ARAG ACTIVO

ALL THE ARTICLES INCLUDED IN THE GENERAL CONDITIONS OF THE POLICY WITH THE LIMITS SHOWN ARE THE OBJECT OF THIS INSURANCE.

When an Insured party has his or her normal residence in Spain and is a Spanish national, the territorial scope of Individual Public Liability coverage shall be worldwide. When an Insured party has his or her normal residence abroad or is not a Spanish national, the Public Liability coverage shall be exclusively valid for claim events in Spain.

THE INSURED:

Each of the natural persons who are clients of the travel agency associated with the insurance Policyholder and connected through it, who appear on the certificates issued, will be considered to be Insured parties.

Insured parties with usual home address abroad:

When an Insured party has his or her normal residence in Spain and is a Spanish national, the territorial limit of Individual Public Liability coverage shall be worldwide. When an insured party has his or her normal residence abroad or is not a Spanish national, the Public Liability coverage shall be exclusively valid for claim events in Spain.

TERRITORIAL LIMIT: The insurance is valid in Spain and Andorra, or in Europe and countries bordering the Mediterranean, or worldwide, depending on the destination of the journey, trip or stay contracted with the insurance Policyholder. When the Insured is on board any type of land, sea or air vehicle, the Insurer shall not be obliged to provide any type of service, which will be provided as long as the Insured is on terra firma.

It is expressly agreed that the obligations of the Insurer deriving from the cover of this policy shall end at the moment when the Insured has returned to his or her usual home address, or is admitted to a medical establishment situated in the town of his or her usual home address.

Insureds with usual home address abroad:

If the usual home address of the Insured is abroad and he or she has taken the policy out by Internet for a trip with a destination in Spain, the premiums will be invoiced in accordance with his or her continent of origin. In other words, if his or her usual home address is in Europe, the “continental limit” premium will be charged, and if his or her continent of origin is Africa, America, Asia or Oceania, the “transcontinental limit” premium will be charged. For the purposes of the cover provisions and compensation limits described in each guarantee, the home address of the INSURED refers to the usual home address in their different countries of origin, and thus whenever the word Spain appears, it will be considered the country of origin of the INSURED, and therefore whenever the word abroad appears, Spain will be understood to be abroad. When said insured whose usual home address is abroad makes a trip (contracted through a Spanish travel agency) to another different country, the territorial limit applicable will be the one with the highest cost upon comparing his or her origin and destination. In all events, the cover in the contract for insureds who are not resident in Spain will be limited to trips with a destination different from the place of his or her residence, and trips with a destination in his or her own country of residence are excluded.

NOTIFICATION OF THE TRIPS:

The insurance Policyholder shall notify ARAG of all the data relating to the travellers (names, destinations, duration of the journeys) prior to the start of the journey. The insurance Policyholder shall also make available to ARAG all the documents relating to the persons insured under this contract, so that the Insurer may check the accuracy of the data of the travellers as communicated by the Insurance Policyholder.

So that the clients of the insurance Policyholder, who shall be the parties insured by this policy, may be aware of the cover provided by this insurance, ARAG shall issue Certificates to be distributed by the insurance Policyholder to its clients that shall be the only valid document accepted as proof that they are Insured under this policy. Documents issued via the Internet shall also have the status of Certificates.

The insurance Policyholder shall include the start and end date of each journey in all Certificates distributed.

PAYMENT OF PREMIUMS TO ARAG: Each month ARAG shall collect the total invoice amount for the journeys notified by the insurance Policyholder, from the current account held by the latter at a banking establishment, the details of which shall have been supplied before this policy takes effect.

PROVISION OF SERVICES:

The provision of the services envisaged in this policy will be dealt with through the ARAG COMPAÑÍA INTERNACIONAL DE SEGUROS Y REASEGUROS, S.A. Organisation.

ARAG shall give the Insured documentation proving his or her entitlement, along with instructions and the emergency telephone number, for use when services are urgently required.

