Page 97 - Hollard Private Portfolio - Version 3.5

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Hollard Private Portfolio – Version 3.5 – 7 May 2024
Cyber insurance
▪ Whichever option we decide on, we will pay back the part of the premiums received which
relates to the other insurer’s part of the claim, but only in respect of premiums received for
three years prior to the date of the claim.
– It is the other insurer’s responsibility to refund premiums you paid to them relating to our portion of
the claim, and you will have to contact the other insurer directly for a refund.
○ Help us with any legal proceedings
Your assistance may be required if we decide to start legal proceedings against any party responsible for the
loss. Note that any such legal action may be taken in your name.
○ Our responsibility ends after we have paid a claim
Once we have paid a claim, we have met our responsibilities to you under this policy. We will not be responsible
for any other costs relating to that claim.
○ We will not pay any interest
We do not pay interest on any amount due by us unless ordered to do so by a South African court of law or
agreed arbitrator.
○ If you do not agree with our claims decision
Please refer to the process explained under How to complain in the Understanding your policy section.
○ Prescription – expiry of claims
When a claim prescribes, it means that you have lost your right to claim and we will no longer be legally
responsible to pay that claim.
A claim will prescribe after 12 months from the date of the event, unless any of the following applies:
– You have referred the claim to the National Financial Ombud Scheme South Africa NPC.
– You have started legal action against us.
– The claim relates to your legal liability towards another person.