Our cooperation with the banks

Wiener Städtische osiguranje shall conclude every insurance contract with the duration period corresponding to the credit period. An integral part of the insurance contract is vinculation – an Insured’s written statement by which he/she transfers the rights on the basis of the concluded insurance contract, in full or in part, for the specified time period within the agreed insurance period, to a third party (bank).

Transfer of the rights on the basis of concluded insurance contract can be made only by the Insured (holder of mortgage and/or lien), and if the Policy Holder and the Insured are not the same person, the Policy Holder shall not be authorized to give the statement of the rights transfer.

Insurance of the object of bank credit includes:

• Insurance of residential buildings and apartments (insured object is the subject-matter of mortgage, lien)
• Insurance of entrepreneurs’ equipment and construction facilities (insured object is the subject-matter of mortgage, lien)
• Casco and compulsory motor vehicle insurance
• Life insurance only in the event of death of the insured (credit beneficiary) with descending insured sums where the insurance beneficiary is the bank and the insured sum is equal to the remaining credit principal in line with the annuity plan which is an integral part of the insurance contract.
• Insurance of credit beneficiaries and credit card beneficiaries, where the following insured events are covered: death due to accident and 50% to 100% disability due to accident of the insured.