General Conditions
MULTI RISK
INDUSTRY
PRELIMINARY ARTICLE
This insurance contract for Multi-Risk
Industry is hereby established between
NOSSA – NOVA SOCIEDADE DE
SEGUROS DE ANGOLA, S.A., hereinafter
referred to as the Insurer, and the Policyholder
identified in the Specific Conditions. The
contract conforms to what is laid down in the
General, Special and Specific Conditions of
this Policy, in agreement with the statements
made in the proposal that served as the basis
and of which it is an integral part.
CHAPTER I
DEFINITIONS
CONTRACT
AND
OBJECT
underwritten by the Policyholder or by the
Insured Person if a different person, and the
General, Special, if there are any, and Specific
Conditions agreed;
Additional Amendment - A document that
authorises a change made to a Policy and
which forms an integral part of it;
Capital Insured – Also referred to as insured
value or limit of indemnity, is the value
attributed by the Policyholder to the items
covered by this contract, and which constitutes
the maximum limit of the Insurer’s liability in
the case of indemnity;
OF
ARTICLE 1 – DEFINITIONS
For the purpose of this contract the following
are taken to mean:
Insurer: The agent legally authorised to sell
the Multi-Risk Industry insurance, and who,
with the Policyholder, underwrites this
contract.
Policyholder: The person or entity that signs
the insurance contract with the Insurer, and
who is responsible for paying the premiums;
The Insured Person: The person or entity
with an interest in insuring the items covered
by this contract or in whose interest the
contract is signed and who is identified in the
Specific Conditions.
Items Insured: Also referred to as Insured
Assets, are the movable and/or immovable
assets guaranteed by this contract and that are
indicated in the Specific Conditions of the
Policy;
General Conditions – All the clauses that
define and regulate the general and joint
obligations inherent in the sector or type of
insurance;
Special Conditions – Clauses that clarify,
complete or specify provisions in the General
Conditions;
Specific Conditions – The document showing
the specific and individual items of the
contract, and that distinguish it from all others;
Policy: The document that authorises the
contract signed between the Policyholder and
the
Insurer,
including
the
proposal
Accident – Any sudden, unforeseen fortuitous
event likely to bring the guarantees of the
contract into action;
Deductible – The amount that in the case of
making a claim is the responsibility of the
Insured person, and the amount of which, or
way in which it is calculated, is stipulated in
the Specific Conditions;
Salvage – Insured Items that are damaged as a
result of an accident and the value of which
can be deducted in the indemnity to which the
Insured Person has a right;
Total Premium - Price paid by the
Policyholder to the Insurer for contracting the
policy;
Return - Part of the insurance premium
already paid returned to the Policyholder.
ARTICLE 2 – OBJECT OF CONTRACT
1. The object of this contract is to guarantee
to the Insured Person, up to the limit
established in the Specific Conditions and
in the terms of the contract, the
indemnities due to damages suffered by
the items insured and that are listed in the
Specific Conditions.
2. Other items or values may also be the
object of this contract, providing that for
the purpose they are declared in the
General
Conditions
or
expressly
described in the Specific Conditions.
3. The obligation to attach a value to the
items described, tolerance limits and the
conditions in which the items insured by
this contract exist and function, are also
subject to the stipulations, for the
respective purpose, in the Specific and
Special Conditions.
CHAPTER II
GUARANTEES AND EXCLUSIONS OF
CONTRACT, SCOPE AND DEFINITION
AND LIMITS TO INSURANCE COVER
ARTICLE – 3 BASIC COVER
Under the scope of Basic Cover and in the
terms of the stipulations in these General
Conditions, this contract guarantees damages
directly caused to the insured items, identified
in the Specific Conditions, due to the
occurrence of one or any of the following
risks:
1.
2.
3.
4.
5.
6.
7.
Fire, Mechanical Action of Lightning
Strike and Explosion;
Storms;
Floods;
The Fall of Aircraft and Crossing the
Sound Barrier;
Crash or Collision of Land Vehicles
or Animals;
Crash or Collision of Solid Objects;
Accidental Oil Spill.
