Storm is removed from the Policy. All other terms and conditions remain unaltered.
- The following Specified Peril is added to the Policy under Section A – Material Damage:
12) STORM
All other terms and conditions remain unaltered.
- The following definition is included under General Policy Definitions: STORM shall mean a violent disturbance of the atmosphere manifested by severe winds accompanied by: a) rain snow or hail b) and/or thunder and lighting however, excluding named storms and named cyclones All other terms and conditions remain unaltered.
- It is noted within the Policy that the pallet wrapping machine is exempt from Risk Requirement 6 (detailed within SECON Site Risk Report, survey date 16.04.2021) and the Combustible Waste – 6 meters condition.
As per the Electrical machinery isolation – daily operations condition, the item must be turned off and disconnected from any power source outside normal hours of operation. All other terms and conditions remain unaltered
- It is noted within the Policy that, in respect of General Policy Condition 17) Combustible WASTE and STOCK in the Open and Risk Requirement 2 (detailed within SECON Site Risk Report, survey date 16.04.2021), bagged plastic must be kept in allocated mobile cages and stored either inside the locked building or 6 metres from the awning and main building footprint. The above is applicable outside normal hours of operation. All other terms and conditions remain unaltered.
- It is noted within the Policy that the items (including (but not limited to) Exclusions and Policy Conditions) detailed under the Additional Terms and Conditions section of this Schedule have been applied specifically to this contract and so, where there is any dispute between the documents, take precedence over Recyclesure Waste & Recycling Material Damage Combined Policy Wording 2022 (Australia) (Newpoint) (Version 1). All other terms and conditions remain unaltered.
SECURITY DETAILS
Order Hereon: 100% of 100% of whole
Lines Clause: This Insurance, being signed for 100% of 100%
Several Liability Notice Insurance
In instances where there is more than one insurer subscribing to this contract of insurance, the subscribing insurers’ obligations under the contract or insurance is several and not joint and is limited solely to the extent of their individual subscriptions. The subscribing insurers are not responsible for the subscription of any cosubscribing insurer who for any reason does not satisfy all or part of its obligations.
(Re)Insurers Liability Clause (Re)Insurer’s liability several not joint
In any instances where there is more than one insurer subscribing to this contract of insurance, the liability of a (re)insurer under this contract is several and not joint with other (re)insurers party to this contract. A (re)insurer is liable only for the proportion of liability it has underwritten. A (re)insurer is not jointly liable for the proportion of liability underwritten by any other (re)insurer. Nor is a (re)insurer otherwise responsible for any liability of any other (re)insurer that may underwrite this contract.
The proportion of liability under this contract underwritten by a (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is detailed on this schedule. This is subject always to the provision concerning “signing” below.
In the case of a Lloyd’s syndicate, each member of the syndicate (rather than the syndicate itself) is a (re)insurer. Each member has underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable only for that member’s proportion. A member is not jointly liable for any other member’s proportion. Nor is any member otherwise responsible for any liability of any other (re)insurer that may underwrite this contract. The business address of each member is Lloyd’s, One Lime Street, London EC3M 7HA. The identity of each member of a
Lloyd’s syndicate and their respective proportion may be obtained by writing to Market Services, Lloyd’s, at the above address.
Proportion of liability Unless there is “signing” (see below), the proportion of liability under this contract underwritten by each (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together) is detailed on this schedule and is referred to as its “written line”.
Where this contract permits, written lines, or certain written lines, may be adjusted (“signed”). In that case a schedule is to be appended to this contract to show the definitive proportion of liability under this contract underwritten by each (re)insurer (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of the syndicate taken together). A definitive proportion (or, in the case of a Lloyd’s syndicate, the total of the proportions underwritten by all the members of a Lloyd’s syndicate taken together) is referred to as a “signed line”. The signed lines shown in the schedule will prevail over the written lines unless a proven error in calculation has occurred.
Although reference is made at various points in this clause to “this contract” in the singular, where the circumstances so require this should be read as a reference to contracts in the plural.
