Page 320 - Agriculture Policy Wording Binder

DEFINED EVENTS
EXTENDED PERSONAL LIABILITY
Damages for which the insured in his/her private capacity shall become legally liable to pay consequent upon accidental death of or bodily injury to or illness of any person (hereinafter termed injury) or accidental loss of or physical damage to tangible property (hereinafter termed damage) occurring during the period of insurance in, anywhere in the world, but not in respect of any judgement, award, payment or settlement made within countries which operate under the laws of the United States of America or Canada (or to any order made anywhere in the world to enforce such judgement, award, payment or settlement either in whole or in part) during the Period of Insurance to the extent that:
1. such liability is not indemnifiable in terms of the Defined Events and/or General Conditions or Provisions of this Underlying Insurance;
or
2. such liability is not indemnifiable by reason of an Exclusion in this Underlying Insurance;
or
3. the amount of such liability exceeds the Limit of this Underlying Insurance and the Company has paid or has admitted liability or has been held liable to pay the full amount of such Limit, which for purposes of this Policy is deemed to be a minimum of R500 000 (five hundred thousand rand) but R1 000 000 (one million rand) in respect of Motor Liability and/or Watercraft Liability;
PROVIDED THAT:
the Company with not be liable to pay more than the limit of indemnity stated in the Schedule less the first amount payable for which the Insured shall be liable to pay, subject to all the Terms, Exceptions, Conditions and Endorsements of this Policy.
DEFINITIONS
For the purposes of determining the indemnity granted by this Section the following terms shall mean:
1. Underlying insurance
“Underlying insurance“ means an existing insurance policy in force with: 1. The Company which covers one or more of the following:
1.1 Personal liability;
1.2 Property owner’s liability;
1.3 Tenant’s liability;
1.4 Motor liability;
1.5 Watercraft liability.
in respect of any motor vehicle hired, leased or owned by the Insured or any watercraft or property owned by the Insured, outside the Republic of South Africa, Namibia or Botswana.
2. Limit of indemnity
the total liability of the Company for all amounts payable in accordance with the Defined Events, and will not exceed the amount stated in the Schedule.
If an event gives rise to a claim or a series of claims which form the subject of an indemnity under more than one operative section of this Section of the Policy, the total amount of the Company’s liability will at all times be limited to the greatest limit of indemnity available under any one of the operative sections in this Section of the Policy affording indemnity for the claim or series of claims.
Extended Personal Liability
Page | 318 Policy Wording – Agriculture – Binder – Version 2 2023