Page 76 - Hollard Business Branch Policy Wording
P. 76
Fidelity Guarantee
3. First amount payable for losses discovered more than 12 (twelve) months a er they were commi ed
If any de ned event is discovered more than 12 (twelve) months a er:
3.1 it was commi ed;
3.2 the rst event in a series of events is commi ed by one person or a number of persons ac ng in collusion the amounts contained in the rst amount payable clause are increased as follows:
3.2.1 If losses are discovered more than 12 (twelve) months a er being commi ed but not more than 24 (twenty four) months therea er, the rst amount payable is increased by 100% (one hundred percent);
3.2.2 If the policy has been extended to cover that part of losses discovered more than 24 (twenty four) months a er being commi ed but not more than 36 (thirty six) months therea er, the rst amount payable is increased by 150% (one hundred and y percent).
Notwithstanding the above, the Insured may opt to claim only for that part of the loss which was discovered in a lesser period, in which case the rst amount payable applicable for the corresponding lesser period will apply.
Hollard Business Policy – Branch – Version 1 2018 Page | 75