The ARAG telephone number is 93 300 10 50 if the call is made in Spain, and 34 93 300 10 50 if calling from abroad. Reverse charge calls may be made.

DUTY TO INFORM THE INSURED By virtue of this certificate and prior to enactment of the insurance, the Insured Person has received the following information, in accordance with the provisions of article 60 of the Act governing the arrangement and supervision of Private Insurance and in articles 104 to 107 of its Administrative Regulation. · The Insurer of the policy is Arag Compañía Internacional de Seguros y Reaseguros, SA, a limited company incorporated in Spain with registered offices at Calle Roger de Flor, 16, Barcelona.

· The insurance contract is subject to Spanish law, in particular Law 50/1980 of 8 October, regarding Insurance Contracts.

· The Policyholder or the Insured may, in cases of dispute with the Insurer, have recourse to Arbitration and the ordinary Spanish Courts of Justice, notwithstanding the right to present any claims to the General Insurance Council.

In compliance with that established in Law 26/2006, of 27 July, on private insurance and reinsurance brokerage, we expressly provide the following information:

1. Broker’s identity and address: Taeds-Piniés, Molinas, Milá, Correduría de Seguros, S.L., with registered address at Paseo de Gracia, 11 B, 9, 08007 Barcelona.

2. We are registered with the Special Administrative Register of Insurance Brokers of the DGSFP (Directorate General of Insurance and Pension Funds) of the Inland Revenue with number J-566. Said bodies may be contacted for the purposes of verification.

3. We have no direct or indirect holding in the share capital of insurance establishments, and nor does any insurance establishment or company associated therewith have any holding in our share capital.

4. As part of our work in insurance brokerage, we are obliged to provide objective professional advice on the type of insurance contract that suits your needs.

5. In accordance with that established in ECO 734/2004 Order, of 11 March (BOE-official Spanish parliamentary records- 24 March 2004), you are informed that should you wish to make any complaint or claim with regard to our brokerage, you may do so by contacting our Customer Service Department, Association of Insurance brokers, and addressing it to Mr Pablo Güell, Paseo de Sant Joan, 33. 08010 Barcelona (elcol-legi@elcol-legi.org), who is assigned a period of two months to resolve it. The operating standards of said Department, adapted to legal requirements, are available to you. INFORMATION ON DATA PROTECTION

Should this policy include data concerning natural persons other than the Insurance Policyholder, the latter must inform such persons in advance of the content of the following paragraphs.

The applicant consents to the inclusion of any data of a personal nature that may appear in this application within the files of the Broker and of ARAG. The processing of such data is intended to facilitate the basis and development of the contractual relationship that binds the applicant and the Insurer.

The personal details provided may be communicated to other Insurance Companies or public organisations related to the insurance sector for statistics purposes, to fight fraud or for the purposes of the co-insurance or reinsurance of the risk.

Agreeing to this processing is essential for the contractual relationship referred to in this document to take effect, which is not possible without said agreement.

The applicant may exercise his or her rights of access, objection, amendment and cancellation before the Broker or before the Insurer, within the terms specified in the data protection legislation, and shall send any communications to their registered office.

Similarly, the applicant authorises ARAG to process his or her data in order to send information on other insurance products marketed by the Company, and to convey them to other Companies within the group for the same purpose.

If you do not wish to receive promotional literature from Arag or Companies within the group, tick the following box: c. Refusal to authorise said processing will not prevent formalisation of the contractual relationship.

CUSTOMER SERVICE DEPARTMENT

Pursuant to that established in Article 9 of the ECO/734/2004 Order of 11 March, please be advised that ARAG has a Customer Service Department (C/ Roger de Flor, 16 , 08018 - Barcelona , telephone 902.367.185, fax. 93.300.18.66. e-mail: dac@arag.es, website: www.arag.es) to deal with and solve any complaints and claims presented by its insured parties in relation to their interests and legally-recognised rights, which shall be dealt with and solved within a maximum of two months as of their presentation. In the event of disagreement with the solution adopted or where the two-month period has ended without any response being given, the claimant may contact the Ombudsman in Defence of the Insured at the General Insurance Council (Paseo de Castellana, 44, 28046 - Madrid, Tel. 902.197.936, fax. 91.339.71.13).

