Vehicle Insurance Policy

Transcription

1 Vehicle Insurance Policy Insurance Guide General and Special Terms & Conditions This document is a translation of our Policy Terms & Conditions document, which is provided for your information only. In case of any discrepancies between the Greek Policy Terms & Conditions (original document) and this document, the Greek version shall prevail.

2 Contents page General and Special Terms of civil liability in respect of the use of motor vehicles and other insurance risks optionally covered. General Terms Articles 1 through Special Terms Risks insured 1 through Civil Liability in respect of the Use of Motor Vehicles Expansion of the insurance for civil liability to cover any damages caused by Towed Vehicles (trailers) Expired Driving License Material Damage caused by Uninsured Vehicles Driver s Accident Glass Breakage Earthquake Fire Terrorist Acts Civil Liability in respect of Fire Total Theft Partial Theft Natural phenomena causing massive destruction Hail Airbags - Safety Belts Own Damage Car Rental as a result of Own Damage Insurrection - Strikes - Riots Malicious acts Civil Liability in respect of the use of the vehicle as machinery Domestic Pet Accident VEHICLE INSURANCE POLICY

3 A. ERGO S.A. Terms Terms Code: 19.12/ General and Special Terms of civil liability in respect of the use of motor vehicles and other insurance risks optionally covered. General terms Articles 1 through 21 These terms and conditions relate and apply to all types of insurance cover you have selected, as same are indicated on page one of your insurance policy. 1. Definitions The words laid down hereinbelow shall have the same meaning throughout your policy, as such meaning is defined below: Exemption The pecuniary amount by which the insured participates in each risk, which is deducted from the final amount of the insurance indemnity. Such exemption applies only in respect of specific types of cover provided under the insurance policy. Where the exemption applies, the relevant amount is indicated on the first page of the insurance policy. Insurance Indemnity The amount payable by the insurer to its insureds or to third parties in respect of any risk covered under the insurance policy. Insured vehicle The vehicle covered under the insurance policy, whose full details are indicated on the first page thereof. Insured The person threatened by the risks insured, in favor of whom insurance cover is provided. The insured bears the same liabilities as the insurance beneficiary. Insurance Policy The overall official insurance documentation issued by the insurer, consisting of: The main body of the insurance policy (first page), containing the personalized details of the insurance agreement, such as the details of the insurance beneficiary / insured, the term of the insurance agreement, the details of the insured vehicle, the types of cover provided, the insurance values, any special arrangements etc. The special tag and the insurance certificate, and The general and special insurance terms. Insured Value - Liability Limit The highest amount of indemnification payable by the insurer in case of accident or risk occurrence. Risk insured The possibility of occurrence of a damaging event covered under the insurance policy. Insurance premiums The pecuniary amount payable by the insurance beneficiary in order for a policy to be issued and put to effect. Accident or risk occurrence Any accidental, violent and unpredictable event, which evades the intentions of the insurance beneficiary / insured and causes damage to the insured vehicle or to third parties. Indemnity beneficiary The person entitled to receive the insurance indemnity in case of accident or risk occurrence. Annual term or renewal The indivisible and continual twelve-month term of insurance, regardless of whether one or multiple policies have been issued during such term. Insurer The insurance company under the trade name ERGO INSURANCE S.A.. Malicious act Any damage caused intentionally for the exclusive purpose of vandalism or sabotage, excluding any terrorist acts or any damage caused within the context of insurrection, strikes, riots or civil commotion. Insurance Beneficiary The person who concludes the insurance agreement with the insurer. Such persons may be contracted either on their own account or on account of third parties. The insurance beneficiary bears all obligations under the policy, save for those which, by nature, need to be performed by the insured. Non-standard vehicle equipment Any components which are not included in the factory equipment of the model of the insured vehicle. 3 VEHICLE INSURANCE POLICY

4 Supplement The insurance document issued by the insurer in amendment or cancellation of the insurance policy effective at that time. Insurrection - strikes - riots Violent illegal actions of crowds of people performed during insurrection, strike, riot, protest or civil commotion, intended to disturb the public order or any actions of the Authorities intended to suppress or prevent such actions (or commotion). Terrorist acts are excluded. Terrorist acts Violent illegal actions of any person(s) forming an organized criminal group of people, committed against other persons or against foreign property, for the purpose of intimidation or causing political / social / economic destabilization and disorder or exercising pressure upon the legal authorities, and stemming from political, religious, nationalistic or similar convictions. 2. Execution and effect of the insurance policy 2.1. The insurance policy was executed based on the insurance proposal submitted by the insurer to the insurance beneficiary The obligations of the insurer and the insurance beneficiary / insured are defined in the insurance proposal, the insurance policy and any supplements issued by prior agreement of the insurer and the insurance beneficiary Premium payment is an essential prerequisite of the activation of the policy and the effect of the insurance cover. Such payment is evidenced exclusively by means of a duly signed receipt issued by the insurer s competent employees or duly authorized associates Receipt, use or invocation of the policy and payment of the premiums by the insured implies unconditional acceptance of all insurance terms and conditions. 3. Premium calculation basis 3.1. Premiums are defined based on the following specific information: Vehicle information: e.g. use, cubic capacity, taxable horse power or actual horse power, number of seats, years in use etc.; Owner and driver information: e.g. driver s license issue date, age, driving experience, previous damages; Information about the location where the vehicle is normally based Whenever an amendment is introduced to minimum insurance limits, premiums will be automatically readjusted as of the date of effect of the new applicable limits Insurer reserves the right to readjust the premiums and modify the premium calculation requirements and criteria upon each renewal of the insurance policy. 4. Term of insurance - Renewal 4.1. The insurance remains effective for the term defined on the first page of the insurance policy The compulsory third party insurance cover (insurance for civil liability) is automatically renewed for an equal term, save where either party, i.e. either the insurer or the insurance beneficiary, opposes such renewal by written notice served to the other party against certified receipt thirty (30) days prior to expiry of the insurance policy The insurance cover provided in respect of any risks optionally insured expires definitely upon the date of expiry indicated on the first page of the policy and is not subject to automatic extension or renewal, save by way of issue of another policy. 5. Cases covered under the policy - Cases requiring the issue of a green card 5.1. The compulsory insurance for civil liability applies within the boundaries of the Greek Territory, the EU member states, the states of the European Economic Area (E.E.A.) and any states where the domestic Motor Insurers Bureaus are liable to conform with Section ΙΙΙ of the Consolidated Agreement. In all other countries the issue of an international insurance certificate (Greek Card) is required. Any vehicles lacking a green card shall not be insured in the relevant countries. Green cards are issued by the insurer, at the request of the insurance beneficiary, following authorization by the insurer, against payment of additional premium The cover provided for any optionally insured risks applies within the boundaries of the Greek Territory, excluding the Driver s Accidents, which applies also outside the Greek Territory. However, the effect of some of these risks indicated on the first page of the policy may be expanded outside the boundaries of the Greek Territory, by request of the insurance beneficiary, following authorization by the insurer and against payment of additional premium. 6. Amendments to the policy The policy may be amended following a request by the insurance beneficiary. Such amendment shall enter effect once authorized by the insurer through issue of a supplement. 7. Policy cancellation 7.1. By mutual agreement The insurance policy may be cancelled any time by written mutual agreement of the insurer and the insurance beneficiary or the insured. 4 VEHICLE INSURANCE POLICY

