Page 79 - Sectional Title Policy Wording

Public Liability (Claims-made Basis)
PROVIDED ALWAYS THAT:
the Insured shall at all times take every possible precaution to prevent the sale or supply of any condition or free from contamination or for human consumption.
Trustees and Directors Liability
The amount payable under this Extension for any wrongful act by any Trustee(s) or Director(s), inclusive of any legal costs recoverable from You by a claimant or any number of claimants, and all other costs and expenses incurred with Hollard’s consent, for any one event or series of events with one original cause or source or during any one (annual) period of insurance, will not exceed in the aggregate the limit of indemnity for this Extension stated in the Schedule.
For the purpose of this cover, a wrongful act shall be any actual or alleged breach of trust, breach of duty, neglect, error, misstatement, misleading statement, omission or other act wrongfully committed or attempted by a trustee which arises solely by reason of acting in a capacity as trustee of a body corporate.
PROVIDED THAT:
Notwithstanding anything to the contrary contained within the Policy, Hollard will not indemnify You under this Extension in respect of:
1. Any liability for the payment of VAT
2. Any remuneration or other monies to which the Body Corporate or Trustee(s) is/are legally entitled
3. Any indemnity claimed or claimable in terms of any other insurance
4. Any Trustee committing any wrongful act knowing such actions to be illegal, fraudulent or of malicious intent.
5. The first amount payable stated in the schedule.
SPECIFIC CONDITIONS
To the extent of any inconsistency between the General Conditions of this Policy and the Specific Conditions appearing below, the Specific Conditions will take precedent in respect of this Section of the Policy.
1. Observance of terms
You will abide by and fulfil all Terms, Conditions and Endorsements of this Policy in so far as they relate to anything to be done or complied with by You. The truth of the statements, answers and information supplied in connection with this Policy will be a condition precedent to any liability of Hollard to indemnify You.
2. Claims co-operation
It will be a condition precedent to liability that in respect of any circumstance notified to Hollard or any claim itself, You will:
2.1 provide Hollard with such particulars and information as Hollard may require, immediately on request;
2.2 forward to Hollard any communication, court process or documentation, or any other documents received relating to such circumstance or claim immediately on receipt;
2.3 give Hollard all information and assistance required as soon as practicable, and, where Hollard has conduct of proceedings, within such time limits as are specified by Hollard’s legal representatives;
2.4 make no admission of liability, payment, offer or promise of payment, or agree to compromise or indemnify or waive any right of subrogation or recovery, without the express prior written consent of Hollard.
3. Claims control
Hollard will be entitled, at its own discretion, to take over and conduct in Your name the defence or settlement of any claim, and prosecute at its own expense, and for its own benefit, any claims for indemnity or damages against any other persons.
4. Deductible
The first amount payable will be subject to the following provisions:
4.1 where Hollard has incurred expenditure in the defence and/or settlement of any claim the first amount payable will be payable in whole or in part:
4.1.1 at any stage when in respect of a claim sums have been paid in respect of damages, claimant’s expenses and/or defence costs and loss adjusting expenses; or
Sectional Title Insurance Policy Wording – Version 4 2023 Page | 77