CASCO
Insurance Terms
and Conditions
1
CASCO Insurance Terms and Conditions
No. KASKO 1116
This is a translation from Latvian. In the event of any discrepancy between the Latvian and the English
wording, the terms and conditions in Latvian will prevail.
Swedbank P&C Insurance AS CASCO Insurance Terms and Conditions are in force from 15 November 2016.
We want Our CASCO insurance to benefit You and give You peace of mind in unexpected turn of events.
These CASCO Insurance Terms and Conditions describe what is insured and explain the principles of
indemnification for loss.
Our principles:
◊ We trust You when We enter into a contract or when We pay You indemnity.
◊ In case of theft or destruction of passenger vehicles or vans with gross weight of up to 3.5t, We
indemnify for the amount stated in the policy, which decreases by 1% on a monthly basis, or the market
value of the vehicle if it is higher.
◊ New, genuine parts are used in repairing vehicles that are up to five years old (except vehicle glass).
◊ The amount of the insurance premium does not depend on the number of instalments.
◊ We will refund You the premium paid if You wish to withdraw from the contract within 14 days of entry
into the contract.
Contact details
Sales, consultation
Phone: 67 444 449
E-mail: [email protected]
Claims handling
Phone: 67 444 449 (24 h)
E-mail: [email protected]
Address: Balasta dambis 15, Riga, LV-1048
www.swedbank.lv
Table of Contents
1. Definitions...........................................................................................................................................................................................4
2. CASCO Insurance Contract ..........................................................................................................................................................4
3. Insured Item and Its Value ............................................................................................................................................................5
4. What is Covered................................................................................................................................................................................5
4.1. Standard CASCO Insurance ................................................................................................................................................6
4.2. Extra CASCO Insurance........................................................................................................................................................8
4.3. Replacement vehicle..............................................................................................................................................................9
5. What to do in case of an accident ..............................................................................................................................................10
6. Principles of indemnification.......................................................................................................................................................11
7. Notices ..................................................................................................................................................................................................14
8. Personal Data Processing ............................................................................................................................................................14
9. If You’re not Satisfied .....................................................................................................................................................................15
1. Definitions
We, Us or Insurer means Swedbank P&C Insurance AS represented by Swedbank P&C Insurance AS Latvian
branch.
You or the Policyholder/the Insured means the person specified as the policyholder/the insured. A person
equivalent to You is an authorised user of the insured item, which means a person using the insured item
with the permission of the owner of the insured item.
Sum Insured means the maximum amount of money up to which We will indemnify for losses arising from a
single insured event.
Insured Event means an event specified in the insurance contract upon occurrence of which We incur an
obligation to pay indemnity.
Insurance Indemnity means the compensation for the losses You have incurred due to an Insured Event.
Excess means the amount that You must cover yourself in each Insured Event. The amount of excess is
specified in the policy. Excess may be set as a fixed amount of money or as a percentage of the amount of
loss.
Total Loss means damage to the vehicle where the cost of repairing it exceeds 70% (or less if decided so
by Us) of the value of the vehicle, or if repairing is not technically feasible or reasonable in terms of traffic
safety, as well as theft/robbery of the vehicle.
Mode of Use means the intended use of the vehicle specified in the insurance policy. Normal use is the
most common Mode of Use of a vehicle. The Mode of Use of a vehicle is not normal use when used as a
taxi or public transport vehicle, a short-term rental vehicle (the term of the rental agreement is less than 6
months), an emergency vehicle, a vehicle for driving practice, or a security vehicle.
2. CASCO Insurance Contract
CASCO insurance contract consists of:
◊ these terms and conditions of insurance;
◊ the insurance policy which shows the basic details of the contract and other important conditions.
Your duties upon entry into CASCO insurance contract
Before We can enter into a CASCO insurance contract with You, You must provide Us with:
◊ details of the vehicle;
◊ description or photos of any damages to the vehicle;
◊ information about the Mode of Use of the vehicle.
We presume that the information You furnish is true and accurate. We may, as set out in the CASCO
insurance contract, reduce the Insurance Indemnity, deny Insurance Indemnity or terminate the CASCO
insurance contract in case of false information being furnished to Us by You. Please notify Us immediately
if the information You’ve furnished changes during the insurance period.
