Page 17 - Policy Wording - Hollard Business Binder (2020-08-26)

Surveys
SURVEYS
1. This is a critical aspect of our business as it provides us with firsthand knowledge of any risk.
2. Together with the information obtained from the questionnaires, the Underwriter will be in a better position to evaluate the risk and can make a sound underwriting decision as to either accept and on what terms or decline
the risk.
3. Post-loss surveys must be requested on large losses (usually above R100 000) and multi-claimants. This will
highlight issues that may prevent future losses and also play a role in risk management.
4. If the occupation changes to something more hazardous, then a survey should be immediately requested according
to the table below, thereafter the rates and terms should be adjusted accordingly.
5. All risks classified as High or Extra High must be referred to the Hollard branch for approval, irrespective of value.
6. The Insured must be advised of all survey requirements, following which the policy may be immediately endorsed
(depending on the severity of the survey requirement) with a punitive deductible until a written confirmation of compliance is obtained from the Insured. This will lessen the burden of the underwriter in constantly inquiring as to whether the Insured has complied with the survey requirements. Please refer to point 13. Survey risk requirement warranty for the appropriate endorsement.
7. If the risk was accepted and a survey provides evidence that the risk is no longer acceptable, ensure that the Insured is advised immediately. If the Insured is unable or unwilling to attend to the requirements submitted, give notice of cancellation as per Policy Conditions.
8. Please submit the survey request to your Hollard branch together with the latest quote/policy schedule, contact information and any additional information to be noted. A Hollard surveyor will then be in contact to make the necessary arrangements.
9. The cost towards the survey is paid by the facility as an expense.
10. Refer to below table for details as to when a survey is required (Hollard holds the right to request a survey on any risk at any time):
Note: If Riskmen is not available a surveyor will be appointed. From R3M to R20M
At inception and thereafter every 3 years
At inception and thereafter every 3 years
At inception and thereafter every 2 years
At inception and thereafter every 2 years
At inception and thereafter annually at renewal
At inception and thereafter annually at renewal
At inception and thereafter annually at renewal
At inception and thereafter every 3 years
At inception and thereafter every 3 years
At inception and thereafter every 3 years
At inception and thereafter every 2 years
10.1 Fire Classes
Combined exposure
Survey type
Frequency
L
M
H
X
Thatch
1 (Low)
2 (Medium)
Exceeding R20M
From R3M to R20M
Exceeding R20M
All risks
All risks
All risks – max R5 750 000 From R250 000 to R500 000
Exceeding R500 000
From R250 000 to R500 000
RiskMen
Full survey
RiskMen
Full survey
Full survey
Full survey
Basic survey questionnaire Basic survey questionnaire
Refer to Hollard
Basic survey questionnaire
Refer to Hollard
10.2 Theft
Location exposure
Survey type
Frequency
Exceeding R500 000
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020