PREAMBLE

 

Whereas TAXIFY SHAREHOLDERS SPV OU (TAXIFY) has applied to Star Assurance Company limited (Hereinafter called the Company) for the insurance herein contained and has paid the premium in consideration for such insurance. The Company hereby agrees to indemnify the insured and Insured Persons in the manner and to the extent hereinafter provided.

 

Provided that, subject always to any other terms set forth herein, the liability of the Company under this Policy shall not exceed the sum insured and any additional limits set forth herein.

 

This Policy incorporates the schedules, specifications and endorsements that shall be read together as one contract. Words and expressions to which specific meaning is given in any part of this Policy shall have the same meaning wherever they appear.

DEFINITIONS

 

ASSAULT: means bodily injuries and or death sustained by insured persons, committed by the intentional or reckless application of unlawful force.

 

BODILY INJURY: means injury caused solely and directly by accidental, violent, external or visible means, which occurs during the Period of Insurance (but does not include any condition which is also an illness, sickness or disease or any degenerative condition (except where such illness, sickness, disease or degenerative condition is caused as a result of a covered Occurrence).

 

DISABILITY: means Bodily Injury that prevents the Insured Person from attending work and requires the Insured Person to be under the care of and acting in accordance with the instructions or professional advice of a qualified medical practitioner.

 

INSURED PERSON(S): any Passenger and Partner Driver, alighting to or from the vehicle and whilst travelling on a Trip in the Private Hire Vehicle provided that the Trip has been arranged using the smartphone application of TAXIFY.

 

OCCURRENCE: an act, accident, event or all acts, accidents, events of a series consequent on or attributable to one source or original cause which during the Period of insurance and within the Territorial Limit results in Bodily Injury or Property Damage which is neither expected nor intended by the Insured.

 

PARTIAL PERMANENT DISABILITY: means a Disability which is Permanent and which is a

Bodily Injury categorized as partial in the Insured Events section of this Policy.

 

 

PARTNER DRIVER(S): are individuals who use Private Hire Vehicles to provide transportation services within the Territorial Limit under agreement with TAXIFY (or affiliate thereof) through the use of technology enabling the arranged hire of private cars via a smartphone application).

 

PARTNER DRlVER‘S BUSINESS: means the use of a Private Hire Vehicle by a Partner Driver to provide transportation services to Passengers within the Territorial Limit under agreement with TAXIFY (or affiliate thereof) through the use of technology enabling the arranged hire of private cars and transportation services via a smartphone application.

 

PARTNER DRIVER INSURANCE: the insurance contract under which a Partner Driver can claim indemnity in respect of his liability arising from any incident which may occur during or in connection with the Partner Driver's Business.

 

PASSENGER: means a person who has arranged a Trip using a smartphone application that utilizes TAXIFY ’s digital network and any other person who is a passenger in the Private Hire Vehicle during the Trip.

 

PERMANENT: means lasting in excess of 12 calendar months from the commencement of the Disability and/or at the end of that period that a certified independent medical practitioner considered unlikely to improve with the Disability likely to continue for an

indefinite period.

 

POLICY PERIOD: Period of time from the inception date as indicated on the policy schedule to the end date as indicated on the policy period or an earlier date resulting from the termination of this policy.

 

PROPERTY DAMAGE: means physical damage to, loss of or destruction of tangible property.

 

PRIVATE HIRE VEHICLE: means the vehicle driven by the Partner Driver for the Trip.

 

TERRITORIAL LIMIT: Ghana

 

THEFT: means dishonestly appropriating property belonging to an insured person with the intention of permanently depriving them of it. Theft is limited to loss or damage to personnel effects of insured persons caused by forcible and violent means whilst on a trip. Cover also includes hold-up (theft accompanied by assault or violence, or the threat of it).

 

TOTAL PERMANENT DISABILITY: means a Disability which is Permanent and which is a Bodily

Injury categorized as total.

 

TRIP: means a journey taken by a Passenger in a Private Hire Vehicle driven by a

Partner Driver under agreement with TAXIFY (or affiliate thereof).

General Conditions

 

1. Company and Policyholder (collectively the "parties" and  each individually as a “party") shall give immediate notice to the other respective party of any change of address.

 

2. No alteration in the terms of this Policy and no endorsement hereon shall be valid unless signed or initialed by the attorney of the Company or by an authorized official of the Company and TAXIFY.

 

3. The Company shall be at liberty at any time by giving thirty (30) days‘ notice in writing to TAXIFY by Registered Letter posted to the address of TAXIFY as last known to the Company to determine and cancel this Policy as from the date of the expiration of such notice in which event the Company shall on demand return to TAXIFY a proportionate part of the premium corresponding to the unearned term of the Policy.

 

4. TAXIFY shall be at liberty at any time by giving thirty (30) days’ notice in writing to the Company by Registered Letter posted to the address of the Company as last known to TAXIFY to determine and cancel this Policy as from the date of the expiration of such notice in which event the Company shall be entitled to retain that part of the insurance premium for the earned term of the Policy. For the avoidance of doubt the sum to be retained will equate to the Actual Premium Charge (see section 5 below for definition) applicable to the time period in which the Policy subsisted.

