Page 118 - Commercial - Underwriting Mandates & Guidelines Binder

2.4 2.5
2.6
Fleet
2.7
2.8
2.9
2.10
Binders are not allowed to issue on a fleet basis. Refer any fleet requests to your Hollard branch.
Motor accumulation
2.5.1 Applicable to a fleet of vehicles parked in one location at any one time.
2.5.2 Due to the fuel in tanks, spread of fire is imminent.
2.5.3 The policy must be warranted to note that vehicles should be parked in groups of no more than 6 and that each group should have a 5-metre separation between them.
2.5.4 Where vehicle accumulation value exceeds R40 000 000, a separate item should be loaded under the Fire section of the policy as this limit will then cede to the Fire treaty in the event of a loss.
Requirements regarding anti-theft devices
2.6.1 Vehicles with a sum insured of R500 000 and over must be fitted with an early warning tracking and recovery system which must be kept in working order.
2.6.2 In the event that the insured vehicle is stolen or hi-jacked and it is discovered that the required tracking device was not fitted and operational at the time of loss, an additional first amount payable of 5% of the claim will apply.
2.6.3 Hollard does not have a preferred supplier or specific make/model of tracking device to be installed. The only prerequisite is that the tracking device must be an early-warning-type which means it must have an advance-warning movement detector or the system must notify the tracking company when the vehicle moves.
Passenger liability
2.7.1 Cover for private type vehicles and LDV’s is included up to the Third Party Liability limit noted on the Policy Schedule.
2.7.2 Cover for commercial vehicles (excluding special types), motorcycles (excluding quad bikes and golf carts) and buses is also now automatically included but limited to R2 500 000. This limit may not be increased.
Windscreen/Glass
2.8.1 Cover is now automatically included subject to the vehicle being comprehensively insured on the policy.
2.8.2 If the Insured elects to replace the damaged windscreen/glass with alternative or generic glass (as approved by Hollard), the windscreen excess of 25% of claim, minimum R500 will be waived. Please ensure that the Policy Schedule is endorsed accordingly.
2.8.3 There is no excess applicable to windscreen/glass repair.
Excess waiver/buyback (only applicable to Private type vehicles and LDV’s up to 3 500kg GVM)
2.9.1 This optional extension only waives the basic excess. The windscreen/glass, theft/hi-jack and penalty excesses still apply.
2.9.2 Not available to multi-claimants, drivers under the age of 25 years or drivers who have held a license for less than 5 years.
2.9.3 It is advisable to only apply this extension on a named driver basis.
Voluntary excess
2.10.1 2.10.2
The voluntary excess is in addition to the standard policy excess. Please see table below for discounts applicable:
Motor
• interest of financial institution (if applicable);
• the letter is issued subject to the exceptions, provisions and conditions of the underlying policy.
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Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022