Cost of Rewriting Record and Claim Preparation Clause

COST OF REWRITING RECORD AND CLAIM PREPARATION CLAUSE #

It is hereby agreed that this insurance is extended to cover the cost and expenses necessarily and reasonably incurred by the Insured following loss of or damage to the property insured :

1. to reconstruct and recompile records (but not for the value to the Insured of the information contained therein)
2. to extract and compile information required by the Insurer from the Insured`s own records for the purpose of preparing a claim under the Policy but excluding legal, investigation and research fees/expenses incurred for the purpose of contesting any issue over the Insurer`s Liability under the Policy.

Provided always that :

1. no amount shall be recoverable under this clause if subsequent to the incurrence of any expenses, the Insurer shall deny liability for any claim in respect of which the expenses have been incurred (with or without the consent of the Insurer);
2. the Insurer`s liability does not exceed the limits as specified in the schedule maximum 1% of sum insured.