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3. Insured Item and its Value
Insured item means the vehicle and its accessories. In Extra CASCO Insurance, the insured item also
includes personal belongings and Your physical condition and that of the passengers of the vehicle.
Vehicle means a land motor vehicle (e.g. a passenger car, lorry) specified in the insurance policy and
registered, or subject to registration, in the Republic of Latvia, and the items permanently attached to the
vehicle (e.g. audio equipment, wheel rims, additional lights).
Accessories means the items attached to the vehicle at the time of the Insured Event pursuant to the Mode
of Use: light trailer without cargo (with gross weight of up to 750 kg), root rack, roof box, bicycle rack, skis
rack, child’s seat, portable navigation devices and number plate. An extra set of tyres and/or wheel rims
that are kept in a locked storage space are also insured as accessories.
Glass means the vehicle’s external window glass, sunroof, panoramic roof, and exterior mirror glass.
Vehicle value means the sum of money specified in the policy at which the vehicle is insured and which
decreases by 1% each month during the insurance contact validity period.
In the event of total loss, the vehicle value will be increased by the reacquisition cost of accessories
installed to the vehicle.
For vehicles with the gross weight of up to 3.5t:
◊ the vehicle value will not be decreased during the first year after registration of a new vehicle;
◊ if the market value of the vehicle just before occurrence of an Insured Event exceeds the vehicle value,
then in case of Total Loss the Sum Insured of the vehicle and the vehicle value will be considered to be the
market value of the vehicle.
4. What is covered
You can choose between two insurance packages: Standard CASCO Insurance and Extra CASCO Insurance.
The insurance package is specified in the policy. In addition to Standard CASCO Insurance and Extra CASCO
Insurance, You can also buy a replacement vehicle cover.
Standard CASCO
Insurance
Extra CASCO
Insurance
All-risks cover
Yes
Yes
24-hour emergency assistance
Yes
Yes
Trip interruption
No
Yes
Loss or damage of keys
No
Yes
Damage to or theft of personal belongings
No
Yes
Cost of transportation to and from the repair shop
No
Yes
Accident insurance
No
Yes
Optional
Optional
Replacement vehicle
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4.1. Standard CASCO Insurance
All-risks cover
The insurance contract covers all risks, namely all sudden unforeseeable events that result in damage to or
destruction of the insured item, such as a fire, traffic accident, vandalism, natural disaster, theft and robbery,
except the following events:
◊ a traffic accident if the vehicle was driven by a person under the influence of alcohol or narcotics or other
intoxicant.
The blood alcohol content at the time the loss occurs may not exceed the permitted limit in the country
where the loss occurred. The driver is also presumed to have been under the influence of alcohol or
narcotics or other intoxicant if they:
–– refuse to take the alcohol, narcotic or other intoxicant test;
–– interfere with testing;
–– consume alcohol, narcotics or other intoxicant at the scene of the accident before the circumstances of
the accident are established.
◊ a traffic accident if the vehicle was driven by a person without the right to drive the particular type of
vehicle;
◊ wear and tear and corrosion of vehicle and its parts;
◊ internal damage of the insured item unless it results from external impact;
However: We will indemnify for losses incurred as a result of self-ignition.
◊ deliberate handing over of the insured item, its key or alarm remote control to a third party as a result of
which the insured item is misappropriated;
However: We will indemnify for the losses if You handed over the vehicle keys to a service provider for
provision of a service (e.g. repair and maintenance works, parking, car wash).
◊ an event which occurred when the vehicle was used for motor sports (incl. amateur sports or training),
testing or unofficial racing;
◊ the vehicle breaks through ice if the ice road is closed for public traffic;
◊ war or political armed conflict, rebellion, mass riot, strike, interruption of work, act of terrorism,
imposition of international sanctions, expropriation of property;
◊ an event caused by nuclear weapons, nuclear fuels, nuclear energy or radioactive substances or other
sources of radiation, explosions of nuclear or radioactive substances.
We have the right to reduce or deny Insurance Indemnity if:
◊ the damage was caused by You yourself intentionally;
◊ the vehicle has fallen into unauthorised use or was stolen due to negligent storage of the vehicle keys.
