industrial development corporation risk …

INDUSTRIAL DEVELOPMENT CORPORATION RISK MANAGEMENT AND INSURANCE PROGRAM

01st APRIL 2014 TO 31st MARCH 2015

POLICY CLASS

INSURANCE COVER/- INTEREST/ PROPERTY

INSURANCE LIMITS / INDEMNITY LIMIT

DEDUCTIBLES

REMARKS

1. ASSETS ALL RISK

Lion of Africa – 100%

Policy No:

1. Material Damage All risks including Theft and Malicious damage

caused by thieves: Accidental Damage: Property in Transit to Audio: Video television, photographic equipment, Two-way Radios, Laptops/Notebooks, Hardware, Computers, Ipads, Cell phones, Software, Internal Glass, Personal Computers and All other property. Fire Allied and Perils; Contents contained in any of IDC Buildings, Deterioration of Stock, Art Gallery, fixtures and fittings therein, thereto or thereon, boundary walls, gates, posts and fences belonging thereto and All Contents contained in any building, structure or erection of IDC, Acts of authorities and Fire protection system upgrading .

) Annual Aggregate of Deductible R700 000 (VAT) Excl.) Stop Loss Deductible – R250 000

1. The sums insured is based on Replacement Values.

2. Average is applicable. 3. Accidental Damage is excluded on

Repossessed Properties. 4. Subsidence and landslip cover on

selected private properties. 5. Theft cover under Repossessed

Properties is subject to forcible and Violent entry or Exit.

Property Damage – R 10 000 1. Buildings (IDC & Others)

2. Repossessed Properties (Buildings/ Contents) 3. Buildings (Rotondo) 4. Contents ( In any IDC BLDG& Others,

including the Gym 5. Contents (Rotondo) 6. Deterioration of Stock (IDC Canteen) 7. IDC Art Gallery 8. IDC Hardware, PC’s, Ipads, Cellphones 9. Computers (Rotondo) 10. Software

) R 733 480 000 R 20 000 000 R 25 740 000 R 220 000 000 R 55 000 R 100 000 R 250 660 R 200 000 000 R 60 000 R 90 000 000

5% of claim minimum of R5 000 in respect Theft of Audio: Video television, photographic equipment, Two-way Radios, Laptops/Notebooks, Hardware, Computers, Ipads, Cell phones. Theft: R5 000 in respect of All Other Property 5% of claim minimum R5 000 in respect of Repossessed Properties.

NOTE: Repossessed Properties Cover is granted on Building s and Contents in an excess of R20 000 000 6. Repossessed Properties are subject

to monthly declaration, list and values of all repossessed properties during the previous month up to R20 000 000 and declaration adjustment at the end of the year

POLICY CLASS



DEDUCTIBLES

REMARKS

SITUATIONS;

1. Sandton - Head quarters And all other premises across Republic of South Africa.

11. Replacement value : Vehicles whilst parked

R 35 000 000

Motor Vehicle Difference in Value R25 000

7. Subject to 24 hour security guarding

at any un occupied Properties during the insurance period.

8. Any Repossessed Property in excess

of R10 000 000 (Buildings and Contents) is excluded, cover have to be arranged separately.

12.House-owners ( IDC staff & Pensioners)

TOTAL ASSETS

COVERS AND SUB LIMITS

R 377 893 560

R 1 800 479 720

9. Computer Losses are Excluded directly or indirectly, arising from incapacity or failure of any computer.

12.1 Subsidence & Landslip R 84 280 368 13. Accidental Damage

14. Reconstruction of Data 15. All Risks (Including Ipads & Cellphones) 16. Theft & Malicious Damage caused by

Thieves 17. Money 18. Personal computer, laptops In Transit

On the insured’s business.

R 5 000 000 R 2 000 000 R 3 000 000 R 1 000 000 R 250 000 R 500 000

5% of claim minimum R500 in respect of Accidental Damage of : Audio Video television, photographic equipment, Two-way Radios, Laptops/Notebooks, Hardware, Computers, I pads, Cell phones.

.

19. Property in Transit 20. Personal Property & Tools of Directors/

Partners/employees whilst on private or the insured’s business.

