Highest VAT Payer Award
2012 by National Board of Revenue (NBR)
SECTION-1 MATERIAL DAMAGE
The Insurer hereby agree with the Insured that if at any time during the period of cover the items or any part thereof entered in the Schedule shall suffer any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded, in a manner necessitating repair or replacement, the Insurer will indemnify the Insured in respect of such loss or damage as hereinafter provided by payment in cash, replacement or repair (at their own option) up to an amount not exceeding in respect of each of the items specified in the Schedule the sum set opposite thereto and not exceeding in anyone event the limit of indemnify where applicable and not exceeding in all the total sum expressed in the Schedule as insured hereby.
SECTION II- THIRD PARTY LIABILITY
The Insurer will indemnify the Insured up to but not exceeding the amounts specified in the Schedule against such sums which the Insured shall become legally liable to pay as damages consequent upon
occuring in direct connection with erection, construction or testing of the items insured under Section 1 and happening on or in the immediate vicinity of the site during the Period of Cover.In respect of a claim for compensation to which the indemnity provided herein applies, the Insurer will in addition indemnify the Insured against,
provided always that the liability of the Insurer under this section shall not exceed the limits of indemnity stated in the Schedule.
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09643214070Nitol Insurance is a prominent private non-life insurance company in Bangladesh, renowned for its industry leadership and extensive coverage. It holds a significant position within the country's insurance sector, highlighting its pivotal role in the market.
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Insurance like homeowners, renters, or commercial policies offer financial protection against fire-related losses, covering property damage and living expenses.
View Details
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