BIBLIOLABS, LLC - Laserfiche WebLink

Home Browse Search

CNA CNA PARAMOUNT Business Property Coverage Part b. the reasonable cost to tear out and replace any part of the covered building or other property as needed to gain access to the fungi, wet rot, dry rot or microbes; and c. the cost of testing performed after removal, repair, replacement or restoration of the damaged property is completed, provided there is reason to believe that fungi, wet rot, dry rot or microbes are still present. 2. To the extent time element coverage is applicable at that location or reported unspecified location, the Insurer will also pay, as provided, for: a. the actual loss of business income the Named Insured sustains during the period of restoration due to the necessary suspension or delay in operations; b. the actual loss of research and development business income the Named Insured sustains during the period of restoration due to the necessary suspension or delay of research and development projects; and c. extra expense, due to the: direct physical loss of or damage to covered property caused by fungi, wet rot, dry rot or microbes that are the result of a covered peril, other than fire or lightning; or ii. prolonged period of restoration due to the remediation of fungi, wet rot, dry rot or microbes from a covered loss. 3. The most the Insurer will pay under this ADDITIONAL COVERAGE for all loss, damage, cost or expense combined in the policy period is the Fungi, Wet Rot, Dry Rot and Microbe Coverage — Property Damage and Time Element Combined Aggregate Limit of Insurance. This Limit is the most the Insurer will pay, even if the fungi, wet rot, dry rot or microbes continue to be present or active or recur in a later policy period. 4. The Fungi, Wet Rot, Dry Rot and Microbes Excluded Peril under the EXCLUSIONS section does not apply, but only to the extent of the coverage provided under this ADDITIONAL COVERAGE. L. Loss Adjustment Expense Coverage The Insurer will pay for reasonable and necessary expenses incurred by the Named Insured in preparing claim data when required by the Insurer, including the cost of taking inventories, obtaining appraisals and preparing other documentation, to determine the extent of covered loss or damage. 2. The Insurer will not pay for any fees, costs or expenses incurred, directed or billed by, or payable to attorneys, public adjusters, loss adjusters, loss consultants, insurance brokers or agents or their associates or subsidiaries, or any costs as described in the APPRAISAL Condition of the First Party Terms and Conditions. The most the Insurer will pay for all expenses incurred under this ADDITIONAL COVERAGE for any one occurrence is the Loss Adjustment Expense Coverage Limit of Insurance. M. Money and Securities Coverage The Insurer will pay for loss sustained by the Named Insured as a direct result of the actual destruction, disappearance or theft of money and securities: a. at a location, reported unspecified location or the premises of a bank or savings institution; or b. away from: i. a location; ii. a reported unspecified location; or iii. the premises of a bank or savings institution, while in the care and custody of a messenger or an armored motor vehicle cor CNA62648XX 10-15 Copyright CNA All Rights Reserved. �oRaN Risk MmRgemerdDivisiun cREVIEWED & APPROVED BY. - Risk Management Analyst