Page 87 - Policy Wording - Hollard Business Binder (2020-08-26)

4.
ACCEPTANCE LIMITS
Combined Liability (Claims-made Basis)
3.15.8.3 farmers who are members of a FPA may not claim against each other;
3.15.8.4 all participating farmers will join forces in the event of a fire and underline the effectiveness of the FPA.
3.16 Security firms
3.16.1 Cover is extended to include acts of negligence by employees of the security firm contracted to the Insured as if they were employees of the Insured.
3.16.2 If the security firm has a separate policy covering the insured event, the Hollard policy will only contribute to the loss if the claim is in excess of the security firm’s limit of indemnity.
3.17 Security systems – installers
3.17.1 Systems installed should never be guaranteed. This is a manufacturer issue.
3.17.2 Requests for Products liability/Defective workmanship cover must be referred to Hollard.
3.18 Retroactive date
3.18.1 Cover can be 'bought back' for a selected period.
3.18.2 This option provides continuous cover as if a policy was in place at the time.
3.18.3 The period should never exceed three years.
3.19 Statutory defence costs
3.19.1 Cover is automatically included at R150 000 per event or R250 000 in the aggregate any one period of insurance.
3.19.2 This limit may be increased to R200 000 per event or R300 000 in the annual aggregate at an additional premium.
3.20 Wrongful arrest and defamation
3.20.1 Cover is automatically included at R150 000 per event or R250 000 in the aggregate any one period of insurance.
3.20.2 This limit may be increased to R200 000 per event or R300 000 in the annual aggregate at an additional premium.
Description
Limit
General and Tenants (Public Liability)
R20 000 000
R200 000 any one event/R300 000 in the annual aggregate R200 000 any one event/R300 000 in the annual aggregate
a) Up to R5 000 000 (in the annual aggregate)
b) For higher limits – refer to Hollard with proposal and previous claims
Cover not available – treaty exclusion
Statutory legal defence costs
Wrongful arrest
Products liability/Defective Workmanship
a) Up to R5 000 000 with questionnaire (in the annual aggregate)
b) For higher limits – refer to Hollard with questionnaire and previous claims
c) Maximum acceptance limit – R10 000 000
Spread of fire
Warehouseman's
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Commercial Underwriting Mandates and Guidelines – Binder – Version 2 2020