TERMS AND CONDITIONS OF INSURANCE AGAINST BORROWER S UNEMPLOYMENT AND INCAPACITY FOR WORK No. KA 0413

Transcription

1 TERMS AND CONDITIONS OF INSURANCE AGAINST BORROWER S UNEMPLOYMENT AND INCAPACITY FOR WORK No. KA 0413 Approved by Resolution of the Board of Swedbank P&C Insurance AS In force from 18. April 2013 Contact details: Phone: Sale, consultations: apdrosinasana@swedbank.lv fax: Claims handling: atlidziba@swedbank.lv fax: Address: Balasta dambis 1a, Riga, LV This is translation. In case of dispute the Latvian language terms and conditions are valid. I. GENERAL 1.1. Definitions Policyholder means the person stated on the Insurance Policy who has entered into Loan Agreement or Guarantee Agreement with the Bank, as well as into Insurance The Policyholder is at the same time also the Insured. Insurer means Swedbank P&C Insurance AS, registered in the Commercial Register of the Republic of Estonia under registration No and having its registered office at Liivalaia 12, Tallinn, 15039, Estonia, which is represented in the Republic of Latvia by Swedbank P&C Insurance AS Latvian branch registered in the Commercial Register of the Republic of Latvia under unified registration No Insured means the person stated on the Insurance Policy, who has the covered interest not to suffer loss and who will be paid Indemnity upon occurrence of Insured Event. Insurance Contract means the contract entered into between the Policyholder and the Insurer, whereby the Insurer undertakes to pay out insurance indemnity upon occurrence of Insured Event, while the Policyholder undertakes to pay the Insurance Premium. The Insurance Contract consists of Insurance Policy, Insurance Terms and Conditions, insurance application, and other annexes or amendments, if any, to the Insurance Insurance Policy means the document which is issued by the Insurer as an integral part of, and proof of entry into, the Insurance Insurance Terms and Conditions means the Terms and Conditions of Insurance against Borrower s Unemployment and Incapacity for Work No. KA 0413 which form an integral part of the Insurance Sum Insured means the amount of money equivalent to the aggregate of twelve months Monthly Loan Payments, however not exceeding the limit set in the Insurance Policy. Insured Object means the Insured s obligation to maintain Monthly Loan Payments in the event in the event of unemployment or temporary incapacity for work. Insurance Premium means the payment for insurance. Insured Event means a sudden and unexpected event that stands beyond reasonable control of the Insured and is related, through cause and effect, to the Insured Risk, the occurrence of which event gives rise to an obligation to pay out Indemnity according to the procedure and to the amount set forth in the Insurance Indemnity means an amount of money paid by the Insurer to the Insured upon occurrence of an Insured Event. Loan Agreement means the loan agreement between the Policyholder and the Bank, the reference number of which is specified on the Insurance Policy. Loan Amount means the amount of money issued to the borrower under the Loan Agreement and owed to the Bank. Monthly Loan Payment means the portion of the loan principal and interest on use of the Loan Amount, as calculated according to the terms of the Loan Agreement and payable within the timeframe set forth in the Loan Agreement. Loan Repayment Date means the day on which the Policyholder must make the Monthly Loan Payments under the Loan Agreement. Remote Banking Services means a credit institution s services like online banking, telephone banking and mobile banking through which the Insurer ensures the delivery of notifications and other Insurance Contract related information to the Policyholder, through which the Insurer can make it possible to amend or terminate the Insurance Contract and where the Policyholder can view, print out or save on other data media the information prepared by the Insurer, using the relevant means of identification (username, password, code, etc.); in order to use the

2 Remote Banking Services, the Policyholder must enter into an agreement with the relevant credit institution for use of such services. Physician means a person with medical education who practices medicine in accordance with legislation in force in the Republic of Latvia, who holds a certificate of medical practitioner and who has the right to issue sick-leave certificates. For the purposes of the Insurance Contract, a Physician does not include a person who is the Insured s spouse, relative up to the third degree or a brotherin-law or sister-in-law up to the second degree, a person who shares household with the Insured and a person who could be regarded as an interested party for other reason. Bank means the credit institution stated in the Insurance Policy with which the Policyholder has entered into a Loan Agreement or Guarantee Agreement. Work means the employment relations established by an employment contract or work performance contract between the Insured and the Employer, which contract stipulates that the duration of a Work week is at least 20 hours and that the Insured receives pay for their Work. Waiting Period means the number of days during which the cover is not in force and, upon occurrence of the Insured Risk during such a period, this will not constitute an Insured Event. Deductible Period means a set number of days after the date