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Chapter Six: Policy Termination

Effective from 22/9/2016
  1. Neither the Company nor the Insured may terminate this Policy during its term as long as the Motor Vehicle license is valid.
     
  2. However, the Policy may be terminated before its expiration on the grounds of:
    1. Cancellation of the Motor Vehicle license;
    2. Submission of a new policy due to change of the Motor Vehicle details; or
    3. Transfer of the Motor Vehicle title by virtue of a certificate issued by the concerned authority.

    In this case, the Company must refund to the Insured the paid premium after deducting a portion in proportion to the period during which the Policy has remained in effect according to the Short Rate Schedule No. (3) set out in this Policy, provided that there are no paid claims or outstanding claims where the Insured has caused the accident.

  3. This Policy shall be considered terminated in case of a total loss to the MotorVehicle, provided that its registration is deleted with a report issued by the Roadand Traffic Department confirming that it is unroadworthy, and the Companyand the Insured shall remain bound by its provisions before termination.