ARTICLE 4 – ADDITIONAL COVER /
SPECIAL CONDITIONS
Although not included under Basic Cover, on
express agreement in the Specific Conditions
and against payment of the respective extrapremium, other risks and/or other damages
may be covered by this contract, in agreement
with the stipulations in the respective Special
Conditions that have been contracted.
a) Additional cover that may be
contracted could be:
i)
Water damage;
ii)
Theft or Robbery;
iii)
Seismic Phenomena;
iv)
Strikes, Up-risings and
Changes to Public Order;
v)
Acts of Vandalism or
Malicious Acts;
vi)
Landslide;
vii)
Damages to the belongings
of Third Parties;
viii)
Electric Risks;
ix)
Demolition and Removal of
Rubble.
b) When contracted, this cover is subject
to the definition and exclusions in the
Special Conditions applicable to
them, apart from the General
Exclusions provided for in Art. 5;
c) When not contracted, and, as such,
not mentioned in the Specific
Conditions, this cover constitutes
exclusions, and is not covered by the
guarantee of this policy.
ARTICLE 5 – GENERAL EXCLUSIONS
Exclusions common to all Insurance Cover
In no case whatsoever, even if an occurrence is
verified in any risk covered by this policy, are
damages guaranteed that arise directly or
indirectly from:
a) War, declared or not, invasion, an act
by a foreign enemy, hostilities or
warlike operations, civil
war,
insurrection, rebellion or revolution,
as well as risks caused accidentally by
explosive or incendiary devices;
b) Acts of Terrorism, understood to
mean all or any act practised by
persons or group of persons, acting in
isolation or on behalf of, or in league
with, any organisations, authorities or
governments, with political, religious,
ideological or ethnic motives and/or
with the intention to influence the
authorities or governments and/or
cause panic and/or fear in the
population as a whole or in specific
groups, whatever the form or level of
violence and/or threat used, and
whatever the means used to
implement this violence or threat;
c) Acts of sabotage, understood to mean
an act of destruction that impedes or
diverts from normal purposes,
definitively or temporarily, totally or
partially, means and routes of
communication,
public
service
installations or those destined to
supply and meet the vital needs of the
population, with the intention to
destroy, alter or subvert the State
under
Law
constitutionally
established,
practised
by
any
individual or group of individuals;
d) Military up-rising or act of legitimate
or usurped power;
e) Confiscation, requisition, destruction
or damages produced to the items
insured, at the orders of the
Government, of fact or law, or any
other installed authority, except in the
case of the removals or destruction
provided for in item 1.1. of Art. 6;
f) Explosion, release of heat and
irradiation coming from the fission of
atoms or radioactive substances as
well risks arising from radiation
caused by the artificial acceleration of
particles;
g) Acts or omissions of ill-intent
practised by the Policyholder, the
Insured Person or persons for whom
they are legally liable;
h) Misplacement, theft or robbery of the
items insured, when practised during,
or as a result of, any accident covered
by this contract;
i) Any
type
of
pollution
or
contamination;
j) Consequential claims, such as, loss of
earnings or income, with the
exception of those mentioned
expressly in the Specific Conditions
of this contract;
k) Estimated value or depreciation of a
collection if it loses an item belonging
to it;
l) Also excluded, whatever the cause
that determines them, unless arising
from a direct material damage
covered by this policy, are damages
caused to parts, programs, systems or
processed data, namely:
- Loss, alteration or damage to
data,
records,
information,
programs and in general to any
systems or components usually
referred to as software;
- Loss, reduction or modification
to the functionality, availability
or operational performance of
computers, “chips”, programs
and/or data processing systems;
- All or any interruption or
allocation of an activity arising
from the situations provide for in
the above sub-paragraphs.
ARTICLE 6 – SCOPE, DEFINITION AND
LIMIT OF INSURANCE COVER
The risks guaranteed by Basic Cover have the
following scope, definition and limits:
1.
Fire, Mechanical Action of
Lightning Strike and Explosion
Guaranteeing the damages caused to the items
insured as a result of fire or the means used to
fight it, heat, smoke or vapour resulting
immediately from fire, mechanical action of
lightning strike and explosion, as well as the
removal or destruction carried out at the orders
of the competent authority or carried out as
required for salvage, if due to any of the facts
provided above.
1.1. For the purpose of the guarantee of
this risk, the following are taken to
mean:
a) Fire – Accidental combustion,
developing flames not found in a
normal source of fire, although
originating in this combustion, and
that is capable of propagating by its
own means;
b) Mechanical Action of Lightning
Strike – Atmospheric discharge
occurring between cloud and earth,
consisting of one or more shocks of
current that give the phenomenon a
characteristic light (stroke) and that
causes permanent mechanical
deformation to the items insured;
c) Explosion – Sudden, violent action
caused by the pressure or depression
of gas or steam.
