MR 892 – Indemnity Period Limits Exceeding 12 Months

INDEMNITY PERIOD LIMITS EXCEEDING 12 MONTHS #

It is agreed and understood that otherwise subject to the terms, exclu­sions, provisions and conditions contained in the Policy or endorsed thereon for indemnity period limits exceeding 12 months, the following shall apply:

1. The figures for annual sum(s) insured, annual turnover and standard turnover as defined or stated in the Policy shall be increased in the pro­portion by which the indemnity period limit exceeds 12 months.
2. The accounting period as referred to in Memo 2 – Return of Pre­mium – shall be the agreed indemnity period limit.