Our Wedding Personal Liability Insurance. Product Disclosure Statement and Policy Wording

Transcription

1 Our Wedding Personal Liability Insurance Product Disclosure Statement and Policy Wording

2 Table of Contents Page Product Disclosure Statement (PDS) 2 How this Insurance is arranged 2 Key Benefits of Your Policy 3 Your Choices of Cover 3 Benefit Table 3 Important Information 4 Eligibility Criteria 4 Period of Insurance 4 Costs 4 Excess 5 Cooling Off Period 5 The Code of Practice 5 Dispute Resolution 5 Privacy Notice 6 Policy Wording 8 Important Notes 8 Duty of Disclosure 8 Policy Definitions 9 The Coverage 11 Personal Liability 11 Policy Exclusions 12 General Conditions 14 Claims Procedure 16 AIG Australia Limited (AIG) ABN , AFSL

3 Product Disclosure Statement (PDS) Product Disclosure Statement (PDS) This PDS is designed to assist you in your decision to purchase Our Wedding Personal Liability Insurance. It contains information about key benefits and significant features of Our Wedding Personal Liability Insurance. The PDS also contains important information about your rights and obligations including: Cooling Off Period on page 5 Dispute Resolution on pages 5 Privacy Notice on page 6 Duty of Disclosure on page 8 If you have a complaint, our complaint procedure is detailed on pages 7. The full terms and conditions that apply to your policy are contained in the Policy Wording commencing on page 8. How this insurance is arranged Key Benefits of Your Policy Our Wedding Personal Liability Insurance provides you with with cover for the property damage and/or bodily injury and/ or medical expense caused by you, the bride, groom or an immediate family member, for which you and/or they become legally liable as a result of the wedding event. Your choices of cover This policy allows you to select the sum insured you want based on your needs. It offers three (3) level of covers you can select from, Level 1, 2 or 3. Important: The Level Options and Benefit Table set out below provide a summary of cover. Values shown in the Benefit Table are maximum amounts payable in Australian Dollars. The Level Options and Benefit Table also show the maximum amount we will pay for all claims combined under each Section. Please refer to the applicable Sections of the Policy Wording. Benefit Table Personal Liability Insurance Coverage Level 1 Level 2 Level 3 Personal Liability $5,000,000 $10,000,000 $15,000,000 This insurance is issued/insured by: AIG Australia Limited (AIG) ABN AFSL Level Bourke Street Docklands Vic 3008 AIG issues/insures this product pursuant to an Australian Financial Services Licence ( AFSL ) granted to us by the Australian Securities and Investments Commission. AIG is the product issuer of Our Wedding Personal Liability Insurance and prepared this PDS and settles claims. Our Wedding has given approval to AIG for the use of their logo and branding on this product. Cover is arranged and distributed by: Macarthur Unlimited Consulting ABN Suite 12E / 44 Oxford Rd Ingleburn NSW 2565 Date: 28 February 2014 PDS JM 12/ A&H 12/

