Page 25 - Hollard Business Policy - Binder

Fire
DEFINED EVENTS
FIRE
Damage to the whole or part of the property described in the Schedule, owned by the Insured or for which they are legally responsible, including alterations by the Insured as tenants to the building and structures, by:
1. fire;
2. lightning and thunderbolt;
3. subterranean fire;
4. explosion;
5. earthquake (whether arising from mining operations or otherwise), volcanic eruption or other convulsion, but excluding loss of or damage to property in the underground workings of any mine;
6. special perils:
6.1 storm, wind, water, hail or snow, but excluding damage to property:
6.1.1 arising from its undergoing any process necessarily involving the use or application of water;
6.1.2 caused by tidal wave originating from earthquake;
6.1.3 in the underground workings of any mine; or
6.1.4 in the open (other than buildings, structures and plant designed to exist or operate in the open) unless specifically insured as a separate item in the Schedule; or
6.1.5 any structure not completely roofed unless specifically insured as a separate item in the Schedule; or
6.1.6 being retaining walls unless specifically insured as a separate item in the Schedule;
6.2 aircraft and other aerial devices or articles dropped therefrom;
6.3 impact by animals, trees, aerials, satellite dishes or vehicles excluding damage to such animals, trees, aerials, satellite dishes or vehicles or property in or on such vehicles;
PROVIDED THAT:
this Defined Event (special perils) does not cover:
1. wear and tear or gradual deterioration;
2. damage caused or aggravated by:
2.1 leakage or discharge from any sprinkler or drencher system or fire extinguishing installation/ appliances in the buildings insured hereby or in buildings containing property insured hereby;
2.2 subsidence or landslip;
2.3 the Insured's failure to take all reasonable precautions for the maintenance and safety of the property insured and for the minimization of any damage;
2.4 mildew, damp, rising damp, rust, corrosion or rot;
7. loss of or damage to geysers, water tanks, water apparatus, water pipes, drip trays, pans and water heating systems, following sudden and unforeseen bursting and leaking, the property of the Insured installed in the building(s) described in the Schedule;
PROVIDED THAT:
1. the Company shall not be liable to pay for loss or damage:
1.1 caused by, or aggravated by, wear and tear, rust, decay or gradual deterioration;
1.2 caused by cracking or splitting of the unit due to wear and tear;
1.3 as a result of faulty material or workmanship, inherent device and latent defects or faulty or defective design;
Hollard Business Policy – Binder – Version 8 2024 Page | 23