A-11 Limitation of the benefit, Watercraft Liability Insurance, Basis

A-11.1 The maximum sum of cover per insured event and per insurance year is stated in your policy schedule. It applies even where cover extends to several persons liable to pay compensation.

A-11.2 For clause A-10.5, environmental damage, the sum insured named there applies per insured event and per insurance year. The insurer's indemnity payments for all insured events of an insurance year are limited to twice the agreed sums insured. German law applies to the contract. The German wording of the conditions alone is binding; this translation is provided for understanding only.

A-11.3 Several insured events occurring while the insurance is in force count as one insured event, occurring at the time of the first of those insured events, where they are based on the same cause or on identical causes with an internal connection, in particular a factual and temporal one.

A-11.4 The insurer's expenditure on costs is not set off against the sums insured. This does not apply to losses abroad under clause A-7 and to domestic insured events asserted abroad under clause A-8 of these conditions.

A-11.5 Where the justified liability claims from one insured event exceed the sum insured, the insurer bears the litigation costs in the proportion that the sum insured bears to the total amount of those claims.

A-11.6 Where you have to make annuity payments to the injured party and the capital value of the annuity exceeds the sum insured, or the remaining balance of the sum insured after deduction of any other payments from the insured event, the annuity to be paid is reimbursed by the insurer only in the proportion that the sum insured, or its remaining balance, bears to the capital value of the annuity. The relevant provision of the German ordinance on insurance cover in motor vehicle liability insurance, in the version in force at the time of the insured event, applies to the calculation of the annuity value. When calculating the amount by which you must contribute to ongoing annuity payments, where the capital value of the annuity exceeds the sum insured or the balance of the sum insured remaining after deduction of other payments, those other payments are deducted from the sum insured at their full amount.

A-11.7 If the settlement of a liability claim required by the insurer by way of admission, satisfaction or compromise fails because of your conduct, the insurer is not liable for the additional indemnity, interest and costs arising from the point of refusal onwards.