MOTOR INSURANCE (TRANSLATION ONLY) GENERAL CONDITIONS

Transcription

1 MOTOR INSURANCE (TRANSLATION ONLY) GENERAL CONDITIONS Subject to coverage, conditions and exclusions of this policy and endorsements attached to this policy, the Company agrees with the Insured as follows: 1. This policy will be immediately effective when the Insured has already paid the premium: Premium payment to insurance agents, employees and insurance brokers who are authorized by Company to collect premium, as well as individual or business entities whose acts are accepted by the Company as if its representative, shall be considered legitimate payment. 2. Definitions: When used in this policy or endorsement to this policy. Company means the company issuing this policy. Insured means the person named as the Insured in the Schedule. Motor Vehicle means the vehicle insured with particulars stated in the Schedule. Schedule means the Schedule of this policy. Each Accident means an event or series of events arising from one cause. Deductible means the first part of liability or loss which is covered under a coverage agreement or an endorsement to this policy which shall be borne by the insured 3. General Exclusions: This policy does not cover loss or liability arising directly or indirectly from 3.1 war, invasion, act of foreign enemies, hostilities or warlike operations (whether war be declared or not). 3.2 civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, civil commotion assuming the proportion of or amounting to a popular rising. 3.3 nuclear weapons and materials. 3.4 Ionizing, radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel and for the purpose of this clause combustion shall include any self sustaining process of nuclear fission. 4. Report of Accident: When loss or liability in accordance to the policy occurs, the Insured or the driver must report the accident to the company without delay, as well as perform necessary actions to protect his/her legal rights. The company shall reserve the right to handle the claim occurred on behalf of the Insured if the accident occurred is covered under the policy.

2 The coverage under this policy shall be in force only when the insured or the driver acts with honesty. 5. The Company s Liability in case of Claim Denial: When a claim is reported to the Company and, for whatever reason, the Company denies liability, and as a result, the Insured or the Claimant presents such a claim to the court of law or arbitrator. If the court of law or the arbitrator rules against the Company, the Company shall be liable to the Insured or the Claimant and pay compensation according to ruling of the court of law or arbitrator, together with the annum statutory interest of 15% for a default period starting from the date of claim denial. 6. Amendment: Coverage agreements and conditions of this policy can be amended by endorsement forms of the Company only. 7. Premium Discount for Good Claim Experience: 7.1 In the event the Insured has motor vehicles insured with the Company less than 3 vehicles, the Company shall allow premium discount to the Insured in steps as follows: Step 1 20 % of the premium in renewal year for that vehicle with no claim incurred to The Company in the first year of insurance. Step 2 30 % of the premium in renewal year for that vehicle with no claim incurred to The Company in the two consecutive years of insurance. Step 3 40 % of the premium in renewal year for that vehicle with no claim incurred to The Company in the three consecutive years of insurance. Step 4 50 % of the premium in renewal year for that vehicle with no claim incurred to The Company in the four consecutive years of insurance. However, the Company shall allow premium discount only if the Insured renew the insurance with the Company and only with respect to the coverage which is renewed. The term vehicle with no claims incurred to the Company shall also include vehicle with claims but such claims are caused by gross negligence of the Third Party and the Insured is able to clearly identify the Third Party involved which results in that the Company can recover the claims from that Third Party. If during the policy year that the Insured receives premium discount for good claim experience, there is a claim incurred to the Company, in the subsequent renewal year, the Company shall allow premium discount to the Insured as follows: (a) Down one step if such claim is caused by gross negligence of the insured vehicle or the Insured is not able to identify the Third Party involved; (b) Down two steps, but not exceeding normal premium in case there are 2 or more claims caused by gross negligence of the insured vehicle or the Insured is not able to identify the Third Party involved, and the total claim amount exceeds 200% of the insurance premium.