5 7.2. By way of termination 1. The insurance beneficiary or the insured can terminate the insurance agreement any time, by written notice served to the insurer or to a duly authorized intermediary of the latter, against certified receipt. Such termination enters effect thirty (30) days as of the date of receipt of the termination notice. 2. The insurer can terminate the insurance agreement by written notice to the insurance beneficiary / insured, for non payment of the premiums payable under the insurance policy. The termination notice is served at the address indicated on the insurance policy. 3. Moreover, the insurer can terminate the insurance agreement for a material cause. Such cause may consist, without limitation, in any inaccurate representations made intentionally on part of the insurance beneficiary /insured, in any information concealed or in the infringement of any terms of the insurance policy Special arrangements 1. The insurance policy is cancelled provided that the insurance beneficiary has furnished to the insurer the policy, the special insurance tag and the insurance certificate. 2. Any policies in respect of which a green card has been issued may not be cancelled as long as the green card remains effective. 3. In the event of cancellation of the primary insurance policy the insurer is entitled as minimum indemnification in respect of any operating and administrative expenses incurred for the issue and cancellation of the policy, to the amount of twenty five euro ( 25.00) in respect of two-wheeled vehicles, tractors, agricultural machinery and construction machinery and fifty euro ( 50.00) in respect of all other types of vehicles. 8. Insurer s liability limit 8.1. Civil liability in respect of the use of motor vehicles The total liability undertaken by the insurer per accident or per victim may not exceed the insured value as same is indicated on the first page of the insurance policy, for each type of risk insured. Multiple occurrences deriving from the same cause will be deemed as a single accident Optionally insured risks The insured value for each type of cover indicated on the first page of the insurance policy is the maximum liability limit of the insurer which applies throughout the insurance term in respect of one or multiple accidents. Any payments of indemnity made by the insurer shall reduce that amount accordingly. The maximum liability limit may be restored by request of the insurance beneficiary against payment of the applicable premium. 9. Value of the insured vehicle 9.1. The value for which the vehicle is insured (insured value) must be equal to its actual, current market value as at the date of effect of the insurance. Such value is declared by the insurance beneficiary and is subject to investigation by the insurer any time. Such investigation is always carried out by the insurer at the time of risk occurrence. This means that the insurance beneficiary should for his own interest identify such value upon each renewal of his policy and readjust it (if necessary), to avoid needless additional premiums. Moreover, the insurer can reduce the insured value upon each annual renewal of the insurance policy, based on the age of the vehicle. Such reduction is always minimum and intended to ensure that the insured value is at all times equivalent to the current market value of the vehicle. Under no circumstances may such reduction constitute a contractual assessment of the vehicle s value. Such assessment shall be based exclusively on the vehicle s current market value as at the time of risk occurrence Where the insured value is lower or higher than the current market value of the vehicle, the rules of under-insurance or over-insurance shall apply accordingly. Where a risk insured as indicated on the first page of the policy bears the indication upon first occurrence, then the cover is provided notwithstanding the rules of under-insurance or over-insurance. 10. Young or new drivers The driver s age and the issue date of his/her driving license are significant parameters of premium calculation. Therefore, the insurance beneficiary is liable to declare to the insurer whether the insured vehicle is used by Any person(s) under the age of 23 or Any person(s) whose driving license was issued any time during the last twelve months (i.e. prior to the date of effect of the insurance or prior to the date of risk occurrence). Any drivers of insured vehicles who fall under either of the aforementioned categories will be considered as young or new drivers accordingly and the insurance beneficiary will be liable to pay additional premium for civil liability at the rate of 40% In the event that damage is caused by a young or new driver who is not declared as such in the insurance policy, the insured shall be subject to certain sanctions. In particular: In case of civil liability (where insurance is either compulsory under the law or the damage relates to use of machinery), the insurer shall issue a supplement charging 40% additional premium over the civil liability premium payable in respect of the term from risk occurrence until expiry of the insurance policy, as well as 60% additional premium over the annual civil liability premium, by way of penalty. Such supplements must be collected and paid off by the insurance beneficiary within two (2) months from issue. 5 VEHICLE INSURANCE POLICY

