Page 146 - Policy Wording - Hollard Business Binder (2020-08-26)

Machinery Breakdown (Including Loss of Profits and Deterioration of Stock)
Description
Rate
Max. item value
Freezer pumps Pumps
Refrigeration plant
Conveyor equipment
Borehole pumps (not submerged)
Other pumps
Pump and motor
Sealed units - domestic
Display type refrigerators/freezers
Other retail risks
Other commercial risks
3.5%
10%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
Refer to Hollard
R15 000
R15 000
R50 000
R50 000
R50 000
R25 000
R50 000
R25 000
R25 000
Refer
Sum insured
R25 000
Sum insured
Nil
48 hours
15%
48 hours
Any plant/equipment not listed
10% of claim, minimum R2 500
Excess
Optional extensions
Foundations and masonry refractories
Express delivery and overtime
Riot and strike
Additional claims preparation costs
Machinery, equipment or plant specified
.5%
.5%
.025%
2%
Business Interruption (following machinery breakdown)
Description
Indemnity period
Rates
Time deductible
3 months
6 months
12 months
.575%
.775%
.900% 96 hours
Description
Time deductible
Discount
Discount applicable for increased time deductible
Deterioration of Stock
Description
Rate
Excess
Time deductible
Meat
Dairy
Fish
Perishables
Increased Cost in Working
6.50%
12.50%
12.50%
17.50% 2.50%
10% of claim minimum R500
10% of claim minimum R750
10% of claim minimum R750
10% of claim minimum R1 500 10% of claim minimum R500
6. DECLINED/REFERRAL RISKS
6.1 Machinery/plant/equipment:
portable units of any nature, borehole pumps and gate motors should be written with care due to the high risk of accidental damage to the unit.
6.2 Deterioration of stock:
vaccines and cultures and any other medical or surgical supplies.
Minimum section premium
Annual Monthly
R2 500 R125
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020
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