“ARAG ACTIVO” TRAVEL ASSISTANCE INSURANCE FOR PEOPLE

General Conditions

Introduction

This Insurance Contract is governed by the agreements in these General Conditions and in the Specific conditions of the contract, pursuant to the provisions of Spanish Insurance Contract Act 50/1980 of 8 October and of Spanish Act 30/1995, of 8 November, on the Administrative Rules and Supervision of Private Insurance.

Definitions

In this contract the following is understood:

Insurer: ARAG Compañía Internacional de Seguros y Reaseguros, S.A., which assumes the risk defined in the policy.

Insurance Policyholder: The natural or legal person with whom the Insurer subscribes this contract, and to whom the obligations deriving herefrom correspond, with the exception of those which by their nature are to be fulfilled by the Insured.

Insured: The natural person specified in the Specific Conditions who, in the absence of an Insurance policyholder, assumes the obligations deriving from the contract.

Family members The Insured’s family members are understood to be his or her spouse or de facto partner, or person with whom the Insured lives on a permanent basis, or one of their first or second degree ascendants or descendants or blood relation (parents, children, grandparents, grandchildren), brother or sister, sister or brother-in-law, son-in-law, daughter-in-law or parents-in-law.

Policy: The contractual document containing the Conditions Governing the Insurance. The General Conditions, the Specific Conditions that itemise the risk, and the supplements or appendices issued as addenda or modifications to the document form an integral part hereof.

Premium: The price of the insurance. The receipt shall also contain any supplements and legally applicable taxes.

Alternative tourism: An alternative tourism trip is understood to be any that seeks occurrences and experiences which involve the practice of pursuits in nature, be they sporting or adventure activities, provided that they undertaken in a quality environment and inherently involve some degree of physical effort or skill to perform them, or others of a cultural, gastronomic and rural nature. The following activities are covered: Cycling, horse-riding, vehicles, buggies driven by the original Insured, rafting, diving, jet skis, banana tubes and general beach games, fast outboards (with pilot), canoes (local skippers), helicopter flights, ranch activities (bullfights, etc.) motorboats (with pilot), trekking, canyoning, quadbikes, tennis, golf, kayaking, windsurfing, pedalos, catamarans, light vessels, snowmobiles, pocket motorbikes, pedal boats, ice karts, sledges or similar, sailing boats, orientation, assault courses, horse buggies, rack railways, sports gymkhanas, dog sleds, the Artouste train, aerotrim, inflatable tube rides, summit chairlift, climbing and abseiling, caving, skating, bungee jumping, archery, hot-air balloon and captive balloon, water skiing, ultra-tube, ski bus, hydrospeed, and any other sports activity with a similar degree of risk.

1. What is OBJECT of this insurance?

This policy will provide insurance cover, up to the limits indicated in each guarantee, for the insured persons while on their trips, and include the practice of winter and alternative tourism sports, except for the practices indicated in the sections on Exclusions.

The trips and stays necessary to practise the above activities will also be covered.

The professional practice of the sports detailed in said policy is excluded.

2. Who are INSURED by this policy?

The natural persons listed in the Specific Conditions, or on the vouchers or on the certificates issued by Internet.

3. What is its PERIOD OF VALIDITY?

Temporary Policies will last the duration specified in the Specific Conditions or voucher or certificate issued by Internet.

4. What TERRITORIAL LIMIT is covered?

The warranties described in this Policy are valid for events that take place worldwide, in accordance with the specifications in the Specific Conditions.

The services covered by this Policy shall be provided when the Insured is away from the town where he or she is usually resident.

When the Insured is on board any type of land, sea or air vehicle, the Insurer shall not be obliged to provide any type of service, which will be provided as long as the Insured is on terra firma.

