It is established for the purpose of insuring business risks arising as a result of non-return of the principal debt on the unsecured part of the loan received by the insured under the loan agreement.

INSURANCE EVENT

    Damage to the beneficiary as a result of failure of the insured to fulfill his obligations due to the loss of the ability to pay during the period of timely payment of the principal debt to the beneficiary is considered an insurance event.

EXCEPTIONS TO THE INSURANCE EVENT

    The insurer has the right to refuse to pay insurance coverage in the following cases:

When the beneficiary or the insured, the insurer makes a decision to conclude an insurance contract, gives suspicious or false information about the circumstances that are important for determining the insurance liability;

When the beneficiary violates his obligations under the loan agreement or does not comply with lending rules and guidelines (for example, violation of the terms of the loan, change of the loan amount without agreement, etc.)

When the insured is released from his obligations under the terms of the loan agreement or with the consent of the beneficiary;

If the received loan was used by the policyholder for no purpose;

If the intended use of the loan granted by the beneficiary has not been monitored in the prescribed manner;

When the beneficiary or the policyholder does not pay the insurance premium within the terms and conditions of the insurance contract, etc.

INSURANCE PERIOD

    The term of the loan agreement is determined

PAYMENT OF INSURANCE INDEMNITY

    Before applying for insurance compensation from the insurer, the beneficiary must take full collection measures from the insured and pay the insurance compensation to the insurer only when the borrower's assets are insufficient. has the right to make a demand.

The insurer shall pay the insurance coverage within 5 (five) banking days after the submission of all the necessary documents for the consideration of the insurance claim and the signing of the act of the insured event.