1.2. Unless the respective optional cover
has been expressly contracted, the
following damages are not covered:
a) Those arising directly or
indirectly from fire caused by
Seismic Phenomena;
b) Those caused by Electric Risks,
namely damages caused by the
direct effect of electric current in
apparatus, electrical installations
and their accessories, namely
overloading, including that
produced by atmospheric
electricity, such as that resulting
from lightning and short circuit,
even if fire is produced in these.
1.3. The exclusions provided in Art. 5 are
applicable.
2. Storms
Guaranteeing damages caused to the insured
items as a result of:
2.1. Typhoons, cyclones, tornedos and
any direct action from strong winds
or objects thrown or projected by
them (whenever their violence
destroys or damages several wellconstructed buildings, objects or
trees within a radius of 5 Kms of the
insured items);
Well-constructed buildings are those
whose structure, outside walls and
roof are built according to building
standards in force on the date of
construction, using materials
resistant to wind, namely reinforced
concrete, brickwork and ceramic
tiling.
2.2. Flooding due to rainfall, snow or
hailstones, when these atmospheric
agents penetrate to the interior of the
building as a result of damages
caused by the risks referred to in 2.1,
and providing the damages are
verified within the 48 hours
following the time when the insured
objects suffer the initial damage.
2.3. The damages caused within 48 hours
following the time when the insured
objects suffer the initial damage are
considered to constitute one and the
same claim.
2.4. Apart from the exclusions provided
in Art. 5, the following damages are
not guaranteed:
a) Caused by the action of the sea,
whatever their nature, even if
these events result from storm;
b) In constructions recognised to be
weak, and also buildings that are
in a recognised state of
deterioration at the time of the
occurrence, including any objects
that are found in the same
buildings or constructions.
Construction is considered to be
recognised as weak in buildings
whose structure, exterior walls
and roofs are constructed in
materials that are not resistant to
wind, that is reinforced concrete,
bricks and mortar and ceramic
tiling;
c) In movable objects found
outdoors;
d) In protective devices such as
doors, blinds, canopies, outside
shutters, which, however, are
covered if accompanied by total
or partial destruction where the
insured items are found;
e) Walls and fences, when their
construction does not comply
with adequate technical
standards;
f) Caused by the entry of rain
water, through roofs, doors,
windows, skylights, terraces and
covered balconies,
notwithstanding the stipulation in
item 2.2, and also the flow of
water coming from pipes or
drains not belonging to the
building;
g) Caused by infiltration through
walls and/or ceilings, moisture
and/or condensation, except
when dealing with damages
caused by the risks of Storms or
Flood.
3. Floods
Guaranteeing the damages caused to the items
insured as a result of:
3.1. Downpour of water or torrential
rainfall – precipitation of an intensity
3.2.
3.3.
3.4.
3.5.
over 10mm in 10 mins, on the rain
gauge;
Burst pipelines, collector pipes,
drains, dykes or dams;
Flooding or overflow of natural or
artificial water ways;
The damages caused within 48 hours
following the time when the insured
objects suffer the initial damage are
considered to constitute one and the
same claim.
The exclusions provided in item 2.4
of number 2, of this Article, apply to
the risk of flooding.
1.
Fall of aircraft and crossing the sound
barrier
Guarantees the damages caused to items
insured as a result of crash or fall of all or part
of the aircraft and space craft or objects falling
from them or jettisoned, as well as vibration or
‘crack’ resulting from these craft crossing the
sound barrier.
2.
Collision impact from land vehicles or
animals
Guarantees the damages caused to insured
items as a result of collision or impact with
land vehicles or animals whenever the same
are not being driven by the Insured Person, for
whom the latter is legally liable or even for
one of his employees.
2.1. Any damages caused to vehicles are not
guaranteed.
3. Collision or impact with solid objects
Guarantees the damages caused to the insured
items as a result of collision or impact with
solid objects coming from outside.
4. Accidental oil spill
Guarantees the damages caused to insured
items as a result of accidental oil spill
contained in any fixed or portable installation
for room heating, but always with the
exception of damages suffered by the actual
installation and its content.
CHAPTER III
FORMATION, START, DURATION,
REDUCTION, TERMINATION AND
ANNULMENT OF CONTRACT AND
TRANSFER OF RIGHTS
ARTICLE 7 – FORMATION AND START
OF CONTRACT
1.
This contract is based on declarations
made in the respective insurance
2.
3.
4.
proposal and those that have been
made during the time it has been in
force, which should mention
truthfully all the facts and
circumstances required for an exact
assessment of the risk, or that may
have an effect on acceptance of the
same contract or on the correct
determination of the premium
applicable.
Designation of the items insured and
the amounts indicated by the
Policyholder or the Insured Person,
do not imply that the Insurer will
recognize their existence or the value
attributed to them, even if expressed
in the Specific Conditions.
