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A-4 Benefits under the insurance, Watercraft Liability Insurance, Basis
From Watercraft Liability Insurance, Basis, AVB WSH Basis (1-2025nam). German law applies to the contract and the German wording alone is binding. This English text is a courtesy so that you can read what you are buying. It is not a contract document. Where the English and the German text differ, the German text decides: read this clause in German.
The following applies to the insurer's performance:
A-4.1 Cover comprises examination of the question of liability, defence against unjustified claims for damages, and your indemnification against justified obligations to pay damages. Obligations to pay damages are justified where you are obliged to pay compensation on the basis of statute, a final judgment, an admission of liability or a settlement, and the insurer is bound by that. Admissions and settlements made or concluded by you without the insurer's consent bind the insurer only so far as the claim would have existed even without the admission or settlement. Once your obligation to pay damages has been established with binding effect for the insurer, the insurer must indemnify you against the third party's claim within two weeks.
A-4.2 The insurer is authorised to make, in your name, all declarations that appear expedient to it for settling the claim or defending against the claims for damages. If in an insured event legal proceedings arise about claims for damages against you, the insurer is authorised to conduct the litigation. It conducts the proceedings in your name and at its own cost. For insured events in the USA, US territories and Canada, or for claims asserted there, the following applies: the policyholder bears 20 per cent of every such loss, with a minimum of 2,500 euros. The deductible also takes into account the insurer's expenditure on the judicial and out of court defence against the claims asserted by a third party, in particular lawyers', experts', witnesses' and court costs.
A-4.3 If, in criminal proceedings concerning a loss event that may give rise to a liability claim covered by the insurance, the insurer wishes or approves the appointment of defence counsel for you, the insurer bears the counsel's costs at the statutory scale of fees or the higher costs specifically agreed with it.
A-4.4 If you or a co-insured person obtain the right to demand the cancellation or reduction of an annuity payable, the insurer is authorised to exercise that right.
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