3 7.2 In the event the Insured had previous insurance insured with other insurance company and it was transferred to renew with the Company, the Company can apply the Clause 7.1 in favor. 8. Premium Surcharge for Bad Claim Experience: In the event the Insured has one or more Motor Vehicles insured with the Company and claims are filed during the year of insurance, arising from gross negligence of the insured vehicle (s) or no Third Party identified, for two or more claims with a total claim amount more than 200% of the premium, the company shall apply premium surcharge in steps as follows: Step 1 Step 2 Step 3 Step 4 20 % of the premium at renewal year; 30 % of the premium at renewal year if such claims incurred to the Company in two consecutive years; 40 % of the premium at renewal year if such claims incurred to the Company in three consecutive years; 50 % of the premium at renewal year if such claims incurred to the Company in four consecutive years; In the event the Insured had been penalized by surcharge in whatever step and in the renewal year, there are claims filed arising from gross negligence of the insured vehicle(s) or cannot clearly identify the Third Party involved for not more than two claims with a total claim amount not exceeding 200%, upon renewal, the Company will consider to apply the rate at the same level as of previous year. But if there is no claim filed or there are any claims filed but not caused by gross negligence of the insured vehicle(s) and the Insured can clearly identify the Third Party involved, upon renewal, the Company has to revise to apply the normal premium rate without surcharge. 9. Transfer of the Motor Vehicle: If the Insured transfers the Motor Vehicle to another person, it is deemed that the latter is the policy holder of this policy and the Company is liable per the insurance policy for the remaining of the policy period. However, in the event the policy is a Named Driver policy, the Insured must inform the Company on the change of the name of the driver in order for the Company to adjust the premium rate per the altered risk exposure. Otherwise, the Insured shall be responsible for the deductible per terms and conditions stipulated in this policy. 10. Arbitration: In the event of disputes, conflicts or claims arising under the terms of this policy between the claimant and the Company, and the claimant wishes to settle the disputes through arbitration, the Company shall agree and accept the arbitration process according to regulations of the Office of Insurance Commission

4 11. Interpretation of the policy: The wordings of this policy including all endorsements attached to this policy, as well as other supporting documents, shall be interpreted in accordance with the Policy Interpretation Manual as approved by the Registrar of Insurance. 12. Expiry of Policy Enforcement: This policy shall cease to be in force: 12.1 At the date and time as stated in the Schedule 12.2 Policy Cancellation Cancellation by the Company: The Company may cancel this policy by advance notice in writing of not less than 30 days sent by registered mail to the Insured at the last address made know to the Company. The policy will cease to be in force after the above dates. In such event, the Company shall return to the Insured the premium after deduction of pro-rata premium for period the policy has been in force Cancellation by the Insured: The Insured may cancel this policy by giving notice in writing to the Company. The policy will cease to be in force on the date the Company receives the cancellation notice or the date specified in the notice whichever coming after. In such event, the Insured shall be entitled to a refund premium at the rate specified below. Premium Rate Refund No. Of Days Insured % of Annual Premium No. of days Insured % of Annual Premium No. of days Insured % of Annual Premium

5 THIRD PARTY LIABILITY COVERAGE 1. Coverage Agreement: The Company shall pay compensation for damages or losses incurred to a Third Party, which shall be legally borne by the Insured as a result of accidents occurred because of the use of vehicle or the cargo or accessories of the vehicle during the insurance period, on behalf of the Insured as follows: 1.1 Liability for Loss of Life or Bodily Injury or Hygiene: The Company shall pay for the loss of life or bodily injuries or hygiene of a Third Party, which shall be legally borne by the Insured. The Company shall pay for the loss of life not less than 100,000 Baht per person.but if the death has legal dependents, the company shall pay not less than 300,000 Baht per person. The Company shall pay for Permanent Disability not less than 300,000 Baht per person. In the event a Third Party has the right to be compensated from more than 1 motor insurance policy, the Company shall pay compensation on contribution basis. The Company s liability per person shall not exceed the per-person liability limit as specified in the Policy Schedule, and the Company liability per occurrence shall not exceed the liability limit specified in the Policy Schedule. Permanent Disability refers to disability to the extent of being unable to perform the normal duty in the Insured s regular occupation or any other occupation totally and permanently. Third Party referred to under Clause 1.1 shall not include driver of the vehicle, who is legally liable, employees in the course of employment, spouse, parents and children of the driver. 1.2 Liability for Property Damage: The Company shall pay compensation for damage of property of a Third Party, which shall be legally borne by the Insured. The Company s liability shall not exceed the liability limit as specified in the Policy Schedule. The following damages of property shall not be covered: (a) Property which is owned or under care, control or possession of the Insured, or the driver, or spouse, parents or children of the Insured or the driver, Property which is legally borne by the Insured or the driver. (b) Weighbridge, vehicle bridge, railway bridge, road, race track, foot path, lawn or anything underneath such things arising from vibration or weight of the Motor Vehicle or weight of the load of the Motor Vehicle