of occurrence of each Insured Event during which the loss incurred in the Insured Event will not be reimbursed by the Insurer but will be covered by the Insured themselves Entry into Force, Extension and Termination of Insurance Contract The Insurance Contract comes into force on the first day of the validity period of Insurance Contract specified in the Insurance Policy, but in any event not earlier than the Insurance Contract is entered into The Insurance Contract continues in force until 24:00 hrs on the end date of the validity period of the Insurance Contract specified in the Insurance Policy The Insurance Contract will be considered as terminated before the end date of the Insurance Contract validity period without any express notice by the Insurer to the Policyholder in the following events: - in case of death of the Insured; in such an event the Insurance Contract will be null and void as from the day of occurrence of the said fact; - if the Covered Interest has ceased to exist, i.e. the Loan Amount equals 0 (zero) or the Loan Agreement has been terminated prematurely; in such an event the Insurance Contract will be null and void as from the day of occurrence of the said fact; - if the Insured Risk occurs due to malice of the Insured, the Policyholder; in such an event the Insurance Contract will be null and void as from when the said fact is established. In the aforesaid cases, the Insurer will not refund any Insurance Premiums paid The Insurer has the right to terminate the Insurance Contract before its expiration in cases and subject to the procedure stipulated in the Law on Insurance Contract, including: - when the Policyholder has failed to pay the Insurance Premium, in whole or in part, in compliance with the terms of Insurance Contract; - if the Insurer establishes that untruthful information has been supplied about an Insured Event, and about the circumstances which lead to the Insured Event, in bad faith or through gross negligence; - when Insurance Indemnity is paid out The Policyholder is entitled to terminate the Insurance Contract before the expiration date at any time by giving a written application for such early termination of the Insurance Contract to the Insurer. In case of early termination of the Insurance Contract, the Insurer will refund the Policyholder the portion of Insurance Premium paid but not utilized, if any, on pro rata basis to the number of days remaining in the Insurance Contract validity period After expiration of the Insurance Contract validity period stated in the Insurance Policy, the Insurer may extend the Insurance Contract for every consecutive year (insurance period), but in any event not beyond the time when any of the conditions set out in the Insurance Terms and Conditions has occurred Upon extension of the Insurance Contract for the next insurance period, the Insurer may amend the terms of insurance (incl. the Insurance Premium, the currency of the Insurance Premium, the Insurance Contract validity period, etc.). In such an event, the Insurer will notify the Policyholder about the amendments by sending the next insurance period s Insurance Policy at least 30 (thirty) days prior to the end of the insurance period stated in the Insurance Policy The Insurance Contract will not be extended to the next insurance period if the Policyholder notifies the Insurer, before the end of the insurance period, that the Policyholder does not agree to the amended terms of the Insurance Contract (inc. the amount of Insurance Premium) and revokes the authorization. If the Policyholder does not notify the Insurer that the Policyholder does not agree to the amended terms of the Insurance Contract, the Insurer will consider the Policyholder to have agreed to the amended terms of the Insurance The Insurer may decline to extend the Insurance Contract for the next insurance period, subject to 30 (thirty) days prior notice to the

3 Policyholder thereof before the end of the current insurance period Where the Insurance Contract is entered into via means of distance communication, the Policyholder is entitled to exercise their right of refusal, namely to unilaterally withdraw from the Insurance Contract within 30 (thirty) days after entry into force of the Insurance The Policyholder expresses their consent to formation of the Insurance Contract by paying the Insurance Premium in the form, within the time period and in the amount stated in the Insurance Policy. Following payment of the Insurance Premium, or the first part thereof, within the time period required in the Insurance Policy, the Insurance Contract will come into force as from the date stated on the Insurance Policy. In order to exercise their right of refusal, the Policyholder must notify the Insurer of exercising the right of refusal in writing by delivering an application to the Insurer or by using the Internet Banking service. The 30-day time-limit for exercising the right of refusal will be considered as having been complied with if the notice of refusal has been sent to the Insurer before expiration of that period. The Insurance Contract will be considered terminated as from the date of receiving the notice of exercising the right of refusal. If Policyholder exercises the right of refusal, the Insurer will incur an obligation to refund the paid Insurance Premium to the Policyholder within a maximum of 30 days after the day of receiving the