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Application for UFO22-Yacht-Groupinsurance 2009 - www.eis-insurance.com
EIS
European Insurance & Services GmbH
Scharfe Lanke 109-131
D-13595 Berlin
Tel.: +49 (0)30 214082 0
Fax: +49 (0)30 214082 89
www.eis-insurance.com
Application & Conditions:
UFO22
Application for UFO22-Yacht-Groupinsurance 2009 - www.eis-insurance.com 1/3
European Insurance & Services GmbH Tel.: +49 (0)30 214082 0
Scharfe Lanke 109-131 Fax: +49 (0)30 214082 89
www.eis-insurance.com
D-13595 Berlin
Agency number:
Fax: +49 (0)30 214082 89
Application for UFO22-Insurance (private use)
We offter the following insurance terms and conditions for all UFO22‘s.
Complete Address of Requester
1. Name 7. Firstname
2. Street, No 8. Phone
3. Zip Code, City 9. Fax
4. Country 10. Mobile
5. Nationality 11. E-mail
6. Date of birth 12. Profession
Minutes of the consultation
13. I would like you to advise me extensively about insurance issues
(One of our members of staff will contact you as soon as possible and will advise you extensively about all of our products).
14. I choose a product according to my application. I do not wish to receive another insurance for further risks with other pro-
ducts going beyond this product. I do not desire any advice and documentation regarding the requested insurance cover. I
am aware that therefore I may not assert any claims on the basis of incorrect consultation.
Place Place Signature
Start of Insurance/Direct Debit Authorisation
15. Start of insurance - 12pm. The insurance contract is initially concluded for the agreed term of one
year. It will be renewed automatically for another year if not cancelled in accord with terms and conditions.
16. Direct debit authorisation Yes No 17. Account no. 18. Routing no.
19. Bank 20. Account holder
21. IBAN 22. BIC
Insurance Details
23. Liability Insurance (Yachts with a sail over 120m² will pay a price surcharge on liability insurance.)
24. Basis: Usual insurance-conditions for the liability insurance (AHB) as well as special conditions and
discriptions of risk (BBR) for sportboat-liability insurance.
25. Covered sum: 3 Mio. EUR overall and person and property damages
100.000,- EUR for pecuniary claims
By a brutto premium of 59,50 EUR per year
Worldwide coverage
Full cover-sum also for damage of persons
Chargefree also covering of liability claims „insured persons“ (also the crew)
Fast and costfree certify of international insurance-confirmations
Stand: 28/04/09
Application for UFO22-Yacht-Groupinsurance 2009 - www.eis-insurance.com 2/3
26. Fullcover Insurance
Basis: Based on condition of sports-yacht comprehensive insurance (SKD)
Concerning area: European inland-waters, North and Baltic Sea, as well as the complete Mediterranean and/or Atlantic
Coast up to 200 Nm
Insurance on a fixed valuation
No deductions „new for old“ on partial damages, regardless of the age of the boat
Transportrisk is included
Expenses for disposal and wreckage are covered up to an additional 100% of the insured sum
Costumer friendly claimfree discount
Fixed premium, no downgrading in claim
27. For the boat incl. equipment EUR + dinghy EUR
+ outborder engine EUR + liferaft EUR
(OB: Year of constr Engine no Capacity HP/ KW )
+ private stocks (e. g. clothing, TV, radio, blankets)
EUR
28. = total insurance sum on a stagle rate (recent value) EUR
29. Restriction on one German inland water (no deductible)
30. Share sum:
Total insurance sum: x premium factor of 1,19% (with a deductible of 250,- EUR)
31. = EUR brutto premium per year
Yachtdata
32. SY Name 33. Register no. 34. Year of constr
35. Construction material SY 36. Construction material mast
37. Construction no. ce 38. Length 39. Width
40. Sail-area (main & jib) 41. Inboard engine manufacturer
42. Engine no. 43. Year of constr 44. Capacity HP / KW
45. Pay-load 46. Location: Summer 47. Winter
48. Dinghy manufacturer 49. Year of constr 50. Value
51. Dinghy motor manufacturer 52. Engine no
53. Year of constr 54. Value
55. Life raft manufacturer 56. Year of constr 57. Value
Predamage and else
58. Did you have a pre-insurance? If yes, which? (Name and policy-no.)
59. Start 60. End
61. Have you had any watersport damages in the last five years? No Yes
62. Hat das zu versichernde Boot Vorschäden? No Yes, please explain them to us
63. Number 64. Claims amount
The insurance fees are always including the legal German insurance tax of 19%. Each of the offered forms, comprehensive and liability,
can also be settled solitarily. Minimum rate is 35,- EUR.
All conditions can be downloaded and read on our homepage at www.eis-insurance.com.
Further questions will be answered by our team. EIS - European Insurance & Services GmbH, Scharfe Lanke 109-131, 13595 Berlin, Tel.
+49 (0)30 2140820, Fax +49 (0)30 214082 89, info@eis-insurance.com
Stand: 28/04/09
Application for UFO22-Yacht-Groupinsurance 2009 - www.eis-insurance.com 3/3
Final statement/signature
I acknowledge the explanations and important notes described on the following pages. This explanation contains, amongst others, the in-
struction regarding the pre-contractual duty of disclosure and the right of rescission as well as the declaration of consent according to the
Federal Data Protection Act; they are all integral parts of this contract. With my signature I confirm that the „Explanation and important
notes“ are content of this application. I am bound to this application for the duration of one month. My right of rescission shall remain unaf-
fected hereby. I agree that the insurance cover commences before the expiry of the period of rescission.
Place Date Signature
Acknowledgement of receipt
I confirm that I received the customer information and terms and conditions for the insurance before filing my application.
Place Date Signature
Explanation and important notes
Pre-contractual duty of disclosure
Up to the submission of your contractual statement as policy holder you must inform us truthfully and completely of the conditions of risk known to you, which may be significant for our decision
to conclude the contract with you and with the agreed content and which we asked for in writing or in text form. This previous sentence does not only apply if you fill in the application yourself,
but also if a third party (e.g. the broker) fills in the application in your name. If you breach this duty of disclosure we may withdraw from the contract.
Our right of withdrawal is excluded, if you did not breach the duty of disclosure intentionally or grossly negligently. In this case we have got the right to terminate the contract subject
to a term of one month. Our right of withdrawal due to grossly negligent breach of the duty of disclosure and our right of termination are excluded, if we had concluded the contract knowing
about the conditions not stated, even if we had concluded it under other conditions. Upon our request any other conditions become an integral part of the contract retroactively – in the event of
a breach of duty from the current insurance period, which you are not responsible for.
Declaration of consent according to the Federal Data Protection Act
I agree that EIS European Insurance & Services GmbH (in short EIS) to the required extent may pass on data, which may stem from application documents or from the execution of the contract
(premiums, events of loss, risk/contractual changes) to the insurer and reinsurer for the evaluation of the risk and for the processing of the reinsurance as well as for the evaluation of the risk
and the entitlements to other insurers and/or to the Gesamtverband der Deutschen Versicherungswirtschaft e. V. (German Insurance Association) in order to pass on the data to other insurers.
This consent also applies irrespective of the realisation of the contract as well as for the respective enquiries for other insurance contracts applied for and for future applications. Furthermore,
I agree that EIS and the insurers and reinsurers save general data regarding the application, contract and services in databases, as far as this serves the purpose of the orderly execution of my
insurance issues. Without any impact on the contract and revocably at any time I also agree that EIS may use my general data regarding the application, contract and services for advising
and supporting with other financial services.
These consents only apply if I was able to acknowledge before my filing the application the content of the bulletin regarding data processing – as part of the customer information handed out to
me before the application.
Other notes
There are no separate fees or costs for the acceptance of the application. Debit-return fees and costs of a dunning process will be asserted. EIS/the insurer, who reserves the right of accep-
tance of the application, will review the application. EIS will confirm acceptance of the application after a positive review by sending the policy and invoice. The applicant is bound to his application
for 14 days, unless he cancels his application in writing.
Contractual basis
The mutual rights and duties are determined by the application, a carbon copy/copy of which I am provided with upon application, possibly by any written declarations provided, by the legal
provisions of the Federal Republic of Germany as well as by the terms and conditions for the insurance and customer information, including the tariff and service descriptions, which I was provided
with before filing my application. Any verbal subsidiary agreements are legally invalid.
