Part 1 Applicable to all parts of this policy
The definitions in this Section 1 shall apply throughout the entire the Policy
- “Cardholder” means a customer of the Policyholder who during the Policy Period holds an Eligible Card, and for these purposes a customer shall only be a Cardholder for the time span during the Policy Period he or she holds such Eligible Card.
- “Eligible Card” means a valid UnionPay Diamond Prestige Credit Card issued by the Policyholder which is billed in Hong Kong. (Note: Issued bank is located Hong Kong, transaction can be overseas)
- “Hong Kong” means the Hong Kong Special Administrative Region of the People’s Republic of China.
- “Insurer” means AIG Insurance Hong Kong Limited.
- “Policy” means, the policy of insurance purchased by the Policyholder from the Insurer for the Cardholders which is documented in the policy agreement between the Policyholder and the Insurer.
- “Policyholder” means the policyholder whose name and address is stated in the Schedule.
- “Policy Period” means the policy period stated in the Schedule.
- General Exclusions
- The exclusions set out in this Section 2 apply to throughout this entire Policy and serve to exclude coverage from this Policy notwithstanding anything stated to the contrary anywhere else in this Policy.
- Fraud exclusion - If in any statement or declaration made in support of any claim under this Policy or if in the information given to the Insurer or designated representative in respect thereof there shall by or on behalf of the Cardholder be any suppression or concealment or any untrue or fraudulent statement or any intentional exaggeration as regards the property lost or damaged or the value or amount thereof or if any loss or damage be occasioned by or through the wilful act or with the knowledge or connivance of the Cardholder or anyone acting on behalf of the Cardholder no claim shall be payable under this Policy.
- Sanctions exclusion - The Insurer will not be liable to provide any coverage or make any payment hereunder if to do so would be in violation of any sanctions law or regulation which would expose the Insurer, its parent company or its ultimate controlling entity to any penalty under any sanctions law or regulation.
- General Conditions
- Coverage for any Cardholder under this Policy shall immediately terminate on the termination date of this Policy or the time a Cardholder ceases to be a Cardholder, whichever is earlier, provided, however that such termination shall be without prejudice to any claim originating prior thereto.
- In no event will duplicate or multiple Eligible Cards obligate the Insurer to pay in excess of the amounts shown in the Schedule of Benefits in the Part for any one loss covered under that Part sustained by any one individual Cardholder as a result of any one incident under this Policy. The maximum amount payable in respect of a loss where duplicate cards are held by any Cardholder will be the highest applicable benefit specified in the Schedule of Benefits in the applicable Part of this Policy to which the loss applies.
- Only the Policyholder, Cardholders and the Insurer may enforce rights given to them under this Policy and save for giving effect to this purpose, The Contracts (Rights of Third Parties) Ordinance is hereby excluded. It is hereby noted and agreed, however that the Policyholder and Insurer in agreement can amend this Policy or exercise any right of termination without the consent of any other parties.
- Governing law and Jurisdiction
- This Policy is governed by and interpreted in accordance to the laws of Hong Kong. Any dispute will be subject to the exclusive jurisdiction of the courts of Hong Kong
- Personal Data
The Insurer may transfer the personal data to the following classes of persons (whether based in Hong Kong or overseas) for the purpose identified:
- third parties providing services related to the administration of this policy, including reinsurers;
- in the event of a claim, loss adjustors, assessors, third party administrators, emergency providers, legal services providers, retailers, medical providers and travel carriers;
- another member of the AIG group (for all of the purposes stated in this clause )in any country; or
PURCHASE PROTECTION INSURANCE
Schedule of Benefits under Part B
Product: Purchase Protection
Period of Coverage: 90 Days
Aggregate limit: HK$50,000
Per occurrence limit:HK$50,000
Product cap: HK$25,000
Limit for Accidental Damage to Screen of Mobile Phone: HK$1,200
PART B – PURCHASE PROTECTION DEFINITIONS
In addition to definitions in the GENERAL TERMS AND CONDITIONS section of this Policy, the following definitions apply to this Part B, wherever they appear in this Part B.
