Must, to the extension of the insurance contract after the expiry of its term, to meet the following conditions:
The first condition - That the contract of insurance damage:
Required, to the extension of the contract of his own, to be replaced by insurance of damages, that is, the insured the insured money and not in person . If the underlying insurance people, particularly life insurance, not left in such an extension would because expiry is linked to that insured risk will come of it than it is to a specific length of time, if achieved this danger there will be a need to extend it.
The second condition: that the annual extension is included in the document extension in the form of the condition visible and explicit agreements:
Must, over the fact that the subject of the contract of insurance damage, that the text on Annual extension of the contract after its expiry has stated in the insurance policy in the form of the condition visible and explicit agreements. But because there was no explicit requirement had been received and visible in this document or save it one of the parties, the contract does not extend .
I have stated in Article IX of the draft text on the government invalidity of each agreement to extend the contract for a period exceeding one year . Though this project did not see the light in the form of law to date, but that does not preclude consideration as determined as the author of this text has been deep in it when he spent the invalidity of each agreement to increase the extension for one year, while it was the first by the states the invalidity of increase is not the entire agreement invalid .
The third condition - Expiry of the original term specified in the contract:
Is required, along with the former conditions, that the contract is - Originally - a fixed term and that this period has elapsed . Because it does not extend to non-fixed-term contract and the contract did not expire original duration.
The fourth condition - Not declare his opposition to the insured extension before the expiration of the original term, thirty days:
Finally, it is necessary, to extend the contract year by year, not insured notify the insured not to desire the extension before the expiration of the original term specified in the insurance policy thirty days . If insured announced his opposition to it on time, there is a contract extension.
The drawer custom in the insurance market be notified opposing the extension in the form of a book recommended it with acknowledgment of receipt and access.
التسميات
insurance expiration