R 500 000 R 100 000

Accidental Damage: R5 000 in respect of All Other Property

POLICY CLASS



DEDUCTIBLES

REMARKS

21. Glass (Incl. Hired or Leased Buildings) 22. Loss of documents 23. Acts of Authorities 24. Capital Additions 25. Clearance costs – Damage or no damage to

Property insured. 26. Property in Couse of Destruction 27. Professional Fees 28. Destruction of salvage 29. Fire Extinguishing & Prevention expenses 30. Fire protection system upgrading 31. Claims Preparation Cost

R 275 000 R 1 000 000 R 1 000 000 R 5 000 000 R 5 000 000 R 1 000 000 R 1 000 000 R 1 000 000 R 1 000 000 R 5 000 000 R 1 000 000

5% of claim minimum R500 in respect of Property In Transit on : Audio Video television, photographic equipment, Two-way Radios, Laptops/Notebooks, Hardware, Computers, I pads, Cell phones. Property In Transit: R5 000 but 10% of claim minimum R5 000 in respect of Hi jack in respect of All Other Property. Fire and allied Perils: 5% of claim, minimum R500 in respect of Fire & allied Perils on: Audio Video television, photographic equipment, Two-way Radios, Laptops/Notebooks, Hardware, Computers, I pads, Cell phones. R10 000 combine with Business Interruption in respect of All Other Property. R10 000 in respect of Accidental Damage. R2 500 in respect of Subsidence and Landslip 5% of claim minimum R10 000 in respect of Repossessed Properties.

POLICY CLASS



DEDUCTIBLES

REMARKS

2. BUSINESS INTERRUPTION

1. Gross Rentals Indemnity Period

R 50 000 000 18 Months

Following Material Damage R10 000

. 1. Subsidence and landslip is

excluded

2. Additional Increase in Cost of Working R 30 000 000 2. Average is applicable. 3. Increase in Cost of Working R 1 000 000 EXTENSIONS:

Denial of Access 10kms

Extended Damage – Public Utilities

Fines & Penalties

Maximum Demand Charges

Public Relations Expenses

Professional fees

Municipality Plan Scrutiny Fees

Claims Preparation Costs

R 5 000 000 R 5 000 000 R 1 000 000 R 1 000 000 R 1 000 000 R 1 000 000 R 1 000 000 R 500 000

3. GROUP PERSONAL

ACCIDENT 1. Age limitation : 15 - 70 years

Estimated Total Earnings 1. Death 4.2 x annual salary 2. The following are excluded: - illness/sickness R588 600 000 2. Permanent Disability (Accident) 100% of Death Benefit - suicide or intentional self injury 24 hour cover - aids or aids related viruses CATERGORY A: Insured’s Persons: Chairman / Directors / And all employees of the insured

3. Temporary Total Disability

100% of current weekly earnings for 104 weeks

7 days’ time exclusion on Temporary Total Disability

- pregnancy or childbirth - aviation activities other than

4. Medical Expenses R 300 000 a passenger INSURER: AIG 20% of the Accidental death

benefits. R250 each and every claim in respect of Medical Expenses.

- civil commotion

5. Dread Disease

POLICY CLASS



DEDUCTIBLES

REMARKS

CATERGORY B: 10 x Students

whilst employed by the insured.

1. Death (Accident) 2. Permanent Disability (Accident) 3. Temporary Total Disability

R 50 000 R 50 000

None

- mountaineering, hang gliding, motor cycle riding,

Ballooning - any professional sports

2. Accumulation limit R15 000 000 per person, R50 000 000 any

4. Medical Expenses

R 300 000

R250 in respect of Medical Expenses

conveyance

4. Declaration basis.

5. Dread Disease (Include) 20% of the Accidental Death 5. Aggregate Excess: R450 000 (VAT Excl)

CATERGORY C (Top-up cover) :

Insured Persons 16 x Executive Band and Chairman


4. Medical Expenses

R 500 000

R 500 000

None

None

6. Medical Expenses shall exclude any costs that are recoverable under medical in terms of the Medical Aid Schemes Act. 1998. Cover Include the following:

1. Post Mortem Extension 25% of underlying benefit up to a maximum of R100, 000 – pending Post mortem report..

2. Blood Transfusion up to R100,000 in excess of Medical Aid contribution

5. Dread Disease None

POLICY CLASS



DEDUCTIBLES

REMARKS

CATERGORY D (Top-up cover) : Insured Persons 237 x Management Band and Directors


4. Medical Expenses

R 400 000

R 400 000

None

None

5. Dread Disease None

CATERGORY E: Insured Persons

Unnamed Pilot and Hostess Cover Estimated on : 60 Days

1 . Death (Accident) 2. Permanent Disability (Accident) 3. Temporary Total Disability 4. Medical Expenses 5. Dread Disease

R 1 000 000 (Pilot)

R 500 000 (Hostess)

R 1 000 000 (Pilot

R 500 000 (Hostess)

None

None

None

4. MOTOR FLEET LION – 100%

1. COMPREHENSIVE The Cover is for Both IDC Pool Cars, Staff members/ IDC Pensioners. Hired in Vehicles subject to declaration

Vehicles Valued up to R150 000 Annual Aggregate = R 11 500 000 i. Private type motor cars and minibuses seating Number of Units 1274 1st Claim: R1000 (VAT Excl.) up to 16 persons 2nd Claim: R 1500 ii. Commercial Vehicles as follows :

3rd and Subsequent claims: R3 000

POLICY CLASS



DEDUCTIBLES

REMARKS

(a) LDV's Number of Units 111 Self-Authorisation Amount = R3 000 (exclusive of VAT)

1st Claim : R1 500 2nd Claim : R2 000

Basis of Settlement: New for old Constructive Total Loss

(b) Trucks

Number of Units 0 3rd and subsequent claims: R3 500

Credit Shortfall

Stopper = R250 000 (VAT Excl.) iii. Motor Bike/Cycles Number of Units 34 Policy No:

R250 each and every loss in respect

iv. Trailers Number of Units 52 of loss of keys COM/SCN/00004464012P vi. Special type vehicles i.e. Caravans, etc. Number of Units 18 Windscreens:25% of claim

minimum 1. Car Hire in the event of a claim is

vii. Hired in Vehicles during the period Est. Number of units 280 R250 Included for 30 days.

TOTAL 1769

LIABILITIES: Any other liabilities and Aggregate any one occurrence Fire / Explosion Passenger Liability

R 5 000 000 R 5 000 000 R 5 000 000

Radios Sound: 15% of claim minimum R300

2. Roadside Assistance on Private and Commercial vehicles only - -Run out of Fuel - Flat Tyre /Flat Battery - Mechanical / Electrical Breakdown

3. ADDITIONAL CONTINGENCIES –

( VAT Excl.) - Breakdown outside

the radius of 100km From home(per incident) courtesy car 2.1 Emergency Charges

R 50 000

Or hotel accommodation or car rental and safe storage all limited to R500 .

2.2 Search & Recovery Charges 2.3 Breakdown Tow - In

R 10 000 R 2 500

Theft/Hi- Jacking: 5% of claim minimum R2 500 ( for vehicles valued over R250 000: refer to General Condition 13 – VSS)

2.4 Emergency Travel Costs R 5 000 2.5 Loss of Keys R 10 000 2.6 Radios and Telephones (excluding cellular

phones) Unlimited subject to the adequacy of anyone vehicle limit

2.5 Claims Preparation Costs R 100 000

POLICY CLASS



DEDUCTIBLES

REMARKS

5. PUBLIC LIABILITY

1. General & Tenants/Property owners

Liability

R 200 000 000

R10 000 each and every loss

Basis Of Cover: Claims Made

Retro – Active Dates 2. Spread Of Fire R 145 000 000 R2 500 000 each and every loss

in 3. The following is excluded:

Respect of spread of fire 01/07/1989 in respect of all others. 3. Employers Liability R 150 000 000 NIL 01/04/2011 in respect of R150 000 4. Products liability and defective workmanship R 145 000 000

R10 000

000 limit (SAPPI Forest included in In General Liability but deductible in

5. Motor Third Party Liability (Excess of Loss)

R 145 000 000

R5 000 000

Respect of Spread of Fire is R2 500 000). 6. Statutory Legal Defence Costs R 150 000 000 R 2 500