Right of rescission
You may rescind your contractual declaration within two weeks without providing reasons in written form (e.g. letter, fax, email). The period commences with your receipt of the insurance policy,
the contractual provisions including our General Terms and Conditions for insurance as well as the contractual information (product information sheet and insurance information) and these instruc-
tions. To ensure the period for the rescission the timely sending of the rescission suffices. The rescission must be addressed to EIS, Scharfe Lanke 109 – 131 in 13595 Berlin.
Consequences of a rescission
In the event of a rescission taking effect your insurance cover ends and we will refund the part of your premium, which applies to the period after your rescission. Special notes: We may keep the
part of your premiums, which applies to the period before receipt of your rescission, if you have agreed that the insurance cover commences before the expiry of the period of rescission. If you have
not granted such an agreement or if the insurance cover only commences after the expiry of the period of rescission we will refund the entire premiums paid. We refund premiums immediately, at
the latest 30 days after receipt of the rescission. Your right of rescission is excluded if both sides completed the contract upon your express request before you exercised your right of rescission.
If you rescind a replacement contract your original insurance proceeds. There is no right of rescission for contracts with a period of validity of less than a month.
Registration
EIS European Insurance & Services GmbH is registered as insurance agent with the central registration office (DIHK) according to § 34 d Para. 4 of the Industrial Code with the registration number
D-LGMO-Y6W2Q-40. DIHK Berlin, Deutscher Industrie- und Handelskammertag, Breite Str. 29, 10178 Berlin, Telephone 0180 5 005850 (Telecom 0.14 EUR/min.)
Internet www.vermittlerregister.info or www.vermittlerregister.org.
EIS European Insurance & Services GmbH; Scharfe Lanke 109-131 in 13595 Berlin, Germany; Telephone +49 (0)30 214082 0; Fax +49 (0)30 214082 89;
E-mail germany@eis-insurance.com
Managing directors: Dipl. Kfm. Boris Quiotek, Uwe Sobotka; registered at the District Court Charlottenburg HRB 72784
Contact partner for extra-judicial conciliation-boards
It is our aim to advise you individually, personally and competently. If, however, you are not satisfied, please, contact the person in charge for the issues of the members, 50598 Cologne or the
conciliation-board provided for by statute for consumers for the extra-judicial settlement of disputes: Versicherungsombudsmann e.V., P.O. Box 08 06 32,10006 Berlin
Internet: www.versicherungsombudsmann.de
Your right to take legal action immediately is not affected by these institutions.
Stand: 28/04/09
Application for UFO22-Yacht-Groupinsurance 2009 - www.eis-insurance.com
European Insurance & Services GmbH
Scharfe Lanke 109-131
D-13595 Berlin
Fon +49 (0)30 214082 0
Fax +49 (0)30 214082 89
E-mail info@eis-insurance.com
www.eis-insurance.com
Additional terms for liability and hull damage for
commercial chartering
Supplementary to the existing general and specific terms and conditions of insurance, the following
additional clauses are to be included in the insurance policy:
Third party liability insurance
Supplementary to the AHB (general terms and conditions of Insurance) and BBR (specific conditions
and risk specifications for sport boat third party insurance).
Supplementary to the BBR, insurance cover is extended to the commercial use/chartering of the yacht
for bare boat and berth charter as well as to licence charter trips. Paragraph E of the BBR (claims by
co-insured persons against each other) shall not apply.
comprehensive full cover
Supplementary to the SKB (sport boat hull damage conditions).
In deviation from figure 5.2.3 of the conditions for sport boat hull damage insurance (SKB), insurance
cover is extended to commercial use/chartering of the yacht for bare boat and berth charter as well as
to licence charter trips.
The insured party shall not be under the obligation of contractual consequences resulting from any
misconduct of the charter crew. The insured party shall be co-insured against damages arising from
the misappropriation of the insured yacht by the charterer in accordance with section § 246 of the
german penal code or from the intentional or grossly negligent conduct of the charter crew, insofar as
any third party liability claims by the charter firms against the charterer are expressly ceded to the
insurance company.
others
This english text is a translation of the german insurance conditions. In the dispute the german text is
valid.
particular terms and conditions and risk specifications (bbr)
for sport boat extended third party insurance
a. extent of cover
1. in accordance with the general terms and conditions of business for the contracting of third party
insurance (ahb) and the following particular conditions, the statutory third party liability of the insured
party resulting from possession, ownership and use of the watersports vessel specified in the
insurance contract, which is exclusively used for private purposes, without a professional crew.
2. the following are co-insured:
a) the personal statutory third party liability of the skipper responsible and those other persons
authorised to operate the vehicle;
b) the statutory third party liability arising from the towing of water-skiers
c) the personal statutory third party liability of the water-skiers, for as long as they are towed by the
insured motor boat. this insurance cover is not extended should other cover, e.g. a private personal
third party liability policy be in effect.
in deviation from § 7 fig. 2 ahb, the policy also covers against claims by the water-skiers against the
persons specified at position a).
3. the following are not insured against (or are excluded)
a) third party liability due to damages resulting from participation in speed boat races or from the
associated practice runs;
b) third party liability due to damage resulting from inappropriate use or handling of flammable or
explosive materials.
4. a) should an official permit be required for the operation of a vessel, the insurer shall be absolved
of financial obligation if at the occurrence of the incident resulting in the claim the skipper responsible
is not in possession of a valid, official permit.
b) the obligation of restitution of damages shall remain on the insured party should he or she, through
no fault of his or her own, have accepted the authorisation of the skipper responsible or should an
unauthorised skipper have been in command of the vessel.
5. the exception of environmental damages according to § 4 fig. I 8 ahb is not in force (see, however,
the following positions c. 1-4 in this connection).
b. specific conditions for insurance against damages abroad
1. in deviation from § 4 fig. i 3 ahb, the statutory third party liability for damages claims in the whole
world is included. the insurer will pay benefits in euros. the obligation of the insurer shall be deemed to
be fulfilled once the payment in euros has been made to a german bank account.
2. in deviation from § 3 fig. II 1 para. 3 ahb, in the event of the provisional confiscation of a
watersports vessel in a foreign port, the payment of any sureties or guarantees which may be required
shall be exclusively the responsibility of the insured party.
c. specific conditions for insurance against third party claims
arising from environmental damage to stretches of water
with the exception of risks arising from facilities, or the
introduction or effects of harmful substances
§1
within the scope of the contract, the statutory third party liability of the policy holder is insured against
claims resulting from the direct or indirect consequences of alterations to the physical, chemical or
biological character of a body of water, including the water table (environmental damage to
waterways) with the exception of damage due to:
a) the introduction or bringing of harmful substances to the stretch of water or due to other deliberate
effects on the stretch of water. this also applies if the introduction or effect is carried out in order to
preserve other legally protected rights
b) the dripping or running of oil or other fluids from tank seals, refuelling systems or from the
mechanical equipment of the vessel as a result of operation.
§2
(1) expenditures even for unsuccessful attempts to avert or limit damage in the event of a claim which
the insured party might deem advisable (salvage costs) and non-legal adjustment costs will be
covered by the insurer insofar as together with the damages payments they do not exceed the insured
sum for property damage. in the case of legal costs and lawyers' fees arising, the regulations of the
general conditions of insurance for third party liability insurance (ahb) shall apply.
(2) on the instructions of the insurer, salvage and non-legal adjustment costs must be covered to the
extent to which they, together with the damages, exceed the insured sum for property damage.
permission by the insurer for measures by the insured party or third parties taken to avert or limit
damage shall not count as an instruction by the insurer.
§3
third party claims against persons (insured party or the co-insured parties) who have caused the
damage through intentional deviation from the laws, ordinances, official orders or decrees directed at
the insured party which serve to protect the environment of the stretch of water, shall be excluded.
§4
third party claims due to damages directly or indirectly due to acts of war, other hostile actions,
uprisings or civil unrest, general strikes (in the federal republic of germany or in a state thereof) or
directly due to decrees or measures by higher authorities shall be excluded. the same applies to
damages due to acts of god, to the extent that elemental natural forces have been in effect.
d. specific conditions for the co-insurance of pecuniary
damages in the third party insurance policy
I. if specifically agreed, the statutory third-party liability for pecuniary damages resulting from
damages arising during the effective duration of the insurance policy, in the sense of § 1 fig. 3 ahb, is
co-insured within the scope of the contract.