4 Important Information This policy is subject to Terms, Conditions, Special Provisions, and Exclusions. It is important that you read the Policy Wording carefully to familiarise yourself with these provisions. Specifically, please take special note of the following matters. The Policy Wording contains a Definitions section on pages 9-11 and General Conditions that apply to this insurance on pages In relation to coverage on page 12 this policy responds in circumstances where you become legally liable for property damage, bodily injury or medical expenses. This policy will not respond where you assume liability under contract or agreement unless such liability would still be implied by law regardless of the contract or agreement. Please ensure you fully understand any contract/agreement that you enter into and the impact it may have to the coverage afforded by this policy. There are some circumstances where cover cannot be provided. These are covered in the Policy Wording. Please take special note of the Exclusions listed on pages of the Policy Wording. Eligibility Criteria Provided you pay the premium, then you will be entitled to the Our Wedding Personal Liability Insurance set out in this policy. You must be a resident of Australia to be eligible for the benefits set out in this policy. Your Wedding Event must be held within Australia You must notify us within three weeks of any material changes. You can notify us of such changes by at the following address: austadmin@aig.com or by fax at Neglecting to notify us of such changes may be a breach of this policy. Period of Insurance Subject to cancellation, your Our Wedding Personal Liability Insurance will be valid from the policy commencement date shown on the Policy Schedule, your Our Wedding Personal Liability Insurance will begin no sooner than 12 months before the date of the wedding ceremony and it will end 24 hours after the end of the wedding reception. Costs The premium under this insurance policy is solely based on the level of cover you select: Level 1, 2 or 3. The premium is payable when the product is purchased. The premium payable by you is shown in your Policy Schedule. Premiums and fees are subject to Commonwealth and State taxes and levies which include the Goods and Services Tax, Fire Service Levies and Stamp Duty which are shown on your Policy Schedule.You will also be liable for an excess if you lodge a claim under the policy. Excess You are liable for the first $100 of each and every claim you make under this policy. Cooling Off period You may return this policy to us within 14 days of purchasing, provided that no claim has arisen. We will cancel the policy and give you a full refund of premium. The Code of Practice AIG is a signatory to the General Insurance Code of Practice. This aims to raise the standards of practice and service in the insurance industry, improve the way the claims and complaints are handled and help people better understand how general insurance works. Information brochures on the Code are available upon request. Dispute Resolution We are committed to handling any complaints about our products or services efficiently and fairly. If you have a complaint: 1. Contact us on our dedicated complaints line If your complaint is not satisfactorily resolved you may request that the matter be reviewed by management by writing to: The Compliance Manager AIG Level 12, 717 Bourke Street Docklands VIC If you are still unhappy, you may request that the matter be reviewed by Our Internal Dispute Resolution Committee ( Committee ). We will respond to you with the Committee s findings within 15 working days. 4. If you are not satisfied with the finding of the Committee, you may be able to take your matter to an independent dispute resolution body, Financial Ombudsman Service (FOS). This external dispute resolution body can make decisions with which AIG are obliged to comply. Contact details are: Financial Ombudsman Service Phone: (local call fee applies) info@fos.org.au Internet: GPO Box 3, Melbourne, VIC

5 Privacy Notice This notice sets out how AIG collects, uses and discloses personal information about: you, if an individual; and other individuals you provide information about. Further information about our Privacy Policy is available at or by contacting us at or on How we collect your personal information AIG usually collects personal information from you or your agents. AIG may also collect personal information from: our agents and service providers; other insurers; people who are involved in a claim or assist us in investigating or processing claims, including third parties claiming under your policy, witnesses and medical practitioners; third parties who may be arranging insurance cover for a group that you are a part of; providers of marketing lists and industry databases; and publically available sources. Why we collect your personal information AIG collects information necessary to: underwrite and administer your insurance cover; maintain and improve customer service; and advise you of our and other products and services that may interest you. You have a legal obligation under the Insurance Contracts Act 1984 to disclose certain information. Failure to disclose information required may result in AIG declining cover, cancelling your insurance cover or reducing the level of cover, or declining claims. To whom we disclose your personal information In the course of underwriting and administering your policy we may disclose your information to: entities to which AIG is related, reinsurers, contractors or third party providers providing services related to the administration of your policy; banks and financial institutions for policy payments; assessors, third party administrators, emergency providers, retailers, medical providers, travel carriers, in the event of a claim; other entities to enable them to offer their products or services to you; and government, law enforcement, dispute resolution, statutory or regulatory bodies, or as required by law. AIG is likely to disclose information to some of these entities located overseas, including in the following countries: United States of America, United Kingdom, Singapore, Malaysia, the Philippines, India, Hong Kong, New Zealand as well as any country in which you have a claim and such other countries as may be notified in our Privacy Policy from time to time. You may request not to receive direct marketing communications from AIG. Access to your personal information Our Privacy Policy contains information about how you may access and seek correction of personal information we hold about you. In summary, you may gain access to your personal information by submitting a written request to AIG. In some circumstances permitted under the Privacy Act 1988, AIG may not permit access to your personal information. Circumstances where access may be denied include where it would have an unreasonable impact on the privacy of other individuals, or where it would be unlawful. Complaints Our Privacy Policy also contains information about how you may complain about a breach of the applicable privacy principles and how we will deal with such a complaint. Consent Your application includes a consent that you and any other individuals you provide information about consent to the collection, use and disclosure of personal information as set out in this notice. 6 7

