Colonnade Insurance S.A.

Branch Office in Hungary

General Third Party Liability

General Terms and Conditions

OCC-003-2017

Effective from: July 1st, 2018

 Table of contents

General Terms and Conditions 3. page

I. Chapter General Public Liability Insurance 23. page

II. Chapter Product liability 27. page

III. Chapter Employers’ liability insurance 33. page

 GENERAL TERMS AND CONDITIONS

In consideration of premium paid Colonnade Insurance S.A. Branch Office in Hungary provides insurance coverage to
the entrepreneurs indicated as the insured parties on the Policy Schedule, in accordance with the following terms and
conditions.

In the absence of any contractual provision to the contrary, the present Terms and Conditions shall be applied to the
insurance contracts of Colonnade Insurance S.A. Branch Office in Hungary, provided that the insurance contract is
concluded with reference to the present Terms and Conditions.

Definitions

(a) Bodily Injury: Bodily injury shall mean physical injury sustained by any person and shall be
deemed to include sickness or disease, including death at any time resulting
therefrom occurring during the Period of Insurance. Psychic or mental disorders,
psychiatric diseases or syndromes occurring with no physical damage to the body shall
not be considered as Bodily Injury.
(b) Property Damage: Property Damage shall mean a physical injury to or destruction of a tangible
property, including the resultant loss of use of such property.

(c) Deductible: Deductible shall mean the amount of loss which the Insured himself shall bear out of
each and every loss. The amount of the Deductible shall apply to both the amount of
compensation as well as legal costs and expenses. The Insurer’s obligation to pay
compensation shall apply only to the compensation exceeding the amount of the
Deductible.
(d) Indemnification: In the case of Bodily Injuries, indemnification shall include the compensation of
damages and compensation of pain and suffering as granted by the court or
undertaken by way of the prior written approval of the Insurer. In the case of
Property Damage, it shall include the compensation of damages but not the
compensation for pain and suffering.

(e) Contracting Party: Contracting party shall mean the person who concludes an Insurance Contract
with the Insurer and pays the insurance premium. The Contracting Party and the
Insured may be one and the same person.

(f) Insured: Insured shall mean the Party defined as such in the Insurance Contract and who may
from the Insurer to indemnify him – to the extent and under the conditions as specified
claim
Insurance
in the Contract – against the claims for damages for which the Insured shall be
accordance
liable in with the law. Furthermore, Insured shall mean the executive officers of
Insured
the with respect of any damage caused to third parties in relation to their
capacity.
executive

(g) Co-insured or Additional Insured: Co-insured or Additional Insured shall mean any legal person or any organization
without legal personality specified in the Insurance Contract which is provided with
the same insurance coverage as the Insured (and together with the Insured) in
respect of any loss and damage caused in the course of the Co-insured’s/Additional
Insured’s activity performed for or on behalf of the Insured. Limit of Liability shall
apply to the Insured and the Co-insured/Additional Insured together.
(h) Pure Financial Loss: Pure Financial Loss shall mean any pecuniary damage which incurred by the claimant
but not as a consequence of a Bodily Injury and/or Property Damage caused by the
Insured.
(i) Insurer: The insurance coverage is provided by Colonnade Insurance S.A.. The company has
been registered in Luxemburg by the Registre de Commerce at des Sociétés,
Luxemburg, register number : B 61605. Registered seat: 1, rue Jean Piret, L-2350
Luxembourg. The registered address of Colonnade Insurance S.A. Branch Office in
Hungary is H-1139 Budapest, Váci út 99., and it is registered at the Registrar of
Companies of the Metropolitan Tribunal of Budapest under company registration
number 01-17-000514. Telephone number: +36 1 460 1400. Colonnade Insurance S.A.
operates under the license of Grand-Duche de Luxemburg, Minister des Finances,
Commissariat aux Assurances (L-1840 Luxemburg, Bureaux: 7, Boulvard Joseph II).

Insurance Coverage

1. This insurance is a complex liability insurance which may comprise the following types of coverage:

a) General Third Party Liability Insurance (Chapter I)

b) Products Liability Insurance (Chapter II).
c) Employer’s Liability Insurance (Chapter III)
The Insured shall be covered solely by the insurance coverage types specifically indicated in the Policy Schedule.

Scope of Coverage

2. Under the liability insurance contract the Insurer shall, up to the Limit of Liability specified in the Policy Schedule,
indemnify the Insured against the claims for damages for which the Insured shall assume liability in his capacity (due
to his occupancy) as indicated in the Policy Schedule in accordance with the Hungarian law or the law(s) specified as
the "Jurisdiction" in the Policy Schedule.

3. Unless otherwise stated in the respective Chapters of insurance attached hereto, liability insurance shall cover losses
which were caused, occurred during the policy period and for which claims are made against the Insured.

Indemnification

4. The Insurer shall indemnify the Insured in the manner and to the extent as prescribed by the respective laws, or in the
relevant court decision if the obligation to pay compensation is based on such a decision.

5. The Insurer shall pay damages on the basis of the claims submitted with reference to the liability insurance to the
extent to which the Insured shall be liable for the damage in question according to Hungarian law or the law(s) specified
under Jurisdiction" in the Policy Schedule; the amount of compensation, however, shall not exceed the amount
specified as the upper limit of compensation in the Policy Schedule (Limit of Liability). Unless agreed to the contrary,
legal costs and expenses as well as any interest shall decrease the Limit of Liability.

6. Should the aggregate amount of claims exceed the Limit of Liability the Insurer shall rank the claims in the following
order:
1. Costs arising in connection with health recovery,
2. Loss of earnings due to Bodily Injury,

3. Disability benefits and maintenance allowance,

OCC-003-2017 4
 4. Other direct damages due to Bodily Injury,
5. Property damage,

6. Damages for pain and suffering.

7. Should the liability for damage be shared, the Insurer shall indemnify the Insured in the proportion as he shall assume
liability according to the relevant laws or court decision.

8. In respect of the amount of compensation, the Insurer is not bound by the acknowledgement of liability,
commitment or proposal for settlement of the Insured, unless the prior or subsequent consent of the Insurer is given.
Should the amount of claim concerning the acknowledgement, commitment or proposal for settlement exceed the
amount of claim stipulated in any legal regulation or in any decision of the court or in case of the absence thereof
in any available evidence, or exceed the Limit of Liability as indicated in the Policy Schedule, the Insurer shall not be
obliged to pay the difference.

9. In case of Bodily Injury the amount of indemnification for pain and suffering may be determined solely in a final
decision of the court or a legal settlement between the Insurer and the claimant (or his legal heirs). In the absence
thereof, the Insurer shall not be obliged to indemnify for Compensation of Pain and Suffering.

10. Should the Insured receive any refund on any legal ground in connection with the loss, the respective amount shall be
paid to the Insurer up to the sum of indemnification and be reported simultaneously.

11. In case of a combined limit one single aggregate limit shall be applied to all liability insurance coverages, per claim
and per policy period. The combined limit per claim and per policy period may be exhausted by any claim reported with
respect to any of the insurance coverages indicated in the Policy Schedule.

Policy Period

12. The period indicated on the Policy Schedule.

Policy Territory

13. Liability insurance provides coverage for claims arising out of damages occurring in the territory of Hungary or
in the country/countries indicated under “Policy Territory” on the Policy Schedule.

Limit of Liability

14. The Limit of Liability shall be the maximum amount (limit) of indemnity as specified with respect to the respective
insurance coverages in the Policy Schedule. The limit shall include the amount of indemnification, interests and also
any legal costs and expenses that may incur by the person liable for the loss. Limits shall apply for 365 calendar days
from the inception date (Policy Year) even if the Policy Year does not correspond to the calendar year. If the Policy
Schedule indicates a different insurance period than the Policy Year, then limits shall apply to that insurance period.

15. To calculate the available sum of indemnity, it is not the date of the payment of damages that shall be
taken into consideration but the date of occurrence (date of loss).

16. The date of occurrence in the case of series of losses shall be the date when the first event of the series occurred;
even if the sequential events occur after the policy period. Series of loss shall mean that the events arise out of the
same tortful act and cause, or may be traced back to the same cause even if the losses occurred at different times,
provided that there is causality between the cases.
OCC-003-2017 5
17. For the purpose of calculating the exhaustion of the Limit of Liability annuities shall be considered at a discounted
value with regard to the estimated period of payment.

18. The amount of indemnity paid shall be deducted from the Limit of Liability pertaining to the ongoing
insurance period, unless the Insurer and the Contracting Party agree that the latter completes the annual premium
accordingly.

Commencement and Ending of the Coverage

19. (1) Insurance coverage shall commence at 00:00 hours following the day when the insurance proposal is
delivered to the Insurer, provided that the Insurance Contract is subsequently concluded.

(2) The Contracting Party and the Insurer may agree upon a different date of commencement than the one
stated in paragraph (1) above.

Obligations of the Insured (Contracting Party)

20. When concluding or modifying the Insurance contract, the Insured (Contracting Party) shall provide the
Insurer according to the truth and to its best knowledge with any and all relevant information and
circumstances to which a question is put by the Insurer and which may have an effect on the underwriting
circumstances of the product. The Insured (Contracting Party) shall report to the Insurer any changes to
these information and circumstances within 8 (eight) days following such change.

21. The Insured (Contracting Party) shall allow the Insurer to verify any information that has been disclosed to the
Insurer.

22. Should the Insured breach the duty of disclosure or the duty to report changes, the Insurer shall not be held
liable to indemnify the Insured. Under such circumstances it is the obligation of the Insured to prove that it had
no knowledge of such information or circumstances; or that such withheld or un-disclosed information was
known to the Insurer upon conclusion of the Insurance Contract; or that it was common-knowledge; or that
such information and circumstances had no effect on the occurrence of the insured event.

