ENVIRONMENTAL LIABILITY
1. INSURANCE COVERAGE
Subject to all provisions, terms,
conditions and exclusions of this Policy the total of all payments made shall
be in excess of
any applicable Deductible and
shall erode the Limit of Liability. Payments
shall be afforded solely with respect to Claims or
Loss
arising from Pollution Conditions that originated after the earlier of
either the Inception Date or the Retroactive Date,
and
first made against an Insured and reported
to the Insurer in writing as
soon as possible once the Insured becomes aware
of such
during the Policy
Period, or
during the Extended
Reporting Period, if applicable as required by this Policy.
The Insurer will indemnify the Insured against all unexpected and
unintended Loss that the Insured shall become legally obligated to pay as a result of Claims or Loss arising
from:
A. On-Site Clean-Up Costs
that the Insured becomes legally obligated to pay
which are caused by Pollution Conditions
on or under the Insured Property;
B. Bodily Injury or Property Damage caused
by Pollution Conditions whether they are On-Site or Off-Site;
C. Off-Site Clean-Up Costs arising
from the migration of On-Site Pollution Conditions.
Furthermore the Insurer will pay the Insured the Property Damage suffered and On-site Clean-Up Costs which occurred on the Insured Property and arising from a Pollution Condition on
or under the Insured Property.
2.
DEFINITIONS
1. Biodiversity
Damage
means actual physical damage to or destruction of water,
land or protected species or natural habitats for which the Insured is
legally responsible has been incurred by the Insured under European Union
Directive 2004/35/EC on environmental
liability and/or any equivalent local legislation.
For the avoidance of doubt Biodiversity Damage includes Primary Remediation,
Complementary Remediation and Compensatory Remediation, although cover for Compensatory
Remediation and Complementary Remediation to the extent
of Limit of Liability.
Primary Remediation means any remedial measure, which
returns the damaged natural resources and/or impaired services to, or towards,
baseline condition
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Complementary Remediation means any remedial measure taken
in relation to natural resources and/or services to
compensate for the fact that
primary remediation does not result in fully restoring the damaged natural
resources
and/or services.
Compensatory Remediation means any
action taken to compensate for Interim Losses of natural resources and/or
services to other natural resources and/or services that occur from the date of
damage occurring until primary remediation has achieved its full effect.
Interim Losses means losses which result from the
fact that the damaged natural resources and/or services are not able
to perform their ecological
functions or provide services to other natural resources or to the public until
the primary or
complementary measures have
taken effect. It does not consist of
financial compensation to members of the public.
2. Personal
Injury
means physical injury, or sickness, disease, mental
anguish or emotional distress sustained by any person, including death
resulting therefrom.
3. Claim
means a written demand, notice or other written
communication received by the Insured seeking a remedy and alleging
liability
or responsibility on the part of the Insured for Pollution
Conditions and/or Loss. Claim also includes Legal
Proceedings.
4. Clean-Up
Costs
means reasonable and necessary
expenses, including legal expenses incurred with the Insurer’s prior written
consent, which consent shall not be unreasonably withheld or
delayed, for the investigation, removal, remediation including associated monitoring, or disposal of
soil, surfacewater, groundwater or other contamination:
i. to the extent
required by
Environmental Laws;
ii. that have been actually incurred by any governmental or
statutory body or agency, or by Third
Parties;
Clean-Up Costs
includes Restoration Costs.
5. Defence
Costs
means reasonable and necessary legal
fees, costs and expenses incurred by or on behalf of the Insured with the prior
written
consent of the Insurer in the
investigation, defence, adjustment, settlement or appeal of any Claim. Defence
Costs,
charges and expenses are included in Loss and reduce the Limit of Liability and
are applicable Deductible.
6. Employee
means any natural person who is or has been engaged by the
Policyholder to work for compensation. Employee shall
not
mean any:
(i) principal, partner or director; (ii) temporary contract labour, self
employed person or labour-only sub-
contractor.
7. Environmental
Laws
means
any statute, statutory instrument, by-law, regulation, guidance or standards
having the force of law, or any notice, order, instruction or judgment of any
governmental or statutory body or agency or court concerning health and safety
or environmental matters that are applicable to Pollution Conditions.
8. Extended Reporting Period
means the additional period of time, if applicable, in
which to report Claims or Loss following cancellation or expiration of coverage under this Policy.
9. Inception Date
means the date of inception of this
Policy as set forth in the Policy Schedule.
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10. Insured
means the Policyholder as
well as:
i. any past or
present principal, partner or director of the Policyholder while acting within the scope of
their duties as
such;
ii. any Employee while acting
within the scope of their duties as such;
iii. any
temporary contract labour, self-employed persons, labour-only sub-contractors,
solely working for and under
the direction and direct supervision of the Policyholder.
11. Insured Contract
means a contract or agreement submitted to and approved by
the Insurer
and listed specifically on an endorsement to
this Policy.
12. Insured Property
means only the locations specifically
identified in the Policy Schedule.
13. Insurer
means: The insurance coverage is
provided by Colonnade Insurance S.A. The company has been registered in
Luxemburg
by the Registre de Commerce
at des Sociétés, Luxemburg, register number: B 61605. Registered seat: 1, rue
Jean Piret,
L-2350 Luxembourg. The
registered address of Colonnade Insuarnce S.A. Branch Office in Hungary is
H-1139 Budapest,
Váci út 99., and it is
registered at the Registrar of Companies of the Metropolitan Tribunal of
Budapest under company
registration
number 01-17-000942. Telephone number: +36 1 460 1400. Colonnade Insurance S.A.
operates under the
license
of Grand-Duche de Luxemburg, Minister des Finances, Commissariat aux Aussrances
(L-1840 Luxemburg,
Bureaux: 7, Boulvard Joseph
II).
14. Limit of
Liability
means the amount specified in the
Policy Schedule.
15. Legal
Proceedings
mean litigation, arbitration,
mediation, adjudication or any other process of dispute resolution.
16. Loss
means Pollution Conditions
resulting in any of the following:
i. any amount that an
Insured shall be
legally liable to pay to a Third
Party in
respect of judgments or arbitral awards
rendered against an Insured, or for settlements negotiated by
the Insurer
with the consent of the Insured;
ii. Clean-Up Costs;
iii. Defence Costs;
iv. Mitigation Expenses;
v. Biodiversity
Damage
17. Microbial
Matter
means fungi or bacterial matter which reproduces through
the release of spores or the splitting of cells, including but not limited to, mould, mildew or
viruses, whether or not such Microbial Matter is living.
18. Mitigation Expenses
means:
i. those expenses due to measures the Insurer has specifically directed the Insured to perform in order to avoid or
mitigate the effects of Pollution Conditions which
may give rise to a Claim;
ii. those expenses resulting from reasonable measures taken at
the sole initiative of the Insured in good faith, either to
avoid Pollution Conditions which may give rise to a Claim or in
order to avoid or reduce any consequences thereof,
in as much as these measures are Urgent.
Mitigation Expenses do not
include any capital improvement or betterment expenses
(including researching
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development).
19. Off-Site
means outside
the boundaries of the Insured Property.
20. On-Site
means within the boundaries of the Insured Property.
21. Policy
Period
means the period set forth in the
Policy Schedule, or any shorter period arising as a result of cancellation.
22. Policyholder
means the first person or first
entity listed in the Policy Schedule.
23. Pollution
Conditions
means the discharge, dispersal, release or escape of any
solid, liquid, gaseous or thermal irritant or contaminant, including, but not
limited to, smoke, vapors, soot, fumes, acids, alkalis, toxic chemicals,
medical waste and waste materials in or on land, or any structure on land, the
atmosphere or any watercourse or body of water, including groundwater, provided such conditions
are not naturally present in the environment in the amounts or concentrations
discovered. Pollution Conditions do not include Microbial Matter.