Excluded from cover under this policy are those countries that, during the trip or journey of the Insured, are in a state of war or siege, insurrection or warlike conflict of any type or nature, even if this has not been officially declared, and those countries that are specifically mentioned on the receipt or in the Specific Conditions. It is expressly agreed that the obligations of the Insurer deriving from the cover of this policy shall end at the moment when the Insured has returned to his or her usual home address, or is admitted to a medical establishment situated in the town of his or her usual home address.

5. What is COVERED by this insurance?

In the event of the occurrence of a claim event covered by this policy, ARAG, as soon as it is notified in accordance with the procedure indicated in Article 8, guarantees provision of the following services:

5.1.1 Medical and health assistance

ARAG shall be responsible for the expenses relating to the intervention of health professionals and establishments required to care for the sick or injured Insured.

The following services are expressly included, although this list is not exhaustive:

a) Attention by emergency medical teams and specialists.

b) Additional medical examinations.

c) Hospitalisation, treatment and surgical operations.

d) The supply of medicines as an in-patient or the reimbursement for the same when the injuries or illness do not require hospitalisation.

e) The treatment of acute dental problems, defined as those that, by reason of infection, pain or trauma, require immediate attention.

f) The prostheses the medical team deems necessary in accordance with the injuries that have occurred, and costs of crutches, up to a maximum of 300 euros, for emergency on site medical attention at all times.

g) The expenses claimed from the insured arising from the use of the hyperbaric chamber following the practice of diving, up to a maximum of 3,000 euros. ARAG undertakes to pay the expenses relating to these benefits subject to a limit per Insured person of 1,000 Euros, when the services are provided within the local territorial limit defined in the Specific Conditions of the policy, 3,000 Euros when the services are provided in Andorra or 6,000 euros or its equivalent in local currency, when provided in the continental or transcontinental limit, as defined in the Specific Conditions.

In all events, dental treatment is limited to 60 euros or the equivalent in local currency.

5.1.2 Search for and rescue of the insured

In the event of loss or erring of the INSURED within the ski station site or from the place assigned for alternative tourism, the INSURER will assume payment of the amounts claimed from the Insured resulting from a search for him or her by the community or the public or private rescue bodies, up to a limit of 6,000 euros.

The initial 120 euros will be assumed by the INSURED in all events.

5.1.3 On-slope rescue

If, because of an accident the INSURED has on the ski slopes, he or she is required to pay or incurs expenses for rescue by sledge or transfer by ambulance inside the ski station site, and even if the use of a helicopter should be necessary because of the circumstances or seriousness of the case, the INSURER will assume payment thereof.

5.1.4 Medical transfer or repatriation of injured or ill persons

In the event of accident or illness affecting the Insured, ARAG shall assume the following:

a) Expenses for transfer by ambulance to the nearest hospital or clinic.

b) Supervision by its Medical Team, in liaison with the physician attending the injured or ill Insured to determine suitable measures concerning the best treatment to be followed and the most suitable means for eventual transfer to another, more suitable hospital or to the Insured’s home address.

c) Expenses for transfer of the injured or ill person by the most suitable means of transportation to the prescribed hospital or to his or her normal home address.

The means of transportation used in each case is to be decided by ARAG’s Medical Team on the basis of the urgency and seriousness of the case. In Europe and in countries bordering the Mediterranean, a specially equipped air ambulance may even be used.

If the Insured is admitted to a hospital that is not close to his or her home address, ARAG shall be responsible for subsequent transfer to the home address when appropriate.

5.1.5 Visit by a family member in the event of hospitalisation

If the condition of the ill or injured Insured requires his or her hospitalisation for a period longer than 5 days, ARAG shall make available to a member of the Insured’s family or to the person designated thereby, a return ticket, by air (economy class) or rail (1st class) so that they may accompany him or her.

ARAG shall also pay up to 75 euros per day, for a maximum period of 10 days, for the subsistence expenses of the accompanying party, against presentation of the relevant invoices.

