Terms and conditions of motor liability insurance for rental electric scooters

Effective June, 1st 2024 version number 01

1. Purpose of this insurance

The purpose of this insurance is to establish a statutory motor liability insurance for rental electric scooters as defined in the Motor Liability Insurance Act (460/2016) and accordingly, to compensate for damage to the extent that the personal injury or property damage is compensable under the mandatory provisions of the said Act.

2. Definitions

Electric scooter – for the purposes of these terms and conditions, an electric scooter means a two-wheeled vehicle with an electric motor, steered on a stand-on board and equipped with a handlebar, having a maximum structural speed of 25 km/h, which is in the course of commercial activity rented out to the public for the purpose of transporting persons.

Rental agent – the legal person who rents out electric scooters that are covered by this insurance policy.

Renter – the renter of an electric scooter covered by this insurance condition.

Authorized driver – An authorized driver is a person who drives an electric scooter with the knowledge and will of the person authorized to dispose of the vehicle.

Unauthorized use – when someone uses the electric scooter without permission of the rental agent or renter.

3. Applicable law

The insurance is governed by Finnish law, including but not limited to the Insurance Contract Act (543/1994) and the Motor Liability Insurance Act (460/2016), as well as what is stated in these insurance terms and conditions and associated documents. Disputes regarding the Policy shall be settled by the courts of Finland, unless legal provisions allows a party to initiate proceedings before other courts.

4. Policyholder

The Rental agent of electric scooters shall be the policyholder of this Policy.

5. Insured persons (beneficiaries)

The policyholder and a renter and authorized driver of an electric scooter covered by these insurance terms and conditions as well as any other person or entity allowed to invoke the Policy under the Motor Liability Insurance Act shall be insured persons under this policy.

6. Insured objects

The insurance applies to the electric scooters specified in the insurance certificate.

7. Where does the insurance apply?

The insurance is valid in Finland and any other place provided for by the Motor Liability Insurance Act.

8. When does the insurance apply?

The insurance is valid from the day marked in the Insurance Policy addressed to the policyholder until the last day of the agreed insurance period, following which the insurance shall automatically renew unless terminated by either party. The insurance only covers personal injury and property damage caused by events that occurred during the insurance period.

9. What is covered by the insurance

The insurance covers the following costs and damages in the event of personal injury or property damage caused by the insured vehicle used in traffic:

Personal injury (It is emphasized that the compensation for personal injuries suffered by the driver of a rented electric scooter is limited by the Act to medical expenses within the meaning of the Motor Liability Insurance Act. This would not include, for example, compensation under the Law on Rehabilitation Reimbursable under The Motor Liability Insurance Act.)
Legal costs as referred to in the Motor Liability Insurance Act.
Damage to another vehicle in traffic, if it proven that the driver of the insured electric scooter caused the damage
Damage to other property if it belongs to someone other than the policyholder, the renter or the authorized driver of the insured electric scooter
Any other damage which shall be compensated by the insurer pursuant to the Motor Liability Insurance Act.

10. What the insurance does not apply to

To the extent permissible by applicable mandatory law, the insurance does not cover the following:

Damages to, destruction or loss of the insured electric scooter or damage to property carried by the insured electric scooter.
Damages/losses that occurs while the vehicle is participating in organized races (both during practice and when participating in races) which takes place in a limited area.
Damages/losses that do not arise as a result of use in traffic.
The liability for claims is strictly limited to liability pursuant to the Motor Liability Insurance Act. Any claims falling outside of the scope of the Motor Liability Insurance Act are not covered by the insurance.

11. Reduction of compensation

To the extent permissible by the Motor Liability Insurance Act the injured party’s deliberate or gross negligent actions leading to damage or injury, driving under influence of alcohol or drugs e.g. may result in a reduction of compensation.

12. Indemnification provisions

The liability for claims is strictly limited to the liability pursuant to the Motor Liability Insurance Act. Any claims falling outside of the scope of the Motor Liability Insurance Act are not covered by the insurance. The following provides a non-exhaustive summary of the coverage under the Motor Liability Insurance Act:

According to the Motor Liability Insurance Act, personal injury caused by use of a vehicle in traffic is compensated without an upper limit in euros.

Compensation for personal injury to an electric scooter driver shall be limited to medical expenses within the meaning of the Motor Liability Insurance Act.

Compensation can be reduced if the injured party contributed to the damage by gross negligence or intent. The reduction shall be such as is reasonable having regard to the fault of the parties and other circumstances, including but not limited to the safety requirement listed in the terms and conditions of the Policyholder. 3

Compensation to a driver of the electric scooter guilty of driving under the influence of drugs or alcohol may also be reduced.

Damage to third party’s property is compensated. Compensation for damage to property shall not exceed EUR 5 million for each motor insurance policy liable for the damage.

The compensation can be reduced if the injured party contributed to the damage. The reduction shall be such as is reasonable having regard to the fault of the parties and other circumstances.