Policyholder s notice of exercising the right of refusal Sum Insured and Insurance Premium The Sum Insured may be specified in the Insurance Contract per one month The Sum Insured will change according to changes in the Monthly Loan Payments pursuant to the Loan Agreement Insurance Premium payments must be made by the Policyholder on the date specified in the Insurance Policy which will be the same as the Loan Repayment Date If the Loan Repayment Date is changed in the Loan Agreement, then also the date due for payment of the Insurance Premium will change accordingly without any additional amendment of the Insurance The Policyholder has a duty, on the date due for payment of the Insurance Premium specified in the Insurance Policy, to cause the account specified in the Insurance Contract to have balance of funds sufficient for the Insurance Premium payable under the Insurance The responsibility for paying the Insurance Premium as it falls due and payable lies with the Policyholder The Policyholder must pay the Insurance Premium, or part thereof, pursuant to the procedure, within the time period and in the amount stated in the Insurance Policy irrespective of whether or not the Insurer has sent the Policyholder a relevant written reminder or notification or invoice If the Insurer issues invoices, they will be in electronic form and are valid without signature or stamp. Invoices may be sent to the Policyholder by post, by or via internet banking service where the Policyholder will be able to view, print, or save the Insurer s invoices on other data media, using relevant means of identification (username, password, codes, etc.) Where Insurance Premium is paid by bank transfer, it will be considered paid on the date when the money enters the current account of the Insurer or of an insurance agent authorized to collect Insurance Premiums on behalf of the Insurer and through whom the respective Insurance Contract is entered into. II. INSURED RISKS Unemployment Temporary Incapacity for Work 2. UNEMPLOYMENT 2.1. Insured Risk Unemployment means the loss of Work by the Insured due to the Employer's notice of termination of employment or by mutual agreement between the Employer and the Insured if such agreement is initiated by the Employer and the Insured receives the status of an unemployed person In cases when the Insured has Work on the date of entry into force of the Insurance Contract, the Insured Risk unemployment shall be subject to a 90 (ninety) days Waiting Period as from the date of entry into force of the Insurance In cases when the Insured is out of Work on the date of entry into force of the Insurance Contract, the Insured Risk unemployment shall be subject to a 90 (ninety) days Waiting Period as from the date when the Insured commences Work Insured Event The Insured Event is the loss of employment by the Insured if the Work relations (employment) are terminated after the end of the Waiting Period and during the validity period of the Insurance Contract, and the unemployment did not result from any of the exceptions set forth in the terms of the Insurance The date of occurrence of the Insured Event is the Insured s last day of Work with the Employer Exceptions It does not constitute the Insured Event and no Indemnity will be paid out if the Insured lost their Work:

4 or was aware of the loss of Work, prior to the date of entry into force of the Insurance Contract; based on an agreement between the Employer and the Insured initiated by the Insured; based on the Insured s notice of termination of employment; due to a serious violation, without a legitimate reason, of the Work contract or the set Work procedures; due to an unlawful act in performance of Work, and the resulting loss of trust of the Employer; due to an immoral act in performance of Work and this has made it impossible to continue the Work relations (employment); due to being under the influence of alcohol, narcotic or toxic substances in performance of Work; due to gross violation of Labour Protection Regulations and jeopardising the safety and health of other persons; due to reaching the state pension age; during the Waiting Period; due to expiration of Work contract that was of fixed duration and was not extended; However: The Insurer will pay out Indemnity to the Insured if the Insured who has a fixed-duration Work contract will have had been in continuous employment with one Employer for at least 13 months by a court ruling or lost their right to perform the Work; if the Insured is their own Employer, including co-owner, if the Insured is a beneficial owner in the undertaking which is their Employer, if the Employer is the Insured s spouse, relative up to the third degree or brother-in-law or sister-in-law up to the second degree, or a person who shares household with the Insured, including a co-owner, or if any of the aforesaid persons if a beneficial owner in the undertaking which is the Insured s Employer; due to a nuclear accident, use of weapons of mass destruction, war, the Insured s participation in mass riots or military operations (military training will not be considered as military operations). 