Capitalization of annuities

23. In case of obligation to pay annuities the Insurer, the Insured and the claimant may initiate the redemption
of such annuity in a lump sum (capitalization). Capitalization of annuities shall be permitted only by
common assent of the Parties in case the Insurer, the Insured and the claimant agree on both the fact and the
amount of capitalization. In the course of capitalization of annuities capital of the annuity shall be
determined on the basis of the mortality table of women in Hungary for 2005 and a 2.9% technical interest
rate.

Insurance Period

24. (1) The Insurance Contract may be concluded for a definite or an indefinite period of time. Insurance period
for insurance policies with an indefinite period is one year. Should the insurance period expire
without the termination of the contract by any of the parties, the Insurance Contract shall
automatically renew for another insurance period of one year. Renewal date is the first day of the
insurance period as indicated on the Policy Schedule.
OCC-003-2017 6
 2) Insurance Contracts concluded for an indefinite period may be cancelled by the Parties in writing
to the end of the Insurance Period with thirty (30) days notice. The notice period shall begin when the
cancellation notice is delivered to the other Party.

The Insured (Contracting Party) and the Insurer may exclude their right to cancellation in the Insurance
Contract for a period of three (3) years the longest.

Should the Parties conclude the insurance contract for a period longer than three years and should the
Insured (Contracting Party) and the Insurer not stipulate the possibility of cancellation of the Insurance Contract
before the expiry of the insurance period, the Insurance Contract may be cancelled by any of the parties from
the fourth year on. Should the insurance contract be terminated due to cancellation by the Contracting Party,
the Insurer shall be entitled to the refund by the Contracting Party of the premium discount which has been
offered with regard to the longer period of the contract (Loyalty Discount)

Termination of the Insurance Contract shall not affect any ongoing adjustment of claims occurring
before the termination.

Material Change

25. (1) Should the Insured (Contracting Party) report or the Insurer become aware of any material alteration to
the underwriting circumstances, the Insurer shall be entitled to propose the amendment of the terms
and conditions of the Insurance Contract (including the insurance premium) corresponding to the
changes in these circumstances within 15 (fifteen) days; or should the continued coverage
conflict with the underwriting regulations of the Insurer due to the changes in these circumstances,
the Insurer shall be entitled to cancel the Insurance Contract with thirty (30) days notice.

(2) If the Insured (Contracting Party) does not accept the proposal as to the amendment of the Insurance
Contract or does not respond thereto within 15 (fifteen) days, the Insurance Contract terminates on the
30th (thirtieth) day as from the date of the proposal. The Insured (Contracting Party) shall be warned to
these consequences at the time of the proposal for amendment.

(3) Should the Insurance Contract apply to more than one Insured Party simultaneously and should
the risk increase materially in correlation only with one or another, the Insurer shall not be entitled to
exercise its rights regulated in Section (1) and (2) against the other Insured Parties.

Insurance Premium Payment and Conditions of Determination of the Insurance Premium

26. The Contracting Party is obliged to settle the insurance premium to the Insurer on or before the due date.
The first insurance premium (first premium instalment) shall be due upon conclusion of the Insurance Contract
and any insurance premium for further insurance periods shall be due upon the first day of the respective
insurance period.

27. Should the Contracting Party fail to settle the insurance premium (or the instalment if the parties agreed that the
premium shall be paid in instalments) on or before the due date, the Insurer shall be entitled to request
payment in writing, by granting a 30-day grace period and also warning the Contracting Party to the
consequences of non-payment. The Insurance Contract shall terminate retroactively with effect of the original
due date if the grace period expires without the Contracting Party settling the Insurance Premium, unless the
Insurer takes legal action as to the enforcement of its claim before court without delay.

OCC-003-2017 7
 Should the Contracting Party fail to pay the due Insurance Premium (premium instalment) and the
Insurer fail to send its request of payment as stated above, the contract shall terminate at the end of
the insurance period.
In respect of the present Insurance Contract the Insurance Premium is considered to be continuous
in the following cases:

- any premium under an insurance contract concluded for indefinite period which is due for a
Contract period other than the first, or is not the first instalment within the first period,
- any premium instalment within the Contract period other than the first in case the insurance
contract is concluded for a definite period and the premium is paid in instalments.

In case the due insurance premium is paid only in part and the Insurer, in conformity with the above,
notifies the Contracting Party to complete the payment but such notification has no result, the
Insurance Contract shall continue with unchanged sum insured for a period in proportion with the
premium paid.

Should the Insurance contract terminate due to non-payment of the continuous insurance
premium in accordance with above, the Contracting Party shall be entitled to request the
Insurer to reactivate the insurance coverage within one hundred and twenty days from the date
of termination of the Insurance Contract. The Insurer may reactivate the insurance coverage
under the terms and conditions of the terminated contract on condition that the formerly due
insurance premium is paid.

28. All necessary data to calculate the insurance premium for the insurance period shall be provided to the
Insurer by the Insured (Contracting Party).

29. Insurer may determine the Insurance Premium as flat premium or as a post-adjusted premium.
In the case of determining a flat premium, the Insurer calculates a lump sum premium on the basis of
the data provided in the insurance proposal or the insurance data sheet. In case of premium
adjustment, the condition of inception of the insurance coverage is the settlement of a minimum
deposit premium to the Insurer which shall be determined on the basis of projected figures in the
insurance proposal. Minimum deposit premium is non- refundable. In case of premium adjustment
the finalized sum of the premium shall be determined after the expiry of the insurance year on the
basis of actual figures of premium calculation for the previous insurance period. Insurer is entitled to
verify any figures that serve as the basis for premium calculation. Insurer shall invoice the amount of
margin between the final and the minimum deposit premium.

LEGAL CONSEQUENCES OF IMPROPER DISCLOSURE OF FIGURES

30. Should the Insured (Contracting Party) provide the Insurer with improper figures forming the basis of
calculation of the insurance premium (e.g.: turnover, number of employees, payroll) or should not
fulfil its obligation stipulated in Article 34 then, should a loss occur, the Insurer shall indemnify
the Insured only to the extent (but maximum the full amount of indemnification) in which
proportion the premium actually paid relates to the premium which the Insured (Contracting
Party) should have been paid in the case of supplying the accurate figures.

Obligation to Report Insured Events and Conservation of State

31. The Insured shall report within 30 (thirty) days in writing any claim that has been notified by any claimant,
provide all necessary information and enable the Insurer to verify any content of the loss report and disclosure of
information.
OCC-003-2017 8
32. The Insurer shall not be liable to indemnify the Insured in case the party does not comply with its obligations
stipulated in the previous Section and as a result essential circumstances become undetected.

After any occurrence the Insured may change the state of a damaged asset to the extent as it is necessary to
fulfil its duty of loss mitigation until the beginning of the loss settlement procedure, but no later than 5 (five)
days following the date of reporting the claim. The Insurer shall not be liable to indemnify the Insured in case the
party changes the state of the asset to a greater extent than it is allowed, and as a result essential circumstances
become undetected in respect of the Insurer’s obligation to indemnification.

33. Should any legal action be brought before the court for compensation, the Insured shall notify the Insurer
without delay and enable the Insurer to join the legal procedure.

34. Should any other official procedure be initiated, the Insured shall notify the Insurer about the fact of any
ongoing procedure and any decision made by the acting authority.

35. The separate appendix (as) to the present Terms and Conditions contains the list of official documents and other
means of evidence that shall be provided to the Insurer during the loss settlement procedure.

Due date of indemnification

36. The amount of indemnification shall be due on the date when all necessary documents are disclosed to the
Insurer which justifies the tort and the liability of the insured in accordance with the present Terms and
Conditions and the special terms and conditions, and it is confirmed that on the legal ground established in the
case in question, damages may be paid in accordance with the conditions of the insurance contract. In case of
Bodily Injury and Compensation of Pain and Suffering indemnification shall be due on the date of the final
decision of the court awarding the compensation or the date of legal settlement between the insurer and the
claimant.

Insurer shall indemnify the Insured within 10 days following the above due dates.

The Insurer’s right of recourse and the Insurer’s exemption

37. (1) The Insurer is entitled to claim the indemnity paid from the Insured when the insured has caused the loss
wilfully or by unlawful gross negligence. In respect of the present Terms and Conditions losses are
considered to be caused by gross negligence in case the person liable for the tort:

- caused the damage while being intoxicated by alcohol (over 0.0 promille) or drugs,

- caused the damage by performing an activity subject to authorization, without the respective
authorization,

- caused the damage under similar circumstances repeatedly and failed to discontinue its activity
despite of the request of the Insurer, however it could have been terminated,

- caused the damage by the breach of regulatory provisions on use of firearms,

- received official notification or warning on the high possibility of occurrence of the

damage, on necessity of loss prevention, and the damage was caused as a consequence of the
omission to take the necessary measures,

OCC-003-2017 9
 - caused the damage by omission of fulfilling its periodically repeatable maintenance obligations.

38. Should the Insured fail to fulfil his duty of loss mitigation, the Insurer may demand that the Insured shall
pay any additional loss that has resulted from such omission.

39. The Insurer shall not be liable to compensate any damage that has been caused by the willful activity of the
Insured.

Representation

40. (1) With respect to claims admitted against the Insured the Insurer may represent the Insured both in and
out of court; however, shall not be obliged to do so. The Insurer shall bear all incurring costs of
such representation.

(2) The Insured shall not acknowledge any claim for compensation, conclude arrangements or pay
compensation without the consent of the Insurer. Any commitment to or fulfilment of any such
obligation shall have no effect on the Insurer.

Shall the court decide in favour of the claimant in a lawsuit against the Insured, the sentence of the
court shall have no effect on the Insurer, unless the Insurer represented the Insured party, or has
otherwise taken part in the lawsuit, or it has waived its right of representation or participation in the
lawsuit.

Limitation period

41. Limitation period of any claims arising out of the Insurance Contract shall lapse after two (2) years from the
due date.

