Page 69 - Policy Wording - Hollard Business Binder (2020-08-26)

1. GENERAL
GLASS
1.1 The cover provided differs from the cover provided under the Fire and Building Combined sections as it is on an all risks basis.
1.2 In addition to replacement/repair this section also covers (up to the limits stated in the wording):
1.2.1 boarding-up cost;
1.2.2 wires, vibrators and alarm strips;
1.2.3 removal and installation of fixtures and fittings;
1.2.4 cost of a watchman to guard over property till full replacement.
2. UNDERSTAND THE RISK
2.1 Obtain as much information as possible to understand what cover is provided for:
2.1.1 physical situation and details of protection and security arrangements;
2.1.2 type of area (areas with high pedestrian traffic are a greater risk);
2.1.3 shops – type of goods on display which may attract attention.
2.2 Previous losses
2.2.1 Often a glass claim follows a burglary and the risk factor is therefore similar.
2.2.2 Shops on street fronts are poor risks from a malicious damage and smash-and-grab point of view as well as impact by vehicles. Enclosed shopping centres, provided they are patrolled, are better risks.
3. UNDERWRITE THE RISK
3.1 It is suggested an excess of 10% (ten percent) of claim minimum R750 (seven hundred and fifty rand) be applied.
3.2 Should cover be required for only a portion of the risk, the applicable section of glass to which cover applies must be clearly defined.
3.3 Average
3.3.1 This section is subject to average.
3.3.2 Sum insured must be replacement cost.
3.3.3 Do not underwrite on a First Loss basis.
3.3.4 If the special replacement extension is selected, the sum insured must be adjusted to include the
increased value.
3.4 Fitment centres and dealers
These are declined risks.
4. RATING
Glass
Risk Classifificatition
Limit 2
Rate (All Areas)
Limit 1
Limit 3
Limit 4
Limit 5
6% 7% 8% 10% Decline
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020