6 In respect of own damage, the risk is not covered pursuant to the provisions of paragraph 4 of the exclusions of insured risk 15, of the special terms hereof. In respect of a driver's accident, the insurer is liable to pay only 60% of the indemnity to the insured driver or to his legal successors (in case of death). 11. General exclusions from the cover provided for civil liability in respect of the use of motor vehicles Any damage caused either directly or indirectly by or as a result of any of the following events is excluded from the insurance cover and not indemnified, unless such cover has been specifically agreed and indicated on the first page of the insurance policy: Damage caused intentionally by the insurance beneficiary / insured; Damage caused by a driver not duly licensed under the law for the category of vehicle used. This exception applies also in case the professional or non-professional driving license has expired as at the time of the accident, even if it is subsequently renewed, as well as if it has been suspended by any competent authority. The exact same applies also to the drivers of any vehicles operated as machinery and to machinery operators, in respect of the operator s license required under the law; Damage caused by a driver who was driving drunk or intoxicated at the time of the accident; Damage caused by a vehicle which is under a different use from that described in the policy or in the vehicle registration certificate; Damage caused as a result of the participation of the insured vehicle in contests or races, either official or otherwise (e.g. street racing), or in demonstrations or festivity parades, either official or otherwise, test routes, test drives etc.; If the driver is under 23 years of age or if he/she has obtained a driver s license not earlier than twelve months prior to the date of the accident, unless the driver is declared as a young or new driver, before or after the accident, in accordance with the provisions of Article 10 of the general terms hereof; Damage caused while the insured vehicle is towing another vehicle. Moreover, damage caused while the insured vehicle is being towed, heaved or carried by another vehicle; Damage caused while the insured vehicle is being operated or used as machinery; Damage caused while the insured vehicle is driven on roads or at locations where vehicle circulation is prohibited by the authorities, e.g. at airports, work sites, military camps, pavements, pedestrian streets, squares etc.; Damage to any items carried by the insured vehicle, regardless of the owner, as well as damage to the apparel or personal belongings of the passengers of the insured vehicle, and loss of or damage to valuable objects or money; Damage caused while possession of the insured vehicle is temporarily or permanently suspended as a result of attachment or confiscation of the vehicle by any judicial or other administrative authority; Damage to any passengers who agreed to be carried by a vehicle whose possession was deprived by its legitimate possessor by illegal means or by a vehicle used for the commission of a criminal act; Damage caused as a result of war, hostilities, civil war, insurgency, military or public rebellion, movement, civil disobedience, revolution or military take-over, requisition of any kind, or as a result of terrorist acts, insurrection, strike, riots, or any action intended to suppress or constrict any of the events or situations mentioned in this paragraph; Damage caused by rockets or missiles; by nuclear weapons or any materials used in their manufacture; by ionizing / electro magnetic or other type of radiation or fields of any kind; by radioactive contamination; by any nuclear fuels or waste produced through combustion of nuclear fuels, or as a result or consequence of the above. The term combustion includes any autonomous processing involving nuclear disintegration. Moreover, damage caused by environmental contamination or pollution from any cause, including biological and/or chemical contamination or pollution; Damage caused as a result of earthquake, flood, storm, thunder rain, hail, volcanic explosion, tornado, hurricane, cyclone or any other natural disorder which cases massive destruction, as well as damage caused by the fall of trees or other objects due to any of the aforementioned causes. A storm or hurricane requires winds of at least 8 Beaufort, according to the Hellenic National Meteorological Service (HNMS). In the cases set out above, if the insurer is liable under the law or by force of a court decision to pay indemnification to third parties, it will have the right of recourse against any person(s) whose liability is covered under the insurance policy. 12. General exclusions regarding the risks optionally covered Especially as regards any risks optionally insured, the following exclusions shall apply in addition to the exclusions laid down in Article 11: Damage caused by intention or gross negligence of the insurance beneficiary / insured; Damage caused by malicious acts of known or unknown perpetrators; Damage caused by the insured vehicle while it carries any load or passengers in excess of the load capacity indicated on the vehicle s registration certificate; 6 VEHICLE INSURANCE POLICY

7 12.4. Damage caused by explosion or flame of the vehicle or by fire transmitted by it as a result of thunder, as well as damage caused by or due to leaking liquids or liquid gases of any kind, which are carried by the vehicle or serve its function; Damage caused by a vehicle insured for civil liability in respect of its use, under the special arrangement that it will be used exclusively within a specific location, provided that the damage was caused within such location; Damage to haystacks or to agricultural products in general, as a result of fire caused by threshing machines, harvesting machines or combined threshing and harvesting machines, grass cutters or cotton harvesters; Damage caused by a vehicle which has not undergone the Technical Control required under the law or has been found unroadworthy during such control; Pre-existing damage caused as a result of misuse / poor maintenance of the vehicle; Damage caused to the insured vehicle while it is being used in a criminal act or illegal activity or while it is being persecuted by the authorities or attached for use thereof in illegal actions. In the cases set out above, if the insurer is liable under the law or by force of a court decision to pay indemnification to third parties, it will have the right of recourse against any person(s) whose liability is covered under the insurance policy. 13. Transfer of ownership of the insured vehicle The insurance beneficiary / insured is liable to promptly notify the insurer of any change in the ownership or possession of the insured vehicle Where ownership over the insured vehicle is transferred by reason of death, all rights and obligations arising from the insurance shall be transferred to the owner s successor(s), save where a disclaimer by the latter is notified to the insurer in writing within thirty (30) days from the date the successor(s) gained knowledge of the succession In the event that ownership or possession of the insured vehicle is legitimately transferred in any manner, the insurance agreement shall be terminated thirty days (30) after the date of transfer, and the insurer will be liable to return any non-accrued premiums, where applicable. 14. Events which may entail forfeiture of any rights under the policy The insurance beneficiary / insured is liable to take all precautionary measures necessary and appropriate to prevent the accident or risk occurrence. In general, the insurance beneficiary / insured is liable to act with diligence and care as if he/she were uninsured. In particular, the insurance beneficiary / insured is liable as follows: During execution of the insurance policy: To notify to the insurer the details of his primary residence or professional seat, all details of the insured vehicle, including its current market value (where cover is sought for optionally insured risks relating to the vehicle s value) and generally any information or events which could potentially affect the insurer s decision to provide cover or not, or the calculation of premiums. If the insurance beneficiary / insured fails to notify any such information the insurer may, according to the applicable provisions, either amend or terminate the insurance agreement, or even refuse to pay indemnification in case of risk occurrence Throughout the term of the insurance policy The insurance beneficiary / insured is liable to notify to the insurer within fourteen (14) days, of any change in the details of the insured vehicle or any information or event which may increase risk to such extent, that, had it been known to the insurer, the latter would not have decided to provide insurance cover or would have provided it on different terms. In such an event the insurer can amend or terminate the insurance agreement. 15. Obligations of the insurance beneficiary / insured in case of accident or risk occurrence In case of accident or risk occurrence the insurance beneficiary / insured is liable to: Promptly notify the Accident Care or the insurer, in order to file an accident declaration. Such notification must essentially take place within eight (8) days from the date the accident or risk occurred. Promptly notify the police or any other competent authorities, especially in case of a serious accident, i.e. in case of an accident which has inflicted bodily injuries to any person(s), or extensive property damage or damage to multiple vehicles. Provide all necessary assistance to the insurer s representatives or surveyors, in order to help them: - Identify the causes and circumstances of the accident; - Investigate any liability on part of the insurer to pay indemnification and - Assess the damage caused. It is further specified that an investigation conducted by a surveyor of the insurer may under no circumstances be deemed as acknowledgment of any liability for indemnification. Promptly deliver to the insurer, in any case within eight (8) days, any judicial or extrajudicial documents relating to the accident or risk, regardless of their origin. Not proceed to recognition of any debt or liability or to any agreement which may expand or increase his liability, save with the insurer s prior written consent Failure by the insurance beneficiary / insured to meet any of the obligations set out above shall entitle the insurer to claim damages. If such failure is caused by intention, the insurer shall be discharged from all liability under the insurance 7 VEHICLE INSURANCE POLICY

