Insurer is Compensa Vienna Insurance Group, ADB Estonian branch (hereinafter Seesam).
Policyholder is a person who has entered into an insurance contract with Seesam and who has the obligation to pay insurance premiums. The policyholder has the right to receive the insurance indemnity if no beneficiary has been specified in the insurance contract.
Insurance contract is an agreement entered into in writing or in a format that can be reproduced in writing by and between Seesam and the policyholder (hereinafter jointly the parties), under which Seesam is required, upon occurrence of an insured event, to indemnify the loss arising as a result of such insured event or to perform the insurance contract in any other manner agreed (the Seesam’s performance obligation) and the policyholder is required to pay insurance premiums to Seesam.
Policy is a document issued by Seesam evidencing the entry into the insurance contract. A policy may also be titled otherwise.
Insured person is either the policyholder or any specified or unspecified third party, with respect to whom the insured risk has been insured. It is presumed that the insured risk related to the policyholder is insured.
Insured object is an object with respect to which the insured risk has been insured. An insured object is primarily the life and health of a person or an object, right, obligation or cost belonging to the insured person.
Beneficiary is a person specified in the policy who, upon occurrence of an insured event, is entitled to the insurance indemnity, agreed amount of money or performance of any other obligation by Seesam according to the insurance contract. After the death of the policyholder their successors may not take the place of the beneficiary.
Third party is any person who is not a party to the insurance contract or an insured person.
Person equivalent to the policyholder is a person specified in section 11 of these terms and conditions, to whom the policyholder is required to introduce their obligations arising from the insurance contract and who is required to perform the obligations similarly to the policyholder. A person equivalent to the policyholder is not deemed to be a party to the insurance contract.
Person entitled to receive the insurance indemnity is a person who has the right to receive an insurance indemnity upon the occurrence of an insured event. If the payment of an insurance indemnity to the beneficiary has been agreed under the insurance contract, the beneficiary is the person entitled to receive the insurance indemnity. If the beneficiary has not been agreed under the insurance contract, the policyholder is the person entitled to receive the insurance indemnity. If the beneficiary does not want to receive the insurance indemnity, the policyholder is the person entitled to receive the insurance indemnity.
Insurable interest is the interest of the policyholder to insure themselves against specific insured risks.
Insured risk is the risk against which the insurance policy is taken.
Insured event is an event defined in the insurance contract, upon occurrence whereof Seesam has to perform its performance obligation arising from the insurance contract.
Sum insured is an amount of money agreed upon between the parties, which is the maximum amount payable by Seesam.
Insurable value is the value of the insurable interest at the time of the value of the insurable interest at the time of occurrence of an insured event.
Insurance period is a period of time specified in the policy, during which the insurance cover applies and on the basis of which the insurance premiums are calculated.
Insurance cover is Seesam’s obligation limited by the insurance contract to pay insurance indemnity upon an insured event or perform the contract in any other manner specified in the insurance contract.
Insurance terms and conditions are the General Terms and Conditions, terms and conditions of insurance class, indemnity regulations and special terms and conditions.
General Terms and Conditions are these Seesam General Terms and Conditions.
Terms and conditions of insurance class are the terms and conditions providing for the principles of insuring and indemnifying loss applicable to the class of the object to be insured.
Indemnity regulations are the terms and conditions providing for the principles of indemnifying loss upon an insured event and for the application of which a notation has been made in the policy.
Special terms and conditions are standard terms and conditions set out in the policy for a specific insurance contract, which differ from the insurance terms and conditions and which apply to a specific insurance contract.
Special agreement is a condition separately agreed between the parties and specified in the policy, which differs from the provisions of the insurance terms and conditions or which is not set out in the insurance terms and conditions. In the event of differences between the special agreement and insurance terms and conditions, the special agreement shall apply.
Safety requirements are requirements provided for in the insurance contract or established by the manufacturer of the property or by legislation for the purpose of prevention of occurrence of loss, reduction of insured risk and ensuring the safety of the property or the person.
Deductible is an amount of money or another value indicated in the insurance contract (percentage of loss, period, etc.), which is to be borne by the policyholder in the case of any insured event.
Insurance indemnity is financial compensation paid under the insurance contract in order to indemnify the loss caused as a consequence of an insured event and costs for legal assistance and expert assessment.
Coverage territory is the territory agreed in the insurance contract, where the insurance cover is effective.