Page 142 - Commercial - Underwriting Mandates & Guidelines Binder

Machinery Breakdown (Including Loss of Profits and Deterioration of Stock)
Description
Rate
Max. item value
Ovens, stoves, fryers (excluding elements/expandable parts)
Compressors Gate/electric motors Freezer pumps
Borehole pumps (not submerged)
Pumps Other pumps
Pump and motor
Sealed units - domestic
Refrigeration plant Display type refrigerators/freezers Other retail risks
Other commercial risks
Conveyor equipment
Any plant/equipment not listed
10% of claim, minimum R2 500
1%
3.5%
3.5%
3.5%
10%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
Refer to Hollard
R50 000
R50 000
R50 000
R15 000
R15 000
R50 000
R50 000
R50 000
R25 000
R50 000
R25 000
R25 000
Refer
Sum insured
R25 000
Sum insured
Nil
48 hours
15%
48 hours
Excess
Optional extensions
Foundations and masonry refractories
Express delivery and overtime
Riot and strike
Additional claims preparation costs
Machinery, equipment or plant specified
.5%
.5%
.025%
2%
Business Interruption (following machinery breakdown)
Description
Indemnity period
Rates
Time deductible
3 months
6 months
12 months
.575%
.775%
.900% 96 hours
Description
Time deductible
Discount
Discount applicable for increased time deductible
Deterioration of Stock
Description
Rate
Excess
Time deductible
Meat
Dairy
Fish
Perishables
Increased Cost in Working
6.50%
12.50%
12.50%
17.50% 2.50%
10% of claim minimum R500
10% of claim minimum R750
10% of claim minimum R750
10% of claim minimum R1 500 10% of claim minimum R500
6.
DECLINED/REFERRAL RISKS
140
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022
6.1
Machinery/plant/equipment:
6.1.1 6.1.2
portable units of any nature, borehole pumps and gate motors should be written with care due to the high risk of accidental damage to the unit;
solar power systems.