5.1.6 Convalescence in a hotel:

If the sick or injured Insured person is advised by doctors not to return home, ARAG shall assume the expenses of hotel accommodation resulting from the extension of the stay, up to 75 euros per day and a maximum period of 10 days.

5.1.7 Repatriation or transfer of the deceased Insured In the event of the death of an Insured, ARAG shall both arrange the transfer of the body to the place of burial in the country in which the trip subject to cover began, which was expressly declared by the Insured at the time the insurance was taken out and for which he or she has paid the respective premium, in accordance with the Specific Conditions of the policy, and assume payment of the expenses thereof. These expenses shall include post mortem preparation in accordance with legal requirements.

Funeral expenses and fees for religious ceremonies are not included.

5.1.8 Repatriation or transfer of the other Insured persons.

When in applying cover 5.1.4 or 5.1.7 one of the Insureds has been repatriated or transferred because of illness, accident or death and this prevents the other accompanying parties from continuing the trip, the Insurer will assume payment of the transport of up to two accompanying parties to his or her home address or to the place of hospitalisation provided that they are included in this policy or in the absence thereof in another policy of the insurer ARAG (that includes cover for repatriation of accompanying parties) for the same trip.

When the accompanying parties are family (as defined in these general conditions) the limit of 2 insured accompanying parties detailed above will not be applied.

ARAG may be subrogated in the rights of the insured with regard to the travel tickets purchased and not used in accordance with that established in article 10 of these general conditions.

5.1.9 Repatriation or transfer of minors

If, in applying cover 5.1.4 or 5.1.7, the repatriated or transferred Insured should be travelling solely in the company of minors of under fifteen years old or mentally or physically disabled persons, who have Insured status in accordance with that established in this policy, ARAG shall organise and pay for the return travel of a stewardess or a person designated by the Insured, in order to accompany the children or the disabled persons back home.

5.1.10 Curtailment due to the death or hospitalisation of a family member

If any of the Insureds has to interrupt his or her journey because of the death, or hon.

Curtailed journeys that are not requested or have not been organised by ARAG shall not be reimbursed.

5.1.11 Curtailment due to a serious incident at the home or workplace of the Insured

ARAG shall provide the Insured with a transport ticket to return to his or her usual home address, from which the insurance was contracted, if he or she has had to interrupt the journey because of serious damage to the main residence or workplace of the Insured where he or she is the direct user or exercises his or her profession, and where this damage is caused by fire, provided this has required the attendance of the fire brigade, theft which has been reported to the police, or serious flooding which requires his or her attendance and cannot be resolved by immediate members of the family or trusted colleagues, providing the event has taken place after the date on which the journey began. Likewise, ARAG shall pay for a two tickets to transport the persons accompanying the Insured on his or her trip whose same trip has been curtailed, provided that these two people are also insured by this policy.

5.1.12 Shipment of medicines abroad

If, while abroad, the Insured needs medication that is unavailable, ARAG shall undertake to source it and send it by the quickest method and in compliance with local legislation. Cases in which the medication is no longer manufactured and is not available via the normal distribution channels in Spain are excluded.

The Insured shall be required to reimburse the Insurer with the cost of the medication on presentation of the purchase invoice for the said medication.

5.1.13 Transmission of urgent messages.

ARAG undertakes to send urgent messages as instructed by the Insureds as a result of claim events covered herein.

5.1.14 Sending of a professional driver

If, as a result of accident, illness or death to the INSURED and when the Insured neither he or she nor any of his or her accompanying parties is fit to drive and this should prevent return to his or her usual home address, the INSURER will provide a professional driver who will drive the vehicle to said home address.

The INSURER will assume the payment only of the expenses arising from the professional driver and not any other.

5.2.1 Theft and material damage to luggage

Compensation will be provided for material damage to and loss of the luggage or personal effects of the Insured person in cases of theft, total or partial loss attributable to the transport company, or damages through fire or aggression occurring during the period of the trip, to a maximum of 500 euros, or that indicated in the specific conditions or voucher or certificate issued by Internet

Cameras and photographic, radiophonic, sound or image recording equipment and any accessories, are included to a value of 50% of the sum insured for all luggage.

