Page 73 - Hollard Business Branch Policy Wording

Fidelity Guarantee
2. If the Insured shall sustain any loss to which this Sec on applies which exceeds the amount payable hereunder in respect of such loss, the Insured shall be en tled to all recoveries (except from suretyship, insurance, reinsurance, security or indemnity taken or e ected by the Company or for the amount of any rst amount payable) by whomsoever made on account of such loss un l fully reimbursed, less the actual cost of e ec ng the same, and any remainder shall be applied to the reimbursement of the Company and the Insured to the extent of his/her co-insurance in terms of the Compulsory First Amount Payable clause and/or Schedule.
CLAUSES AND EXTENSIONS Accountants
Any par culars or details contained in the Insured's books of account or other business books or documents which may be required by the Company under this Sec on for the purpose of inves ga ng or verifying any claim hereunder may be produced and cer ed by the Insured's auditors or professional accountants and their cer cate shall be prima facie evidence of the par culars and details to which it relates.
Extended cover for past employees
Any person who ceases to be an employee shall, for the purpose of this Sec on, be considered as being an employee for a period of 30 (thirty) days a er he in fact ceased to be an employee.
Other insurances
It is a condi on of this Sec on that other than:
1. a money policy;
2. that declared to the Company at incep on or renewal or me a claim is submi ed;
3. a delity pension fund policy which is not in excess of this Sec on;
4. this Policy;
no other insurance is in force during the currency of this Sec on to insure against the risks insured hereunder.
OPTIONAL CLAUSES AND EXTENSIONS (if stated in the Schedule to be included) Extor on
The De ned Events shall include loss due to the taking by extor on from the Insured of money and/or other property by inten onally and unlawfully subjec ng the Insured or any director, member, partner, trustee or employee of the Insured or a rela ve or any such person to any threat of physical harm which includes such person to submit to the taking;
PROVIDED THAT:
the person threatened has made every reasonable a empt to report the threat to an associate and to the law enforcement authori es at the earliest reasonable opportunity;
PROVIDED FURTHER THAT:
this Extension shall not en tle the Insured to indemnity in respect of any loss which is insured or which would be insurable in terms of a The , Money, Motor or Marine/Transit insurance Policy or any other more speci c insurance covering money or goods.
Retroac ve cover – no previous insurance in force
This Sec on will also apply to de ned events as insured herein which occurred up to 12 (twelve) months prior to incep on of this Sec on but not more than 24 (twenty four) months prior to discovery, provided the events are discovered within the sooner of 12 (twelve) months of the termina on of employment of the employee concerned or within 12 (twelve) months of the expiry of this Sec on.
Superseded insurance
This Sec on will apply to De ned Events insured herein which occurred during the currency of any insurance superseded by this Sec on and speci ed in the Schedule;
Page | 72 Hollard Business Policy – Branch – Version 1 2018