MR 14016 – Special Insurance Exclusion: Betterment Exclusion

SPECIAL INSURANCE EXCLUSION: BETTERMENT EXCLUSION #

This endorsement forms part of Section I and is subject otherwise to the terms, provisions, conditions, limitations and exclusions contained in the Policy or endorsed thereon except for the following:

1. Exclusion
   Clause 3.4.1 of the Exclusions at Section I – Project Works shall be deleted and replaced by the following wording:

   “3.4.1 Any costs rendered necessary to replace, repair or rectify any property which is defective as a result of any fault, defect, error or omission in design, plan or specification, material or workmanship, but should any part of the Property Insured containing any such defect become lost or damaged, the costs excluded are those which the Insured incurred to improve the original design, plan or specification, material or workmanship;

   For the purpose of the Policy and not merely this exclusion it is understood and agreed that any portion of the Property Insured shall not be regarded as damaged solely by virtue of the existence of any defect of material workmanship design plan or specification.”