Liability Insurance for Hazardous Industrial Facilities

• The insured’s own property and property in their possession, control, lease, leasing or care.
• Moral damages, lost income, reduction in property value after repair, sanctions, cash, securities, precious metals/stones, works of art or intellectual property.
• Damage occurring outside the insured territory/period or without a direct connection to the insured failure.
• Damage caused intentionally, through gross negligence, breaches of industrial safety rules, force majeure, war, terrorism, radiation or the exclusive fault of the injured third party.

• Cover applies only to the facility/installation stated in the contract and to the activity carried out lawfully in accordance with Law no. 151/2022 and industrial safety rules.
• The insured event must be confirmed by acts of the competent authorities, establishing the insured’s fault and the causal link between the failure and the damage.
• Compensation is granted within the limits stated in the policy; the contractual deductible applies.

Cover applies to events occurring on the insured territory and under the contractual conditions.

• In the event of a failure, take loss mitigation measures, notify the competent authorities and the insurer within the contractual deadline, preserve evidence and do not admit liability or make payments without the insurer’s consent.

• The premium, currency and payment term are stated in the contract/policy.
• Non-payment of the premium or an instalment may lead to suspension of cover and/or termination of the contract after the notice provided by the contract.

• The contract is generally concluded for 12 months. Cover starts no earlier than 24:00 on the day the premium is received by the insurer, according to the policy.
• Cover ends on the date stated in the policy or earlier if the total limit is exhausted, the insured activity ceases, the contract is terminated or becomes void.

The contract may be terminated by written declaration/notice, subject to the 30-day term and the conditions provided by the contract and legislation. In case of non-payment, termination may occur after payment notice and expiry of the grace period. Refund of the premium for the unused period is made according to the reason for termination and the contractual provisions.