42. All issues not regulated in the present Terms and Conditions or the Insurance Contract shall be governed by the
respective provisions of Hungarian law.

Exclusions related to sanctions and commercial embargos

43. The Insurer shall not assume any payment obligation with respect to any damage otherwise covered by
the Insurance Contract and its extensions if:

• the Insured or the beneficiary is the national or a government agency of a country against which the laws
and/or other regulations determining the present insurance coverage and/or the Insurer, its parent
company or the operation of the company that has an influence ensuring qualified majority in the Insurer,
have introduced an embargo or another economic sanction that prohibits the Insurer from entering into
insurance transactions or providing other economic benefits to the Insured or any other beneficiary.

Furthermore, no payments shall be made to the beneficiary/beneficiaries to whom/which no economic

benefits shall be provided in accordance with the laws and/or other regulations pertaining to the
Insurer, its parent company or the company having influence that ensures qualified majority in the Insurer.

General exclusions referring to all covered insurances (Chapter I., II and III.)

44. Nuclear Energy Risks (Full and absolute Nuclear Energy Risk Exclusion): This policy does not provide cover for cost
and expenses and does not cover and excludes claims directly or indirectly in connection with nuclear materials,
nuclear reaction, radiation or radioactive contamination regardless of how it was caused, or directly or indirectly
OCC-003-2017 10
 in connection with any actual or alleged breach of any law in respect of the nuclear materials.

45. Asbestos Exclusion (Full and absolute Asbestos Exclusion): This policy does not provide cover for cost and
expenses and does not cover and excludes any liability arising out of:

a) existence, handling, extraction, breaking down, filing, mining, processing, manufacturing, encapsulation,
production, sale, supply, removal distributing (and/or) storage or use of asbestos, asbestos products and/or
products containing asbestos;

b) disposal of asbestos and waste containing asbestos.

However, this exclusion does not apply to bodily injury due to a substance containing asbestos where the
cause of the bodily injury is unrelated to the presence of asbestos.

46. War exclusion: This policy does not provide cover for cost and expenses and does not cover and excludes any loss
or damage directly or indirectly occasioned by, happening through or in consequence of war, invasion, acts of
foreign enemies, hostilities or war-like operations (whether war be declared or not), civil war, mutiny, civil
commotion assuming the proportions of or amounting to a popular rising, military rising, insurrection, rebellion,
revolution, military or usurped power, martial law, confiscation or nationalization or requisition or destruction of
or damage to property by or under the order of any government or public or local authority.

47. Exclusion regarding Contractual Penalties

48. Exclusion regarding Marine liability including ship-owners liability, marine Protection and Indemnity (P&I),
International Carriage of Goods by Road (CMR).

49. Tobacco products exclusion: This policy does not provide cover for cost and expenses and does not cover and
excludes any liability claim, suit, demand or judgement based upon alleging the contraction, aggravation or
exacerbation of carcinoma or to any health hazards as a result of consumption (actively or passively) or use of
tobacco products, manufactured, sold, handled or distributed by any insured

50. Aviation and/or space liability, airport control tower liability and airside exposures, aviation product liability exclusion:
This policy does not provide cover for cost and expenses and does not cover and excludes any

1. Aviation and/or space liability, airport control tower liability and airside exposures.
Airside exposures are defined as risks which are directly related to landing/departure of airplanes, with the
provision that this exclusion does not concern construction companies, baggage handling, cleaning of aircrafts,
catering for airlines, cargo pre-storage when conducting business at the airport.

2. Loss or damage directly or indirectly related to the manufacture, construction, technical maintenance,
installation and/or repair of all air or space vehicles and all components which, to the Insured’s knowledge,
have been specifically designed or made according to aviation standards for installation in aeronautical or space
equipment and which are directly relevant to their security, operation or flight.
Aircraft components: aircraft fuselage, wings and all structural parts, landing gears, tires, engines and engine
components, propulsion units, propellers, fuel systems, electronic and electrical equipment, hydraulic
equipment, aircraft and control panel instruments. This exclusion does not apply to components which form
part of the above mentioned aircraft components or components which were originally not intended to be part
of an aircraft.

Disputes and complaints handling

The Insurer will make every effort to ensure that the Policyholder or an Insured Person receives a good
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 standard of service. If the Policyholder or an Insured Person is not satisfied with the Insurer’s service he or
she should lodge complaints.

Should any complaint arise with regard to the services or the fulfilment of the insurance contract, we
undertake the obligation to inform our client on the right to submit a complaint in writing to the General
Manager of Colonnade Insurance S.A. Hungarian Branch Office (hereinafter referred to as the Insurance
Company) via post, e-mail or facsimile (postal address: 153 Pf. , Budapest, H-1426, Hungary, facsimile: +36 1
461499; e-mail address: info@colonnade.hu) and in person or via telephone at the Customer Service of the
Insurance Company during opening hours (address: 99 Váci út, Budapest, H-1139, Hungary; telephone
number: +36 1 4601400).
The Insurance Company shall send its answer in writing to the complainant within 30 (thirty) days of receipt of
the complaint.

In case of the rejection of the complaint or if the 30-day period for the examination of the complaint
prescribed by law as the deadline for response ends abortively, the client not qualifying as a consumer shall
be entitled to challenge the inadmissible decision of Colonnade Insurance S.A. Hungarian Branch Office (99
Váci út, Budapest, H-1139 Hungary) before the court. In this case, the civil action shall be brought before the
competent Hungarian court against Colonnade Insurance S.A. Hungarian Branch Office (99 Váci út, Budapest,
H-1139, Hungary).
The Complaints Regulation of the insurer is available at the Customer Service of the Insurance Company and
on the http://www.colonnade.hu website.

Information on professional secrecy and personal data management

Insurance secret shall mean all data - other than classified information - in the possession of insurance
companies, reinsurance companies and insurance intermediaries that pertain to the personal circumstances
and financial situations (or business affairs) of their clients (including claimants), and the contracts of clients
with insurance companies and reinsurance companies.

Insurance and reinsurance companies are entitled to process the insurance secrets of clients only to the
extent that they relate to the relevant insurance contract, with its creation and registration, and to the
service. Processing of such data shall take place only to the extent necessary for the conclusion, amendment
and maintenance of the insurance contract and for the evaluation of claims arising from the contract or for
any other purpose specified in the Insurance Act.

Insurance and reinsurance companies shall obtain the data subject’s prior consent for processing data for
purposes other than what is contained in Subsection (1) Section 135 of Act LXXXVIII of 2014 (Insurance Act).
The client shall not suffer any disadvantage if the consent is not granted, nor shall be given any advantage if it
is granted.

Unless otherwise provided for by law, the owners, directors and employees of insurance and reinsurance
companies, and all other persons having access to insurance secrets in any way during their activities in
insurance-related matters shall be subject to the obligation of professional secrecy without any time
limitation.

According to the Act on the Processing and Protection of Personal Data in the Field of Medicine (hereinafter
referred to as “PDFM”), insurance companies shall be authorized to process any data pertaining to the
medical condition of clients only for those 3 reasons set out in Subsection (1) of Section 135 of the Insurance
Act, in accordance with the provisions of PDFM and only in possession of the express written consent of the
data subject.

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 Insurance secrets may only be disclosed to third parties:
a) under the express prior written consent of the insurance or reinsurance company’s client to whom they
pertain, and this consent shall precisely specify the insurance secrets that may be disclosed;
b) if there is no obligation of professional secrecy under the Insurance Act;
c) if the certification body, including its subcontractor, hired by an insurance or reinsurance company, received
such confidential information in carrying out the certification process.
The requirement of confidentiality concerning insurance secrets shall not apply to:
a) the Authority in exercising its designated functions;
b) the investigating authority and the public prosecutor’s office after ordering the investigation;
c) the court of law in connection with criminal cases, civil actions or non-contentious proceedings, and
administrative actions, including the experts appointed by the court, and the independent court bailiff, the
administrator acting in bankruptcy proceedings, the temporary administrator, extraordinary administrator,
liquidator acting in liquidation proceedings in connection with a case of judicial enforcement, the principal
creditor in debt consolidation procedures of natural persons, the Családi Csődvédelmi Szolgálat (Family
Bankruptcy Protection Service), the family administrator, the court;
d) notaries public, including the experts they have appointed, in connection with probate cases;
e) the tax authority in the cases referred to in Subsection (2); the national security service when acting in an
official capacity,
g) the Gazdasági Versenyhivatal (Hungarian Competition Authority) acting in an official capacity;
h) guardians acting in an official capacity,
i) the government body in charge of the healthcare system in the case defined in Subsection (2) of Section 108
of Act CLIV of 1997 on Health Care;
j) bodies authorized to use secret service means and to conduct covert investigations if the conditions
prescribed in specific other act are provided for;
k) the reinsurer and in case of co-insurance, the insurers underwriting the risk,
l) with respect to data transmitted as governed by law, the bureau of insurance policy records maintaining the
central policy records, the claims registry body operating the central claims history register, furthermore, the
national transport authority and the Central Office for Administrative and Electronic Public Services in respect
of any official affairs related to road traffic management tasks concerning motor vehicles not covered by the
register [while upon receipt of a written request from a body or person referred to in Paragraphs a)-j), n) and
s) of Subsection (1) of Section 138 of the Insurance Act indicating the name of the client or the description of
the insurance contract, the type of data requested and the purpose of and the grounds for requesting data,
with the exception that the bodies or persons referred to in Paragraphs p)-s) are required to indicate only the
type of data requested and the purpose and grounds for requesting it. An indication of the statutory provision
granting authorization for requesting data shall be treated as verification of the purpose and legal grounds.
m) the receiving insurance company with respect to insurance contracts conveyed under a portfolio transfer
arrangement, as provided for by the relevant agreement;
n) with respect to the information required for settlement and for the enforcement of compensation claims, and
also for the conveyance of these among one another, the body operating the Compensation Fund and/or the
Claims Guarantee Fund, the National Bureau, the correspondent, the Information Centre, the Claims
Organization, claims representatives and claims adjustment representatives, or the responsible party if
wishing to access - in exercising the right of self-determination - the particulars of the other vehicle that was
involved in the accident from the accident report for the purpose of settlement;
o) the outsourcing service provider with respect to data supplied under outsourcing contracts; the tax auditor in
respect to data supplied under tax audit agreements [while, upon receipt of a written request from a body or
person referred to in Paragraphs a)-j), n) and s) of Subsection (1) of Section 138 of the Insurance Act indicating
the name of the client or the description of the insurance contract, the type of data requested and the
purpose of and the grounds for requesting data, with the exception that the bodies or persons referred to in
Paragraphs p)-s) are required to indicate only the type of data requested and the purpose and grounds for
requesting it. An indication of the statutory provision granting authorization for requesting data shall be
treated as verification of the purpose and legal grounds.]
OCC-003-2017 13
 p) third-country insurance companies and insurance intermediaries in respect of their branches, if they are able
to satisfy the requirements prescribed by Hungarian law in connection with the management of each datum
and the country in which the third-country insurance company is established has regulations on data
protection that conform to the requirements prescribed by Hungarian law;
q) the commissioner of fundamental rights when acting in an official capacity;
r) the Nemzeti Adatvédelmi és Információszabadság Hatóság (the National Authority for data Protection and
Freedom of Information) when acting in an official capacity.
s) the insurance company in respect of the bonus-malus system and the bonus-malus rating, and the claims
record and the bonus-malus rating in the cases specified in the decree on the detailed rules for the
verification of casualties,
t) the agricultural damage survey body, the agricultural administration body, the agricultural damage
compensation body, and the institution delegated to conduct economic assessments under the supervision of
the ministry directed by the minister in charge of the agricultural sector in respect of insured persons claiming
any aid for the payment of agricultural insurance premiums;
u) the authority maintaining a register of liquidator companies.
upon receipt of a written request from a body or person referred to in Paragraphs a)-j), n) and s) of Section
138 of the Insurance Act indicating the name of the client or the description of the insurance contract, the
type of data requested and the purpose of and the grounds for requesting data, with the exception that the
bodies or persons referred to in Paragraphs p)-s) are required to indicate only the type of data requested and
the purpose and grounds for requesting it. An indication of the statutory provision granting authorization for
requesting data shall be treated as verification of the purpose and legal grounds.

