| SECTION 1 GENERAL
CONDITIONS |
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| 1.1 |
Definitions : |
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For the purpose
of this Policy: |
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| "Company" |
means Asia Insurance (Cambodia) Plc. |
| "Geographical Area" |
means the area of the
Kingdom of Cambodia. |
| "Insured" |
means the person named
as Insured in the Schedule. |
| "Schedule" |
means the schedule of
this Policy. |
| "Motor Vehicle" |
means
the vehicle insured with particulars
stated in the Schedule. |
| "Each Accident" |
means
any one event or series of events
arising from one common 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. |
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| 1.2 |
General Exclusions: |
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This
policy does not cover loss or liability
arising directly or indirectly from: |
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| 1.2.1 |
war,
invasion, acts of foreign enemies,
hostilities or warlike operations
(whether war be declared or not). |
| 1.2.2 |
civil
war, mutiny, rebellion, revolution,
insurrection, riot, strike, detention
seizure confiscation or any attempt
thereat, military or usurped power,
civil commotion assuming the proportion
of or amounting to a popular rising. |
| 1.2.3 |
Nuclear weapons material. |
| 1.2.4 |
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. |
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| 1.3 |
Report of Changes: |
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Changes
made to the Motor Vehicle, engine and any
other changes of the Motor Vehicle which
increase risk shall be reported by the Insured
to the Company in writing without delay. |
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| 1.4 |
Report of Accident: |
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When
loss or liability occurs which is known
to the Insured, the Insured shall: |
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| 1.4.1 |
report to the Company
without delay |
| 1.4.2 |
forward
to the Company, immediately when received,
court summons, order of enforcement
of the court. |
| 1.4.3 |
1.4.3
give notice to the Company, immediately
when civil suit or criminal prosecution
has commenced which may confer rights
to a claim under this Policy.
If the Insured fails to perform as
provided for under this Condition,
the Company may claim compensation
for any loss arising there from unless
the Insured can prove that it was
not possible to do so.
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| 1.5 |
Handling of Claims: |
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| 1.5.1 |
the
Insured shall not consent to offer
or agree to pay any compensation to
any person without the consent of
the Company except when the Company
shall have failed to handle the claim. |
| 1.5.2 |
the
Insured shall not accept any offer
of compensation from any person without
the consent of the Company. |
| 1.5.3 |
the
Company shall have the right to take
over and conduct defense. |
| 1.5.4 |
the
Company shall have the right to settle
any claim compromise on behalf of
the Insured. |
| 1.5.5 |
the
Company shall have the right to sue
any person for indemnity for the benefit
of the Company in the name of the
Insured. For this purpose the Insured
shall provide all facts and give assistance
to the Company as is reasonable. |
| 1.5.6 |
When
the company shall have paid any compensation
up to the amount for which it is liable
under Coverage Agreements 2.1 or 2.2
before suit is filed, the Company
shall not be responsible to defend
on behalf of the Insured. |
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| 1.6 |
Report to police:
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In
case of theft or other criminal act which
may be the subject of a claim under this
Policy, the Insured shall give immediate
notice to the Police and co-operate with
the Company in securing the conviction of
the offender. |
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| 1.7 |
Right to Inspect: |
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the
Company shall have the right to inspect
the Motor Vehicle, the driver’s licence
and examine the driver at all times. |
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| 1.8 |
Driving Licence: |
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The
Insured shall have the duty to furnish evidence
to the Company to prove that the driver
at the time of accident held a valid licence
to drive the Motor Vehicle. |
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| 1.9 |
Amendment: |
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Coverage
Agreements and Conditions of this Policy
can be amended by endorsement forms of the
Company only. |
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| 1.10 |
Condition Precedent: |
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The
Company may not be liable to pay compensation
under this policy unless the Insured shall
