Page 86 - Commercial - Underwriting Mandates & Guidelines Binder

3.8
3.9
3.10
3.11 3.12 3.13 3.14 3.15
3.16
3.17
Punitive damages
Punitive/exemplary/aggravated damages are excluded in terms of the wording and cannot be included by endorsement.
Costs and Expenses (including defense costs)
3.9.1 All costs and expenses incurred by the Insured in relation to the claim will form part of the limit of indemnity stated in the Schedule.
3.9.2 Decline requests to add this in addition to the limit of indemnity.
Warehousing
3.10.1 The Insured is responsible for goods in their direct custody and the cost of a claim may include:
• repacking;
• maintaining or topping up (wine in tanks with water);
• overhauling or refurbishing;
• storage under specific conditions.
3.10.2 Unfortunately, Warehouseman's liability is a treaty exclusion and as such the Combined Liability section may not be extended to include same.
Farms
Farming risks must be underwritten in terms of the Hollard Agri product.
Spectator stands and pavilions
This is a declined risk.
Professional indemnity
Cover is excluded in terms of this section but can be purchased from iTOO.
Tree-felling, bush-cutting
This is a declined risk.
Spread of fire
3.15.1 While the policy does not exclude spread of fire, it may be necessary, depending on the risk, to exclude the cover. The following endorsement should be noted on the schedule:
"The Company will not indemnify the Insured in respect of liability caused by or through or in connection with the spread of fire from the Insured's premises."
3.15.2 The survey will discuss this aspect and should be addressed as part of the underwriting process.
3.15.3 Fire breaks and other aspects required by law must be adhered to.
3.15.4 Spread of fire cover is limited to a maximum of R5M, any limit above this must be referred to your Hollard branch together with the relevant completed questionnaire.
Security firms
3.16.1 Cover is extended to include acts of negligence by employees of the security firm contracted to the Insured as if they were employees of the Insured.
3.16.2 If the security firm has a separate policy covering the insured event, the Hollard policy will only contribute to the loss if the claim is in excess of the security firm’s limit of indemnity.
Security systems – installers
3.17.1 3.17.2
Systems installed should never be guaranteed. This is a manufacturer issue.
Requests for Products liability/Defective workmanship cover must be referred to your Hollard branch.
Combined Liability (Claims-made Basis)
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Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022