24. Property Damage
means
i. physical injury to
or destruction of any Third Party’s tangible property, including the
resulting use and diminution in
value thereof. However, Property Damage
does not include diminution in value of a Third Party’s tangible
property
that was at any time leased, rented,
occupied or loaned to the Insured;
ii. loss of use, but not diminution in value, of a Third party’s tangible property that has not been
physically injured or
destroyed;
iii. Biodiversity Damage;
Property Damage
does not include any Clean-Up Costs.
25. Responsible
Insured means any:
i. director, officer,
partner, manager or supervisor of the Insured;
ii. control or compliance officer, or any manager of the Insured Property.
26. Restoration Costs
means reasonable and necessary costs incurred by the Insured with
the Insurer’s
prior written consent, which consent shall
not be unreasonably withheld or delayed, to repair, replace or restore real or
personal property to substantially the same condition it was in prior to
being damaged during work performed in the course of incurring Clean-Up Costs. However, such Restoration Costs shall not exceed the net present value of such property
prior to incurring Clean-Up Costs. Restoration
Costs
do not include costs associated with improvements or betterments.
27. Retroactive Date
means the first date after which Pollution Conditions giving rise to Loss would be covered under this Policy. If no Retroactive Date
is specified in the Policy Schedule, then this Policy’s Inception Date
applies.
28. Third
Party
means non-Insured.
29. Underground
Storage Tank
means any tank
that has at least ten (10) percent of its volume below ground including any
connected, associated or
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any underground piping to the tank.
30. Urgent
means
actions which pose an imminent danger of a Pollution Condition
for which the Insured has no choice but to take immediate
action, without having the possibility of obtaining the Insurer’s
prior written consent
3.
EXCLUSIONS
The Insurer shall have no liability under this Policy in
connection with any Claim or Loss:
1. Abandoned
Property
arising from Pollution Conditions on, under or originating from
the Insured Property and which commence subsequent to the time the Insured
Property is abandoned, sold, given away, or operational control is
relinquished;
2. Asbestos & Lead
arising from asbestos or any
asbestos-containing materials or lead-based paint installed or applied in, on
or to any
building or other structure. This exclusion does not apply to Claims for
Clean-Up Costs for the remediation of soil and
groundwater;
3. Contractual Liability
arising from liability of others assumed by the Insured under any
contract or agreement or contractual obligations that are stricter than the existing legal liability, unless the liability of
the Insured would have attached in the absence of such contract or
agreement or the contract or agreement is an Insured Contract;
4. Employer Liability
i. arising from Bodily Injury
sustained by an Employee which arises out of and in the course of their
employment; ii. imposed by the provisions of any:
a. workers’
compensation legislation or under any similar legislation; or
b. accident
compensation legislation or under any similar legislation;
iii. for any
obligation for which the Insured may be held liable under any Worker's
Compensation Law or under any
similar
law;
This exclusion applies whether the Insured is
liable as an employer or in any other capacity and to any obligation to share Loss with or repay Third Parties who must pay Loss arising
from such Bodily Injury;
5. Expected or Unintended
arising out of:
i. Pollution Conditions that
are expected or intended from the standpoint of the Insured; ii. the Insured’s failure to:
1. make good
or remedy any defect or danger or take such additional precautions as may be
required as soon as
possible
after discovery of any Pollution Conditions;
2. implement any remedial measures reasonably likely to, necessary
for or required to prevent or avoid any matter
resulting
in Pollution Conditions;
3. take
reasonable steps, to use, maintain and upgrade their facility operations;
6. Fines
& Penalties
arising out of:
i. fines, penalties (civil or
criminal), liquidated, punitive, aggravated or exemplary damages;
ii. taxes;
iii. non-pecuniary relief;
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iv. matters which may be deemed uninsurable under the law pursuant to
which this Policy shall be construed;
7. Underground
Storage Tank
arising from Pollution Conditions resulting from an Underground
Storage Tank located on the Insured Property unless such Underground Storage
Tank is scheduled on the Policy by endorsement;
8. Intentional Noncompliance
arising from Pollution Conditions based upon
or attributable to any Responsible Insured's intentional, willful act or omission; or any deliberate non-compliance with any statute,
statutory instruments, by-laws, regulation, guidance or standards having the force of law or notice of violation, notice letter,
executive order, or instruction of any governmental or statutory agency
or body;
9. Internal
Expenses
for costs, charges or expenses incurred by the Insured for goods
supplied or services performed by any Insured, except if in the sole opinion of the Insurer such costs, charges or expenses
have been incurred in response to any emergency or pursuant to Environmental
Laws that require immediate remediation of Pollution Conditions, or unless such
costs, charges or expenses are incurred with the prior written approval of the
Insurer;
10. Insured
vs. Insured
by any Insured against any other person or
entity who is also an Insured under this Policy. This exclusion does not apply to Claims initiated by Third Parties or
Claims that arise out of an indemnification given by one Insured to another
Insured pursuant to an Insured Contract;
11. Material Change In Use
arising
from a change in operations (change, increase or decrease in the scope of
activity) at an Insured Property during the Policy Period that results in more stringent
remediation standards than those imposed on the Insured Property at the Inception Date will be considered material.
12. Prior Knowledge/Non-Disclosure
arising from Pollution Conditions existing
prior to the Inception Date and known by a Responsible Insured and not disclosed in the application for this Policy, or any previous
policy for which this Policy is a renewal thereof;
13. Products
Liability
arising from the Insured’s Products;
For purposes of this Policy Insured’s
Products means goods or products manufactured, sold, handled or distributed by the Insured or others trading under the Insured’s name, and
includes containers (other than automobiles, rolling stock, vessels or
aircraft), materials, parts or equipment furnished in connection therewith, and
includes warranties or representations made
at any time with respect to the fitness, quality, durability, performance or
use thereof, or the failure to provide warnings or instructions;
14. War
& Terrorism
arising out of, based upon or
attributable to any war (declared or otherwise), terrorism, warlike, military,
terrorist or guerrilla activity, sabotage,
force of arms, hostilities (declared or undeclared), rebellion, revolution,
civil disorder, insurrection, usurped poser, confiscation, nationalization or
destruction of or damage to property by or under the order of, any
governmental, public or local authority or any other political or terrorist
organization;
15. Transportation
arising out of Pollution Conditions that
result from the maintenance, use, operation, loading or unloading of any owned, leased or rented:
i. land motor vehicle, trailer
or semi-trailer licensed for travel on public roads, including any machinery or
apparatus
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attached thereto;
ii. aircraft,
watercraft or rolling stock
beyond the boundaries of the Insured Property.
16. Exclusions
related to sanctions and commercial embargos
The Insurer shall not assume any payment
obligation with respect to any damage otherwise covered by the Insurance
Contract and its extensions if:
• the Insured or the beneficiary is the
national or a government agency of a country against which the laws and/or
other regulations determining the present
insurance coverage and/or the Insurer, its parent company or the
operation of the company that has an
influence ensuring qualified majority in the Insurer, have introduced an
embargo or another economic sanction that prohibits the Insurer from entering
into insurance transactions or providing other economic
benefits to the Insured or any other beneficiary.
Furthermore, no payments shall be made to
the beneficiary/beneficiaries to whom/which no economic benefits shall be provided in accordance with the laws and/or
other regulations pertaining to the Insurer, its parent company or the company having influence that ensures qualified majority in
the Insurer.
4. NOTICE REQUIREMENTS AND CLAIM PROVISIONS
The Policyholder shall, as a condition precedent to
the obligations of the Insurer under this Policy, give written
notice to the
Insurer
of any Pollution Condition, Claim or Loss first
made against the Insured as soon as practicable and during
the Policy
Period,
or Extended Reporting Period if applicable. All notifications must be in writing or by
e-mail, and addressed to:
Colonnade Insurance S.A. Branch Office in Hungary
1426 Budapest
Pf. 153.
or via e-mail:
e-mail: vagyonkar@colonnade.hu
or other address(es) as substituted
by the Insurer in writing.
If posted, the date of posting shall constitute the date
that notice was given, and proof of posting shall be sufficient proof of
notice.
