Page 67 - Policy Wording - Hollard Business Binder (2020-08-26)

3.6 Transit
3.6.1 Any amount exceeding R30 000 should be handled by professional carriers.
3.6.2 Farmers and businesses in some areas do not always have access to professional money carriers. Make sure the policy is endorsed with the following warranty:
"It is warranted that:
1. the shortest route with no stopovers shall be followed to and from the bank or place of deposit;
2. money in transit shall at all times be placed or kept in a concealed compartment and away from the view of passers-by;
3. at no time shall money be transported by a single person (in the employ of the Insured);
4. the Insured shall be the co-insurer by 25% (twenty five percent) while money is lost during the period of transport;
5. the Company shall not be liable to pay more than R30 000 (thirty thousand rand) any event unless agreed otherwise."
3.7 Receptacles
3.7.1 Receptacles shall mean any safe, strongroom, strongbox, till, cash register, cash box or other receptacle for money including any franking machine.
3.7.2 The value of receptacles must be determined, insured separately and specified in the Schedule if the limit of R5 000 is not adequate.
3.8 Farm stalls
3.8.1 This cover should be avoided.
3.8.2 Hold-ups are common and usually the stall is remote and control thereof a challenge.
3.8.3 Only stalls on the same premises as the main dwelling can be considered.
4. RATING
Please refer to Annexure C for the definitions of the risk classifications.
Limit 1 Limit 2 Limit 3 Limit 4 Limit 5 Farm stalls
Collectors – per person Receptacles
Residence of Insured Riot and strike
6% 7% 8% 10% Decline Decline
10%
Same as base rate 4%
.100%
Money
Major Limit
Description
Rate (all areas)
Optional Extensions
Description
Rate (All Areas)
Personal Accident (Assault) Capital sum – R2 000 Permanent disability – R2 000 Medical expenses – R100
R10 per person per month
Note: Increase the premium in accordance with the limit required, e.g. charge R30 for R6 000 Capital sum
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020