Bonds are a form of financial security/surety offered/issued on behalf of the insured against third parties known as principal guaranteeing fulfilling of financial obligations by the insured.
These may be varying in nature and can be either a form of customs bond, bid bond, tender bond, advance payment bond, performance bond, immigration bond, etc., These bonds indemnify the principals against specified financial defaults by the insured.
This Policy indemnifies the insured for loss from any one occurrence upto, but not exceeding the policy limit against:
Physical loss of or damage to the buildings and contents which belong to the insured or for which the insured is legally responsible, directly caused by one or more of the following perils occurring during the policy period
- Act of Terrorism;
- Riot, Strikes and/or Civil Commotion;
- Malicious Damage;
- Insurrection, Revolution or Rebellion;
- Mutiny and/or Coup d’état;
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