| Exclusions | - the applicable Excess stated in the Schedule
- fraudulent misappropriation of Insured Property committed by any employee, partner or director of the Insured
- voluntarily parting with title or possession of any Insured Property if induced to do so by any fraudulent scheme, trick or false pretence
- any consequential economic loss including penalties, loss of use of any property, delays or loss of market
- Loss Or Damage caused solely by exposure to weather conditions to Insured Property not normally left in the open unless reasonable precautions have been taken
- unexplained loss or inventory shortages revealed only at stocktaking or shortages due to accounting or clerical errors
- Loss Or Damage caused by or resulting from normal settling, shrinkage or expansion of Building or foundations
- Loss Or Damage caused by landslip, subsidence, erosion or expansion of the ground
- Loss Or Damage to Insured Property deliberately caused by You
- design fault, error or omission in design, plan or specification
- wear and tear, gradual deterioration, corrosion
- vermin or insects
- change in artificially controlled temperature or atmosphere
- fumes, gas, dust, smoke or smuts, action of light, inherent nature of the property, shrinkage, evaporation, loss of weight, change of flavour, colour, texture or finish, pollution, contamination, and interruption of the supply of water, gas, electricity or fuel
- Loss Or Damage to any plant or equipment directly caused by its own electrical malfunction
- Loss Or Damage to Stock undergoing any production process where the Loss Or Damage is directly caused by the normal operation of that process
- Loss Or Damage directly caused by explosion, rupture, bursting, cracking, leakage, collapse, of steam boilers due to fluid pressure within or without (other than pressure caused by chemical explosion)
- Loss Or Damage directly caused by mechanical or electronic breakdown of machinery or electrical equipment
- any costs incurred for the purpose of seismically strengthening the Insured Property to a performance level greater than its performance level before the Loss Or Damage
- shortages caused by errors in receiving or paying out Money
- fraud or dishonesty of any employee of the Insured unless discovered within 72 hours (excluding Saturday, Sunday and/or Public Holiday) of its occurrence
- payment of Money for or in consideration of a cheque which is subsequently dishonoured
- Money being entrusted to any person other than You, Your employees, Your authorised agents, or a professional Money carrier
- war and warlike operations (general policy exclusions — referenced but full text truncated)
- nuclear (general policy exclusions — referenced but full text truncated)
| - natural disaster damage (earthquake, subterranean fire, volcanic activity, tsunami, geothermal activity, hydrothermal activity, or fire caused by any of these) — unless Optional Policy Extension Natural Disaster Cover applies
- war, invasion, act of foreign enemy, hostilities or warlike operations (whether war is declared or not), civil war, mutiny, rebellion, revolution, civil commotion assuming the proportions of or amounting to an uprising, insurrection, military or usurped power
- act of terrorism, including controlling, preventing, suppressing, retaliating against, or responding to an act of terrorism
- nuclear — ionising radiation or contamination by radioactivity from any nuclear fuel or nuclear waste from combustion or fission of nuclear fuel; nuclear weapons material
- gradually developing deformation or distortion
- marring or scratching
- gradual deterioration
- rot or mildew
- wear and tear, corrosion or rust
- action of micro-organisms, vermin or pests
- action of light, or inherent nature of the property (including shrinkage, evaporation, loss of weight, change of flavour or colour or texture or finish)
- fumes, gas, dust, smoke or soot
- maintenance of insured property including servicing, cleaning and subsequent testing
- spontaneous combustion
- spontaneous fermentation
- interruption of supply of water, gas, electricity or any fuel to the situation
- total or partial stoppage of work, or interruption or cessation of any process
- change in artificially controlled temperature or atmosphere
- loss only evidenced by unexplained disappearance
- loss only revealed by taking of an inventory
- loss due to clerical or accounting errors
- theft or attempted theft (except as covered by Automatic Policy Extensions Burglary Cover, Theft Cover, Money Cover, Stolen Keys Cover)
- fraudulent scheme or device, or false pretence
- theft, attempted theft or fraud by insured or employee (except as covered by Automatic Policy Extension Money Cover)
- exposure to weather conditions if property is not designed to be left in the open (unless reasonable precautions taken)
- landslip or subsidence (except Automatic Policy Extension Landslip and Subsidence and Optional Extension Natural Disaster Cover)
- erosion or expansion of the ground
- normal settlement, normal shrinkage or expansion of buildings, foundations, walls, pavements, roads and other structural improvements
- settling, warping or cracking caused by earth or other movements (except Optional Policy Extension Natural Disaster Cover)
- building defects — moisture/water build-up or penetration, mould, fungi, mildew, rot, decay, gradual deterioration, micro-organisms caused by non-compliance with NZ Building Code, faulty design/specification, faulty materials or faulty workmanship
- confiscation, nationalisation, requisition or destruction by order of government, public or local authority
- consequential financial loss including delays, loss of market, penalties, rates, taxes, duties, development charges, loss of use of property
- cost of repairing or replacing faulty materials or faulty workmanship or faulty design plan/specification
- cost of altering or modifying refrigeration or air conditioning plant to operate with more ozone friendly refrigerant
- machinery breakdown (except Automatic Policy Extension Electric Motors Cover, Refrigerated Goods, and Optional Policy Extension Machinery Breakdown)
- boiler or pressure vessel — cost of repairing or replacing parts suffering explosion, overheating, rupture, bursting, collapse, cracking or leaking
- loss to electronic data and software from any cause including computer virus (except Automatic Policy Extension Electronic Data and Software)
- infectious diseases — notifiable infectious disease under the Health Act 1956 or notifiable disease under the Biosecurity Act 1993
- seepage, pollution and contamination (except where resulting from sudden and accidental loss to insured property otherwise covered, or Automatic Extension Illegal Substances)
- production processes — loss to insured property while undergoing any production process where any part of that process causes or contributes to the loss
- sanctions — payment contravening UN resolutions or trade/economic sanctions of New Zealand, Australia, United Kingdom, USA or European Union
- property located outside New Zealand
- asbestos removal limited to 5% of site sum insured or $25,000 (lesser) per event
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