Pursuant to Paragraph e) of Subsection (1) of Section 138 of the Insurance Act, there shall be no
confidentiality obligation concerning insurance secrets in connection with tax matters where the insurance
company is required by law to disclose specific information to the tax authority upon request and/or to
disclose data concerning any payment made under an insurance contract that is subject to tax liability.

The requirement of confidentiality concerning insurance secrets shall not apply to financial institutions
stipulated by the Act on Credit Institutions and Financial Enterprises with regard to an insurance contract
related to any receivable arising out of financial service, provided that the financial institution submits its
request in writing to the insurance company which contains the name of the client or the insurance contract,
all types of data requested, the purpose of the information request and its title.

The disclosure made by the insurance company to the tax authority in compliance with the obligation
prescribed in Sections 43/B-43/C of Act XXXVII of 2013 on International Administrative Cooperation in Matters
of Taxation and Other Compulsory Payments (hereinafter referred to as “IACA”) in accordance with Act XIX of
2014 on the Promulgation of the Agreement between the Government of Hungary and the Government of
the United States of America to Improve International Tax Compliance and to Implement FATCA, and on the
Amendment of Certain Related Acts (hereinafter referred to as “FATCA Act”) shall not be construed as
violation of insurance secrets.
Insurance and reinsurance companies shall be authorized to disclose the personal data of clients in the cases
and to the agencies indicated in Subsections (1) and (6) of Section 138 and in Sections 137, and 140 of the
Insurance Act.

The obligation of insurance secrecy shall apply to the employees of the agencies specified in Subsection (1) of
Section 138 of the Insurance Act beyond the purview of any legal process.

Insurance and reinsurance companies shall be required to supply information forthwith where so requested in
writing by the national security service, the public prosecutor or the investigating authorities under the
prosecutor’s consent if there is any suspicion that an insurance transaction is associated with:
a) misuse of narcotic drugs, illegal possession of new psychoactive substances, acts of terrorism, criminal misuse
OCC-003-2017 14
 of explosives or blasting agents, criminal misuse of firearms and ammunition, money laundering, or any felony
offense committed in criminal conspiracy or within the framework of a criminal organization under Act IV of
1978 in force until 30 June 2013,
b) unlawful drug trafficking, possession of narcotic drugs, inciting substance abuse, aiding in the manufacture or
production of narcotic drugs, illegal possession of new psychoactive substances, acts of terrorism, failure to
report a terrorist act, terrorist financing, criminal misuse of explosives or blasting agents, criminal misuse of
firearms and ammunition, money laundering, or any felony offense committed in criminal conspiracy or
within the framework of a criminal organization under the Criminal Code.

The obligation of confidentiality concerning insurance secrets shall not apply where an insurance or
reinsurance company complies with the obligation of notification prescribed in the Act on the Implementation
of Restrictive Measures Imposed by the European Union Relating to Liquid Assets and Other Financial
Interests.

The disclosure of the group examination report to the dominating member of the financial group during the
supervisory oversight proceedings in the case of group supervision shall not constitute a breach of
confidentiality concerning insurance secrets and trade secrets.

The disclosure of information provided in compliance with Section 164/B shall not be construed a breach of
insurance secrets.

The obligation to keep insurance secrets shall not apply when:

a) a Hungarian law enforcement agency makes a written request for information - that is considered insurance
secret - in order to fulfil the written requests made by a foreign law enforcement agency pursuant to an
international agreement;
b) the national financial intelligence unit makes a written request for information - that is considered insurance
secret - acting within its powers conferred under the Act on the Prevention and Combating of Money
Laundering and Terrorist Financing or in order to fulfil the written requests made by a foreign financial
intelligence unit.

It shall not constitute a violation of insurance secrecy where an insurance or reinsurance company supplies
information to a third-country insurance or reinsurance company or a third-country data processing agency:
a) if the client to whom such information pertains (hereinafter referred to as “data subject”) has given his prior
written consent, or
b) if - in the absence of the data subject’s consent - the data is disclosed within the scope, for the purposes and
on the legal grounds specified by law, and the level of protection available in the third-country satisfies either
of the requirements prescribed in Subsection (2) of Section 8 of Act CXII of 2011 on the Right of Informational
Self-Determination and on Freedom of Information (hereinafter referred to as “Info Act”).

The provisions governing data disclosure within the domestic territory shall be observed when sending data
that is treated as an insurance secret to another Member State.

The following shall not be construed a breach of insurance secrecy:

a) the disclosure of data compilations from which the clients’ personal or business data cannot be identified;
b) in respect of branches, transfer of data for the purpose of supervisory activities to the supervisory authority of
the country where the registered address (main office) of the foreign-registered company is located, if such
transfer is in compliance with the agreement between the Hungarian and the foreign supervisory authorities;
c) disclosure of information, other than personal data, to the minister for legislative purposes and in connection
with the completion of impact assessments;
d) the disclosure of data in order to comply with the provisions contained in the Act on the Supplementary
Supervision of Financial Conglomerates.
OCC-003-2017 15
 (2) Insurance and reinsurance companies may not refuse to disclose the data specified in Subsection (1) of
Section 141 of the Insurance Act on the grounds of protection of insurance secrets.

The personal data indicated in the data transfer records and the data covered by Section 136 of the Insurance
Act, or the data treated as special data under the Info Act shall be deleted, respectively, after five years and
twenty years following the date of disclosure.

The insurance or reinsurance company shall not be authorized to notify the data subject when data is
disclosed pursuant to Paragraphs b), f) and j) of Subsection (1) of Section 138 or Subsection (6) of Section 138
of the Insurance Act.

Insurance and reinsurance companies shall be entitled to process personal data during the life of the
insurance or reinsurance contract or other contractual relation, and as long as any claim can be asserted in
connection with the insurance, reinsurance or contractual relation.

Insurance and reinsurance companies shall be entitled to process personal data relating to any unconcluded
insurance or reinsurance contract as long as any claim can be asserted in connection with the failure of the
contract.
Insurance and reinsurance companies shall be required to delete all personal data relating to their current or
former clients or to any frustrated contract in connection with which the data in question is no longer
required, or the data subject has not given consent, or if it is lacking the legal grounds for processing such
data.
(3) Within the meaning of the Insurance Act, the processing of data related to deceased persons shall be
governed by the statutory provision on the processing of personal data. The rights of a deceased person in
terms of data processing may be exercised by the heir or by the person named as the beneficiary in the
insurance contract.

