Page 20 - Hollard Business Policy - Binder

7. Schedule sums insured blank
If, in a Schedule of this Policy the sums insured, limit of indemnity or compensation is:
7.1 left blank or has no monetary amount stipulated against it;
7.2 reflected as nil or not applicable or not covered or no indemnity extended;
this means the Defined Event or circumstance shown in the Schedule is not insured by the Policy.
8. Security firms
If an employee of a security firm employed by the Insured under a contract causes loss or damage, the Company agrees, if in terms of the said contract the Insured may not claim against the said security firm, not to exercise their rights of recourse against the said security firm. The Company shall not raise as a defence to any valid claim submitted under any Section or Sub-Section of this Policy that the Company's rights have been prejudiced by the terms of any contract entered into between the Insured and any security provider relating to the protection of the insured property.
9. Security guard
This Provision shall apply individually to the following Sections of this Policy:
A. Fire;
B. Buildings Combined;
C. Office Contents;
D. Theft;
E. Glass;
F. Goods in Transit;
G. Business All Risks;
H. Electronic Equipment;
I. Solar Power.
The Company will compensate the Insured for the employment of guards necessary to protect the insured property following the occurrence of a Defined Event, but not exceeding R15 000 (fifteen thousand rand) per event.
10. Malicious damage
This Provision shall apply to the following Sections of this Policy:
A. Fire;
B. Buildings Combined;
C. Office Contents;
D. Solar Power.
The Company shall pay for damage directly occasioned by or through or in consequence of the deliberate or willful or wanton act of any person committed with the intention of causing such damage to the property insured and stated in the Schedule;
PROVIDED THAT:
this Provision does not cover:
1. damage related to or caused by fire or explosion;
2. loss of or damage to property for which indemnity is available in terms of the Theft Section of the Policy;
3. consequential loss or damage or indirect loss or damage of any kind or description whatsoever, other than loss of rent if specifically insured;
4. damage resulting from total or partial cessation of work or the retarding or interruption or cessation of any process or operation;
General Exceptions, Conditions and Provisions
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Hollard Business Policy – Binder – Version 8 2024