6 Policy Wording Important Notes This document is only valid when issued in conjunction with a Policy Schedule and provided the appropriate insurance premium has been paid. It is important that you refer to the terms and conditions of this policy for full details of cover. 1) This document contains your insurance policy terms and conditions. It is important that you read and understand it and retain it in a safe place. 2) This policy responds in circumstances where you become legally liable for property damage, bodily injury or medical expenses. This policy will not respond where you assume liability under contract or agreement unless such liability would still be implied by law regardless of the contract or agreement. Please ensure you fully understand any contract/ agreement that you enter into and the impact it may have to the coverage afforded by this policy. 3) Please inform us immediately of: (a) any change in your address; and/or (b) any other changes affecting you, the bride and groom or an immediate family member which will require an alteration to the policy. We will provide you, the policyholder, the insurance described in this policy, in return for your compliance with all applicable provisions of this policy. Duty of disclosure What You Must Tell us When answering our questions, you must be honest and you have a duty under law to tell us anything known to you, and which a reasonable person in the circumstances, would include in answer to the question. We will use the answers in deciding whether to insure you and anyone else to be insured under the policy, and on what terms. Who Needs to Tell us It is important that you understand you are answering our questions in this way for yourself and for anyone else whom you want to be covered by this policy. If You Do Not Tell us If you do not answer our questions in this way, we may reduce or refuse to pay a claim, or cancel a policy. If you answer our questions fraudulently, we may refuse to pay a claim and treat the policy as never having been in existence. Policy Definitions Words with a special meaning are shown in this policy in bold, italic font. Benefit Table means the table under Key Benefits of your policy listing the level of cover provided under that section. Bodily Injury means a physical injury caused by a violent, external, sudden and visible means which occurs fortuitously whilst this insurance is in force and which results solely and directly and independently of any pre-existing condition. Bride and Groom are the individuals entering the legal contract of marriage or civil union and commitment ceremonies as part of the wedding event as listed in the Policy Schedule. Civil Union and Commitment Ceremonies means a union between any two people but not limited to intent to remain in a permanent relationship, financially interdependent; jointly responsible for common welfare, shared living quarters and permanent address, or not related by blood that would normally prevent legal marriage. Immediate Family Members means the parents, siblings and grandparents of the bride and groom. Medical Expense means the reasonable and necessary cost of the following services; a. Medical, surgical, x-ray and/or dental services b. Ambulance and/or hospital charges. Natural Catastrophe means flood, wind storm, lightning, fire, explosion, landslide, or earthquake. Occurrence means an accidental loss to a covered item or an accident including continuous or repeated exposure to similar harmful conditions which results in bodily injury or property damage. Personal Injury means injury other than bodily injury that arises out of any of the following acts: a. false arrest, false detention or false imprisonment b. malicious prosecution c. wrongful entry or wrongful eviction d. defamation, libel or slander; or e. invasion of privacy. Policyholder means a person who has completed the application form either online or sent by mail or fax to AIG, or made the application over the telephone with a AIG representative for Our Wedding Personal Liability Insurance Cover, for the policy period as specified in the Policy Schedule and who has paid the premium. Policy means: a. all the terms, conditions, definitions, exclusions, limitations and provisions contained in the section of this document titled The Coverage ; plus b. the Policy Schedule; and 8 9

