CONDITIONS CANCELLATION INSURANCE GENERAL CONDITIONS - CANCELLATION INSURANCE
The policy number in which INTERMUNDIAL 1-26-5252913 insurance broker, with registered office at C / Irún, 7, Madrid. Inscribed in the R.M. Madrid, page M 180.298, section 8, book 0, folio 149, volume 11.482. C.I.F.- B-81577231. Inscribed in the R.D.G.S and F.P with No. J-1541 and insurance R.C. and concerted bond according to the Law 26/06 MSRP, acts as a mediator, and is signed between TRAVEL COMPOSER, S.L.U. BILBAO INSURER and C.A. Insurance and Reinsurance ..
This insurance is only valid for bookings of air ticketing only contracted with a tour operator or service provider.
The particular conditions are reported below, repealing the provisions of the general conditions, solely on those points where there is express contradiction between the two, shall remain in force, in its entirety, the clauses of the general conditions that affect no such contradiction
1. SUMS INSURED
The limit of compensation set is the price of travel, stay or rental, consisting in the reservation made at the travel agency or similar with a maximum limit of 6,000 Euros.
To qualify for the payment of compensation is mandatory the insurance Cancellation and / or Trip Interruption for passengers on booking the trip and therefore have to pay each such insurance premium.
In the case of a guaranteed for Cancellation or Interruption of this stay because occur, the costs Criminalization or refund of the days not taken, will be distributed proportionally among the passengers included in the reservation, indemnifying only to persons who have previously paid the insurance premium.
The INSURER will pay as compensation expenses shown by the Insured by the service provider bills or similar documents, except the price of insurance is not refundable in any case. If the Insured can not prove any expenses, it shall be compensated according to the provisions expensed penalty Royal Decree Legislativo1 / 2007 of 16 November, approving the revised text of the General Act is approved for Protection of Consumers and Users and other complementary laws, Article 160, paragraph a).
The scale of penalty of Royal Decree 1/2007 covered by the policy is as follows (except the price of insurance is not refundable in any case):
- 5% (FIVE PERCENT) If the cancellation occurs between 15 and 11 days prior to the date of departure.
- 15% (fifteen percent) Between 3 days and 10 days.
- 25% (twenty five percent) Within 48 hours prior to departure.
- 100% (HUNDRED PERCENT) In case of no show at the output.
These limits are valid for all trips where not specified in the travel brochures that have costs higher than the same cancellation. If the trip has special cancellation costs, compensation will be marked in the brochure of the tour operator or organizer.
The compensation insurance cancellation of stay shall be determined from the first date of the event which prevents travel appearing in the documentary evidence.
GENERAL CONDITIONS - CANCELLATION INSURANCE
This insurance contract is governed by the provisions of Law 50/1980 of 8 October, on Insurance (BOE of 17 October) Agreement, and agreed in the General Conditions of the Insurance Contract, Specific Terms and Particular of the policy, without having valid clauses limiting the rights of policyholders not specifically accepted in writing by the same in the space provided for it in the Agreement.
Also in Article 2 of the Law of Insurance Contract it provides that the contract be valid, different clauses of the laws, which are more beneficial to the INSURED. Not require such acceptance mere transcriptions or references to legal precepts.
PRELIMINARY ARTICLE. - DEFINITIONS
This contract means:
1. INSURER: The legal person who assumes the risk contractually agreed, ie BILBAO, C.A. Insurance and Reinsurance with Address: Paseo del Puerto, 20 - 48990 Neguri - Getxo (Vizcaya). Registered in the trade register of Bilbao, 2,436 sheet, folio 103, volume 55, book of societies founded on 11- 9-1918, NIF: A-48001648.
2. Policyholder: The person, physical or legal, who, together with the insurer, signs this contract on its own behalf and / or on behalf of the Insured Group, and the corresponding obligations derived therefrom, except which by their nature must be met by the INSURED.
3. INSURED: Each person who contracts with the Policyholder a trip and / or stay, for a specified period, hotel, apartment or similar, and which must appear on the list of persons included in the insurance. The whole insured are the insured group. In the event that a person hires stay for several relatives and / or friends, each of these will become INSURED for the purposes of this insurance and therefore meet the premium.
4. BENEFICIARY: The natural or legal person who holds the right to compensation. Due to the nature of this insurance, the beneficiary will be the INSURED or their legal heirs in the event of the death, unless otherwise explicitly designated by the same.
