Damage
Policy (S69)
A contract
of insurance providing in the event of the subdivided building
for:
• Destroyed
or damaged by fire, lightning, explosion or any other occurrence
• Rebuilding/replacement
of the subdivided building
• Repair/restoration
of the damaged portion
• Expense
incurred on removal of debris and remuneration of architects
and any other person
Workmen’s Compensation
Policy (S 71 (1a))
Covers workers
employed by the Management Corporation e.g. gardener,
cleaners and tradesmen
Public
Liability Policy (S 71 (1b))
Covers against
damage to property, death or body injury occurred on common property
Subsidiary
Proprietor Insurance (S 71 (1c))
Covers against
possibility of subsidiary proprietor becoming jointly liable
by means
of a claim arising in respect of any other occurrence against which
the Management Corporation pursuant to a Special
Resolution, decides to insure
Errors
and Ommission Insurance (S 71 (7))
Where an insurer
of a Management corporation admits a claim by the Management
Corporation based on an act or omission by a Subsidiary Proprietor
who is a member of the Management Corporation, the insurer shall
not have a right of subrogation in relation to the Subsidiary
Proprietor based on that act or omission unless it was proved
that the act or omission is willful.
Updated
January 2006
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