Page 149 - Hollard Business Branch Policy Wording

Motor
OPTIONAL CLAUSES AND EXTENSIONS (if stated in the Schedule to be included) Con ngent liability
The indemnity under Sub-Sec on B includes claims made against:
1. the Insured in the event of an accident arising in the course of the business and caused by or through or in connec on with any motor vehicle not the property of or provided by the Insured, while being used by any partner or director or employee of the Insured (hereina er in this Extension referred to as 'such person');
2. any such person in the event of an accident arising in the course of the business and caused by or through or in connec on with any motor vehicle not belonging to such person or to the Insured or leased or hired by either of them, but only in so far as such person has not been refused any motor insurance or con nuance thereof by any insurer;
PROVIDED THAT:
2.1 Excep on 2 under Sub-sec on B is deleted;
2.2 the Company shall not be liable for loss of or damage to any motor vehicle being used for the purposes and in the manner described in 1. and 2. above;
2.3 the payment by the Insured of subsidies or travelling allowances to such person for the use of his own vehicle for o cial purposes of the Insured, including the carriage of persons for such purposes, is allowed without prejudice to the insurance by this Extension;
2.4 if, at the me of the occurrence of any accident giving rise to a claim under this Extension, the Insured or such person is en tled to indemnity under any other policy in respect of the same occurrence, the Company shall not be liable to make any payment hereunder except in respect of any excess beyond the amount payable under such other policy;
2.5 the Terms, Excep ons and Condi ons of the Policy shall otherwise apply;
2.6 the Company's liability shall not exceed the limit stated in the Schedule for each and every occurrence.
Credit shor all
If any total loss se lement under Sub-Sec on A is less than the amount owing to the nancier under a current installment sale or lease agreement, the Company will pay to the Insured an addi onal amount equal to the shor all less:
1. any arrears installments or rentals including interest payable on such arrears;
2. all refunds of premium for cancella on of any insurance cover rela ng to the motor vehicle;
3. the increased installments or rentals that would have been paid had there been no residual capital value at the end of the nance period, calculated to the month in which the claim is se led;
4. the rst amount payable under Sub-Sec on A;
PROVIDED THAT:
1. the amounts payable shall not exceed the maximum indemnity less the rst amount payable under Sub-Sec on A;
2. this endorsement shall not apply to an agreement whereby the amount of any single installment other than the nal residual amount a er the ini al payment di ers by more than 10% (ten percent) from any other installment;
3. if such shor all is as a result of a re-advance under an installment sale or re nancing in terms of a lease the insurance by this Extension shall be void;
4. the amount payable under this Extension shall not exceed the amount stated in the Schedule subject to the Terms, Provisions and Condi ons of this Extension.
Waiver of basic compulsory rst amount payable (only applicable to private type motor cars and light commercial vehicles up to a GVM of 3 500kg)
The Basic Compulsory First Amount Payable as stated in the Schedule is hereby cancelled;
PROVIDED THAT:
1. this Extension applies to the Insured and his/her designated driver who is older than 25 (twenty ve) years of age and has held a valid driver's licence for more than 5 ( ve) years and which is unendorsed;
2. this Extension shall not apply to windscreen claims and if the loss or damage is as a result of the or hi-jacking of the vehicle.
Page | 148 Hollard Business Policy – Branch – Version 1 2018