Insurance contracts concluded for the entities of Apator Group
The Executive Board of Apator SA announces that since 1st July 2014 the following comprehensive programme for the insurance of property and third party liability insurance of the entities in Apator Group is mandatory.
1. Insurance contracts concluded with the insurance pool of PZU SA/STU Ergo Hestia SA agencies regard the insurance:
- third party liability insurance due to business activity conducted and launching a product
- property against all the risks
- loss of profit based on property insurance against all the risks
- machines against damages
- electrical equipment against electrical damages
- electronic equipment against all the risks
- property during transportation
The contracts were concluded for the period of two years with two separate annual settlement periods: since 1st July 2014 till 30th June 2015 and since 1st July 2015 till 30th June 2016.
2. Insurance contracts concluded with PZU SA regard the following insurance:
- motor insurance – for the period since 1st July 2014 till 30th June 2015
- travel insurance – for the period since 1st July 2014 till 30th June 2016
Total value of insurance premium of the entities due to the above insurance is PLN 137 000 but total insurance value is PLN 3 m (values regard the period since 1st July 2014 till 30th June 2015).
3. Insurance contracts concluded:
- AIG Europe Limited Sp. z o.o. – within basic insurance policy
- ACE European Group Ltd. Sp. z o.o.,HCC International Insurance Company PLC and TUiR Allianz Polska SA – within second layer policy.They regard the third party liability insurance for all the Members of the Management of Companies.
Total value of insurance premium due to the above insurance is PLN 123 000 but total insurance value is PLN 100 m (values regard the period since 1st July 2014 till 30th June 2015).
The insurance contracts do not include any provisions regarding:
- special conditions that would be different to common ones used for such type of contracts
- reservations of condition and date
- liquidated damages
The criterion to consider the above contracts as significant contract is the total value of insurance that exceeds 10% of equity of Apator SA.
Legal basis of the report: § 5 para 1 point 3 of the Regulation of Minister of Finance regarding current and regular information being transferred by the issuers of securities and conditions to be considered as equivalent information required by law of the country not being the member of the EU.
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