3. TEMPORARY INCAPACITY FOR WORK 3.1. Insured Risk Temporary Incapacity for Work means the Insured s loss of capacity for Work if certified by a Physician and if resulting from an illness or accident Insured Event The Insured Event is the Insured s temporary incapacity for Work if it occurs after the end of the Waiting Period and during the validity period of the Insurance Contract, and the temporary incapacity for Work did not result from any of the exceptions set forth in the terms of the Insurance The date of occurrence of the Insured Event is the start date of the period of incapacity for Work as stated by the Physician on the work incapacity certificate Exceptions It does not constitute an Insured Event and no Indemnity will be paid out if the temporary incapacity for Work results from: an earlier health disorder which continues or re-emerges during the first insurance period of the Insurance An earlier health disorder means any trauma, illness, or symptoms thereof, which have been diagnosed or which were, or should have been, known to the Insured, or in connection with which it was planned to see a Physician or a Physician had already been seen 12 months before entry into the Insurance Contract; pregnancy, abortion or birth; However: the Insurer will pay out the Indemnity in the event of temporary incapacity for Work caused by medical complications arising in connection with pregnancy and/or birth-giving. Caesarean section or other surgical operation or intervention in connection with birth-giving which do not put the mother s or child s health at heightened risk and are not considered as medical complications psychiatric or psycho neurological disorder, including treatment of depression; cosmetic or plastic surgery which was not necessary for improving health condition and was not performed for medical purposes; treatment of sexually transmitted diseases or diseases caused by AIDS or HIV; use of non-medical assistance or alternative medicine; use of narcotic or toxic substances or alcohol abuse; deliberate actions by the Insured aimed at deteriorating own health; deliberate bodily harm done to themselves by the Insured (self-inflicted injury), attempted suicide; driving a vehicle, by the Insured, while being under the influence of alcohol, narcotic, psychotropic or other intoxicating substances and the concentration thereof has exceeded the level permissible under the legislation of the country in which the traffic accident has taken place; a nuclear accident, weapons of mass destruction, war, the Insured s participation in mass riots or military operations (military training will not be considered as military operations). 4. NOTIFICATION OF OCCURRENCE OF INSURED RISK AND THE REQUIRED DOCUMENTS 4.1. Notification of Occurrence of Insured Risk The Insured must notify the Insurer of occurrence of the Insured Risk immediately, as soon as possible, by phone on The Insured must immediately, as soon as possible, deliver the claim application in the required form to the Insurer. The claim application may be

5 delivered to the Insurer in writing in person, by mail or electronically on internet banking site using the provided claim application form (if such online form is provided by the Insurer) The Insured must provide the Insurer with complete and truthful information about the circumstances of occurrence of the Insured Risk, about the amount of loss, about the person responsible for causing damage, about witnesses, as well as with other proof of entitlement to Indemnity The Insured must provide the Insurer with documents requested by the Insurer in connection with occurrence of the Insured Risk and the loss thereby caused, including documents containing sensitive personal data and/or commercial secret, as well as information related to the Insured Risk about civil, administrative and criminal proceedings in the case In establishing the occurrence of a potential Insured Risk, the experts or specialists engaged by the Insurer may conduct expert examination in order to determine whether Insured Risk has occurred Required Documents In order to decide on the Indemnity, the Insurer may request and the Insured, or the person entitled to the Indemnity, will have a duty to deliver with the following to the Insurer: In case of occurrence of the Insured Risk Unemployment : a document issued by the State Employment Agency which confirms the granting of the status of an unemployed person; a document issued by the State Social Insurance Agency which confirms the granting of unemployment benefit; a document on the basis of which the Work relations were terminated; Work contract with the former Employer In case of occurrence of the Insured Risk Temporary Incapacity for Work : sick-leave certificate showing the period of incapacity for Work, as confirmed by the Employer; copies of the Insured s medical history documents; the Insured s medical examination documents and information on the results thereof; investigatory and/or judicial institutions formal opinion about the accident and the circumstances of the accident; other documents as may be necessary for the Insurer to decide on the Indemnity If the Insured has delivered document copies to the Insurer, the Insurer will have the right to request the original documents. 