Providing the premium or the initial
instalment has been paid, this contract
takes effect from zero hours on the
day following acceptance of the
proposal by the Insurer, unless in the
proposal a late start date is indicated.
If within 15 days, counting from the
date on which the proposal is
received, the Insurer has not notified
the Policyholder and/or the Insured
Person, by registered mail or by any
other means with written proof, of its
refusal or the need to get information
essential to assessing the risk, the
proposal is considered approved in
the terms of the previous number.
ARTICLE 8 – DURATION OF
CONTRACT
1. This contract is signed for the period
of time established in the Specific
Conditions.
2. When the contract is signed for a
specific period of time, it ceases to
have effect at 24 hours on the last day
3. When the contract is signed for one
year continued into following years, it
is renewed successively for annual
periods, unless either of the parties
rescinds the contract by registered
mail, or by any other means with
written registration, a minimum of 30
days before the end of the annual
period.
ARTICLE 9 – REDUCTION AND
TERMINATION OF CONTRACT
1. Either the Policyholder or the Insurer may
at any time reduce or terminate this
contract, by registered letter, or by any
other means with written registration, to the
other party, at least 30 days from the date
2.
3.
4.
5.
6.
7.
on which the reduction or termination takes
effect.
If the contract is reduced or terminated, the
amount of the premium to be returned
corresponding to the period initially
contracted and not yet elapsed will be, after
deduction of the instalments already paid,
75% or 50% depending on whether the
initiative to terminate lies with the Insurer
or the Policyholder, respectively.
Reduction or termination of the contract
takes effect at 24 hours on the actual day
on which they take place.
Should the contract be dissolved, in the
case of an accident in which the insured
capital is reduced and not replaced, the
premium to be returned, calculated in the
terms of the previous numbers, should
apply only to the capital so reduced.
The stipulation in n° 7 of Art 16 applies to
termination of the contract due to a failure
to pay the premium.
Whenever the Policyholder is not the same
as the Insured Person identified in the
Specific Conditions, the latter should be
notified, a minimum of 15 days prior to
termination or renewal of the contract.
If there is creditor preference over the
assets that are the object of the contract, the
Insured undertakes to notify in writing the
creditor declared in the Specific
Conditions, of the reduction or termination
of the contract a minimum of 15 days prior
to the date on which this takes effect.
ARTICLE 10 – NULLITY OF
CONTRACT
1.
2.
This contract is considered null and
void and, consequently, has no effect
in the case of accident, when either
the Policyholder or the Insured
Person
have
made
incorrect
declarations as well failing to reveal
facts or circumstances known to them
and which could have an effect on the
existence or conditions of the
contract, namely accepting the
contract, maintaining it or renewing
the contract by the Insurer.
If such declarations or failure to
reveal information has been done in
bad faith, the Insurer has the right to
the premium, notwithstanding the
contract becoming null and void in
the terms of the previous number, as
well as to reimbursement of amounts
paid in indemnities settled in the
meantime.
ARTICLE 11 – TRANSFER OF RIGHTS
1.
Should the items insured be sold or
conveyed, the Policyholder and/or the
Insured Person must, in due time, and
by registered letter or any other
means with written proof, notify the
Insurer of this fact. In these cases the
contract is considered dissolved,
unless previously the conveyor
expresses the intention to cede his
position on the contract to the
receiver of the insured item and the
latter expresses, in writing, an
intention to maintain the contract.
2. When notification is given of the
request to cede the contractual
position, the Insurer must, within 15
days counting from receipt of this
notification, decide to:
a) Terminate the contract, notifying the
Policyholder and/or the Insured
Person, by registered letter or by any
other means for which there is written
proof;
b) Maintain the contract under the same
or new conditions, of which the
receiver or purchaser of the item
insured must be notified, and who
then have 15 days counting from
notification from the Insurer to decide
whether to terminate the contract.
3. If the contract is terminated, the
amount of the premium to be returned
is calculated in the terms of the
stipulation in n° 2 of Art. 9.
4. If ownership of the items insured is
conveyed due to the death of the
Insured Person, the liability of the
Insurer lies with the heirs, during
such time as they pay the respective
premiums and assume all the
contractual obligations established.
5. Should the Insured Person fall into
bankruptcy or insolvency, the liability
of the Insurer lies with the respective
value of the bankruptcy, in the same
conditions, for a period of 60 days.
Once this period has elapsed, the
guarantee of this insurance contract
ceases, unless the Insurer, in an
additional
deed,
accepts
the
respective amendment.