have complied properly with the Coverage
Agreement and Conditions of the Policy. |
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| 1.11 |
Transfer of the Motor
Vehicle: |
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This
Policy shall cease to be in force when the
Insured shall have transferred the Motor
Vehicle to another person except when the
Motor Vehicle shall have passed from the
Insured by will or operation of law. In
the event the Policy shall cease to be in
force the Company shall return premium at
the rate specified below. |
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| 1.12 |
Cancellation of Policy: |
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| 12.1 |
The
Company may cancel this policy by
advance notice in writing of not less
than 15 days sent by registered mail
to the Insured at the last address
made known to the Company. In such
event, the Company shall return to
the Insured the premium after deduction
of prorata premium for period the
Policy has been in force. |
| 12.2 |
The
Insured may cancel this Policy by
giving 15 days’ advance notice
in writing to the Company and shall
be entitled to a return of premium
at the rate specified below provided
that no claim has arisen during the
current period of insurance. |
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SHORT PERIOD PREMIUM
RATE |
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No. of Months Insured |
% of Annual Premium
Retained |
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Not exceeding 1 month |
20% of
annual rate |
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Not exceeding 2 months |
30% of
annual rate |
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Not exceeding 3 months |
40% of
annual rate |
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Not exceeding 4 months |
50% of
annual rate |
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Not exceeding 5 months |
60% of
annual rate |
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Not exceeding 6 months |
70% of
annual rate |
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Not exceeding 8 months |
80% of
annual rate |
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Exceeding 8 months |
Full annual
premium |
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| SECTION 2. LIABILITY
COVERAGE AGREEMENTS |
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| 2.1 |
Liability for Bodily
Injury or Death: |
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The
Company will pay compensation on behalf
of the Insured for which the Insured is
liable by law for bodily injury to or death
of any third person caused by accident arising
out of the use of the Motor Vehicle during
the period of Insurance.
The Company's maximum liability for any
one victim per each accident in respect
of death or bodily injury US$ 5,000.00.
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| 2.2 |
Liability to Property: |
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The
Company will pay compensation on behalf
of the Insured for which the Insured is
liable by law for damage to property of
any third person caused by accident arising
out of the use of the Motor Vehicle during
the period of Insurance.
The Company's maximum liability per each
accident in respect of damage to third party’s
property US$ 5,000.00. |
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| 2.3 |
Cost of Defense: |
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If
the Insured is sued for compensation which
is covered by this insurance, the Company
will defend such suit at the expense of
the Company.
The Company's maximum liability for legal
costs incurred on behalf of the Insured
per each accident US$1,500.00. |
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| 2.4 |
Coverage of Driver: |
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The
Company will treat any person driving the
Motor Vehicle with the consent of the Insured
as if such person were an insured provided: |
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| 2.4.1 |
Such person shall perform
as if such person were an insured and
shall be subject to the provisions of
this policy. |
| 2.4.2 |
Such
person is not entitled to indemnity
under any other policy. |
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| 2.5 |
Total Aggregate Limit: |
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The
Company's maximum liability for any one
accident or series of accidents arising
out of one event and during the period of
Insurance in aggregate USD 50,000.00. |
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| 2.6 |
Deductible: |
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In
respect of any event giving rise to a claim
for indemnity against liabilities to third
person under this Section, The company will
not be liable for the first amount of such
claim specified in the Schedule as “Third
Party Excess”.
When the Company shall have paid the amount
for which the Insured is responsible, the
Insured shall payback to the Company immediately.