Basis of Written Lines: Percentage of Whole
Insurer(s): Newpoint Reinsurance Company Limited – 100%
EXTENSIONS TO COVER:
EXCLUSIONS: Stock and Waste in the open Exclusion
This Policy does not cover damage caused directly or indirectly by or arising from or out of STOCK and/or WASTE MATERIAL in the open or subsequent damage to any other property resulting there from.
All other terms and conditions remain unaltered.
RDF, SRF and MSW Exclusion
This Policy does not cover damage caused by or arising directly or indirectly from or out of any Refuse Derived Fuel (RDF), Solid Recovered Fuel (SRF), or Municipal Solid Waste (MSW) located at the PREMISES.
All other terms and conditions remain unaltered.
Shredding of wood or tyres Exclusion
This Policy does not cover damage caused by or arising from or out of the shredding of wood or tyres at the PREMISES.
All other terms and conditions remain unaltered.
Lithium batteries Exclusion
This Policy does not cover damage caused directly or indirectly by or arising from or out of the processing of lithium batteries or subsequent damage to any other property resulting there from.
This Policy does not cover damage caused directly or indirectly by or arising from or out of any lithium batteries located at the PREMISES or subsequent damage to any other property resulting there from.
All other terms and conditions remain unaltered.
Installation, testing and commissioning Exclusion
This Policy does not cover damage caused directly or indirectly by or arising from or out of any MACHINERY undergoing installation testing commissioning intentional overloading or similar tests requiring the imposition of abnormal conditions or experiment caused by and occurring during the checking of the correct working of the MACHINERY or of safety installations in connection herewith.
All other terms and conditions remain unaltered.
TENANT compliance Exclusion
This Policy does not cover damage caused directly or indirectly by or arising from or out of the TENANT’S failure to comply with the terms and conditions of this Policy or subsequent damage to any other property resulting there from.
All other terms and conditions remain unaltered.
COMMUNICABLE DISEASE Exclusion
This Policy does not cover any loss liability cost or expense or any other amount incurred by the INSURED directly or indirectly arising out of originating from resulting from caused by and or contributed to by regardless of any other cause contributing concurrently or in sequence to the loss or otherwise in connection with any COMMUNICABLE DISEASE or threat or fear of COMMUNICABLE DISEASE (whether actual or perceived) or the outbreak of an Epidemic or Pandemic whether declared as such or not or any action taken by any party to treat or prevent the spread thereof.
For the purposes of this Policy COMMUNICABLE DISEASE shall mean any disease that spreads from one human to another or from animal to human by either transmission of bacteria viruses or other pathogen between the carrier and the infected person or through a vector such as food contaminated by the carrier and consumed by the infected person.
All other terms and conditions remain unaltered. As may exist in the standard policy wording.
POLICY CONDITIONS:
Automatic Fire Alarm Addendum
It is noted within the Policy that the fire detection system must cover the offices, staffroom and factory (as detailed within Risk Requirement 3 of the SECON Site Risk Report, survey date 16.04.2021).
It is noted within the Policy that fixed point heat detectors are not satisfactory for ensuring compliance with this addendum (as detailed within Risk Requirement 3 of the SECON Site Risk Report, survey date 16.04.2021).