Insured Personal Property means any tangible personal property of the Cardholder the full cost or portion of cost of which has been charged to the Cardholder’s Eligible Card not being property excluded under the Policy.
Occurrence means accident which results in loss of or damage to the Insured Personal Property.
Per Cap means the maximum amount of benefit available under the Purchase Protection Insurance for any single Covered Purchase.
Per Occurrence Limit means the maximum amount of benefit available under the Purchase Protection Insurance for any single incident.
Public Transportation means by air, land or water conveyance which is duly licensed for the regular transportation of fare-paying passengers.
Territorial Limits means worldwide
Theft means the illegal act of taking Insured Personal Property belonging to the Cardholder, without their consent, with intent to deprive him/her of its value.
SECTION 1 – PURCHASE PROTECTION COVERAGE:
- If during the Operative Period any Insured Personal Property shall be Accidentally Damaged or the subject of any Theft occurring within ninety (90) days within the Territorial Limits, the Insurer will indemnify the Cardholder in respect of such damage or theft by payment, or at its option by repair, reinstatement or replacement, after the Deductible and up to the applicable limit stated in the Schedule of Benefits to this Part B. In no way shall the Insurer’s liability to pay any Cardholder under this Part B exceed the Aggregate Limit or per occurrence limit stated in the Schedule of Benefits under this Part B. Where the item of Insured Personal Property is a mobile phone, this Purchase Protection Cover only covers accidental damage to the screen of the mobile phone and the Insurer’s liability for payment shall be capped at the applicable limit stated in the Schedule of Benefits under this Part B (“Limit for Accidental Damage to Screen of Mobile Phone”) and no coverage is provided for either theft of the mobile phone or accidental damage to any part of the mobile phone other than the screen.
- Operative Period: The coverage in this Part B shall apply to purchases made by the Cardholder within the Territorial Limits from the date of purchase until 23.59 hours on the 60 th day thereafter, except for items purchased under a merchandising program in which case cover shall commence from the date of delivery in undamaged condition to the Cardholder and until 23.59 hours on the 60 th day thereafter, provided the entire cost of the purchase has been charged to the Cardholder’s Eligible Card. In the event that only a portion of the purchase price is charged to the Eligible Card, the Insurer shall not be liable to pay more than the corresponding proportionate amount of the loss which the amount charged to the Eligible Card bears to the purchase price.
- Subject to the terms and conditions of this Policy, coverage under this Part B applies to loss of or damage to Insured Personal Property happening during the Policy Period including purchases made by the Insured Person before the inception date of this Policy, but in respect of any Cardholder, coverage under this Part B terminates immediately on the termination date of the Policy provided that such termination shall be without prejudice to any loss or damage happening before the effective date of such termination.
- In no event will duplicate or multiple Eligible Cards obligate the Insurer to insure in excess of the Benefit Limits stated in the Schedule of Benefits to this Part B which apply per Cardholder and not per Eligible Card.
- Valuation: The Insurer will not be liable for more than the purchase price of the Insured Personal Property as recorded on the Eligible Card charge form or the Benefit Limit, whichever is the lower.
SECTION 2 – EXCLUSIONS
a) EXCLUDED PROPERTY
This Part B does not cover any loss or damage to:
- property that is insured under another insurance policy unless its coverage does not extend to cover such loss or damage
- property that is covered under a guarantee or warranty unless the loss or damage is not otherwise covered
- consumables and perishables
- motor vehicles, motor cycles or their motors, equipment and accessories (including communication devices intended solely for use in the vehicle), bicycles, marine craft, aircraft, model airplane and boats
- business property or property purchased to be used for a business purpose
- cash, bank or currency notes, cheques, travellers cheques, money orders, postal orders, postage stamps, securities, negotiable instruments of any kind, bullion, rare or precious coins, documents or tickets of any kind, unset gemstones
- livestock, pets, animals, plants or other living creatures.