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| 2.7 |
Exclusion of Bodily
Injury or Death: |
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The
insurance under Coverage Agreement 2.1 does
not cover bodily injury to or death of: |
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| 2.7.1 |
the
Insured or any person in the family
of the Insured residing with the Insured. |
| 2.7.2 |
any
employee of the Insured arising out
of and in the course of employment. |
| 2.7.3 |
any
person traveling in, while entering
into or while alighting from the Motor
Vehicle |
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| 2.8 |
Exclusion of Property: |
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the
Insurance under Coverage Agreement 2.2 does
not cover damage to: |
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| 2.8.1 |
property
which the Insured or any person in
the family of the Insured residing
with the Insured owns or has care,
control, or possession. |
| 2.8.2 |
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. |
| 2.8.3 |
Property
carried in, while being loaded into
or while being unloaded from the Motor
Vehicle. |
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| 2.9 |
General Exclusions: |
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The Insured under Coverage Agreement 2.1 and 2.2 does not cover liability arising from: |
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| 2.9.1 |
use
of the Motor Vehicle outside the Geographical
Area |
| 2.9.2 |
use
of the Motor Vehicle for illegal purposes |
| 2.9.3 |
use
of the Motor Vehicle for racing, reliability
testing or speed testing in way of
sports |
| 2.9.4 |
use
of the Motor Vehicle for Towing or
pushing except a vehicle being towed
or pushed that is insured with the
Company |
| 2.9.5 |
use
by any person of garage when the Motor
Vehicle is turned over to the garage
for repair except when the Company
has ordered or consented to such repair |
| 2.9.6 |
driving
by any person who has never obtained
a license to drive any motor vehicle
or who has obtained it before but
failed to renew it in excess of 180
days or has obtained it before but
is disqualified to drive by law at
the time accident occurs |
| 2.9.7 |
driving
by any person who is under the influence
of intoxicating liquor or drug to
the extent of being unable to control
the Motor Vehicle |
| 2.9.8 |
liability
assumed under an agreement made by
the Insured which in the absence of
such agreement would not have arisen. |
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| SPECIAL PROVISION |
&In
the event of the death of any person entitled
to indemnity under this Section, the Company
will in respect of the liability incurred
by such person indemnify his personal representative
in terms of and subject to the limitations
of this Section which apply to such person. |
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| SECTION 3. PHYSICAL
DAMAGE COVERAGE AGREEMENTS |
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| 3.1 |
Damage to the Motor Vehicle: |
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The
Company will pay compensation for
any damage to or loss of the Motor
Vehicle including accessories thereon
arising during the period of insurance.
The liability of the Company shall
not exceed the limit of liability
stated in the Schedule. |
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| 3.2 |
Protection-Removal: |
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The
Company will reimburse reasonable
expenses for care or removal of the
Motor Vehicle to the nearest place
of repair when damage which is covered
by this Policy occurs but no exceeding
20% of the cost of repair. |
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| 3.3 |
Deductible: |
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3.3.1 |
General Excess |
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In
respect of any event giving rise to
the claim, the Company will not be
liable for the first amount of such
claim specified in the schedule as
"General Excess" |
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3.3.2 |
Young/Inexperienced &
Driver Excess |
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the
first amount of any claim for which
the Company is not liable under 3.3.1
will be increased if at the time of
the occurrence of the event giving
rise to the claim: |
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3.3.2.1 |
the Motor Vehicle
is being driven by a person under
20 years of age, by an additional
amount by way of the “Young
Driver Excess” specified in
the Schedule: |
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3.3.2.2 |
the Motor Vehicle
is being driven by a person who has
not held for a period of 12 months
s driving license (other than a provisional
driving license), by an additional
amount by way of the "Inexperienced
Driver Excess" specified in the Schedule. |
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In
the event of a claim under this Section,
if paragraph 3.3.1 and any or more
of 3.3.2 are applicable, the first
amount of such claim for which the
company is not liable will be calculated
cumulatively.
When the Company shall have paid the
amount for which the insured is responsible,
the insured shall pay back to the
Company immediately. |
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| 3.4 |
Compensation for damage
to the Motor Vehicle: |
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3.4.1 |
In
the event damage occurs to the Motor
Vehicle the Company shall have the
right to arrange for repair or replacement
by another vehicle of similar condition.
Also for parts and accessories of
the Motor Vehicle.
Or the Company may pay in cash as
compensation for the damage at its
discretion.
In repairing the Motor Vehicle, the
Company shall allow a garage selected
by the insured which has obtained
the consent of the Company or a garage
which has made an agreement with the
Company. |
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3.4.2 |
In
the event parts or accessories are
necessarily required to be ordered
from aboard the Company shall not
liable for more than the cost by sea
shipment. |
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3.4.3 |
In
the event of loss of the Motor Vehicle
arising from theft, robbery and gang
robbery , the Company shall pay compensation
in full in accordance with the limit
of liability under coverage Agreement,
3.1 as stated in the Schedule provided
the Insured shall make an agreement
to transfer right or ownership to
the Company immediately and it shall
be deemed coverage on the Motor Vehicle
lapses.
In the event the Company recovers
the Motor Vehicle, the Company shall
notify the Insured by registered mail
within 7 day from the date of recovery
at the last address made know by the
Insured to the Company and the Company
agrees to allow the Insured to use
rights. |
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3.4.3.1 |
to take back
the Motor Vehicle provided the Insured
shall pay back the amount of indemnity
in full to the Company .If the said
Motor Vehicle is damages the Company
shall arrange for repair at the expense
of the Company. |
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3.4.3.2 |
to waive rights
to take back the Motor Vehicle.