 

5. Claim Ratio Trigger Clause

Notwithstanding that the premium payable has already been agreed upon, the premium payable under the Policy is subject to the experience of the Policy.

In the event that the loss ratio at any given point in time during the policy period is equal

to or greater than 60% of the Actual Premium Charged per vehicle, Star Assurance Company Limited shall reserve the right to review the premium rate payable per vehicle. It is mutually agreed that the premium is charged on the basis of an estimated number of 10,000 vehicles for the insurance period.

 

7. Claims Provisions

The Company agrees to provide TAXIFY with Claims data on a quarterly basis by the 15th day of the quarter following the quarter to which such Claims data applies with the

content as indicated in the attached Appendix to this Policy.

The Company and TAXIFY shall develop special handling instructions for claims arising from the Policy within 28 days of the commencement of this Policy or such later date as

the Company agrees with TAXIFY.

Coverage

 

This policy shall cover partner driver and unnamed passengers whilst they are alighting to or from a vehicle in which a Trip is arranged by TAXIFY (or Affiliate thereof) or whilst they are on a Trip arranged by TAXIFY(or affiliate thereof) against personal accidents (a sudden, unplanned, unintended external and visible event, giving rise to Bodily injury which result in death, Total Permanent Disability, Partial Permanent Disability, and the resultant medical and burial expenses incurred as a result of an insured event.

This Policy and its Definitions, provisos, conditions and schedules shall be read together

and any word or expression to which a specific meaning has been attached in any part thereof shall bear the same meaning wherever it may appear.

 

SPECIAL PROVISIONS

Forming part of and relating to items in the schedule

The benefit for death is payable to the Insured Person’s nominated beneficiary; Only one benefit listed in the table of benefits is payable in respect of the same

injury;

Total aggregate limit of our liability in respect of all claims made during any one period of Insurance shall not exceed the aggregate limit shown in the schedule of the Policy.

INSURED EVENTS

 

First: Death

 

The Company shall pay the indemnity amount shown in the Policy in the case of the death of the Insured Person within one year from the date of an Occurrence covered by this Policy to the beneficiaries of the Insured Person or legal heirs in case the beneficiaries are not specified. Should the insured Person die by a premeditated act on part of any of the specified beneficiaries or the entitled legal heirs, the share thereof of the due indemnity amount will be settled to the remaining beneficiaries or the entitled legal heirs proportionally.

 

Second: Assault

 

The company shall pay the indemnity amount shown in the schedule to the insured person for bodily injuries and or death which is committed by the intentional or reckless application of unlawful force by a third party intending to cause harm or to forcibly take possession of insured person’s property.

 

Third: Total Permanent Disability:

 

The Company shall pay the indemnity amount shown in Policy in case the Insured Person suffers a Total Permanent Disability as a result of an occurrence covered by this Policy, within one year from the date of said Occurrence. The Disability is deemed Permanent and total in any of the following cases:

 

Permanent Loss of eyesight

Loss of the legs or feet Loss of the arms or hands Loss of an arm and a leg Loss of an arm and a foot Loss of a hand and a leg Loss of a hand and a foot

 

The absolute, final and Permanent Disability of the organ or part of it to perform its function is deemed as a lost limb or organ for the interpretation of this Policy. The Insured Person is not entitled to any amounts before providing verified proof of the Disability.

 

 

 

Fourth: Partial Permanent Disability:

 

The Company shall pay the Insured Person an amount equivalent to a percentage of the Total Permanent Disability indemnity amount as detailed below in case the Insured Person suffers a Partial Permanent Disability as a result of an Occurrence covered by this Policy, within one year from the date of said Occurrence. The percentages applicable to payments for Partial Permanent Disability are as follows:

 

Scale of Benefits	Maximum % of Limit Per Occurrence
Loss of both hands or both feet	100%
Loss of sight of both eyes	100%
Loss of either one eye and one hand or one foot	100%
Speech and Hearing in Both Ears A	100%
Loss of either one hand. one foot or sight of one eye
	50%
Loss of speech or hearing in both ears	50%
Loss of hearing in one ear	20%
Loss of Thumb and Index Finger of Same Hand	20%

 

 

Additional Benefits:

 

Medical/ Burial/Ambulance expenses.

The Company shall pay the insured Person the following expenses which arise as a result of an Occurrence where the Insured Person suffers Bodily injury and/or death.

 

Loss or Damage to Personal Effects

The Company shall reimburse the insured person for the loss or damage of valuables that are worn or carried by the policyholder caused by assault and or theft from a third party

or accidental damage to vehicle whilst on a trip. Personal belongings of the insured is limited to non-perishable goods such as laptops, mobile phones, glasses, bags or luggage. Cash, credit/debit cards, cheques, jewelry, any kind of tickets (incl. lotto), coins,

plants/flowers, perishable goods, artworks, antiques and collectibles and weapons are excluded.

 

Daily Payments up to 15 days

The partner driver shall be reimbursed up to an amount not exceeding amount stated in schedule for loss of use to his vehicle as a result of the occurrence of an insured event.