6 (c) (d) Luggage or other property carried into the Motor Vehicle, or property whether already loaded into the Motor Vehicle or while being loaded into or being unloaded from the Motor Vehicle, or property while being lifted from one place to another place by the Motor Vehicle. Property sustained damage(s) from the leakage of chemical or hazardous goods being carried in the Motor Vehicle except that such leakage is resulting from the accident of the motor Vehicle or the leakage of gas or fuel being used to operate the engine. 2. Deductible: The Insured shall be responsible, in respect of each accident, as follows: (a) The first 2,000 Baht of loss in the event the use of the Motor Vehicle, at the time the accident occurs, is outside the scope as stated in the Policy Schedule (b) The deductible amount as stated in the Policy Schedule (c) The first 2,000 Baht of the damage to the property of a Third Party in the event that, under a Named Driver Policy, the damage is to be liable by driver whose name is not specified in the Policy Schedule In the event the Insured shall be responsible under more than one clause of Deductible, it is deemed that responsibility under each of the clauses is an additional responsibility. In the event the Insured is responsible for deductible per (a), (b), and (c), the Company shall pay the damages first. Once the Company makes the payment, the Insured is to repay to the Company within 7 days from the date the Insured is notified by the Company 3. Cost of Legal Defense: In the event the Insured in sued for compensation which is covered by the insurance, the Company will defend such suit on behalf of the Insured at the expense of the Company, unless the Company already paid the Compensation in full of total sum insured prior suing. 4. Coverage for Liability of the Driver: The Company shall consider any person driving the Motor Vehicle with the consent of the Insured as if such person were the Insured providing- 4.1 Such person shall perform as if such person were an Insured and shall be subject to the provisions of this policy. 4.2 Such person shall not be indemnified by any other policy or shall have been indemnified but is not adequate. The Company shall then be liable to pay compensation for that part which is in excess only

7 5. Coverage for Liability of Passengers: This policy shall provide coverage for liability of passenger, if the passenger is liable to the loss or damage arising out the use of the motor vehicle or its cargo or accessories, on the condition that the said passenger shall not be indemnified by any other policy or shall have been indemnified but is not adequate. The Company shall then be liable to pay compensation for that part which is in excess only. 6. Coverage for Employer: This policy shall cover the employer, who is not the Insured, if the employer shall become liable through the use of the insured Motor Vehicle by the Insured in the course of employment but only to the extent of the Insurance afforded, providing:- 6.1 The employer shall perform in accordance with the provisions of this policy. 6.2 The employer shall not be indemnified by any other policy except when indemnity received is inadequate. The Company shall then be liable to pay compensation for that part which is in excess. 6.3 This coverage shall not increase the limit of liability of the Company 7. General Exclusion: The insurance under this Section does not cover liability arising from:- 7.1 Use of the Motor Vehicle outside the territory covered. 7.2 Use of the Motor Vehicle for illegal purposes, such as robbery, burglary or drug trafficking. 7.3 Use of the Motor Vehicle for racing 7.4 Use of the Motor Vehicle for towing or pushing except a vehicle being towed or pushed that is insured with the Company or the vehicle itself is a traction engine or has brake systems jointed together. 7.5 Liability assumed under an agreement made by the driver which, in the absence of such agreement, would not have arisen. 7.6 Driving by a person who, while driving, has an alcohol content of not less than 150 milligram percent. 8. Special Provisions: Within the limit of liability stated in the Policy Schedule, the Company shall not cite the invalidity of the policy or the gross negligence of the Insured, or Clauses 7.1, 7.2,7.3, 7.4, 7.5 or the General Conditions other than Clause 3 of The General Conditions, as defense against a third party to deny liability under Clause 1.1 of this Section. Also the Company will not cite Clause 7.6 as defense against a third party to deny liability under Clauses 1.1 and 1.2 of this Section In the event the Company is not liable either by law or under the terms and conditions of this policy but the Company has made claims payment per above paragraphs of this Clause, the Insured must make repayment to the Company in full amount within 7 days after being notified by the Company.