5. ADDRESS: The habitual residence of the INSURED.
6. THIRD PARTY: Any natural or legal person other than:
6.1. The policyholder and the insured.
6.2. Spouses, ascendants and descendants of the Policyholder and the Insured.
6.3. The relatives of the Policyholder and the Insured who live with them.
7. CLAIM: Any event sudden, accidental, unexpected and alien to the intention of the INSURED, whose damaging consequences are covered by the guarantees of this policy. It is considered to constitute a single claim the set of damages arising from the same cause.
8. SUM INSURED: The amounts set out in the Special Conditions that constitute the maximum limit of compensation payable by the INSURER in case of disaster.
9. POLICY: The document containing the regulatory conditions of the insurance. They form an integral part of the policy the General Conditions; Individuals that individualize the risk; Special, if procedieren, and Supplements or Appendices are the same to complete or modify it.
10. BONUS: The price of insurance. The receipt will also include surcharges and taxes legally applicable.
11. CORREDURIA: Legal person who is responsible for mediating between the insurance company and the policyholder. In this case, INTERMUNDIAL XXI, S.L. with headquarters in Irun, 7, 28008 - Madrid. Authorized by the Directorate General of Insurance with the number J-1541.
ARTICLE 1 - OBJECT OF INSURANCE
Within the limits established in the policy and according to the risks listed in Article 2.1, the INSURER guarantees:
eleven. Reimbursement of expenses Criminalization established Special Conditions contractually payable by the insured to the Organizing tourist or promoter, with which hired the trip and / or stay for a certain period, in the case of annulment of the reservation prior to the date period start hired and stop you from making the journey.
ARTICLE 2. - RISK GUARANTEED
The risks assumed by the insurer, which will lead to reimbursement of expenses, are listed below as long as you have communication of these circumstances after booking the trip and / or stay and directly affecting the insured:
2.1.1 Serious illness or serious accident or death of:
- The INSURED, spouse, ascendants or descendants of first or second degree relatives (parents, children, brothers, sisters, grandparents, grandchildren, nieces, brothers, sons, daughters, in-laws).
- The companion of the insured, registered in the same reservation.
- Your professional substitute, provided it is essential that the post or responsibility must then be assumed by the INSURED.
- The person in charge during the journey and / or stay, custody of minors or disabled children. For this warranty to be valid will necessarily be provided at the time of the insurance, the full name of that person.
For the purposes of insurance coverage, it is understood by:
- Serious illness, impaired health, verified by a medical professional, requiring the patient to stay in bed and would involve the cessation of any activity, professional or private.
- Serious accident, any injury derived from a violent cause, sudden, external and beyond the control of the victim, the consequences of which would prevent the normal movement of their habitual residence.
This shall include the consequences of illness or accident arise after the date of accession insurance or that were pre-existing conditions, provided that such diseases are not being treated or have medical care within the 30 days preceding both the date of booking the trip, as at the date of inclusion in the insurance. Also included are the psychic diseases of a serious nature under the terms guaranteed by this coverage.
When illness or accident affects any of the persons named, other than the insured, it shall be construed as serious when it involves hospitalization or involves risk of imminent death.
2.1.2. serious damage as a result of theft, fire or flood affecting:
- The usual and / or secondary residence of the INSURED.
- The professional premises where the INSURED employed professionals or the direct operator (Manager).
And that necessarily involve the presence of the INSURED.
2.1.3. termination of employment of the INSURED, provided that the insurance did not exist verbal or written communication. disciplinary dismissal is excluded
2.1.4. Joining a new job in a different company, involving high and / or low in Social Security, with labor contract and provided that the incorporation occurs after the accession of insurance and not knowledge had in the date on which the reservation of the stay was made.
2.1.5. Call as a party, witness or juror in a court of law, except for legal professionals.
2.1.6. Call a member of a polling station.
2.1.7. Presentation tests called official opposition through a public agency after the underwriting. examinations to be held on dates prior to commencement of travel or exams opposition to the insured’s accession in after contracting the dates are not covered.
2.1.8. Cancellation by a companion, who signed the same type of service as a result of any of the causes described in the policy and traveling in the same reservation.
If the insured decides to keep hiring of stay and use solo, the insurer would take care of the additional costs the tourist organizer impute to him in concept of individual supplement.
When the cancellation had resulted in the disappearance of a group not to reach the minimum number of people required in brochure for the service by the tour organizer and this meant an additional price for the rest of the group, the insurer will charge additional costs, up to a maximum of € 60 per insured person.
