Railway transport insurance
Insurance object is the property interests of Insured connected with possession, use and disposal of railway transport, and occurring due to its damage, destruction and loss.
JSC “IC “Kazkommerts-Policy” insures the following railway transports:
- Group 1 – box cars, platforms, gondolas;
- Group 2 – pellet carriers, motor vehicles transportation carriages, dumping cars;
- Group 3 – cisterns, grain-carriages, mineral wagons, container platforms, soda carriers;
- Group 4 – cement carriers, container carriers, carriages with 12 (inclusive) center pins, and other carriages not included in groups 1, 2, 3, 5, 6;
- Group 5 – refrigerator wagons, carriages with 16 and more center pins;
- Group 6 – thermos-cars;
- Group 7 – other kinds of railway transport
Insurance event – is a risk of damage or destruction (loss) of railway transport in the following cases:
- train crush, averages, collision or derailment (both during trips and at shunting operations), railway tunnels crumbling;
- fire, explosion, lightning stroke;
- storm, hurricane;
- earthquakes, convulsion of nature or action of subsurface fire;
- landslide, mudflow, mountain collapse, flood, subsidence of soil, whirlwind, hail, downpour, unlawful actions of third party;
- fall of piloted aircrafts or debris and objects thereof;
- violation of technology of materials handling operations.
Insurance agreement can be concluded on the basis of one of the following variants:
1. Damage of railway transport;
2. Destruction of railway transport;
3. Loss of railway transport.
Sum insured – is a sum of money insurance object is insured on, and that represents Insurer’s liability limit at insurance event occurrence. Amount of sum insured shall be determined by parties’ agreement on the basis of the documents confirming the actual cost of railway transport to the moment of conclusion of insurance Agreement (insurance cost).
Annual insurance rate varies from 0,5% to 2% of sum insured. Raising and decreasing rates are applied. Insurance premium payment can be paid by cash or bank transfer, lumpsum or by installments.
Amount of actual damage shall be determined:
- in case of total loss, destruction (misappropriation) of railway transport – in amount of insurance cost of railway transport under insurance Agreement less available remains disposable for use and sales, taking into consideration the deterioration.
- in case of partial damage – in amount of expenses of its repairs or recovery or in amount of the corresponding part of the cost, if railway transport shall not be repaired (recovered).