Trade secrets of insurance companies and reinsurance companies

Insurance and reinsurance companies and their owners, any proposed acquirer of a share in an insurance or
reinsurance company, as well as the senior executives, non-management officers and employees, agents of
insurance or reinsurance companies shall keep any trade secrets made known to them in connection with the
operation of the insurance or reinsurance company confidential without any time limitation.
The obligation of confidentiality prescribed in Section 144 of the Insurance Act shall not apply to the following
in exercising their designated functions:
a) the Authority;
b) the national security service;
c) the Állami Számvevőszék (State Audit Office);
d) the Gazdasági Versenyhivatal (Hungarian Competition Authority);
e) the internal oversight agency tasked by the Government, which controls the legality and propriety of the use
of central budget funds;
f) property administrators;
g) the Információs Központ (Information Center);
h) the agricultural damage survey body, the agricultural damage compensation body, the agricultural
administration body, and the institution delegated to conduct economic assessments under the supervision of
the ministry directed by the minister in charge of the agricultural sector in respect of insured persons claiming
any aid for the payment of agricultural insurance premiums.
The disclosure made by an insurance company to the tax authority in compliance with the obligation
prescribed in Sections 43/B-43/C of the IACA in accordance with the FATCA Act shall not be construed as
violation of trade secrets.
OCC-003-2017 16
 (3) The disclosure of information by the Authority to the European Insurance and Occupational Pensions
Authority (hereinafter referred to as “EIOPA”) as provided for in Regulation (EU) No. 1094/2010 of the
European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority
(European Insurance and Occupational Pensions Authority), amending Decision No. 716/2009/EC and
repealing Commission Decision 2009/79/EC (hereinafter referred to as “Regulation 1094/2010/EU”) shall not
be construed as violation of trade secrets.
The obligation of confidentiality prescribed in Section 144 of the Insurance Act shall not apply to:
a) the investigating authority and the public prosecutor’s office after ordering the investigation;
b) the court of law in connection with criminal cases, civil actions and non-contentious proceedings, and the
judicial review of administrative decisions, including the experts appointed by the court, and the independent
court bailiff in connection with a case of judicial enforcement, and to the court in local government debt
consolidation procedures.
(5) The disclosure of information by the Authority to the minister in charge of the money, capital and
insurance markets on insurance and reinsurance companies, enabling individual identification, for legislative
purposes and in connection with the completion of impact assessments shall not be construed a breach of
trade secrecy.
(6) The disclosure of information by the Information Centre in an official capacity shall not be construed a
breach of trade secrecy.
The person acquiring any trade secrets shall keep them confidential without any time limitation.
By virtue of the obligation of secrecy, no facts, information, know-how or data within the sphere of trade
secrets may be disclosed to third parties beyond the scope defined in the Insurance Act without the consent
of the insurance or reinsurance company, or the client concerned, or used beyond the scope of official
responsibilities.
The person acquiring any trade secrets may not use such for his own benefit or for the benefit of a third
person, whether directly or indirectly, or to cause any disadvantage to the insurance or reinsurance company
affected, or its clients.
In the event of dissolution of an insurance or reinsurance company without succession, the business
documents managed by the insurance or reinsurance company and the documents containing trade secrets
may be used for archival research conducted after sixty years of their origin.
Any information that is declared by the Info Act to be information of public interest or public information, and
as such is rendered subject to disclosure may not be withheld on the grounds of being treated as a trade
secret or insurance secret.
Other matters relating to insurance secrets and trade secrets shall be governed by the relevant provisions of
the Hungarian Civil Code.

Data protection in relation to data exchanges between Insurance Companies

In discharging the obligations delegated by law, or fulfilling their contractual commitments, in order to
provide services in compliance with the relevant legislation or as contracted, and to prevent insurance fraud,
the Insurance Company shall - in order to protect the interest of risk groups of insureds - have the right to
make a request to another insurance company from 1 January, 2015 with respect to data processed by this
insurance company and referred to in Subsections (3)-(5) of Section 149 of the Insurance Act in accordance
with Subsection (1) of Section 135 thereof, taking into account the unique characteristics of insurance
products affected. The request shall contain the information necessary for the identification of the person,
property or right defined therein, it shall specify the type of data requested and the purpose of the request.
Making a request and complying with one shall not be construed a breach of insurance secrecy.
In this context the Insurance Company may request the following data from other insurance companies:
Data listed in Paragraphs a) to e) of Subsection 3 of Section 149 of the Insurance Act relating to the conclusion
and performance of the insurance contracts pertaining to the insurance class stipulated in points 1 and 2 of
Section A of Annex 1 of the Insurance Act;
Data listed in Paragraphs a) to e) of Subsection 4 of Section 149 of the Insurance Act relating to the conclusion
OCC-003-2017 17
 and performance of the insurance contracts pertaining to the insurance class stipulated in points 5, 6, 7, 8, 9,
16, 17 and 18 of Section A of Annex 1 of the Insurance Act; and
Data listed in Paragraphs a) to c) of Subsection 5 of Section 149 of the Insurance Act relating to the conclusion
and performance of the insurance contracts in case of the prior consent of the claimant pertaining to the
insurance class stipulated in points 11, 12, and 13 of Section A of Annex 1 of the Insurance Act.
The requested insurance company shall make available to the requesting Insurance Company the data
requested in due compliance with the law, inside the time limit specified in the request, or failing this, within
fifteen (15) days from the date of receipt of the request.
The requesting Insurance Company shall be allowed to process data obtained through the request for a period
of ninety (90) days from the date of receipt. If the data obtained by the requesting Insurance Company
through the request is necessary for the enforcement of that Insurance Company’s lawful interest, the time
limit specified above for data processing shall be extended until the enforceable conclusion of the procedure
opened for the enforcement of such claim.
If the data obtained by the requesting Insurance Company through the request for the enforcement of the
insurance company’s lawful interest, and the procedure for the enforcement of such claim is not opened
inside a period of one (1) year after the data is received, such data may be processed for a period of one (1)
year from the date of receipt. The requesting Insurance Company shall inform the client affected by the
request concerning this request and also if the request is satisfied, on the data to which it pertains, at least
once during the period of insurance cover.
If the client asks for information regarding his data in accordance with the Info Act and the requesting
insurance company no longer has the data to which the request pertains having regard to Subsections 8-10 of
Section 149 of the Insurance Act, the client shall be informed thereof.
The requesting Insurance Company shall not be allowed to connect the data obtained through the request
relating to an interest insured, with data it has obtained or processed, for purposes other than the above. The
requested insurance company shall be responsible for the correctness and relevance of the data indicated in
the request.”

Information on handling of personal data

Data controller: Colonnade Insurance S.A.
Contact details of the data protection officer:
email: dpo@colonnade.hu, Phone number: (06-1) 460-1400,
Mailing address: 1442 Budapest, Pf.:101

Categories of processed data:

personal data: any information relating to an identified or identifiable natural person (‘data subject’); an
identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an
identifier such as a name, place and time of birth, an identification number, address, an online identifier
special data: medical data

Purpose of data processing

The Insurance Company has the right to process confidential insurance information of clients in relation to
the insurance contract, its establishment, its registry and the service provided. Processing of such data shall
take place only to the extent necessary for the conclusion, amendment and maintenance of the insurance
contract and for the evaluation of claims arising from the contract or for any other purpose specified in the
Act LXXXVIII of 2014.
Data processing purposes include ensuring to comply with restrictive economic measures and anti-money
laundering and terrorist financing obligations imposed by the United Nations, the European Union, or other
relevant organisations. The Insurance Company shall transfer personal data (name) to its data processors
residing in the United States according to the adequacy decision by the Commission and according to the
Privacy Shield Framework.
OCC-003-2017 18
 Contracts established online via colonnade.hu are subject to the Act XXV of 2005 and to the Act CVIII of 2001,
thus the purpose of data processing includes proving the compliance with the obligation to provide consumer
information; proving the establishment of the contract; establishing, modifying and monitoring the fulfilment
of a service provisioning contract in relation to the information society; billing for the services provided under
the contract; and enforcing the related claims.
The Insurance Company’s data processing is either based on the establishment of the contract, or on the
voluntary consent made by the client during the submission of claims, service requests, information requests
regarding the contract. If transferring the medical data of a client outside the European Union is necessary in
order to protect the vital interests of the data subject regarding a travel insurance contract, the Insurance
Company shall inform the data subject of the transfer.
The Insurance Company processes personal data obtained during complaint handling to comply with the Act
LXXXVIII of 2014, Section 159, and keeps a record of its clients’ complaints, and of actions taken to remedy
these complaints. The Insurance Company’s data processing is based on this provision of the Act LXXXVIII of
2014.
According to the above cited paragraph of the Act LXXVIII of 2014, if the complaints are handled by
telephone, the Insurance Company shall record the conversation between the Insurance Company and the
client.

Period of data processing

Insurance company shall be entitled to process personal data - medical data – concerning insurance secrets
during the life of the insurance contract, and other contractual relation, as long as any claim can be asserted
in connection with the contractual relation. Insurance company shall be entitled to process personal data
relating to any unconcluded insurance contract as long as any claim can be asserted in connection with the
failure of the contract. According to the Act C of 2000 on accounting Section 169, the accounting records in
relation to the establishment of the insurance contract, its registry and the insurance services are retained by
the Insurance Company for eight years.
The Insurance Company handles the information received from other insurance companies during data
exchanges with the conditions and within the time periods set out in the “Data protection in relation to data
exchanges between insurance companies” section.
During complaint handling, the sound recordings are retained by the Insurance Company for five years. The
Insurance Company retains the complaint and the reply provided for a period of five years, and shall make
them available at the request of the authorities.

Legal basis for data processing

The legal bases of data processing in relation to handling insurance contracts, registering insurance contracts,
and telephone customer services are the followings: the consent of the data subjects; the Act LXXXVIII of
2014 Section 135; the Act C of 2000 Section 169. In case of online contracting or contracting via telephone,
the legal bases of data processing are the Act XXV of 2005 Section 2 and the Act CVIII of 2001, Section 13/A.
Data in relation to a client’s health condition shall only be processed with the expressed written consent of
the data subject, in accordance with the Act XLVII of 1997.
The legal basis for data processing in relation to customer complaints is the Act LXXXVIII of 2014 Section 159.
In case of restrictive economic measures (embargo) imposed by the United Nations, the European Union, or
other relevant organisations, the legal basis for data processing is the legitimate interest of the Insurance
Company and the compliance with its legal obligation.

