Page 87 - Commercial - Underwriting Mandates & Guidelines Binder

Combined Liability (Claims-made Basis)
3.18 Retroactive date
3.18.1 Cover can be 'bought back' for a selected period.
3.18.2 This option provides continuous cover as if a policy was in place at the time.
3.18.3 The period should never exceed three years.
3.19 Statutory defence costs
3.19.1 Cover is automatically included at R150 000 per event or R250 000 in the aggregate any one period of insurance.
3.19.2 This limit may be increased to R200 000 per event or R300 000 in the annual aggregate at an additional premium.
3.20 Wrongful arrest and defamation
3.20.1 Cover is automatically included at R150 000 per event or R250 000 in the aggregate any one period of insurance.
3.20.2 This limit may be increased to R200 000 per event or R300 000 in the annual aggregate at an additional premium.
4. ACCEPTANCE LIMITS
Description
General and Tenants (Public Liability)
Limit
R20 000 000
R200 000 any one event/R300 000 in the annual aggregate R200 000 any one event/R300 000 in the annual aggregate
a) Up to R5 000 000 (in the annual aggregate)
b) For higher limits – refer to Hollard with proposal and previous claims
Cover not available – treaty exclusion
Statutory legal defence costs
Wrongful arrest
Products liability/Defective Workmanship
a) Up to R5 000 000 with questionnaire (in the annual aggregate)
b) For higher limits – refer to Hollard with questionnaire and previous claims
c) Maximum acceptance limit – R10 000 000
Spread of fire
Warehouseman's
5. RATING
Classification
Description
Excess
A – Low
Insured premises or business activity is:
a) not particularly susceptible to cause loss or damage or bodily injury;
b) small number of visitors (public) to the premises;
c) small area (racks) of display, no mega display area;
d) not using heavy duty plant, forklifts or travelling cranes;
e) no hazardous commodities on premises;
f) typically auditors, attorneys, etc.
R1 500
B – Medium
Insured premises or business activity is:
a) not particularly susceptible to cause loss or damage or bodily injury;
b) large number of visitors (public) to the premises;
c) large size (racks) of display, meaningful display area;
d) not using heavy duty plant, forklifts or travelling cranes;
e) no meaningful amounts of hazardous commodities on premises;
f) typically bank halls, accommodation, small supermarkets, etc.
10% of claim minimum R1 500
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022 85