5.
COOPERATION, DEFENCE AND
SETTLEMENT IN THE EVENT OF
POLLUTION CONDITIONS
A. The Insured will at their own cost: (i) render
all reasonable assistance to the Insurer and co-operate in the defense of any
Claim or Loss and
the assertion of indemnification and contribution rights; (ii) use due
diligence and do and concur in
doing all things reasonably
practicable to avoid or diminish any Claim or Loss under this Policy; give such
information and assistance to the Insurer as the Insurer may reasonably
require to enable it to investigate any Claim or
Loss or determine
the Insurers’ liability under this Policy;
B. The Insured has the duty to
Clean-Up Pollution
Conditions to the extent required by Environmental Laws, by retaining
competent professional(s) or
contractor(s) mutually acceptable to the Insurer and the Insured.
The Insured shall notify
the Insurer of all
actions and measures taken pursuant to this paragraph;
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. The Insurer shall have the
right but not the duty to defend any Claim or Loss covered under
this Policy, and the Insured
shall defend and contest
any Claim or Loss made against them unless the Insurer, it its sole and absolute
discretion, elects
in writing to take over and conduct
the defense and settlement of any Claim or Loss. If the Insurer does not so elect, it
shall be entitled, but not
required, to participate fully in such defense and the negotiation of any
settlement that involves
or appears reasonably likely
to involve the Insurer. Whenever considering the legal
rules the Insurer has the right at any
time
after notification of a Claim or Loss to make payment to the Insured of the unpaid balance of the Limit of
Liability,
and upon
making such payment, all obligations of the Insurer to the Insured under this Policy, including, if
any, those
relating to defense, shall
cease;
D. As a
condition precedent to cover under this Policy, no Insured shall admit or assume any liability,
enter into any
settlement agreement, consent
to any judgment, or incur any Defense Costs without the prior written consent of the
Insurer. Only those settlements, judgments and
Defense Costs consented by
the Insurer, and judgments
resulting from
Claims or Losses defended in accordance with this
Policy, shall be recoverable under this Policy. The Insurer’s consent
shall
not be unreasonably withheld, provided that the Insurer shall be entitled to exercise all of
its rights under the Policy;
E. As a
condition precedent to cover under this Policy, the Insured must submit all Mitigation Expense documentation in
wiring to the Insurer for review and approval. Only those Mitigation Expenses
validated by the Insurer as appropriate in
their sole discretion shall be
reimbursed subject to the Limit of Liability of this policy;
F. The Insurer may make any settlement of any Claim or Loss, subject to such
Insured’s written consent.
If any Insured
withholds consent to such settlement, the Insurer’s liability
for all Loss on account of such Claim or Loss shall
not exceed
the amount for which the Insurer could have settled such Claim or Loss, plus Defense Costs incurred as of the date of
such settlement was first
proposed in writing by the Insurer, less any coinsurance (if any) and
the applicable Deductible.
6.
LIMIT OF LIABILITY AND
DEDUCTIBLE
The following Limit of Liability
Section shall apply irrespective of the number of Claims, claimants, Pollution Conditions, Losses or Insureds under
this Policy:
A. Policy
Aggregate Limit
The Insurer's
total liability for all Loss shall not exceed the “Policy Aggregate” shown in the
Policy Schedule.
If the Insured comprises more than one party, the Insurer will
provide indemnity to each in the same manner and to our same extent as if a separate policy had been issued to each; provided
that the Insurer’s total
liability for liability sustained by any or all of the Insured’s combined shall not exceed the Limit of Liability stated in the Policy Schedule.
If notice of a Claim or Loss against an Insured is given to the Insurer pursuant to the terms and conditions
of this Policy,
then: (i)
any subsequent Claim or Loss alleging, arising out of, based upon or attributable to
the facts alleged in that
previously
noticed Claim or Loss; and (ii) any subsequent Claim or Loss alleging any Loss which is the same as or related
to any Loss alleged in that previously noticed Claim or Loss, shall be considered made against the Insured and reported
to the Insurer at the time notice was first given.
Any Claim or Loss arising out of, based upon or attributable to (i) the
same
cause, or (ii) a single Loss, or (iii) a
series of continuous, repeated or related Loss, shall be considered a single Loss
for the
purposes of this Policy.
B. Deductible
This Policy will pay covered Loss in excess of the Deductible amount
stated in the Policy Schedule. The Deductible amount applies to all Loss including Defence Costs arising from the same, related or
continuous Pollution
Conditions.
The Insured shall
within 8 days reimburse the Insurer for advancing any element of Loss
falling within the Deductible.
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7.
CONDITIONS
A. Representations
-
By accepting this Policy the Insured agrees that:
i. the statements in
the proposal, submission, and any attachments are accurate and complete and
acknowledges that
the Insurer has issued this Policy in reliance upon those
representations.
ii. the due observance of the terms of this Policy by all Insureds in so far as they relate to
anything to be done or complied
with are conditions
precedent to any liability of the Insurer with consider to the legal rules.
B. Assignment - This Policy
and any rights hereunder cannot be assigned without the written consent of the Insurer, which
consent shall not be unreasonably withheld or delayed.
C. Changes - This Policy can be changed only by a written endorsement
that the Insurer makes to this Policy.
D. Policy Period and the cancellation - The insurance contract may be concluded either for a
defined or an undefined period.
The insurance contract concluded for a defined period
ceases automatically at the end of such period but the Insurer and
the Policyholder agrees in writing on renewal before the end of the
period. With one sided statement the renewal is not possible, for being valid it is necessary to have the common, expressed
and written will off the Insurer and the Policyholder. Without this the contract ceases at
the end of the period.
If the insurance contract is concluded for an undefined
period the period the contract is 12 (twelve) months. In case the contract is
not cancelled by any of the parties at the end of the period, a new period of
12 months begins automatically. The anniversary date is the inception day of
the contract unless otherwise specified on the schedule.
If the insurance contract is concluded for an undefined
period, it might be cancelled in writing as of the date of expiry of the period
or renewal. Cancellation period is thirty days.
The policy may be cancelled by the Policyholder by mailing written prior notice to
the Insurer or by surrender of this Policy to the Insurer or its authorized agent including
the date of cancellation.
The policy may be cancelled by the Insurer delivering to the Policyholder to its address concluded into the
contract by post
mail or other written form and in case of postal mailing it should be
considered as delivered on the second day after posting. The cancellation is
void if it was made within 30 days before the policy period ends.
The insurance contract concluded for
a defined period can’t be cancelled by the Insured and
the Policyholder either.
E. Other Insurance - Where other
insurance may be available for Loss covered under
this Policy, the Insured shall promptly
upon the request of the Insurer provide the Insurer with copies of all such policies. If
other valid and collectible insurance, self-insurance programme or any equivalent
policy irrespective of the amount thereof is available to the Insured for Loss
covered by this Policy, the Insurer will contribute by limits. Under
this method, each insurer’s share is based on the ratio of its applicable limit
of liability to the total applicable limits of liability of all insurers.
F. Right of Access and Inspection - To the extent
that the Insured has such rights,
any of the Insurer's authorized
representatives shall have the right
and opportunity but not the obligation to interview any Insured and to inspect at
any
reasonable time, during the Policy
Period or
thereafter, the Insured
Property. Neither the Insurer nor its
representatives shall assume
any responsibility or duty to the Insured or to any other party, person or
entity, by reason
of such
right or inspection. Neither the Insurer's right to make inspections, sample and
monitor, nor the actual
undertaking
thereof nor any report thereon shall constitute an undertaking on behalf of the
Insured or others, to
determine or warrant that the
Insured Property or operations are safe, healthful or conform to
acceptable engineering
practices
or are in compliance with any Environmental
Law or any
other law, rule or regulation. The Policyholder agrees
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at their own cost to provide
appropriate personnel and any other resources to assist the Insurer’s
representatives during any inspection.