For instance, You have left the vehicle keys unattended in a public place or in the company of people or
You have made the keys available to third parties;
◊ in case of theft or loss of the vehicle keys, the vehicle’s locks were not changed or the immobiliser was
not recoded or the vehicle was not kept in a guarded car park or a locked garage;
◊ the vehicle has fallen into unauthorised use or was stolen and it is established that, at the moment the
crime was committed, the doors, windows, sunroof or other openings of the vehicle were not closed and
locked;
◊ unauthorised use or theft of the vehicle was not reported to the police;
◊ the speed limit was exceeded more than 30 km/h with the vehicle and this is in cause-and-effect
relationship with occurrence of the losses;
◊ You left the scene of the accident when it was necessary to call the police or the rescue service;
◊ the vehicle was equipped with summer tyres at the time when use of winter tyres is mandatory
pursuant to legislation, and this is in cause-and-effect relationship with occurrence of the losses;
◊ the damage was caused by insufficient quantity of fluid (incl. oil, cooling liquid) or its insufficient
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◊
◊
◊
◊
◊
◊
circulation in the equipment of the vehicle;
However: We will indemnify for the losses if the quantity of liquid was insufficient because of a traffic
accident, the loss occurred immediately after the traffic accident and You did everything You could to
avoid an increase in the losses given the circumstances.
the traffic accident occurred due to the technical condition of the vehicle which did not allow for the
vehicle to be used safely and You were aware of this or it was known beforehand;
the vehicle was overloaded at the time of the traffic accident and this is in cause-and-effect relationship
with occurrence of the losses;
items in the vehicle or its trailer were held or fastened in violation of applicable requirements and this is
in cause-and-effect relationship with occurrence of the losses;
the vehicle was rebuilt in violation of applicable requirements and this is in cause-and-effect relationship
with occurrence of the losses;
repair of the insured item after the Insured Event has been started or carried out without Our consent;
You have knowingly furnished false information or withheld important information concerning the
material circumstances of the insurance contract or concerning occurrence and amount of losses.
24-hour emergency assistance
If it is not possible or it is prohibited to participate in road traffic with a vehicle with the gross weight
of up to 3.5t, We will provide the following emergency assistance services:
◊ starting up the vehicle;
◊ restoring pressure in tyres in case of no or insufficient pressure, or fitting of a new tyre if the tyre is
damaged and assistance is necessary to replace it or if there is no spare wheel. We will not indemnify for
the cost of a tyre or spare wheel if the tyre or the wheel is not damaged as a result of an insured event;
◊ bringing fuel to You to drive to the nearest petrol station;
◊ deactivating the alarm, if necessary;
◊ hauling the vehicle from ditch or hauling the vehicle to the road if it is stuck;
◊ other services as may be necessary to continue participating in road traffic.
In case of a traffic accident or if 24-hour emergency assistance cannot be provided on site, then the vehicle
will be transported to the nearest repair shop, a repair shop designated by Us, or a guarded car park.
If an Insured Event results in damages, due to which it is not possible or it is prohibited to participate in
road traffic, to a vehicle with the gross weight above 3.5t, We will provide the following services:
◊ hauling the vehicle from ditch, hauling the vehicle to the road if it is stuck, and similar services;
◊ transporting the vehicle to the nearest repair shop, a repair shop designated by Us, or a guarded car park,
including the cost of parking.
The 24-hour emergency assistance limit per one Insured Event for vehicles with the gross weight above
3.5t is stated in the insurance policy.
Call Us on 67 444 449 to request the 24-hour emergency assistance service.
If it is impossible for Us to arrange for 24-hour emergency assistance (especially in Russia, Ukraine, Belarus,
Turkey), We will indemnify for reasonable, justified emergency expenses based on documentary proof of
such expenses.
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4.2. Extra CASCO Insurance
If You opt for Extra CASCO Insurance, then in addition to that stated under Standard CASCO Insurance also
the following is covered:
Trip interruption
If You are unable to continue Your trip due to an Insured Event, technical damage to the vehicle, loss or theft
of keys, then the driver and passengers of the vehicle will be reimbursed by Us for the following expenses:
◊ reasonable expenses of accommodation if more than 100 km away from home or place of
accommodation if immediate returning home is not possible;
◊ reasonable expenses of returning home or arriving to Your destination by other means of transportation.
