CONSUMER INSURANCE Sample Clauses

CONSUMER INSURANCE. You acknowledge and agree that you are required to take out consumer insurance over the financed electronic or consumer item. The Consumer Insurance policy is mandatory for all financed electronic devices and may apply to other consumer items at the discretion of the Lender. The premium rate shall be 5% of value of financed item to cover fire, special perils, burglary, terrorism and 10% of value of asset to cover fire, special perils, burglary, terrorism, damage subject to a minimum premium Kshs. 1500. The term of the Insurance cover shall be for the duration of the loan. In the event of loss or damage of the financed item, you will be required to have completed paying at least 50% of the loan amount for the financed item/electronic to be replaced or repaired. The Risks covered under the Consumer Insurance are: -
Sample 1
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CONSUMER INSURANCE. The Swedish Insurance Contracts Act (2005:104) contains rules on, inter alia, liability insurance for consumers, i.e. against economic loss resulting from property damage, indemnification liability, or other pure economic loss. These rules do not cover personal insurance, such as life, medical and casualty insurance. According to chapter 2 section 2 of the Act a period of contract longer than one year is not allowed, except where there are exceptional circumstances. The reason for this rule is that the consumer should then have the option to consider whether he or she would prefer to change or discontinue the insurance. The insurance companies do not mind this short duration of insurance, since they are given an opportunity to alter their premiums or other conditions (see below). Upon the expiry of an insurance contract, it is renewed automatically unless notice is given (chapter 3 section 4). The possibility for the insurance company to give notice of termination is restricted, and it is only allowed under exceptional circumstances (chapter 3 section 3). For instance, an unusually large amount of damages or a refusal to follow safety requirements can be regarded as an exceptional circumstance. The insurance companies’ reasons for not prolonging the contract shall be weighed against the interests of the consumer to continue with the insurance. If the insured does not except the notice of termination, he or she may contest the validity of the notice in court (chapter 7 section 3).
Sample 1
CONSUMER INSURANCE. In relation to consumers, insurance companies commonly use standard terms. Thus, it is possible to talk about contract terms that are generally applicable between a company and its customers. The Insurance Contracts Act is based on this condition. In the same way as in franchise contracts, the terms of consumer insurance contracts may be changed in connection with the renewal of a contract, usually once a year. Where the insurance company wishes to amend the insurance policy, the company shall specify the amendment in writing no later than in concurrence with the premium demand for renewal (chapter 2 section 5). The Act specifies the content of the information required. New terms and conditions must be stipulated separately (chapter 2 section 6). If the consumer pays the insurance premium, he or she is bound by the terms presented by the company. This does not mean that the insurance company is free to propose any terms whatsoever. According to the travaux preparatoires, changes in contract terms are not allowed in individual cases if their purpose is to scare a consumer away. Such an offer would be regarded as a notice of termination, and any such notice is allowed only under exceptional circumstances.21 This regulation shows clear similarities to the prolongation clauses of franchise contracts. It does not intend to secure fair or balanced contract terms, but only to guarantee that individual consumers are not treated worse than the remaining consumer collective. In this way, the regulation gives the consumer some protection against arbitrary behaviour on the part of the insurance company.
Sample 1

Related to CONSUMER INSURANCE

  • Health Insurance Portability and Accountability Act Grantee certifies that it is in compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA), Public Law Xx. 000-000, 00 XXX Parts 160, 162 and 164, and the Social Security Act, 42 USC 1320d-2 through 1320d-7, in that it may not use or disclose protected health information other than as permitted or required by law and agrees to use appropriate safeguards to prevent use or disclosure of the protected health information. Grantee shall maintain, for a minimum of six (6) years, all protected health information.

  • Safety Policy Each employer is required by law to have a safety policy and program. TIR will ask for and may require a copy of that policy and program.

  • Commercial Crime Insurance This policy is required only if Contractor handles or has regular access to a JBE’s funds or property of significant value to the JBE. This policy must cover dishonest acts including loss due to theft of money, securities, and property; forgery, and alteration of documents; and fraudulent transfer of money, securities, and property. The minimum liability limit must be $500,000.00. To the extent that Contractor utilizes subcontractors, all subcontractors shall comply with and perform in accordance with the provisions of this Section 3 (Insurance).

  • Health Insurance The Couple agrees that: (check one) ☐ - Each Spouse is responsible for THEIR OWN health insurance. ☐ - Health insurance IS PROVIDED by ☐ Husband ☐ Wife (“Health Insurance Paying Spouse”) to ☐ Husband ☐ Wife (“Health Insurance Receiving Spouse”). Health insurance shall include: (check all that apply) ☐ - Medical ☐ - Dental ☐ - Vision Care ☐ - Other. . To facilitate the use of such coverage for the Health Insurance Receiving Spouse, the Health Insurance Paying Spouse shall cooperate fully and in a timely manner, including, but not limited to, obtaining and providing all necessary insurance cards and claim forms, completing and submitting all necessary documents, and delivering all insurance payments.

  • Health Insurance Portability and Accountability Act of 1996 (a) If the Contactor is a Business Associate under the requirements of the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), as noted in this Contract, the Contractor must comply with all terms and conditions of this Section of the Contract. If the Contractor is not a Business Associate under HIPAA, this Section of the Contract does not apply to the Contractor for this Contract.

  • Group Health Insurance Immediately following retirement, the teacher shall have the option of remaining in the Corporation’s current group health insurance plan if all of the following conditions are met as of the date of retirement and thereafter:

  • Network Security and Privacy Liability Insurance During the term of this Contract, Supplier will maintain coverage for network security and privacy liability. The coverage may be endorsed on another form of liability coverage or written on a standalone policy. The insurance must cover claims which may arise from failure of Supplier’s security resulting in, but not limited to, computer attacks, unauthorized access, disclosure of not public data – including but not limited to, confidential or private information, transmission of a computer virus, or denial of service. Minimum limits: $2,000,000 per occurrence $2,000,000 annual aggregate Failure of Supplier to maintain the required insurance will constitute a material breach entitling Sourcewell to immediately terminate this Contract for default.

  • Malpractice Insurance During the entire contract period, and at the Contractor's own expense in whole or in part from contract funds, Contractor shall ensure that each of its attorneys has malpractice insurance coverage in the minimum amount required by the Oregon State Bar. Contractor shall provide proof of such insurance to PDSC on request.

  • Ontario Health Insurance Plan The parties recognize that the method of funding OHIP has been changed from an individually paid premium to a system funded by an employer paid payroll tax. If the government, at any time in the future, reverts to an individually paid premium for health insurance, the parties agree that the Colleges will resume paying 100% of the billed premium for employees.

  • Cyber Insurance The Contractor shall maintain network risk and cyber liability coverage (including coverage for unauthorized access, failure of security, breach of privacy perils, as well at notification costs and regulatory defense) in an amount of not less than $1,000,000. Such insurance shall be maintained in force at all times during the term of the Contract and for a period of two years thereafter for services completed during the term of the Contract.

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