In this case only it will cover an insured person because a passenger cancels any covered cause. Should this cause affects more than one insured, the compensation will be divided proportionally among all concerned.
2.1.9. Transfer trip and / or stay contracted by the insured to a third party, provided that such cancellation is provided for those guaranteed by this insurance.
The INSURER will pay the cost of this cancellation to the maximum limit of 10% of the travel and / or stay.
2.1.10. Acts of air, land or naval piracy, which INSURED impossible to start or continue your trip. terrorist acts are excluded.
2.1.11. Theft of documents or luggage INSURED impossible to start or continue their journey. Excluding theft, loss or misplacement.
2.1.12. Knowledge after the recruitment of the reserve, the tax obligation to make a parallel income tax, whose share to liquidate exceed 600 €
2.1.13. By breakdown or accident of the vehicle owned by the insured or his spouse, reliably preventing it from starting or continuing their journey.
This coverage is limited to repair bill exceeds 600 € and / or a period of more than 8 hours repair vehicle.
2.1.14. Not granting visas for unjustified reasons.
not granting visas is expressly excluded provided that the insured has not taken the necessary actions within time and manner for granting
2.1.15. Forcible transfer of work place for more than three months involving a change of residence and involves the inability to travel period.
2.1.16. Call or unexpected income within the travel dates for surgical intervention:
- The INSURED, spouse, ascendants or descendants of first or second degree relatives (parents, children, brothers, sisters, grandparents, grandchildren, nieces, brothers, sons, daughters, in-laws).
- The companion of the insured, registered in the same reservation.
- Your professional substitute, provided it is essential that the post or responsibility must then be assumed by the INSURED.
- The person in charge during the journey and / or stay, custody of minors or disabled children. For this warranty to be valid will necessarily be provided at the time of the insurance, the full name of that person.
2.1.17 Complications of pregnancy or spontaneous abortion.
childbirth and pregnancy complications are excluded from the 7th month of pregnancy and the fact that knowledge of the state of gestation same.
2.1.18. Insured medical quarantine.
2.1.19. The official declaration of disaster area in the place of residence of the INSURED or at the place of destination. Is also covered by this warranty the official statement of catastrophic zone transit point to the destination, provided that this is the only way by which to access this.
maximum amount of compensation per claim is established 30,000 €
2.1.20. Obtaining a travel and / or stay similar to the contracted, for free, in a public drawing and notarized.
2.1.21. INSURED police custody for non-criminal.
2.1.22. Summons for divorce proceedings.
2.1.23. Delivery or collection procedures for a child for adoption necessarily implying the presence of the INSURED.
2.1.24. Summons for organ transplant:
- The INSURED, spouse, ascendants or descendants of first or second degree relatives (parents, children, brothers, sisters, grandparents, grandchildren, nieces, brothers, sons, daughters, in-laws).
- The companion of the insured, registered in the same reservation.
- Your professional substitute, provided it is essential that the post or responsibility must then be assumed by the INSURED.
- The person in charge during the journey and / or stay, custody of minors or disabled children. For this warranty to be valid will necessarily be provided at the time of the insurance, the full name of that person.
2.1.25. Granting official scholarships for studies or exceeding one month and granted after booking the trip by public bodies work.
2.1.26. Any illness or accident of the insured or first-degree relative of the insured with less than 2 years old and the opinion of the medical service is not convenient implies that the realization of the trip.
2.1.27. Bereavement third degree of kinship.
2.1.28. must for presentation and / or signing of official documents within the travel period, known and communicated in writing after booking the trip call.
2.1.29. judicial declaration of bankruptcy or bankruptcy of a company that prevents the insured the development of their professional activity reported in writing after booking the trip.
2.1.30. Change holiday unilaterally imposed by the company that necessarily implies the incorporation of the insured to his job during the holidays, duly supported by accredited certificate issued by the legal representative of the company completed with the reason, date of communication this holiday change, signature, company stamp and registry information of power of attorney.
2.1.31. Extension of contract sent after the insurance. You must show a valid extension communicating the company (high or low in Social Security).
2.1.32. Force majeure, other than those mentioned above, provable by documentary evidence, not specifically excluded by the policy which necessarily entails the impossibility of making the journey.
It is understood by force majeure circumstances beyond those who invokes abnormal and unpredictable consequences of which could not have been avoided, despite having acted with due diligence (art. 159.4.b) Royal Decree Legislativo1 / 2007 of November 16, regulator package travel).