II. third party claims resulting from the following causes are excluded:
1. damages arising from items manufactured or delivered by the insured party (or for the insured party
or on his or her account by third parties) or from services provided by them;
2. damages arising from the continuous emission of pollution (e.g. noise, odours, vibration);
3. planning, consultancy, building or installation services, inspection or adjustment activities;
4. activities conducted in connection with finance, credit, insurance, property services, leasing or
similar commercial business, from payment procedures of any kind, from treasury activities or from
deceit and embezzlement;
5. the infringement of protected commercial rights or copyright;
6. failure to observe deadlines, due dates, costings and estimates;
7. advice, recommendations or instructions to commercially associated companies;
8. activities in connection with data processing, rationalisation and automation, information provision,
translation, travel agency and travel organisation;
9. intentional deviation from statutory or official ordinances, from the instructions or conditions of the
client or contractor or from other intentional dereliction of duty;
10. loss of property including e.g. money, shares, and valuables.
e. specific conditions for insurance against third party claims by
insured persons against each other
in deviation from § 7 figure 2 ahb, claims by the insured persons against each other are co-insured in
the event of:
1. personal injuries which are not a matter of work accidents occurring during the commercial
operation of the insured party;
2. damage to property, insofar as these amount to more than 150 euro per insured event.
claims by the insured party him or herself and by those persons named in § 4 figure II. 2 ahb remain
excluded from the insurance cover.
other
this english text is a translation of the german insurance conditions. in the dispute the german text is
valid.
general insurance conditions for liability insurance (ahb)
(status: june 1997)
1. insurance cover (articles 1-4)
article 1 subject matter of insurance
1. the insurer shall grant the policyholder insurance coverage in the event that due to any loss
occurring during the policy period leading to the death, injury or impairment to health of persons
(personal injury) or the damage to or destruction of property (property damage), said policyholder is
held liable for such consequences by a third party on the grounds of statutory liability regulations
under private law.
2. the insurance cover shall include statutory liability.
a) arising from the capacities, legal relationships or activities of the policyholder as stipulated in the
insurance certificate and its endorsements (insured “risk”);
b) unless otherwise agreed,
arising from increases in or extensions to the insured risk, provided same do not relate to the keeping
or operating of aircraft, motor vehicles or watercraft (with the exception of rowing boats).
in cases involving increases in the risk assumed which occur through changes to existing legal norms,
or the issuance of now legal norms, the following shall apply.
the insurer shall be entitled to cancel the insurance relationship subject to a period of notice of one
month, the right to cancellation shall cease if it is not exercised within one month from the time at
which the insurer has acquired knowledge of the increase in risk or if the state existing prior to the
increase in risk has been restored.
c) arising from risks which for the policyholder only newly emerge after conclusion of the insurance
policy pursuant to article 2 (automatic additional cover for new risks).
3. subject to special agreement the insurance cover can be extended to statutory liability on account
of financial loss incurred neither through personal injury nor property damage and on account of the
loss or disappearance of property. the provisions in respect of property damage shall apply to
insurance on account of loss or disappearance of property.
article 2 automatic additional cover for new risks
notwithstanding the other conditions of the contract, the following special conditions shall apply in
respect of automatic additional cover (article 1 no. 2 c).
1. insurance cover attaches immediately upon the occurrence of a new risk without any special
notification being necessary
unless otherwise agreed, the following shall apply:
the policyholder shall be obliged, at the request of the insurer, to notify the latter within one month
after receipt of said request of every risk which has newly occurred. such request may also be made
by way of a note printed on the premium invoice. failure on the part of the policyholder to submit such
notification in good time or if within one month of receipt of the notification by the insurer no agreement
is reached on the premium for the new risk, if an insurance cover for the new risk shall lapse
retroactively from the emergence of the risk. lf an insured event occurs prior to notification of the new
risk, it shall be incumbent upon the policyholder to prove that the new risk occurred after the insurance
had been concluded and at a time during which the notification period was still in force.
2. insurance cover shall be limited to the amount of 1.000.000 dem for personal injury and 3.000.000
dem for property damage provided that no lower limits have been set in the insurance certificate.
3. unless otherwise agreed, the following shall apply:
the insurance cover shall not include perils connected with:
a) the possession or operation of railroads, theatres, cinemas or film enterprises, circuses;
b) and spectators stands, further of aircraft and watercraft of all kinds (apart from rowing boats) and
the flying/ driving of such craft as well as hunting;
c) the manufacture, processing, storage, transportation, use of and trading with explosive
substances, insofar as a special license for such is required from the authorities;
d) the driving or keeping of motor vehicles,
article 3 commencement and scope of the insurance coverage
unless otherwise agreed, the following shall apply.
I. in the absence of any other agreement, the insurance cover shall commence when the insurance
certificate has been honoured through payment of the premium, the costs¹ stipulated in the proposal
form and any and all public dues.²
the first or single premium shall unless otherwise determined be due immediately after conclusion of
the insurance contract.
where the first or single premium is not paid in good time, the insurer shall be entitled as long as
payment has not been made to rescind the contract. failure to commence court action for the premium
due within three months as of the due date of payment shall constitute rescission.
where the premium has not yet been paid by the time of the occurrence of the insured event, the
insurer shall be exempted from his duty to perform. where the first premium is requested only after the
point in time established as the commencement of insurance, the insurance cover shall begin at the
agreed point in time.
II. 1. the insurer's duty to perform shall encompass examination of the question of liability, defence
against unjustified claims as well as indemnification of compensation payable by the policyholder due
to any acknowledgement made or authorised by the insurer, to any settlement agreed to or authorised
by said insurer or due to any decision reached by a court of law. where the insurer's obligation to pay
has been established, indemnity shall be payable within two weeks.
where in criminal proceedings in respect of a loss occurrence which may lead to a claim for indemnity
under the provisions of the insurance cover the appointment of counsel to defend the policyholder is
desired or authorised by the insurer, the latter shall bear the costs of defence counsel subject to the
normal scale of fees or if necessary any higher costs as specifically agreed with the insurer.
where the policyholder is required to furnish security for an annuity due as a result of an insured event
or has been granted permission to avoid execution of a court order by furnishing security or making a
deposit, the insurer shall be obliged to furnish the security or make the deposit on behalf of the
policyholder.
2. the sums insured stipulated in the insurance certificate shall represent the maximum limit for the
scope of performance of the insurer in respect of each and every loss occurrence. this shall also
apply if the insurance coverage includes several indemnifiable persons. several losses related in time
from the same cause or several losses from consignments of the same defective goods shall be
deemed as one loss occurrence.
it may be agreed that the policyholder himself shall participate in indemnifying each and every loss
occurrence with an amount as set forth in the insurance certificate.
furthermore, it may be agreed that the insurer shall limit his overall performance for all loss in any one
year of insurance to a multiple of, the agreed sum insured,
3. where a legal dispute arises between the policyholder and the injured party or his legal
successor(s) in respect of the claim, the insurer shall at his own cost conduct the legal dispute or
behalf of the policyholder.
4. the expenditure of the insurer in respect of costs shall not count towards the sum insured as
performance (cf-. however number III. 1 ).
III. 1. where claims to liability exceed the sum insured, the insurer shall bear the costs of litigation only
in terms of the relation of the sum insured to the total amount of claims, even where several trials
result from one loss occurrence. the insurer shall in such cases be entitled to exempt himself from
further performance by payment of the sum insured and corresponding to the sum insured his share in
the costs accrued so far.
2. where the policyholder is obliged to make annuity payments to the injured party and where the
capitalised value of the annuity exceeds the sum insured or the remainder of the sum insured after
deduction of all other indemnification arising from the same insured event, the annuity payable shall
be granted by the insurer only as a ratio of the sum insured and/ or the remaining part of the sum
insured to the capitalised value of the annuity. the annuity value shall be calculated on the basis of the
general mortality tables for germany with survival character 1987 r for men and women and subject to
the actuarial interest rate which takes into account the actual interest rate on the capital market in
germany. the basis for this shall be the arithmetic mean over the last respective 10 years of current
yields in the public sector, as published by, the german bundesbank. subsequent increases or
reductions in the annuity shall be calculated at the time of the original beginning of the annuity with the
cash value of a deferred annuity subject to the aforementioned actuarial basis.
for the calculation of the orphan's pension, the ... year shall be agreed as the earliest end age.
for the calculation of disability annuities the ... year shall be agreed as the end age for persons in
dependent employment. unless otherwise stipulated by court judgment. settlement or any other
determination or subject to a change in the circumstances upon which this determination is based.
with regard to the calculation of the amount which the policyholder has to participate towards ongoing
annuity payments if the capitalised value of the annuity exceeds the sum insured or the, remaining
residual sum insured after deduction of all other benefits, the other benefits shall deducted in their full
amount from the sum insured.