8 policy. Such intention exists especially if the insurance beneficiary / insured refuses to reveal, conceals, distorts or knowingly describes falsely to the insurer, its representatives, its surveyors or to the authorities, the exact circumstances of the accident, the parties involved or any other crucial information or event Payment of any indemnification to the insurance beneficiary / insured for any damages caused to the insured vehicle as a result of any insured risk is subject to prior investigation by a surveyor appointed by the insurer. If the vehicle is repaired without undergoing a prior survey as above, the insurance beneficiary / insured forfeits the right to indemnification The insurer can make any type of arrangement for the damages, at its free discretion, without the prior consent of the insurance beneficiary / insured. 16. Calculation of the indemnity in case of damage to the insured vehicle The indemnification amount (indemnity) is calculated based on the actual current market value of the insured vehicle as at the time of risk occurrence, both in the case of total destruction and partial damage. I.e. the indemnity is calculated taking always into account the vehicle s age and normal wear and tear The indemnity payable in respect of all risks insured, excluding the compulsory civil liability, consists exclusively in the liquidated damages sustained, never in the consequential damage or in any reduction of the vehicle s market value, any damage caused as a result of the deprivation of its use or any other direct or indirect damage or loss The indemnification payable for material damages, in case the vehicle has sustained partial damage, consists in the cost of spare parts and replacement labor The indemnity is payable in cash, however the insurer can proceed to physical restoration Payment of the indemnity is conditional upon presentation to the insurer of the original vouchers and all relevant public documentation, e.g. the traffic police report or the criminal file, where penal prosecution has been sought. 17. Transfer of the insured s rights to the insurer Upon payment of the indemnity the insurer subrogates the insurance beneficiary / insured to all rights against the person(s) liable for the damages indemnified. At the same time, the insurance beneficiary / insured assigns to the insurer all indemnification rights and authorizes the latter to take all action required to recover the indemnification paid. 18. Waiver from risk declaration The insurance beneficiary / insured can within one (1) year from the date of the accident waive the risk declaration he has filed, and undertake all liability for indemnification. Such waiver generates the effects of remission of debt. Such waiver shall not apply if the insurer has paid any amount in respect of the specific risk, even if the insurer has recovered the amount originally paid, from any third party liable, by way of extrajudicial settlement or a court decision. 19. Limitation period for any claims under the insurance policy All claims of the insurance beneficiary and/or the insured against the insurer arising from the insurance policy are timebarred four (4) years from expiry of the year in which they arose All claims of the driver of the insured vehicle or his/her successors against the insurer, relating to the cover titled Driver s Accidents are time-barred five (5) years from expiry of the year in which they arose All claims of any third parties relating to the cover for civil liability towards third parties are time-barred five (5) years after the date of the accident. 20. Consecutive insurance Where the vehicle is insured with multiple insurers, the most recent insurer will be exclusively liable for indemnification. All previous policies will be considered null and void under the law. 21. Jurisdiction Any dispute to arise from the insurance policy shall be referred to the Courts of Athens or Thessaloniki. 8 VEHICLE INSURANCE POLICY

9 Special terms These terms relate and apply to each individual cover you have selected. These terms apply in parallel to the general terms. In case of discrepancy, the special terms shall prevail. TYPES OF COVER PROVIDED Risks insured 1 through 20 The risks covered under the insurance policy are indicated on the first page thereof, along with an indication of the insured values agreed. Mere reference to any cover in the insurance guide shall not generate any liability for indemnification for the insurer, unless the above terms are duly met. It is hereby specified that the liability limits of the insurer in respect of each risk insured consist in the amounts indicated on the first page of the insurance policy, next to each risk insured. 1. Civil Liability in respect of the Use of Motor Vehicles The cover provided applies in respect of civil liability towards third parties for any accidents caused by the use of the insured vehicle, in accordance with the applicable insurance laws and regulations. It is further specified that the cover includes also any accidents to be caused by the insured vehicle, While it is being carried exclusively by means of a passenger vessel, train or airplane, during a routine itinerary or while it is being loaded or unloaded to or from any of the above means of transport, provided that the latter meet all statutory specifications for vehicle transportation, or by any load carried by the insured vehicle. The insured persons, whose civil liability is covered and therefore may not be considered as third parties, are: The insurance beneficiary; The insured; The owner, legitimate possessor and legitimate driver of the insured vehicle; The legal representatives of the legal entities insured or of any companies which have not yet acquired legal personality. The cases provided for: 1. In the applicable insurance laws and 2. In Article 11 of the general terms of this policy, are excluded from the insurance cover provided hereunder Expansion of the insurance for civil liability to cover any damages caused by Towed Vehicles (trailers) 1. The cover provided for civil liability in respect of the use of motor vehicles may be expanded to cover any accidents caused by non-automobiles, while these are being towed by the insured vehicle. 2. Such expansion applies only if the risk insured is indicated on the first page of the insurance policy as Civil Liability arising from the use of the Insured Vehicle or from a Towed Vehicle, along with the code Ρ2, Ρ4 or Ρ6 indicated next to the vehicle use, which corresponds to one-axled, two-axled or three-axled trailers respectively. 3. The total liability of the insurer for the insured vehicle (towing unit) and the trailer is limited to the insured values of the civil liability arising from the use of the vehicle (Bodily Injuries and Material Damage), as same are indicated on the first page of the policy. Such expansion of the civil liability cover applies on the following conditions: 1. The towed vehicle (trailer) meets all safety requirements and standards (e.g. reflex reflectors, position lights, volume lights, braking lights etc.) provided for in the law and is supplied with the proper vehicle registration certificate, where this is required under the law. 2. The insured vehicle (towing unit) has the traction power to tow the specific trailer according to the manufacturer s specifications and is duly supplied with a tractor s license. The cases set out: 1. In the applicable insurance laws and 2. In Article 11 of the general terms hereof, save for the case where another vehicle is towed as per para of that article are excluded from the cover. Moreover, civil liability for damages caused by the trailer while it is being operated or used as machinery is also excluded, unless the towing unit is covered for civil liability arising from its use as machinery and this is clearly indicated on the first page of the insurance policy. 2. Expired Driving License The cover provided applies also in respect of any bodily injuries or material damages caused to third parties by the insured vehicle while it is being driven by a person whose driver s or operator s license has expired at the time of the accident. It is further specified that the insured value indicated on the first page of the insurance policy in respect of the specific cover shall apply accumulatively for any Bodily Injuries and Material Damages. 9 VEHICLE INSURANCE POLICY

