Customer information according to the Swiss Federal Law on Insurance Contracts (LIC) and the General Conditions of Insurance (GCI) for the Insurance of Valuables in Private Ownership Table of contents Customer information according to the Swiss Federal Law on Insurance Contracts (VVG) 2 General Conditions of Insurance (GCI) 5 Art. 1 Insured items and individuals 5 Art. 2 Insured location 5 Art. 3 Risks and losses 5 Art. 4 Insurance benefits 5 Art. 5 Contingency coverage 6 Art. 6 Deductible 6 Art. 7 Occurrence of loss 6 A Obligations 6 B Loss assessment 6 C Loss calculation 6 D Termination in the event of an occurrence of loss 6 Art. 8 Duty of care and obligations 7 Art. 9 Inception and duration of insurance 7 Art. 10 Premium payment 7 Art. 11 Premium refund 7 Art. 12 Changes in premiums or deductibles 7 Art. 13 Notifications to Zurich 7 Art. 14 Place of jurisdiction 7 Art. 15 Legal provisions 7 Art. 16 Remuneration of the broker 8 1
Customer information according to the Swiss Law on Insurance Contracts (VVG) Edition 04 The following customer information shows a clear and summarized overview of the identity of the insurer and the material content of the insurance contract (Art. 3 of the Federal Law on Insurance Contracts, VVG). The rights and obligations of the contracting parties arise from the proposal / offer, the policy itself, the contractual conditions and the applicable laws, especially the VVG. After acceptance of the proposal / offer the Policyholder will be issued with a policy, the contents of which will reflect the proposal / offer. Who is the insurer? The insurer is Zurich Insurance Company Ltd, hereinafter referred to as Zurich, with registered office at Mythenquai 2, 8002 Zurich. Zurich is a public limited company under Swiss law. Which risks are insured and what is the scope of the insurance cover? The insured risks and the scope of the insurance cover are determined by the proposal / offer or the policy and by the contractual conditions. What is the premium amount? The premium amount depends on the respective insured risks and the designated level of cover. A fee may be charged for payment in instalments. All information on the premium and any applicable fees are included in the proposal / offer or in the policy itself. Under what circumstances is the premium refunded? If the premium has been paid in advance for a specific period of insurance and the contract is cancelled before the end of the period, Zurich will refund the premium in respect of the unexpired period of insurance. The premium remains payable in full to Zurich if: the insurance benefit was provided on the basis of the cessation of risk; the insurance benefit was provided for a partial loss and the Policyholder cancels the contract during the year after the contract was concluded. Which other obligations does the policyholder have? Changes in risk: If an important fact changes during the term of the policy, resulting in a material increase in risk, it must be notified to Zurich in writing without delay. Ascertainment of the facts: The Policyholder must provide assistance for investigations relating to the insurance contract, e.g. breaches of the duty of disclosure, increases in risk, checking benefits, etc. and provide Zurich with all pertinent information and documentation or obtain such information from third parties for submission to Zurich, and authorize third parties in writing to issue the appropriate information, documentation, etc. to Zurich. Zurich is also entitled to carry out its own investigations. Insured event: The insured event must be reported to Zurich without delay. This list only contains the most common obligations. The contractual conditions and the VVG contain further obligations. When does the insurance cover begin? The insurance cover begins on the day stated in the proposal / offer or in the policy itself. If an insurance certificate or temporary cover note have been issued, Zurich will provide the insurance cover described in the guaranteed written temporary cover note in accordance with applicable law until the issuance of the policy. 2
When does the insurance cover end? The Policyholder can terminate the contract by giving notice: at the latest three months before the end of the contract or, if agreed, three months before the end of the insurance year. The termination shall be deemed valid if it is received by Zurich at the latest on the last day before commencement of the threemonth period. If the contract is not terminated, it shall be automatically extended for one year at a time. Fixed-term contracts with no renewal clause end on the day specified in the proposal / offer or policy; after every insured event for which a claim is payable, at the latest 14 days after notification that Zurich has paid; if Zurich changes the premium. In this case the notice of termination must reach Zurich no later than the last day of the insurance year; if Zurich breaches the statutory information obligations pursuant to Art. 3 VVG. The right of termination lapses four weeks after