7 c. any endorsements attaching to and forming part of this policy, issued by us either at inception or during the policy period. Policy Period begins on the policy Commencement date shown on the Policy Schedule and expires 24 hours after the conclusion of the wedding reception. Policy Schedule is the printed document showing the insured, issuing company and the level you have selected. It includes the policy period, limits selected, deductibles and the date, location and other details of the wedding event for which the coverage applies. Pre-existing Medical Condition means any ongoing medical condition or conditions which required medical treatment (including consultations or advice) within the 12 months preceding the policy period. Premium means the amount payable by the policyholder and shall include any and all applicable stamp duty, goods and services tax, government charges, levies and fees. Property Damage means physical injury to, destruction of or loss of use of tangible property due to an unforeseen accident. Terrorist Act means any actual or threatened use of force or violence directed at or causing damage, injury, harm or disruption, or commission of an act dangerous to human life or property, against any individual, property or government, with the stated or unstated objective of pursuing economic, ethnic, nationalistic, political, racial or religious interests, whether such interests are declared or not. You and Your means the bride, groom, policyholder as listed on the Policy Schedule and immediate family members, who may have a financial interest in and have paid for all or part of the wedding event and/or wedding services. War means war, whether declared or not, or any warlike activities, including the use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends. We, Us, and Our means AIG Australia Limited (AIG) ABN AFSL Wedding Ceremony is that part of the wedding event creates the legally enforceable contract of marriage between the bride and groom or civil union and commitment ceremonies at the address shown on the Policy Schedule. Wedding Event means a wedding ceremony and related activities which may include a rehearsal dinner that takes place no more than 48 hours before the wedding ceremony and a reception following the wedding ceremony that takes place no more than 7 days after the wedding ceremony. Wedding Supplier means a business contracted by you, the bride, groom or an immediate family member to provide goods and services associated with the wedding event. The Coverage We will provide the following coverage for your wedding event. Personal Liability We will pay up to the amount shown on the Benefit Table on page 3 for the level you have selected under this Policy for the property damage and/or bodily injury and/or medical expense caused by you, the bride, groom or an immediate family member, for which you and/or they become legally liable as a result of the wedding event. We will also pay for legal costs and expenses in defending any claim in respect to such injury or damage

8 Policy Exclusions We will not pay for: 1. Losses related to personal injury 2. Liability in respect to bodily injury to you, the bride, groom or an immediate family member 3. Bodily injury and/or property damage that take place at venues other than those shown on the Policy Schedule 4. Liability in respect of loss or damage to the property belonging to or in the care, custody, charge or under control of you, the bride, groom or an immediate family member or any person in your employment or service, other than: a. premises which are leased or rented to you, the bride, groom or an immediate family member or any person in your employment or service, and b. goods, equipment, merchandise and property other than real property subject to cover being limited to a maximum of $10,000 each occurrence and in the aggregate during any one policy period for such property damage. 5. Liability created by an agreement which would not have existed in the absence of such an agreement. 6. Bodily injury to any person caused by: a. Self inflicted injury. b. Alcohol or drugs (other than those prescribed for and taken as per the orders of a medical doctor). c. Mental or nervous disorder. d. Military operations. e. Taking part in hazardous activities, formal or informal, public or private including but not limited to: i Hunting ii Skiing or sledding iii Racing of vehicles of any kind iv Scuba diving or sky diving f. Any incidental food poisoning occurrence related to the wedding event. g. An intentional act. h. Your use or ownership of private aircraft. i. Watercraft, motorized land vehicle. j. Liquor liability causing and/or contributing to the intoxication of any person, including serving alcohol to minors. k. Bodily injury arising out of actual or threatened sexual abuse, or molestation, sexual harassment. l. Pollution. m. Bodily injury or property damage occurring on any date other than the date shown as the wedding event on the Policy Schedule. n. Wedding Suppliers Acts or omissions. o. Wedding Suppliers bodily injury. 7. Any wedding events outside of Australia. 8. Any occurrences that take place at bridal showers, announcements/engagement parties, bachelor/bachelorette parties, other parties or celebrations related to the wedding event that are not included in the definition of wedding event. 9. Any dishonest, criminal malicious or fraudulent acts or omissions, gross negligence, or wilful misconduct committed by you, the bride, groom or an immediate family member. 10. Losses directly or indirectly as the result of alcoholism, the use of intoxicating drinks or drugs (other than medication taken as prescribed by a medical practitioner, but not for drug addiction). 11. Losses directly or indirectly happening as the result of any civil or foreign war, invasion, strike, riot rebellion, civil commotion, terrorist act or confiscation by authorities. 12. Any damage caused by a natural catastrophe, atmospheric or climatic conditions, fire, water, normal wear and tear, mould and dry rot, manufacturing defects, vermin or insects, unless specifically identified elsewhere in the policy. 13. Losses directly or indirectly resulting from nuclear reaction, nuclear, biological or chemical exposure. 14. If you suffer any loss, damage or liability arising under this insurance and there is any other insurance covering the same loss, damage or liability, we will pay only the amount that is not covered by another source up to the limit shown under the Benefit Table on page 3 for the level you have selected. 15. Incidents that may result in a claim not sent to us in writing within 30 days of the expiration of this insurance. 16. Other loss, damage or additional expense that occurs after the insured wedding event. 17. Losses arising from prohibitive regulations by any Government entity. 18. Wilful or malicious acts and any acts of vandalism by persons invited to wedding event by you, the bride, groom, an immediate family member, or any wedding event guest. 19. Any circumstance manifesting itself after the date the wedding event was booked, but prior to the date of issue of the policy period. 20. Claims arising from the ownership or use of firearms, fireworks or other pyrotechnic devices or effect. 21. Liability offset by all collectible refunds of deposits

