Page 16 - Sectional Title Policy Wording

14.3 You consent to such information being processed and stored in a shared database and used as set out above.
14.4 You also consent to such information being disclosed to any insurer or its agent.
14.5 You further consent to any underwriting information being verified against legally recognised sources or databases.
14.6 You agree that this consent clause will survive the termination for whatever reason of the Policy, including its cancellation or lapsing.
15. Interest on payments
No interest will be payable on any amount due by Hollard in terms of this Policy unless a Court of Law orders otherwise.
16. Law and legal jurisdiction
Any dispute between You and Hollard in connection with or arising out of the Policy will be decided exclusively in accordance with the law of the Republic of South Africa and exclusively by a competent court of South Africa.
You undertake that You will not institute any action against Hollard nor bring joinder proceedings against Hollard in the Court of any country other than the Republic of South Africa.
17. Change of interest/disclosure/non-disclosure/misrepresentation/misdescription
17.1 Before the Insured enters into a contract of insurance with an insurer, the Insured has a duty to disclose to the insurer every matter known, or that the reasonable person in a similar position could reasonably be expected to know, that is relevant to the insurer's decision whether to accept the risk of the insurance and, if so, on what terms.
17.2 The Insured has the same duty to disclose those matters to the Company before the Policy is renewed, extended, amended or reinstated.
17.3 Failure to comply with the duty of disclosure, the Company may be entitled to reduce its liability under the Policy in respect of a claim or may void the Policy from the date of the material change of risk or nondisclosure.
17.4 Further, the cover provided by this Policy shall be void with respect to any item insured:
17.4.1 to which any alteration after the commencement of this insurance takes place;
17.4.2 whereby the Insured's interest ceases except by will or operation of law; unless notice has been given to the Company in writing as soon as practicable after such alteration and an additional premium paid if required.
17.5 Misrepresentation or misdescription in any material particular shall render voidable the particular item, Section or Sub-Section of the Policy, as the case may be, affected by such misrepresentation or misdescription.
18. Alterations to the business
18.1 The Insured must immediately advise the Company in writing of any changes to the business that may increase the risk or result in an increased chance of destruction, loss or damage to property insured or liability to third parties.
18.2 The definition of change referred to in 18.1 shall include but not be limited to:
18.2.1 changes in the name of the Insured or directors or partners;
18.2.2 changes to the address or location of the business;
18.2.3 changes in the nature of the business activities, trade or occupation;
18.2.4 alterations in construction of the premises;
18.2.5 new business products not previously disclosed to the Company;
18.2.6 change of tenants if the insured property is leased out;
18.2.7 additional premises occupied.
18.3 The Company may at its own discretion:
18.3.1 adjust the premium or terms of the Policy;
18.3.2 require additional Terms, Conditions or Provisions;
18.3.3 cancel the Policy in accordance with the General Condition 3 of the Policy.
General Exceptions, Conditions and Provisions
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Sectional Title Insurance Policy Wording – Version 4 2023