G. Access
to Information - The Policyholder agrees to
provide the Insurer with access to
any information developed or
discovered by the Insured concerning Loss covered under this Policy, whether or
not deemed by the Insured to be
relevant to such Loss and to provide the Insurer access to interview any Insured and review any documents of the
Insured.
H. Jurisdiction & Governing Law- Any interpretation of this Policy relating to its
construction, validity or operation shall be
made in accordance with the Laws of Hungary or the law
applicable signed on the Schedule.
I. Dispute Resolution Jurisdiction - All disputes
or differences concerning the construction or interpretation of the
provisions of this Policy, whether
arising before or after termination of this Policy, shall be submitted to
arbitration in
Finland
according to the prevailing Arbitration Rules of the Central Chamber of
Commerce of Finland. The language to
be used
in the arbitration proceedings shall be English. The arbitration shall be
conducted by a panel of three arbitrators
having
knowledge of the legal and insurance issues relevant to matters in dispute. The
Insurer and the Policyholder shall
each
name one arbitrator and the third shall be appointed by the Arbitration
Institute. In the event of arbitration, the
decision of the arbitrators
shall be final and binding and provided to both parties, and the arbitrators
shall not be asked
to, and
shall not award attorneys’ fees or other costs. The costs of the arbitrators,
mediators and any arbitration fees
will be
borne equally by the Insurer on the one
hand and the relevant Insureds on the other.
Otherwise, each party shall
bear its own costs of
arbitration. In the event that separate disputes arise between the Insurer and
several Insureds on
related
matters, these shall be resolved together or consecutively as the arbitrators
or mediator shall consider
appropriate.
J. Acknowledgment of Shared Limits -
By acceptance of this Policy, the Policyholder
understands, agrees and
acknowledges that the Policy contains
a Policy Aggregate Limit that is applicable to, and will be shared by, all Insureds who are or may become covered hereunder. In view of the
operation and nature of this shared Policy Aggregate Limit, the Policyholders and all other Insureds understand and agree that prior to
filing a Claim under the
Policy, the Policy Aggregate
Limit may be exhausted or reduced by prior payments for other Claims under
the Policy.
K. Bankruptcy
or Insolvency - The
Policyholder’s bankruptcy, insolvency or inability to pay the Deductible
or the
bankruptcy, insolvency or inability to pay of any of the
underlying insurers will not relieve the Insurer from
the payment
of the Loss covered by this Policy. But under no
circumstances will such bankruptcy, insolvency or inability to pay require the Insurer to drop down, replace or assume any
obligation under any primary
insurance.
L. Reasonable Care - The Insured shall take all
reasonable care to prevent injury or Loss or damage and to maintain the
premises, plant and all
other business assets in good repair, and to comply with all statutory
obligations and regulations.
M. Extended
Reporting Periods - If the Insurer cancels or does
not renew this Policy, other than for non-payment of Premium
or any breach of the terms
of this Policy by an Insured, the Policyholder shall have the right to a period of
60 days
following the date of cancellation or
expiration in which to give notice of any covered Loss arising from Pollution Conditions that commenced before the end of the
Policy Period. The Extended Reporting Period shall not apply if this Policy or
its cover has been replaced. However with additional premium the Policyholder
and the Insurer shall have the right to agree on a
different Extended Reporting Period including on the Schedule.
N. Administration- The Policyholder has acted and shall act on behalf of
each and every Insured with respect to:
(1)
negotiating terms and
conditions of, binding and amending cover; (2) exercising rights of Insureds; (3) notices; (4)
Premiums; (5) endorsements; (6)
dispute resolution; and (7) payments to any Insured.
O. Plurals,
Headings and Titles- The descriptions in the headings and titles of this
Policy are solely for reference and
convenience and do not lead
any meaning to this contract. Words and expressions in the singular shall
include the plural
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and vice versa. In this Policy, words in bold typeface have special meaning and are defined. Words that
are not specifically
defined in this Policy have the meaning normally attributed to them.
P.
Lapse- Any
claim arising under this contract shall lapse within two years of the due date.
Q. Premium payment - The insurance premium under this
contract is due on the day of Inception
Date. If the
contract is
renewed - and the Schedule does not state otherwise - the
premium is due on the date of renewal with a precondition
of getting an invoice by the Policyholder.
Should the Contracting Party fail to
settle the insurance premium (or the instalment if the parties agreed that the
premium
shall be
paid in instalments) on or before the due date, the Insurer shall be entitled
to request payment in writing, by
granting
a 30-day grace period and also warning the Contracting Party to the
consequences of non-payment. The
Insurance
Contract shall terminate retroactively with effect of the original due date if
the grace period expires without
the
Contracting Party settling the Insurance Premium, unless the Insurer takes
legal action as to the enforcement of its
claim
before court without delay. Should the Contracting Party fail to pay the due
Insurance Premium (premium
instalment) and the Insurer
fail to send its request of payment as stated above, the contract shall
terminate at the end of
the insurance period.
In respect of
the present Insurance Contract the Insurance Premium is considered to be
continuous in the following cases:
- any premium under an insurance contract
concluded for indefinite period which is due for a Contract period other
than the first, or is not the first instalment within the first
period,
- any premium
instalment within the Contract period other than the first in case the
insurance contract is concluded for
a definite period and the premium is paid in instalments.
In case the due insurance premium is
paid only in part and the Insurer, in conformity with the above, notifies the Contracting
Party to complete the payment but such notification has no result, the
Insurance Contract shall continue with unchanged sum insured for a period in
proportion with the premium paid.
Should the Insurance contract
terminate due to non-payment of the continuous insurance premium in accordance
with
above,
the Contracting Party shall be entitled to request the Insurer to reactivate
the insurance coverage within one
hundred
and twenty days from the date of termination of the Insurance Contract. The
Insurer may reactivate the
insurance
coverage under the terms and conditions of the terminated contract on condition
that the formerly due
insurance premium is paid.
Disputes and complaints handling
The Insurer will make every effort to ensure that the
Policyholder or an Insured Person receives a good standard of service. If the
Policyholder or an Insured Person is not satisfied with the Insurer’s service
he or she should lodge complaints.
Should any complaint arise with
regard to the services or the fulfilment of the insurance contract, we
undertake the obligation to inform our client on the right to submit a complaint in
writing to the
General Manager of Colonnade Insurance S.A. Hungarian Branch Office (hereinafter
referred to as the Insurance Company) via post, e-mail or facsimile (postal
address: 153 Pf. , Budapest, H-1426, Hungary, facsimile: +36 1
461499; e-mail address: info@colonnade.hu) and in person or via telephone at the Customer Service of
the Insurance Company during opening hours (address: 99 Váci út, Budapest,
H-1139, Hungary; telephone number: +36 1 4601400).
The Insurance
Company shall send its answer in writing to the complainant within 30 (thirty)
days of receipt of the complaint.
In case of the rejection of the
complaint or if the 30-day period for the examination of the complaint
prescribed by law as
the
deadline for response ends abortively, the client not qualifying as a consumer
shall be entitled to challenge the
inadmissible
decision of Colonnade Insurance S.A. Hungarian Branch Office (99 Váci út,
Budapest, H-1139 Hungary) before
the court. In this case,
the civil action shall be brought before the competent Hungarian court against
Colonnade Insurance
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S.A. Hungarian Branch Office (99 Váci
út, Budapest, H-1139, Hungary).
The Complaints Regulation of the
insurer is available at the Customer Service of the Insurance Company and on
the
http://www.colonnade.hu website.
Information on professional secrecy and personal data management
Insurance secret shall mean all data - other than
classified information - in the possession of insurance companies,
reinsurance companies and
insurance intermediaries that pertain to the personal circumstances and
financial situations (or
business affairs) of their
clients (including claimants), and the contracts of clients with insurance
companies and reinsurance
companies.
Insurance and reinsurance companies
are entitled to process the insurance secrets of clients only to the extent
that they relate
to the relevant insurance contract, with its creation and registration, and to
the service. Processing of such data shall take
place only to the extent necessary for the conclusion, amendment and
maintenance of the insurance contract and for the evaluation of claims arising
from the contract or for any other purpose specified in the Insurance Act.
