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Обязательное страхование строительно - монтажных рисков "СМР"

What to do to the Insured:

According to clauses of the REGULATION on compulsory insurance of construction risks during the construction of objects at the expense of public funds and loans under a government guarantee to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 532 of December 20, 1999. it is necessary:

  • When an insured event occurs, the insurer or the person in whose favor the insurance contract is concluded is obliged, without waiting for requests or claims fr om the insurer, to take all possible measures to reduce potential losses and notify the insurer about the incident in writing within 7 calendar days. After receiving the news, the insurer is obliged to inspect the object within 3 days.
  • The insured is obliged to notify the insurer in writing of all insurance contracts concluded on this property with other insurance organizations.
  • The insurer must provide the insurer with all plans, specifications, invoices, duplicates or copies and other necessary documents to judge the circumstances and causes of the insured event.
  • After receiving a written application of the insured about the occurrence of the insured event and receipt of all documents necessary to decide on the payment of insurance compensation, a commission is created, which includes representatives of the insured and the insurer, as well as, if necessary, representatives of competent organizations at the expense of the person concerned.
  • Representatives of the insurer should have free access to the place of the insured event and to the relevant documentation of the insured and the persons in whose favor the insurance contract has been concluded to determine the circumstances, nature and extent of the damage.

In case of disagreement between the insurer and the insured regarding the circumstances, nature and extent of the damage, the issue is resolved by an expert commission.

Each party appoints its expert and informs the other party about it and pays for the services of its expert.

This rule does not lim it the rights of the parties to resolve disputes in other forms stipulated by law.

The policyholder may proceed to the elimination of the consequences of the insured event (replacement, repair), if possible, after inspection by representatives of the insurer of the damaged property and the scene and after written agreement with the insurer on actions to eliminate the consequences of the insured event.

The insurer or his representative has the right to participate in the rescue and preservation of the insured property, taking or indicating the necessary measures. These actions of the insurer or its representatives are not a recognition of the insurer's obligation to pay insurance compensation.

The insurance indemnity must be paid within five banking days after the recognition of the insured event and the commission signing the act determining the amount of damage and the amount due to the insurance indemnity.

The amount of compensation for the lost property is limited to the cost of its restoration or replacement at the time of the insured event, depending on which of these amounts is less.

A damaged property is considered lost if its repair costs exceed its actual cost or replacement cost at the time of the insured event.

In the event of damage to the property, the cost of repairs necessary to bring it to the state in which it was located immediately before the insured event is reimbursed.

The insurer reimburses expenses incurred to prevent or reduce damage if this damage would be reimbursed under the terms of insurance.

If the same insured event caused damage to several persons in whose favor the insurance contract was concluded, the total amount of compensation is distributed between these persons in such proportion as the damage of each person relates to the total amount of damage.

If, at the time of the insured event, other insurance contracts were in effect with the insurer of the property insurer, the damage compensation is distributed in proportion to the insurance amounts in which the property is insured by each insurer, and the insurer pays compensation only in proportion to its share.

For the delay in the performance of its obligations to pay insurance compensation, the insurer pays the insurer a penalty in the amount of 0.15 percent of the amount due to pay insurance compensation for each day of delay, but not more than 10% of the amount payable. Payment of the penalty does not relieve the insurer from the obligation to pay the insurance indemnity.

The policyholder loses the right to insurance compensation if the amount of the damage is fully reimbursed by the person responsible for the damage.

If the damage is compensated in part or less of the insurance indemnity due, then it is paid taking into account the amount received by the policyholder from the person responsible for causing the damage.

After paying the insurance indemnity to the insurer, to the extent of the amount paid, the right to claim damages, which the insured or the person in whose favor the insurance contract has concluded, has to the persons responsible for causing the damage. The policyholder is obliged to transfer all documents to the insurer and take all actions necessary to exercise the right of claim against the guilty person.

The insurer has the right to refuse to pay the insurance indemnity if the insured event occurred due to:

  • proven deliberate actions of the policyholder or the person in whose favor the insurance contract is concluded, aimed at the occurrence of the insured event, with the exception of actions related to the fulfillment of his civic duty or the protection of life, health, honor and dignity of the policyholder or third parties;
  • informing the insurer of knowingly false information about the insurance object of the degree of risk, the insured event and its consequences;
  • not informing the insurer of significant changes in risk, as well as errors, deficiencies and defects that were known to the insured and the persons for whom insurance was concluded, and preventing the insurer or his representative from participating in determining the circumstances, nature and extent of the damage;
  • other cases stipulated by the legislation of the Republic of Uzbekistan.

The insurer also has the right to refuse to pay insurance indemnity to the extent that the damage was caused by the failure of the policyholder or the person in whose favor the insurance contract was made to take reasonable measures to prevent and reduce the damage.