Standard insurance product "VARTA 24/7"

Possible losses of the Policyholder associated with the risks of performing transactions using the Policyholder’s payment cards and/or bank accounts, the identification details of which are specified in the Contract, and which relate to:

• the Policyholder’s insurable interests;
• the insurance risks covered under the Contract.

The insurance coverage under the Contract applies to funds held in the Policyholder’s current, deposit, or card accounts opened with JSC «Raiffeisen Bank» (hereinafter – the account), as well as to payment cards issued in the Policyholder’s name for such accounts.

Insurance risks:

1. «Illegal withdrawal of cash from the card account» – transactions performed by third parties using the Policyholder’s card after its loss, aimed at withdrawing cash from the Policyholder’s card account at an ATM or self-service terminal using the card and PIN code.
2. «Unauthorized payment from the card account at retail/service outlets using lost/stolen cards» – transactions by third parties after card loss to pay for goods/services in the retail network using a lost/stolen card and/or a mobile phone, with or without a PIN code.
3. «Skimming» – unlawful execution of payment transactions on the Policyholder’s card account using a card duplicate and data obtained illegally.
4. «Internet acquiring using 3-D Secure technology» – unauthorized transactions by third parties using the Policyholder’s payment card within the e-commerce system employing 3-D Secure technology, or illegal operations resulting from theft of card data, phone data for obtaining a 3-D Secure password, or the password itself to perform an online payment.
5. «Phishing», «Pharming», «Vishing» – unlawful execution of payment transactions on the Policyholder’s card account without using the card/duplicate card, by employing illegally obtained card details.
6. «Social engineering» – payment transactions on the Policyholder’s card account performed under the influence of a fraudster.

An insurance event under the Contract is the fact of the Policyholder’s financial (property) loss related to the loss of funds due to the occurrence of insured risks during the period of insurance coverage under the Contract, confirmed by documents and not excluded from insurance cases.

Insurance limitations
The insurance coverage does not extend to the Policyholder’s credit accounts or credit cards.

The total insurance sum under the Contract is established at the Policyholder’s choice:

25,000 UAH

50,000 UAH

75,000 UAH

The liability limit is determined within the total insurance sum under the Contract for each 12 (twelve) months starting from the date of the Contract conclusion.

Insurance rate:

The annual insurance rate depends on the duration of the insurance period chosen by the Policyholder at the time of concluding the Contract and is set as follows:

• for a period of 1 (one) month — 1.44%;
• for a period of 1 (one) year — 1.00%.

Insurance premium:

The total insurance premium under the Contract is calculated as the product of the insurance sum and the annual insurance rate and depends on the chosen insurance period option:

for a period of 1 (one) month: 30 UAH; 60 UAH; 90 UAH;

for a period of 1 (one) year: 250 UAH; 500 UAH; 750 UAH.

Not applicable.

Territory of the contract — worldwide.

The contract does not apply:
- to the temporarily occupied territories of Ukraine as defined by Ukrainian legislation; territories where state authorities temporarily do not exercise their powers; settlements and areas located along the demarcation/contact line or in zones of military action of any kind, regardless of the official recognition of war;
- to territories outside Ukraine located in zones of military operations of any kind, regardless of the official recognition of war; temporarily occupied, annexed, or disputed territories; territories of states not officially recognized by Ukraine; territories for which the Ministry of Foreign Affairs of Ukraine has issued recommendations to refrain from travel abroad.

Term of the insurance contract — 1 (one) year / 1 (one) month with the possibility of extension (renewal) of the contract term.

Insurance period — 1 (one) year or 1 (one) month, depending on the duration of the insurance contract.

The contract becomes effective at 00:00 Kyiv time on the start date specified in the Contract as the Beginning Date of the Contract Term, but not earlier than the day following the payment of the insurance premium in the amount specified in the Contract to the Insurer’s account.

Time restrictions of insurance coverage: insurance protection under the Contract does not apply during the first 7 (seven) days from the effective date of the insurance contract and/or during the first 7 (seven) days after the receipt of a delayed insurance payment for subsequent insurance periods under this Contract.

The Contract and insurance coverage remain valid until 24:00 Kyiv time on the end date specified in the Contract, unless other circumstances lead to early termination, taking into account the conditions of the insurance coverage.

The Contract is renewed (extended) for the same duration and on identical terms if neither Party submits a written notice of termination or amendment within 30 (thirty) calendar days before expiration, and if insurance payments for the next periods are made.

In case of partial payment of the total insurance premium, the Insurer’s liability under the Contract is proportional to the actually paid part of the total premium; in the event of an insured case, the insurance sum and payment will be reduced proportionally to the unpaid portion.

For failure or improper fulfillment of the terms of the Contract, the Policyholder bears responsibility as provided by the legislation of Ukraine.

Failure to timely notify the Insurer (according to the Contract terms) about the occurrence of an insured event without valid reasons, untimely submission of documents required for the insurance payment, or failure to perform other duties stipulated by the Contract or law, if this led to the Insurer’s inability to establish the fact, cause, and circumstances of the insured event or the amount of the damage, may serve as grounds for refusal of the insurance payment.

If the insurance premium is not paid before the start of the corresponding insurance period, insurance protection during such a period does not apply.

The Contract is not supplementary to other goods, works, or services that are not insurance-related. The conclusion of the Contract does not require obtaining additional or related services from the Insurer and/or third parties related to receiving the financial service under the Contract.

Discounts and promotional offers are not available and do not apply.

Before concluding the Contract, the Policyholder must provide the Insurer with information that is essential for making a decision on concluding the Contract and/or determining the amount of the insurance premium, including information significant for assessing the insurance risk (the likelihood and probability of an insured event and the potential amount of loss). During the validity of the Contract, the Policyholder must notify the Insurer in writing of any changes to such circumstances within 5 (five) business days after they occur.

Information that is essential for the Insurer’s decision to conclude the Contract, determine the amount of the insurance premium, and assess the insurance risk includes data on:

• persons who have access to the card or have been granted access to the account;
• whether the card’s PIN code is stored separately from the card;
• whether other persons besides the Policyholder have access to the bank’s mobile app or internet banking linked to the Policyholder’s financial number that allows managing the Policyholder’s accounts;
• including notification of possession or theft of the Policyholder’s mobile phone, and the addition of the Policyholder’s cards to electronic wallets for making payments.

This insurance product requires the consumer to review the information in advance in order to make an informed decision about entering into the insurance contract.

Before concluding the insurance contract, the consumer must review information on exclusions from insured events and grounds for refusal of insurance payments, liability limits of the insurer for each insured object, insurance risk, and/or insured event, as well as the calculation procedure and conditions for insurance payments contained in the General Terms of the insurance product “VARTA 24/7”, available at the following link:

General Terms of the insurance product “VARTA 24/7”