b) EXCLUDED CAUSES
This Part B does not cover any loss or damage caused by or arising from:
- mechanical, electrical or electronic breakdown, failure or derangement
- theft from any unattended vehicle unless all windows are securely closed and all doors, boot and openings are securely locked and there is visible sign of break-in
- marring or scratching, denting, chaffing, deterioration, depreciation, alteration, maintenance, any process of cleaning or drying, repairing, renovation, bleaching, dyeing, restoring, or servicing
- leakage, loss of weight, shrinkage, evaporation, bulging, buckling, contamination, insect or vermin, inherent vice, wear and tear, rust, corrosion, mildew, atmospheric or climatic conditions (including wind, rain, hail, sleet, snow, and frost) or any other gradually operating causes
- delay, seizure, confiscation, destruction, requisition, retention or detention by Customs or other Government or Public Authority or Official
- the intentional, deliberate or fraudulent acts of the Cardholder or his representatives, or anyone residing in the same household or to whom the Insured Personal Property has been entrusted
- mysterious disappearance or unexplained losses
- transit by air, vessels or ships, trains or vehicles, or any other modes of Public Transportation unless the Insured Personal Property is hand-carried by the Cardholder during the course of the transit
- product defects, faulty or defective design, material or workmanship, latent defect
- ionising radiation or contamination by radioactivity from any nuclear waste from the combustion of nuclear fuel, or the radioactive toxic explosive or hazardous properties of any nuclear assembly or nuclear component thereof.
- any consequence of war, invasion, act of foreign enemy, hostilities or war like operations (whether war be declared or not), civil war, mutiny, riot, strikes, military or popular uprising, rebellion, revolution, insurrection, military or usurped power, martial law or state of siege or any of the events or causes which determine the proclamation or maintenance of martial law or state of siege
- the Cardholder’s failure to exercise the necessary level of care and attention needed to avoid or diminish such loss or damage to the Insured Personal Property.
- diminution in value or loss of use of the Insured Personal Property or consequential loss of any and every kind.
- in the case of a mobile phone screen, any damage caused by normal wear and tear, fire or an act deliberately intended to break the screen.
c) OTHER EXCLUSIONS
- War And Terrorism Exclusion
- Notwithstanding any provision to the contrary within this Part B, this Part B excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any of the following regardless of any other cause or event contributing concurrently or in any other sequence to the loss;
- war, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, civil commotion assuming the proportions of or amounting to an uprising, military or usurped power; or
- any act of terrorism.
- For the purpose of this exclusion an act of terrorism means an act, including but not limited to the use of force or violence and/ or the threat thereof, of any person of group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/ or to put the public, or any section of the public, in fear. This clause also excludes loss, damage, cost or expense of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to (1) and/ or (2) above. If the Insurer alleges that by reason of this exclusion, any loss, damage, cost or expense is not covered by this Policy the burden of proving the contrary shall be upon the Policyholder/Cardholder. In the event any portion of this exclusion is found to be invalid or unenforceable, the remainder shall remain in full force and effect.
- Industries, Seepage, Pollution And Contamination Exclusion Clause
This Part B does not cover any liability for:
- Personal Injury or Bodily Injury or loss of, damage to, or loss of use of property directly or indirectly caused by seepage, pollution or contamination, provided always that this paragraph 1. shall not apply to liability for loss of or physical damage to or destruction of tangible property, where such seepage, pollution or contamination is caused by a sudden, unintended and unexpected happening during the period of insurance.
- The cost of removing, nullifying or cleaning-up seeping , polluting or contaminating substance unless the seepage, pollution or contamination is caused by a sudden , unintended and unexpected happening during the period of the insurance.
- Fines, penalties, punitive or exemplary damages.
This Clause shall not extend this Part B to cover any liability which would not have been covered under this Policy had this Clause not been attached.
- Property Electronic Data And Internet Exclusion Clause
The Insurer will not pay, under this Part B, for Damage or Consequential loss directly or indirectly caused by, consisting of, or arising from:
- Any functioning or malfunctioning of the internet or similar facility, or of any intranet or private network or similar facility.
- Any corruption destruction, distortion, erasure or other loss or damage to data, software, or any kind of programming or instruction set,
- Loss of use or functionality whether partial or entire of data, coding, program, software, any computer or computer system or other device dependent upon any microchip or embedded logic, and any ensuing inability or failure of the Cardholder to conduct business.
