Page 88 - Hollard Namibia – Motor & Household Policy Wording

Extended liability
Key terms to understand
Underlying Insurance
an existing insurance policy in force with:
A registered South African, Namibian, Botswana or Mozambican Insurer which covers one or more of the following:
o Personal Liability
o Property Owner's Liability
o Tenant's Liability
o Motor Liability
o Pleasure-craft Liability
Any Insurer in the world which covers one or more of the following: o Motor Liability
o Pleasure-craft Liability
o Property Owner's Liability
for any motor vehicle hired, leased or owned by You, outside the territories mentioned in 1 above.
includes yourself, your spouse, and any members of your immediate family who normally reside with you and are financially dependent on you
You
How much we pay
1.
2.
The amount we pay which is stated in the SCHEDULE includes all legal costs and expenses: o recoverable from you by or on behalf of any third party;
o incurred by you with our written consent (which we will not withhold unreasonably).
What we cover you for
We will compensate you up to the amount stated in the SCHEDULE for all sums which you become legally liable to pay as damages arising from any event occurring during the period of insurance anywhere in the world.
This indemnity will only be effective to the extent that:
o it is not covered in terms of the insuring clause and/or insurable events clause and/or operative clause of any Underlying Insurance; or
o it is not covered by reason of an exclusion in any Underlying Insurance; or
o the amount of liability for damages exceeds the limit of indemnity of the Underlying Insurance and the Underlying Insurer has paid or has admitted liability or has been held liable to pay the full amount of the limit of indemnity of the Underlying Insurance. For the purposes of this insurance the full amount of indemnity of the Underlying Insurance is deemed to be a minimum of N$2 million.
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