9 General Conditions Policy Commencement This policy shall not be binding until you have completed the application process and your application has been received and accepted by us. The policy will commence from the date listed on the Policy Schedule and shall remain in force in respect of all periods for which the premium has been paid and accepted by us. We may cancel or lapse this policy in the event your credit card nominated by you on your application form has been declined by the credit provider. Policy Deductible Subject to the policy limits that apply, we will pay only that part of the total of all covered loss that exceeds the deductible amount shown in the Policy Schedule. Assignment The rights under this policy or in respect of it cannot be assigned without our prior written consent. Transfer This policy cannot be transferred or assigned to any other person or property other than the one nominated on the Policy Schedule. Policy Cancellation and Changes We may cancel this policy at any time by giving you 30 days prior written notice. This notice will be posted to you at the last known mailing address. You must notify us within 30 days of any change in circumstance which will affect this insurance. Refunds Except as expressly set out in this policy, you are not entitled to a refund of the premium upon cancellation of your Our Wedding Personal Liability Insurance Cover. Concealment, Misrepresentation or Fraud Any relevant provision(s) of this policy shall be void in any case of fraud or if you at any time intentionally conceals or misrepresents a material fact concerning (i) the policy; or (ii) any claim. Australian Law The Our Wedding Personal Liability Insurance cover is governed by the laws of Victoria and any dispute or action in connection therewith shall be conducted and determined in Australia. Tax or Imposts Where we believe we will become liable for any tax or imposts levied by any Commonwealth or state government, authority or body in connection with this policy, we may adjust the premium or benefits under this policy in the manner and to the extent we determine to be appropriate to take account of the tax or impost. Currency All amounts shown in this policy are in Australian currency (AUD). If expenses or losses are incurred in a foreign currency, then the rate of currency exchange used to calculate the amount payable in Australia currency (AUD) will be the rate at the time of incurring the expense or suffering the loss. You must use all reasonable means to avoid future loss at and after the time of loss. Compliance We have no duty to provide coverage under this policy unless there has been full compliance with the duties that are detailed in each policy section. General Claims Provisions (i) You must exercise the utmost good faith in making any claim against this policy. (ii) You shall take reasonable steps to prevent or minimise any loss or claim which may be recoverable under this policy. (iii) All rights against carriers and/or bailees and/or subcontractors and/or other third parties are to properly preserved and exercised by you. Liability Except with our written consent, no person is entitled to admit liability on our behalf or to give any representations or other undertaking binding upon us. Fulfilment of Policy Terms and Conditions Fulfilment of all terms and conditions of this insurance coverage by you or anyone acting on your behalf regarding actions needed to be taken in compliance with the policy, shall be a condition to our liability to make any payment under this insurance. Our Rights To Recovery Against Others If you or the bride, groom or an immediate family member have rights to recover all or part of any payment we make under this policy, those rights become ours up to the amount we have paid. You and the bride, groom and immediate family members must do nothing after an occurrence to impair these rights. At our request, you, the bride, groom and immediate family members will bring suit or transfer those right to us and help us to enforce them. Duty To Cooperate You, the bride, groom and all immediate family members must cooperate with us in the investigation, settlement or defence of any claim or suit

10 Claims Procedure Duties After A Loss In the event of a covered loss you must do the following: 1. You must file a police report within 48 hours of discovering a covered incident (where necessary). 2. You must complete and return any claim forms and accompanying documents including the police report (where necessary), signed wedding supplier contracts, receipts and any other documents we may ask you to provide 3. Within, 14 days of making the original claim, all claim submission forms and required documents must be returned to us. 4. Take all reasonable precautions and actions to avoid further loss, destruction, damage, liability and expense. 16

11 Insurance products and services are provided by AIG Australia Limited ABN AFSL Copyright PDS JM 12/