Sanctions

Penalty clause

Generali shall not provide cover and shall not be obliged to pay any claim or provide any other benefit under this contract if the provision of such cover, the payment of a claim or the provision of any other benefit under this contract would result in Generali contravening sanctions, prohibitions or restrictions under United Nations resolutions or trade or economic sanctions, laws or regulations of the European Union, the United States of America and/or Switzerland (complete list of sanctioned persons, companies and organisations from the State Secretariat for Economic Affairs SECO).

Territorial clause

This policy excludes the provision of insurance benefits, cover or other benefits in connection with losses, damage or liabilities

(i) arising from activities in Syria, Afghanistan, Iran, North Korea, Venezuela, Myanmar/Burma, Belarus, Cuba, Libya, Russia, the Crimea, the regions of Zaporizhzhia, Kherson, Luhansk and Donetsk (Ukraine), the Central African Republic, the Democratic Republic of the Congo, Haiti, Iraq, Lebanon, Libya, Nicaragua, Somalia, South Sudan, Sudan, Yemen, Zimbabwe or their territorial waters, the contiguous zone or their exclusive economic zone (‘the waters’) (with regard to the latter, excluding mere transit without a scheduled stop in Syria, Afghanistan, Iran, North Korea, Venezuela, Myanmar/Burma, Belarus,  Cuba, Libya, Russia, Crimea, the regions of Zaporizhzhia, Kherson, Luhansk and Donetsk (Ukraine), the Central African Republic, the Democratic Republic of the Congo, Haiti, Iraq, Lebanon, Libya, Nicaragua, Somalia, South Sudan, Sudan, Yemen, Zimbabwe or the waters with the exception of international shipping routes);

(ii) those arising from or located in the territories of the governments of Syria, Afghanistan, Iran, North Korea, Venezuela, Myanmar/Burma, Belarus, Cuba, Libya, Russia, Crimea, the regions of Zaporizhzhia, Kherson, Luhansk and Donetsk (Ukraine), the Central African Republic, the Democratic Republic of the Congo, Haiti, Iraq, Lebanon, Libya, Nicaragua, Somalia, South Sudan, Sudan, Yemen, Zimbabwe; or which are located in Syria, Afghanistan, Iran, North Korea, Venezuela, Myanmar/Burma, Belarus,  Cuba, Libya, Russia, Crimea, the regions of Zaporizhzhia, Kherson, Luhansk and Donetsk (Ukraine), the Central African Republic, the Democratic Republic of the Congo, Haiti, Iraq, Lebanon, Libya, Nicaragua, Somalia, South Sudan, Sudan, Yemen, Zimbabwe or within their territorial waters, or

(iii) arising from activities that directly or indirectly concern or benefit the government of Syria, Afghanistan, Iran, North Korea, Venezuela, Myanmar/Burma, Belarus, Cuba, Libya, Russia, Crimea and the regions of Zaporizhzhia, Kherson, Luhansk and Donetsk (Ukraine), the Central African Republic, the Democratic Republic of the Congo, Haiti, Iraq, Lebanon, Libya, Nicaragua, Somalia, South Sudan, Sudan, Yemen and Zimbabwe. However, this exclusion does not apply to activities or services carried out in emergencies for the purposes of safety and/or protection, or where the associated risk has been notified to Generali and Generali has confirmed cover for the relevant risk in writing.

Liability clause

Generali shall not indemnify the insured against any liability in respect of judgments, arbitral awards, payments, legal costs and expenses or settlements that have been heard before a court in a country whose laws are governed by the comprehensive sanctions and total embargo list applicable to persons, companies and organisations subject to comprehensive sanctions and a complete embargo as set out in the comprehensive list of the State Secretariat for Economic Affairs (SECO), or for a decision issued anywhere in the world to enforce such a judgement, arbitration award, payment, legal costs and expenses or settlement in whole or in part.