the insured has received notification of this breach, but at the latest one year after the breach. Zurich can terminate the contract by giving notice: at the latest three months before the end of the contract or, if agreed, three months before the end of the insurance year. The termination shall be deemed valid if it is received by the Policyholder at the latest on the last day before commencement of the three-month period. If the contract is not terminated, it shall be automatically extended for one year at a time. Fixed-term contracts with no renewal clause end on the day specified in the proposal / offer or policy; after every insured event for which a claim is payable, on condition that notice of termination is given at the latest at the same time as payment is made; if material risk factors have been concealed or falsely communicated (breach of the duty of disclosure). Zurich can cancel the contract: if the Policyholder is late in paying the premium, has received a reminder and Zurich does not call it in; if the Policyholder does not fulfil his/her obligation to assist with the ascertainment of the facts. Zurich is entitled to cancel the insurance contract retrospectively within two weeks after the expiry of a four-week time extension agreed in writing; in the event of insurance fraud. This list only contains the most common possible reasons for termination. The contractual conditions and the VVG contain other possible reasons. How does Zurich handle data? Zurich processes data disclosed on the policy documentation or during the course of issuing the policy, and uses them mainly for the purpose of setting premiums, providing information on risk, processing claims, making statistical evaluations and marketing purposes. The data are stored in hard copy form or electronically. Zurich shall be entitled to transfer any data that may be required for processing purposes to any third parties in Switzerland or abroad who are involved in issuing the policy, including but not limited to coinsurance and reinsurance companies, and to subsidiaries of Zurich Insurance Group Ltd located within or outside Switzerland. Zurich shall also be entitled to procure pertinent information from government offices and third parties, in particular information with respect to events leading up to the loss or damage. This consent shall be valid regardless of whether the contract is concluded. The Policyholder has the right to request that Zurich provide information envisaged under legislation in respect of the processing of data pertaining to him/her. 3
If you require help or advice quickly, our freephone number 0800 80 80 80 is available to you around the clock. If you are phoning from abroad +41 44 628 98 98. The masculine forms of personal pro - nouns and adjectives used in this document to enhance readability shall always be understood to stand for the corresponding feminine forms. The wording of the German original shall take precedence. To ensure optimum service, we record all customer service centre calls. 4
General Conditions of Insurance (GCI) for the Insurance of Valuables in Private Ownership Version 01/2006 Art. 1 Insured items and individuals Insurance coverage applies exclusively to the items specified in the policy that are the property of the policyholder, his or her family members living in the same household and the individuals specified in the policy. Art. 2 Insured location Insurance coverage applies in Switzerland, the Principality of Liechtenstein and the enclaves of Büsingen and Campione 1. at the respective permanent residence of the policyholder or in a bank vault; 2. to furs handed over for summer storage at the respective foreign location; 3. to items handed over for estimates and repairs at the location of the profes - sional provider concerned. with the exception of pictures, during temporary stays and while travelling worldwide, but for up to a maximum of one year; in the event of a change of residence in Switzerland, the Principality of Liechtenstein or the enclaves of Büsingen and Campione, during the move and at the new residence. Zurich must be notified of any change of residence within 30 days. Insurance coverage expires immediately upon the policyholder transferring his or her place of permanent residence to a foreign country or a hotel. Art. 3 Risks and losses The following losses are insured: theft, robbery, loss, misplacement, destruction and damage. The following losses are not insured: 1. Losses incurred while the insured items have been handed over to a third party, not including family members and the individuals listed in the policy (excep - tion: Art. 2 ; 2. Losses incurred through destruction or damage occurring during cleaning, repair or restoration of the insured items by a third party; 3. Losses resulting from wear and tear; 4. Losses resulting from exposure to light, chemical or climatic influences causing changes in the color of stones, paintings, furs or leather coats/jackets; paint/varnish damage to musical instruments; damage to instrument cases