8 COVERAGE FOR THEFT AND FIRE 1. Coverage Agreement: Theft and Fire Damage to the Motor Vehicle: Theft: The company will pay compensation for loss of the Motor Vehicle or part of it, including equipment, accessories or fixture, which are standard equipped from the car assembly factory or dealer as well as any additional equipment, accessories which the Insured has declared arising from theft, robbery, gang robbery or embezzlement, or damage to the Motor Vehicle arising from the act or attempt of theft, robbery, gang robbery or embezzlement. Fire: The Company will pay compensation for damage to the Motor Vehicle as a result of fire, directly or indirectly. 2. Compensation for Theft and Fire Damage: 2.1 In the event of the loss of the Motor Vehicle because of theft, robbery, gang robbery, embezzlement, the Company shall pay compensation in full in accordance with the limit of liability as specified in the Policy Schedule. The Insured or the Beneficiary shall then transfer rights of ownership to the Company immediately, at the expense of the Company, and it shall be deemed coverage on that Motor Vehicle lapses. In the event the Company has the Motor Vehicle returned, the Company shall notify the Insured in writing by registered mail at the latest address within 7 days from the date the Motor Vehicle is returned. The Company shall allow the Insured the following rights: Reclaim the Motor Vehicle: The Insured shall refund to the Company the paid compensation in full. If there is damage to the Motor vehicle, the Company shall arrange for the Motor Vehicle to be repaired prior to returning to the Insured Waive the right to Reclaim the Motor Vehicle However, the Insured must inform the Company the right chosen within 30 days from the date the Insured receives the written notification from the Company. If the Insured fails to inform the Company within the said time, it is deemed that the Insured does not wish to reclaim the Motor Vehicle 2.2 In the event the Motor Vehicle sustains a total loss, the company shall pay compensation in full in accordance with the limit of liability as specified in the Policy Schedule.

9 The Motor Vehicle sustains total loss means the Motor Vehicle sustains the severe damage and cannot be repaired or sustains damage not less than 70% of the vehicle value at the time of accident. In the event the limit of liability is not less than 80% of the value of the Motor vehicle during the time of insuring, the Insured or the Beneficiary shall transfer rights of ownership to the Company immediately, at the expense of the Company, and it shall be deemed coverage on that Motor Vehicle lapses 2.3 In the event the Motor Vehicle sustains damages but not at a total loss or sustains partial loss, the Company and the Insured may agree to have the vehicle repaired, or replacement of another vehicle of the similar conditions, including equipment and accessories, or monetary compensation. If there is dispute in the repair arrangement or compensation, the General Garages certified by the Office of Insurance Commission are to be used for the repair. Limit of Company s liability: In the event it is necessary to import spare parts, the company s liability shall not exceed the imported price via sea transportation. 3. Care and Removal: When there is fire damage to the Motor Vehicle covered under this policy, the Company shall be responsible for the cost of care and removal of the vehicle from the date of the accident until repair is completed or compensation is paid, but not exceeding 20% of the repair cost. 4. Waive of subrogation: In the event of damage to or loss of the Motor vehicle occurring when used by any person with the consent of the Insured, the Company waives rights of subrogation against such person except the use by the personnel of the service provider in connection with car repairing, car cleaning, car maintenance or car accessories installation when the Motor Vehicle is forwarded for that service. 5. Exclusion for Theft and Fire Damage: This Insurance does not cover loss or fire damage caused by the following- 5.1 Damage or loss resulting from burglary or embezzlement, by individuals who are authorized to use or possess the Motor Vehicle according to a rental agreement, a leasing agreement, a hired purchase agreement, pawn agreement, or individuals who are entering into such agreements. 5.2 Use of the Motor Vehicle outside the territory covered.