This clause shall not exclude subsequent damage or Consequential loss, not otherwise excluded, which itself results from a Defined Peril. Defined Peril shall mean: Fire, Lightning, Earthquake, Explosion, Falling Aircraft, Flood, Smoke, Vehicle Impact, Windstorm or Tempest. Such Damage or Consequential loss described in 1, 2, or 3 above is excluded regardless of any other cause that contributed concurrently or in any other sequence.
SECTION 3 – CLAIMS AND OTHER CONDITIONS
- Upon the happening of any event giving rise or likely to give rise to a claim under this Part B, the Cardholder shall as soon as is reasonably practicable, but not later than 30 days after such event (unless there were extenuating circumstances), give notice thereof to the Insurer through the designated representative as shown below and shall furnish all such particulars and evidence as the Insurer may reasonably require and shall take all practicable steps towards minimising the loss or damage:
AIG Insurance Hong Kong Ltd
Address : 46/F One Island East, 18 Westlands Road, Hong Kong AIG hotline : (852) 3666 7008
- All information, evidence and proofs required by the Insurer or designated representative shall be furnished at the expense of the Cardholder and shall be in such form and manner prescribed by the Insurer or designated representative. The Cardholder shall do all such acts and things as the Insurer or the designated representative shall reasonably require.
- The Cardholder shall notify the Police immediately of Insured Personal Property lost (howsoever caused) or willfully damaged and obtain a Police Report and/ or Police statement.
- The Cardholder shall complete a Claim Form and submit it to the Insurer within 14 days of its issuance together with the following:-
- a Police Report and/ or Police Statement (for Insured Personal Property lost or willfully damaged)
- original sales receipt/ invoice
- photocopy of billing statement or credit card sales slip kept by the Cardholder (if the billing statement is not available)
- original photograph of damaged property
- the damaged Insured Personal Property, when required, at the Cardholder’s expenses
- original Repair Quotation
- The Insurer or designated representative may reinstate, repair or replace the lost or damaged Insured Personal Property, as the case may be. Upon settlement of total loss any salvage shall become the absolute property of the Insurer to dispose of as it deems fit and for its own benefit. In no event shall the Cardholder abandon Insured Personal Property to the Insurer or designated representative unless with the prior written consent of the Insurer.
- In the event of a claim under this Part B, the Insurer or designated representative may at any time use all legal means in its own or the Cardholder’s name to recover any part of the Insured Personal Property or to obtain reimbursement of any loss or damage and the Policyholder or its representatives and the Cardholder shall give all information and assistance for that purpose.
- With regards to any claim for accidental damage to the screen of a mobile phone, the following procedure shall apply:
- The Cardholder must take the mobile phone with the damaged screen to the mobile phone manufacturer’s repair centre in Hong Kong, for repair. This must be done within 21 days of the accident which damaged the screen.
- The Cardholder must retain the official receipt for the repair and the repair centre’s repair report.
- The Cardholder must provide to the Insurer (to the address in 1. above or any special e-mail address provided for this purpose by the Insurer)
- a completed claim form,
- the original receipt for the purchase of the mobile phone from the retailer or statement from the retailer confirming purchase;
- the receipt from the repair centre for the cost of repair to the screen; and
- the repair centre’s repair report, within 30 days of having the screen repaired or replaced.
- Conditions Precedent to Liability - The due observance and fulfilment of the terms of this Part B in so far as they relate to anything to be done or complied with by the Policyholder or the Cardholder shall be conditions precedent to any liability of the Insurer to make any payment under this Part B.
- Pair & Set - Where any Insured Personal Property consists of articles in a pair or set, the Company or designated representative shall not be liable to pay more than the value of any particular part or parts which may be lost or damaged without reference to any special value which such article or articles may have as a part of such pair or set, nor more than a proportionate part of the value of the pair or set.
In the event of any discrepancy between the English and Chinese version of this document, the English version shall prevail. Copyright in this Policy is reserved. No part of this Policy may be reproduced in whole or part without the express consent of AIG Insurance Hong Kong Limited.