Liberty accident insurance ( Castellano )
20. Claims - Payment of indemnities ( Contents )
In the event of a claim, the indemnity payment shall be adjusted based on the following rules:
- Once the necessary documentation has been received, the indemnities to be paid have been determined and the interested parties have confirmed their acceptance, the insurer shall proceed with the payment.
- The indemnity shall be paid in Spain, with Spanish currency.
- In the event of death due to an accident, the insurer is authorised to retain that part of the sum insured which, in accordance with the circumstances, shall be applied to the tax debt stemming from the settlement of the estate tax and other taxes which may be levied on the indemnity.
- The insurer is not obligated to provide advances, with the exception of those defined in article 5 in the event of death due to an accident or when it is otherwise established in the policy.
- Except when otherwise agreed, in the event of temporary disability, the insurer shall not establish the indemnity to be paid until the insured has been discharged by the physicians attending to him or her.
- If, in a term of three months from the event which caused the claim, the insurer has not indemnified the damage or begun to pay the minimum amount which is due, within forty days from the receipts of the claim report, the indemnity shall be increased due to the insurer's default, with the payment of annual interest of the same amount as the legal interest of the applicable prices at the moment when it was accrued, with a 50% increase. Notwithstanding the foregoing, once 2 years have elapsed from the occurrence of the claim, the annual interest may not be less than 20%.
The date of the claim shall be the initial term in the computation of said interest.
The indemnity due to insurer's default shall not take place when the indemnity or the minimum amount was not paid due to a justifiable cause or if it was not attributable to the insurer.