Page 37 - Commercial - Underwriting Mandates & Guidelines Binder

Fire
4.9 Subsidence and Landslip
Please refer to the section on Subsidence and Landslip.
Extended cover .175% 5% of claim minimum R5 000
4.10 Wild baboons/monkeys
These animals are capable of destroying an entire roof as well as contents.
Rate
Description
Rate
Excess
Rate
Description
Rate
Excess
Buildings and contents 1.25%
10% of claim minimum R500
4.11
Unit
4.12
Limit
4.13
Geysers/water heating systems
4.11.1 4.11.2 4.11.3 4.11.4
Cover automatically included up to R12 500.
Building must also be insured on the policy for cover to apply. This cover extends to include Solar Geysers.
Limits in excess of R12 500 may be purchased.
3.5%
Rate
Description
Rate
Excess
Brands and labels
10% of claim minimum R1 000
10% of claim minimum R2 500
Optional extension sub-limited to a maximum of R2 500 000.
.125%
Solar power systems and other renewable energy risks
Rate
Description
Rate
Excess
4.13.1 There are four major renewable energy sources in South Africa:
• Solar energy from the sun;
• Wind energy;
• Biomass from plants;
• Hydropower from flowing water.
4.13.2 With the increased frequency of loadshedding and the strain on the national electricity grid countrywide, more and more South African households and businesses are looking to solar energy to cater for their day to day electricity needs.
4.13.3 The following renewable energy risks may not be written in the commercial space and must be referred to the applicable Hollard COE/UMA:
• Solar PV (Photovoltaic) system and solar farms (power generated electricity for sale to consumers)
• Wind, biomass and hydro energy generating risks
COE/UMA
Renewable energy risk
Hollard Corporate
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022 35