The object of insurance is the property interests of the Policyholder (Beneficiary) that do not contradict the legislation of the Kyrgyz Republic, related to the ownership, use, and disposal of transported cargo. Cargo means property accepted in the established manner for carriage or transportation.
INSURANCE RISK, INSURED EVENT
Insurance Risk is a presumed event, possessing signs of probability and randomness of its occurrence, for the event of which this insurance is provided.
Insured Events are events provided for by the insurance contract, upon the occurrence of which the Insurer becomes obligated to make an insurance payment to the Policyholder (Beneficiary).
In this case, several events related to the occurrence of losses of the Policyholder (Beneficiary) from damage, total destruction, and/or loss of all or part of the insured cargo, resulting from one event or causally linked to one event, are considered as one insured event.
Under the insurance contract, events according to the insurance conditions provided below are recognized as insured events:
"With liability for all risks";
"With liability for particular average";
"Free of damage except in case of disaster".
SUM INSURED
The Sum Insured is a monetary amount determined by the contract, based on which the amount of the insurance premium and the amount of the insurance payment upon the occurrence of an insured event are established. The sum insured is determined by agreement between the Policyholder and the Insurer; the sum insured must not exceed the insurable (actual) value of the cargo, unless otherwise specified in the insurance contract.
INSURANCE RATE
The amount of the insurance premium is determined by the Insurer depending on the amount of the sum insured and the insurance rate. The insurance rate represents the rate of the insurance premium per unit of the sum insured.
Insurance rates are determined by the Insurer using base insurance rates, calculated considering the specifics of the object of insurance and insurance risks, and adjustment coefficients applied to them depending on factors affecting the degree of insurance risk.
INSURANCE PERIOD
The insurance contract can be concluded for any term agreed upon by the parties to the contract.
Liability under the insurance contract begins from the moment the cargo is loaded onto the vehicle and continues throughout the entire carriage until the cargo is delivered to the Consignee at the destination.
For more detailed information, call us at the following numbers:
+996 (312) 39 82 24, +996 (312) 39 82 78