5. CALCULATION AND PAYMENT OF INDEMNITY 5.1. Calculation of Indemnity The Indemnity will be calculated for each day when the Insured Event has occurred and continues, starting from the next day after the end of the Deductible Period The Indemnity will be calculated based on the amount of the Monthly Loan Payment as at the time of calculation of the Indemnity The Indemnity will be calculated for each Monthly Loan Payment period on the date of calculation of the Monthly Loan Payment for that period The Indemnity for the first or the last month is calculated as follows: the sum insured per month, which is in force in the Monthly Loan Payment period in which the Insurer must pay the Indemnity, will be divided by 30 days and multiplied by the number of days counting from the first day of calculation of Indemnity until the next Loan Repayment Date or, in the event of the last payment, from the next Loan Repayment Date until the date when the Indemnity is no longer being paid If the period of the monthly payment of Indemnity corresponds to the Monthly Loan Payment period, then the Insurer will calculate the monthly payment of Indemnity on the basis of the applicable schedule of Monthly Loan Payments issued under the Loan Agreement Deductible Period Each Insured Event will be subject to the Deducible Period The Deductible Period for any Insured Event is 30 (thirty) days The Deducible Period start date will be the date on which the Insured Event occurred If the Insured Event occurs during the Insurance Contract validity period but does not continue beyond the Deductible Period, then Indemnity will not be paid Payment of Indemnity The Indemnity will be paid out in the form of periodic payments, i.e. not more often once a month, provided that the Insured has performed all of the Insured s duties set forth in the Terms and Conditions The Insurer will adopt a decision on the Indemnity within 5 (five) business days after delivery of all the required documents by the Insured to the Insurer If the Insurer s decision is to pay the Indemnity, then it will be transferred to the current account specified in the Insurance Policy The Insured will have a duty during the Indemnity payment period: to deliver proof of the Insured s right to receive the Indemnity (e.g. letter or certificate issued by the State Employment Agency confirming the status of an unemployed person) to the Insurer 5 (five) business days before the next Loan Repayment Date;

6 to apply the received Indemnity towards the Monthly Loan Payment, except if the Monthly Loan Payment has been paid before receiving the Indemnity The maximum period of paying the Indemnity per single Insured Event is 12 months, but in any event not beyond the date when any of the following occurs: the Insured has returned to Work after temporary incapacity for Work. The Indemnity will be discontinued as from the first day when the Insured has returned to Work; the Insured has found Work after being unemployed and has resumed employment. The Indemnity will be discontinued as from the first day when the Insured has started their employment at Work; the Insurer has paid out the full Sum Insured per single Insured Event the Indemnity will not be paid simultaneously both for the Insured Event of unemployment and for the Insured Event of temporary incapacity for Work If the Insured is receiving Indemnity for the Insured Event of temporary incapacity for Work and, during that time, the Insured Event of unemployment occurs, then the Insured may also notify the Insurer of the Insured Event of unemployment Where performance of the Insurer s obligations, or scope of performance thereof, depends on circumstances, which are determined in legal proceedings of criminal or administrative case or administrative rights offence case, the Insurer is entitled to decide on payout or refusal of Indemnity after suspension or termination of legal proceedings, or coming into force of court s or relevant official s decision The Insured has a duty to return the received Indemnity, or a part thereof, to the Insurer if, following payout of the Indemnity, evidence is found to the effect that the paid Indemnity, or any part thereof, has been unfounded or unjustified. 6. CONSEQUENCES OF INCOMPLIANCE WITH THE DUTIES OF THE INSURED 6.1. The Insurer may reduce or refuse the Indemnity if the Insured performs any of the following acts: deliberate supplying, upon entry into or during validity period of the Insurance Contract, of untruthful information or withholding of information about any material facts under the Insurance Contract that could have affected the origination or the extent of loss or the conditions of Insurance Contract, including the assessment of probability of Insured Risk; deliberate supplying, upon filing the claim application or upon notifying about occurrence of Insured Risk, deliberate supplying of untruthful information about the Insured Risk, about the circumstances of occurrence thereof, or withholding of material information about the Insured Risk, about the circumstances of occurrence thereof or about the extent thereof. 