To the extent that compensation is paid from this insurance, the right of the injured party to demand from a third person the amount of compensation that the insurance company has paid to him is transferred to the insurance company. If the third person is a private person or an employee, public servant or another person who is equated to these according to Chapter 3 § 1 of the Damages Act or the owner, holder, driver or passenger of the vehicle, the right is transferred only if this person caused the damage intentionally or through gross negligence or negligence combined with driving under the influence of drugs or alcohol under the conditions referred to in section 48, subsection 1.

If two or more insurance companies are responsible for the same traffic accident, the insurance companies will be jointly and severally responsible for the compensation, as is reasonable considering the fault that occurred and other circumstances that caused the damage. However, if the damage is caused solely by the deficiency of a particular vehicle, incorrect loading or an error on its part, the insurance company that has issued insurance for this vehicle is responsible for the compensation.

For avoidance of doubt, none of the above shall limit the insurers’ right to invoke additional remedies and exclusions which follow from the Motor Liability Insurance Act or the Insurance Contracts Act

13. Settlement of a claim

The insurers will aim to settle any claims as soon as possible. Payment, to the extent payment shall not me made by periodical payments, shall be made within a month from the insured having substantiated its claim. Failure by the insurer to pay such compensation entails liability to pay delay interest pursuant to the Finnish Interest Act (633/1982).

The amount to be paid as compensation will be determined pursuant to the provisions of the Motor Liability Insurance Act.

14. Measures to be taken in the event of damage

The following shall be adhered to in case of damage:

The insured must notify the insurer of the claim as soon as possible after becoming aware of the event.
The insured must follow the insurer’s instructions.
The insured is obliged to provide the insurer with all the information and documents necessary for the assessment of the claim.
The insured may not undertake to pay compensation.
If compensation is claimed from the insured or any other party, the claim must be directed to the insurer.

In respect of a claim covered by the Policy, the insurer shall:

investigate whether the insured is liable for compensation.
The insurer pays the compensation that the insured is obliged to pay under the Motor Liability Insurance Act.

When settling a personal injury claim, the insured must contribute to the investigation of the injury and its consequences by providing the information and documents necessary for the settlement of the claim or by granting a power of attorney to the insurer or its representative to obtain from hospitals and other healthcare institutions the documents and the investigation otherwise necessary for the settlement of the claim.

15. Premium and terms of the Policy

1. Payment

The terms of payment for insurance premiums are stated in the invoice and are otherwise regulated by the Insurance Contracts Act (543/1994) and the Motor Liability Insurance Act. (460/2016)

2. Change of characteristics for premium calculation and the Policy

At the end of each insurance period the insurer may change the premiums to be reasonable in relation to the cost of the insurance. The premium may also be adjusted in line with changes in the level of compensation and costs.

Notwithstanding the above, the insurer may also change the terms of the insurance or the premium during the insurance period due to new or changed legislation (including but not limited to rate of insurance premium tax) or an order from a public authority or an unforeseen change in circumstances (e.g. an international crisis, an exceptional natural event, a major accident).

The insurer is also entitled to make minor amendments to the Policy that do not affect the main content of the Policy.

3. The policyholder’s notification obligations regarding the characteristics for premium calculation

Notification of changes

The policyholder must notify us immediately of any change to a feature for premium calculation and if the use of vehicles changes.

Checking the characteristics for calculating contributions

The insurer is entitled to request validation from the policyholder that the input variables on which the premium calculation is based are correct.

Consequences of inaccurate information

If the policyholder have provided intentionally or through gross negligence inaccurate information on features for premium calculation or have not notified changes and if, as a result, a premium has been calculated that is too low, the premium that corresponds to the actual features for premium calculation shall apply retroactively for at least from the beginning of the current insurance year, and up to last five calendar years.

Consequences of non-disclosure

If the policyholder intentionally or by gross negligence fail to comply with our request to provide confirmations or evidence, we are entitled to calculate the premium retroactively from at least beginning of the current insurance year, and up to last five calendar years on the basis of the assumptions that are least favorable to the policyholder if:

we have informed the policyholder in text form of the premium then payable and the assumptions on which this is based; and
the policyholder also fail to submit the confirmations or evidence requested for the verification of the premium calculation within a response period of at least four (4) weeks set by us.

Notice regarding change of premium or insurance terms

After learning about a circumstance giving rise to change of Policy or premium, the insurer shall, without undue delay, dispatch a notice indicating how and at what date the premium or other terms or conditions of Policy change. The notice shall include a mention that the policyholder is entitled to terminate the Policy, Further, the insurer’s invoice for the insurance premium to the policyholder shall be accompanied by an advice of the changes made in the premium or other terms or conditions. Such advice shall also include a mention that the policyholder is entitled to terminate the insurance.

