Page 55 - Policy Wording - Hollard Business Binder (2020-08-26)

Limit
25% of Theft rate applicable
1.10 Theft
1.10.1 1.10.2
The Theft section must be in force.
The wording limits the sum insured to the same sum insured as stated under the Theft section. These limits are not cumulative.
Business Interruption
Rate
Description
Rate
1.11
Other events (murder, suicide, illness, shark attack, contagious disease)
1.11.1 1.11.2
1.11.3 1.11.4
It is common in the market place for B&B's, hotels, lodges or any business reliant on bookings and people spending money to request this extension of cover.
However difficult to prove the loss, the Insured may approach the insurer to pay for loss of income if such threats do exist.
Cover is limited to R100 000 any one period of insurance.
The policy contains a wording, but if insuring an eatery this may be deleted and replaced by the following:
"Notwithstanding General Exception – Infectious or contagious disease, this insurance is extended to indemnify the Insured up to a maximum of R100 000 (one hundred thousand rand) for loss resulting in interruption of, or interference with the business due to the following causes occurring at the insured premises unless otherwise indicated:
1. murder or suicide in the restaurant;
2. injury or illness sustained by any person arising from or traceable to foreign or injurious matter in the food or drink provided by the restaurant;
3. contagious and infectious illness or disease manifested by any person whilst in the restaurant of the insured or within a 15 km (fifteen kilometre) radius of the premises of
the Insured, excluding:
3.1 Coronavirus disease (COVID-19)
3.2 Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)
3.3 Any mutation or variation of SARS-CoV-2
3.4 Acquired Immune Deficiency Syndrome (AIDS) or an AIDS -related condition
3.5 Any fear or threat of 3.1, 3.2, 3.3 or 3.4 above.
This exclusion applies regardless of any other cause or event that in any way contributes concurrently or in any sequence to the loss, damage, cost or expense and regardless whether or not there is any declaration of an outbreak of a pandemic by the WHO or any national or international body or legal jurisdiction;
4. the closing of the whole or part of the restaurant by order of a competent public authority consequent upon defect in the drains or other sanitary arrangements at the restaurant.
Indemnity Period: The period during which the results of the business shall be affected in consequence of the Damage being either the occurrence of the incident or the date on which restrictions on the premises are applied and ending not later than 3 months thereafter.
Premises: Those locations stated in the Policy Schedule definition of premises of the Insured and shall not extend to include the premises of any supplier, customer, contractor or sub-contractor of the Insured.
Turnover: Items 1 till 4 must result in the reduction of the Insured’s turnover.
54
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020