Page 24 - Personal Underwriting Mandates & Guidelines - Binder Addendums - Version 3

4 Personal Underwriting Mandates & Guidelines – Binder Addendums – Version 3
Addendum B: Binder Risk Acceptance & Underwriting Limits (including decline-type risks)
Binder Underwriting Acceptance Limits
Binder
underwriting
manager
Hollard
regional
underwriting
manager
Buildings
Heritage homes; mobile homes; prefabricated buildings or structures; unoccupied
buildings (unless the unoccupied building is a holiday home supported by a main
residence)
✓
Retaining wall cover requests ✓
Stand-alone buildings (i.e. with no contents) in excess of R1 000 000 with no security
measures in place ✓
Timber-framed homes including homes with Gypsum cladding on the inside and cement-
fibre cladding on the outside ✓
Decline-type risks
○ Any properties that fall under a Body Corporate or Sectional Title.
Household contents
Household contents in excess of R50 000 kept in storage ✓
Household contents kept in a boarding house, residential hotel or similar living arrangement ✓
Jewellery in excess of R500 000 per risk address ✓
Assets out or unspecified/specified all risks
Unspecified All Risks:
○ Unspecified sum insured exceeds 30% of the Household contents sum insured ✓
Specified All Risks:
○ Rare books, medals, unset precious stones, individual stamps or coins (including
Kruger coins) over R100 000 per item or accumulation per risk address ✓
Coin and stamp collections:
○ In excess of R100 000 per collection ✓
Jewellery limits:
○ Jewellery in excess of R500 000 per item/unspecified total ✓
○ Jewellery in excess of RAL ✓
○ Previously approved jewellery referrals where the value or number of items have
increased ✓
Thatch/Non-standard construction
All risks above the RAL (Buildings; Household contents; All Risks; extensions – i.e. rent/
alternate accommodation.) Thatch/non-standard construction questionnaire required ✓
New risks that do not comply with non-standard construction requirements, e.g. no
surge/lightning protection or chimneys that are too short ✓
Motor
All risks over the Risk Acceptance Limits (RAL) ✓
Cross border cover:
○ In any other country not listed in the territorial limits noted in the policy wording ✓
○ Travel exceeding 30 continuous days or a total of 90 days during a 12-month period ✓