Page 94 - Hollard Business Policy - Binder

MEMORANDUM
The Insured will be indemnified against loss of or damage to third party property as a result of spread of fire from the insured property;
PROVIDED THAT:
1. the limit of indemnity shall not exceed R5 000 000 (five million rand) any one event; or
2. the Public Liability limit stated in the Schedule, whichever is the lesser.
SPECIFIC EXCEPTIONS (applicable to Sub-Section 1)
The Company will not indemnify the Insured under this Sub-Section against liability:
1. for loss of, or damage to property belonging to, or in the Insured’s care, custody, or control;
2. damage to property being worked upon and arising out of such work;
3. arising from the ownership, possession, or use by or on the Insured’s behalf or an employee of the Insured of:
3.1 any mechanically propelled vehicle or attached trailer, while in use in circumstances where compulsory insurance or security is required by any road traffic legislation, but this Exception will not apply to liability caused by:
3.1.1 the loading or unloading of any such vehicle or trailer, arising beyond the limits of any carriageway or thoroughfare;
3.1.2 any self-propelled mechanical plant, or any machinery or apparatus attached to any other vehicle, while used as a tool of trade, other than in circumstances where such liability is governed by any road traffic legislation requiring compulsory insurance or security;
3.2 any aircraft or other aerial device, hovercraft, watercraft, or offshore installation but this Exception will not apply to liability caused by:
3.2.1 hand propelled watercraft or sailing craft not exceeding 8 m (eight meters) in length; or
3.2.2 watercraft not exceeding 25 m (twenty five meters) in length, not owned by the Insured but used by the Insured for business entertainment purposes, with the exception of racing or trials;
PROVIDED THAT:
the Insured is not entitled to an indemnity under any other Policy;
4. arising from any product, other than food or drink provided for consumption on the Insured’s premises;
5. consequent upon injury or damage after the completion and handing over of any work and caused by or through or in connection with any defect or error or omission from such work;
6. arising from the use of any solar power system or any component thereof.
CLAUSES AND EXTENSIONS (applicable to Sub-Section 1)
Subject to all the Terms, Exceptions, Conditions and Endorsements relating to this Section of the Policy, the Insured will be indemnified as below. The total of all payments made under these Extensions will be part of and not in addition to the Limit of Liability. The Extensions are also subject to the deductible as stated in the Schedule.
1. Automatic acquisitions
The indemnity afforded by this Sub-Section of the Policy will apply automatically to all operations including premises acquired, established or created during the period of insurance;
PROVIDED THAT:
1. the Insured notify the Company in writing with full underwriting information:
1.1 within 90 (ninety) days for new acquisitions where annual turnover is not more than 15% (fifteen percent) of the Insured’s last published annual turnover figure and there is no material alteration to the business or risk;
Combined Liability (Claims-made Basis)
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Hollard Business Policy – Binder – Version 8 2024