Page 90 - Commercial - Underwriting Mandates & Guidelines Binder

Combined Liability (Claims-made Basis)
Limit of Indemnity: Up to R5 000 000
Limit Number
Turnover up to R50M
Turnover up to R100M
0.135 0.110 0.086 0.074
0.155 0.127 0.099 0.085
0.179 0.145 0.114 0.098
0.205 0.167 0.131 0.113
Turnover up to R250M
Turnover up to R500M
A
B
C
D
Refer to Hollard
a) R150 000
b) Additional R50 000
a) R150 000
b) Additional R50 000
Additional claims preparation costs
Apply a rate of 2% to limit required.
Public Liability
Products Liability/Defective Workmanship
E
Optional Extensions
Description
Limit of indemnity
Annual premium
Statutory Legal Defence costs
a) Included b) R450
a) Included b) R450
R750 R62.50
Wrongful arrest
5.1.5
Minimum premium
Annaul
Monthly
R1 000
R85
6.
WARRANTIES AND ENDORSEMENTS
6.1
6.2
6.3
Where applicable the warranties and endorsements below can be contained in the schedule to either restrict cover or to bring clarity to a specific risk offered or required.
Limits and excesses can be changed to suit the specific risk.
Hairdressers and Beauticians
6.3.1 6.3.2 6.3.3
Hairdressers and beauticians are combined as the activities are more than often combined and the endorsement is specific in which cover, exceptions and referrals are applicable.
Treatment is a different aspect to the product concept and can be seen as professional services which is an exception in terms of the wording.
If cover is granted, note the following endorsement on the policy schedule (note applicable limits):
“The Company will indemnify the Insured against liability in respect of loss of or damage to third parties, injury or damage caused by or in connection with or arising from any product sold or supplied or applied as part of the treatment or otherwise and applicable to:
1. hair extensions, dyeing, tinting, permanent hair waiving treatment, colouring or bleaching or other treatment given or administered in the course of the Insured’s business as a hairdresser;
2. any treatment involving cutting or puncturing of the skin, liposuction or Botox and any form of nail care or extensions;
3. body treatment including messages, acupuncture or manipulation of the body;
PROVIDED THAT:
1. 2.
the Insured shall be duly qualified and registered with the approved controlling body or board;
if an apprentice, only when they are under the direct supervision of a qualified practitioner in terms of 1.
88
Commercial Underwriting Mandates and Guidelines – Binder – Version 4 2022