Page 36 - Commercial - Underwriting Mandates & Guidelines Binder

Fire
•
a survey is suggested to ascertain slopes, water management, previous damage or signs that may cause potential claims.
Rate
Description
Rate
Excess
Special perils .800% 10% of claim minimum R1 000
4.7 Leakage
4.7.1 4.7.2 4.7.3
4.7.4
The policy provides R50 000 (fifty thousand rand) free leakage cover. Additional cover can be purchased on a first loss basis only.
Leakage as a result from any sprinkler system, fire extinguisher or similar equipment and must be accidental.
Be mindful of risks where contamination might be an issue or where property is particularly susceptible to water damage. Terms should be adjusted accordingly, i.e. apply a rate loading.
Rate
Description
Rate
Excess
Additional leakage – first loss basis .100% 10% of claim minimum R1 500
4.8 Property designed to operate in the open
4.8.1 Special perils cover will only apply if the item is designed to operate in the open.
4.8.2 Be mindful of property in remote areas.
4.8.3 High probability of malicious damage.
Rate
Description
Rate
Excess
1.
Pumps (in the open or caged):
a) b)
above known flood level
below known flood level (if properly protected against water/flood)
3.50% 10% of claim minimum R1 000 5.75% 15% of claim minimum R2 500
2. Contents of pump houses:
Pump(s), electrical panel boards, cables and harnesses and motor(s):
a) above known flood level
b) below known flood level
2.00% Decline
10% of claim minimum R1 000 N/A
3. Masts and antennae:
a) fire and lightning only
b) combined fire perils
.550% 1.25%
10% of claim minimum R1 000 10% of claim minimum R1 500
Add excess:
If property is not protected by an arrestor or any approved device an additional excess of R2 000 must be applied.
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Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022