Page 18 - Sectional Title Policy Wording

27.6 closed circuit cameras and monitors;
27.7 or any accessory or attachment relating thereto;
being the subject of a claim as insured for which there is no immediate replacement; or for which the agency or supplier in South Africa has discontinued the importation of such equipment; and provided that such equipment is not repairable, then such equipment will be considered obsolete.
In the event of the equipment being considered or declared obsolete, then at the option of the Company the basis of the indemnity will be cash-in-lieu and will be the original purchase or replacement costs thereof less a rate of depreciation based on an accumulative rate of 15% (fifteen percent) per annum, as from the date of purchase or installation, excluding labour and installation costs.
28. Dye-lots, patterns and textures clause
In the event of any property (or portion of such property) being the subject of an insurance claim; and being supplied or manufactured in specific dye-lots, colours, patterns or textures; and at the time of such claim the property (or portion of such property) being the subject of the claim is not available (in whole or in part) in such dye-lots, colours, patterns or textures, then Hollard will only indemnify You for the loss of the same as such is available to the nearest dye-lot, colour or texture as may be available in the required quantity.
29. Changes in Premiums and Conditions
The Company reserves the right to change or increase premiums from time to time or to amend the Terms, Conditions and Exclusions of cover in respect of the Policy subject to 31 (thirty one) days’ notice in writing.
30. Average
This Condition shall apply to the following Sections of this Policy:
A. Buildings but not applicable to accidental damage to sanitary ware;
B. Business Interruption;
C. Office Contents but not applicable to accidental damage to sanitary-ware;
D. Electronic Equipment
If the property insured is, at the commencement of any damage to such property by any peril insured against, collectively of greater value than the sum insured thereon, then the Insured shall be considered as being their own insurer for the difference and shall bear a rateable share of the loss accordingly. Every item, if more than one, shall be separately subject to this Condition.
31. Medical expenses benefit
The medical benefit included in any Section of this Policy does not provide the benefits of a medical scheme and is not a substitute for a medical scheme membership.
GENERAL PROVISIONS
1. Claims preparation costs
The insurance by each Section of this Policy is extended to include costs reasonably incurred by the Insured in producing and certifying any particulars or details required by the Company in terms of General Condition 8 Claims or to substantiate the amount of any claim;
PROVIDED THAT:
the liability of the Company for such costs shall not exceed R250 000 (two hundred and fifty thousand rand) for each and every occurrence and in the annual aggregate applicable to all Sections cumulatively claimed under.
Additional cover may be purchased per Section in which case the limit stated in the Schedule will be over and above the automatic cover provided under this Provision.
2. Payments on account
In respect of any section where amounts recoverable from Hollard are delayed pending finalisation of any claim, payments on account may be made to You, if required, at the discretion of Hollard.
General Exceptions, Conditions and Provisions
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