Insurance and reinsurance companies
shall obtain the data subject’s prior consent for processing data for purposes
other than
what is contained in Subsection (1) Section 135 of Act LXXXVIII of 2014
(Insurance Act). The client shall not suffer any disadvantage if the consent is not granted, nor shall be
given any advantage if it is granted.
Unless otherwise provided for by law, the owners,
directors and employees of insurance and reinsurance companies, and all other persons having access to insurance secrets in
any way during their activities in insurance-related matters shall be subject
to the obligation of professional secrecy without any time limitation.
According to the Act on the
Processing and Protection of Personal Data in the Field of Medicine
(hereinafter referred to as “PDFM”),
insurance companies shall be authorized to process any data pertaining to the
medical condition of clients only for those 3 reasons set out in Subsection (1)
of Section 135 of the Insurance Act, in accordance with the provisions of PDFM
and only in possession of the express written consent of the data subject.
Insurance secrets may only be disclosed to third parties:
a) under the express prior written
consent of the insurance or reinsurance company’s client to whom they pertain,
and
this consent shall precisely specify the insurance secrets that
may be disclosed;
b)
if there is no obligation of professional secrecy under the Insurance
Act;
c) if the certification body, including its
subcontractor, hired by an insurance or reinsurance company, received such
confidential information in carrying out the certification
process.
The requirement of confidentiality
concerning insurance secrets shall not apply to:
a)
the Authority in exercising its designated functions;
b)
the investigating authority and the public prosecutor’s office after
ordering the investigation;
c) the court of law in connection with criminal
cases, civil actions or non-contentious proceedings, and administrative
actions, including the
experts appointed by the court, and the independent court bailiff, the
administrator acting in
bankruptcy proceedings, the temporary
administrator, extraordinary administrator, liquidator acting in liquidation proceedings in
connection with a case of judicial enforcement, the principal creditor in debt
consolidation procedures of natural persons,
the Családi Csődvédelmi
Szolgálat (Family Bankruptcy
Protection Service), the
family administrator,
the court;
d)
notaries public, including the experts they have appointed, in
connection with probate cases;
e) the tax authority in the cases referred to in
Subsection (2); the national security service when acting in an official
capacity,
g)
the Gazdasági Versenyhivatal (Hungarian Competition Authority) acting in
an official capacity;
h) guardians
acting in an official capacity,
i) the government body in charge of the
healthcare system in the case defined in Subsection (2) of Section 108 of Act
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CLIV of 1997 on Health Care;
j) bodies
authorized to use secret service means and to conduct covert investigations if
the conditions prescribed in
specific other act are provided for;
k) the reinsurer and in case of co-insurance, the
insurers underwriting the risk,
l) with respect to data transmitted as governed
by law, the bureau of insurance policy records maintaining the central
policy records, the claims registry
body operating the central claims history register, furthermore, the national transport authority and the Central
Office for Administrative and Electronic Public Services in respect of any
official affairs related to road traffic management tasks concerning motor
vehicles not covered by the register [while upon receipt of a written request from a body or person referred to in
Paragraphs a)-j), n) and s) of Subsection (1) of Section 138 of the Insurance Act indicating the name of the client or
the description of the insurance contract, the type of data requested
and the purpose of and the grounds for requesting data, with the exception that
the bodies or persons referred to in Paragraphs p)-s) are required to indicate
only the type of data requested and the purpose and grounds for requesting it. An indication of the statutory provision
granting authorization for requesting data shall be treated as verification of
the purpose and legal grounds.
m) the receiving insurance company
with respect to insurance contracts conveyed under a portfolio transfer
arrangement, as provided for by the relevant agreement;
n) with respect to the information required for
settlement and for the enforcement of compensation claims, and also
for the conveyance of these
among one another, the body operating the Compensation Fund and/or the Claims
Guarantee Fund, the National Bureau,
the correspondent, the Information Centre, the Claims Organization, claims
representatives and claims adjustment representatives, or the responsible party
if wishing to access - in exercising the right of self-determination - the particulars of the
other vehicle that was involved in the accident from the accident report for the purpose of
settlement;
o) the outsourcing service provider with respect
to data supplied under outsourcing contracts; the tax auditor in respect
to data supplied under tax
audit agreements [while, upon receipt of a written request from a body or
person referred
to in Paragraphs a)-j), n) and s) of Subsection (1) of
Section 138 of the Insurance Act indicating the name of the client
or the
description of the insurance contract, the type of data requested and the
purpose of and the grounds for
requesting
data, with the exception that the bodies or persons referred to in Paragraphs
p)-s) are required to indicate
only the type of data requested and
the purpose and grounds for requesting it. An indication of the statutory
provision
granting authorization for requesting data shall be treated as verification of
the purpose and legal grounds.]
p) third-country insurance companies and
insurance intermediaries in respect of their branches, if they are able to
satisfy the requirements
prescribed by Hungarian law in connection with the management of each datum and
the
country in which the third-country insurance company is
established has regulations on data protection that conform to the requirements
prescribed by Hungarian law;
q) the
commissioner of fundamental rights when acting in an official capacity;
r) the Nemzeti
Adatvédelmi és Információszabadság Hatóság (the National Authority for data
Protection and Freedom
of Information) when acting in an official capacity.
s) the insurance
company in respect of the bonus-malus system and the bonus-malus rating, and
the claims record and
the bonus-malus rating in the cases specified in the decree on
the detailed rules for the verification of casualties,
t) the agricultural damage survey body, the
agricultural administration body, the agricultural damage compensation
body, and the institution delegated to conduct economic
assessments under the supervision of the ministry directed
by
the minister in charge of the agricultural sector in respect of insured persons
claiming any aid for the payment of agricultural insurance premiums;
u)
the authority maintaining a register of liquidator companies.
upon receipt of a written request from
a body or person referred to in Paragraphs a)-j), n) and s) of Section 138 of
the
Insurance Act indicating the
name of the client or the description of the insurance contract, the type of
data requested and
the purpose of and the
grounds for requesting data, with the exception that the bodies or persons
referred to in Paragraphs
p)-s) are required to indicate only the type of data
requested and the purpose and grounds for requesting it. An indication of
the
statutory provision granting authorization for requesting data shall be treated
as verification of the purpose and legal
grounds.
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Pursuant to Paragraph e) of
Subsection (1) of Section 138 of the Insurance Act, there shall be no
confidentiality obligation concerning insurance secrets in connection with tax
matters where the insurance company is required by law to disclose specific
information to the tax authority upon request and/or to disclose data
concerning any payment made under an insurance
contract that is subject to tax liability.
The requirement of confidentiality concerning insurance
secrets shall not apply to financial institutions stipulated by the Act
on
Credit Institutions and Financial Enterprises with regard to an insurance
contract related to any receivable arising out of
financial
service, provided that the financial institution submits its request in writing
to the insurance company which
contains
the name of the client or the insurance contract, all types of data requested,
the purpose of the information request
and its
title.
The disclosure made by the insurance company to the tax
authority in compliance with the obligation prescribed in Sections 43/B-43/C of
Act XXXVII of 2013 on International Administrative Cooperation in Matters of
Taxation and Other Compulsory Payments
(hereinafter referred to as “IACA”) in accordance with Act XIX of 2014 on the
Promulgation of the Agreement between
the Government of Hungary and the Government of the United States of America to
Improve International Tax Compliance
and to Implement FATCA, and on the Amendment of Certain Related Acts
(hereinafter referred to as “FATCA Act”) shall not be construed as
violation of insurance secrets.
Insurance and reinsurance companies
shall be authorized to disclose the personal data of clients in the cases and
to the agencies indicated in
Subsections (1) and (6) of Section 138 and in Sections 137, and 140 of the
Insurance Act.
