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FUTURE GENERALI
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General Conditions Applicable

  • Due Observance
    The due observance of and compliance with the terms, provisions, warranties and conditions of this Policy in so far as they relate to anything to be done or complied with by You and/or Your Family shall be a condition precedent to any liability of Us under this Policy.
  • Reasonable Care
    You shall:
    • Take all reasonable steps to safeguard the Contents and the Insured Premises against any insured event.
    • Take all reasonable steps to prevent a claim from arising under this Policy.
    • ensure that any security system or aid is maintained in accordance with any maintenance schedule or recommendations of the manufacturer or if none then as may be required, and kept in good and effective working condition.
    • When the Insured Premises are left unattended ensure that all means of entry to or exit from the Insured Premises have been properly and safely secured and any security system or aid has been properly deployed.
  • Duties and Obligations after Occurrence of an Insured Event
    It is a condition precedent to Our liability under this Policy that, upon the happening of any event giving rise to or likely to give rise to a claim under this Policy:
    • You shall immediately and in any event within 7 days give written notice of the same to the address shown in the Schedule for this purpose, and in case of notification of an event likely to give rise to a claim to specify the grounds for such belief, and
    • In respect any claim under the Cover, immediately lodge a complaint with the police detailing the items lost and/or damaged and in respect of which You intend to claim, and provide a copy of that written complaint, the First Information Report and/or Final Report to Us, and
    • You shall within 30 days deliver to Us its completed claim form detailing the loss or damage that has occurred and an estimate of the quantum of any claim along with all documentation required to support and substantiate the amount sought from Us, and
    • You shall expeditiously provide Us and its representatives and appointees with all the information, assistance, records and documentation that they might reasonably require, and
    • You shall not admit liability or settle or make or promise any payment in respect of any claim which may be the subject of indemnity hereunder, or incur any costs or expenses in connection therewith, without the written consent of Us which shall be entitled to take over and conduct in the name of You the defence and/or settlement of any such claim, for which purpose You shall give all the information and assistance that We may reasonably require.

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  • Contribution
    If, at the time of any Claim, there is, or but for the existence of this Policy, would be any other policy of indemnity or insurance in favour of or effected by or on behalf of Us applicable to such claim, the then We shall not be liable to pay or contribute more than its rateable proportion of any loss or damage.
  • Subrogation
    You and any claimant under this Policy shall at the expense of Us do or concur in doing or permit to be done all such acts and things that may be necessary or reasonably required by Us for the purpose of enforcing any civil or criminal rights and remedies or obtaining relief or indemnity from other parties to which We shall be or would become entitled or subrogated upon Us paying for or making good any loss or damage under this Policy whether such acts and things shall be or become necessary or required before or after Your indemnification by Us.
  • Fraud
    If You or any claimant under this Policy shall make or advance any claim knowing the same to be false or fraudulent as regards amount or otherwise, this Policy shall be void and all claims or payments hereunder shall be forfeited.
  • Cancellation
    • This Policy may be cancelled by or on behalf of Us by giving You at least 14 days written notice and in such event We shall refund to You a pro-rata premium for the unexpired Policy Period.  For the avoidance of doubt, We shall remain liable for any claim that was made prior to the date upon which this insurance is cancelled.
    • This Policy may be cancelled by You at any time by giving at least 14 days written notice to Us.  We will refund premium on a pro-rata basis by reference to the time cover is provided, subject to a minimum retention of premium of 25%.  No refund of premium shall be due on cancellation if the Insured has made a claim under this Policy.

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  • Dispute Resolution
    • Any and all disputes or differences, which may arise under or in relation to this Policy, including its interpretation or the quantum of any Claim shall be referred to arbitration and to a sole arbitrator to be appointed in accordance with Arbitration and Conciliation Act, 1996, within a period of 30 days of either We or You giving notice in this regard.
    • The applicable law in and of the arbitration shall be Indian law.
    • The expenses of the arbitrator shall be shared between the parties equally and such expenses along with all reasonable costs in the conduct of the arbitration shall be awarded by the arbitrator to the successful party, or where no party can be said to have been wholly successful, to such party, as substantially succeeded.
    • It is agreed condition precedent to any right of action or suit upon this Policy that an award by such arbitrator or arbitrators shall be first obtained.
    • In the event that these arbitration provisions shall be held to be invalid then all such disputes shall be referred to the exclusive jurisdiction of the Indian Courts.
  • Notices
    • Any and all notices and declarations for the attention of Us shall be submitted in writing and shall be delivered to the address specified in the Schedule.
    • Any and all notices and declarations for the attention of You shall be posted to Your address stated in the Schedule.

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  • Governing Law
    The construction, interpretation and meaning of the provisions of this Policy shall be determined in accordance with Indian law. The section headings of this Policy are included for descriptive purposes only and do not form part of this Policy for the purpose of its construction or interpretation.
  • Entire Contract

    The Policy constitutes the complete contract of insurance. No change or alteration in this Policy shall be valid or effective unless approved in writing by Us, which approval shall be evidenced by an endorsement on the Policy.

  • Territorial Limits
    This Policy covers insured events arising during the Policy Period within India.  Our liability to make any payment shall be to make payment within India and in Indian Rupees only.
  • Reinstatement after settlement of a claim
    All sums which may from time to time be paid by way of indemnity under this Policy in any one Period of Insurance shall be accounted in diminution of the Total Sum Insured so that in case of any subsequent event giving rise to a claim occurring during the same period the total amount payable during that period by the Company shall not in any case exceed the Total Sum Insured. In the event of the property lost, destroyed or damaged being replaced by other property, the Company will at the Insured’s request extend this insurance by endorsement to include such property upon payment of the appropriate pro-rata additional premium.
  • Renewal Clause

    This Policy may be renewed by mutual consent every year and in such event, the renewal premium shall be paid to US on or before the date of expiry of the Policy or of the subsequent renewal thereof.  However WE shall not be bound to give notice that such renewal premium is due.

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