OCC-003-2017 19
The data subject rights and exercising these rights

The data subjects’ rights include the followings:

a) The client has the right to request access from the controller regarding his/her personal data;
b) The client has the right to request the rectification of inaccurate personal data or to have incomplete
personal data completed;
c) The client has the right to request from the controller the erasure of personal data or the restriction of
processing his/her data;
d) The client has the right to object to the processing of personal data;
e) The client has the right to lodge a complaint with a supervisory authority (NAIH);
f) The client has the right to data portability; and
g) The client has the right to prohibit the usage of personal data for direct marketing purposes.

a) Upon the request of the client, the Insurance Company shall provide information in writing on any and all
Personal Data of him/her within 15 days about the followings:
− the source and categories of personal data;
− the purposes and legal bases of data processing;
− where possible, the envisaged period for which the personal data will be stored, or, if not possible, the
criteria used to determine that period;
− the recipients or categories of recipient to whom the personal data have been or will be disclosed;
− the name and address of the Data controller, and the issues relating to processing.

The Insurance Company shall provide these information free of charge, if the client (natural person) has not
submited a request on the same data within the scope in the same year. In other cases, a reasonable fee can
be charged taking into account the administrative costs of providing the requested information.

In addition to this, at the client’s request the copy of the personal data shall be made available.
b) If a data concerned is inaccurate, the client shall have the right to request and have it promptly updated.
c) The Insurance Company erase the personal data without undue delay if one of the following grounds applies:
− the personal data are no longer necessary in relation to the purposes for which they were collected; or
− the data subject withdraws consent, and there is no other legal ground for the processing;
unless, the data is for the establishment, exercise or defence of legal claims, or for compliance with a legal
obligation.

The Insurance Company erase the personal data without undue delay for compliance with a legal obligation to
which the controller is subject, or if the personal data have been collected in relation to the offer of
information society services referred to the Act CVIII of 2001 section 8 paragraph 1.
The client shall have the right to obtain restriction of processing from the controller where one of the following
applies:
− the accuracy of the personal data is contested by the client, in that case restriction applies for a period
enabling Controller to verify the accuracy of the personal data concerned;
− the processing is unlawful, and the data subject opposes the erasure of the personal data and requests the
restriction of their use instead;
− the controller no longer needs the personal data for the purposes of the processing, but they are required by
the data subject for the establishment, exercise or defence of legal claims;
− the data subject has objected to processing pursuant to Article 21(1) pending the verification whether the
legitimate grounds of the controller override those of the data subject;
− the data subject has objected to processing, in that case restriction applies for the period during which it is
verified whether the legitimate grounds of controller may override those of the client.

OCC-003-2017 20
 Where processing has been restricted, such personal data shall be processed with the data subject's consent
or for the establishment, exercise or defence of legal claims or for the protection of the rights of another
natural or legal person or for reasons of important public interest of the Union or of a Member State. A data
subject who has obtained restriction of processing pursuant shall be informed by the controller before the
restriction of processing is lifted.

d) If the processing is necessary for the purposes of the legitimate interests pursued by the controller or by a
third party, the data subject shall have the right to object, on grounds relating to his or her particular
situation, at any time to processing of personal data concerning him or her, including profiling based on those
provisions.

The controller shall no longer process the personal data unless the controller demonstrates compelling
legitimate grounds for the processing which override the interests, rights and freedoms of the data subject or
for the establishment, exercise or defence of legal claims. The Insurance Company examine the claim within
15 days and if it finds it a reasoned objection, the Company shall inform the Client about the decision in
writing.
Should any complaint arise regarding the processing of the personal data, we undertake the obligation to
inform our client on the right to object or submit a complaint orally (in person, by telephone) or in writing to
the Data controller of Colonnade Insurance S.A. (email: dpo@colonnade.hu, Mailing address: 1442 Budapest,
Pf.: 101)

e) The client shall have the right to lodge a complaint before the supervisory authority (NAIH; H - 1125
Budapest, Szilágyi Erzsébet fasor 22/c.; Mailing address: 1530 Budapest, Pf. 5.; Phone number: (+36) 1 391
1400, Fax: (+36) 1 391 1410, E-mail: ugyfelszolgalat@naih.hu, Web: naih.hu) about the handling his or her
complaint or objection relating to the personal data carried out by Controller, or if the client finds any
violation relating to the processing of the personal data or an immediate risk of that.

The client shall have the right to submit the claim to the Court. Cases related to data protection fall within the
scope of regional courts. Litigation depending from the plaintiff’s choice may be initiated before the regional
court competent for the plaintiff’s permanent or habitual residence.

f) The data subject shall have the right to receive the personal data concerning him or her, which he or she
has provided to a controller, in a structured, commonly used and machine-readable format and have the
right to transmit those data to another controller without hindrance from the controller to which the
personal data have been provided. The client shall have the right to have the personal data transmitted
directly from one controller to another, where technically feasible.

Further data processing activity

If the Insurance Company shall provide information to the Authority specified in Section 138, Bit having
regard to the personal data, the Insurance Company shall inform the data subject about the recipient and the
grounds of the data. The Insurance company shall not be authorized to notify the data subject when data is
disclosed pursuant to Paragraphs b), f) and j) of Subsection (1) of Section 138 or Subsection (6) of Section
138, Bit.

Controller shall only provide the requested data in case the actual purpose and the datasets concerned are
clearly indicated by the authority, and shall only provide data that is strictly necessary for fulfilling the
purpose of the request.

OCC-003-2017 21
Notification of a Personal Data Breach to the Supervisory Authority, Communication to the Data Subject

In the case of a personal data breach, Controller shall without undue delay and, where feasible, not later than
72 hours after having become aware of it, notify the personal data breach to the competent supervisory
authority, unless the personal data breach is unlikely to result in a risk to the rights and freedoms of natural
persons. Controller records any personal data breaches, comprising the facts relating to the personal data
breach, its effects and the remedial actions taken.

Controller shall communicate the personal data breach to the data subjects without undue delay if the
personal data breach is likely to result in a high risk to the rights and freedoms of the concerned data
subjects.

In addition to the above, Controller takes every possible measure to avert the personal data breach in the
most efficient way and to ensure the protection of personal data at the highest level.

Other provisions

The contact and information between the Insurer and Insured Person occurs in Hungarian, and information
shall be made available free of charge. The insurance company does not provide advice about the insurance
products sold.

The insurance contract concluded on the basis of the present regulation should only be amended in writing.
This rule applies to the case if the Policyholder and/or the Insurer wish to deviate from the insurance terms
and conditions.

Please find the annual report covering their financial situation and solvency on our website:
w.colonnade.hu/rolunk.

OCC-003-2017 22
 Chapter I.
GENERAL PUBLIC LIABILITY INSURANCE
The Insured event (Occurrence)

1) For the purpose of this general public liability insurance, insured event (occurrence) shall be the emergence of
the legal liability of the Insured, resulting from an incidental, unexpected (accidental) cause,

- whereby the Insured of the present policy indicated on the Policy Schedule
- in his capacity (occupancy) indicated on the Policy Schedule
- liable, under the provisions of Hungarian law or pursuant to the law indicated as "jurisdiction" on
the Policy Schedule

to pay a compensation to a third party on the basis of tort liability.

2) On the basis of this liability insurance the Insured may claim for being exempted, to the extent determined in
the policy, by the Company from compensation of losses he is legally liable for, pursuant to the relevant
legislation.

3) For the purpose of this insurance series of losses are construed to be one event. Series of loss is when losses
arose from identical damaging behavior and reason, identical reason applies even if the loss occurred at
different dates, provided that there is a causal relation between the losses in both formal and material sense.

4) Third party is a person who has no contractual relationship to the Insured in the capacity of an
entrepreneur, or, if there is such relation, the compensation obligation is not linked to the fulfillment of
such contract or with the breaching of the main or affiliated commitments thereof. Close family members
as listed in section 8:1 (1) 1 of the Law V. of 2013 on the Hungarian Civil Code, owners of the insured,
organizations owned by the Insured or the Insured’s owner shall not be considered third parties.

Scope of Coverage

5) The Company assumes liability in respect of sums for which the Insured shall become legally liable in respect of
(and in the capacity as described in Article 1 of this Chapter)
- personal injury (death, bodily injury, disability) or
- property damage (destruction, damage, depreciation)
in the territory of Hungary (or in case of territorial extension in countri(es) indicated as "policy territory" on
the Policy Schedule).

6) The cover is extended to all legal liabilities of the Insured (up to the amount of the limit of liability shown on
the Policy Schedule) in respect of losses, costs, lost profit and lost income related to Bodily Injury and
Property Damage and infringement premium (pain and suffering) related to Bodily Injury.

- property damage,
- cost and expenses occasioned in consequence of personal injury and property damage, loss of profit or
income,
- incorporeal losses, "pain and suffering" (subject to General Conditions of Entrepreneurs'
Comprehensive Liability Insurance)

OCC-003-2017 23
 requested by the claimant or his/her legal successors or persons legally obliged to provide alimony for
the claimant, or by the Social Security.

The Insurer furthermore reimburses:

a) all legal costs and expenses incurred by the Insured with the prior written consent of the Insurer in
the defense of any claim suit or proceedings against the Insured arising out of an Occurrence which
may be subject of indemnity under this policy,

b) claimants' legal costs and expenses which the Insured becomes legally obligated to pay insofar as such
costs and expenses relate to an Occurrence the subject of indemnity under this policy (provided
the Insurer was involved into such suit or proceedings).

All above costs shall be considered as part of the loss and shall be within the limit pursuant to the Policy
Schedule.

Claim Notification

7) The Insured is obliged to report claims to the Company within 30 (thirty) days of being aware of it, and to
enclose the documents and information listed by the Annex of Chapter I. to the claim notification.

Exclusions

8.) This policy excludes all liability for the following:

a) Any liability arising out of the discharge dispersal release or escape of smoke vapours soot fumes acids alkalis
toxic chemicals liquids or gases waste materials or other irritants contaminants or pollutants into or upon land
the atmosphere or any watercourse or body of water.

