Page 119 - Policy Wording - Hollard Business Binder (2020-08-26)

2.4 2.5
2.6
Fleet
Binders are not allowed to issue on a fleet basis. Refer any fleet requests to your Hollard branch.
Motor accumulation
2.5.1 Applicable to a fleet of vehicles parked in one location at any one time.
2.5.2 Due to the fuel in tanks, spread of fire is imminent.
2.5.3 The policy must be warranted to note that vehicles should be parked in groups of no more than 6 and that each group should have a 5-metre separation between them.
2.5.4 Where vehicle accumulation value exceeds R40 000 000, a separate item should be loaded under the Fire section of the policy as this limit will then cede to the Fire treaty in the event of a loss.
Requirements regarding anti-theft devices
2.6.1 2.6.2
2.6.3
Vehicles with a sum insured of R400 000 and over (actual retail value as per TransUnion) must be fitted with an early warning tracking and recovery system which must be kept in working order.
In the event that the insured vehicle is stolen or hi-jacked and it is discovered that the required tracking device was not fitted and operational at the time of loss, an additional first amount payable of 5% of the claim will apply.
Theft or hi-jack cover in respect of all Toyota Hilux and Fortuner models manufactured prior to October 2012, will be subject to the fitment of an early warning tracking and recovery system which must be kept in working order. This requirement will be waived if the vehicle is fitted with a new horn bracket with switch in conjunction with the an ECU bracket which conceals the security horn (a hood switch is fitted on the cover which will allow the alarm to be activated should the hood be forced open with a crow bar). Vehicles with a sum insured of R400 000 and over must still comply with the requirement as set out in 2.6.1 above.
Motor
2.3.4 Across border cover
2.3.4.1 The policy is extended to cover the insured vehicle whilst travelling to any of the territories listed above. However, third party liability cover must be purchased from the country being visited and a third party liability motor car insurance certificate will be required at the border post.
2.3.4.2 Cover is subject to the Hollard Business Policy terms, conditions, provisions, exceptions and exclusions.
2.3.4.3 If branches are required to issue a cross-border letter, the letter issued should contain the following minimum information:
• policy number;
• name of policy holder;
• name of broker/administrator;
• name of insurer;
• vehicle details, including:
– year/make/model;
– registration-, engine- and VIN numbers;
• cover type (Comp, TP or TPFT);
• vehicle use as per policy and purpose of use outside RSA;
• period of stay across border (actual dates);
• designated driver and licence details (i.e. EC);
• interest of financial institution (if applicable);
• the letter is issued subject to the exceptions, provisions and conditions of the underlying policy.
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020