In what cases insurance contract is considered invalid?

19.06.2019,12:58


June 19, Fineko/abc.az. The general provisions of the Law on Insurance contain a range of paragraphs on invalidation of the insurance contract.

Those paragraphs say that in addition to the general grounds for invalidity of transactions envisaged by the Civil Code, the insurance contract is considered invalid from the moment of conclusion in the following cases:

1.1. when concluding a contract with persons who do not have legal capacity or have limited legal capacity;

1.2. if the object of insurance is the property subject to confiscation under the effective court sentence;

1.3. at the conclusion of the contract after the insured event;

1.4. at the conclusion of the contract with persons not entitled to conclude the contract on behalf of the insurer;

1.5. in the absence of the object of insurance at the time of conclusion of the insurance contract;

1.6. if the object of insurance is related to the illegal interests of the insured;

1.7. if under the insurance contract or several insurance contracts the property is insured in excess of its actual value (in excess of the sum insured);

1.8. at the conclusion of the insurance contract with the insurer who does not have a special consent (in this case, the paid insurance premiums are returned to the insured in full).