Shop Insurance Wordings

Annexure attached to and forming part of Policy No. PYIFPP0004

About Client:

They are providing financial solutions on the digital platform to monitor the business transactions and enhance their business needs through’ Tally based mobile app.

Product Offering:

For covering Shops with the Sum Insured ranging from Rs. 2 Lakh and up to 50 Lakh under ENTERPRISE SHIELD - GROUP ALTERNATE PACKAGE policy as per terms & conditions detailed hereunder..

Terms & Conditions:

General Conditions

1. ENTERPRISE SHIELD - GROUP ALTERNATE PACKAGE (“Group Insurance Policy”) which is offered to the Merchants & Customers of Khatabook who can subscribe to it voluntarily.

2. The information provided in the application / enrollment form shall be the basis of offering risk cover by Royal Sundaram (the Insurer) and shall be filled with correct information.

3. The policy shall be issued in the name of the merchant and the shop as registered with Khatabook and will cover only the shop address registered with Khatabook.

4. This policy provides protection for any loss or damage to contents (Stocks, Furniture & Fixtures and appliances) in the shop against Fire, Lightning, Storm, Floods, Earthquake, Riot, Strike, Malicious Damage and Burglary

5. Policy shall only be valid for the Customers who are aged over 18 years at the time of policy issuance.

6. The policy shall be valid for 1 year and the policy period shall start from the date of successful payment of premium.

7. The structure of the shop to be made up of Pucca construction. Shops in Portable structures and porta cabins are not covered. Building(s) having walls and/or roofs of wooden planks/thatched leaves and/or grass/hay of any kind/bamboo/plastic cloth/asphalt cloth/canvas/ tarpaulin, Tin, Asbestoses or Metal roof and the like shall be treated as ‘Kutcha’ construction and thus excluded and contents inside kutcha construction are not covered. The shop should not be located in the basement nor goods should be stored in the basement.

8. Any deliberate, willful or intentional act shall not be covered.

9. Category of shops to be avoided *: (Shops will be defined as "Location where direct trading to customer takes place"):

No hazardous goods like Celluloid Goods, Coir Loose, Vegetable fibers of any kind including Rayon Fiber, Explosives of any kind, Hay / Straw, Hemp, Jute Loose, Matches, Methylated Spirit, Nitro-Cellulose Plastics and Oils / Ether / Industrial Solvents and other inflammable liquids flashing liquids flashing at and below 32 C should be stored within shop premises.

11. The stocks stored should be within a Closed Compound with Boundary walls on all sides and guarded entry and exit. Stocks kept in open areas will not be covered under the policy.

12. This cover shall be offered to shops having no claim in the preceding 4 years.

13. The existing protection, detection and alarm system should be maintained in good working condition and fully operational throughout the policy period.

14. Consequential damages, such as losses to your business due to fire and other covered perils shall not be covered.

15. Any loss or damage within 15 days from policy start date will not be covered under the policy.

16. Shops located in India are only covered under the policy.

17. The following items will not be covered: Stocks / Goods Stored in Open, High Valued Stocks like Electronic Gadgets (Above 1 Lakh), Watches, Precious Stones/Precious Metal items/Ornaments, Money (Loss of money due to fire up to rupees fifty thousand is only covered), Monetary Instruments like Cheques / Bank Drafts and Valuables of every kind and description.

18. The risk will not be covered if the Shop remains continuously unoccupied for a period of more than 30 days, unless prior written approval from Insurer is obtained.

19. Shoplifting, Mysterious Disappearance & Unexplained Losses (i.e. Accidental Loss) are not covered.

20. In Burglary cover, Theft, Larceny and RSMD are excluded under the policy.

21. FIR is mandatory in case of burglary claims.

22. Refer policy wordings for more details.

23. The proposition would be reviewed periodically, and the first review would take place not later than 6 months.

Other conditions applicable under Certificate of Insurance

Applicable to Section I – Property Insurance

Terms and Conditions:

 Shops and super markets to have a minimum Plinth height of 2 ft from surrounding road level.

 Shops will be defined as "Location where direct trading to customer takes place".

 Contents means store inventory + Furniture fixtures and appliances in the store.

 All cash to be transferred to safe / Locked drawer after business hours.

 Safe means a safe of standard make.

Exclusions:

 Property in Portable structures and porta cabin are not covered

 Stocks kept in open areas will not be covered under the policy.

 All other terms, conditions and exclusions as per standard " ENTERPRISE SHIELD – GROUP ALTERNATE PACKAGE POLICY".

Applicable to Section II – Burglary Insurance

Warranties:

 Warranted that Premises Are Guarded round the Clock with CCTV Surveillance & Recording must be available for at least 7 Days for stock more than 10 Lakh

 Warranted that round the clock watch and ward is available in the premises

Exclusions:

 Theft, Larceny and RSMD

 Subject to Designation of Property Clause

 Goods held in trust are covered if the same is included in the Burglary Sum Insured

Terms and Conditions as per the Enterprise Shield – Group Alternate Package.

Specific conditions applicable to the policy warranties:

 Warranted that Nil Claims for Preceding 4 Years.

