Accounts receivable

Basically, if your accounting/business books are damaged and lost, and you’re unable to trace or determine your outstanding debit balances, we’ve got your back. You’re also covered against the reasonable increased collection costs and expenses that you incur as a result of the loss of damage.

In the event of a valid claim, we’ll pay you the outstanding amount due to you by your customers, as at the last day of the month immediately prior to the loss, reduced by bad debts, debited amounts, abnormal trade conditions, amounts paid to you by customers, reasonable collection costs and expenses and any average that may apply.

Loss or damage to property due to or caused by

• Wear and tear or gradual deterioration.
• Moths or vermin.
• Detention or confiscation by any lawfully constituted authority.
• Detention or confiscation arising from any court order or awarded by any competent legal authority..
• Electrical, electronic or magnetic damage (unless you have duplicates stored at a different premises).
• Fraud or dishonesty by your principal, director, member, partner or employee.