CHAPTER IV
CHANGE OF RISK, INSURED CAPITAL,
INSUFFICIENCY OR EXCESS OF
CAPITAL AND COEXISTENCE OF
CONTRACTS
ARTICLE 12 – CHANGE OF RISK
1.
During such time as the contract is in
force, the Insured Person undertakes
to notify the Insurer, by registered
letter, or by any other means with
written proof, of all facts and
circumstances likely to determine a
change to the risk, in the 8 days after
learning about this.
2. If the facts and circumstances notified
to the Insurer:
a) Determine an increase in risk, the
Insurer has 8 days, counting from the
date of receipt of the notification, to
suggest to the Policyholder the new
condition in force or to notify the
same, by registered letter or by any
other means with written proof, and
giving notification 30 days prior to
the date on which it will take effect,
that the contract is cancelled;
b) Determine a reduction in risk and are
such that more beneficial conditions
can be established for the
Policyholder, the Insurer has 8 days,
counting from the date of receipt of
the notification, to suggest new
conditions for the contract.
3.
4.
5.
6.
The Policyholder also has a period of
8 days counting from the date of
receiving notification from the
Insurer, to rescind the contract,
should the Policyholder not accept the
conditions proposed.
The changes are considered tacitly
approved should one of the parties
say nothing to the contrary within the
deadlines provided in this article.
Should the Insured Person or the
Insurer decide to terminate the
contract, the return of the premium is
calculated in the terms of the
stipulation in n° 2 of Art. 9,
depending on whether the Insurer or
the Insured Person took the initiative
to terminate.
Failure to give notification of any
increase in risk, or if, between this
date of notification and the date of
modifying the contract or terminating
it, an accident should occur, the
contract takes effect, but the
indemnity is reduced in proportion to
the difference between the premium
charged by the Insurer, and that
which would be charged for the
increased risk, notwithstanding the
stipulation in the following number.
7.
If the Policyholder or the Insured
Person, intentionally, fail to notify the
Insurer of an increase in risk, or if
their omissions or false statements
could have an influence on
maintaining the contract, this is
automatically terminated, with effect,
respectively, from the date on which
the Insurer should have been notified,
or on that on which false statements
were made, and there will be no
premium returned.
ARTICLE 13 – CAPITAL INSURED
Determining the capital insured, that is, the
value of the items that are the object of this
contract, is always the responsibility of the
Policyholder and/or the Insured Person and
should comply, both on the date of signing this
contract, as well as throughout the time it is in
force, with the following criteria:
a) Property Insurance – The capital
insured should correspond to the
market price of the respective
reconstruction, bearing in mind the
type of construction or other factors
that could affect this price, or the land
registry value in the case of buildings
for expropriation or demolition. With
the exception of the value of land, all
that is part of or incorporated in the
property should be taken into
consideration in determining that
capital, as well as the proportional
value of the common parts when
apartments are insured if the building
is divided in such a way;
b) Insurance of Goods – The capital
insured should correspond to the
current purchase price for the Insured
Person or, in the case of products
produced by the latter, to the value of
the manufactured materials and/or
those incorporated, with production
costs added;
c) Insurance for Furnishings or
Equipment – The capital insured
should correspond to the cost of
replacing the items, at their new
value, less depreciation inherent in
their use and state;
d) Other capital – For the cover in the
Special Conditions contracted and for
which the capital of the contract is not
applicable, as defined in the previous
numbers, capital insured is taken to
be the values referred to in the
Specific Conditions, unless a different
calculation has been determined in
the respective Special Condition.
ARTICLE 14 – INSUFFICIENCY OR
EXCESS OF CAPITAL
1.
If, at the time of the accident, the
capital insured by this contract does
not coincide with the value of the
items insured, determined in the terms
of Art. 13, the following rules are
applied:
a) Should the capital insured be less than
the value of the insured assets, the
Insured Person will pay the
proportional part of the damages, as if
he were the insurer of the excess,
notwithstanding the Agreed Review
of Capital, when this has been
contracted;
b) Should the capital insured exceed the
value of the items insured, the Insurer
pays the indemnity for the damages
actually caused, up to the limit if the
item or interest insured.
2.
If the object of this contract is made
up of several insured items, duly
itemised with values and quantities
designated separately, the principles
in the previous number are applied to
each of them, as if they were separate
insurance contracts.
ARTICLE 15 – COEXISTENCE OF
CONTRACTS
1.
2.
The Policyholder and/or the Insured
Person undertake to notify the
Insurer, at the risk of becoming liable
for losses and damages, of the
existence of other insurance with the
same object and guarantee.
