Railway Transport Insurance

The object insured in this case is the proprietary interests of the Insured related to possession, use and disposal of the railway transport due to its damage or destruction.

The insurance agreement can cover the following railway vehicles, beneficially owned or being used by the Insured under a lease agreement (insurable objects):

a) railroad engines (electric locomotives, diesel locomotives, steam locomotives, gas turbine locomotive, shunting locomotives, automobile railway cars, etc.)

b) multi-car rolling stock (electric units, diesel trains, turbotrains, battery-powered trains, etc.)

c) a set of freight cars (such as low-sided cars, flat cars, tank cars, box cars, insulated cars, special-purpose cars, refrigerator cars, etc.)

d) a set of passenger cars (for passengers, luggage, mail, luggage-and-mail, private service, restaurants, for special-purposes, etc.) The above mentioned units of carriage rolling stock are admitted for insurance if they are operational and registered in the established procedure.

An Event Insured is an event, defined by the insurance agreement as probable and accidental, that has taken place, whereupon the Insurer becomes liable to indemnify the Insured or Beneficiary for related losses.

In accordance with the insurance agreement concluded on this condition, the Insurer will indemnify for:

а) any expenses incurred by the Insured on elimination of damage to the structure of the vehicle insured, including its mechanisms, machinery or equipment.

b) any expenses incurred by the Insured on finding out the circumstances underlying the event insured

c) any appropriate and reasonable expenditures incurred by the Insured to recover the vehicle insured and to prevent or reduce the losses.

Territorial Scope means the territorial scope covered by the insurance agreement and is established by a mutual agreement of the parties.

Jurisdiction of Insurance Agreement is the Republic of Kazakhstan.

Insurance premium with respect to each object of insurance is determined on a case-by-case basis depending on exposure to risk.