Voluntary TPL insurance

Voluntary customs broker’s third party liability insurance

Object of insurance is a property interest of Insured (Assured) related to its obligation, determined by legislation of the Republic of Kazakhstan to reimburse for damage occurred due to realizing of own professional activity of customs broker.

Insurance event is a damage to the represented person occurred due to acts of negligence, errors, omissions of Insured entailed non-fulfillment or improper fulfillment by him/her of his/her professional obligations in case if such actions were during period of insurance agreement validity and led to:

1. violation of the terms of provision of customs declaration of goods and motor vehicles;
2. incorrect charge of customs payments;
3. payment by the represented person of overstated customs duties in respect of goods and motor vehicles declared by customs brokers;
4. nonpayment (incomplete payment) of customs payments in respect of goods and motor vehicles declared by Insured (if it is stipulated by Insured and the represented person or if represented person is a foreign citizen);
5. indemnities in respect of penalty provisions charged by custom authorities as result of incorrect operations of customs registration;
6. non-observance of conditions ad restrictions on the use and disposal of goods and motor vehicles in respect of which customs registration is not completed before its issue or before its passing at the disposal of the represented person in accordance with selected customs regulations.

Sum insured – is a sum of money within the limits of which Insurer is obliged to pay indemnity and which is a maximum limit of Insurer’s liability at insurance event occurrence.

Sum insured is set by agreement of Parties.

Insurance agreement may set the following limits:

1) maximum aggregate liability limit (in this case sum of all indemnities on all insurance events for the whole period of insurance agreement’s validity shall not exceed this extent);
2) maximum liability limit per each occurrence;
3) maximum liability limit per one or several insurance events during period of insurance agreement validity;
4) maximum liability limit per each occurrence in respect of one or all insurance events.

Indemnity is paid to Beneficiary in amount of actually sustained and documentary proved losses occurred due to non-fulfillment (improper fulfillment) by Insured of customs broker’s activity less deductibles stipulated by insurance agreement.