Robbery and simple loss attributable to the Insured him- or herself, as well as jewellery, money, documents, items of value and sports and computer equipment are excluded.

For the purposes of the above exclusion, the following shall be understood- Jewellery: any items of gold, platinum, pearls or precious stones.

- Items of value: items in silver, paintings and works of art, any type of collections and fine fur objects.

For the provision to take effect in the event of robbery, it shall first be necessary to present the report made before the competent authorities at the site the events occurred; and for claim events caused by the transport company, the incident form and proof of non-recovery of luggage 30 days after the loss thereof must be provided.

5.2.2 Delay in the delivery of luggage in transit

ARAG will assume payment, up to a limit of 100 euros, upon presentation of the respective invoices, for the purchase of primary need articles or hire of skis arising from a delay of 24 hours or more in the delivery of the luggage in transit or when a night has passed between the envisaged and real delivery times. Under no circumstances may this compensation be combined with the “Theft of and material damage to luggage” compensation covered in Article 5.2.1.

To receive the provisions of this cover, the Insured must provide the Insurer with documentary evidence, issued by the carrier, confirming the delay and its duration.

5.2.3 Search for, localisation and shipment of missing luggage

In the event of misplacement of luggage on scheduled flights or on an IATA affiliated airline, ARAG shall use all its resources to locate it and shall keep the Insured updated on the status and, if appropriate, send it on to the beneficiary at no charge to the latter.

5.3 Delays and missed services:

ARAG shall reimburse the expenses or damages incurred because of any circumstances described and covered in the following sections that affect the services contracted by the Insured on his or her trip with the Wholesale Agency or retailer.

Excluded are circumstances of social conflict and those cases detailed in the Article on Exclusions in Assistance for People.

5.3.1 Reimbursement of ski pass and classes contracted

In the event that accident or illness prevents the INSURED from performing the activities covered in the remaining days guaranteed by the policy, the INSURER will reimburse the injured or ill INSURED the proportional unused part of the cost of the instructor and/or the ski pass acquired, up to a limit of 30 euros each day and a maximum of 300 euros for each of the guarantees detailed.

5.3.2 Delayed outward journey

If the departure of the public transport chosen by the Insured is delayed for a minimum of 6 hours, against presentation of the relevant receipts and invoices, ARAG shall reimburse the additional hotel, maintenance and transport expenses resulting from the delay, up to a maximum limit of 25 euros. It will pay a further 25 euros, up to a maximum limit of 15 euros, for every 6 hours or more, under the same conditions indicated in the above paragraph.

5.3.3 Extra nights at a hotel or compelled extension of trip prior to arrival at destination

When, due to causes not attributable to the organiser of the trip (meteorological causes, social cancellations, breakdown of transport, border closure, wars or similar situations) the INSURED must remain in the same place after the start of the trip, unable to spend the night at the hotel reserved at destination, the INSURER will assume payment, against presentation of invoices, of the hotel expenses arising from this situation, for up to 75 euros per day and with a maximum limit of 150 euros.

5.3.4 Compelled extension of trip upon completion of the stay

When, due to causes not attributable to the organiser of the trip (meteorological causes, delay of the means of transport, cancellations, breakdowns of the means of transport), the INSURED must remain immobile in the place of destination upon completion of his or her trip, the INSURER will assume the cost, against presentation of invoices, of the expenses arising because of this situation, up to a limit of 75 euros per person and day and with a maximum limit of 150 euros.

5.3.5 Missed services contracted

If, as a result of breakdowns or delays in transport or of adverse weather conditions or force majeur, the Insured misses some of the services initially contracted, such as: outings, accommodation, meals or any similar circumstance, ARAG shall pay up to 75 euros per day and up to a maximum of 150 euros for this loss, depending on the damages incurred.

In the event of visits to several places or monuments, making over half the number of visits planned on the itinerary must be impossible or hindered in order to be entitled to compensation.