The obligation of insurance secrecy shall apply to the
employees of the agencies specified in Subsection (1) of Section 138 of the
Insurance Act beyond the purview of any legal process.
Insurance and reinsurance companies
shall be required to supply information forthwith where so requested in writing
by the national security service,
the public prosecutor or the investigating authorities under the prosecutor’s
consent if there is any suspicion that an insurance transaction is associated
with:
a) misuse of narcotic drugs, illegal possession
of new psychoactive substances, acts of terrorism, criminal misuse of
explosives or blasting agents, criminal misuse of firearms and
ammunition, money laundering, or any felony offense
committed in criminal conspiracy or within the framework
of a criminal organization under Act IV of 1978 in force until 30 June 2013,
b) unlawful drug trafficking, possession of
narcotic drugs, inciting substance abuse, aiding in the manufacture or
production of narcotic drugs, illegal possession of new
psychoactive substances, acts of terrorism, failure to report a
terrorist act, terrorist financing,
criminal misuse of explosives or blasting agents, criminal misuse of firearms
and ammunition, money laundering,
or any felony offense committed in criminal conspiracy or within the framework
of a criminal organization under the Criminal Code.
The obligation of confidentiality
concerning insurance secrets shall not apply where an insurance or reinsurance
company complies
with the obligation of notification prescribed in the Act on the Implementation
of Restrictive Measures Imposed by the European Union Relating to Liquid Assets
and Other Financial Interests.
The disclosure of the group examination report to the
dominating member of the financial group during the supervisory oversight proceedings in the case of
group supervision shall not constitute a breach of confidentiality concerning
insurance secrets and trade secrets.
The disclosure
of information provided in compliance with Section 164/B shall not be construed
a breach of insurance secrets.
The obligation to keep insurance secrets shall not apply when:
a)
a Hungarian law enforcement agency makes a written request for
information - that is considered insurance secret -
in order to fulfil the written requests made by a foreign law
enforcement agency pursuant to an international
agreement;
b)
the national financial intelligence unit makes a written request for
information - that is considered insurance secret
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- acting within its powers conferred
under the Act on the Prevention and Combating of Money Laundering and Terrorist Financing or in order to
fulfil the written requests made by a foreign financial intelligence unit.
It shall not constitute a violation of insurance secrecy
where an insurance or reinsurance company supplies information to a
third-country insurance or reinsurance company or a third-country data
processing agency:
a)
if the client to whom such information pertains (hereinafter referred to
as “data subject”) has given his prior written
consent, or
b)
if - in the absence of the data subject’s consent - the data is
disclosed within the scope, for the purposes and on the
legal grounds specified by law, and the level of protection
available in the third-country satisfies either of the
requirements prescribed in Subsection
(2) of Section 8 of Act CXII of 2011 on the Right of Informational Self-
Determination and on Freedom
of Information (hereinafter referred to as “Info Act”).
The provisions governing data
disclosure within the domestic territory shall be observed when sending data
that is treated as an insurance secret to another Member State.
The following shall not be construed
a breach of insurance secrecy:
a)
the disclosure of data compilations from which the clients’ personal or
business data cannot be identified;
b)
in respect of branches, transfer of data for the purpose of supervisory
activities to the supervisory authority of the
country where the registered address (main office) of the
foreign-registered company is located, if such transfer is in
compliance with the agreement between
the Hungarian and the foreign supervisory authorities;
c) disclosure of information, other than
personal data, to the minister for legislative purposes and in connection with
the completion of impact assessments;
d) the disclosure
of data in order to comply with the provisions contained in the Act on the
Supplementary Supervision
of Financial Conglomerates.
(2) Insurance and reinsurance
companies may not refuse to disclose the data specified in Subsection (1) of
Section 141 of the Insurance Act on the grounds of protection of insurance
secrets.
The personal data indicated in the
data transfer records and the data covered by Section 136 of the Insurance Act,
or the data treated as special data
under the Info Act shall be deleted, respectively, after five years and twenty
years following the date of disclosure.
The insurance or reinsurance company shall not be
authorized to notify the data subject when data is disclosed pursuant to
Paragraphs b), f) and j) of Subsection (1) of Section 138 or Subsection (6) of
Section 138 of the Insurance Act.
Insurance and reinsurance companies
shall be entitled to process personal data during the life of the insurance or
reinsurance contract or other contractual relation, and as long as any claim
can be asserted in connection with the insurance, reinsurance or contractual
relation.
Insurance and reinsurance companies
shall be entitled to process personal data relating to any unconcluded
insurance or reinsurance
contract as long as any claim can be asserted in connection with the failure of
the contract.
Insurance and reinsurance companies shall be required to
delete all personal data relating to their current or former clients or to any
frustrated contract in connection with which the data in question is no longer
required, or the data subject has not given consent, or if it is lacking the
legal grounds for processing such data.
(3) Within the meaning of the
Insurance Act, the processing of data related to deceased persons shall be
governed by the statutory provision on the processing of personal data.
The rights of a deceased person in terms of data processing may be exercised by
the heir or by the person named as the beneficiary in the insurance contract.
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Trade secrets of insurance companies and reinsurance companies
Insurance and reinsurance companies
and their owners, any proposed acquirer of a share in an insurance or
reinsurance company, as well as the senior executives, non-management officers
and employees, agents of insurance or reinsurance companies shall keep any trade secrets
made known to them in connection with the operation of the insurance or reinsurance company confidential
without any time limitation.
The obligation of confidentiality prescribed in Section
144 of the Insurance Act shall not apply to the following in exercising their
designated functions:
a) the Authority;
b)
the national security service;
c)
the Állami Számvevőszék (State Audit Office);
d)
the Gazdasági Versenyhivatal (Hungarian Competition Authority);
e)
the internal oversight agency tasked by the Government, which controls
the legality and propriety of the use of
central budget funds;
f) property administrators;
g)
the Információs Központ (Information Center);
h) the agricultural damage survey body, the
agricultural damage compensation body, the agricultural administration
body, and the institution delegated to conduct economic
assessments under the supervision of the ministry directed
by the minister in charge of the agricultural sector in
respect of insured persons claiming any aid for the payment of agricultural
insurance premiums.
The disclosure made by an insurance company to the tax
authority in compliance with the obligation prescribed in Sections 43/B-43/C of
the IACA in accordance with the FATCA Act shall not be construed as violation
of trade secrets.
(3) The disclosure of information by
the Authority to the European Insurance and Occupational Pensions Authority (hereinafter referred to as “EIOPA”)
as provided for in Regulation (EU) No. 1094/2010 of the European Parliament and
of the Council of 24 November 2010
establishing a European Supervisory Authority (European Insurance and
Occupational Pensions Authority), amending Decision No. 716/2009/EC and
repealing Commission Decision 2009/79/EC (hereinafter referred to as
“Regulation 1094/2010/EU”) shall not be construed as violation of trade
secrets.
The obligation of confidentiality
prescribed in Section 144 of the Insurance Act shall not apply to:
a)
the investigating authority and the public prosecutor’s office after
ordering the investigation;
b) the court of law in connection with criminal
cases, civil actions and non-contentious proceedings, and the judicial
review of administrative
decisions, including the experts appointed by the court, and the independent
court bailiff
in connection with a case of judicial enforcement, and to
the court in local government debt consolidation procedures.
(5) The disclosure of information by the Authority to the
minister in charge of the money, capital and insurance markets on insurance and
reinsurance companies, enabling individual identification, for legislative
purposes and in connection with the completion of impact assessments shall not
be construed a breach of trade secrecy.
(6) The disclosure of information by the Information
Centre in an official capacity shall not be construed a breach of trade
secrecy.
The person acquiring any trade
secrets shall keep them confidential without any time limitation.
By virtue of the obligation of
secrecy, no facts, information, know-how or data within the sphere of trade
secrets may be disclosed
to third parties beyond the scope defined in the Insurance Act without the
consent of the insurance or reinsurance company, or the client concerned, or
used beyond the scope of official responsibilities.
