Page 93 - Hollard Business Policy - Binder

Combined Liability (Claims-made Basis)
13. First amount payable
the amount stated in the Schedule, which will be payable by the Insured for each event in respect of all damages, claimant’s costs and expenses and Defence Costs (including investigation costs other than the company’s own salary and other internal costs), before the Company will be liable to make any payment under this Section of the Policy.
14. System failure
malfunction or non-function of any mechanical and/or electronic system (whether or not the Insured’s property) caused by:
14.1 the response of a Computer to any date or date change; or
14.2 the failure of a Computer to respond to any date or date change; or
14.3 any loss of, damage to, change or corruption in, data or software on a computer or computer system; or any computer virus, or hacking into or degradation of, or breach of security in, or denial of access to, a computer, computer system, or website.
Computer includes computer hardware, computer software, microchip, microprocessor, any electronic equipment, and any device that gives or receives electronic instructions or information.
15. Pure financial loss
any pecuniary or economic loss or expense.
16. Retroactive date
the date stated in the Schedule.
SUB-SECTION 1 – PUBLIC LIABILITY
This Sub-Section will indemnify the Insured in accordance with the Defined Events for:
1. personal injury to any person;
2. loss of or damage to property;
3. obstruction, loss of amenities, trespass, nuisance, or interference with any right of way, light, air, or water;
in respect of an event after the Retroactive date, occurring within the Geographical Limits defined below, and arising from any claim first made against the Insured and notified to the Company during the period of insurance.
The Company’s total liability under this operative section of the Policy to pay all sums for which the Insured are legally liable, including claimant’s costs and expenses relating to any claimant or number of claimants in respect of an event, and Defence Costs, will not exceed the limit of indemnity stated in the Schedule.
However, where the limit of indemnity states “in the annual aggregate”, the Company’s total liability for all claims arising in any one period of insurance will be limited to the stated amount irrespective of the number of events giving rise to such claims.
Geographical Limits
Will mean for the purposes of this Sub-Section 1:
1. the Republic of South Africa, Namibia, Botswana, Lesotho, the Kingdom of Eswatini (formerly Swaziland), Zambia, Zimbabwe, Mozambique and Malawi;
2. elsewhere in the world excluding United States of America and/or Canada and/or their possessions or protectorates but only in connection with the business carried on by the Insured at or from any premises situated in any of the countries specified in 1. above.
Hollard Business Policy – Binder – Version 8 2024 Page | 91