Page 50 - Policy Wording - Hollard Business Binder (2020-08-26)

Office Contents
2.4.4
2.4.5
Sub-section D – Liability documents
2.4.4.1 2.4.4.2
Automatically included up to R50 000. Increased limit available at an additional cost.
Rate
Description
Rate
Limit
3.
.250%
Sub-section E – Increase in cost of working
2.4.5.1 Automatically included at 30% of the Contents sum insured.
2.4.5.2 Cost and expenditure to maintain the business, prevent further losses in turnover or to keep the business operational.
UNDERWRITING THE RISK
3.1 Surveys
Please refer to the section on Surveys.
3.2 Theft
3.2.1 Forced entry/exit
Cover is included at 25% of the Contents sum insured and must reflect on the Schedule. Increased limit is available at an additional cost.
3.2.2 Non-forcible
Cover can be purchased at an additional premium but is limited to 25% of the Contents sum insured. Careful consideration must be given when granting this cover. A higher theft excess is recommended.
3.2.3 Alarm
3.2.3.1 The burglar alarm warranty automatically applies as per the wording.
3.2.3.2 In the event that the warranty needs to be waived, please obtain full details of security measures in place and take the area and type of contents into consideration. This is not recommended where the total theft exposure (i.e. combined theft limits under Office Contents, Theft, Money and Electronic Equipment) exceeds R50 000.
3.2.3.3 The alarm warranty is generally waived if a business is open 24 hours a day, e.g. a hospital.
Rate
Description
Rate
Forcible entry:
a) limited to 25% of the Contents sum insured (automatic cover)
b) increased limit
a) Included in the base rate
b) 3%
Non-forcible entry – limited to 25% of the Contents sum insured (optional cover)
3.3 Malicious damage
This extension of cover is now included in the wording under General Provision 10.
3.4 Flood levels, rivers
Refer to point 2.5 under the Fire section.
8%
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020
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