Terms of return and cancellation of the policy
Under certain conditions, the «Green Card» policy, like any other, can be returned or canceled.
Responsibility and rights of the insurer:
- Early termination of the insurance contract does not entail the release of the insurer from the obligation to make insurance payments for insured events that occurred during the term of the insurance contract;
- In case of early termination of the insurance contract on one of the above grounds, the insurant shall be refunded a part of the insurance premium in proportion to the unexpired period of insurance;
- In case of early termination of the insurance contract on one of the above grounds after the occurrence of an insured event, the insurance premium is not returned to the insured;
- If the insured withdraws from the insurance contract before the commencement of the insurance period, the insured shall be refunded a part of the insurance premium minus the insurer’s expenses in the amount of 30% of the amount of the insurance premium paid under the insurance contract;
- The insurer is obliged to return part of the insurance premium to the insured within 14 calendar days from the date of submission of the relevant application of the insured for early termination of the insurance contract.
The calculation of the unexpired term of insurance starts from the day following the date of early termination of the insurance contract.
Call our specialists at a convenient time for you, explain the reason for the cancellation of the policy, and we will advise you on all the necessary actions. We value our customers and guarantee a refund of the cost of the policy.
Early termination of the insurance contract
The validity of the insurance contract is terminated before the end of the period for which it was concluded, if the possibility of an insured event has disappeared, and the existence of the insured risk has ceased due to circumstances other than an insured event.
The date of early termination of the insurance contract shall be the date of receipt by the insurer of a written application from the insurant on the early termination of the insurance contract. The application is drawn up in free form and must contain a note from the insured about the absence or presence of insured events that occurred under the insurance contract before the date of the application. Together with the application for early termination of the contract, the policyholder returns the original insurance certificate (if any) to the insurer.
The policyholder has the right to early terminate the insurance contract
- In case of revocation of the insurer’s license in accordance with the procedure established by the legislation of the Russian Federation;
- In case of termination of the insurer’s right to carry out operations within the framework of the «Green Card» system (the right of the insurer to carry out operations within the framework of the «Green Card» system is terminated from the moment the insurer is excluded from the list of insurers carrying out insurance operations within the framework of international insurance systems, which is maintained in accordance with with the Compulsory Insurance Law is implemented by the Russian Union of Motor Insurers);
- In other cases stipulated by the legislation of the Russian Federation.
