# Conditions

## I. General

1. **Scope of Insurance**: The insurance provided under this policy covers the named insured against loss or damage to property, including machinery and equipment, arising out of the named insured's business operations.

2. **Exclusions**: The policy does not cover losses or damages caused by war, civil commotion, riot, strike, or other similar events.

3. **Liability Limitation**: The liability of the company under this policy is limited to the amount specified in the Declarations.

4. **Premium Payment**: The named insured shall pay the premium as specified in the Declarations at the time of application for the policy. Any additional premium required during the policy period shall be paid to complete the policy.

## II. Compensation: The Beneficiary as we state in the Declarations shall be entitled to receive compensation from the Company for any loss or damage covered under this policy, subject to the limits of liability stated in the Declarations.

## III. Loss Adjuster: The Company may appoint an independent loss adjuster to investigate and settle claims under this policy. The named insured shall cooperate with the loss adjuster in the investigation and settlement of claims.

## IV. Audit: The Company may conduct an audit of the named insured's books and records at any time during the policy period and immediately after the expiration of the policy period, or at the Company's discretion. The named insured shall provide access to all relevant documents and information related to its business operations.

## V. Action Against Company: No action shall lie against the Company unless the named insured has fully complied with all the terms of this policy, per the Company's reasonable requirements. If the named insured fails to comply with these terms, the Company may terminate the policy without notice.

## VI. Assignment of Interests: The named insured may assign its interest in this policy to another party, but such assignment must be made in writing and approved by the Company. The Company may also assign its rights under this policy to another party.

## VII. Cancellation: This policy may be canceled by the named insured by providing written notice to the Company or any of its authorized agents, or by mailing to the Company written notice when thereafter the cancellation is effective. This policy may be canceled by the Company by mailing to the named insured at the address shown in this policy a notice stating that the policy will be canceled on a date not less than ten days thereafter; such cancellation shall be effective upon receipt of such notice, provided that proof of notice is given. The time of surrender or the effective date and amount of premium due shall be stated in the policy period. Delivery of written notice either by the named insured or the Company shall be deemed to constitute and effect the cancellation of the policy.