How long we are obliged to notify the insurer of an insurance event
How long we are obliged to notify the insurer of an insurance event
Upon the occurrence of the insured event, the insured is obliged to notify the insurer within seven working days from the knowledge of the occurrence of the insured event, unless the contract provides for another appropriate term.
The term of notification of an insured event under the contract may not be less than three working days from the date of the knowledge. In the case of insurance against the risks of theft or theft, the period of notice under the contract may not be less than 24 hours from the time of knowledge.
If a third party is entitled to receive payment under an insurance contract, it shall be obliged to notify the insurer of the occurrence of an insured event within the time limits already specified, regardless of the obligation of the insured to notify.
The insurer shall have the right to refuse payment if neither the insured or the insurer nor the third party has fulfilled their obligations within the specified time limits in order to prevent the insurer from establishing the circumstances in which the event occurred or the failure made their establishment impossible.
The insurer may not refuse payment if it has learned of the occurrence of the insurance event before being notified by the insured or a third party.
After the occurrence of the insured event, the insurer has the right to request from the insured and the insurer the necessary information in order to establish the facts and circumstances in connection with the insured event or to determine the amount of the compensation by the insurer.
This hypothesis also applies in cases where a third party is entitled to receive payment under an insurance contract.
Insurance compensation
Upon the occurrence of the insured event, the insurer is obliged to pay insurance indemnity within the agreed period. The time limit may not be longer than 15 working days.
Unless otherwise agreed in the insurance contract, the insurer shall not owe compensation for the loss of benefits.
If, after payment of the insurance indemnity, the illegally seized or lost insured property has been found, the insured is obliged to transfer the ownership of it to the insurer or to a person designated by the insurer in writing. In case the insured wishes to retain the property found, he shall be obliged to return to the insurer the compensation received and all other reasonable expenses incurred by the insurer in connection with the damage incurred.
The insurer may refuse to pay compensation only:
1. in case of intentional causing of the insurance event by a person entitled to receive the insurance compensation;
2. in case of intentional causing of the insurance event by the insurer for the purpose of receiving the insurance indemnity by another person;
3. in case of non-fulfillment of an obligation under the insurance contract by the insured, which is significant in view of the interest of the insurer, was provided by law or in the insurance contract and led to the occurrence of the insurance event;
4. upon occurrence of an event that excludes risk under the insurance contract;
5. in other cases provided for by law.
(2) In the cases under item 1, where a third beneficiary intentionally caused the insured event without the knowledge and participation of the insured or other beneficiary persons, the compensation shall be paid to the other beneficiaries, or if not, to the insured or to his heirs. In case of payment of insurance indemnity, the insurer enters into the rights of the insured against the person who intentionally caused the insurance event.
Attorney at law Iuila Danova
#3, Dobrotica Str., Varna, Bulgaria
Mob: +359 895 64 59 40
WWW: advokatvarna.com
Email: iulia.danova@abv.bg