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    Air Meet Liability Pds

    Uploaded by

    Noraini Mohd Shariff
    This document summarizes an Air Meet Liability Insurance policy. The policy protects against bodily injury or property damage arising from an air meet event organized by the policyholder. Key benefits include damages paid for injuries or property damage due to accidents at an air meet. Premiums are calculated based on coverage limits and other risk factors. The policy excludes coverage for injuries to employees, liability assumed by contract, and damages from participating aircraft or devices.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Air Meet Liability Pds

    Uploaded by

    Noraini Mohd Shariff
    232 views3 pages
    This document summarizes an Air Meet Liability Insurance policy. The policy protects against bodily injury or property damage arising from an air meet event organized by the policyholder. Key benefits include damages paid for injuries or property damage due to accidents at an air meet. Premiums are calculated based on coverage limits and other risk factors. The policy excludes coverage for injuries to employees, liability assumed by contract, and damages from participating aircraft or devices.

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    This document summarizes an Air Meet Liability Insurance policy. The policy protects against bodily injury or property damage arising from an air meet event organized by the policyholder. Key benefits include damages paid for injuries or property damage due to accidents at an air meet. Premiums are calculated based on coverage limits and other risk factors. The policy excludes coverage for injuries to employees, liability assumed by contract, and damages from participating aircraft or devices.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    232 views3 pages

    Air Meet Liability Pds

    Uploaded by

    Noraini Mohd Shariff
    This document summarizes an Air Meet Liability Insurance policy. The policy protects against bodily injury or property damage arising from an air meet event organized by the policyholder. Key benefits include damages paid for injuries or property damage due to accidents at an air meet. Premiums are calculated based on coverage limits and other risk factors. The policy excludes coverage for injuries to employees, liability assumed by contract, and damages from participating aircraft or devices.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    AIR MEET LIABILITY INSURANCE

    PRODUCT DISCLOSURE SHEET

    AUGUST 2015

    IMPORTANT NOTE
    Read this Product Disclosure Sheet before you decide to take out the Air Meet Liability Insurance Policy. Be sure to
    also read the policy wording for full terms and conditions.

    1) What is this product about?


    This policy protects against bodily injury or property damage arising out of an air meet event sponsored or
    organised by you.

    2) What are the cover / benefits provided?


    This policy will pay for damages for bodily injury or property damage due to an accident arising out of an air meet
    event sponsored or organised by you.

    3) What is the premium I have to pay?


    The premium is noted on the quotation documents. It is calculated according to various factors, of which the main
    factors are:
    Limits of Indemnity (including sub-limits);
    Values Insured/Exposed (including aggregate limitations);
    Level of Deductible;
    Level of Acquisition costs/Tax;
    Loss/Incidents;
    Other risks factors may also be taken into consideration:
    Turnover;
    Passenger loading / through put / profile;
    Operational Changes;
    Management including other general factors that may affect the risk profile

    4) What are the fees and charges I have to pay?


    Type
    GST (when applicable)
    Stamp Duty
    Commission paid to the insurance agent (when applicable)

    Amount
    6% of Gross Premium
    RM 10.00
    Up to maximum 25%

    5) What are some of the key terms and conditions that I should be aware of?
    -

    Importance of Disclosure: You should disclose to the best of your knowledge all material facts and confirm all
    the declarations are true and correct; otherwise your policy may be invalidated
    Variation in risk: You must notify us of any material change in the circumstances or nature of the risks; if not
    any claim arising under such change will not be recoverable.
    No Admission of Liability: You should not admit liability, offer, promise or pay to claimant without our written
    consent
    Premium Warranty: The premium due must be paid and received by the insurer within 60 days from the
    inception date of the policy / endorsement / renewal certificate
    If you fail to pay the premium within the period, your policy will be automatically cancelled and AIG is
    entitled to the pro rata premium on the period you have been on risk.

    AIG Malaysia Insurance Berhad (795492-W), Level 16, Menara Worldwide, 198, Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.
    www.aig.my
    Page 1 of 3

    6) What are the major exclusions under this policy?


    (This list is non-exhaustive; please refer to the policy wording for full terms and conditions.)
    Bodily Injury to any person who at the time of sustaining such Bodily Injury is engaged in the service of you or
    liability for which you or your insurer may be held liable under any employers liability, workers
    compensation, unemployment compensation or disability benefits or any similar law.
    Liability assumed by you by agreement under any contract unless such liability would have attached to you
    even in the absence of such agreement.
    Property Damage to property owned, rented, leased or occupied by or in the care, custody or control of you
    but this exclusion shall not apply to Property Damage to vehicles not owned, rented or leased by you whilst in
    the your care, custody or control.
    Bodily Injury or Property Damage caused by the use of any vehicle on the road in such a manner as to require
    insurance or security under any domestic or international law governing road traffic or, in the absence of any
    applicable law, to liability arising from the use of any vehicle on the public highway.
    This exclusion shall not apply to liability arising from Occurrences within the confines of any airport if there is
    no such applicable law to the liability of you to pay any amount which is in excess of
    any prescribed limit that is required to be insured where insurance may be effected to comply with the
    law whether you effect an insurance policy in respect of such liability or not
    the limit of liability of the insurance policy effected by you in respect of such liability
    whichever is greater.
    Bodily Injury or Property Damage caused by any participant in the Air Meet or by any participating aircraft,
    vehicle or device.
    Bodily Injury or Property Damage arising out of any goods or products manufactured, constructed, altered,
    repaired, serviced, treated, sold, supplied or distributed by you, after such goods or products have ceased to
    be in the possession or under the control of you but this exclusion shall not apply to liability arising out of the
    supply, by you, of food or drink at the location specified in the Policy Schedule.
    Bodily Injury or Property Damage caused by any aircraft owned, chartered, used or operated by or on
    account of you.
    Bodily Injury or Property Damage arising out of the use of pyrotechnics.

    7) Can I cancel my policy?


    You may cancel your policy by giving us 10 days written notice. Refund of premium shall be at our discretion. No
    refund of premium is allowed if there is a claim under the policy. If we cancel the policy, we will refund a pro rata
    portion of the premium in respect of the unexpired period of the policy.

    8) What do I need to do if there are changes to my contact details?


    It is important that you inform us of any change in your contact details to ensure that all correspondences reach
    you in a timely manner.

    9) Where can I get further information?


    Should you require additional information about this insurance, please contact us at:
    AIG Malaysia Insurance Berhad (795492-W)
    Level 16, Menara Worldwide,
    198, Jalan Bukit Bintang,
    55100 Kuala Lumpur,
    Malaysia
    Tel:
    1800 88 8811
    Fax:
    +60 3 2118 0388
    Email: [email protected]
    Web: www.aig.my

    AIG Malaysia Insurance Berhad (795492-W), Level 16, Menara Worldwide, 198, Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.
    www.aig.my
    Page 2 of 3

    10) Other types of similar insurance cover available?


    None
    IMPORTANT NOTE
    YOU SHOULD SATISFY YOURSELF THAT THE POLICY WILL BEST SERVE YOUR NEEDS. YOU SHOULD READ AND
    UNDERSTAND THE INSURANCE POLICY AND DISCUSS WITH THE AGENT OR CONTACT THE INSURANCE COMPANY
    DIRECTLY FOR MORE INFORMATION.
    The information provided in this disclosure sheet is valid as of the date shown.

    AIG Malaysia Insurance Berhad (795492-W), Level 16, Menara Worldwide, 198, Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.
    www.aig.my
    Page 3 of 3

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