5.3.6 Change of services initially contracted

In the event of overbooking or last minute cancellations of airline tickets and hotel bookings not attributable to the agency, ARAG shall pay each Insured person as per the following scale:

- Unforeseen delay in flight departure: ARAG shall pay 37,50 euros for every 6 full hours of delay, up to a maximum limit of 150 euros.

- Departure of an alternative, unforeseen form of transport: ARAG shall pay 30 euros for every 6 full hours of delay, up to a maximum limit of 150 euros.

- Change of hotel / apartment: ARAG shall pay 37,50 euros per day for the change of hotel or apartment, provided that it is of a lower category than that initially planned, up to a maximum of 150 euros, wherever this circumstance can be proven through the presentation of the documents relating to the purchase of the trip and those corresponding to the hotel eventually used.

Payment of compensation in application of points 5.3.2 to 5.3.6 of this cover may not be combined with other compensation received based on cover included in the section “Delays and missed services".

As it is payment of compensation cover, the Insurer is subrogated in the actions and rights of the Insured to the limit of the amount paid, to claim against the party responsible for the delays arising and for the change in category of the hotel booked.

Events of social conflict and those cases detailed in the Section on Exclusions in Assistance for People are excluded.

5.3.7 Missed connecting flights because of late arrival of transport

Not included

5.4.1 Travel cancellation expenses

Not included.

5.4.2 Refund for missed holidays

Not included.

6. What CIRCUMSTANCES and PAYMENTS are EXCLUDED?

Except with regard to the TRAVEL CANCELLATION EXPENSES detailed in article 5.4.1, The cover agreed does not include:

a) Acts deliberately caused by the Insured or those involving fraud or gross negligence by the Insured.

b) Pre-existing chronic ailments or illnesses and their consequences affecting the Insured prior to the start of the trip.

c) Death by suicide or injuries or illnesses caused in the attempt thereof or intentionally self-inflicted by the Insured, and those deriving from a criminal undertaking by the Insured.

d) Illnesses or pathological states induced by the ingestion of alcohol, psychotropic substances, hallucinogenic substances or any drug or substance of a similar nature.

e) Beauty treatments and the supply or replacement of hearing aids, lenses, spectacles, ortheses or prostheses in general, and any type of mental illness.

f) Also excluded are claims deriving directly or indirectly from complications occurring from the seventh month of pregnancy.

g) Claims deriving directly or indirectly from events caused by nuclear energy, radioactive radiation, natural catastrophes, warlike actions, riots or terrorist acts.

h) Any type of medical or pharmaceutical expense less than 9 euros.

i) Injuries or illnesses resulting from the Insured participating in wagers, competitions Activities pursued at over 3,000 metres, air sports and sport hunting are expressly excluded.

j) All expenses arising from cancellations of sea cruise trips.

7. What are the LIMITS of this policy?

ARAG shall assume the indicated costs within the specified limits and up to the maximum contracted sum for each case. If the events have the same cause and have occurred at the same time, they shall be considered as a single claim event.

ARAG shall be obliged to pay for the service, unless the claim event was caused by the dishonesty of the Insured.

For cover requiring the payment of a cash sum, ARAG is obliged to issue compensation at the end of the investigations and surveys necessary to establish the existence of the claim event. In any event, ARAG shall pay, within 40 days from receipt of the claim declaration, the minimum amount of what it may owe, according to the circumstances with which it is acquainted. If, within a period of three months from the occurrence of the claim event, ARAG has not awarded said compensation without justifying the reason or for reasons attributable to it, the compensation shall increase by 20% per year.

8. How, when and where must a CLAIM EVENT be DECLARED?

Upon the occurrence of a claim event that may give rise to the services covered, the Insured must, without exception, call the emergency telephone service provided by ARAG, indicating the name of the Insured, the policy number, the place and telephone number of his or her location, and the type of assistance needed. This call may be made via reverse charge.

