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B-6 Premium adjustment and right of cancellation after a premium adjustment, Liability Basis Plus
Clause B-6, Premium adjustment and right of cancellation after a premium adjustment, from Watercraft Liability Insurance, Basis Plus, AVB WSH Basis Plus (01-2025nam).
German law applies; only the German wording is binding.
This English text is a courtesy so you can read what you buy, not a contract document.
Where the two differ, the German text decides:
(The German original numbers the subclauses of B-6 as 6.1 to 6.6, without the prefix B-.) 6.1 The insurance premiums are subject to premium adjustment. It takes effect from the beginning of the insurance year that begins on or after 1 July. So far as premiums are calculated by payroll, construction or turnover totals, no premium adjustment takes place. Minimum premiums are subject to premium adjustment irrespective of the method of premium calculation.
6.2 An independent trustee determines annually, with effect for the premiums of the insurance years beginning on 1 July, the percentage by which the average of the claims payments of all insurers licensed to write general liability insurance rose or fell in the past calendar year compared with the year before that. The trustee rounds the percentage determined down to the next lower whole number divisible by five. Claims payments also include the expenditure occasioned specifically by the individual claim for determining the basis and amount of the insurance benefits. The average of the claims payments of a calendar year is the total of the claims payments made in that year divided by the number of claims newly notified in the same period.
6.3 to 6.5: same wording in Liability Basis, clause B-6
6.6 Provisions B-6.1 to B-6.5 do not apply to financial loss liability insurance.
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