Insurance Policy Extract - Mark IV Industrial Special Risks - Basis of Settlement On Stock

(b) On raw materials, supplies and other merchandise not manufactured by the Insured: the replacement cost at the time and the place of replacement or, if such property is not replaced, the value thereof at the time and place of the damage.

(c) On material in process of manufacture: the replacement value of the raw materials and the value of labour and other overhead charges expended thereon at the time and the place of the damage.

(d) On finished goods: the replacement value of the raw materials and the value of labour and other overhead charges expended thereon before any allowance for profit or the cost of re-stocking such goods, whichever is the lesser.

Insurance Policy

Country: - Australia

Policy Description: - Mark IV Industrial Special Risks (ISR) policy

Insurer: - Various

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