Page 107 - Hollard Business Policy - Binder

Umbrella Liability (Commercial Risk)
12.7 Motor
which is the subject of statutory or similar legislation controlling the use of motor vehicles or trailers and in respect of which liability:
12.7.1 the Insured is compelled to effect insurance or otherwise to furnish security; or
12.7.2 the State or other Governmental Authority has accepted responsibility;
12.8 Product replacement
for the costs necessary to repair, replace, recondition or modify any Product or part thereof and/or for the loss of use of any Product or part thereof;
12.9 Product recall
arising out of the recall of any Product or part thereof;
12.10 Performance guarantees
arising out of performance warranties or guarantees, or clauses stipulating liquidated damages or penalties, except to the extent that it is proved that such liability would have existed in the absence of any contractual provision;
12.11 Pure financial loss
arising out of pure economic loss where no bodily injury or physical damage had occurred;
12.12 Product inefficacy
arising out of a Product’s failure to perform as specified, warranted or guaranteed and to fulfill its intended function;
12.13 Gradually operating causes
for personal Injury caused or contributed to by prolonged exposure to substances, factors or circumstances peculiar to any particular employment or occupation. This Exclusion is applicable to Employer's Liability only;
12.14 Total asbestos exclusion
it is hereby understood and agreed that this contract shall not apply to and does not cover any actual or alleged liability whatsoever for any claim or claims in respect of loss or losses directly or indirectly arising out of, resulting from or in consequence of, or in any way involving asbestos, or any materials containing asbestos in whatever form or quantity provided that the loss or losses are caused or contributed to by the hazardous nature of asbestos;
12.15 Motor balance of third party
for Motor Balance of Third Party liability unless such liability is in excess of the Scheduled Underlying Insurance and is indemnifiable thereby;
12.16 Unfair labour practice
for any unfair labour practice including but not limited to unfair dismissal within the meaning of the Labour Relations Act No. 28 of 1956 as amended, or any Act passed in substitution therefor;
12.17 Nuclear risks
12.17.1 for loss or destruction of or damage to any property whatsoever or any loss or expense whatsoever resulting or arising therefrom;
12.17.2 any consequential loss of whatsoever nature;
directly or indirectly caused by or contributed to by or arising from ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
For the purposes of the Exclusion only combustion shall include any self-sustaining process of nuclear fission.
Hollard Business Policy – Binder – Version 8 2024 Page | 105