If at the time of the accident there is
more than one insurance contract,
with the same object and cover, this
policy functions only should pervious
insurance not exist, be null and void,
ineffective or insufficient.
CHAPTER V
PREMIUMS
ARTICLE 16 – PAYMENT OF
PREMIUMS
1.
The premium, or the initial
instalment, is due on the date on
which the contract is signed, so that
2.
3.
4.
5.
6.
7.
8.
9.
the effect of the contract depends on
the respective payment.
Premiums or following instalments
are due on the dates stipulated in the
policy, in which case the scheme
provided in the following numbers is
applicable.
The premiums of policies that are in
force for one year and following may
be paid in instalments, when this
form of payment is expressly
contracted and notwithstanding the
stipulations in the previous numbers.
The Insurer is bound, up to 30 days
prior to the date on which the
premium or instalment is due, to
notify the Policyholder in writing, of
this date, the amount to be paid and
the form of payment.
Failure to pay the premium or the
instalment on the date indicated
leaves the Policyholder in arrears,
and once 30 days have elapsed after
that date the contract is automatically
terminated, with no possibility of
recovering it.
During the period referred to in n° 5,
the contract remains fully in force.
Whatever the case, the Policyholder
continues to be liable for paying the
premium or instalments still owed,
for the period in which the contract is
in force, to which is added a fine of
50% of the difference between the
premium still owed for the period of
time contracted initially and the
instalments already paid, to which is
added the respective interest in
arrears calculated according to
legislation in force.
The insurance is considered to be in
force whenever the premium has been
paid by the Policyholder to the
Broker during the period indicated in
n° 5 and the receipt has been given to
the Policyholder by the broker with
authority to take payment.
In the case of accident, the Insurer
reserves the right to charge, or
discount from, the indemnity,
payment of premiums that may be
owed and instalments due.
ARTICLE 17 – CHANGE TO PREMIUM
If no change is made to the object or guarantee
of the contract, any change in the premium
may only be made at the time of annual
renewal, notifying the Policyholder a
minimum of 30 days prior to this.
CHAPTER VI
OBLIGATIONS OF THE INSURER, THE
POLICY
HOLDER
AND/OR
THE
PERSON INSURED IN THE CASE OF
ACCIDENT
ARTICLE 18 – THE INSURER’S
OBLIGATIONS IN THE CASE OF
ACCIDENT
Should an accident occur that is covered by
this contract, the Insurer’s obligations are to:
a)
Have the inspection and expert
examination done with the due
promptness and diligence required to
recognise the accident and assess the
damages, at the risk of being liable
for losses and damages;
b) Pay the indemnity whenever the
inspection and expert examination
required to recognise the accident and
assess the amount of the damage have
been concluded, notwithstanding
making payments, whenever it is
recognised that they must be made;
c) Pay the indemnity or repair damages
within 30 days from an examination
of the facts referred to in the previous
number, at the risk of, when this
obligation is not fulfilled for any
unjustified reason or for which the
Insurer is to blame, being in arrears,
which will add interest on arrears at
the legal rate in force to the
indemnity;
d) The intervention of the Insurer in
salvage operations and protection of
items insured does not imply its
recognition of liability to pay any
indemnity covered by the contract.
ARTICLE 19 - OBLIGATIONS OF THE
POLICY HOLDER AND THE INSURED
PERSON IN THE CASE OF ACCIDENT
In the case of accident covered by this
contract, the obligations of the Policyholder
and/or the Insured Person are:
a)
i)
Obligations in which a failure to
comply on the part of the
Policyholder and/or the Insured
Person make them liable for losses
and damages:
To notify the Insurer, as soon as
possible, in writing and within 8 days,
counting from the date of the
occurrence, or the date on which they
became aware of the event. This
notification must contain an
indication of the date and time,
known or presumed cause of the
accident, nature and probable amount
of damages, as well as any other
information required to carefully
describe the occurrence and of which
they are, or should be, aware;
ii) To use all means in their power to
reduce or avoid the consequences of
the accident and salvage items
insured. The costs resulting from
complying with this obligation are the
responsibility of the Insurer,
regardless of the results obtained,
whenever they are not carried out
disproportionately or without due
consideration, and providing that once
added to the indemnity they do not
exceed the limit of capital insured;
iii) Not to remove or alter, or consent to
removal or alteration, of any traces of
the accident, without the prior
agreement of the Insurer;
iv) To provide the Insurer with all the
items of proof requested, as well as all
reports or other documents of interest
in their possession or that they may
acquire, completing in all truth the
documents that for the purpose have
been requested and provided by the
Insurer;
v) To collaborate with the Insurer in
determining the cause of the accident
or in protecting, repairing or selling
the salvage;
vi) To comply with safety regulations
imposed by law, legal regulations or
the clauses of this contract;
vii) To immediately report to the
competent authorities any theft or
robbery of which they are the victims,
providing the Insurer with the
document of proof, as well as taking
all steps to try and discover the
objects removed and the perpetrators
of the crime;
viii) To undertake no obligation to third
parties, namely any payment or offer,
or do anything likely to recognise the
Insurer’s liability without the express
authority of the same;
ix) To inform the Insurer at the time of
making the claim, of the existence of
any other insurance covering the same
items and against the same risks,
relative to each one of which a claim
may be made;
x) Notify the Insurer, within 24
hours, of the recovery of all or part of
the items stolen, when this is the case.