3. in the case of failure to conclude a liability claim as demanded by the insurer by means of
acknowledged satisfaction or settlement due to resistance on the part of the policyholder, the insurer
shall not be responsible from the point of refusal onwards for any resulting additional expenditure in
respect of the main issue, interest and costs.
article 4 exclusions
I. unless otherwise expressly stipulated in the insurance certificate or its endorsements, the
insurance, cover shall not include:
1. liability claims insofar as they exceed the scope of the policyholder's statutory liability based on the
contract or special warranties.
2. claims to salary, retirement pay, wages and other established income, subsistence, medical
treatment where unable to work, claims to welfare (cf. for instance sections 616. 617 bgb (civil cods),
63 hgb (commercial code), 39 and 42 of the seamen's law and the pertinent provisions of the industrial
code, of the social security code vii and federal social assistance act) as well as claims under civil
commotion laws.
3. liability claims arising from loss events occurring abroad; however, claims under section 110 of the,
social security code vii shall be included in this insurance.
4. liability claims arising from participation in horse, cycle or motor racing, boxing or wrestling matches
or preparations herefor (training).
5. liability claims from property damage caused by the gradual impact of temperature, gases, vapours
or dampness, deposits (smoke, soot, dust and the like); further by wastewater, formation of fungus,
subsidence of land (including plants erected thereon or parts, thereof), landslides, vibrations as a
result of pile-driving work, flooding from stagnant or flowing waters and damage to fields by grazing
cattle and damage done by game animals.
6. liability claims, from damage to:
y property which the policyholder has rented, leased, borrowed or
rough unlawful trespassing or which is the object of a special custody
b) third-party property as a result of any industrial or professional activity on the part of the
policyholder in respect of said property (for example processing, repairs, transportation.
examination and the like) in the case of damage to immovable third-party property, this exclusion
shall apply only insofar as said property or parts thereof had been the direct object of the activity.
lf the pre-conditions of the above exclusions are present in the person of employees, workers,
servants, authorised agents or representatives of the policyholder, the insurance cover shall cease to
be effective, both for the policyholder and for persons co-insured under this policy.
the fulfilment of contracts and substitute performance in lieu of actual performance shall not be the
subject-matter of liability insurance, not even where statutory claims are involved, likewise not with
claims in respect of statutory risk-bearing (accidental loss and accidental deterioration).
7. liability claims due to losses or damage directly or indirectly connected with strong ionising radiation
(e.g. from radioactive substances emitting alpha, beta and gamma rays as well as neutrons, or
radiation produced in particle accelerators) and with laser und maser radiation.³)
8. liability claims on account of damage due to environmental impacts on soil, air or water (including
bodies of water) and all further resulting damage.
this shall not apply
a) a) within the framework of the insurance of private liability risks,
or
b) b) if liability claims are raised against the policyholder due to losses from environmental
impacts resulting from products manufactured or delivered by, the policyholder (including
waste), from work or other services after performance of the service or after completion of the
work (product liability),unless
they result from the planning, manufacture, delivery, assembly, disassembly,
servicing or maintenance of:
-- facilities designed to produce, process, store, place in storage, handle or dispatch
substances injurious to bodies of water (wrma facilities);
- - facilities in accordance with appendix 1 or 2 of the environmental liability act (ela facilities);
- - facilities subject to licensing or reporting requirements under the provisions in respect of
environmental protection, insofar as they do not relate to facilities as described under the
wrma or the ela;
- - sewerage plants;
or components clearly destined for such facilities.
II. unless otherwise agreed, the following shall apply.
the following shall be excluded from the insurance cover:
1. insurance claims of all persons who have wilfully caused the damage. in the case of, delivery or
manufacture of goods, products, or work, cognisance of the defectiveness or harmfulness of goods,
etc., shall be deemed tantamount to wilful intent.
2. liability claims:
a) arising from loss event. of the policyholder's family living with the policyholder in common
household of co-insured persons named in the insurance policy;
b) between several insured’s under the same insurance policy;
c) between legal representatives of persons with no legal capacity or with restricted legal capacity
to conduct business;
d) of partners with unlimited personal liability of unincorporated commercial companies;
e) of legal representative of juristic persons under private and public law as well as unincorporated
associations;
f) of liquidators;
the following shall be considered as family members: spouses, parents and children (including
adoptive, parents and adopted children), parents-in-law and also sons and daughters-in-law, step-
parents and step-children, grandparents and grandchildren, brothers and sisters as well as foster
parents and foster children (persons living and bound together in a longer-term family-like
relationship).
the exclusions listed under b) to f) shall cover liability claims of family members of persons named
thereunder if they live together in common household.
1. liability claims which are due to the policyholder's failure to eliminate within a reasonable period of
time particularly hazardous circumstances such as the insurer could reasonably demand and had
reasonably demanded. any circumstance which has led to a loss or damage shall be automatically
deemed to be particularly hazardous.
2. liability claims due to personal injury arising from contraction of illness from the policyholder as well
as property damage caused by the illness of animals kept or sold
by the policyholder unless he has acted neither with wilful intent nor with gross negligence.
3. liability claims due to loss or damage to work or objects manufactured or delivered by the
policyholder (or by third parties on his behalf and for his account) as a result of any cause inherent in
the manufacture or delivery.
II. the insured event (articles 5 and 6)
article 5 obligations and duties of the policyholder, procedure
1. an insured event under, this contract shall he the loss occurrence which could lead to liability
claims against the policyholder,
2. each and every insured event shall be reported in writing to the insurer (article 14) without due
delay, at the latest within one week,
where a preliminary investigation has been in instituted or orders issued imposing punishment or
payment, the policyholder shall notify the insurer thereof without due delay even if he has already
reported the insured event.
where an injured party asserts a claim against the policyholder, the latter shall be obliged to report
such claim within one week of the claim having been raised.
the policyholder shall also report without due delay if a claim is pursued before the courts, legal aid
sought or lf he is served notice of a lawsuit. the same shall apply in the event of an arrest, an
injunction or proceeding’s, for the preservation of evidence.
3. the policyholder shall be obliged in compliance with the insurer's instructions to do everything
possible to avert and minimise the loss and to do everything to clarify the loss event unless an
inequitable demand is made on him. he shall support the insurer by defending the loss as well as
determining and settling the claim, by filing detailed and truthful loss reports, by providing information
on all circumstances with any bearing on the loss, and by submitting all written documents which in the
view of the insurer are material in assessing the loss.
4. where the liability claim is taken to a court of law, the policyholder shall allow the insurer to conduct
the trial, grant power of attorney to the legal counsel appointed or nominated by the insurer and
provide any and all explanations as deemed necessary by said legal counsel or insurer. with regard to
orders imposing payments or injunctions by administrative authorities in respect of indemnity, he shall
raise objections within the specified deadlines or seek the necessary legal remedies without awaiting
the instructions of the insurer.
5. the policyholder shall not be entitled to acknowledge in part or in full any and all liability claims
without the prior approval of the insurer or to settle by compromise or satisfy such claims.
unless otherwise agreed, the following shall apply
in the case of infringements the insurer shall be exempted from his duty to perform unless due to the
circumstances the policyholder was unable to satisfy or acknowledge a claim without obvious inequity.
6. if as a consequence of altered circumstances the policyholder obtains the right to demand, the
cancellation or reduction of a payable annuity, he shall be obliged to allow the insurer to exercise such
right on his behalf. the provisions of numbers 3 to 5 shall apply accordingly.
