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Insuring Agreement

Now this Policy witnesseth that in consideration of ti汜 Insured having paid

or agreed to pay to Paofoong Insurance Co. (H.K.) Ltd. (hereinafter called

the Company) the premium

TI1e Company hereby agree sub」ect to the terms, exceptions and conditions

contained herein or attached hereto or endorsed hereon that if during tl1e

period of insurance stated in the Schedule or during 皿y nrrtl1er period in

respect of w比ch山e Insured shall have paid and the Comp皿y shall have

accepted premium the Insured shall sustain loss or damage or shall incur

liability in the circumst皿ces provided for by this Policy and defined herein

the Company shall indemnify the Insured in the maru1er hereinafter

described

Section 1- Material Damage

TI1e Company shall indemnify the Insured in respect of loss of or damage to

the Insured Property described in the Schedule whilst at tl1e Site during ti汜

period of insurance arising from any cause whatsoever not hereinafter

excluded.

The Company shall not indemnify the Insured in respect of that part of tl1e

Works

1. which has been taken into use or occupation by the Employer from the

time of such ta.king into use