Page 8 - Hollard Business Branch Policy Wording

General Excep ons, Condi ons and Provisions
GENERAL CONDITIONS
Subject to the provisions of Sec on 55 of the Short-term Insurance Act No. 53 of 1998 (as amended).
1. Other insurance
If, at the me of any event giving rise to a claim under this Policy, an insurance exists with any other insurers covering the Insured against the de ned events, the Company shall be liable to make good only a rateable propor on of the amount payable by or to the Insured in respect of such event. If any such other insurance is subject to any condi on of average, this Policy, if not already subject to any condi on of average, shall be subject to average in like manner.
2. Cancella on
2.1 No ce
This Policy, Policy Sec on or item may be cancelled at any me by:
2.1.1 the Company giving 30 (thirty) days' no ce in wri ng (or such other period as may be mutually agreed); or
2.1.2 the Insured giving immediate no ce.
2.2 Pro-rata premiums
On cancella on by the Insured, the Company shall be en tled to retain the customary short period or minimum premium for the period the Policy, Policy Sec on or item has been in force. On cancella on by the Company, the Insured shall be en tled to claim a pro-rata propor on of the premium for the remainder of the period of insurance from the date of cancella on, subject to General Condi on 3.
2.3 Premium refund
The Company will not refund the Insured upon cancella on of the Policy, Policy Sec on or item for the remainder of the period of insurance up to renewal if the maximum amount stated in the Schedule for such property or Sec on is se led in terms of a claim.
This General Condi on shall apply whether the Insured gave instruc on for cancella on or the Company, for whatever reason.
3. Premium payment
3.1 Where the premium is paid quarterly, bi-annually or annually
The premium is due and payable on or before the incep on date or renewal date as the case may be, but must be paid within 30 (thirty) days. The Company shall not be obliged to accept premium tendered to it more than 30 (thirty) days a er the incep on date or renewal date as the case may be, but may do so upon such terms as it, at its sole discre on, may determine.
3.2 Where the premium is paid monthly
The premium is due and payable on or before the incep on date or the rst day of each month therea er as the case may be. If the premium has not been paid for any reason other than the Insured having stopped payment, the Company will re-debit in the following month for two months' premium. If the full double premium has not been paid, the policy will be canceled from the date of the rst unpaid premium.
If all premiums have not been paid, any claims made will not be se led under this policy.
4. Adjustment of premium
If the premium for any Sec on of this Policy has been calculated on any es mated gures, the Insured shall, a er the expiry of each period of insurance, furnish the Company with such par culars and informa on as the Company may require for the purpose of recalcula on of the premium for such period. Any di erence shall be paid by or to the Insured as the case may be.
Hollard Business Policy – Branch – Version 1 2018 Page | 7