Page 58 - Policy Wording - Hollard Business Binder (2020-08-26)
P. 58
Business Interruption
1.14 Public Utilities
1.14.1 Insured perils only:
1.14.1.1 damage as a result of an insured peril to electricity generating stations, sub stations, transmission networks, gasworks and water purification plants;
1.14.1.2 cover is limited to 75% of Gross profit, maximum R20 000 000 any one period of insurance.
1.14.2 Extended cover:
1.14.2.1 1.14.2.2 1.14.2.3
any damage to the public supply of water, gas and electricity to the premises of the insured;
cover is limited to 75% of Gross profit, maximum R20 000 000 any one period of insurance;
a 24 hour time excess applies in the event of mechanical or electrical breakdown.
Rate
Description
Rate
Insured perils only
.025%
Extended cover
.035%
1.15 Public telecommunication
1.15.1 Insured perils only:
1.15.1.1 damage as a result of an insured peril at the supplier premises;
1.15.1.2 cover is limited to 75% of Gross profit, maximum R20 000 000 any one period of insurance.
1.15.2 Extended cover:
1.15.2.1 1.15.2.2
1.15.2.3
any damage to the communications supply;
cover is limited to 75% of Gross profit, maximum R20 000 000 any one period of insurance;
a 24 hour time excess applies in the event of mechanical or electrical breakdown.
Rate
Description
Rate
Insured perils only
.015%
Extended cover
.02%
1.16 Additional claims preparation costs
Charge 50% of the underlying base rate.
Minimum section premium
Annual Monthly
R1 500 R135
Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020 57
