Page 15 - Hollard Business Branch Policy Wording

General Excep ons, Condi ons and Provisions
27. Territorial extension/sum insured limita on
Subject otherwise to the Terms, Condi ons, Exclusions, Excep ons and Warran es of the Policy the maximum liability or loss in respect of any claim under Policy Sec ons:
A. Fire;
B. Buildings Combined;
C. O ce Contents;
D. Business Interrup on; or
E. Accidental Damage;
is limited to 10% (ten percent) of the sum insured in respect of the Sec on or the amount stated in the Schedule for incidental risks situated outside the territorial scope.
28. Obsolescence in the event of loss of or damage to:
28.1 electronic motors;
28.2 telephonic communica on equipment;
28.3 security control equipment (inclusive of cameras);
28.4 alarm and detec on systems;
28.5 TV aerials including television transmission or recep on equipment;
28.6 closed circuit cameras and monitors;
28.7 or any accessory or a achment rela ng thereto;
being the subject of a claim as insured for which there is no immediate replacement, or for which the agency or supplier in South Africa has discon nued the importa on of such equipment, and provided that such equipment is not repairable, then such equipment will be considered obsolete.
In the event of the equipment being considered or declared obsolete, then at the op on of the Company the basis of the indemnity will be cash-in-lieu and will be the original purchase or replacement costs thereof less a rate of deprecia on based on an accumula ve rate of 15% ( een percent) per annum, as from the date of purchase or installa on, excluding labour and installa on costs.
29. Dye-lots, pa erns and textures
Loss of or damage to any property (or por on of such property) being supplied or manufactured in speci c dye- lots, colours, pa erns or textures which is not available (in whole or in part) in such dye-lots, colours, pa erns or textures, the Company will indemnify the Insured for the loss of the same as such is available to the nearest dye- lot, colour or texture as may be available in the required quan ty.
30. Changes in Premiums and Condi ons
The Company reserves the right to change or increase premiums from me to me or to amend the Terms, Condi ons and Exclusions of cover in respect of the Policy subject to 30 (thirty) days’ no ce in wri ng.
31. Average
This Condi on shall apply to the following Sec ons of this Policy:
A. Fire;
B. Business Interrup on;
C. Buildings Combined but not applicable to accidental damage to sanitary-ware;
D. O ce Contents but not applicable to accidental damage to sanitary-ware;
E. Glass;
F. Electronic Equipment.
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Hollard Business Policy – Branch – Version 1 2018