A provision that some or all of the benefits under a policy will be increased by a stated multiple, such as 100% or 200%, in the event that a peril occurs in a specified way, e.g., double indemnity on Life Insurance for accidental death.
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An extension of cover available under contractors all risks policies. Whilst the extension provides cover for loss or damage arising from faulty design, it does not cover the expense of repairing, modifying, replacing or renewing the part with the faulty design, nor any cost or expense incurred by betterment or alteration in design.