Furthermore, expenses for prevention of any contamination or pollution shall also form part of this exception
and shall not be recoverable under this policy.

b) Any claims against the Insured in his/her capacity as an employer.

c) Any claims arising in connection with the products manufactured or services provided by the Insured or
any default of them.

d) Any losses to the subject of services rendered or to products being processed during the performance of
such services, or losses to other property arising out of a default in services rendered.

e) Any losses to properties of third parties in the care custody and control of the Insured for which the Insured
is legally liable.

f) Any losses due to slow, gradual wear in consequence of noise, vibration, smell, corrosion, mould.

g) Any loss of or damage to any property located on a vehicle, power machine or trailer and any claims caused by
crane.

h) Damages to the cover of public roads and road signs.

OCC-003-2017 24
 i) Damages to artificial landmarks (trench, buttress, road, rail, etc.) by weight, pressure, move of vans and vehicles
and its trailer, or the stamp of soil or crops.

j) Any claims caused by a vehicle, watercraft or aircraft operated by the Insured

k) Any loss of, damage to or destruction of securities, money, precious metal, jewellery.

l) Any penalty for delay, fee and similar costs and pure financial losses.

m) Any liability claims arising out of the negligence, error, failure, omission, carelessness or mistake to render any
professional service by or for the Insured, including but not limited to the execution or preparation of plans,
maps, official opinions, reports, surveys, projects, orders and stipulations.

n) Any liability arising out of or contributed to by any complete or partial failure to supply electricity, gas, water,
steam, oil or other services

o) Losses occured in connection with producing, distibution, transfer, maintenance or usage of magnetic
or electromagneic radiation, waves or fields.

p) Damages caused by construction or erection works done by the Insured

q) This Policy excludes all liability howsoever caused arising through exposure to Legionnaires Disease.
“Legionnaire’s Disease shall mean an acute bacterial respiratory illness caused by the gram-negative
bacterium Legionella pneumophilia which shall include the mutants derivatives or variations thereof.

r) Any direct or consequential losses in connection with Anthracosis. Anthracosis is the illness caused by
suffocation of coal powders.

ANNEX 1 to the General Public Liability Insurance:

On documents and other means of proof that are required for the settlement of claim

In case of a claim the following documents shall be provided to the Company (hereafter Insurer) mutatis mutandis:

• Completed and duly signed claim request form;

• Photo about the damaged property;
• Denunciation, Decision about closing, suspending the procedure or refusing the investigation, if applicable;
• Minutes of the internal investigation, if applicable;
• If the person/entity responsible for the damage was identifiable, the data of such person/entity, the letter containing
the claim against them and the response received from them;
• Submissions, Minutes, Resolutions, etc. in the court proceeding (if any);
• Documents prepared by the expert (technical) witness about the damage;
• Expert report about the repairability;
• In case of repairability, the price offer, and the invoice upon approval;
• Invoices about the purchase;
• Record about the date of damage;
• Document certifying the ownership of the damaged property (in case of vehicles: vehicles registration card and the
OCC-003-2017 25
 copy of automobile registration);
• Asset disposal;
• Destruction report, documents certifying the destruction;
• Statement containing bank data, as well as a declaration that the claimant has not received any amount payable for
the damage on the basis of any other insurance policy;
• Consent of the Assignee to pay by the Insurer directly to the insured;
• Certfication of the residual value;

In case a certain document is not available to the Insurer, or the enclosed documents are in contradiction or may
raise further issues that need clarification, the Insurer reserves the right to request other documents, information or
means of proof that are not listed above.

Please also note that the above list was prepared on the basis of the Insurer’s claim experiences, typical damages and
claims. Therefore, in case an exceptional or untypical damage/claim will occur that can be evidenced only by enclosing
additional or other documents/means of proof that vary from the aboves, the Insurer also reserves the right to request
the aforementioned documents.
In such cases the Insurer undertakes to inform the insured/claimant or their representatives about the
requested documents or means of proof within 8 days from the claim notification.

OCC-003-2017 26
 Chapter II.

PRODUCT LIABILITY

1. Insuring Agreement

On the basis of the General Insurance Terms and Conditions, General Conditions of Entrepreneurs'
Comprehensive Liability Insurance, and furthermore on the basis of the special terms and conditions of
this present agreement, the AIG Europe Limited Branch Office in Hungary, (hereinafter: the Insurer)
agrees to indemnify the Insured against:

(a) damages the Insured shall become legally liable to pay for Bodily Injury and Property Damage resulting
from an Occurrence

- arising from and in the course of the Business of the Insured and caused by products imported,
exported, distributed or manufactured by the Insured
- occurring in the countries designated as "Policy Territory" on the Schedule

for which the Insured is legally liable according to Hungarian law or pursuant to the law(s) indicated as
"jurisdiction" on the Schedule.

(b) (i) all legal costs and expenses incurred by the Insured with the prior written consent of the
Company in the defense of any claim suit or proceedings against the Insured arising out of such
an Occurrence which may be the subject of indemnity under this policy.

(ii) claimants' legal costs and expenses which the Insured becomes legally obligated to pay insofar
as such costs and expenses relate to an Occurrence the subject of indemnity under this Policy.

(c) Indemnity payable for infringement premium (pain and suffering) resulting from Bodily Injury stipulated
in para. (a).

All costs and expenses as described in subparagraph (b) (i);(ii) above shall be within the Limits of Indemnity
pursuant to the Schedule.

2. The conclusion and inception of the insurance contract

The insurance contract shall be concluded in writing on the basis of the Products Liability Proposal Form
previously filled out by the Insured.

This policy covers losses which were caused, occurred and for which claims are made against the
Insured during thr policy period.

3. Definitions

(a) Insured: Natural or legal entities specified in the Schedule who are engaged in the
manufacture, import, export or distribution of the Insured Products or
indicated as the producers of such products by labels, trade marks, or other
are
special markings.

OCC-003-2017 27
 (b) Insured Products: - End products, parts or raw materials produced or manufactured,
imported/exported or distributed by the Insured
- Products imported by the Insured to Hungary, or products exported
to another country
- Products directly or indirectly distributed or sold by the Insured

defined on the Schedule as Individual Products or Group of Products.

(c) Individual products: Products individually identified by type or category on the Policy Schedule.

(d) Group of products: Products with similar characteristics and similar end uses that are the result of
a similar technological procedure which are identified on the Schedule as a
group.
(e) Other products: - raw materials used for the manufacture of other products
excluding materials produced by agricultural activities;
- electric energy.

(f) Occurrence: Occurrence shall mean but is not limited to an accident and includes
continuous or repeated injurious exposure to substantially the same
general conditions which results in Bodily Injury or Property Damage neither
expected nor intended from the standpoint of the Insured during the Policy
Period as stated in the Schedule.

4. Territory

This insurance covers damages occurred and reported in Hungary or in the case of foreign countries anywhere in
the world - provided the claim against the Insured is made and the proceedings for Damages are brought in a
country other than specified below in the Specification of Excluded Territories.

SPECIFICATION OF EXCLUDED TERRITORIES

(i) United States of America and its territories and possessions, Canada, Puerto Rico Cuba Iraq
Kampuchea North Korea Vietnam and Libya.

(ii) Territorial waters and air space of the countries listed in section (i) above.

(iii) International waters or air space where the Bodily Injury and / or Property Damage occurs in
the course of travel or transportation which is both to and from any country or place
described in section (i) or (ii) above.

5. Exclusions

The following are excluded from cover:

1. damages caused by circumstances of which the Insured was or may have been previously aware, yet
failed to do his utmost in order to avoid such damages

2. damages arising out of obligations assumed in another contract or contractual obligations that are
stricter than the existing legal liability

OCC-003-2017 28
 3. bodily injury and/or property damage to the Insured's employees within the scope of Employer's Liability

4. Damages to property owned by the Insured

5. Damages to property in the care, custody or control of the Insured

6. Damages arising during testing period as a result of activities supervised, controlled or managed by the
Insured

7. Damages directly or indirectly caused by or in connection with any errors in the operating instructions
of the given product

8. Damages arising out of the labelling, packing or repacking the insured's product

9. Damages in the product itself, including parts or accessories thereof, including damages to the packing
of the product

10. Losses occured in connection with producing, distribution, transfer, maintenance or usage of
magnetic or electromagnetic radiation, waves or fields.

11. fines, duties or other penalties whether or not they are connected to the claim and the pure
financial losses

12. any costs or expenses incurred in the inspection, repair, replacement or recall of the Insured's products

13. damages caused with the consent of the claimant

14. damages indemnifiable under any other insurance or legal regulation

15. expenses incurred in connection with any warranties, guarantees concerning the insured product

16. damages arising out of changing the physical or chemical makeup of the insured products intentionally

17. property damage or bodily injury caused by any of the insured products, which, with the
insured's knowledge, is incorporated into any craft made or intended to be airborne or waterborne

18. damages caused by construction or erection works done by the Insured

19. Liability losses arising as a result of non-performance, defective or partial performance of services

20. damages arising out of pollution to the environment, with special regard to the discharge dispersal
release or escape of smoke vapours soot fumes acids alkalis toxic chemicals liquids or gases waste
materials or other irritants contaminants or pollutants into or upon land the atmosphere or any
watercourse or body of water.

19. Losses caused by drugs and medicaments.

OCC-003-2017 29
 The insurer shall furthermore not be liable to pay damages for the following:

(a) the publication or utterance of a libel or slander made prior to the effective date of this insurance or
made by or at the direction of the insured with knowledge of the falsity thereof or related to
advertising, broadcasting or telecasting activities conducted by or on behalf of the Insured

(b) damages arising out of the professional liability of the insured

(c) damages arising out of the sole negligence of the claimant (or other third parties)

(d) in case of products declared as individual products, coverage shall not apply to damages caused by
products that are significantly different from the declared product, or were produced as the result
of significant technological development to the original product

(e) In case of product groups no coverage shall apply if the damage is caused by a product that is not part of
the group, or in case due to fundamental technological development, the product significantly differs
from the rest of the group

Coverage provided hereby may be extended to cover such individual or group products for an additional
premium. In such cases, the extended coverage shall attach on the date of the relevant endorsement
regardless of the original inception date of the insurance contract.