7. the insurer shall be deemed authorised to submit on behalf of the policyholder all and any
declaration as considered appropriate, for the purpose of settling or defending the claim.
article 6 forfeiture of rights
unless otherwise agreed, the following shall apply;
should there be any breach of duly or obligation by the insured after the occurrence of an insured
event as defined under article 5, the insurer shall be exempted from his duty to perform unless such
breach is attributable neither to malicious intent nor gross negligence. in the case of a grossly
negligent breach of duty or obligation, the insurer shall remain liable to perform insofar as such breach
of duty had no influence on the determination of the insured event or on the assessment or the scope
of performance as incumbent or the insurer. with a breach of duty or obligation for the purposes of
averting or minimising a loss, the insurer shall in the case of a grossly negligent breach remain obliged
to perform insofar at the scope of the loss would not have been lass if the duties and obligations had
been properly fulfilled.
III. insurance relationship (articles 7-15)
article 7 insurance for third-party account / assignment of insurance claims
1. insofar as the insurance extends to liability claims against persons other than the policyholder
himself, all stipulation made in the insurance contract concerning the policyholder shall apply mutatis
mutandis to said persons. the exercise of rights arising under the insurance contract shall be
exclusively vested in the policyholder who shall remain, together with the insured, responsible for the
fulfilment of any all duties and obligations hereunder.
2. unless otherwise agreed, the following shall app/y.
claims of the policyholder himself or the persons mentioned in article 4 no. II, 2 against the insured as
well as claims among insured’s themselves shall be excluded from this insurance.
3. insurance claims may not be assigned prior to there final establishment without the explicit of the
insurer.
article 8 payment of premiums / settlement of premiums / adjustment of premiums / reimbursement of
premiums.
I. 1. the regular subsequent premiums payable after commencement of the insurance cover (article 3
number 1) shall unless otherwise agreed be due for payment an the first day of the month of the
respective policy period; other premiums shall be payable on notification to the policyholder plus any
and all public levies and a collection fee.
2. where no payment has been received, the insurer shall notify the policyholder in writing of the legal
consequences of continuing default and call upon the policyholder at the latter's own expense to pay
within a period of two weeks.
3. if, following expiry of the period, the policyholder is still in default with payment of premiums or
unless otherwise agreed the following shall apply.
with insured events occurring after expiry of this period, the insurer shall be exempted from his duty to
perform if the policyholder had been made cognisant of the legal consequences of non-payment in the
notice indicating the deadline for payment.
the insurer shall be entitled to cancel the insurance relationship with immediate effect and without due
regard to any period of notice. notice of cancellation may be served together with, the advice
specifying the time for payment. in such case the cancellation shall take effect on expiry of the
stipulated period if stated in the letter of cancellation. the effects of the cancellation shall cease if the
policyholder makes
payment within one month after the cancellation or if the cancellation was combined with the specified
period within one month after expiration of the time of payment unless, the insured event has already
occurred.
if the insurer fails to cancel the contract. he shall be bound by an exclusion period of six months from
expiration of the two-week period before he can seek recourse to the courts in respect of outstanding
premiums and costs.
4. where the annual premium has been paid in part, the still outstanding instalments of the annual
premium shall become immediately due if the policyholder defaults on the payment of one instalment.
II. 1. the policyholder shall be obliged on receipt of any request by the insurer, which may take the
form of a note attached to a premium invoice, to provide information on whether any change and
which change has taken place in the insured risk as against the information provided for the purposes
of premium assessment. such information shall be submitted within one month after receipt of the
request. at the request of the insurer the information provided shall be confirmed by company books or
other records. incorrect information to the disadvantage of the insurer shall entitle the latter, without
prejudice to other rights, to impose a contractual penalty on the policyholder amounting to three times
the difference in premium unless the policyholder can prove that the submission of false information
was not due to any fault on his part.
2. on the basis of any reported changes or other determined factors, the premium shall be adjusted at
the time of the change, although it may not be less than the minimum premium established in the
insurer's tariff and ruling at the time the insurance contract was concluded. all increases or reductions
in the minimum premium after conclusion of the insurance contract pursuant to article 8 number III,
shall be taken into account. where a risk ceases, the lesser premium shall be calculated from the time
the reported information was received.
3. where the policyholder fails to report the above in good time, the insurer may instead of a premium
adjustment (number II 1) demand, the payment of a sum amounting to the premium already paid for
this period as a subsequent premium in respect of the period which the reported information would
have covered. where the information is submitted later but still within two months after receipt of the
request for subsequent payment, the insurer shall be obliged to reimburse the amount of premium
paid in excess.
4. the above provisions shall apply also to insurances with advance premium payments for several
years.
III. 1. an independent trustee shall as of 1 july on each and every year determine by witch percentage
the average of claims payments paid in the past calendar year by the insurers licensed to practise
general liability insurance has increased or decreased against the previous year. said trustee shall
round the percentage determined to the next lower whole number divisible by five.
expenditure on claims determination specifically caused by individual loss events shall also be
deemed as claim payments incurred in order to establish the basis and amount of indemnity.
the sum of claims payments made in this year divided by the number of new loss events reported in
same period shall be deemed the average claims payments in any one calendar year.
2. in the event of an increase, the insurer shall be entitled, and obliged in the event of a reduction, to
adjust the subsequent annual premium by the percentage determined under number 1 paragraph
sentence 2 (premium adjustment).
where the average level of the insurer's claims payments has increased in each of the last five
calendar year by a lower percentage than that determined by the trustee for any of these years
respectively pursuant to number 1 paragraph 1 sentence 1, the insurer may increase the subsequent
annual premium by the percentage by which the average of his claims payments has increased in the
last calendar year based on his own company records; this increase may not exceed that which would
have resulted under the previous paragraph,
3. where under number 1 paragraph 1 or number 2 paragraph 2 the movement is less than five
percent, there shall be no premium adjustment. however, this movement shall be taken into
consideration in subsequent years.
4. the premium adjustment shall apply to subsequent annual premiums due from 1 july onwards and
will be communicated to the policyholder with the premium invoice.
5. where the subsequent annual premium is calculated based on wages, contract prise or amount of
turnover, there shall be no premium adjustment.
IV. lf the insurance relationship terminates prior to expiry of the policy period or is retroactively
revoked after commencement of the policy or is null and void from the outset, the insurer shall be
entitled to the premium and or business expense charge pursuant to statutory provisions (e.g.
sections 40 and 68 of the german insurance contract act [vvg]).
where the policyholder cancels after the occurrence of an insured event, the insurer shall be entitled to
the premium for the current insurance period. where the insurer cancels, he shall be entitled only to
that part of the premium corresponding to the insurance period elapsed. the same shall apply in the
event of cancellation on the part of the policyholder, following the adjustment of a subsequent
premium (article 9
II. 1.).
article 9 period of the policy / cancellation
1. the contract shall be concluded initially for the period set forth in the insurance certificate. lf this
period is at least one year, failure to exercise legally effective cancellation shall have the effect of
extending the contract for a further year in each case. cancellation shall be deemed legally effective if
it is declared in writing and submitted by registered latter at the latest three months prior to the
respective expiry of the contract.
II. 1. lf the insurer increases, the premium based on a premium adjustment pursuant to article 8
number III without the scope of coverage having changed, the policyholder may within one month after
receiving notice from the insurer cancel the insurance relationship with immediate effect but not
sooner that from the time the increase becomes effective.
2. the insurance relationship can furthermore be cancelled if following an insured event the insurer
has paid indemnity or the liability claims has become sub judice or the insurer has refused to pay the
indemnity due.
the right to cancellation, on the part of the insurer at one month's notice and on the part of the
policyholder with immediate effect or at the end of a period of insurance, shall cease if not exercised
within one month after payment has been effected, the legal dispute settled by withdrawal of the
action, acknowledgement or settlement or if the judgement is final and unappealable.
3. an insurance relationship entered into for a period of more than five years may subject to a period
of notice of three months be cancelled with effect from the end of the fifth year or any subsequent
year.
III. cancellation shall be deemed to be declared in good time if it has been received by the party to the
contract subject to the respectively ruling of notice.
IV. where insured risks cease completely and permanently, insurance shall no longer
apply to such risks.
article 10 period for filing actions
unless otherwise agreed, the following shall apply;
1. claims arising out of this insurance contract shall become statute-barred after two years, beginning
at the and of the year in which the performance can be demanded.
where a claim has been reported to the insurer by the policyholder, the statute of limitations shall be
suspended until submission of the written decision of the insurer.