The maximum amount reimbursed by Us per one instance of trip interruption is stated in the policy.
Loss of or damage to keys
We will indemnify You for the cost of recoding Your anti-theft device or ordering an additional key or
replacement thereof if the vehicle keys or alarm remote control are lost or stolen or damaged.
Damage to or theft of personal belongings
We will indemnify for the expenses incurred in reacquiring or repairing personal belongings if items left in
the vehicle are damaged as a result of an Insured Event or if items kept in a locked vehicle out of the sight of
unauthorized persons are stolen.
We will also indemnify for losses incurred due to theft of a bicycle, skis or snowboard in a locked car roof
box, on roof rack or on bicycle rack attached to the vehicle.
The indemnity will be paid if the theft is registered with the police.
The maximum amount to be reimbursed by Us per one event of damage to or theft of personal belongings
is stated in the insurance policy.
Cost of transportation to and from the repair shop
We will indemnify (on the basis of documentary proof of expenses) the cost of Your going to and returning
from a repair shop, as well as the cost of getting the vehicle (that can participate in traffic) to/from repair
shop if You yourself are unable to do it.
The maximum amount reimbursed by Us per one Insured Event with the vehicle is stated in the insurance
policy.
Accident insurance
If You or passengers in the vehicle are injured in an Insured Event which causes You or passengers to suffer
a temporary or permanent incapacity for work or death, We will pay out the accident Insurance Indemnity.
In case of temporary incapacity for work We will pay daily allowance, whereas in case of permanent
incapacity for work and death We will pay a lump-sum indemnity.
The accident insurance Sum Insured and the daily allowance per one Insured Event and per one injured
person is specified in the policy.
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Daily allowance
Temporary incapacity for work is a condition confirmed by a doctor by issuing a certificate of incapacity for
work or another written certificate and, as a result of that condition, You or Your passenger temporarily
cannot perform the regular job duties.
The daily allowance is calculated per each day of temporary incapacity for work if the temporary incapacity
for work due to the Insured Event with the Vehicle persists for over 14 days. Payment of the indemnity will
stop for persons whose capacity for work is restored. We will pay the daily allowance once a month but in
any event not more than a total of 180 days per each person.
If You or Your passenger are not employed (e.g. child or pensioner), We will calculate the daily allowance
for the number of days equivalent to the time period for which an employed person would have temporary
capacity for work in case of such an injury.
Lump-sum indemnity
We will pay the Insurance Indemnity for permanent incapacity for work if the Insured Event results in the
loss of a body part or an organ or a functional impairment of the aforesaid within one year of the insured
event, thereby bringing about permanent incapacity for work.
The amount of the Insurance Indemnity for permanent incapacity of work depends on the severity of the
permanent incapacity for work caused by the loss of body part or organ and the Sum Insured of accident
insurance, and it is calculated as follows:
Severity of permanent incapacity for work
Amount of indemnity
Complete loss of capacity for work (> 50%)
100% of the accident insurance
Sum Insured
Partial loss of capacity for work (< 50%)
50% of the accident insurance
Sum Insured
If You or Your passenger are not employed (for example, children or a person entitled to a retirement
pension), We will be guided by the degree of the loss of capacity for work that an employed person would
have normally suffered in the event of such an injury.
If death occurs as a result of the Insured Event within one year of the Insured Event, We will pay the
accident insurance Sum Insured as a lump sum to the lawful heirs, less any daily allowance and/or Insurance
Indemnity for permanent incapacity for work already paid out.
Daily allowance paid out for one and the same Insured Event will be deducted from the lump-sum indemnity
for permanent incapacity for work or death.
4.3. Replacement vehicle
In addition to Standard CASCO Insurance and Extra CASCO Insurance, You can also buy a replacement
vehicle cover. Your choice is specified in the policy.
We will indemnify You for the expenses incurred by renting a replacement vehicle or for other transport
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expenses approved by Us which You have incurred during the time when using Your vehicle was impossible
due to an Insured Event.
The replacement vehicle cover also applies to cases where a third party is responsible for causing the
traffic accident and the damage caused to Your vehicle is reimbursed under the motor third party liability
insurance of that third party.