7. Wrongful Arrest/ Dismissal/ Defamation

R 150 000 000 R 2 500

8. Contractors Liability

R 149 000 000

R 1 000 000

- liability to any person employed or under contract of service

9. General Liability Iro Child Development

Consulting cc (Crèche at IDC H/O)

R 149 000 000

R 20 000

10. General Liability iro Gymnasium Management Services cc (Gym at IDC Premises) & IDC

Canteen

R 149 000 000

R1 000 000

- damage to property

11. House Owners Liability to Third Party R 149 000 000 R5 000 000 belonging to or in the custody or control of

12. General Liability iro African Chrome (Pty) Ltd - Brits

R 145 000 000 R5 000 000 the IDC

- liability in connection with

13. General Liability iro Khindlimuka Co-operatives - Limpopo Province 14. Claims Preparation Costs

R 145 000 000 R 1 000 0000

R5 000 000 professional advice or treatment. - liability assumed by agreement

Retro – Active Date: 4. Management Liability is - 01/071999 in respect of R 100 000 000 Excluded. - 23/03/2005 in respect of

- 01/04/2010 in respect of R 150 000 000 R 200 000 000

Exclusions: - Misconduct

- Prior Claims and circumstances

POLICY CLASS



DEDUCTIBLES

REMARKS

New Subsidiary Cover: 25% of consolidated asset value as stated in the latest audited annual financial statements, but nil for North American acquisitions/Operations. Non -Executive Protection: R2,5m per director but sub-limited to R20m in the

annual aggregate

- Bodily injury and Property damage

- US claims brought by insureds

- Professional services - Madoff Exclusion

(Investments) - Trustee Exclusion - Economic Sanctions - Secondary offering/prospectus

exclusion – all securities

6. EMPLOYMENT PRACTISES LIABILITY Insurer: AIG 100% Policy: 01CML522311

1. Limit of Indemnity (Aggregate) Retro – Active Date: 01 April 2012

R 20 000 000

R 50 000

Cover Include:

- Unfair dismissal - Failure to employ or to

promote - Sexual harassment in

workplace - Wrongful infliction of

emotional distress - Discrimination etc.

Exclusions:

- War and Terrorism - North American exclusion - Any dishonest or fraudulent

act - Breach of any legislation

contained in the Labour Relations Act1995.

Endorsements:.

1. Prior and pending litigation: 01 April 2012

2. No Liability retention waiver

deleted 3. Economic Sanctions

Endorsement

POLICY CLASS



DEDUCTIBLES

REMARKS

7. TRUSTEES LIABILITY Retro Active Date: 12 April 2012 Insurer: Camargue 100%

1. Limit of Indemnity

Extensions & Endorsement Applicable:

Reinstatement Option

Claims Preparation Cost 2% of the Limit

Cost of Recovery 3% of Limit

Cost of Reinstating office records 2% of the limit of Indemnity Retro Active Date: 12 April 2012 01 April 2013 01 April 2014

R 50 000 000 R 30 000 000 R 40 000 000 R 50 000 000

Nil

ADDITIONAL EXTENTIONS/EXCLUSIONS SEVERAL LIABILITY CLAUSE PLEASE NOTE - This notice contains important information:- The liability of an insurer under this contract is several and not joint with any other insurers party to this contract. An insurer is liable only for the proportion of liability it has underwritten. An insurer is not jointly liable for the proportion of liability underwritten by any other insurer. Nor is an insurer otherwise responsible for any liability of any other insurer that may underwrite this contract.

