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BILATERAL COOPERATION AGREEMENT ON CLAIMSSETTLEMENT
According to the Internal Regulations
__________________________________________________________________________
and_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Agree upon the following:
Article 1 General Pro!isions
__________________ and______________shall act on behalf of each
other as:
Correspondents according to the provisions of the Internal
Regulations adopted by theCouncil of Bureaus on Crete in May 2002
for clais arising fro accidents at their respectiveterritories!
In copliance with Article " of the Internal Regulations the
contractual partners shall advise theirnational Insurer#s Bureaus
about this agreeent!
$nless stated otherwise% the bellow articles apply to handling
clais according to the InternalRegulations! &he ter
Representative refers to the clais handling agent acting
asCorrespondent' the Motor &hird (arty )iability Insurer is
referred to as the &() Insurer!
Article " Clai#s $andling Co#%etence
&he Representative is authori*ed and obliged to handle the
clai according to the applicablelegal nors and loss ad+ustent
practices in the best interest of the &() Insurer! &he
&() Insurerwill grant full cooperation in obtaining inforation
and docuents needed by the Representative
for clai settleent! At the re,uest of the Representative% the
&() Insurer will provide inforationon the content of the law of
the state in which the accident occurred!
If the clai is subitted directly to the &() Insurer% it is
up to the &() Insurer to decide whether todelegate the clai
handling to the Representative or settle the clai on its own!
Article & Clai# $andling Procedures
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&'1 Co##unication&he Representative and the &()
Insurer will share without delay any inforation anddocuentation
pertinent to proper and tiely clai handling% in particular the
results of theirinvestigation of the accident circustances%
liability and the e-tent of loss!
&he preferred eans of counication% e-change of inforation
and docuentation are fa-% e.ail and phone!
Counication languages are to be /nglish!
&'" Clai# Noti(ication and Insurance Co!er
Con(ir#ation&he Representative advises &() Insurer that a
clai was subitted and provides details of theclai within five
woring days fro having learned about it! &his clai notification
has to includeinforation about the date on which the clai was
subitted!
&he &() Insurer replies to the Representative within
five woring days fro receiving the clainotification and confirs or
denies the validity of the M&() insurance at the date of
accident! Ifthe &() Insurer denies the insurance cover% the
atter is to be referred to the appropriate bodies1uarantee 3und%
Copensation Body4 without delay!
&'& Esta)lishing Lia)ilit*&he &() Insurer
conveys to the Representative any inforation and sends any
docuentationpertinent to the ,uestion of liability within five
woring days fro having ac,uired such inforationor docuent!
&he &() Insurer is obliged to infor the Representative
about any circustances due to whichliability and5or its e-tent
cannot established within the period of 6 onths fro subitting
theclai' such inforation has to be provided no later than 6 wees
before the end of the saidperiod!
If the claiant is partially liable for the loss% the &()
Insurer has to verify the degree of the
adverse parties# liability proposed by the Representative!
&'+ Loss Reser!e&he Representative will recoend a loss
reserve on each clai and infor the &() Insurerabout any
considerable changes in the aount of reserve! If the loss involves
personal in+ury ordeath or is e-pected to e-ceed /$R 2!000% the
Representative has to provide full inforationconcerning the loss
and specify individual ites of the loss reserve!
&', Li#its o( Inde%endent Settle#ent7ettleent of losses
under /$R 2!000 is not sub+ect to &() Insurer#s approval
provided theRepresentative has ascertained the e-tent of liability
and copliance with the relevant legalnors and loss ad+ustent
practices! 8hen in doubt about any legal and5or technical aspect
of
the clai handling% the Representative should consult the &()
Insurer!
In any other instance% the Representative will brief the &()
Insurer on the case developents andre,uest the &() Insurer#s
verification of the aounts of copensation to be paid to the
claiant!
Clais e-ceeding /$R 2!000 are to be handled in close liaison
with the &() Insurer andpayents of copensation are sub+ect to
the &() Insurer#s approval!
&'- Losses due to in.ur* and death
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