10 Additional Benefit Conditions Personal Accident Insurance (MV 01) When use this endorsement, The Covered Persons means any driver and/or any passengers while in or driving or entering into or alighting from the Motor Vehicle. The amount of the covered passenger is stated in the Schedule of the policy. Accident means an event suddenly occurs; such occurrence caused by the external factors and give rise to the Covered Persons unintentionally and unexpected result including murder and assault. Total Permanent Disability includes disability to the extent of being unable to use hand, foot, sight of eyes totally and permanently. Loss of Sight of eye means complete blindness that cannot be cured. Permanent Disability means disability to the extent of being unable to engage in any occupation or work for remuneration totally and permanently. Temporary Disability means disability to the extent of being unable to perform duty pertaining to occupation totally for a period. It is agreed that this policy has been extended to cover as follows: The Company will pay compensation for loss or bodily injury of the Covered Person cause of the following results: Coverage 1: Loss of Life If bodily injury causes loss of life to the Covered Person within 180 days from the date of accident or causes the Covered Person to admit into the hospital as an in- patient for treatment continuously and dies from such injury, the Company will pay compensation in accordance with the Capital sum stated in the Schedule to the heir of the covered person. Coverage 2: Loss of Hand, Loss of Foot and Loss of Sight If bodily injury does not cause loss of life of the covered person within 180 days from the date of accident but does result in the Total Permanent Disability within 180 days from the date of accident or does cause the Covered Person to admit into the hospital as an in-patient for treatment continuously and causes total permanent disability, the Company will pay compensation as the follows: 100% of the sum insured for loss of both hands from the wrist joint or both feet from the ankle joint or sight of both eyes. 100% of the sum insured for loss of one hand from the wrist joint and one foot from the ankle joint. 100% of the sum insured for loss of one hand from the wrist joint and sight of one eye.

11 100% of the sum insured for loss of one foot from the ankle joint and sight of one eye. 60% of the sum insured for loss of one hand from the wrist joint. 60% of the sum insured for loss of one foot from the ankle joint. 60% of the sum insured for loss of sight or one eye. The Company shall pay for one item of loss with the greatest amount only. Coverage 3: Permanent Disability If bodily injury results within 12 months from the date of accident in Permanent Disability of the Covered Persons and such Permanent Disability has continued not less than 12 months, or if there is the medical indication point out that the covered person sustains permanent disability, the Company will pay compensation in accordance with the sum insured stated in the Schedule which shall be deducted from any amount paid under coverage 1 or 2 Coverage 4: Temporary Disability If bodily injury results within 180 days from the date of accident in temporary disability of the Covered Person or if the Covered Person has to admit into the hospital as an in-patient for treatment continuously and cause the Covered person sustains temporary disability, the Company will pay compensation periodically for the period disability exists in accordance with the amount of indemnity stated in the Schedule but not exceeding 52 weeks for each accident. The Company will not pay compensation under this coverage if the accident caused the covered Person sustaining loss under coverage 1 or 2. If loss results in Permanent Disability of the Covered Person as provided under coverage 3, the sum insured which the Company has to pay under this coverage shall be deducted from amount paid under coverage 3. Exclusion: The extension does not cover loss of life, dismemberment and disability which arises from directly or indirectly wholly or partly from the committing of felony by the Covered Person. Other Conditions: The extension under this endorsement is subject to the conditions and exclusions stated in General Condition. Medical Expenses (MV 02) It is agreed that this policy has been extended to cover as follows: The company will pay actual and reasonable medical expenses, surgical expenses and hospital service expenses incurred within 12 months from the date of accident for any Covered Person who sustains bodily injury caused by accident while in or entering into and alighting from the Motor Vehicle. The liability of the Company for each person each occurrence shall not exceed the limit of liability stated in the Schedule. The extension shall be applicable only to the Motor Vehicle as specified in this Schedule.

12 Bail Bond Insurance (MV 03) It is agreed that this policy has been extended to cover as follows: The company will bail out the Insured or any person driving the Motor Vehicle with the consent of the Insured in the event that the Motor Vehicle stated in the Schedule causes bodily injury or death to the third person and the police investigator detains such person for pending criminal proceedings. The Company will bail out such person without delay subject to an amount which shall not exceed the limit of liability stated in the Schedule for each occurrence according to requirement of the police investigator, the public prosecutor or the court until the lawsuit finished. Conditions: The extension under this endorsement is subject to the conditions and exclusions stated in General Condition of this policy. Exclusion of Terrorism (MV 30) Notwithstanding any provision to the contrary with this insurance or any endorsement thereto, it is agreed that this insurance excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any act of terrorism of any other cause or event contribution concurrently or in any other sequence to the loss. For the purpose of this endorsement, an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear This endorsement also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism. In the event any portion of this endorsement is found to be invalid or unenforceable, the remainder shall remain in full force and effect.