POLICY CLASS



DEDUCTIBLES

REMARKS

8. BANKERS BLANKET BOND Insurers: AIG - 50% SHA - 50% Retro- Active Dates:

- 01/07/2001 In respect of Treasury Operations

- 01/07/1993 in all other IDC activities

- 01/07/2004 in respect of Professional Indemnity

- 01/04/2011 in respect of R100m Limit

A. Banker Blanket Bond

B. Electronic & Computer Crime

C. Professional Indemnity Extensions included in the Indemnity Limit of All Sections :

1. Claims Preparation Costs 2. Auditors’ Fee 3. Legal Fees 4. Cost of Reinstating Data

Endorsements Applicable to All Sections:

1. Economic Sanctions 2. Aggregate limit 3. No Innocent Non-Disclosure 4. Tie in of Limits 5. No Reinstatement of the Indemnity

R 200 000 000 (In respect of all divisions) and R 200 000 000 ( Treasury Operations) Included Included Included Included Included Included

R 2 500 000 each and every loss R50 000 R50 000 R50 000 R50 000

Cover as financial loss sustained by the insured as a result of:

- Employee Dishonesty - Loss Within the Premises - Loss whilst in Transit - Forged Cheques - Forged Securities

Exclusions In respective to

BBB/ Computer rime / Professional

Indemnity

1. Bills of Lading 2. Money Laundering 3. Fees exclusion under (P I) 4. Market Fluctuation

5. Investment Banking 6. Mechanical Breakdown 7. Madoff/Stanford /

Subprime exclusion/ Algosaibi Exclusions

Retroactive Date: - Per expiry but

inception with AIG /SHA for

Increased Limits.

POLICY CLASS



DEDUCTIBLES

REMARKS

9. GROUP GUARD- TRAVEL

(International Travel)

POLICY: 01 WBC 529049

SECTIONS INSURED 1. Emergency Medical and Related Illness or Injury Sub – limit Non scheduled flights 2 .Pre-existing Emergency medical / Related Expenses, 3. Follow up Treatment in South Africa 4. Personal Accident ( Death & Disability) Sub Limit Non schedule flights 5. Travel Guard Benefit as listed on schedule of benefits. 6. International Journey Cancellation or Curtailment, ( Excess payable R500).

7. Baggage, Trade samples, personal effects, Travel documents, Money/ Credit cards & Baggage delay. Theft or Damage of Baggage ( Single item limit R10 000) (Excess -R500 )

- Accidental Loss of Baggage (Excess R500) - Theft of money / credit card ( Excess R500) 8. Travel Delay (Excess 4 hours) 9. Missed connections – (Excess R250)

10. Hijack, Hostage or wrongful Detention (Excess 12 Hours)) 11. Personal Liability (Excess R1 000) 12. luggage, cash ,Travel documents (limit R5 000) ( single item limit of 30% sum insured and mobile phone R750, sunglasses etc, single item limited to R500 13. Ticket Upgrade (Excess 6 Hours) 14. Natural Disaster cover (cost to provide similar accommodation)

R Unlimited R 500 000 R 10 000 000 R 50 000 R 1 000 000 R 500 000 R R 50 000 R 80 000 R 5 000 R 5 000 R 2 500 R 5 000 R 50 000 R 5 000 000 R 5 000 R 1 500 000

Out or In patient : Nil 48 Hours Nil 6 Hours Nil Nil Nil Nil Nil Nil 6 Hours Nil Nil Nil

Cover extended to include Accompanying Spouses of employees and their Minor Children. General Exclusions:

Participating in Motor Cycling as a driver or passenger on motor cycle with an engine capacity of 200cc or less.

Participation in underwater diving unless you hold a valid diving certificate or diving under supervision.

Participating in any Hazardous of professional sport or activity.

Financial loss, loss of enjoyment.

Travelling against medical advice or travelling with intention of obtaining medical treatment abroad etc. Please refer to the policy wording for the rest of exclusions and policy conditions.

Sexual transmitted diseases

Acting as part of an aircraft crew

POLICY CLASS



DEDUCTIBLES

REMARKS

10. COMPOSURE (EXTORTION)

1. Ransom – (per insured event)

R 25 000 000

Nil

1. Not on declaration basis Flat Rate was charged

2. Ransom in Transit (per insured event) R 25 000 000 Policy No. GR14/972/662/17 3. ATM Hold -Up R 50 000

R 200 000 in the annual aggregate

Kidnap For Ransom 24/7 Emergency Number: +44 (0) 207 240 3237

4. Response Consultants fees and Expenses

5 Additional Expenses:

Sub- Limit : independent psychiatric care fees , trauma counselling and medical care as a result of ATM Hold –UP or Hijack

Sub – Limit in respect of rest and rehabilitation.

