MR 1267 – Special Conditions: Serial Losses

SPECIAL CONDITIONS: SERIAL LOSSES #

This endorsement forms part of

Section 1a yes/no
Section 1b yes/no

and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon.

1. Condition
   1.1. The insurer shall in respect of loss or damage resulting from a fault, defect, error or omission in design, plan, specification, material or workmanship of the same nature indemnify the insured according to the scale specified in clause 2.

2. Limit of indemnity
   2.1. After application of the deductible the insurer shall indemnify the insured for:
   

of the first 2 loss amounts
of the 3rd loss amount
of the 4th loss amount
of the 5th loss amount

2.2. The insurer shall not indemnify the insured for the 6th and following cases of loss or damage resulting from causes of the same nature.