Page 96 - Hollard Business Policy - Binder

5. the
(two hundred and fifty thousand rand) in the aggregate any one period of insurance. The Insured shall be liable for the first R2 500 (two thousand five hundred rand) each and every claim.
Company will not pay more than R150 000 (one hundred and fifty thousand rand) per event or R250 000
Additional cover may be purchased in which case the limit stated in the Schedule will be over and above the automatic cover provided.
SUB SECTION 2 – PRODUCTS LIABILITY AND DEFECTIVE WORKMANSHIP LIABILITY (if stated in the Schedule to be included)
PRODUCTS LIABILITY
The Company will indemnify the Insured in respect of Defined Events happening anywhere within the Geographical Limits as defined below, elsewhere than at premises occupied by the Insured, and caused by goods or products (including containers and labels) sold or supplied (including wrongful delivery and delivery of incorrect goods) by the Insured in connection with the business.
The amount payable under this Sub-Section, inclusive of any legal costs recoverable from the Insured by a claimant or any number of claimants, and all other costs and expenses incurred with the Company’s consent, for any one event or series of events with one original cause or source or during any one (annual) period of insurance, will not exceed in the aggregate the limit of indemnity for this Sub-Section stated in the Schedule.
Geographical limits (applicable to Products Liability only)
For the purposes of this Sub-Section:
1. the Republic of South Africa, Namibia, Botswana, Lesotho, the Kingdom of Eswatini (formerly Swaziland), Zambia, Zimbabwe, Mozambique and Malawi or in connection with Offshore work within the Continental Shelf around those countries;
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.
EXCLUSIONS (applicable to Sub-Section 2 – Products Liability only)
Notwithstanding anything to the contrary contained within this Policy, the Company will not indemnify the Insured under this Sub-Section against liability:
1. for the cost of repair, alteration, recall or replacement of the goods or products (including containers and labels) causing injury or damage;
Combined Liability (Claims-made Basis)
If, at the time of an event giving rise to a claim under this Sub-Section, the security firm is entitled to an indemnity under any other Policy in respect of the same event, the Company will not be liable to make any payment except in respect of any amount above the amount payable under such other Policy.
7. Statutory legal defence costs
The Company will pay legal costs incurred by the Insured or at the Insured’s request by any director, partner (where the Insured is a partnership) or employee of the Insured for the defence of a prosecution (including an appeal against a conviction) for a breach of statute or amending legislation with similar intent enacted within South Africa, committed or alleged to have been committed during the period of insurance in the course of the business;
PROVIDED
1. the
2. the
3. the
4. the
4.1 4.2 4.3
THAT:
prosecution arises out of an event which is the subject of this Sub-Section; Company will not be liable for fines or penalties of any kind;
Insured is not entitled to indemnity under any other Policy;
proceedings are not consequent upon any deliberate act or omission by:
the Insured;
any director or partner of the Insured;
any employee with any specific responsibility for compliance with any legislation which could reasonable have been expected to constitute a breach of the said legislation;
Page | 94 Hollard Business Policy – Binder – Version 8 2024