We will provide, or will pay the cost of renting, a replacement vehicle or other transport expenses for up to
30 calendar days per one Insured Event. We will stop paying the aforesaid rental expenses after indemnity
for Total Loss is paid out.
The maximum Insurance Indemnity that We pay per day is stated in the insurance policy.
If We refuse Insurance Indemnity for damage to the vehicle, We will also not indemnify for replacement
vehicle rental expenses.
The replacement vehicle cover does not apply to:
◊ fuel consumed by the replacement vehicle and other operating costs of the replacement vehicle (parking,
screen wash, etc.);
◊ damage caused by and/or to the replacement vehicle;
◊ expenses for the time period when the vehicle could not be repaired through Your fault or for the time
period after the vehicle has been repaired;
◊ Expenses for a repair period that has been extended at Your request if the damages caused as the result
of the Insured Event have already been eliminated.
5. What to do in case of an accident
If a potential Insured Event has occurred, call 112 and notify the relevant state institution if:
◊ people are injured in a traffic accident;
◊ if more than two vehicles are involved in the accident or the persons involved in the accident are unable
to agree on the circumstances of the accident;
◊ third-party property has been damaged in the accident;
◊ vehicles involved in the accident have suffered damage due to which they are unable or they are
prohibited from participating in road traffic pursuant to traffic regulations;
◊ there is risk of fire, explosion or environmental pollution;
◊ the insured item is stolen or hijacked.
You must notify Us of occurrence of the potential Insured Event without any delay, as soon as possible
by phone on 67 444 449 (24-hours).
We will advise You on how to proceed, and we will agree on how to file the insurance claim and what will be
next steps.
The insurance claim can be filed with Us via the Internet Banking facility operated by Swedbank AS.
In case of a potential Insured Event, You must do everything within Your power to limit the loss, prevent
emergence of any further loss and establish the circumstances of and reasons behind the potential Insured
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Event, the extent of loss, the person who caused the losses and the witnesses of the event.
Until such time as the amount of losses and the circumstances of the Insured Event have been established,
You may not make any alterations to the damaged item that may influence the establishing of the reasons
behind and the extent of losses without Our permission. Alternations may only be made in order to prevent
emergence of further losses or an increase in the losses or if the alternations are in the public interest.
Before making any alterations, You need to obtain Our permission.
Documents required for claiming insurance indemnity
You must file the Insurance Indemnity claim and an explanation about the potential Insured Event. We may
also require You to provide other documents that would allow identifying the circumstances of the Insured
Event, the damages and the amount of losses.
We may require the following documents to be provided:
◊ a completed agreed statement of facts (European Accident Statement) in case of a traffic accident with
two vehicles;
◊ a police statement in the case of vandalism, theft or robbery or other cases when reporting to the police
is mandatory;
◊ documentary proof of expenses incurred due to the potential Insured Event;
◊ if necessary, other documents in order to identify the circumstances and extent of the potential Insured
Event.
You must provide Us with true and complete information about the circumstances of the potential Insured
Event, extent of losses and the persons potentially responsible for causing the loss. If necessary, You must
allow Us to immediately inspect the damaged vehicle and upon Our invitation participate in the inspection
of the damaged vehicle.
6. Principles of indemnification
Principles of indemnification
To cover the losses incurred as a result of an Insured Event, We will pay the cost of repairing Your vehicle or
accessories or will pay You the Insurance Indemnity in cash.
In case of Total Loss, We will pay the Insurance Indemnity equivalent to the vehicle value in cash or replace
Your vehicle with an equivalent one which in terms of functionality and uses would be as similar as possible
to the lost vehicle and would be in the same price range.
In case of theft of or damage to the accessories or personal belongings, We will indemnify for the cost of
their repair or the cost of reacquisition of the same or similar item in the same price range.
We have the right to choose the manner of indemnification.
We will not indemnify for any decrease in the market value of the vehicle, loss of income, financial liabilities,
moral damage or other expenses that we have not agreed on.
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Vehicle repair
We will indemnify for the cost of repairing Your vehicle and its accessories if it is economically and
technically justified. The age and the overall condition of Your vehicle will be taken into account in
indemnification for losses.
In repairing vehicles that are up to five years year, only new genuine parts are used, except in cases when
the parts to be replaced are substandard or non-genuine. When changing glass for vehicles older than three
years, We may replace it with generic glass of quality no different from the original glass.