10 The cover applies on the following conditions: The license has been effective at least six (6) months prior to the date of the accident and The license was renewed within two (2) months from the date of the accident. All cases set out in Articles 11 and 12 of the general terms hereof, subject to the amendments to para as above, are excluded from the cover. 3. Material Damage caused by Uninsured Vehicles The cover provided applies in respect of any material damage to be sustained by the insured vehicle in case of collision with a vehicle which is uninsured at the date of accident occurrence and at least six (6) months prior to such date. The cover applies provided that: 1. There has been a collision between the insured vehicle and the uninsured vehicle that caused the damage; Any accidents caused otherwise than by way of collision between vehicles are not covered. 2. The details of the uninsured vehicle as well as those of its driver and owner are known. 3. The accident was caused by exclusive fault of the driver of the uninsured vehicle, and such fault arises beyond doubt and is officially certified (e.g. in the criminal file or the Traffic Police report), and the police or other competent authority have been notified at the place of the accident and attend to the matter. 4. The insurance beneficiary / insured has not filed a lawsuit claiming damages from the persons responsible for the accident. The same applies if such lawsuit is subsequently waived. 5. The accident has occurred within the Greek Territory and the uninsured vehicle bears Greek number plates. The cases set out in Articles 11 and 12 of the general terms hereof are excluded from the cover. 4. Driver s Accidents The cover provided in respect of bodily injuries sustained by the legitimate driver of the insured vehicle applies on the following conditions: The injuries were caused as a direct result of a traffic accident, while the driver was using the insured vehicle and They have caused as a direct result the driver s death or disablement, and such result has occurred within one year from the accident. 1. The accident was the result of a pre-existing medical condition of the insured driver; 2. The accident was caused while the driver was for any reason outside of the passenger cabin of the insured vehicle. 3. All cases provided for in Articles 11 and 12 of the general terms hereof, save for para Cover for hospital treatment 1. The insurer is liable to cover the following expenses, provided they are incurred inside a hospital or clinic: Hospitalization expenses, i.e. hospital accommodation and alimentation; Hospital and surgical expenses, i.e. physicians fees (surgeons, anesthetists, etc.), private nurse s fees only against the issue of receipts for services rendered, as well as health care expenses, including various hospital services, medicines administered by prescription of the hospital and used inside the hospital, expenses incurred for blood and blood plasma, oxygen, x-rays, laboratory and other diagnostic tests, surgical bandages, splints, plaster, crutches, metal plates. 2. If the aforementioned expenses are covered in their entirety by a social security organization, the insurer is liable to provide a sixty euro ( 60.00) indemnity for each day of hospitalization, up to ten (10) days. If the social security organization covers only part of the expenses, the insurer is liable to cover the difference between the total expenses incurred and the amount paid by the social security organization. 3. Where hospitalization takes place in Greece the insurer is liable to cover 100% of the expenses. The insured is liable to furnish to the insurer the original documentation of expenses. 4. Where hospitalization takes place abroad, the insurer is liable to cover 80% of the aforementioned expenses, provided that the insured driver provides the insurer with proper hospitalization documentation and the original payment receipts, duly certified by the Greek consulate. The indemnification is payable in euro, at the insurer s headquarters. The indemnification amount is calculated based on the official price at which the respective currency is sold by Bank of Greece as at the date indicated on the payment receipt issued by the hospital. 5. The cover provided for hospital treatment in all cases set out above applies in respect of a minimum hospitalization period of over three (3) days, save for the cases of fracture. 6. The insurer can at its own cost arrange for the examination of the insured driver any time during his hospitalization by a physician appointed by the insurer. If such examination is denied, the insured forfeits the right to receive indemnity. It is further noted that if the insured vehicle is covered under a SMART insurance scheme, the cover for hospital treatment provided for in para shall not apply. 10 VEHICLE INSURANCE POLICY

11 4.2. Death of the driver of the insured vehicle 1. If the accident has caused the death of the insured driver, the insurer is liable to pay to the latter s successors as indemnity the total amount indicated as insured value on the first page of the policy. 2. Such indemnity is payable provided that the insurer has been furnished the following documentation: (a) Certification of death issued by the competent Registrar s Office; (b) Death certificate; (c) Certificate of the competent tax office as to proper declaration of the insurance indemnification by the driver s successors; (d) Certificate of inheritance or certificate of next of kin and certificate of non-publication of a will; (e) Traffic Police Report. The insurer reserves the right to request any additional legal documentation Cover for permanent disablement (total or partial) Permanent disablement is distinguished into total and partial disablement. 1. Total disablement consists in the following: (a) Permanent total loss of the function of: both eyes or both arms or both hands or both shanks or both legs, or of one arm and one shank or one leg and one hand or one hand and one shank or one arm and one leg; (b) Incurable insanity which renders the person unable for any occupation or work; (c) Total paralysis. In case of permanent total disablement, provided that this condition is considered as irreversible, the insurer is liable to pay the amount indicated as insured value on the first page of the policy. 2. Partial disablement is any condition which does not constitute total disablement, yet limits for life the insured driver's ability to engage in any productive work. The indemnification payable in case of permanent partial disablement consists in a rate of the amount indicated on the first page of the policy, according to the following table: Type of injury Right Left Total loss of arm or hand 60% 50% Total loss of shoulder movement 25% 20% Total loss of ancon or wrist movement 20% 15% Total loss of thumb or index finger movement 30% 25% Total loss of three fingers, excluding the thump or index finger 25% 20% Total loss of the thumb and one finger other than the index finger 25% 20% Total loss of the index finger and one finger other than the thumb 20% 15% Total loss of the thumb 20% 15% Total loss of the index finger 15% 10% Total loss of the middle finger or the annular finger or the little finger 10% 8% Total loss of two little fingers 15% 12% Partial leg mutilation including all toes 30% Total loss of the shank or leg 50% Fracture of the shank or the leg not fully restored 25% Fracture of the knee cap not fully restored 20% Fracture of the tarsus not fully restored 15% Total loss of hip or knee movement 20% Total loss of the big toe 5% Total loss of one toe 3% Leg shortened by at least 5 cm. 15% Total loss of one eye or reduction of sight by half in both eyes 25% Incurable total loss of hearing in one ear 15% Incurable total loss of hearing in both ears. 40% Fracture of the lower jaw not fully restored 25% Anchylosis of part of the spine along with distortion 40% Rib fracture with distortion of the thorax and organic disorders 20% 11 VEHICLE INSURANCE POLICY

