Page 24 - Hollard Business Policy - Binder

16. Property under construction or alteration
Damage to property insured by this Policy in the course of erection and/or completion and/or alteration, and including any loss following interruption or interference with the business in consequence of such damage, until final completion of the contract, shall not exceed R2 500 000 (two million five hundred thousand rand);
PROVIDED THAT:
this Provision shall not apply in respect of damage to:
1. any section of incomplete property which has been handed over for use by the Insured and that has been satisfactorily tested and commissioned;
2. existing insured property caused by a Defined Event not otherwise excluded by this Policy.
17. Warranties and endorsements
If cover is subject to a specific warranty(ies) or requirement(s) or the premium was reduced as a result of receiving a discount for precautionary measures taken on any Section of this Policy and these measures are not in place, maintained and/or operational at the time of the loss or damage for which a claim is submitted, the Company may reject the claim.
General Exceptions, Conditions and Provisions
Page | 22 Hollard Business Policy – Binder – Version 8 2024