Page 21 - Personal Underwriting Mandates & Guidelines - Binder Addendums - Version 3

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Personal Underwriting Mandates & Guidelines – Binder Addendums – Version 3
Addendum B: Binder Risk Acceptance & Underwriting Limits (including decline-type risks)
RISK ACCEPTANCE LIMITS
Personal Lines
Classes VAT exclusive
Standard Construction (including extensions, i.e. rent/alternate accommodation)
Accumulation limits for Buildings, Household contents
and All Risks combined
R30 000 000 per risk address
Buildings R20 000 000 per risk address
Household contents R10 000 000 per risk address
1 Fine Arts (included under Fine Arts section) Cover must be placed ground-up with iTOO Artinsure
All Risks specified and unspecified R2 500 000 per risk address and maximum of R1 000 000
per single item
Thatch/Non-standard (including extensions, i.e. rent/alternate accommodation)
Accumulation limits for Buildings, Household contents
and All Risks combined
R8 000 000 per risk address
Personal accident
Personal accident R2 000 000 any 1 life per event
(Accumulation of death, PTD, TTD and medical benefit) R7 500 000 accumulation per event
Motor
Individual vehicles Individual limit
Accumulation limit
and/or R20 000 000
per risk address
Motor vehicles (including Vintage vehicles) R2 500 000
Motorcycles/non-road vehicles/caravans/trailers R750 000
Pleasure-craft R2 500 000 per craft
2 Liability
Umbrella liability Up to R20 000 000 per event/in the annual aggregate to
be placed with iTOO
Notes – 1 Applies to Hollard Prestige Portfolio or equivalent high net worth product.
2 Liability cover for the Hollard Private and Prestige Portfolios or equivalent products cannot exceed the limits noted in
the excess and limit pages.
Any mid-term adjustments or cancellation of risks over the risk acceptance limits must be referred within 30 days of the effective
date. These risks must be referred at each renewal to ensure that reinsurance terms are agreed and renewed, where applicable.