Insured Works definition
Examples of Insured Works in a sentence
In the event of recurrence of Rising Damp, the Policy excludes consequential fungal decay of adjacent timbers unless these formed part of the Insured Works and are covered by the Policy.
In the event the Tenant fails to insure the Insured Works in accordance with its obligations pursuant to this Clause the Developer shall be entitled (but not obliged) to insure or cause to be insured the Insured Works (so far as the same are from time to time built and excluding Tenant’s furniture and contents) against the Insured Risks.
The Policy will not pay for any remedial works undertaken to the Insured Works without the prior consent of the Claims Administrator on behalf of the Insurer.
The liability of the Insurer for all claims in the aggregate under the Insurance shall not exceed £50,000 where the Insured Works are a Wall Tie or a Lateral Restraint installation; or £100,000 for all other Insured Works except Structural Waterproofing where the liability of the Insurer shall not exceed 120% of the original Contract Price as shown in the Policy.
The Policy does not cover defects which arise as a result of the failure to carry out any recommendations given by the Service Organisation in writing which are the responsibility of the Insured to have carried out within 12 weeks of completion of the Insured Works and can be evidenced by a dated and receipted invoice from an appropriate contractor.
The Policy does not cover defects resulting from structural alterations to the Property or the reappearance of Rising Damp if the installation to cure dampness has been interfered with or altered in any way since the Insured Works were undertaken.