The person acquiring any trade secrets
may not use such for his own benefit or for the benefit of a third person,
whether directly
or indirectly, or to cause any disadvantage to the insurance or reinsurance
company affected, or its clients.
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In the event of dissolution of an insurance or reinsurance
company without succession, the business documents managed by the insurance or reinsurance company and the
documents containing trade secrets may be used for archival research conducted
after sixty years of their origin.
Any information
that is declared by the Info Act to be information of public interest or public
information, and as such is
rendered subject to
disclosure may not be withheld on the grounds of being treated as a trade
secret or insurance secret.
Other matters relating to
insurance secrets and trade secrets shall be governed by the relevant
provisions of the Hungarian
Civil Code.
Data protection in relation to data exchanges between Insurance
Companies
In discharging the obligations
delegated by law, or fulfilling their contractual commitments, in order to
provide services in
compliance
with the relevant legislation or as contracted, and to prevent insurance fraud,
the Insurance Company shall - in
order
to protect the interest of risk groups of insureds - have the right to make a
request to another insurance company from
1 January, 2015 with respect to data
processed by this insurance company and referred to in Subsections (3)-(5) of
Section 149 of the Insurance Act in accordance with Subsection (1)
of Section 135 thereof, taking into account the unique characteristics of insurance products
affected. The request shall contain the information necessary for the
identification of the person, property or right defined therein, it shall
specify the type of data requested and the purpose of the request. Making a request and complying with
one shall not be construed a breach of insurance secrecy.
In this context the Insurance Company
may request the following data from other insurance companies:
Data listed in Paragraphs a) to e) of
Subsection 3 of Section 149 of the Insurance Act relating to the conclusion and
performance of the insurance
contracts pertaining to the insurance class stipulated in points 1 and 2 of
Section A of Annex 1 of the Insurance Act;
Data listed in Paragraphs a) to e) of
Subsection 4 of Section 149 of the Insurance Act relating to the conclusion and
performance
of the insurance contracts pertaining to the insurance class stipulated in
points 5, 6, 7, 8, 9, 16, 17 and 18 of Section A of Annex 1 of the Insurance Act; and
Data listed in Paragraphs a) to c) of
Subsection 5 of Section 149 of the Insurance Act relating to the conclusion and
performance
of the insurance contracts in case of the prior consent of the claimant
pertaining to the insurance class stipulated
in points 11, 12, and 13 of Section A of Annex 1 of the Insurance Act.
The requested insurance company shall
make available to the requesting Insurance Company the data requested in due compliance with
the law, inside the time limit specified in the request, or failing this,
within fifteen (15) days from the date of receipt of the request.
The requesting Insurance Company
shall be allowed to process data obtained through the request for a period of
ninety (90) days from the date of receipt.
If the data obtained by the requesting Insurance Company through the request is
necessary for the enforcement of that Insurance Company’s lawful
interest, the time limit specified above for data processing shall be extended
until the enforceable conclusion of the procedure opened for the enforcement of
such claim.
If the
data obtained by the requesting Insurance Company through the request for the
enforcement of the insurance company’s lawful interest, and the procedure for the
enforcement of such claim is not opened inside a period of one (1) year after the data
is received, such data may be processed for a period of one (1) year from the
date of receipt. The requesting Insurance
Company shall inform the client affected by the request concerning this request
and also if the request is satisfied, on the data to which it pertains, at
least once during the period of insurance cover.
If the client asks for information
regarding his data in accordance with the Info Act and the requesting insurance
company no
longer has the data to which the request pertains having regard to Subsections
8-10 of Section 149 of the Insurance Act, the client shall be informed thereof.
The requesting
Insurance Company shall not be allowed to connect the data obtained through the
request relating to an
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interest insured, with data it has
obtained or processed, for purposes other than the above. The requested
insurance company
shall be responsible for the correctness and relevance of the data indicated in
the request.”
Information on handling of personal data
Data controller: Colonnade Insurance S.A.
Contact details of the data protection officer:
email: dpo@colonnade.hu, Phone number: (06-1) 460-1400, Mailing
address: 1426 Budapest, Pf.:153
Categories of processed data:
personal data: any information relating to an
identified or identifiable natural person (‘data subject’); an identifiable
natural person is one who can be
identified, directly or indirectly, in particular by reference to an identifier
such as a name, place and time of birth, an identification number, address, an
online identifier
special data:
medical data
Purpose of data processing
The Insurance Company has the right to
process confidential insurance information of clients in relation to the
insurance contract,
its establishment, its registry and the service provided. Processing of such
data shall take place only to the extent necessary
for the conclusion, amendment and maintenance of the insurance contract and for
the evaluation of claims arising from the contract or for any other purpose
specified in the Act LXXXVIII of 2014.
Data processing purposes include
ensuring to comply with restrictive economic measures and anti-money laundering
and terrorist
financing obligations imposed by the United Nations, the European Union, or
other relevant organisations. The Insurance
Company shall transfer personal data (name) to its data processors residing in
the United States according to the adequacy decision by the Commission and
according to the Privacy Shield Framework.
Contracts established online via
colonnade.hu are subject to the Act XXV of 2005 and to the Act CVIII of 2001,
thus the
purpose
of data processing includes proving the compliance with the obligation to
provide consumer information; proving
the
establishment of the contract; establishing, modifying and monitoring the
fulfilment of a service provisioning contract
in relation to the
information society; billing for the services provided under the contract; and
enforcing the related claims.
The Insurance Company’s data
processing is either based on the establishment of the contract, or on the
voluntary consent
made by
the client during the submission of claims, service requests, information
requests regarding the contract. If
transferring
the medical data of a client outside the European Union is necessary in order
to protect the vital interests of the
data
subject regarding a travel insurance contract, the Insurance Company shall
inform the data subject of the transfer.
The Insurance Company processes
personal data obtained during complaint handling to comply with the Act
LXXXVIII of 2014, Section 159, and keeps a record of its clients’
complaints, and of actions taken to remedy these complaints. The Insurance Company’s data processing
is based on this provision of the Act LXXXVIII of 2014.
According to the above cited paragraph of the Act
LXXVIII of 2014, if the complaints are handled by telephone, the Insurance
Company shall record the conversation between the Insurance Company and the
client.
Period of data processing
Insurance company shall be entitled to process personal
data - medical data - concerning insurance secrets during the life of the insurance contract, and other contractual
relation, as long as any claim can be asserted in connection with the
contractual relation. Insurance
company shall be entitled to process personal data relating to any unconcluded
insurance contract as long as any
claim can be asserted in connection with the failure of the contract. According
to the Act C of 2000 on accounting Section 169, the accounting records
in relation to the establishment of the insurance contract, its registry and
the insurance services are retained by the Insurance Company for eight years.
The Insurance Company handles the information received
from other insurance companies during data exchanges with the
conditions and within the
time periods set out in the “Data protection in relation to data exchanges
between insurance
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companies” section.
During complaint handling, the sound
recordings are retained by the Insurance Company for five years. The Insurance Company retains
the complaint and the reply provided for a period of five years, and shall make
them available at the request of the authorities.
Legal basis for data processing
The legal bases of data processing
in relation to handling insurance contracts, registering insurance contracts,
and telephone customer services are the followings: the consent of the
data subjects; the Act LXXXVIII of 2014 Section 135; the Act C of 2000 Section
169. In case of online contracting or contracting via telephone, the legal
bases of data processing are the Act XXV of 2005 Section 2 and the Act CVIII of 2001, Section
13/A. Data in relation to a client’s health condition shall only be processed with the expressed written
consent of the data subject, in accordance with the Act XLVII of 1997.
The legal basis for data processing
in relation to customer complaints is the Act LXXXVIII of 2014 Section 159.
In case of restrictive economic
measures (embargo) imposed by the United Nations, the European Union, or other
relevant organisations, the legal basis for data processing is the
legitimate interest of the Insurance Company and the compliance with its legal obligation.