7. EXCHANGE OF INFORMATION BETWEEN THE PARTIES; PROCEDURE OF OFFERING SERVICES 7.1. The Policyholder is liable to the Insurer for the truthfulness, completeness, accuracy and timely provision of all the information and documents supplied or delivered to the Insurer, including any notices given All Insurance Contract related notices and applications to the Policyholder must be submitted in such a form and in such a manner as to enable the Insurer to identify the person giving the notice or the application The Insurer will give its notices and deliver information to the Policyholder by post to the latest address notified by the Policyholder. If the Policyholder changes their mailing address without notifying the Insurer thereof, all notices will be considered received on the 5 (fifth) day following the delivery thereof to the post office If the Policyholder has notified the Insurer of their address and subscription number assigned by the mobile carrier, then Insurer has the right to give its notices to the address and to send text messages (SMS) to the subscription number supplied by the Policyholder; the Policyholder is aware that is not necessarily a secure way of exchanging information and undertakes not to raise any objections in respect of information (including Policyholder s data and other confidential information) being sent by The Insurer has the right to send information and notices related to the Insurance Contract via Remote Banking Services Published notices refer to notices published on the Insurer s website, in informational materials issued by the Insurer (e.g. booklets) and in mass media The Insurer may offer services to the Policyholder and, subject to the Insurer s procedures, receive applications for services from the Policyholder via post, telephone, facsimile, , and other means of communication. In such events the Insurer may identify the Policyholder using information in its possession about the person of the Policyholder (their representative). The Policyholder agrees that, pursuant to this clause, the information provided by the Policyholder will be considered as sufficient means of identification of the Policyholder s person for offering of and applying for services via means of communication. The Policyholder has the right to opt out of being sent commercial notifications. Unless the Policyholder opts out of being sent commercial notifications, the Policyholder will be considered to have agreed to

7 being sent commercial notifications until the opt-out right is exercised The Policyholder agrees that the Insurer is authorized to record and save telephone conversations and other oral communication between the parties, and to use its sole discretion in choosing the technical means for such recording of telephone conversations and other oral communication (incl. video surveillance). Conversion records will serve as sufficient proof of communication between the Policyholder and the Insurer in dealing with disputes between Parties and in court. 8. PROCESSING OF PERSONAL DATA 8.1. The Insurer requires personal data for the formation of the Insurance Contract, for quotation of insurance risks and for performance of obligations under the Insurance The Insurer confirms that it will process the Policyholder s data and personal identification (classification) codes in compliance with the Personal Data Protection Law and other legislation in force in the Republic of Latvia The administrator and operator of the personal data are specified in the Insurance Policy. 9. AMENDMENT OF INSURANCE CONTRACT 9.1. Unless stipulated otherwise in the Insurance Contract, the Insurer and the Policyholder may agree to amend the Insurance Contract by signing an annex to the Insurance 9.2. The Insurer may determine which Insurance Contract amendments may be made remotely via the Remote Banking Services Unless defined or explained in these Terms and Conditions, the terminology used in the Insurance Terms and Conditions must be treated as elements of the legal system of the Republic of Latvia and construed according to its sources The Policyholder has the right to request information about the Insurance Contract, and the Insured or the person entitled to Indemnity have the right to request information relating such persons entitlement to Indemnity or duties to the Insurer, as well as to inspect the documents which substantiate the Insurer s decision to pay or refuse the Indemnity to such person. The Insurer will provide the Policyholder with the aforesaid information and will make the aforesaid documents available to the Policyholder for inspection within 30 (thirty) days of receiving the Policyholder s written request All matters not contemplated in the Insurance Contract, as well as any dispute, disagreement or claim arising out of the Insurance Contract, affecting the Insurance Contract, or the amendment, breach, termination, lawfulness, validity, or interpretation of the Insurance Contract will be resolved through negotiation. In case no resolution is reached through negotiation, the dispute in question will be referred to court in accordance with applicable legislation in force in the Republic of Latvia. 10. DISPUTE RESOLUTION PROCEDURE Should the terms of Insurance Policy be at variance with the present Terms and Conditions, the terms of Insurance Policy will prevail The Parties will be guided by applicable legislation in force in the Republic of Latvia in the formation and performance of the Insurance All matters and legal relations between the Parties not provided for and contemplated in the Insurance Contract shall be resolved in accordance with applicable legislation in force in the Republic of Latvia If any provision of the Insurance Contract is held invalid or unenforceable due to it being at variance with applicable legislation, this will not constitute grounds to invalidate the entire Insurance Contract or other provisions of the Insurance Headings in the Insurance Terms and Conditions are for ease of reference only and may not be used in construction (interpretation) of the provisions of the Insurance Terms and Conditions.