EXCLUSIONS

 

The Company will not pay any claim for:

 

1.  Death  or  Bodily  Injury  to  an  insured  Person  caused  by  Acquired  Immune Deficiency Syndrome (AIDS) or any AIDS related condition SARS corona virus (SARS-CoV) Influenza A virus or any virus and/or conditions derived from the foregoing (including but not limited to H1N1, H7N7, H5N1) an outbreak of which the competent local authority has stipulated shall be notified to them.

 

2.  Death or Bodily Injury resulting from an Insured Person exposing him or herself to needless peril;

 

3.    Suicide, attempted suicide, any deliberately self-inflicted bodily injury or any illegal or criminal act committed by an insured Person while on a trip. Notwithstanding exclusion number 2 and 3 above, it is hereby declared and agreed that the action of one insured person does not impute on the action of the other insured person whilst on a trip.

 

4.  War, invasion, act of foreign enemy, hostilities (whether war be declared or not) civil  war,  rebellion,  riot, civil  commotion,  revolution,  insurrection or  military  or usurped power; or invasion;

 

5. The Insured Person playing football for or against professional clubs polo or motorcycling or mountaineering (with the use of ropes or guides) skiing, tobogganing, bob-sleighing, hunting or participating in speed or duration tests or races of any kind (other than athletics); or

 

6. Nuclear weapons, radiation or radioactivity from any nuclear fuel or nuclear waste arising from the combustion of nuclear fuel and/or any self—sustaining process of nuclear fission;

 

7. Losses other than those caused solely and directly by violent, accidental, external and visible means;

 

8. Illness or Sickness not directly caused in whole or in part by the Occurrence;

 

9. Death or Bodily Injury directly or indirectly arising out of discharge, dispersal, release or escape of pollutants;

 

10. This policy does not cover securities, obligations, or documents of any kind, stamps, coined or paper money (cash), cheques books of account or other business books, computer systems records.

 

11. Any legal liability outside the limits of this coverage is excluded.

CONDITIONS

 

1. The Company shall not be affected by notice of any trust, charge, lien, assignment or other dealing with this Policy and the receipt of the Insured Person or of his personal representatives for any compensation of this Policy shall in all cases be an effectual discharge to the Company.

 

2. If an Insured Person shall sustain any injury in respect of which a claim is or may be made under the Policy, written notice thereof shall be given to the Company as soon as possible and in any event within thirty (30) days after the date of the Occurrence but if the said Insured Person shall die, notice of death shall be given forthwith. The insured Person or his personal representatives shall at his or their expense furnish to the company such certificates information and evidence as the company may from time to time reasonably require in the form and of the nature prescribed by the Company. The Company shall be allowed at its own expense upon reasonable notice to the Insured Person to have a medical examination of that insured Person from time to time or in the case of death upon reasonable notice to the said Insured Person's personal representatives have complied with the terms of this condition.

 

3. As soon as possible after the Occurrence which may cause a claim under this Policy the Insured Person must obtain and follow the advice of a registered Medical Practitioner. The Company shall not be liable for any consequences arising from failure by the Insured Person to obtain and follow such advice.

 

4. All differences arising out of this Policy shall be referred to the arbitration of a person to be appointed by both parties or, if they cannot agree upon a single Arbitrator, to the decision of two Arbitrators, one to be appointed in writing by each party, and in case of disagreement between the Arbitrators, to the decision of an Umpire who shall have been appointed in writing by the Arbitrators before entering on the reference, and the making of an award shall be a condition precedent to any liability of the Company or any right of action against the company. If ‘the company shall disclaim liability to the Insured Person or his personal representative for any claim hereunder and such claim shall not within 12 calendar months from the date of such disclaimer have been referred to arbitration under the provisions herein contained then the claim shall for all purposes be deemed to have been abandoned and shall not thereafter be recoverable hereunder.

MEMO 1: JURISDICTION CLAUSE

Notwithstanding  anything  contained  herein  to  the  contrary,  it  is  agreed  that  the indemnity provided herein shall not apply to compensation for damage in respect of

judgments delivered or obtained in court outside Ghana.

 

MEMO 2: PERSONAL ACCIDENT ONUS OF PROOF CLAUSE

It is a condition that the Insured Person shall prove to the satisfaction of the Company that any accident happening shall not have been occasioned by or through or in

consequence directly or indirectly of any of the events excluded from this insurance.

 

MEMO 3: DISAPPEARANCE CLAUSE

Notwithstanding anything contained herein to the contrary, it is hereby agreed that if after seven (7) years have expired and the underwriters having examined all evidences

available shall have no reason to suppose other than that an Occurrence has occurred, the disappearance of a life insured shall be considered to constitute a claim under this

Policy. It is further agreed that if at any time after the payment has been made, a life insured is found to be living, any sum paid by the underwriters in settlement of the claim

shall be refunded to them

 

MEMO 4: SANCTION CLAUSE

No insurer shall be deemed to provide cover and no insurer shall be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose that insurer to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America.