For vehicles older than five years, We use second-hand or non-genuine parts, provided that their condition
is no worse than that of the corresponding damaged or destroyed part of the vehicle before the Insured
Event.
We will not indemnify for the cost of parts of the vehicle that were substantially damaged already before
the insured event or which, according to traffic safety requirements, should have had been replaced at
the time of the event. Depending on earlier damages, We may deduct from the Insurance Indemnity the
expenses necessary for eliminating the earlier damages or reduce the Insurance Indemnity payable for
replacement of the damaged part in proportion to the damages.
Examples:
◊ If a part that already had rust damage is damaged in an accident , then in reimbursement for losses We
may reduce the payable indemnity by the expenses of eliminating rust.
◊ If the wheel rims of the vehicle have damages due to normal wear and tear and the damages caused by
the Insured Event are smaller than or equal to the earlier damages, then replacement or repair of the
wheel rims will not be subject to indemnification.
We have the right to determine the repair shop where the vehicle is to be repaired. The Insurance Indemnity
will be limited to the cost estimate made by the repair shop chosen by Us in case You wish the vehicle to be
repaired in a repair shop chosen by You.
If it is not possible to continue driving the vehicle after an Insured Event that has occurred outside Latvia
and We do not allow the vehicle to be repaired in the country where it is located, We will transport the
vehicle back to Latvia or indemnify for reasonable and justified transportation expenses.
Monetary indemnity
In case of Total Loss of the vehicle, if We decide to not replace the vehicle, We will pay out the vehicle value.
In that case, We have the right to keep the remains of the vehicle. If You decide to keep the vehicle remains
for yourself, We will reduce the Insurance Indemnity by the market value of the remains.
An Insured Event constitutes a Total Loss event if the cost of repairs exceeds 70% of the vehicle value. We
have the right to treat an event as a Total Loss event if repairing the vehicle would cost more than 50% of
the vehicle value.
After theft or robbery of the insured item, You have a duty to hand over to Us the registration documents
of the insured item, all keys and alarm remote controls of the insured item as specified by the manufacturer
or the installer if any such alarms or anti-theft devices have been installed, including any duplicates thereof.
An acceptance and transfer certificate is made in evidence of such handing over. After payment of the
Insurance Indemnity, ownership of the insured item will pass to Us.
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If You have not paid the entire insurance premium payable to Us for the insurance period, We will deduct the
unpaid insurance premiums from the Insurance Indemnity when We indemnify for Total Loss.
Excess
You must cover the Excess specified in the policy for each Insured Event. Unless agreed otherwise, the
Excess is deducted from the amount to be indemnified.
If a traffic accident has occurred and the vehicle is repaired outside Latvia, then You must pay double the
Excess specified in the policy.
No Excess will be payable if the Insured Event due to a traffic accident is caused by a third party and that
person’s liability for the damage to the insured item has been proved according to the decisions of the
insurer or law enforcement institutions.
If the insured item is used as a taxi, a short-term rental vehicle (the term of the rental agreement is less
than 6 (six) months), a public transport vehicle, an emergency vehicle, a vehicle of a security company or as
a vehicle for driving practice, and this is not stated on the policy, then the Excess specified in the policy will
be applicable at triple rate in the event of damage.
One largest Excess stipulated in the insurance policy will be applicable to the Insured Event irrespective of
the number of risks having occurred in the Insured Event.
Indemnification procedure
We will do everything We can to make the indemnification process quick. We will advise You of Our decision
to pay out or deny Insurance Indemnity within 10 days of ascertaining the circumstances and extent of the
loss and receipt of all the necessary documents about the Insured Event. In case of theft and robbery, We
will advise You of Our decision not later than within 2 months from when the Insured Event was reported.
However: if the amount of loss or Our indemnification obligation has not been fully established, We will
indemnify for the part of loss the occurrence and amount of which have been proven.
If a dispute arises in connection with Our indemnification obligation or the extent thereof, We may agree to
engage an expert for conducting an expert assessment. The costs of expert assessment will be covered by
the party that proposed to engage an expert, unless We agree otherwise.
Please inform Us immediately if a vehicle which has fallen into unauthorised use or was stolen is found.
