Page 13 - Hollard Business Branch Policy Wording

General Excep ons, Condi ons and Provisions
15. Interest on payments
No interest will be payable on any amount due by the Company in terms of this Policy unless a Court of Law orders otherwise.
16. Law and jurisdic on
Any dispute between the Insured and the insurers in connec on with or arising out of the Policy shall be decided exclusively in accordance with the law of the Republic of South Africa and exclusively by a competent court of South Africa.
The Insured undertakes that they will not ins tute any ac on against the insurers nor bring joinder proceedings against the insurers in the court of any country other than the Republic of South Africa.
17. Change of interest/disclosure/non-disclosure
17.1 Before the Insured enters into a contract of insurance with an insurer, the Insured has a duty to disclose to the insurer every ma er known, or that the reasonable person in a similar posi on could reasonably be expected to know, that is relevant to the insurer's decision whether to accept the risk of the insurance and, if so, on what terms.
17.2 The Insured has the same duty to disclose those ma ers to the Company before the Policy is renewed, extended, amended or reinstated.
17.3 Failure to comply with the duty of disclosure, the Company may be en tled to reduce its liability under the Policy in respect of a claim or may void the Policy from the date of the material change of risk or non- disclosure.
17.4 Further, the cover provided by this Policy shall be void with respect to any item insured:
17.4.1 to which any altera on a er the commencement of this insurance takes place;
17.4.2 whereby the Insured's interest ceases except by will or opera on of law;
unless no ce has been given to the Company in wri ng as soon as prac cable a er such altera on and an addi onal premium paid if required.
18. Altera ons to the business
18.1 The Insured must immediately advise the Company in wri ng of any changes to the business that may increase the risk or result in an increased chance of destruc on, loss or damage to property insured or liability to third par es.
18.2 The de ni on of change referred to in 18.1 shall include but not be limited to:
18.2.1 changes in the name of the Insured or directors or partners;
18.2.2 changes to the address or loca on of the business;
18.2.3 changes in the nature of the business ac vi es, trade or occupa on;
18.2.4 altera ons in construc on of the premises;
18.2.5 new business products not previously disclosed to the Company;
18.2.6 change of tenants if you are leasing out property;
18.2.7 addi onal premises occupied.
18.3 The Company may at its own discre on:
18.3.1 adjust the premium or terms of the Policy;
18.3.2 require addi onal Terms, Condi ons or Provisions;
18.3.3 cancel the Policy in accordance with General Condi on 2 of the Policy.
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Hollard Business Policy – Branch – Version 1 2018