Page 196 - Hollard Business Branch Policy Wording

Electronic Equipment
PROVIDED THAT:
the amount payable in respect of such fees does not exceed 20% (twenty percent) of the total amount of the claim, but shall not include expenses incurred in connec on with the prepara on of the Insured's claim.
2. Clearance costs
Costs necessarily and reasonably incurred by the Insured in respect of demoli on or dismantling of property and/ or removal of debris and in providing, erec ng and maintaining hoardings and other similar structures required during demoli on, dismantling, debris removal and reconstruc on following indemni able loss of or damage to such;
PROVIDED THAT:
the total amount recoverable does not exceed 20% (twenty percent) of the total amount of the claim.
3. Express delivery and over me
Extra charges for express delivery, airfreight, over me, Sunday and holiday rates of wages payable in respect of the necessary and reasonable addi onal costs incurred by the Insured for e ec ng repairs or replacement approved by the Company, limited to 50% ( y percent) of the amount which the repair or replacement would have cost had these addi onal costs not been incurred.
CLAUSES AND EXTENSIONS (applicable to Sub-Sec on A) Tenants
This insurance will not be invalidated by any act or neglect on the part of a tenant of the Insured (where the Insured owns the building) or another tenant or the owner of the building (where the Insured is a tenant);
PROVIDED THAT:
the Insured no es the Company as soon as such act or neglect comes to their knowledge and pay on demand the appropriate addi onal premium.
Hire purchase/ nance agreements
Where the Company has knowledge of the property insured, or any individual item thereof, being subject to a suspensive sale or similar agreement, payment hereunder shall be made to the owner described therein whose receipt shall be in full and nal discharge to the Company in respect of loss or damage indemni able by this Sub-Sec on of the Policy.
So ware upgrade
If the Company has accepted liability in terms of a claim, the Company will pay in addi on to any other amount the reasonable cost to reinstate or upgrade the so ware installed on the system which is lost or damaged;
PROVIDED THAT:
1. the cost towards the replacement or upgrade of the so ware shall not exceed 20% (twenty percent) of the value of the insured equipment or R5 000 ( ve thousand Rand), whichever is the lesser;
2. the Insured shall be responsible for the rst R750 (seven hundred and y Rand) for each and every upgrade or replacement;
3. this Extension shall apply to each item separately and individually.
Hollard Business Policy – Branch – Version 1 2018 Page | 195