Page 31 - Hollard Business Branch Policy Wording

Fire
1.2 A er each period of insurance, the premium shall be calculated on the average sum insured, namely the total of the values declared or deemed to have been declared, divided by the number of declara ons due to have been made. If the resultant premium shall di er from the provisional premium, the di erence shall be payable by or to the Insured as the case may be, but the amount payable by the Company shall not exceed 50% ( y percent) of the provisional premium.
2. Any claim hereunder shall be se led on the basis of the market value immediately before the damage.
3. If, a er the occurrence of damage, it is found that the amount of the last declara on is less than the amount that ought to have been declared, then the amount which would have been recoverable by the Insured shall be reduced in such propor on as the amount of the said declara on bears to the amount that ought to have been declared or to the sum insured, whichever is the lesser amount. The provisions of this Condi on shall, if applicable, operate cumula vely with the General Condi on rela ng to Average.
4. In considera on of the insurance not being reduced by the amount of any loss, the Insured shall pay addi onal premium on the amount of the loss from the date thereof to expiry of the period of insurance and such extra premium shall not be taken into account in, and shall be dis nct from, the nal adjustment premium.
5. The liability of the Company shall not exceed the sum insured stated in the Schedule and premium shall not be receivable on values in excess thereof.
6. The above speci c condi ons shall apply separately to each item of the speci ca on to which these stock declara on condi ons apply.
Subsidence and landslip (extended cover)
1. This Sec on is extended to include loss of or damage to the insured property caused by subsidence or landslip of the land suppor ng the said insured property or heave thereof;
PROVIDED THAT:
such loss or damage is not caused by or does not arise from:
1.1 normal se lement, shrinkage or expansion of the land suppor ng insured property;
1.2 altera ons, addi ons or repairs to the insured property;
1.3 compac on or in ll;
1.4 defec ve or faulty design, materials or workmanship;
1.5 excava ons other than mining opera ons;
1.6 contrac on and or expansion of soil, clay or similar types or moist or damp;
1.7 removal or weakening of support to the insured property.
2. The Company will not be liable for:
2.1 loss of or damage to sep c or conservancy tanks, drains, water courses unless the building(s) is damaged at the same me by the same event;
2.2 consequen al loss whatsoever;
2.3 damage exis ng at commencement of cover.
3. The Insured will be responsible for the rst 5% ( ve percent) of the claim minimum R5 000 ( ve thousand Rand) of each and every occurrence giving rise to a claim.
4. If required the Insured must give proof that the loss or damage being claimed for was caused by subsidence, landslip or heave.
Riot and strike
Subject otherwise to the Terms, Condi ons, Exclusions, Excep ons and Warran es contained therein, this Sec on is extended to cover damage directly occasioned by or through or in consequence of:
1. civil commo on, labour disturbances, riot, strike or lockout;
2. the act of any lawfully established authority in controlling, preven ng, suppressing or in any other way dealing with any occurrence referred to in 1. above;
Page | 30 Hollard Business Policy – Branch – Version 1 2018