Page 105 - Commercial - Underwriting Mandates & Guidelines Binder

Cyber Liability
͵ account lockout because of at most 10 (ten) failed authentication attempts;
͵ passwords prevented from being used for at least 5 (five) password changes.
• Default installation/administration account passwords changed from the default password and where possible accounts are disabled, deleted or renamed.
• Administrative/remote access interfaces such as remote desktop protocol (RDP) are accessible exclusively over secured channels, e.g. virtual private network (VPN)
• Physical access to server rooms/sensitive processing facilities is restricted
• Sensitive System activity logs are stored for at least 6 (six) months
• Backup and recovery procedures for Sensitive Systems and Sensitive Data including:
͵ weekly backup generation;
͵ monitoring for successful backup generation; and
͵ testing the ability to restore from backups at least every 6 (six) months.
3. UNDERWRITE THE RISK
3.1 Retroactive date can apply but not for more than 12 (twelve) months preceding.
3.2 Do not underwrite the risk without a completed proposal which is duly signed.
3.3 The maximum acceptance limit for this facility is R10 000 000 (ten million rand). Should a higher limit be required by the client, please contact Hollard for a quote.
4. DECLINED AND REFERRAL
Before quoting on a risk check for acceptability. Where there is uncertainty refer to Hollard for clarification.
5. MINIMUM PREMIUMS
The premiums noted in the table below are annualized and includes VAT and 20% (twenty percent) broker's commission. For monthly premiums, divide by 12 (twelve).
Annual Turnover
Limit of Indemnity (per claim and in the annual aggregate)
*Deductible
R250 000
R500 000
R1 000 000
R2 500 000
R5 000 000
R10 000 000
R0 – R 10M
R0M – R25M
R25M – R50M
R50M – R75M
R75M – R100M
R100M – R250M
15 000
25 000
25 000
50 000
50 000
100 000
2 500
3 410
4 250
4 825
5 295
7 500
3 500
4 775
5 950
6 750
7 410
10 500
5 375
7 215
8 780
9 985
10 905
15 045
8 485
11 400
13 885
15 775
17 225
23 760
12 210
16 405
19 965
22 685
24 785
34 185
18 805
23 615
28 730
32 645
35 665
49 195
Retroactive date, maximum 1 year only, load the premium by 15%.
Minimum section premium
As per table above
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022
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