Page 39 - Commercial - Underwriting Mandates & Guidelines Binder

Fire
4.13.7 Any risks that do not comply with the above requirements must be sent to your Hollard branch for review.
Fire and lightning only 0,25% 10% of claim minimum R1 000
Fire and allied perils 0,38% 10% of claim minimum R1 500
Rate
Description
Rate
Excess
Maximum acceptance limit – Fire and Building accumulation: R2 000 000 (VAT excl.) Limits in excess to be referred to your Hollard branch
Limit
5.
4.15 WARRANTIES
4.14
Deterioration of stock extension
4.14.1 Cover provided is not on an All Risks basis but restricted to Fire perils only.
4.14.2 Please refer to the Deterioration of Stock Section for All Risks cover.
4.14.3 Maximum limit of R500 000 applies. Please refer to Hollard should higher limits be required.
4.14.4 Note the following endorsement on the schedule:
"It is hereby declared and agreed that the word damage in this section is extended to cover:
Deterioration or putrefaction of stock in the cold chamber of any deep freeze unit due to a rise or fall in temperature as a result of fire perils provided that the Company will not be liable for:
a) Damage resulting from the deliberate act or any public electricity supply authority or the exercise by any authority of its powers to withhold or restrict supply.
b) Damage covered by any other section of this policy or any other policy of insurance.
c) The first 10% of claim minimum R1 000 of each and every claim.
d) More than the limit stated in the schedule, any one event or occurrence.
Subject otherwise to the terms, exceptions and conditions of the policy."
.25% 10% of claim minimum R1 000
Rate
Description
Rate
Excess
Additional claims preparation costs
Charge 50% (fifty percent) of the underlying base rate.
The reason for having a warranty is that we minimise our exposure to the risk. This should be applied based on the individual merit of the risk.
5.1 Chip fryers, extractor ducting and filters
The following warranty must apply: "It is hereby warranted that:
a) Chip fryers shall be fitted with thermostats and shall be switched off at close of business.
b) Filters must be taken down and cleaned every 14 (fourteen) days.
c) Ducting must be professionally cleaned every 6 (six) months, and documentary proof must be retained."
5.2 Woodworking
5.2.1 Acceptance of this type of risk is not encouraged and is subject to referral and acceptance by Hollard.
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022 37