ARTICLE 3. - RISKS EXCLUDED
THIS POLICY DOES NOT COVER THE CONSEQUENCES OF THE FOLLOWING FACTS:
A) INTENTIONALLY CAUSED BY THE INSURED OR BENEFICIARIES OF THE POLICY.
B) THE USE OF TOXIC DRUGS, ALCOHOL OR DRUGS PRESCRIBED MEDICATION NOT MIND.
C) WHICH THEY ARE BASED ON AN ACT OF NEGLIGENCE OR Reckless Endangerment, AND DERIVATIVES OF CRIMINAL ACTS AND PARTICIPATION IN BETTING, ON CHALLENGES OR IN FIGHTS, except in cases of self-defense.
D) malicious acts, self-harm, suicide.
E) Epidemics and pollution.
F) INTERNATIONAL CIVIL WAR OR, with or without official declaration, SURVEYS POPULARES, insurrection, rebellion, revolution TERRORIST ACTS AND CAUSES derived from them.
G) REACTION, NUCLEAR RADIATION OR RADIOACTIVE CONTAMINATION.
H) NOT SUBJECT TO OFFICIAL BANS.
I) LACK OF OR INABILITY TO VACCINE OR MEDICAL TREATMENT SHOULD FOLLOW-UP TO TRAVEL TO INDIVIDUAL COUNTRIES.
J) NON PRESENTATION, OBLIVION AND / OR REVOCATION OF DOCUMENTS REQUIRED TO TRAVEL, SUCH AS PASSPORT, VISAS (EXCEPT NO CONCESSION DUE UNEXCUSED), BILLS OR CARNETS.
K) ANY WEATHER CONTINGENCY INVOLVING NO TO MAKE THE TRIP PLANNED FOR ACTIVITY EXCEPT FOR THE COVERAGE AREA OFFICIAL STATEMENT CATASTRÓFICA.L) THAN ANY CAUSE SHOWN BY ALL DOCUMENTS TO VERIFY THE justifi cant reason for the cancellation. M) ANY DISEASE NO GRAVE TO, as defined in Article 2.1.1., EXCEPTIONAL TO THE EXPRESSLY COVERS
ARTICLE 4 - GEOGRAPHICAL
The guarantees of this policy shall be valid throughout the World according to the contracted destination.
ARTICLE 5. EFFECT AND DURATION, FOR THE ACCESSION OF INSURANCE
5.1. For accessions INSURED occurring after the effective date of the policy, the insurance comes into force at midnight the next day of booking at the Tourist Organization or the policyholder (moment in which should hire insurance) and end on the date of completion of the trip and / or contracted stay, as specified on the voucher or contract provided by that organization, except for guarantees of assistance and repatriation will only be valid for the period of contracted stay. The guarantee cancellation fees will only be valid when signed and has been notified to the insurer at the time of registration or booking the trip. If not hired at this time, coverage will begin 72 hours after the date of hire insurance.
In the event that the insurance is not contracted at the time of booking travel, coverage cancellation fees would have no effect, but not the rest of coverage.
5.1. In the event that the policy had an earlier maturity date of completion of travel and / or stay, and if the INSURED has adhered and paid the premium, life of the policy, the insurance coverage would end on that date .
ARTICLE 6. OBLIGATIONS OF THE HOLDER, OR BENEFICIARY INSURED IN CASE OF LOSS
The insured or the beneficiary, as soon as the event giving rise to an incident occurs, you must inform the Organizing tourist or policyholder to mitigate the consequences. Always it is taken as the date of the cancellation or interruption of stay or trip that contained in the documents supporting the claim (medical certificate, death, part of hospitalization, etc ...).
If that occurs more than one source to cause an accident, always it is taken as the cause of it, the first to occur and justified by the Insured, Policyholder or Beneficiary of the policy.
The insured or the beneficiary or the policyholder, must notify the INSURER BROKER or the occurrence of the loss, within a maximum period of 7 days from its occurrence.
To receive the compensation the insured or beneficiary shall deliver the original and dated documents reasonably prove the fact that motivated the incident and that are requested by the INSURER, such as in case of:
- Serious illness or accident:
* Certified medical practitioner who has attended the person whose illness or accident claim originates. (Excluding the official medical certificate to this warranty)
* Documentation justifying the relationship to the INSURED, if any.
- Death:
* Death certificate.