6. Subrogation

A) Against the insured

The Company may demand from the Insured the repayment of indemnity already paid in case the Insured caused
such damages illegally, out of gross negligence, willful intent or to gain by the damage.

The Company may demand from the Insured the repayment of indemnity already paid in case the Insured
failed to comply with the prevailing regulations, did not obtain the necessary permits and licences for the
sale/distribution of the product or failed to comply with market recall orders of the authorities and the damage
occurred as a result.

B) Against third party

The Insured shall provide the Company with the necessary proofs and all the information and efforts in his
power to ensure that the Company may exercise its rights of subrogation. The consequences of failing to
comply with this rule shall be borne by the Insured.

OCC-003-2017 30
7. Duties of the Insured

The insured is obliged to inform the Company to the best of his knowledge of all relevant facts and
circumstances pertaining to the assessment of the given risk.

8. Premium payment

The insurance premium is calculated by multiplying the total turnover and the rate.

The basis of the premium shall be the full value of the products that are manufactured, distributed imported
or exported by the Insured and are covered by this contract.

The insured shall provide the Company with the relevant turnover figures prior to inception, on the proposal form.

9. Loss prevention, mitigation

The Insured is obliged to observe and adhere to all legal regulations, the instruction by the relevant
superior authorities concerning and the special regulations of the Company concerning the manufacture of the
product.

The Company or its representative shall have the right to inspect the premises and check the production and
the observation of rules concerning the production/distribution of the Insured product.

ANNEX 1 to the Product Liability Insurance:

On documents and other means of proof that are required for the settlement of claim

In case of a claim the following documents shall be provided to the Company (hereafter Insurer) mutatis mutandis:

• Certificate of damage (Damage report);

• Certification of producing, distributing and importing the insured product;
• Contracts and other agreements (or the certifying documents) that were concluded with a party registered in
another country;
• User’s instructions of the product;
• Photo, video recording about the damage (if such exists);
• Certification of the product’s marketing authorization;
• Record of the damage in the product, personal injury or damage in other products or properties which is due to
product’s deficiency;
• Copy of the correspondence about the damage;
• Submissions, Minutes, Resolutions, etc. in court proceedings (if any);
• Documents prepared by the expert (technical) witness about the damage;
• Expert report about the repairability;
• In case of repairability, the price offer, and the invoice upon approval;
• Statement containing bank data, as well as a declaration that the claimant has not received any amount payable for
the damage on the basis of any other insurance policy;
• Copy of delivery reports, invoices;
• Quality certifications;
• Copy of client/consumer complaints;
OCC-003-2017 31
• Results of the external laboratory examinations;
• Sorting report;
• Standards and presciptions of the product;
• Requirements and documents regarding the quality control during the production;
• Product specifications;
• Asset disposal;
• Destruction report, documents certifying the destruction
• Certification of the residual value;
• Sale and purchase agreement of the production equipment;
• Copy of the documents containing the warranty and other maintenance conditions of the production equipment, copy
of the instruction manual;
• Registration sheet of accessories of the product equipment;
• Installation report of the product equipment;
• Repair and maintenance documentation of the product equipment;
• Capacity data of the product equipment;
• Description of the product’s manufacturing process (with diagram), including the illustration of the quality control points;
• Production data of the product equipment for a month preceding the detection of the problem;
• Volume report of the product concerned (production data)

In case a certain document is not available to the Insurer, or the enclosed documents are in contradiction or may
raise further issues that need clarification, the Insurer reserves the right to request other documents, information or
means of proof that are not listed above.

Please also note that the above list was prepared on the basis of the Insurer’s claim experiences, typical damages and
claims. Therefore, in case an exceptional or untypical damage/claim will occur that can be evidenced only by enclosing
additional or other documents/means of proof that vary from the aboves, the Insurer also reserves the right to request
the aforementioned documents.
In such cases the Insurer undertakes to inform the insured/claimant or their representatives about the
requested documents or means of proof within 8 days from the claim notification.

OCC-003-2017 32
 Chapter III.

EMPLOYERS' LIABILITY INSURANCE

The comprehensive liability insurance cover of the Insured shall be endorsed as follows:

The Occurrence

1) Under Employers’ Liability Insurance the Company agrees to indemnify the Insured against claims made on the
basis of workers accident, including property damages connected with the workers accident for which the
Insured in his quality of an employer operating the activity mentioned in the insurance contract can be held
liable.

Policy Territory

2) This liability insurance covers personal accident at work within the territorial scope of Hungary (and in case
of international extension the countries mentioned under “territorial scope”).

Indemnification

3) Unless otherwise indicated in the Schedule, there are no constraints as per the number of events per policy year,
however the Insurer's total liability shall not exceed the per occurrence and the aggregate limit of indemnity
stated on the Schedule.

4) The Insurer shall indemnify for damage caused to clothing and other personal belongings of the Claimant,
provided that the employees usually wear or carry the damaged property to their work site. Above sum shall
form part of the limits indicated on the Schedule.

Basis of Premium Calculation

5) Basis of premium calculation is the total annual gross payroll and/or the number of employees.

Exclusions

6) The Insurer shall not indemnify for:

a) any accident at work which is covered by other any other insurance;

b) accidents at work caused by an automobile if they fall under the scope of compulsory motor
vehicle liability insurance;

c) any liability arising out of occupational disease;

d) losses that do not qualify as occupational disease but arise out of occupational hazards at work;

e) losses based on a contract or a unilateral statement by the Insured in which he assumes stricter
liability than is stipulated by law;
OCC-003-2017 33
 f) loss or damage in cash, securities, valuables and vehicles.

g) any direct or consequential loss related in any way to Legionnaires Disease. Legionnaires Disease is an
acute pneumonic disease caused by Legionella pneumophila bacteria or variants or mutations.

g) Any direct or consequential losses in connection with Anthracosis. Anthracosis is the illness caused by
suffocation of coal powders.

Definitions

7) Occupational disease: acute or chronic health damages occurring during or after working,

a) that is connected to a physical, chemical, biologic, psychosocial or ergonomic reason arising during
performing the work or exercising the profession;

b) that is the consequence of a larger or lesser than optimal workload on the worker.

Obligations of the insured

8) Prior to concluding the insurance the Insured is obliged to provide written information to the Insurer, about
the number of employees (workers, members, representatives, etc.), payroll by occupation and statistical
about any accidents at work that occurred within 3 years preceding the conclusion of insurance.

Recovery Right of the Insurer

9) In addition to those cases described in the General Insurance Terms and Conditions, the Insurer shall have the
right to reclaim from the Insured the indemnity paid, if:

a) the accident at work occurred repeatedly as a consequence of a failure to observe the same safety
regulations;

b) the possibility of the occurrence was brought to the attention of the Insured by the collective or
an employee (employed member, etc.), and the accident at work occurred in the absence of the
necessary preventive measures;

c) according to a court decision or other regulatory resolution the accident at work occurred as a
consequence of the serious violations of the safety regulations or the court or the regulator imposed a
fine higher than 1 million HUF connected to the work accident in a binding

Cooperation between the Parties

10) The Insurer shall have the right to participate in, make statements; proposals during the proceedings
conducted by a labor or cooperative arbitration and shall have the right to represent the Insured in court
proceedings. The Insurer, however, shall have no duty to defend.

11) The Insured is obliged to make it possible for the experts of the Insurer to examine the conditions under which
the accident at work occurred.

12) The claim notification of the Insured/Policy Holder shall contain documents and information listed in Annex 1
of this Chapter.
OCC-003-2017 34
ANNEX 1 to the Employers Liability Insurance:
On documents and other means of proof that are required for the settlement of claim

In case of a claim the following documents shall be provided to the Company (hereafter Insurer) mutatis mutandis:

• Completed and duly signed claim request form;

• Record of work accident (including the type of coverage and the policy number);
• Full medical documentation of treating personal injury; Documents of sick benefit payments;
• Certification of certain claims (such as cost of medications, travel cost, loss of income, etc.);
• Outcome or decision of other official investigation (such as Fire Prevention Authority, National Health Insurance
Fund, etc.);
• In case of personal injury, the certification of the injured employee;
• Certification of relationship with the relatives (such as residence card, etc.),
• Certification of income of the claimant;
• If the person/entity responsible for the damage was identifiable, the data of such person/entity, the letter containing
the claim against them and the response received from them;
• Minutes of the internal investigation, if applicable;
• Denunciation, Decision about closing, suspending the procedure or refusing the investigation, if applicable;
• Claim request letter sent by claimant or claimant’s lawyer;
• Submissions, Minutes, Resolutions, etc. in the court proceeding (if any);
• Final court decision in relation to the work accident;

In the event of death:

• Death certificate;
• Medical certificate proving the reason of the death, Autopsy report;
• Certificate of inheritance, Grant of probate;

In case a certain document is not available to the Insurer, or the enclosed documents are in contradiction or may
raise further issues that need clarification, the Insurer reserves the right to request other documents, information or
means of proof that are not listed above.

Please also note that the above list was prepared on the basis of the Insurer’s claim experiences, typical damages and
claims. Therefore, in case an exceptional or untypical damage/claim will occur that can be evidenced only by enclosing
additional or other documents/means of proof that vary from the aboves, the Insurer also reserves the right to request
the aforementioned documents.
In such cases the Insurer undertakes to inform the insured/claimant or their representatives about the
requested documents or means of proof within 8 days from the claim notification.

OCC-003-2017 35