If We have paid out Insurance Indemnity to You for a vehicle or a part thereof which was fallen into
unauthorised use or stolen and the vehicle or the part thereof is found, You must immediately deliver the
vehicle or the part to Us or pay Us back the Insurance Indemnity paid out.
If, at the time of the Insured Event, any other insurance contract was in force under which You are entitled
to Insurance Indemnity, then only the sum not covered by other insurance contracts will be indemnified.
After payout of Insurance Indemnity We obtain the right of subrogation i.e. the right to claim damage at the
extent of the paid Insurance Indemnity from the person responsible for causing the damage.
Unless You, in the Insurance Indemnity claim application and before payout of the Insurance Indemnity,
have advised Us of other procedure, then also if the Insurance Indemnity paid out by Us covers only a part
of Your expenses, We may exercise Our right of subrogation irrespective of whether or not You exercise
the right to take action against the person who caused the losses. We may agree in writing on cooperation
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in recovery of losses from the person liable for the losses including on jointly bringing or maintaining action
in court.
We have the right to terminate the insurance contract before its expiration if We establish that untrue
information has been supplied, in bad faith or through gross negligence, about the Insured Event and about
the circumstances thereof.
7. Notices
All information that You have a duty to notify to Us under the insurance contract or law, as well as all
notices related to the insurance contract must be given to Our e-mail address or postal address that We
have notified to You or via the Internet Banking facility operated by Swedbank AS.
The insurance policy, other documents related to the insurance contract and all notices that We have a
duty to give to You under the insurance contract or law will be sent either via the Internet Banking facility
operated by Swedbank AS or to Your e-mail address or postal address of which You have notified Us. If You
have notified Us of Your mobile phone number, We have the right to give notices to You to Your phone.
The insurance policy, other documents related to the insurance contract and notices that have been sent as
described above will be considered to have been delivered.
Notices of general nature will be published on the website of Swedbank AS or in mass media.
We have the right to record notifications received by any means of communication and use those
recordings as and when necessary to prove the expression of will made by You or other person related to
the insurance contract.
8. Personal data processing
We will process the policyholder’s and Your personal data (incl. sensitive personal data) as may be necessary
for entry into the insurance contract, for assessment of insurance risks, for performance of obligations
under the insurance contract, and for the offering, maintenance and development of insurance services. We
are entitled to make Your or policyholder’s data supplied by You to Us and the insurance contract related
information available to Our personal data operators and third parties if required so for performance of
obligations under the insurance contract. We are entitled to receive any information and documents as
may be necessary for performance of obligations under the insurance contract, including personal data and
sensitive personal data, from:
◊ other insurers and financial institutions (including Swedbank and Swedbank Group companies);
◊ other legal entities and private individuals and state institutions.
We are the controller of personal data processing.
We have the right to offer You services via mail, telephone, facsimile, e-mail, and other means of
communication. You have the right to opt out receiving commercial information by notifying Us thereof.
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9. If You’re not satisfied
If You are not satisfied with the services provided by Us, We kindly ask You to let Us know about it. We
hope We will be able to find a solution that satisfies both parties. If You disagree with any of Our decisions
or need an additional explanation, You have the right to request that the decision be reconsidered. Explain
Your position about the decision in Your written application, and We will respond within 10 days of
receiving the application.
If resolution of the dispute through negotiation fails, You have the right to seek protection of Your
interests at the Latvian Insurers Association’s Ombudsman (www.laa.lv), the Consumer Rights Protection
Centre (www.ptac.gov.lv), Finance and Capital Market Commission (www.fktk.lv) or court of law according
to applicable legislation in force in the Republic of Latvia.
The insurer is Swedbank P&C Insurance AS, a company duly registered with the Commercial Register of the
Republic of Estonia under registration No. 11269248 and having its registered office at Liivalaia 12, Tallinn,
15039, Estonia, as represented in the Republic of Latvia by Swedbank P&C Insurance AS Latvian branch, a
company duly registered with the Commercial Register of the Republic of Latvia under unified registration
No. 40103212048.
The Insurer is subject to oversight in the Republic of Latvia by the Financial and Capital Market Commission
having its seat at Kungu iela 1, Riga, LV-1050, tel. 67 774 800, e-mail: [email protected].
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