In such event, the Insured shall let
the Company know whether rights will
be exercised under 3.4.3.1 or 3.4.3.2
within 30 days counting from the date
of receipt of the Company’s
advice. If the Insured has not notify
the Company in exercising rights within
the said 30 days it shall be deemed
that the Insured has no desire to
exercise right under 3.4.3.1 |
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3.4.4 |
In
the event the Motor Vehicle sustains
a total loss, the Company shall pay
compensation in full in accordance
with the limit of liability under
Coverage Agreement 3.1 as stated in
the Schedule, In the event the limit
of liability is not less than 80%
of the value of the Motor Vehicle
at the time of insuring, the insured
shall transfer rights of ownership
to the Company immediately and shall
be deemed coverage on that Motor Vehicle
lapses. |
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| 3.5 |
Waiver of Subrogation: |
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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. |
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| 3.6 |
Exclusion of loss to the
Motor Vehicle: |
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This insurance does not cover: |
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3.6.1 |
depreciation or wear and
tear of the Motor Vehicle, |
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3.6.2 |
breakage
of the mechanical part of the Motor
Vehicle or breakdown or failure of
the mechanical or electrical part
of the Motor Vehicle not arising from
an accident. |
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3.6.3 |
Direct damage to the Motor
Vehicle arising from carriage of load
or number of passenger in excess of
that authorized and not arising from
an accident. |
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3.6.4 |
Damage
to tyre of the Motor Vehicle arising
from tearing or bursting unless the
tearing or bursting of such tyre arises
from collision or overturning. |
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3.6.5 |
Loss arising from loss
of use of the Motor Vehicle. |
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3.6.6 |
Damage
to lettering signs or ornamentation
which are additional to the original
of the Motor Vehicle. |
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3.6.7 |
Damage
or loss arising from theft, embezzlement
by any person who has custody or possession
of the Motor Vehicle under hire agreement,
hire purchase agreement, sale agreement
or mortgage agreement or by any person
who is entering in to such agreement. |
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3.6.8 |
Damage
or loss which arises while in the
course of transportation by water
or while being loaded into or unloaded
from any ship but this Exclusion shall
not apply to transportation in river
or inland waterways. |
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| 3.7 |
Exclusion of Use: |
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This insurance does not
cover: |
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3.7.1 |
use of Motor Vehicle outside
the territory covered. |
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3.7.2 |
use of Motor Vehicle for
illegal purposes. |
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3.7.3 |
use
of Motor Vehicle for racing, reliability
testing or speed testing in the way
of sports. |
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3.7.4 |
use
by any person of a garage when the
Motor Vehicle is turned over to garage
for repair except when the Company
has ordered or consented to such repair. |
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| 3.8 |
Other Exclusion of Use: |
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This insurance does not
cover: |
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3.8.1 |
use
of Motor Vehicle for towing or pushing
except a vehicle being towed or pushed
that is insured with the Company. |
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3.8.2 |
driving
by any person who has never obtained
a license to drive any motor vehicle
or who has obtained it before but
failed to renew it in excess of 180
day or has obtained it before but
is disqualified to drive by law at
the time accident occurs. |
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3.8.3 |
driving
by any person who is under the influence
of intoxicating liquor or drug to
the extent of being unable to control
the Motor Vehicle. |
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3.8.4 |
use
of Motor Vehicle beyond the scope
of that stated in the schedule at
the time accident occurs. |
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| 3.9 |
Care of Motor Vehicle: |
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3.9.1 |
the Insured shall maintain
the Motor Vehicle in good operating
condition. |
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3.9.2 |
the
Insured shall be responsible for additional
damage or any other accident caused
by use of the Motor Vehicle before
necessary repair or lack of arrangement
for care after the Motor Vehicle has
an accident or breakdown. |
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IMPORTANT
NOTICE |
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The Policy Wording
displayed above is meant for reference
only, and should under no circumstances
be used without the express written
consent of Asia Insurance (Cambodia) Plc. |
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