The data subject rights and exercising these rights
The data subjects’ rights include the
followings:
a) The client has the right to request access from the
controller regarding his/her personal data;
b) The client has the right to request the rectification of
inaccurate personal data or to have incomplete personal data
completed;
c) The
client has the right to request from the controller the erasure of personal
data or the restriction of processing
his/her data;
d) The client has the right to object to the processing of
personal data;
e) The client has the right to lodge a complaint with a
supervisory authority (NAIH);
f) The client has the
right to data portability; and
g) The client has the right to prohibit the usage of personal
data for direct marketing purposes.
a) Upon
the request of the client, the Insurance Company shall provide information in
writing on any and all Personal Data of him/her within 15 days about the
followings:
- the source and
categories of personal data;
- the purposes and
legal bases of data processing;
- where possible,
the envisaged period for which the personal data will be stored, or, if not
possible, the criteria used
to determine that period;
- the recipients or
categories of recipient to whom the personal data have been or will be
disclosed;
- the name and
address of the Data controller, and the issues relating to processing.
The Insurance Company shall provide
these information free of charge, if the client (natural person) has not
submited a request on the same data within the scope in the same
year. In other cases, a reasonable fee can be charged taking into account the administrative costs of
providing the requested information.
In addition to this, at the client’s
request the copy of the personal data shall be made available.
b) If a
data concerned is inaccurate, the client shall have the right to request and
have it promptly updated.
c) The
Insurance Company erase the personal data without undue delay if one of the
following grounds applies:
- the personal data
are no longer necessary in relation to the purposes for which they were
collected; or
- the data subject
withdraws consent, and there is no other legal ground for the processing;
unless, the data is for the
establishment, exercise or defence of legal claims, or for compliance with a
legal obligation.
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the Insurance Company erase the
personal data without undue delay for compliance with a legal obligation to
which the controller is subject, or if the personal data have been
collected in relation to the offer of information society services referred to the Act CVIII of 2001
section 8 paragraph 1.
The client shall have the right to
obtain restriction of processing from the controller where one of the following
applies:
- the accuracy of the personal data is
contested by the client, in that case restriction applies for a period enabling
Controller to verify the accuracy of the personal data
concerned;
- the processing is unlawful, and the data
subject opposes the erasure of the personal data and requests the
restriction of their use instead;
- the controller no longer needs the personal
data for the purposes of the processing, but they are required by the
data subject for the establishment, exercise or defence of
legal claims;
- the data subject
has objected to processing pursuant to Article 21(1) pending the verification
whether the legitimate
grounds of the controller override those of the data subject;
- the data subject
has objected to processing, in that case restriction applies for the period
during which it is verified
whether the legitimate
grounds of controller may override those of the client.
Where processing has been restricted,
such personal data shall be processed with the data subject's consent or for
the establishment, exercise or
defence of legal claims or for the protection of the rights of another natural
or legal person or for reasons of important
public interest of the Union or of a Member State. A data subject who has
obtained restriction of processing pursuant shall be informed by the
controller before the restriction of processing is lifted.
d) If the processing is necessary for the purposes of the
legitimate interests pursued by the controller or by a third party, the data subject shall have the right to
object, on grounds relating to his or her particular situation, at any time to
processing of personal data concerning him or her, including profiling based on
those provisions.
The controller shall no longer process the personal data
unless the controller demonstrates compelling legitimate grounds for the processing which override the interests,
rights and freedoms of the data subject or for the establishment, exercise or
defence of legal claims. The Insurance Company examine the claim within 15 days
and if it finds it a reasoned objection, the Company shall inform the Client
about the decision in writing.
Should any complaint arise regarding the processing of the
personal data, we undertake the obligation to inform our client on the right to object or submit a complaint
orally (in person, by telephone) or in writing to the Data controller of
Colonnade Insurance S.A. (email: dpo@colonnade.hu, Mailing address: 1426
Budapest, Pf.: 153)
e) The client shall have the right to lodge a complaint
before the supervisory authority (NAIH; H - 1125 Budapest, Szilágyi
Erzsébet
fasor 22/c.; Mailing address: 1530 Budapest, Pf. 5.; Phone number: (+36) 1 391
1400, Fax: (+36) 1 391 1410, E-mail:
ugyfelszolgalat@naih.hu,
Web: naih.hu) about the handling his or her complaint or objection relating to
the personal data
carried out by Controller, or
if the client finds any violation relating to the processing of the personal
data or an immediate
risk of that.
The client shall have the right to
submit the claim to the Court. Cases related to data protection fall within the
scope of regional
courts. Litigation depending from the plaintiff’s choice may be initiated
before the regional court competent for the plaintiff’s permanent or habitual
residence.
f) The
data subject shall have the right to receive the personal data concerning him
or her, which he or she has provided to
a
controller, in a structured, commonly used and machine-readable format and have
the right to transmit those data to
another
controller without hindrance from the controller to which the personal data
have been provided. The client shall
have the right to have the
personal data transmitted directly from one controller to another, where
technically feasible.
Further data processing activity
If the Insurance Company shall provide
information to the Authority specified in Section 138, Bit having regard to the
personal
data, the Insurance Company shall inform the data subject about the recipient
and the grounds of the data. The
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Insurance
company shall not be authorized to notify the data subject when data is
disclosed pursuant to Paragraphs b),
f) and j) of Subsection (1) of
Section 138 or Subsection (6) of Section 138, Bit.
Controller shall only provide the requested data in case
the actual purpose and the datasets concerned are clearly indicated by the
authority, and shall only provide data that is strictly necessary for
fulfilling the purpose of the request.
Notification of a Personal Data Breach to the Supervisory
Authority, Communication to the Data Subject
In the case of a personal data
breach, Controller shall without undue delay and, where feasible, not later
than 72 hours after having become aware of it, notify the personal data breach
to the competent supervisory authority, unless the personal data breach is unlikely to result in
a risk to the rights and freedoms of natural persons. Controller records any
personal data breaches, comprising the facts relating to the personal data
breach, its effects and the remedial actions taken.
Controller shall communicate the
personal data breach to the data subjects without undue delay if the personal
data breach is likely to result in a high risk to the rights and freedoms of
the concerned data subjects.
In addition to the above, Controller
takes every possible measure to avert the personal data breach in the most
efficient way and to ensure the protection of personal data at the highest
level.
Other provisions
The contact and information between
the Insurer and Insured Person occurs in Hungarian, and information shall be
made available free of charge. The
insurance company does not provide advice about the insurance products sold.
The insurance contract concluded on the basis of the
present regulation should only be amended in writing. This rule applies to the
case if the Policyholder and/or the Insurer wish to deviate from the insurance
terms and conditions.
Please find the annual report
covering their financial situation and solvency on our website: www.colonnade.hu/rolunk.
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8.
ANNEX 1 TO THE POLLUTION
LEGAL LIABILITY POLICY
On documents and other means of proof that are required for the
settlement of claim
In case of a loss event the
followings should be provided implicitly to the Insurer for the adjustment of
the claim
• immediate written
notice with the contact’s name and numbers, who will ensure the location survey
to the insurer
and/or its surveyor / expert,
• memorandum about the loss event and detailed
description about the circumstances
• photos
• internal and external authorities’
investigation documents, conclusion memos, decisions, and experts’ opinion
about
the cause of loss
• claim notifications from claimants, copy of
correspondence with them, memorandums about meetings
• documents verifying the existence, ownership
and value of damaged property, etc.
• documents verifying measures taken since the
event to prevent further losses and to mitigate losses occurred
• experts’ opinion and preliminary calculation
about the possible methods of reinstatement and its costs
• invoices, proof
of performance of the approved actions, destruction
• immediate written
notice if any official procedure was initiated against the insured to reimburse
damages to
claimants, then copies of
documents issued in such procedure (memorandums of hearings, summons,
decisions, etc.)
The insurer reserves the right to ask
for further or other documents, information and other proofs if these are
missing, or the
documents provided contain inconsistency or raise further issues to be cleared.
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