Page 112 - Sectional Title Policy Wording

SPECIFIC CONDITIONS Burglar bars and security gates
It is a condition precedent to acceptance of liability in terms of this section, that all external doors are fitted with security gates, and the opening portion of any external window must be protected by means of burglar bars unless specifically stated otherwise in the Schedule.
Burglar alarm warranty
It is a condition precedent to the liability of the Company that if a burglar alarm is installed at the insured premises, the following conditions apply:
1. the burglar alarm installed in the premises shall be fully activated whenever the premises is/are not open for normal business unless any principal, partner, director or employee is in the premises;
2. the insurance shall not cover loss of or damage to property following the use of keys, the keypad code or remote control of the burglar alarm or any duplicate thereof belonging to the Insured unless such keys, keypad code or remote control were obtained by theft.
Unless specifically stated to the contrary, all premises shall be protected by such alarm and it is further warranted that:
1. the contract for any burglar alarm services shall include services of a 24-hour armed response unit;
2. the control panel shall have an event log and the arming and disarming of the alarm shall be logged and after the occurrence of a claim the Company will be entitled to request full information of the relevant log;
3. such alarm will be maintained in proper working order but the Insured shall be deemed to have discharged their liability if they have maintained their obligations under a maintenance contract with the installation/service company of the alarm system;
PROVIDED THAT:
cover will continue to be applicable whilst the alarm system is not operative due to a failure of the public supply of electricity at the terminal ends of the supply authority's service feeders and that such failure is not due to any act or omission of the Insured.
Reinstatement
Notwithstanding anything to the contrary contained in this Sub-Section, it is hereby declared and agreed that, in the event of any interruption, following loss or damage, being aggravated by:
1. You being unable or unwilling to replace or reinstate property destroyed or damaged, or failing to carry out such replacement or reinstatement within a reasonable time; or
2. addition, alteration or improvements being effected to the property insured on the occasion of its repair; PROVIDED THAT:
Hollard's liability under this Section shall be related solely to the business interruption which would have arisen in the absence of 1. and 2. above
MEMORANDA
Capital additions and currency fluctuations
The indemnity by this Section shall include:
1. additional equipment or programs purchased by You of a similar nature to that specified in the Schedule;
PROVIDED THAT:
in respect of loss or damage due to electrical, mechanical, or electronic breakdown or explosion, the insurance shall only commence after satisfactory completion of installation or commissioning/testing and put into use at Your premises;
2. provision for devaluation or revaluation of the currency of the Republic of South Africa against that of the country of origin of the property insured and other inflationary trends, which may result in the escalation of the sum insured (representing the installed new replacement value) of the property insured;
Electronic Equipment
Page | 110 Sectional Title Insurance Policy Wording – Version 4 2023