and instrument containers due to scratches; 5. Damage caused by vermin; 6. Losses resulting from theft or seizure by family members or individuals living with the policyholder in the same house - hold; 7. Losses resulting from embezzlement or misappropriation; 8. Losses resulting from theft from unlocked motor vehicles, caravans, mobile homes, motorboats or sailboats (concerning locked ones see Art. 4 ; 9. Losses resulting from legal collection, forced sale or confiscation by government authorities; 10. Losses resulting from war-like events, violations of neutrality, revolutions, rebellions, insurrections, civil unrest (acts of violence against persons or items resulting from riotous assembly, riot or tumult) and from measures taken against such, or resulting from earthquakes, volcanic eruptions or structural atomic nucleus changes, unless the policyholder can demonstrate that the loss did not occur in connection with these events. Art. 4 Insurance benefits The insurance covers the replacement value at the time the oss was incurred, up to the agreed sum insured for the item concerned. Sentimental value shall not be taken into account. In case of partial loss, Zurich pays the costs for partial replacement or repair plus any remaining reduction in value. 5
Special clause for jewelry If the total value of insured jewelry exceeds CHF 100,000.00 or the value of a single piece of jewelry exceeds CHF 50,000.00, Zurich may only be liable for the excess amount if the jewelry 1. was worn or personally monitored at all times, or 2. was stolen from a locked security container. Security containers are defined as: safes weighing more than 100 kg or in a safe built into the wall. The keys or codes to combination locks for the respective containers must be carefully stored in a different room or be carried by the indi - viduals responsible. Insurance coverage in vehicles and tents The maximum coverage for thefts from locked motor vehicles, caravans, mobile homes, motor boats and sailboats and from tents is CHF 20,000.00. Art. 5 Contingency coverage Contingency coverage insures expectable increases in value for the items specified in the policy. The contingency coverage is capped at 10% of the sum insured for the items specified in the policy and applies to indi - vidual items. Art. 6 Deductible The beneficiary must pay the following deductibles for each occurrence of loss mentioned below: for theft, robbery, destruction and damage, 10% of the compensation due, but a minimum of CHF 200.00; for lost or misplaced items and losses under Art. 4 c, 20% of the compensation due, but a minimum of CHF 300.00. Art. 7 Occurrence of loss A Obligations The beneficiary must immediately notify Zurich in writing about the occurrence of loss; report facts concerning the occurrence of loss and any initiation of official proceedings, providing documents concerning such to Zurich; notify the police immediately and request an official investigation in the event of theft, robbery, loss, misplacement or upon request by Zurich; d) submit all documentation (invoices, receipts, estimates, etc.) and provide any information necessary for establishing the validity of the claim for indemnity. Zurich must be permitted to conduct any kind of investigation relevant to loss assessment; e) take all measures for minimizing losses and recovering lost items that are available to the best of the claimant's knowledge and follow any instructions from Zurich; f) notify Zurich immediately if items for which compensation has been paid are recovered or information about such is obtained. The beneficiary may either repay Zurich the compensation paid for the recovered items less the amount of any reduction in value or convey title to such property to Zurich. B Loss assessment Both the beneficiary and Zurich may request the immediate ascertainment of the loss. The beneficiary must document the loss amount. The sum insured does not provide evidence of the existence or value of insured items at the time of the occurrence of loss. The loss will be assessed either by the parties themselves, by a joint expert or in an expert adjudication procedure. Either party may request the initiation of an expert adjudication procedure, with each party naming an expert in writing. These experts then select an adjudicator prior to starting the loss assessment. Each party will bear the costs of its expert, while those of the adjudicator will be borne equally by the two parties. d) Zurich may provide compensation as it wishes either in cash or in the form of a comparable item. C Loss calculation If the sum insured is less than the replacement value (underinsurance), the amount of compensation for partial loss shall be calculated using the percentage of the sum insured relative to the replacement value. Underinsurance is calculated per individual insured item. D Termination in the event of an occurrence of loss After any occurrence of loss for which Zurich made payments, 1. the policyholder may terminate the contract within 14 days of receiving notification of payment, 2. Zurich may terminate the contract at the latest when making the payment. 6