2. where the insurer has declined insurance coverage when avoiding the loss the disputed claim to
insurance shall be asserted by raising an action within a period of six months. the period of notice shall
commence on the day on which the claimant is notified by registered letter of the extent to which his
claim to insurance coverage is disputed and informed of the legal consequences of failure to observe
periods of notice.
article 11 policyholder's duty to report
unless otherwise agreed, the following shall apply;
I. 1. the policyholder must, at the time of concluding the contract, inform the insurer of all
circumstances known to him that are material for the assumption of the risk, risk circumstances are
material if they are capable of having an influence on the insurer's decision whether to enter into the
contract at all or to enter into it subject to the agreed contents. a circumstance about which the insurer
has asked expressly and in writing shall in case of doubt be deemed material.
2. lf information about a material circumstance has bean omitted the insurer may rescind the contract.
the same shall apply if information about a material circumstance has been omitted because the
policyholder has fraudulently avoided knowledge of the circumstance.
3. rescission is precluded if the insurer knew the unreported circumstance or if the information was
omitted through no fault of the policyholder.
II. 1. the insurer may also rescind the contract if incorrect has been given about a material
circumstance.
2. rescission is precluded if the incorrectness was known to the insurer or if the information was given
incorrectly through no fault of the policyholder.
III. lf the policyholder had to indicate the risk circumstance on the basis of written questions posed, by
the insurer, the insurer may not rescind the contract on account of any failure to report a circumstance
that was not expressly asked about, with the exception of fraudulent concealment.
IV. if the contract is entered into by an authorised representative or by a person acting without power
representation, not only the knowledge and fraud of the representative but also the knowledge and the
fraud of the policyholder shall be relevant to the insurer's right lo rescind the contract. the policyholder
may claim that information in respect of a material circumstance was omitted or incorrectly provided
through no fault on his part only if neither the representative nor he himself can be charged with fault.
V. 1. the rescission can be effected only within one month. the period shall begin at the time at which
the insurer acquires knowledge of the violation of the duty to inform.
2. the rescission shall be effected by notice given to the policyholder. unless otherwise stipulated
under the german insurance contract act in respect of the provisions relating to premiums. on
rescission both parties shall return to each other any and all performances received; amounts of
money shall bear interest from the time they were received.
VI. lf the insurer rescinds the contract after the insured event has occurred, his duty to perform shall
remain unaffected if the circumstances regarding which the duty to inform was violated has had no
influence on the occurrence of the insured event and on the extent of the insurer's performance
obligations.
VII. the insurer's right to contest the contract on the grounds of fraudulent deception in respect of risk
circumstances shall remain unaffected.
article 12 policyholder's right of revocation and objection
1. in respect of contracts over several years the policyholder enjoys the statutory right of revocation
about which he shall have to be instructed. the right to revocation shall not exist it and insofar as at the
request of the policyholder the insurer grants immediate insurance coverage or if the insurance is
designed based on the contents of the proposal for the commercial or, freelance professional activity
already practised by the policyholder.
on failure to instruct, the policyholder the right of revocation shall lapse one month after payment of
initial premium.
2. where the insurance terms and conditions applicable to the contract or further consumer
information critical to the contents of the contract are only send together with the insurance certificate,
the policyholder shall instead of the right of revocation as outlined under paragraph 1 enjoy a statutory
right of objection about which he shall have to be instructed.
where such instruction is not provided or the policyholder has not been granted possession of the
insurance certificate, insurance conditions or consumer information in their entirety, the policyholder
may within one year after payment of the initial premium exercise the right of objection.
article 13 legal venues
1. legal jurisdiction shall be determined by the seat of the insurer or of the branch office responsible
for the insurance contract in respect of any and all legal actions raised against the insurer on the
basis of the insurance contract. where an insurance agent mediated in concluding the contract the
court at the insurance agent's place of business or - in the absence of business premises - his place of
residence at the time the contract was mediated or concluded shall also be responsible.
2. legal actions taken by the insurer against the policyholder may be brought at the court responsible
for - the place of residence of the policyholder. insofar as the contract relates to industrial insurance,
the insurer may assert claims also at the court responsible for the seat or subsidiary of the
policyholder.
article 14. duty to report and declarations of intent.
1. all duties to report and declarations of intent as determined for the insurer shall be submitted in
writing to the head office of the insurer or to the branch office stipulated in the insurance certificate or
schedules thereto. the representatives shall have no authority to accept such submissions.
2. lf the policyholder has changed his address but not informed the insurer of such change, the
mailing of a registered letter to the last address known to the insurer shall suffice for the purposes of
submitting a declaration of intent to the policyholder. the declaration shall becoming effective at the
point in time it would have been received by the policyholder in the course of regular delivery had
there been no change of address.
other
this english text is a translation of the german insurance conditions. in the dispute the german text is
valid.
¹) policy- issuing fee
²) insurance tax
³) the indemnification of damage from nuclear energy is based on the german atomic energy act.
operators of nuclear plants are subject to compulsory cover and therefore take out liability insurances.
pleasure craft hull insurance (skb)
which items are any items listed in the contract, which forms the basis of our detailed application form,
insured? shall constitute an important part of the contract.
against which insurance coverage extends to loss and damage of the vessel insured, caused by
perils and accident of the craft, such as sinking and capsizing, vandalism, fire, lightning,
damages? explosion, storm - wind force 8 and more, force majeure, theft by forced entry, robbery
and theft of the entire vessel. special regulations apply to loose parts and other
accessories. any resulting damage to the craft caused by breaking of masts, resp.
spars are included in this cover.
by agreement of ‘restricted cover’ coverage is limited explicitly to damage caused by
fire, lightning and explosion, theft of the entire vessel including motors (total theft) and
total loss of the entire craft including motors due to an accident, storm and/or force
majeure.
which damages a few exclusions do exist, such as initial incompetent piloting and unseaworthiness of
are not insured? the vessel, damage due to construction, manufacturing or material faults of the parts
directly involved, usual wear and tear, influence of the weather (heat, ice, frost), during
commercial use, insufficiently qualified pilot (lack of pilot’s licence) and political risk
(war, strike).
which value is the insurable value for factory new items is the reinstatement value, otherwise the
to be insured? current market value which, in each case, is based on the agreement of fixed insured
value.
the defence of under-insurance shall be excluded.
how long does the agreement of fixed insured value shall be valid for a period of five (5) years.
the agreement however, you are also free to ask for an adjustment within this period. the fixed insured
of fixed insured value value should always correspond to the real value of your vessel.
apply?
where does the on land and on european inland waters, the north and baltic seas, cover the
insurance apply? mediterranean sea, including the atlantic coast (up to 200 sea miles).
transport and winter storage are included insofar as no individual agreement to the
contrary has been concluded.
any other area must be agreed upon prior to insurance cover.
how much does in case of total loss you will receive the agreed insurable value. for partial damage we
the adjustment shall reimburse costs incurred for the necessary repairs, respectively replacement
amount to? (without deductions of ‘new for old’). any excess cover agreed will be deducted from
this.
in addition, we shall reimburse for wreck removal and disposal charges up to 100% of
the amount insured.
is there any under a fully comprehensive cover you will receive up to 40% no-claim bonus.
no-claim bonus?
after five accident-free years you will not be downgraded after the first claim (bonus
saver).
the bonus remains unchanged for small claims amounting up to 5% of the sum insured.
what to do when according to regulations the comprehensive insurance, including all rights and
selling the vessel obligations, is assigned to the buyer. legislation for contract of insurance grants right of
notice to the buyer and insurer only, but not yourself. it is best that the buyer signs the
notice of disclaimer attached to this contract.
what to do in please notify us immediately of any claim (claims exceeding euro 2500.00 to be
the event of reported per telephone or fax).
a claim?
damage caused by fire and explosion, theft by forced entry and theft are to be reported
to the respective local police and harbour authorities.
serious damage or sinking of the vessel must be reported immediately to the maritime
investigation board and in foreign countries to the diplomatic representative of the
federal republic of germany.
in the event of collision a protocol shall be drawn up immediately listing circumstances,
cause, damage incurred and participants involved.
a contract of insurance, unlike any other, is build on trust. mutual information ensures to maintain this trust and
helps to avoid interruption of the insurance cover. we aim to enter into a long-term relationship with you. please
do not hesitate to contact us in case of queries or if you do not agree with something - we are here to help you.
for any complaints please contact our representatives for matters concerning members at the following address:
gothaer versicherungen, dept. bam, 50598 köln, or the federal supervisory office for insurance and for building
and loan associations (bundesaufsichtsamt für das versicherungswesen), graurheindorfer str. 108, 53117 bonn.
conditions pertaining to the pleasure craft hull insurance (skb)
1. area of the insurance cover applies on land and to all inland waters, the north and baltic seas, (north sea:
within europe
application north to the line formed by bergen/ wick, south: to ushant/ landsend), including the
entire mediterranean sea and the atlantic coast up to 200 sea miles (excluding north
and west of ireland) to ad daklah, as well as the canary islands within a radius of 200
sea miles.
further more, it shall also apply to the same area of application:
1.1 during summer and winter storage (permanent stationing abroad see
ig. 2 skb);
1.2 during training or participating in regattas (however, see fig. 5.2.2);
1.3 during repairs and inspections at shipyards or in workshops;
1.4 when lifting the vessel out of water or launching it;
1.5 during transport insofar as suitable means of transport is used and the insured
items are correctly loaded and fastened.