12 In the table above, where right and left parts of the body are distinguished, the respective rates apply conversely in respect of left-handed persons. In any case of permanent partial disablement not specifically mentioned herein, the indemnity payable consists in a rate of the amount indicated on the first page of the policy equal to the rate by which the insured s general ability for work has been diminished for life. Such rate is defined based on general criteria rather than based on the profession exercised by the insured driver before the accident. Where the effects of the accident are rendered more serious as a result of pre-existing mutilation or physical defect, the indemnity payable is calculated based exclusively on the damage caused directly by the accident rather than based on any more extensive damage caused indirectly as a result of such pre-existing condition. In case of anatomic or functional loss of multiple organs or parts of the body, which does not lead to permanent total disablement, the indemnity payable is defined as the aggregate of the rates corresponding to each injury, as same are indicated in the table above. The total indemnity payable may under no circumstances exceed the insured value applicable in respect of permanent total disablement Insurance cover in respect of non-hospital health care expenses The insurer is liable to indemnify the insured driver based on original cost documentation adduced, all health care expenses incurred as a result of the accident, e.g. cost of medicines, x-rays, drip, blood, splints etc., up to the insured value indicated on the first page of the policy Multiple claims for indemnification 1. Where as a result of an accident multiple claims for indemnification arise in respect of: (a) Permanent total disablement and (b) death, the insurer is liable to provide indemnification in respect of only one claim. 2. In the event that following payment of indemnity by the insurer in respect of permanent partial disablement, the insured sustains permanent total disablement or dies as a result of the accident within one year from the date of the accident, the insurer will be liable to pay the difference between the indemnity paid for permanent partial disablement and the indemnity payable for permanent total disablement or death, if the latter is a higher amount. 5. Glass breakage The cover provided applies in respect of any damage caused to the glasses of the insured vehicle, specifically to the windscreens, window glasses or glass sun roof. Moreover, cover is provided for any membranes incorporated in the glasses and any rain sensors, where replacement thereof is required as a result of the replacement of the glasses. It is further specified that in the event that glass breakage concurs with any other risk insured (e.g. partial theft, fire, own damage etc.) glass breakage is covered in priority against any other risk, which is indemnified only in respect of the excessive (non-indemnified) damage. 1. Damage to or breakage of glasses caused during execution of repair works at the vehicle or during the removal or reinstallation of the glasses; 2. Damage to or breakage of mirrors, lights or indicators; 3. Damage to any window, windscreen or the roof, provided they are not made of glass, but of other synthetic material (transparent plastic etc.); 4. Damage to the glasses of open-type vehicles (cabriolet), which are inseparably connected to the roof, in a manner that their replacement requires essentially the replacement of the roof; 5. Damage caused as a result of a traffic accident for which the insured or insurance beneficiary bears no responsibility; 6. Total destruction of the insured vehicle (i.e. where repair is financially disadvantageous or technically dangerous); 7. All cases provided for in Articles 11 and 12 of the general terms hereof, save for: The case of earthquake, flood, storm and thunder rain as per para. 11 and 15 and The cases set out in paras and Earthquake The cover provided applies in respect of material damage caused to the insured vehicle as a direct result of earthquake or fire which was caused as a result of earthquake. The cases set out in Articles 11 and 12 of the general terms hereof are excluded from the cover, save for: The case of earthquake, as per para. 11 and 15 and The cases set out in para Fire The cover provided applies in respect of material damage caused to the insured vehicle as a result of fire, thunder, explosion or spontaneous ignition. 12 VEHICLE INSURANCE POLICY

13 It is further specified that the cover provided applies also in respect of any material damage caused to the insured vehicle as a result of fire or explosion which was caused by: malicious acts, or leakage of liquid gases used for the vehicle s movement or function. In case of fire caused as a result of the vehicle s collision, drift, overturn or collapse, the indemnity payable in respect of the fire is limited to the vehicle s value right before the fire burst out. 1. Damage caused to the insured vehicle while it is stolen, provided that the vehicle is not covered for total theft; 2. All cases provided for in Articles 11 and 12 of the general terms hereof, save for: The cases set out in para and Fire, explosion or damage caused as a result of leakage of liquid gases used for the vehicle s movement or function as per para Terrorist acts The cover provided applies in respect of material damage caused to the insured vehicle as a result of fire, explosion or other causes due to terrorist acts. The cases set out in Articles 11 and 12 of the general terms hereof are excluded from the cover, save for: The cases of terrorist acts, as per para. 11 and 13 and The case of explosion or flame as per para Civil Liability in respect of Fire The cover provided applies in respect of the civil liability of the insured persons to indemnify any third parties for material damage caused as a result of fire transmitted by the insured vehicle. The insured persons are those indicated under the insurance cover titled Civil Liability in respect of the use of Motor Vehicles (insured risk 1 of these special terms). All cases set out in Articles 11 and 12 of the general terms hereof, save for the case of fire transmitted by the insured vehicle as per para , are excluded from the cover. 10. Total Theft Cover is provided in respect of total theft of the insured vehicle. Total theft is considered as the total loss of the vehicle, provided that the latter is not located within sixty (60) days or it is located within that time limit yet with damages and the cost of repair exceeds the vehicle s current market value. The insurer s liability for indemnification takes effect sixty (60) days from the filing of a criminal complaint with the competent police authority in respect of the theft. Additional obligations of the insured in case of risk occurrence 1. The insured and/or owner of the insured vehicle is liable to promptly file a criminal complaint with the competent police or other authority in respect of the theft. Upon lapse of sixty (60) days from the date the criminal complaint was filed the insured is liable to furnish to the insurer a certificate issued by the competent authority, stating that the complaint is pending and the vehicle has not been located. The insured may not waive the complaint even after indemnification is paid, or he will be liable to refund the insurer with the indemnity received. 2. Prior to payment of any indemnity by the insurer the insured and/or owner of the insured is liable to: (a) Provide special irrevocable authorization and mandate to the insurer, by means of a notarized power of attorney, to sell the vehicle to any third parties when (and if) it is located, and maintain the sale proceeds to its own benefit. Such power of attorney shall provide for the execution of a poll deed by the insurer whereas all costs to be incurred for execution thereof shall be borne by the indemnity beneficiary. (b) Provide the insurer with proper certification that the insured vehicle was duly declared with the competent tax authority and all circulation taxes duly paid. (c) Submit with the insurer a request for insurance cancellation, where signature originality will be officially certified, as well as such other documentation or authorization as may be requested and necessary for the transfer of the stolen vehicle, if and when it is located. 3. If the insured vehicle is located after indemnification has been paid by the insurer, the insured or the vehicle owner is liable to (a) promptly notify the insurer as soon as he gains knowledge and (b) state to the insurer in writing, within fifteen (15) days, whether he wishes to keep the vehicle and return the indemnity received. Upon expiry of the fifteen (15) - day time limit, the insured forfeits this option. 1. The insured vehicle has been stolen by any person related to the insured or the insurance beneficiary by any proximity or any employment relationship or partnership of any kind or by way of a project assignment contract, or by any person who acts as an agent of the insured or serves the insured's general interests. 13 VEHICLE INSURANCE POLICY