b)
Obligations in which the Policyholder
and/or the Insured Person intentionally
fail to comply, releases the Insurer from
paying the indemnity for which it is
liable:
i)
Intentionally causing the accident;
ii) Voluntarily making the consequences
of the accident worse or intentionally
impeding the salvage of the items
insured;
iii) Removing, concealing, hiding or
selling salvaged items;
iv) Voluntarily impeding or hindering the
actions of the Insurer in determining
the cause and consequences of the
accident;
v) Practising fraud, pretence, making
false statement or any other means if
ill-intent, as well as providing false
documents to justify the claim.
CHAPTER VII
INDEMNITIES
ARTICLE 20 – DETERMINATION OF
DAMAGES
1.
In the case of accident, and despite
the insurance covering third parties,
assessment of the items insured and
the respective damages is done
between the Insured Person and the
Insurer that, for the purpose, observes
exclusively the criteria established in
Art. 13 to determine the capital
insured.
2. If damages occur to buildings, the
following standards will also apply:
a) The Insurer will not pay an indemnity
to the Insured Person for an increase
in the cost of repairs or reconstruction
to buildings insured, as a result of
alteration to alignment or changes to
the characteristics of the building;
b) The Insurer, in the case of
construction on land belonging to
someone else, will pay the indemnity
for the repair or reconstruction of the
building on the same land on which it
stands, paying the works as they are
performed up to the limit of the value
insured.
3. If on the date of the accident the
capital insured is found to be
insufficient or in excess, the
stipulation in Art. 14 applies.
ARTICLE 21 – DEDUCTIBLE
For every accident covered by this contract,
the Insurer deducts from the amount of the
indemnity to be paid, the amount of the
deductible declared in the Specific Conditions.
with the rights provided in the
previous number.
ARTICLE 25 – FORMS OF PAYING THE
INDEMNITY
1.
ARTICLE 22 – ARBITRATION
1.
2.
3.
4.
5.
In any litigation arising under cover
of this policy there may be recourse
to arbitration, in which case each of
the parties appoints an expert-arbiter;
these two experts, if necessary,
appoint a third expert-arbiter, who
will decide on points where there is a
difference of opinion.
Should there be disagreement
regarding the appointment of a third
expert-arbiter, Judge of the District in
which the policy was issued will
make the appointment.
Arbitration will cover only a decision
on values, and does not involve the
Insurer recognising the obligation to
pay an indemnity nor prejudice the
allegation of legal or factual issues
that are not merely value assessment
matters.
The expert-arbiters are dispensed
from court formalities, and the final
assessment may not be criticised by
either of the parties.
Each of the parties will pay the fees
of the respective experts and half of
the fees of the third expert-arbiter if
there is one.
2.
The Insurer reserves the right to pay
the indemnity in cash or,
alternatively, to substitute, replace,
repair or reconstitute the items
insured, destroyed or damaged.
Whenever the Insurer chooses not to
pay the Insured Person in cash, the
latter should, at the risk of being
liable for losses and damages,
collaborate reasonably and abstain
from practising any acts that impede
or hinder unnecessarily the works
required to settle in kind.
ARTICLE 26 – AUTOMATIC
REDUCTION OF CAPITAL INSURED
1.
2.
After the occurrence of an accident,
the capital insured, up to the end of
the yearly period underway, is
automatically reduced by the amount
corresponding to the value of the
indemnity attributed, unless there has
been a return of premium.
However, the Policyholder and/or the
Insured Person may reconstitute the
capital insured, for this period, by
paying the corresponding
complementary premium.
