Page 22 - Hollard Private Portfolio - Version 3.5

20 Hollard Private Portfolio – Version 3.5 – 7 May 2024
Understanding your policy
Consequential loss
We do not cover further loss or damage that you may suffer as a consequence of an event that is covered under this
policy. Consequential loss is not directly caused by an event covered under this policy but is an indirect consequence of
the event.
For example, if your car is in an accident on the way to the airport, we will cover you for the damaged car (if insured
under this policy). We will not pay for any loss you may suffer because you missed your flight.
Cyber incidents
We do not cover any kind of loss, damage, liability or costs which are directly caused by a cyber incident. A cyber incident
is any of the following which affects the processing, use or operation of any computer, network, back-up facility or
electronic data:
○ Programming or operating errors by any person or persons.
○ Unauthorised or malicious acts regardless of the time, place or whether it is a threat or a hoax.
○ Malware and similar mechanisms that are specifically designed to disrupt, damage or gain unauthorised access
to a computer system or electronic data, such as viruses, worms, Trojans, logic bombs, spyware, ransomware
and denial of service attacks.
○ Any unintentional failure, however minor, of any computerised system which is not directly caused by physical
loss or damage.
Defective design, workmanship and materials
We do not cover loss or damage to insured property because of defective design, defective workmanship or defective
materials, including any expenses to correct a fault in the design or construction of the insured property.
Electricity grid failure
We do not cover loss, damage, any amount of any kind, or liability that is caused (in any way) by Electricity grid failure.
○ This exclusion also applies to consequential losses in respect of any public utilities that are affected by Electricity
grid failure, including but not limited to, the disruption of water, telecommunications and sewage systems. It
also applies to other consequential losses, such as the deterioration of any food or other items.
○ This exclusion does not apply to Loadshedding which remains covered subject to the terms and conditions in
your policy.
Gradual deterioration
We do not cover loss or damage caused by gradual deterioration. We specifically do not cover loss or damage caused by
any of the following kinds of gradual deterioration:
○ Wear and tear from the ordinary day-to-day use of an item.
○ Dryness or moisture, exposure to light or extreme temperatures, except if the loss is caused by storm or fire
damage, or if you are covered under the optional Subsidence, landslip or ground heave – extended cover
benefit under the Buildings and Household contents cover sections.
○ Exposure to natural forces such as sunlight.
○ A slowly operating cause such as rust, rising damp, corrosion, decay, coastal or river erosion.
○ Any cause that was not sudden and unforeseen.
○ Lack of maintenance.
Insured property covered under a guarantee
We do not cover loss or damage to insured property that is covered by any warranty or guarantee, service contract, lease
agreement, purchase contract or any agreement of any type.
Insured property for sale
There is no cover for movable insured property while it is in the possession of anyone selling it on your behalf. This
includes leaving an item at a pawnshop, or even leaving an item unattended with a “For Sale” or similar notice.