6 Personal Accident: where event is Kidnap

Detention or Extortion

7 Personal Accident: where event is ATM Hold-Up

or Hijack

8 Legal Liability

Unlimited per Insured Event R 25 000 000 per Insured event R 50 000 per insured event and R 200 000 000 in the annual aggregate R 250 000 per insured event R 2 000 000 per Insured event R10 000 000 in the annual aggregate R 100 000 per insured Person R25 000 000 per insured event

Nil

Optional Extensions Not Included:

- Computer Virus, Business Interruption; Loss of Earnings; Products Recall and Destruction Loss; Emergency Political, Repatriation.

- Disappearance (investigation & Expenses)

POLICY CLASS



DEDUCTIBLES

REMARKS

11. CONTRACTORS ALL RISKS

Estimated Annual CAPEX

R8 000 000

Insurer: Consort Technical Underwriters

a) Contract Works: 1. Maximum Contract Value

2. Maximum contract Period

3. Maintenance Period

4. Costs & Expenses (Indemnifiable Loss)

5. Costs & Expenses (No Loss or Damage)

6. Surrounding Property

7. Escalation

8. Off-Site Storage

Extensions Included:

Testing period

Transit

Fire Brigade/ Public Authority

Work Away / Manufacturing Premises

Claims Preparation Costs

Removal to Gain access

b) Public liability Limit

1. Statutory Legal Defence Costs

2. Arrest/ Assault / Defamation

3. Emergency Medical expenses

4. Trespassing

R 350 000 12 Months 12 Months R 250 000 R 250 000 R 1 000 000 20% R 50 000 60 days R 250 000 R 100 000 R 100 000 R 50 000 R 25 000 R 1 000 000 R 200 000 R 50 000 R 50 000 R 50 000

Major Perils: In respect of :

Storm, subsidence, Collapse, Fire and Water - R10 000.00

Malicious Damage / Theft – R10 000

Testing, Commisioning, / Maintenance – R10 000

Minor Perils: R5 000 in respect of all other Losses R10 000 in respect of Surrounding property Public Liability R 10 000 in respect of Loss or damage to Public Utilities. R5 000 in respect of All other property Loss or damage

POLICY CLASS



DEDUCTIBLES

REMARKS

12. CYBER LIABILITY & DATA

PROTECTION.

Policy No: 01CYB529082

Limit Of Liability in Aggregate:

1. Data Liability

2. Data Administrative Procedures

3. Repair of Reputation Aggregate Sub – Limits: Data Administration Investigations Data Administration Fines Repair of the Company’s Reputation Repair of the Individual’s Reputation Notification & Monitoring Costs Restoring, recreating, or recollecting Electronic Data Additional Extensions Sublimit Included:

Media Content

Cyber Extortion

Network Interruption

R 50 000 000 R 25 000 000 R 25 000 000 R 25 000 000 R 25 000 000 R 25 000 000 R 25 000 000 R 25 000 000 R 25 000 000 R 25 000 000

Claims Made Basis Exclusions:

- Antitrust - Bodily Injury & Property - Contractual liability - Cyber – terrorism - Employers Duties - Breach of Intellectual

property including patents and trade secrets.

- Intentional Act - Misdeeds - Securities Claims - Terrorism / War - Trading losses - Prior claims and

Circumstances - USA /Canada - Data Security “ Cover

Conduct

General policy Retention R 1 500 000

13. SASRIA (RIOT AND

STRIKE AND Assets All Risks )

) 1. Damages exceeding

R1500 000 000 any one loss will POLITICAL RIOT) Business All Risk – Working Expense –

12 Months Indemnity ) not be covered.

NON-MOTOR ) Nil 2. Consequential losses are Fire – Domestic ( House owners) ) Excluded. 3. Confiscation, commandeering

POLICY CLASS



DEDUCTIBLES

REMARKS

Money ) or requisition by lawfully constituted authority is excl. Property in Transit ) ) As per the Underlying Contractors All Risk ) Policy ) Claims Preparation Costs

Professional Fees

) ) ) )

14. SASRIA Motor Fleet 1769 Units Market Value No deductibles applicable. MOTOR

industrial development corporation risk …

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