16. Term and end of contract

1. Renewal of the policy

The policy will be automatically renewed after the close of an insurance period, unless the contract is terminated by either party.

2. The policyholder can terminate the insurance:

If the policyholder wishes to terminate the insurance, the termination shall be given by writing. Termination will take effect on the day after the insurer receive the notice of cancellation. The insurance may also be terminated with effect from a specific date in the future.

3. The Insurer can terminate the insurance:

The insurer may terminate the insurance before the end of the insurance period, when such termination is permitted by the applicable Finnish laws.

The termination must be made in writing and with 14 days’ notice, counted from the date that the insurer sent it. The termination must take place without unreasonable delay from the time the insurer became aware of the circumstance on which it is based.

What must be observed when selling the vehicle?

In the event of sale, the policyholder will have to take the electric scooter out of the fleet contract, upon which the electric scooter will cease to be insured.

Loss of risk (e.g., due to vehicle scrapping)

If the insured risk finally ceases to exist, the policyholder is entitled to cancel the insurance after the insurer receive notice of the policyholder’s termination. In such event, the insurer shall be entitled to the premium up to the time when they become aware of the cessation of the risk.

Premium statement after termination

In the event of termination before the end of the insurance year, the insurer shall be entitled to the premium attributable to the period of insurance cover on a pro rata basis.

17. Limitation

The insured must submit a claim or a statement of claim to the insurance company within three years of the date on which the insured became aware of the damage and its consequences. In any event, the claim must be submitted within ten years of the consequences. If the claim is not submitted within the above-mentioned period, the insured will, as a general rule, lose right to compensation.

18. Value added tax

To the extent the costs for damage covered by this insurance include value added tax being able to be deducted or refunded under the VAT Act, the Insurer will pay compensation reduced by the amount of the value added tax.

19. Personal data

More detailed information on how the insurer handles your personal data can be found in the insurer’s personal data policy: https://www.wakam.com/en/privacy-policy/ 6

20. Insurance intermediaries

Cachet Insurance Broker OÜ has been used as insurance intermediary in connection with this insurance. Cachet is an insurance broker licensed to conduct insurance mediation in Estonia that has also notified cross-border operations to Finland, see link https://www.finanssivalvonta.fi/rekisterit/luettelo-notifikaation-tehneista-palveluntarjoajista/

21. Insurer

WAKAM S.A., 120-122 rue Réaumur 75002 Paris – Registration number 562.117.085 – Non-life insurance company authorised by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), 4 Pl. de Budapest, 75009 Paris, under number 4020259.

22. The insurer’s representative in Finland

The insurer will appoint a representative. The representative must be resident in Finland or be a Finnish legal entity. The insurer shall issue a power of attorney to the representative to represent the insurer vis-à-vis the injured party and to speak and answer for the insurer himself or through a third party regarding insurance claims. The representative shall also have the authority to represent the insurer in checking whether there is valid motor liability insurance. The insurer shall inform policyholders of the identity and address of the insurer’s representative.

The insurer has appointed the following representative:

CRAWFORD & COMPANY FINLAND OY

registered in Finland with number 3097443-9 whose registered office is at Rantatie Business Park, Hermannin rantatie 8, 00580 Helsinki, Finland.

23. Complaint

Request a reconsideration

If you are dissatisfied with our decision, you shall first contact the claims adjuster in charge of the matter. A conversation can provide additional information and any misunderstandings can be cleared up. If you are still dissatisfied, please contact the claims adjuster’s immediate manager. The claims adjuster will provide contact details upon inquiry. You can also submit your complaint to the Wakam head office: Wakam – Complaints Department – 120-122 Rue Réaumur, TSA 60235, 75083 PARIS Cedex 02 – France

If, after renewing your contact with us, you are still not satisfied, there are the following options to have the case reconsidered.

The Finnish Financial Ombudsman Bureau (FINE)

This venue is open to injured taking advantage of this policy

FINE’s purpose is to provide consumers, SMEs and corresponding customers with advice in the problems they may face in their insurance, banking and investment operations as well as to solve the related complaints.

FINE’s services are provided free of charge to the customers.

FINE seeks to promote the interests of the insurance and financial sector’s customers and the healthy development of the practices in the insurance and financial sector.

Porkkalankatu 1

00180 HELSINKI

www.fine.fi

Traffic Accident and Patient Injury Board (LIIPO)

LIIPO is a independent and autonomous body processing traffic accident and patient injury matters. We issue recommended decisions in compensation matters governed by the Motor Liability Insurance Act. LIIPO aims to harmonise compensation practices and improve public 7

access to information regarding compensation practices in traffic accident and patient injury cases. They may also issue general recommendations on the application of these laws.

Lintulahdenkatu 10

00500 Helsinki

www.liipo.fi

Consumer Advisory Services

The Consumer Advisory Services provide general information and guidance related to consumer law questions and disputes.

Lintulahdenkuja 2, 00530 Helsinki