2. permanent on application insurance cover may be extended by special agreement to cover
positioning abroad: permanent positioning abroad.
3. insured items and 1. any items listed in the policy are insured.
perils
2. insurance cover pertaining to the fully-comprehensive insurance
(comprehensive insurance with restricted cover see clause 1003 as well as trailer
comprehensive insurance see fig. 3.3 skb) applies to:
2.1 loss and damage of insured items owing to
2.1.1. accident of vessel, such as sinking and capsizing, vandalism;
2.1.2. fire, scorching and burning (also when caused by short circuit), lightning,
explosion;
2.1.3. storm (wind force 8 and more), force majeure;
2.1.4. theft by forced entry, robbery;
2.1.5. theft of entire vessel, dinghy and/or fixed or locked up parts, respectively items;
2.1.6. theft of outboard motor, secured by steel chain 5 mm minimum, or protective
method of equal standard;
2.1.7. theft of inflatable liferaft during the season even if not securely mounted or
locked up;
2.1.8. theft of tarpaulin and similar covers insofar as these are secured against easy
removal;
2.2 further, damage to masts and spars caused by breaking, bending/folding or
battering, tearing and breaking of fixed and moving items including subsequent
damage incurred to own vessel;
2.3 against payment of a surcharge premium on damage by usual theft of outboard
motors.
3. a trailer included in the comprehensive insurance shall be covered only for
damage caused by fire, lightning, explosion, theft of trailer including total loss as a
result of accident, storm and/or force majeure.
4. efforts/expenses 1. efforts/expenses including unsuccessful ones, which the insured may have
considered appropriate to avoid or reduce damage, shall be reimbursed by the insurer.
total reimbursement of expenses and compensation shall not exceed the sum insured
insofar as efforts/expenses were not carried out on instruction of the insurer.
2. in addition, the insurer agrees to reimburse expenses for wreck removal and
disposal up to 100% of the sum insured, provided that an insured incident took place,
the policy holder is obliged to remove the wreck or is responsible for payment of
expenses, and no third party risk insurer carries any liability.
5. exclusions 1. not insured are:
valuables and jewellery, furs, money, papers of any kind of monetary value,
documents, groceries, semi-luxury food, drinks and tobacco including any clocks not
securely mounted.
2. excluded from compensation are:
2.1 indirect damage (e.g. impaired racing ability; loss of use, reduced value);
2.2 damage sustained during white water racing or when crossing weirs including
participating in motorboat races or any training sessions in this connection;
2.3 damage incurred during commercial use or when charging for renting out the
craft;
2.4 damage caused by persons piloting the vessel who are not in possession of the
prescribed pilot’s licence or, if no pilot’s licence necessary, are not sufficiently qualified;
2.5 damage due to initial unseaworthyness of the craft;
2.6 damage based on construction, manufacturing or material faults of the parts
directly involved;
2.7 damage owing to usual wear and tear, age, treating, weather influence (e.g.
heat, sun, rain, snow, ice, frost, freezing of cooling water, rust, oxidisation, rotting,
worm damage, rats, mice, moths and other vermin;
2.8 damage due to violation of customs and other official regulations, contravening
of instructions by forwarding agents as well as damage based on court order or
execution thereof;
2.9 damage owing to war, civil war or warlike events as well as the existence or use
of mines, torpedoes, bombs or other war materials (also independent of war), by
uprising, plundering, political violence or any other civil unrest, strike, lockout,
sabotage, confiscation, deprivation or other interventions by authorities;
2.10 damage owing to nuclear energy and radio-activity.
6. insurable value 1. the insurable value for factory new items is the reinstatement value
= fixed insured value (replacement cost of a new item of the same type and quality), otherwise the current
market value (original value reduced by an appropriate reduction based on age and
wear and tear).
2. the value on the date of conclusion of contract, respectively date of modification
of contract is instrumental.
3. the fixed insured value agreed as per figs. 6.1 and 6.2 shall be locked-in for a
period of five (5) years.
4. the fixed insured value shall be scrutinised and renegotiated on expiry of five (5)
years of coverage.
5. on application of the insured and prior to expiry of this period changes to the
fixed insured value may also be agreed between the contracting parties.
6. any discounts and concessions concerning price are excluded when
establishing the insured value.
7. any items listed as separately insured in the policy are, in each case,
considered independently insured items.
8. the defence of under-insurance is excluded.
7. adjustment 1.1 in the event of total loss of the craft including built-in machine-driven
installations and/or the outboard motor including dinghy and inflatable liferaft, the
insurer shall adjust the agreed insured value minus any possible salvage value.
1.2 total loss is considered when the insured items have been lost to the insured
without hope of recovery, in particular when sunk irretrievably, their original condition
has been destroyed and damaged to such an extent that repair thereof would amount
to the insured value.
2. in all other cases the insurer shall reimburse the necessary repair costs,
respectively expenses for replacement of the same kind, without deductions of
‘new for old’ minus any possible residual value.
3. in each case the sum insured represents the limit of liability by the insurer
(exception see fig. 4.2).
4. the excess agreed shall be calculated per claim and the contractually agreed
reimbursement. this shall not apply in the event of total loss of the vessel, respectively
the trailer, as well as for damage caused by fire, lightning and explosion.
5. damaged items cannot be returned to the insurer.
8. premiums 1. the first premium (contribution) is due by the insured on receipt of the policy or,
beginning and end of in the event of conclusion of contract as per §§ 5 or 5a legislation for contract of
liability insurance (vvg), on expiry of time-limit for filing an objection. follow-on premiums are
due on the first day of the month commencing a new year of coverage.
§ 36 vvg describes the consequences of untimely payment of the first premium or first
instalment of the first premium; apart from this § 39 vvg shall apply. in the event of
delayed performance the insurer shall be entitled to demand compensation for damage
of delayed performance as per § 286 civil code (bgb) including interest on defaulted
payment as per § 288 civil code (bgb) or § 352 commercial code (hgb). overdue
premiums may be recovered only within one year of expiry of time limit for payment as
per § 39 vvg.
2. if payment by instalment has been agreed any overdue premiums are
considered deferred. these shall fall due immediately if the insured is in default or
insofar as an adjustment is due.
3. insurer’s liability commences at the agreed time including also if payment of
premium is demanded at a later stage and is paid without delay. if at the time of
applying for insurance the insured is aware of a claim already occurred, liability for
such claim shall be excluded.
4. policies of at least one year duration shall be renewed automatically annually
unless terminated by written notice by one of the contracting parties at least three (3)
months prior to expiry. policies with a duration in excess of five (5) years may be
terminated at the end of the fifth year or each following year by observing a three
months’ term of notice.
5. should the policy end prior to the agreed term of contract, the life of the policy
be expired or cancelled retrospectively or be invalid from the outset, the insurer shall
be entitled to the premium or business fee as per legislation for contract of insurance
(e.g. §§ 40, 68 vvg).
6. should the insured terminate the policy after a claim the insurer shall be entitled
to the premium of the following year of coverage. should the insurer terminate he shall
be obliged to reimburse the premium for the current year of coverage in proportion to
the time not yet elapsed of the entire year of coverage.
7. no refunds will be granted for dormant periods or winter storage.
