MR 1365 – Special Conditions: Rewinding of Electric Machines (e.g. Motors, Generators, Transformers)

SPECIAL CONDITIONS: REWINDING OF ELECTRIC MACHINES (e.g. Motors, Generators, Transformers) #

This endorsement forms part of section 1 and is subject otherwise to the terms, provisions, conditions and exclusions contained in the policy of insurance or endorsed thereon.

1. Condition
   1.1. In the event of partial loss of or damage to electric machines that necessitate the rewinding of electric coils and/or replating, the amount indemnifiable in respect of the pure work of rewinding and replating shall be depreciated at an annual rate to be determined at the time of the loss, this rate being not less than 5% per annum, but not more than 60% in total.