 Kutcha construction Exclusion warranty

 Warranted that the property to be insured is of Pucca construction and that external walls and/or roofs are not made with Tin sheets and/or Asbestos sheets in the insured premises, whether in part or in full and contents inside kutcha construction are not covered.

 Warranted existing protection, detection and alarm system to be maintained in good working condition and fully operational throughout policy period.

 Electrical Installation Warranty: Expressly declared to be free from liability for loss of or damage to any electrical machine, apparatus or any portion of the electrical installation arising from or occasioned by over-running, excessive pressure, short-circuiting, self-heating, arcing or leakage of electricity from whatever cause (lightning included) arising.

 Warranted that the premises have no basement or basement is only being used for Parking.

 Warranted that the shop should not have located in the basement and goods are also not stored in the basement.

 Warranted that the stocks stored should be within a Closed Compound with Boundary walls on all sides and guarded entry and exit. Stocks kept in open areas will not be covered under the policy.

 Warranted that no cover for risks located in Earthquake Zone I.

Exclusions

1. Jewellery Shops, Goldsmiths, Silversmiths, Money Lenders, Pawn Brokers and similar Occupations.

2. Stocks/Goods Stored in Open, High Valued Stocks like Electronic Gadgets (Above 1 Lakh), Watches, Precious Stones/Precious Metal items/Ornaments, Money (Unless Money Insurance Cover is specifically Opted. Loss due to fire up to 50,000/- is covered under section 1), Monetary Instruments like Cheques/Bank Drafts and Valuables of every kind and description.

3. Hazardous items like Celluloid Goods, Coir Loose, Vegetable fibres of any kind including Rayon Fibre,

Explosives of any kind, Hay/ Straw, Hemp, Jute Loose, Matches, Methylated Spirit, Nitro-Cellulose Plastics and Oils/Ether/Industrial Solvents and other inflammable liquids flashing liquids flashing at and below 32 C

4. Offices with storage in the premises, warehouses, Art dealers, Saw and wood mills

5. Shop lifting, Mysterious Disappearance, Accidental Loss & Unexplained Losses

6. Buildings with Kutcha construction and contents inside kutcha construction

7. Sanctions Limitation and Exclusions Clause

8. Terrorism is an exclusion (Unless opted as additional section)

9. Cyber Risk Exclusion Clause

10. Infectious Disease / COVID-19 Exclusion: Notwithstanding any provision to the contrary, this insurance excludes any loss, damage, liability, expense, fines, penalties or any other amount directly or indirectly caused by, in connection with, or in any way involving or arising out of any of the following including any fear or threat thereof, whether actual or perceived

 Any infectious disease, virus, bacterium or other microorganism (whether asymptomatic or not); or

 Coronavirus (COVID-19) including any mutation or variation thereof; or

 Pandemic or epidemic, as declared as such by the World Health Organization

 Exclusion LMA 5393 applicable

Terms & Conditions

1. Kutcha Construction definition: Building(s) having walls and/or roofs of wooden planks/thatched leaves and/or grass/hay of any kind/ bamboo/plastic cloth/asphalt cloth/canvas/ tarpaulin and the like shall be treated as Kutcha construction for rating.

2. For Burglary & Theft (within 7 days from the occurrence of and proximately caused by Insured Events) Claim: FIR and Non-Traceable Certificate to be submitted at the time of Claim.

3. Any loss or damage within 15 days of the policy period is not covered.

4. The risk will not be covered if the Shop remains continuously unoccupied for a period of more than 30 days, unless prior written approval from Insurer is obtained.

5. Consequential damages, such as losses to your business due

fire, are not covered.

All other terms, conditions and exclusions as per standard " ENTERPRISE SHIELD – GROUP ALTERNATE PACKAGE POLICY".

Important Notes

1. Cheque dishonour / Non-receipt of payment: If premium paid through Cheque, the policy is void ab-initio in case of dishonour of Cheque or non-receipt of payment.

2. This policy is subject to the standard policy wordings, warranties, exclusions and conditions as per

ENTERPRISE SHIELD – GROUP ALTERNATE PACKAGE POLICY Wordings.

3. The Coverage has been provided by you/proposer to us and the policy is not valid, if any of the information provided is incorrect.

4. Please read the policy terms & conditions for the detailed coverages, limitations & exclusions available in our website www.royalsundaram.in. For any clarification, please call our Toll number 1800 425 0000 or write to [email protected].

Annexure

A. List of category of shops acceptable and excluded

PYIFPP0004 UIN: IRDAN102RP0001V01202425 RS/FPP_Enterprise (GAP)/Jul/2024/V1.0 Page 1 of 2

ROYAL SUNDARAM GENERAL INSURANCE CO. LIMITED Regd Office: 21, Patullos Road, Chennai 600 002. Corporate Office: “Vishranthi Melaram Towers”,2/319, Rajiv Gandhi Salai, Karapakkam, Chennai 600 097. Ph: 91-44-7117 7117, 1860 425 0000. Email:[email protected] Website:www.royalsundaram.in IRDA Regn. No. 102|CIN-U67200TN2000PLC045611

Annexure A attached to and forming part of policy no. PYIFPP0004

B. List of 173 pincodes which shall be excluded