Page 88 - Commercial - Underwriting Mandates & Guidelines Binder

Combined Liability (Claims-made Basis)
Classification
Description
Excess
C – High
Insured premises or business activity is:
a) reasonably susceptible to cause loss or damage or bodily injury;
b) large number of visitors (public) to the premises;
c) very large (racks) area of display, mega display area;
d) using heavy duty plant, forklifts or travelling cranes;
e) potential for storage or trading in hazardous commodities;
f) hazardous commodities on premises;
g) typically shopping malls, chain stores and hypermarkets, bazaars, etc.
10% of claim minimum R2 500
D – Extra High
Insured premises or business activity is:
a) very susceptible to cause loss or damage or bodily injury;
b) very large number of visitors (public) to the premises;
c) large area (racks) of display (rack area), mega display area;
d) not using heavy duty plant, forklifts or travelling cranes;
e) hazardous commodities on premises;
f) typically Makro-type shop.
10% of claim minimum R5 000
E – Refer
Insured premises or business activity is:
a) particularly susceptible to cause loss or damage or bodily injury;
b) large amount 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) typically sport stadiums or motor racing venues.
10% of claim minimum R5 000
5.1
Rates
5.1.1 5.1.2 5.1.3 5.1.4
Determine the rate according to limit of indemnity, limit number and turnover. Apply the rate to annual turnover to determine annual premium due.
Should the Insured have multiple premises, charge a premium per premises.
A minimum turnover of R1 500 000
0.054 0.042
0.062 0.048
0.071 0.056
0.082 0.064
0.055 0.045
0.063 0.052
0.073 0.060
0.084 0.068
applies.
Refer to Hollard
Refer to Hollard
0.032 0.026
0.037 0.030
0.042 0.034
0.049 0.040
0.034 0.029
0.039 0.033
0.045 0.038
0.052 0.044
Public Liability
Limit of Indemnity: R1 000 000
Limit Number
Turnover up to R50M
Turnover up to R100M
Turnover up to R250M
Turnover up to R500M
A
B
C
D
E
Limit of Indemnity: Up to R2 500 000
Limit Number
Turnover up to R50M
Turnover up to R250M
B
Turnover up to R100M
Turnover up to R500M
A
C
D
E
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Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022