Page 23 - Hollard Business Policy - Binder

General Exceptions, Conditions and Provisions
Section
Reference
Amendment
General Fire
Business Interruption Accounts Receivable
Adjustment of Premium
Specific Condition 1.2 in Stock Declaration Conditions
Deposit Premium Clause Adjustment Clause
The words "each period of insurance" are amended to read "each period of twelve consecutive months from the inception date or anniversary date"
Fire
Buildings Combined Office Contents
Capital Additions Clause Capital Additions Clause Capital Additions Clause
If the period of insurance is more often than quarterly then the words "each quarter" are amended to read "each month"
Fidelity Guarantee
Defined Event
In addition to the Defined Events the following is added:
The amount payable during any one period of
12 (twelve) consecutive months from inception or anniversary date will not exceed the sum insured stated in the Schedule at the said inception or anniversary date as the case may be (or double the sum insured if the "Reduction/Reinstatement of sum insured" Extension applies).
If the sum insured is increased the 12 (twelve) consecutive months applies from the anniversary date.
Any reinstatement between the date of increase and the anniversary date will not exceed twice the sum insured.
Fidelity Guarantee
Reduction/Reinstatement of sum insured Extension
The words "annual premium" are amended to read "12 (twelve) times the monthly premium" for policies with monthly periods of insurance and "4 (four) times the quarterly premium" or "2 (two) times the bi- annual premium" for policies with quarterly or half- yearly periods of insurance respectively.
15. Locks and keys
This Provision shall apply to the following Sections of this Policy:
A. Buildings Combined;
B. Office Contents;
C. Theft;
D. Money.
In addition to any payment in respect of a Defined Event, the Company will indemnify the Insured in respect of the cost of replacing locks and keys following upon the disappearance of any key or following upon the Insured having reason to believe that any unauthorised person may be in possession of such key or a duplicate of such key of:
15.1 any receptacle; or
15.2 the business premises;
PROVIDED THAT:
1. the premises is stated in the Schedule;
2. the liability of the Company shall not exceed R15 000 (fifteen thousand rand) in terms of A., B., C. or D. or R30 000 (thirty thousand rand) in the aggregate any one event;
3. the Insured shall be responsible for the first R500 (five hundred rand) each and every claim.
Additional cover may be purchased under the Money Section only, in which case the limit stated in the Schedule will be over and above the automatic cover provided.
Hollard Business Policy – Binder – Version 8 2024 Page | 21