If the policyholder terminates the contract, insurance coverage expires upon Zurich receiving the termination notice. If Zurich terminates the contract, insurance coverage expires 30 days after receipt of the termination notice by the policyholder. Art. 8 Duty of care and obligations The policyholder and user of the insured items are obligated to exercise due care and take all measures called for under the circumstances to protect the insured items. Compensation may be reduced in the event of culpable violations of statutory or contractual security regulations or obligations to the extent that the occurrence or scope of loss was influenced by this. This disadvantage will not occur if the breach can be regarded as not being anyone's fault in consideration of the circumstances Missed premium payments due to the premium payer's insolvency shall not be covered by this provision, i. e. they will not be considered a non-culpable act or omission. Art. 9 Inception and duration of insurance nsurance coverage begins on the date specified in the policy. The contract is concluded for the term specified in the policy. It extends by an additional year at the end of this period unless either contracting party receives notice of termination at least three months in advance. If concluded for a term of less than one year, the contract expires on the specified date. Art. 10 Premium payment Premiums are due on the date specified in the policy for each insurance year. The contracting parties waive their right to demand payment of premium invoice balances of less than CHF 10. If the policyholder fails to meet their premium payment obligations within 30 days of the due date, a payment due notice shall be issued at the policyholder's expense advising of the consequences of any arrears and demanding payment within 14 days of the sending date of the reminder. If the reminder is unsuccessful, Zurich will be exempted from the benefit obligation as of the expiration of the reminder deadline until the premiums and expenses have been paid in full. Where premium payment in installments has been arranged, the corresponding fee is to be paid; installments which are not yet due shall be deemed to be deferred. The fee for premium payment in installments is not a component of the premium. Zurich is authorized to adjust this fee on the main premium payment date. You then have the right to change the method of payment. For this to be valid, Zurich must be notified that payment details are to be changed by no later than the premium due date. Art. 11 Premium refund If the contract is terminated, unused premium amounts for the current insurance term shall be refunded except in the following cases: the contract is cancelled due to the elimination of the risk (total loss); the contract is terminated by you within a year of contract conclusion after a partial loss. If a total loss is incurred for items specifi - cally listed in the policy, the premium for these items remains due in full for the current insurance term. Art. 12 Changes in premiums or deductibles If there are any changes in premiums or deductibles of the tariff, Zurich may require a contract adjustment beginning in the following insurance year. To this end, Zurich shall communicate the new terms of contract and new premium to the policyholder no later than 25 days prior to the expiry of the insurance year. If the policyholder does not agree with the modification of the contract, he/she may terminate the contract effective as of the end of the insurance year. If Zurich does not receive any notice of termination by the end of the insurance year, this constitutes consent to the contract modifications. Art. 13 Notifications to Zurich Notifications shall be sent to the company management in Zurich or the respective local Zurich office. Art. 14 Place of jurisdiction The policyholder or claimant may select one of the following as the place of jurisdiction for disputes arising from this contract: Zurich as the location of the head office of Zurich; the location of the Zurich branch office that is directly related to this contract; the Swiss or Lichtenstein not, how - ever, a different, foreign residence or head office of the policyholder or beneficiary. Art. 15 Legal provisions In addition to these provisions, the Swiss Federal Law on Insurance Contracts of April 2, 1908, (LIC) applies. For insurance in the Principality of Liechtenstein, the provisions of the Lichtenstein law of May 16, 2001, (VersVG) also apply. 7
Art. 16 Remuneration of the broker If a third party, e. g. a broker, is representing the interests of the policyholder with regard to the conclusion or management of this insurance contract, Zurich may remuneratesuch third party for its activities on the basis of an agreement with that party. The policy - holder may request any specific infor - ma tion in this regard from the third party, if so required. 21718-1306 Zurich Insurance Company Ltd Version 01/2006 8