* Documentation justifying the relationship to the INSURED, if any.
- Calls included in the insurance: official certificates, written communications.
- Other guarantees: Official certificates, original invoices, complaints at the police station, or any original document justifying the cause of the accident.
In any case, the INSURER request also documents submitted by the Tourist Organizer or policyholder to prove the trade date of the trip and / or stay and cost, period of the same, etc., the bill actual expenditures penalty established by the Tourist Organizer or policyholder, in accordance with existing legislation and in case of interruption of stay, supporting letter from the hotel / apartment or same day abandonment of these, as well as the actual bill expenses.
Guarantees for Assistance and Repatriation, the insured must always seek the services to your Assistance Center 24 hours INTERMUNDIAL O ASITUR.
ARTICLE 7. STATEMENTS TO PERFORM DURING ITS TERM INSURANCE AND
7. The policyholder or the insured must, during the course of the contract, inform the Insurer, as soon as possible, all the circumstances that increase the risk and are of such a nature that if they had been known by the latter when the contract was, I would not have held or would have held or would have been executed under more burdensome conditions.
7.1. The policyholder or the insured are obliged to inform the INSURER the existence of other policies, contracted with different insurers, covering the same risk effects that may occur on the same interest for an identical time.
ARTICLE 8. CLAIMS IN CASE OF RISK INCREASE
8.1.En If during the term of the policy, it was communicated to the INSURER an increase in risk, it may propose an amendment to the contract terms within two months from the day on which the increase it has been declared. In this case, the policyholder, has fifteen days from receipt of this proposal, to accept or reject it. In case of rejection or silence, the INSURER may, within that period, terminate the contract prior notice to the policyholder, giving to answer a new period of fifteen days, after which and within eight following, inform the policyholder final termination.
The insurer may also terminate the contract by writing the INSURED, within a month from the day I became aware of the increase in risk. In the event that the policyholder or the insured has not made his statement and an accident occurs, the insurer is released from its benefit, if the policyholder or the insured has acted in bad faith. Otherwise, the provision of the INSURER shall be reduced proportionately to the difference between the agreed premium and that which would have applied the true magnitude of the risk been known.
8.2. In case of aggravation of risk insurance for the time resulting in an increase in premium, and for this reason when the contract is terminated, if the increase is attributable to the insured, the insurer will fully own the premium charged and if the deterioration had occurred for reasons beyond the control of the insured, the insurer will reimburse the portion of the premium paid corresponding to the period remaining to be passing of the annuity underway.
8.3. The insurer may terminate the contract by a declaration addressed to the policyholder, within one month, starting from the knowledge of the reservation or inaccuracy of the policyholder. From the moment that the INSURER make this statement, will be owned premiums for the period underway, unless willful misconduct or gross negligence on their part.
ARTICLE 9. STATEMENTS IN CASE OF DECREASE RISK
The policyholder or the insured may, during the course of the contract, inform the insurer of all circumstances that decrease the risk and are of such a nature that if they had been known by the latter at the time the contract was, I would concluded on terms more favorable to the policyholder conditions.
In this case, at the end of the current period covered by the premium, the insurer shall reduce the amount of the future premium by the corresponding proportion, being entitled the policyholder, otherwise the termination of the contract and refund the difference between the premium paid and that he should have paid from the time of the disclosure of risk reduction.
ARTICLE 10. PERFECTION EFFECTS OF THE CONTRACT AND LENGTH OF INSURANCE
At the expiration of the period reflected in the Special Conditions, and unless it had agreed with non-renewable nature insurance, the contract shall be extended for a period of one year, so on the expiration of each annuity.
The parties may oppose the extension of the contract by written notice to the other party at within two months before the end of the insurance period ongoing notification. The tacit extension is not applicable to insurance contracts for less than a year.
ARTICLE 11. PAYMENT OF PREMIUMS
11.1. The Policyholder is obliged to pay the premium under the conditions stipulated in the policy. If regular premiums have been agreed, the first of which will be payable after signing the contract. Successive premiums must be paid on their corresponding due dates. If the policy is not no place for the payment of the premium is determined, it is understood that this has to be done at the address of the policyholder.
- Payment of premium receipts by the policyholder to the insurance agent who mediates or has mediated in the contract shall be deemed to have been made to the insurer, unless it is expressly excluded and highlighted in a special way in the Special Conditions policy.
- Payment of the amount of the premium made by the Policyholder Broker, it will not understand it made the INSURER unless, in return, the broker gives the policyholder the premium receipt of the INSURER.
