Under the insurance agreement there can be insured:
Insured’s property interests in case of arising of its civil liability for payment of compensation for damage to life, health and/or property of the third parties within insurance period.
The insurance event is:
The occurrence of the Insured’s civil liability towards the third party for the damage caused within insurance period of unintentional and unforeseen nature directly related to the implementation of the insured activity or caused by constructive, industrial, prescription defects of the goods as well as the use of materials, equipment, instruments, tools, appliances or other means not ensuring the safety of life, health and/or property of third parties.
The procedure for insurance indemnity payment:
Insurance indemnity is paid by the Company in the amount of damage defined during the claim settlement period but not higher than insurance amount specified in the Agreement.
The Company shall pay insurance indemnity within 15 (fifteen) days from the date of signing the Act on Insurance Event by transferring to the Insured’s or the Beneficiary’s bank account (as agreed by the parties).