Page 30 - Policy Wording - Hollard Business Binder (2020-08-26)

Fire
1. GENERAL
FIRE
1.1 At renewal, a thorough review of the risk needs to be conducted again as the risk may have changed during the year.
1.2 The section is referred to as Fire, however, the cover is inclusive of other perils as well. Please refer to the wording for full details.
2. UNDERSTAND THE RISK
2.1 Business description
2.1.1 Where a business occupation is listed as "Property Owner", ensure that you obtain the full list of tenants including their business activities.
2.1.2 The risk should be rated according to the most hazardous activity and where such an activity is a decline in terms of Hollard's treaty agreements, cover should not be granted.
2.1.3 The tenant list should be noted on the policy schedule and checked at each subsequent renewal.
2.2 Risk location
It is important to know where the risk is located and due consideration should be given with regards to:
Information
Why it is important
2.2.1 topography, hills, slopes
2.2.2 proximity to rivers and streams and general flow of water
2.2.3 proximity to informal settlements, taxi ranks, new developments and building activities, open land adjacent
2.2.4 history of lightning
2.2.5 accessibility to premises
2.2.6 distance to firefighting services
2.2.7 history of hail storms
2.2.8 growing crops/timber risk
2.3 Equipment and parts availability
landslide, running water water and flood damage
theft, malicious damage
lightning and power surge as a result
increased repair cost to property, surveyors and assessors to evaluate risk, fire brigade to put out fires
important in combatting fire increased exposure to storm perils treaty exclusion
Try and establish the following in terms of plant and machinery:
• country of origin;
• parts availability;
• whether the manufacturer is represented locally;
• distance from servicing agents;
• whether machines are regularly serviced;
• whether local replacement machines or parts are available;
• approximate time for imports of parts/replacement machines.
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020 29