General Policy Condition 12) Fire Alarms is amended to read as follows:
12) Fire Alarms
The INSURED must ensure that a) the BUILDINGS are protected with an automatic fire alarm installation connected to a central station or reporting to a public or private fire alarm station; and b) the INSURED shall i. keep in force during the currency of the Policy a contract to maintain the automatic fire alarm system in proper working order; and ii. carry out testing and checking requirements referred to on the completion certificate; and iii. carry out the maintenance procedures specified by the manufacturers of the equipment; and iv. notify the INSURER immediately of any disconnection or failure of the automatic fire alarm installation that leaves any area unprotected; and
v. keep contemporaneous records of all events such as alarms, faults, tests, maintenance and disconnections and keep such records available for inspection by the INSURER. c) should any defect in the automatic fire alarm installation be discovered the INSURED shall notify the maintenance company immediately and give immediate instruction for the necessary repairs to be carried out.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Shredding within Buildings / Fixed Structures
In respect of all shredding of WASTE or Waste-containing material undertaken inside any BUILDINGS or within the footprint of any open-sided structures, the INSURED must ensure that: 1) all shredders are attended by an operative with a suitable fire extinguisher at all times when the shredders are operational; and 2) at least once per day, all shredding equipment and associated items including (but not limited to) conveyors and hopper feeds must be thoroughly and effectively be cleaned of residual WASTE, dust and fly. If modifications or alterations to the associated equipment including (but not limited to) conveyors and hopper feeds are reasonably necessary in order to allow for the thorough and effective cleaning of residual WASTE, dust and fly it is the INSURED’S responsibility to ensure that such modifications or alterations are carried out as soon as possible; and 3) formal contemporaneous records of the cleaning pursuant to 2 above, detailing the date, time and person responsible for such cleaning, must be kept and made available to the INSURER and/ or their representatives on request.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Vehicles and trailers – overnight parking
The INSURED must ensure that road vehicles and/or trailers are not left within BUILDINGS or workshops OVERNIGHT.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Combustible Waste – 6 metres
The INSURED must ensure that all combustible WASTE MATERIAL is situated at least 6 metres from any fixed or mobile MACHINERY at all times outside normal hours of operation. It is noted within the Policy that the minimum 6 metres separation distance can be reduced if there is a non-combustible partition or wall between the combustible WASTE MATERIAL and the MACHINERY.
The INSURED must ensure that all combustible WASTE MATERIAL is situated at least 2 metres from any potential heat sources (for example electrical switchboards, roller door motors, charger units etc) at all times outside normal hours of operation.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
CCTV
The INSURED must ensure that: a) the PREMISES are fitted with a CCTV system which: i) is in effective working order throughout the policy period; and ii) covers all inside areas of the BUILDINGS at the PREMISES; and iii) covers all outside areas at the PREMISES; and iv) is recorded on-site by the INSURED at all times and the INSURED must ensure compliance with one of the following options: * either, the on-site CCTV recording unit must be situated at least 10 metres from any process/storage BUILDINGS and areas; and * or, the footage must be backed up to cloud storage; and * or, the footage must be backed up to a 3rd party location; and v) is subject to a maintenance contract to ensure that the CCTV is kept in effective working order; and b) the recorded footage from the CCTV system must be made available for inspection by the INSURER on request. The recorded footage must be held for a minimum of 14 days.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have restricted the INSURER’S ability to adjust any potential claim or have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Waste within Buildings
The INSURED must ensure that loose combustible WASTE MATERIAL is located within BUILDINGS for no longer than 96 hours from the moment that it first enters the BUILDING.
The INSURED must ensure that no more than 15 tonnes of loose combustible WASTE MATERIAL is located within BUILDINGS at any one time.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Timber pallets
It is noted within the Policy that this condition is added in line with Risk Requirement 6 detailed within the SECON Site Risk Report (survey date 16.04.2021).
The insured must ensure that timber pallets are stored inside the entrance of the locked building outside normal hours of operation.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Waste clear-up - daily operations
The INSURED must ensure that, OVERNIGHT, all combustible STOCK and/ or WASTE MATERIAL is removed from trommels, shredders and/ or hopper feeds and balers.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Electrical machinery isolation – daily operations
The INSURED must ensure that, at the end of daily operations, all MACHINERY must be electrically isolated.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Unprocessed Waste deliveries
The INSURED must not accept deliveries of unprocessed WASTE within 1 hour of the end of daily operations.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this conditions unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Change of Occupancy
The INSURED must ensure that any changes of TENANTS are advised in writing to the INSURER for their agreement prior to any change of occupancy taking place. The INSURER reserves the right to alter Policy terms, or cancel the Policy, following such notification.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
All other terms and conditions remain unaltered.
Risk Requirements
The INSURED must ensure that all risk requirements included within the SECON Site Risk Report (survey date 16.04.2021) are being complied with at all times. The report is held and kept on file by Corniche Underwriting Ltd trading as Recyclesure.
The INSURER will not make any payment under this Policy in respect of any incident occurring while the INSURED is not in compliance with this condition unless the INSURED can demonstrate that such noncompliance could not have restricted the INSURER’S ability to adjust any potential claim or have increased the risk of the loss, damage, accident or injury occurring in the circumstances in which it occurred.
