I- Subject of Cover:
The Underwriters agree to cover, by this Policy, the insured against damage as prescribed in the Schedule and Special Conditions.
These Covers are granted but subject to the exclusions mentioned in paragraph II hereinafter and within the limits, by loss for each category of damage, sums and excesses set in the Schedule and Special Conditions.
II- Exclusions :
Apart from exclusions set out in the Schedule and Special Conditions, are excluded from guarantee of this Contract, damage resulting from:
– Intentional or fraudulent misconduct of the Insured, or caused with his complicity,
– Earthquake, volcanic blast, tidal wave, flood or other calamities,
– Foreign war (burden of proving that the damage results from a fact other than a foreign war shall be upon the Insured),
– Civil war, riots and civil commotions, acts of terrorism or sabotage, committed within planned actions of terrorism or sabotage (burden of proving that the damage results from one of these events shall be upon the Insurer),
– Damage due to direct or indirect effects of explosion, of heat, of irradiation coming from the accumulation of atomic nuclei or of radioactivity, as well as losses due to radiation effects caused by the artificial acceleration of particles.
III- Insured’s Obligations following a loss:
In the event of a loss, the Insured must:
1. As soon as he learns of the loss and at the latest within 5 days following the loss except in the case of fortuitous circumstances or force majeure, notify the Insurer, otherwise forfeit, in writing, by registered letter to the registered office of the Insurer or verbally (article 7 of the Insurance Code).
Under the same penalties, following a theft, the due time of the notification of loss is reduced to 2 days.
2.Take all steps within his power to minimise the extent of the loss and to salvage the insured property and ensure its preservation.
3.Inform the Insurer, as soon as possible, a notification showing circumstances and known or presumed causes, nature and estimated amount of the loss, guarantees underwrote similar risks with other insurers.
4.Provide the Insurer, as soon as possible, with an estimated statement signed by the Insured himself relating to the insured property, destroyed and/or recovered,
5. Communicate, on simple request of the Insurer, without delay, the necessary documents for expertise.
6. Send on the Insurer, immediately on receipt, any notice, letter, summons, writ, extrajudicial acts or any proceedings that would be addressed or signed by the Insured himself or his agents, relating to a loss which may incur the Insured’s liability.
The Insured, who in bad faith, amplifies the estimated amount of the loss, intends destroyed items not existing during damage, conceals or removes all or part of the insured property, knowingly uses, as a justification, fraudulent means or inaccurate documentation, shall forfeit all rights to indemnify on all risks. The forfeiture is indivisible from various articles of the contract.
In the event of damage caused to the Third Party, the Insurer may not be opposed to an acknowledgement of liability or of a transaction intervened out of it. However, avowing of a material fact is not considered as an acknowledgement of liability.
In the event of theft, the due time of the notification of loss is reduced to 48 hours, and the Insured shall inform the Local Police, within 24 hours, as soon as he learns of the loss.