Property Insurance
- Policy will not pay for remediation, change, correction, repair or assessment of date or time recognition problem in any EDP Equipment or media.
- Policy will not pay for time element loss resulting from change, correction, repair or assessment of date or time recognition problem in any EDP Equipment or media.
- Failure of EDP equipment or media to correctly recognize, calculate, compare, differentiate, sequence access or process data involving one or more dates or times is not physical loss or damage covered by the policy. The policy will not pay for time element loss resulting from such incident(s).
- Policy excludes physical loss or damage to data resulting from (1) above.
- Policy excludes physical loss or damage to data resulting from a failure of EDP equipment or media as the result of failure to correctly recognize, calculate, etc.
The policy will pay for physical loss or damage not excluded above which results from a failure of EDP Equipment or media to correctly recognize, interpret, calculate, compare, etc.
The covered resulting physical loss does not include any loss cost or expense as outlined in 1 through 5 above.
Scenario:
Assume that due to an electrical problem it prevents one of our building's heating and air conditioning unit from turning on at specified intervals. No coverage for expenses incurred to remediate, repair, correct, etc., exists.
Scenario:
Assume that due to an electrical problem a fire alarm does not ring. The building burns. Damage to the building (other than damage from the electrical problem to the fire alarm system) is covered. |
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