ARTICLE 27 – PAYMENT OF
INDEMNITY TO CREDITORS
ARTICLE 23 – BURDEN OF PROOF
1.
The Insured Person bears the burden of proof
regarding the veracity of the claim and of the
legal interest in the items insured, and the
Insurer may demand of the Insured Person all
appropriate means of proof that can be
acquired.
ARTICLE 24 – INTERVENTION OF
INSURER
1. The Insurer has the facility to have
the removals he deems necessary
done, guard the site of the accident or
the salvage, as well as have them
repaired or sold at the best price, and
at the cost of the legitimate owner.
2. The Policyholder and /or the Insured
Person may not be released from their
obligations, even if the Insurer shows
an intention to act or act in agreement
2.
When the indemnity is paid to
mortgage creditors, those with right
of enforcement, or others on behalf of
whom the insurance contract has been
signed, the Insurer may demand, if it
so decides – even in the case of the
contract having been taken out by
them and to their own benefit -, that
payment is made in the terms that
validly permit the rescission or
exoneration of the debt in that part
relative to the value of the indemnity.
This right does not, however,
constitute for the Insurer an
obligation, nor does it imply for it any
liability.
ARTICLE 28 - SUBROGATION
1. Once the indemnity has been paid, the
Insurer is subrogated up to the
2.
3.
amount of the indemnity, to all the
rights of the Policyholder and/or
Insured Person, against third parties
responsible for the accident, and the
latter undertake to do all that is
necessary to implement these rights.
The Insurer is released from
complying with the payment to which
it is bound, when the Policyholder
and/or the Insured Person, due to in
any merely wrongful act or deed,
prevent the subrogation from being
implemented.
When such an act or omission on the
part of the Policyholder or the Insured
Person is the result of deliberate ill
intent, the Insurer has the right to an
indemnity for losses and damages
suffered.
CHAPTER VIII
FINAL PROVISIONS
ARTICLE 29 – INSPECTION OF SITE OF
RISK
1.
2.
3.
The Insurer may have the items
insured inspected by a representative
with the credentials and authority to
do this, and check whether the
contractual conditions have been
respected, obliging the Insured Person
to provide the information requested.
The unjustified refusal of the Insured
Person or of whoever represents the
same, to permit the right referred to,
give the Insurer the right to cancel the
contract, by giving notification by
registered mail, or by any other
means with written proof, a minimum
of 15 days in advance.
In the circumstances provided for in
the previous number, the Insurer
acquires the right to 50% of the
premium corresponding to the time
that will elapse until the contract is
due.
ARTICLE 30 - INSURANCE OF ITEMS
UNDER RIGHT OF USE
1.
Unless expressly stipulated to the
contrary in the respective Specific
Conditions, the insurance contract for
items encumbered with right of use is
drawn up for the joint benefit of the
owner and the entity with right of use,
although
it
may be
signed
independently by either of them, on
the understanding that throughout the
2.
time it is in force, both interested
parties contribute to payment of the
premium.
In the case of accident, the indemnity
is paid by receipt signed by both.
ARTICLE 31– COMMUNICATION AND
NOTIFICATION
1. Communication
or
notification
between the parties, within the scope
of this insurance contract, only takes
effect if done by registered letter or
by any other means with written
proof, sent to the most recent address
of the Policyholder and/or the Insured
Person, as shown in the contract or to
the Insurer’s head office.
2. However, the Insurer should be
notified of any change in the address
or head office of the Policyholder
and/or the Insured Person, within 30
days following the date on which
these changes are made, by registered
letter or by any other means with
written registration, at the risk of any
communication or notification from
the Insurer being sent to the wrong
address, but one which it holds as
valid and in effect.
3. Communication or notification from
the Insurer provided for in this policy
is considered valid and fully in effect
if sent by registered mail, or by any
other means with written registration,
to the most recent address for the
Policyholder and/or the Insured
Person that appears in the contract, or
of which the Insurer has been notified
in the terms laid down in the previous
number.
ARTICLE 32 – EFFECT IN RELATION
TO THIRD PARTIES
The exceptions, annulments and other
provisions that, in accordance with this
contract or with the law, may be queried by the
Policyholder and/or the Insured Person, may
also be queried by Third Parties that have the
right to benefit from this contract.
ARTICLE 33 – APPLICABLE
LEGISLATION
1.
2.
Any
dispute
involving
the
interpretation of this contract is
resolved according to Angolan law.
Should this contract be lacking in
any way, applicable legislation will
be applied.
ARTICLE 34 – JURISDICTION
Jurisdiction to deal with any claim arising
from this contract lies in the location in which
the policy was issued.