Page 78 - Commercial - Underwriting Mandates & Guidelines Binder

3.8
3.9
3.10
3.10.1 3.10.2
To be excluded under the Business All Risks section due to the high risk exposure. Cover may be purchased under the Fire, Buildings Combined and Theft sections.
Business All Risks
3.5
3.6
3.7
3.4.4.5 The following warranty must be noted on the Schedule, without exception:
"It is hereby warranted that the toolbox is securely fixed to the vehicle and kept securely locked when not in use."
Electronic equipment
3.5.1 Smart phones are still insured under this section as the original intent of these devices was to be a cellular phone not electronic equipment, no matter the functionality.
3.5.2 All tablets and similar hand-held devices are considered electronic equipment.
3.5.3 Rather cover electronic equipment items under the Electronic Equipment section as mechanical breakdown cover is included together with the benefits of this section.
Deterioration of stock
3.6.1 See point 4.14 under the Fire section.
3.6.2 Where All Risks cover is required, the items should be insured under the Deterioration of Stock section.
Exhibition risks
3.7.1 These must be avoided, unless the security arrangements are sufficient.
3.7.2 Theft should be restricted to loss following forced and violent entry into or exit from the premises.
3.7.3 The nature of property being exhibited must be considered.
3.7.4 No exhibitions in the open.
3.7.5 Premium must be sufficient to cover at least one loss and should be no less than the premium equal to six months.
3.7.6 A deductible of 10% (ten percent) of the claim minimum R5 000 (five thousand rand) is recommended.
Remote blocking
3.8.1 This cover is automatically included in the wording but limited to R25 000 (twenty five thousand rand).
3.8.2 No higher limits should be considered.
3.8.3 Only specified property will be covered.
Drones
3.9.1 There is an increasing need for this cover, whether it is used socially or commercially.
3.9.2 The use of a drone does have an impact on privacy which may result in a Public Liability claim.
3.9.3 The construction is not robust and a handling error will certainly result in a total loss.
3.9.4 Drones are highly susceptible to theft as they are easily intercepted when airborne.
3.9.5 If cover is provided, the following endorsement is applicable:
"The Company will not be responsible for any loss of or damage caused whilst the drone is in use."
3.9.6 The Public Liability section should be endorsed to exclude the use of drones or the word "aircraft" must be extended to include drones.
3.9.7 Please refer this risk to your Hollard branch where increased cover is required.
Solar power systems
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Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022