URRI NS 2023 – December 2021 edition unresolved disputes or claims and outstanding debts or indemnities due to the IM at the termination of the Contract. 2.3.2.3 Insurance covers (updated in December 2021) As regards insurance covers, in connection with the execution of the Access Contract, the IM warrants and represents that it has taken out the insurance policies as follows, and undertakes to maintain them, or any other equivalent policies, for the entire term of the Contract: •
Third party liability, covering all the operations carried out by the IM and any related damage sustained by the RU, its customers and third parties: limit of liability of 300 million euros per event per year;
The RU undertakes to take out the insurance policies as follows, on its own initiative and at its own expense, with the characteristics specified hereinafter at least, and to maintain them for the entire term of the Access Contract: •
Third party liability, covering any damage sustained by the IM, the other RUs and their customers and third parties: limit of liability, for each RU, of 100 million euros per event and per year. Allowed sublimits: − indirect damage € 10 m; − damage to third parties caused by fire € 2 m; − accidental pollution € 2.5 m. No additional sub-limits are allowed for damages related to the execution of the activity covered by the contract. The rating of the issuing banks/insurers shall be published on the RFI website in the "Servizi e Mercato" Section. The above mentioned policy shall cover any risk related to all the types of transport set out in the safety certificate held by the RU, regardless of the goods it is carrying, besides all the activities carried out by the RU on the Umbrian Regional Railway Infrastructure and in the IM’s facilities. This policy shall: 1. contain the undertaking, by the Insurer, to notify to the IM, by registered mail with proof of receipt, any circumstances vitiating the validity of the policies themselves, in particular, the failure to pay the premium and/or to renew the policy on expiry; 2. if the RU has already taken out one or more insurance policies for a limit of liability consistent with the minimum requirements provided for hereunder, instead of the full insurance policy a rider/statement by the Insurer may be accepted according to the format indicated by the IM in Appendix 7 to this chapter. The above-mentioned declaration shall also feature an annex containing the list of exclusions and sublimits provided for in the policy; these documents shall be counter-signed by the Railway Undertaking; 3. be written in the Italian language; any policies or other documents issued in any other language shall be entirely translated by the Insurer itself or carry a note of consistency/acceptance by the issuing Insurer, if it has been translated by others. In the event of challenges/disputes the Italian version shall prevail; 4. make reference also to the international agreements (e.g. CIV, RIV, AIM Reg. EC n. 1371/2007) and to the access conditions to the service provided, as stipulated in Section 2 hereof; the contracting party shall be obliged to update the Insurer on any amendments to the international rules/agreements; the failure to notify this information by the contracting party, or the notification of inaccurate information, shall not entail the forfeiture of the claimant’s right to indemnification; 5. in the case at least 60% of the limit of liability is paid out during the term of the policy, this shall be topped up within 30 days from the request to the Insurer;
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