11.2. In the event that the policy should not enter into force immediately, the policyholder may delay payment of the premium until the time that should take effect.
11.3. If because of the policyholder, the first premium has not been paid or the single premium has not been due, the insurer is entitled to terminate the contract or demand payment of the premium legal means based on the policy. Unless otherwise agreed, if the premium has not been paid before the loss occurs, the insurer shall be released from its obligation.
In case of nonpayment of one of the following premiums, coverage INSURER be suspended one month after the date of maturity. If the insurer does not demand payment within six months following the date of the premium, it is understood that the contract is extinguished. In any case, the insurer when the contract is suspended, may only demand payment of the premium for the current period, accounting for the fraction of time premium that has been suspended coverage.
If the contract shall have been terminated or canceled pursuant to the preceding paragraphs, the coverage will become effective at midnight on the day when the policyholder paid the premium.
ARTICLE 12. CLAIMS-PROCESSING
12.1. The insured or the policyholder must use all means at its disposal to mitigate the consequences of the accident. The breach of this duty will entitle the insurer to reduce its benefits in proportion timely, given the importance of damages resulting thereof and the degree of fault of the insured.
Always it is taken as the date of cancellation or interruption of stay that contained in the documents supporting the claim (medical certificate, death, part of hospitalization, etc ...).
If this breach occurs with the manifest intention of harming or misleading the insurer, the latter shall be released from any provision arising from the incident.
The expenses incurred by fulfilling that obligation, provided they are not inappropriate or disproportionate to the salvaged property, shall be borne by the insurer up to the limit specified in the contract, even if such expenses have not had effective or positive results. In the absence of agreement the actual expenses incurred will be indemnified. Such compensation may not exceed the sum insured.
If the INSURER, which under the contract only required to compensate some of the damage caused by the incident, shall reimburse the proportional part of the salvage expenses, unless the policyholder or the insured has acted on instructions from the INSURER, in which case it will take care of all of them.
12.2.El policyholder or the insured or the beneficiary must communicate in writing to the INSURER the occurrence of the loss within a maximum period of seven days, counted from the date of meeting him, unless a longer period is agreed in the policy, the INSURERS may claim damages caused by the lack of this statement, unless it is shown that it had knowledge of the incident by other means.
Once the casualty and within five days of the notification referred to in the preceding paragraph, the policyholder or the insured must notify the insurer in writing, the relationship existing at the time of the incident objects of destroyed, deteriorated or salvaged, with or without damage, indicating their value, and estimating the damage.
The policyholder or the insured shall also provide the insurer with all sorts of information about the circumstances and consequences of the accident. In case of violation of this duty, the loss of the right to compensation or rejection of the claim, only occur in the event of willful misconduct or gross negligence.
If there several insurers, this communication must be made to each of them, with the names of others.
12.3.Incumbe the INSURED the test is the existence of objects. However, the content of the policy will be a presumption in favor of the INSURED can not reasonably be provided when more effective testing.
ARTICLE 13. CLAIMS-DETERMINATION OF COMPENSATION
13.1.La sum insured represents the maximum limit of compensation payable by the insurer for each claim.
13.2. Insurance can not be subjected to unjust enrichment for the insured. To determine the damage will be addressed to the value of the insured at the time immediately prior to the occurrence of the accident.
13.3. If at the time of production of the loss, the insured amount is less than the value of the interest, the insurer shall indemnify the damage caused in the same proportion as that covers the insured interest.
The parties may agree to exclude the policy or after the conclusion of the contract the application of the proportional rule provided for in the preceding paragraph.
13.4. If the sum insured significantly exceeds the value of the insured, either contracting party may require the reduction of the amount and premium, INSURER shall reimburse the excess premiums collected. If the incident occurs, the insurer shall indemnify the damage actually caused.
When the Overinsurance provided for in the preceding paragraph was due to bad faith of the insured, the contract will be ineffective. The INSURER in good faith may, however, retain the premiums due and the current period.
13.5. If several insurance on the same objects and risks declared, in accordance with the provisions of paragraph 8.3., The INSURER contribute to compensation and appraisal expenses in proportion to the sum assured. If fraud had omitted this statement, and if Overinsurance the incident occurred, the insurer is not liable to pay compensation.
ARTICLE 14. PRESCRIPTION
The actions arising from the contract prescribe in the term of two years from the day that could have been exercised.
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