14 2. In case of damage to or loss of parts or components of the insured vehicle, caused while the latter was stolen. 3. All cases provided for in Articles 11 and 12 of the general terms hereof. 11. Partial Theft The cover provided applies in case of theft of any parts or components from the interior or exterior of the insured vehicle, which are affixed to its body and essentially required for its movement or function. It is further specified that the theft of parts or components form the vehicle s interior is only covered if the vehicle has sustained burglary, provided there are evident signs thereof. Theft of the Audio System and Global Positioning System (GPS) Cover is also provided in case of theft of the vehicle s radio / cassette player or CD player, provided that such cover is mentioned on the first page of the policy with the indication Theft of Audio System. Such cover applies also to any CB installations, provided they are legitimately possessed by the insured. Moreover, the cover applies also in case of theft of the navigation system, provided that such system was installed and incorporated in the vehicle by the manufacturer or an authorized agency and such cover is included in the first page of the policy with the indication Theft of GPS. Damage caused during Burglary Cover is also provided in respect of any damages caused to the insured vehicle during an attempt to break and enter into the passenger cabin or to remove the radio / cassette player, CD player, CB or GPS, provided that such cover is included in the first page of the policy with the indication Damage caused during Burglary. The maximum amount of indemnity is seven hundred and fifty euro ( ), save where the insured vehicle is covered for own damage, in which event the excessive damage will be indemnified in accordance with the provisions on insured risk 15 Own Damage of these special terms. Additional obligations of the insured in case of risk occurrence Promptly after the theft or the attempted theft or burglary of the insured vehicle the insured is liable to file a criminal complaint against the perpetrators with the competent authorities. His entitlement to indemnification arises after such complaint has been duly filed. 1. The insured vehicle has been stolen by any person related to the insured or the insurance beneficiary by any proximity or any employment relationship or partnership of any kind or by way of a project assignment contract, or by any person who acts as an agent of the insured or serves the insured's general interests. 2. Damage caused to an open-type vehicle (cabriolet), which is not duly declared with the authorities nor indicated as such on the first page of the policy. 3. All cases provided for in Articles 11 and 12 of the general terms hereof. 12. Natural phenomena causing massive destruction The cover provided applies in respect of material damage caused to the insured vehicle exclusively as a direct result of flood, storm, thunder rain, tornado or hurricane, provided that the latter has caused massive destruction. Additional obligations of the insured in case of risk occurrence The insured is liable to furnish to the insurer a certificate of the National Meteorological Service or other competent authority, evidencing that the above phenomena have actually occurred. 1. Damage caused as a result of landslide or hail; 2. Damage caused to non standard components and equipment of the insured vehicle; 3. Damage caused as a result of mechanical failure of the insured vehicle, due to frost; 4. In respect of the insurance of refrigerator trucks or heat chambers, or in case of damage to cooling or heating equipment and installations in general, from any cause; 5. All cases provided for in Articles 11 and 12 of the general terms hereof, save for the case of flood, storm, thunder rain, tornado and hurricane as per para Exemption per risk The insured participates in each risk by the amount indicated as exemption on the first page of the insurance policy. 13. Hail The cover provided applies in respect of material damage caused to the insured vehicle as a result of hail. Additional obligations of the insured in case of risk occurrence The insured is liable to furnish to the insurer a certificate of the National Meteorological Service or other competent authority, evidencing that the above natural phenomenon has actually occurred. 14 VEHICLE INSURANCE POLICY

