Page 46 - Policy Wording - Hollard Business Binder (2020-08-26)

Buildings Combined
1. GENERAL
BUILDINGS COMBINED
1.1 The intention of the Combined section is to provide cover to commercial buildings used for residential or non-manufacturing types of risk where no more than 25% of the total area of the building is occupied by commercial risks.
1.2 If for any reason it is decided to issue a Combined section as opposed to a Fire section, the Fire rate will still apply and a loading should be considered in view of the wider cover under this section.
1.3 This section now has an optional extension available for theft of external fixtures and fittings which includes theft of copper pipes, air-conditioning systems and gate and/or pool motors.
2. UNDERSTAND THE RISK
2.1 Business description
The occupancy or business activity is the main factor in determining the rate and other terms and conditions.
2.2 Risk location
Refer to point 2.2 under the Fire section.
2.3 This section covers:
2.3.1 Sub-section A – Property
2.3.1.1 The actual building, i.e. the structure;
2.3.1.2 no contents;
2.3.1.3 glass in terms of perils.
2.3.2 Sub-section B – Public supply connections
2.3.2.1 No sum insured required, fixed sum insured;
2.3.2.2 on the premises of the Insured;
2.3.2.3 no additional premium required as cover is automatically included in terms of the wording.
2.3.3 Sub-section C – Rent
Automatic cover based on 30% of the Property sum insured.
2.3.4 Sub-section D – Liability (Occurrence basis)
2.3.4.1 Policy automatically includes cover up to R2 500 000;
2.3.4.2 if a higher limit is required, this can be purchased under the Combined Liability section;
2.3.4.3 property owner's liability only attaches if the building is covered under this section.
2.4 Building construction
Refer to point 2.4 under the Fire section.
3. UNDERWRITING THE RISK
3.1 Flood levels, rivers
Refer to point 2.5 under the Fire section.
3.2 Malicious damage
This extension is now included in the wording under General Provision 10.
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020 45