This policy provides coverage under three sections
Section 1: Equipments
• Covers any unforeseen and sudden physical loss or damage to electronic equipments.
Section 2: External Data Media
• Expenses incurred within 12 months from the date of occurrence of loss, necessary for restoring the insured data media to pre-accident condition is covered.
Section 3: Increased Cost of Working
• Covers all additional costs incurred to ensure continued data processing on substitute equipment.Electronic Equipment Policy Exclusions
Major exclusions under this policy include:
• Pre-existing faults or defects, normal wear and tear, erosion, corrosion, etc.
• Costs towards elimination of functional failures unless such failures were caused by an indemnifiable loss or damage to the insured items.
• Maintenance cost of the insured items
• Loss or damage to objects made of glass, porcelain or ceramics, sieves or any operating media
• Aesthetic defects such as scratches on painted or enameled surfaces
• Costs arising from false programming, punching, labeling or inserting, inadvertent cancelling of information or discarding of data media, and from loss of information caused by magnetic fields.
• Costs for replacement of data media, data and regeneration of data.
Loss or damage due to:
• War and nuclear risks
• Willful act or negligence
• Partial or total cessation of work
• The property falling under the terms of the maintenance agreement.
• Pressure wave caused by aircraft and other aerial devices, if the direct cause of the destruction, loss or damage.