15 1. Damage caused to non standard components and equipment of the insured vehicle; 2. Damage caused as a result of mechanical failure of the insured vehicle, due to frost; 3. In respect of the insurance of refrigerator trucks or heat chambers, or in case of damage to cooling or heating equipment and installations in general, from any cause; 4. All cases provided for in Articles 11 and 12 of the general terms hereof, save for the case of hail as per para Airbags - Safety Belts The cover provided applies in respect of material damage to the airbag system and/or safety belts of the insured vehicle caused exclusively as a direct result of a traffic accident (collision, impact, drift, overturn or collapse of the vehicle). 1. The cost of replacement of the airbag electronic control unit or other components, after expiry of the period of safe function defined by the manufacturer of the vehicle or the airbag system; 2. In case of total destruction of the insured vehicle (i.e. where repair is financially disadvantageous or technically dangerous); 3. All cases provided for in Articles 11 and Own Damage The cover provided applies in respect of material damage caused to the insured vehicle as a result of collision, impact, drift, overturn or collapse of the vehicle, due to a traffic accident. The cover further applies in respect of material damage caused to the insured vehicle while it is being carried exclusively by boat, train or airplane, or while it is being loaded or unloaded to or from any of the above means of transport, provided that the latter meet all statutory standards for vehicle transportation. In case insurance cover is provided in respect of: α) Total theft, additional cover is provided in respect of any damage caused to the insured vehicle while it is stolen, in accordance with the terms of the cover for total theft. (b) Partial theft, additional cover is provided in respect of any damage caused to the insured vehicle during an attempted burglary or attempted removal of any parts or components thereof, in accordance with the terms of the cover for partial theft. It is further specified that in this case, the cover for partial theft applies in priority up to the insured value agreed, whereas any excessive damage is indemnified under the cover for own damage, following deduction of the amount of exemption. Additional obligations of the insured in case of risk occurrence In case that damage has been caused to the insured vehicle while it was stolen or during an attempted theft or burglary, the insured is liable to file a criminal complaint against the perpetrators with the competent authorities. His entitlement to indemnification arises after such complaint has been duly filed. 1. Damage to non standard components and equipment of the insured vehicle; 2. Damage to the tires and rims of the insured vehicle, provided it has not concurred with other damage to the vehicle; 3. In respect of the insurance of refrigerator trucks or heat chambers, or in case of damage to cooling or heating equipment and installations in general, from any cause; 4. Damage caused while the vehicle is being driven by a person under the age of 23 or a person whose driving license has been valid for less than two (2) years since the date of issue, regardless of whether the driver bears any responsibility for the accident. It is explicitly agreed that if it has been duly declared that the insured vehicle will be driven by a young or new driver, this exclusion shall continue to apply and that the declared capacity of the driver and the relevant charge of additional premium relates exclusively to the driver s civil liability towards third parties. This exclusion shall not apply where the insured, as same is indicated on the vehicle s registration certificate, is a Legal Entity of any legal form. 5. All cases provided for in Articles 11 and 12 of the general terms hereof. Exemption per risk The insured participates in each risk by the amount indicated as exemption on the first page of the insurance policy. 16. Car Rental as a result of Own Damage The cover provided applies in respect of the vehicle s rental expenses to be incurred by the insured in case of occurrence of Own Damage. The indemnification amount may not exceed thirty euro ( 30.00) daily and is provided for a term of twenty (20) days, unless the vehicle s repair is completed earlier. Observations 1. The term of lease is defined by the surveyor superintending the vehicle's repair. Such term is calculated based on the actual number of days required for the vehicle's repair rather than based on the number of days it remains stationed at the workshop. 15 VEHICLE INSURANCE POLICY

16 2. Payment of the indemnity is conditional upon delivery to the insurer of the original receipt for services rendered and of the lease agreement. All cases provided for in Articles 11 and 12 of the general terms hereof and in the exclusions from the cover for Own Damage (insured risk 15 of these special terms) are excluded from the cover. 17. Insurrection - Strikes - Riots The cover provided applies in respect of material damage caused to the insured vehicle during any insurrection, strike, riots or civil commotion. All cases set out in Articles 11 and 12 of the general terms hereof, save for the case of insurrection, strike and riots as per para are excluded from the cover. 18. Malicious acts The cover provided applies in respect of material damage caused to the insured vehicle as a result of a malicious act. Additional obligations of the insured in case of risk occurrence Promptly after the incident the insured is liable to file a criminal complaint against the perpetrators with the competent authorities. His entitlement to indemnification arises after such complaint has been duly filed. 1. The damage has been caused by any person related to the insured or the insurance beneficiary by any proximity or any employment relationship or partnership of any kind or by way of a project assignment contract, or by any person who acts as an agent of the insured or serves the insured's general interests; 2. All cases provided for in Articles 11 and 12 of the general terms hereof, save for the case of malicious acts as per para Civil Liability in respect of the use of the vehicle as machinery The cover provided applies in respect of the civil liability of the insured persons to indemnify any third parties for bodily injuries or material damage caused by the insured vehicle while it is being operated as machinery. The insured persons are those indicated under the insurance cover titled Civil Liability in respect of the use of Motor Vehicles (insured risk 1 of these special terms). 1. Damage caused as a result of ground collapse or landslide, or pollution of the water or other liquids; 2. Damage caused to any kind of underground, ground or overhead cabling, piping or tubes, e.g. piping etc. used for the transfer of waste, power, gas, water or other liquids of any kind, either fuels or otherwise, and any further damage caused as a result thereof; 3. Damage caused to bridges, weight bridges, over-ground or underground roads / crossings / bridges or to anything lying underneath them, as a result of vibration or of the weight of the insured vehicle or of any load carried by the latter; 4. Damage caused while the insured vehicle stands on a platform or scow or while it is being loaded or unloaded to or from a platform or scow; 5. Damage caused as a result of the use of the insured vehicle in the execution of works, where such use exceeds the vehicle s tolerance capacity as same is defined by the manufacturer; 6. All cases provided for in Articles 11 and 12 of the general terms hereof, save for the case laid down in para Domestic Pet Accident The cover provided applies in respect of injuries suffered by and/or death of a pet caused exclusively as a direct result of a traffic accident (collision, impact, drift, overturn or collapse of the insured vehicle), irrespective of whether the vehicle driver is responsible for the accident, subject to the following cumulative conditions: it is proved (using all legal means of proof) that, at the time of the accident, the pet is being transported in the passenger cabin of the insured vehicle; it is proved (using all legal means of proof) that the pet is owned by the party to the insurance contract, whose civil liability is covered by this policy, or by his wife / her husband or by the children of the above insured persons; that the injuries suffered by the pet are caused immediately, while its death may occur within one month of the date of the accident at the latest. It should be noted that the cover of injuries include any doctor fees, surgery expenses, X-rays, medications and euthanasia expenses, if necessary, caused as a direct result of the accident; these expenses shall be paid by the company upon submission of original receipts. The insurance amounts, during the annual term of the policy, are as follows: for injuries, up to the amount of 2,000.00; for death, up to the amount of 1, The maximum compensation limit is set to 2, That is, if the pet dies following payment of compensation for injuries, the total compensation amount to be paid for both cases on aggregate shall not exceed 2, Any accidents suffered by pets owned by third passengers being in the insured vehicle, other than the persons referred to above. 2. All cases provided for in Articles 11 and 12 of the general terms hereof. 16 VEHICLE INSURANCE POLICY