9. risk volume on 1. the insured agrees to answer the application form truthfully. upon
conclusion of negligent violation of this obligation the insurer shall be entitled to cancel the
contract and policy as per §§ 16 - 21 vvg and be exempted from performance or to dispute
increased risk the policy as per §22 vvg.
2. the insurer shall be notified immediately in writing of any increased risks. in the
event of increased risk the insurer may be entitled to terminate the policy or be
exempted from performance as per §§ 23 - 30 vvg.
3. an increase of risk following application is especially evident if particulars asked
for in the application form have changed.
10. claims procedure 1. the insured is obliged to report any damage to the insurer without delay
– any claims expected to exceed euro 2500.00 to be reported either per
telephone or fax – and shall ensure to minimise and ward off further damage.
damage caused by fire and explosion and theft by forced entry and theft must
be reported without delay to the respective police and within the harbour area
to the respective authorities.
in addition, any casualties as per marine casualty investigation law (e.g.
sinking of vessel or serious material damage) shall be reported immediately to
the respective marine investigation board and in cases of overseas trips the
next accessible diplomatic or consular representative of the federal republic of
germany.
2. in the event of collision with another vessel a protocol must be drawn up
immediately listing circumstances, cause, damage incurred and participants involved.
3. for damage occurred whilst under the care of a forwarding agent a fact finding
shall be arranged.
4. before effecting repairs the insured shall give the insurer the opportunity to
inspect and to assess the damage, permit him to investigate cause and amount of
damage and the extent of performance, and to this extent provide any expedient
information in writing and to submit supporting documents.
5. should the insured be entitled to compensation for damage to third parties the
insured shall then be obliged to provide the insurer with any necessary information in
support of such claim.
11. non-observance 1. violation of any one of these conditions or non-observance of
of an incidental obligations contained in the policy by the insured shall
obligation and exempt the insurer from performance as per legal provisions (e.g. §§ 6, 62
grounds of and 67 vvg).
forfeiture
2. exemption from performance shall also apply if the insured, the pilot or
passengers of the vessel insured have caused deliberate damage or by gross
negligence or if the policy holder or beneficiaries in connection with the claim, in
particular in the notice of loss or during negotiations concerning determination of
compensation, have given false statements deliberately even though this may be
injurious to the insurer.
12. payment of 1. the insurer agrees to pay compensation in the currency of the sum and at most
insured 14 days following final determination of damage and extent of performance.
compensation however, in the event of theft not before expiry of one month following receipt of notice
of loss.
2. if in connection with the claim official charges or criminal proceedings have
been instituted against the insured, the pilot of the vessel or the passengers, the
insurer may postpone payment until conclusion of proceedings.
3. if within a period of six (6) months claim for compensation was not legally
asserted following written rejection thereof by the insurer and pointing out the legal
consequences in connection with expiry of such a period, the insurer shall be exempt
from obligation to compensate.
4. provisions of § 12 paragraph 1 and 2 vvg will remain unaffected.
13. notice in an on occurrence of an insured event both parties will be able to give notice. notice must
insured event be given in writing and must be received latest one month following final negotiations
concerning compensation. the insurer shall observe a one month’s term of notice.
notice given by the policy holder shall entitle him to decide whether his notice shall be
effective immediately or at a later stage, however latest at the end of the current year
of coverage.
14. legal relations 1. any rights from this insurance may neither be assigned nor pledged by insured
the of third without explicit agreement by the insurer.
parties
2. should the insured sell the insured craft this insurance shall be assigned to the
buyer. provisions of §§ 69 – 71 vvg shall be applicable.
15. jurisdiction for legal proceedings resulting from this insurance relationship national places of
jurisdiction shall apply as per §§ 17, 21, 29 code of civil procedure (zpo) and § 48 vvg.
16. conclusion excepting provisions contrary to those agreed to herein, legal provisions of the federal
republic of germany shall be applicable. this applies in particular to the legal provisions
attached which, according to insurance regulations, are subject of this insurance
contract.
the following provisions apply to any fully comprehensive insurance:
clause 1002 – no-claim bonus clause
the following no-claim bonus (sfr) will be granted under fully-comprehensive insurance:-
10% bonus for one year of coverage free of claim
20% bonus for two years of coverage free of claim
30% bonus for three years of coverage free of claim
40% bonus for four years of coverage free of claim
the first claim during any year of coverage with an adjustment exceeding 5% of the total sum insured will result in
downgrading by 10% as of the next annual due date.
the no-claim bonus will remain untouched for any adjustments up to 5% of the total sum ensured.
two claims and more – irrespective of adjustment – will result in the total loss of any no-claim bonus granted up to
that point.
bonus saver: downgrading as a result of a claim for adjustment occurring after five years of coverage
or more free of claim will be suspended for such a particular claim.
any claim for a jointly insured trailer will not result in downgrading of the no-claim bonus.
the no-claim bonus applies to individuals only.
the following provisions apply to any comprehensive insurance with restricted cover:-
clause 1003 – comprehensive insurance with restricted cover
in revision of figure 3 concerning provisions for comprehensive insurance for sports vessels, insurance will cover
any damage caused by fire, lightning and explosion, theft of the entire vessel including motor (total theft) as well
as total loss of the entire craft including motor as a result of an accident (fig. 3.2.1.1), a storm and/or force
majeure (fig. 3.2.1.3).
the following provisions apply to any contract for which a restriction of the area of application on a german or
european inland lake has been applied:-
clause 1004 – area of application on a german or european inland lake
as a restriction of figure 1.1 provisions for comprehensive insurance for sports vessels insurance cover shall apply
only to the german or european inland lake as described in detail on the application form.
a general joint insurance for transporting the insured items as per figure 1.1.5, provisions for comprehensive
insurance for sports vessels, is considered cancelled.
the one-off transport of insured items during a year of coverage from winter storage to the water and at
the end of the season back to winter storage shall remain insured.
any transports in direct connection with repairs, overhaul (shipyard and workshop time) or presentation at an
engineering control association (tüv) shall be considered insured.
Allgemeine Versicherung AG
Annex
to the watersport full-cover insurance
Extension of coverage to the risk of charter loss for
commercial charters
1. Object of the insurance
co-insured is the proven loss of income (charter loss) for already concluded written
charter contracts as a direct result of insured full cover damages which proven to result
from cancellation of charters already contracted in written form is insured against,
should subsequent chartering prove impossible due to hull damage which necessitates
payment of compensation and which compromises the functionality and safety of the
yacht or due to a complete write off as a result of theft of the yacht or it not being worth
repair.
2. Extent of the insurance cover
the cancelled fees will be compensated from the first day of the following booked Char-
ter. The deductible amount shall be 10 % of the insured sum. The period of liability is
limited to the period between 01.04 and 31.10 of a particular year and at the maximum
of 20 calendar weeks per calendar year. Charter losses from Charter contracts that are
longer than 4 calendar weeks are generally excluded, this also counts for several con-
tracts of the same charter client. It is a further precondition of benefit payment that a
minimum of two weeks have elapsed between the signing of the charter contract and
the start of the charter.
Should it prove possible to provide a substitute yacht, compensation for proven dam-
ages (additional costs and loss of revenue) shall be limited to a maximum of 90 % of the
cancelled charter. The nearest comparable yacht has to be chosen.
On principle, the insurant must prove upon request, that the contractual first payment of
the concerned follow charter contracts has already come in on a business account of
the insurant or the charter base at the time of the claim.
3. Obligations
The insured party (charter firm) must inform the insurer of the current charter prices for
each yacht separately by the first of April in each year. In the event of a claim for dam-
ages, the insurer must be provided with the current plan of deployment and the associ-
ated charter contracts for the entire fleet.
4. In the event of damage
2
The insured party must inform the insurer immediately on the occurrence of hull dam-
age. In the event of hull damage occurring, the insured party must immediately ensure
the prevention or limitation of the threat of cancellation damages, in particular through
repair work, substitution or redeployment. To this extent, the instructions of the insurer
should be sought and followed, insofar as possible and reasonable. The same applies
even if the cancellation has already been made, resulting in loss of revenues. The in-
surer must be informed immediately of any necessary measures which the insured party
might consider appropriate to the circumstances but which they were not able to agree
with the insurer in good time.
The annual premium of the full cover is surcharge of 0.2% plus the legal VSt. for the
expansion of the conditions around these clauses contained.