9. Additional provisions

The Insurer shall assume no obligation with regard to services that have not been requested of it or that have not been rendered with its prior agreement, except in cases of duly evidenced force majeure.

Whenever, in the provision of the services, it is not possible for ARAG to intervene directly, it shall undertake to refund the Insured with the duly receipted expenses deriving from such services, within a maximum of 40 days from presentation of such receipts.

10. How is ARAG SUBROGATED?

To the extent of the sums outlaid in compliance with the obligations deriving from this policy, ARAG shall be automatically subrogated in the rights and actions which may correspond to the Insureds or their heirs and other beneficiaries, against natural or legal third parties, as a consequence of the claim event that gives rise to the assistance provided.

In special cases, this right may be exercised by ARAG against companies providing transport by land, river, sea or air, with regard to the total or partial refund of the cost of the tickets not used by the Insured parties.

11. When do the MEASURES deriving from the insurance contract EXPIRE?

The actions arising from the insurance contract become legally unenforceable within a period of two years with effect from the time they could have been exercised.

12. Note

If the contents of this policy differ from the insurance proposal or from the agreed clauses, the insurance Policyholder may complain to the Company within a period of one month with effect from the issue of the policy, so that the discrepancy may be rectified. At the end of this period, if a complaint has not been made, the provisions of the policy shall prevail.

ADDITIONAL PUBLIC LIABILITY INSURANCE

DEFINITIONS:

Sum Insured: The sums stipulated in the General and Specific Conditions, the maximum limit of compensation to be paid by the Insurer in the event of a claim event.

Obligations of the Insured: In the event of a Public Liability claim event, the Policyholder, the Insured or his or her dependents must not accept, negotiate or reject any claim without the express authorisation of the Insurer.

PAYMENT OF COMPENSATION:

a) The Insurer is obliged to pay compensation at the end of the investigations and surveys necessary to establish the existence of the claim event and, if appropriate, the amount resulting therefrom. In any event, the Insurer must pay, within forty days from receipt of the claim declaration, the minimum amount that the Insurer may owe, according to the circumstances with which it is acquainted.

b) If, within a period of three months from the occurrence of the claim event, the Insurer has not proceeded to repair the damage or compensated the amount thereof in cash without substantiation of the reason or for reasons attributable to it, the compensation shall increase by a percentage equivalent to the legal interest on the money at that time, plus 50%.

INDIVIDUAL PUBLIC LIABILITY INSURANCE

1. Individual Personal public liability

The Insurer shall be responsible for financial compensation of up to 60,000 euros which, without constituting an individual penalty or additional liability penalty, may be demanded from the Insured Person pursuant to Articles 1.902 to 1.910 of the Spanish Civil Code, or similar provisions provided by overseas legislations and which the Insured Person may be obliged to pay, through being liable for physical injuries or material damages caused accidentally and directly to third parties or their animals or belongings.

This limit shall include the payment of any legal costs and disbursements, together with any legal bonds required from the Insured.

2. EXCLUSIONS

This cover does not include:

a) Any type of Liability incurred by the Insured through the driving of motor vehicles, aircraft, vessels, and through the use of firearms.

b) Civil Liability deriving from any professional, trade union, political or associative activity.

c) Fines or penalties imposed by Courts or any class of authority.

d) Liability deriving from the practice of professional sports and sports of the following types, even if solely at amateur level: mountain climbing, boxing, bobsleighing, potholing, judo, parachuting, hang-gliding, gliding, polo, rugby, shooting, yachting, martial arts, and any activities conducted with a motor vehicle.

e) Damage to objects entrusted to the Insured for whatever reason.

ADDITIONAL PUBLIC LIABILITY INSURANCE

As teachers or guardians are among the insured group, the following are also covered:

2. Public Liability for teachers, guardians or instructors

The Insurer shall be responsible for financial compensation up to the limit of 60,000 euros indicated in the Specific Conditions which may be demanded from the Insured pursuant to Articles 1.902 to 1.910 of the Spanish Civil Code, or similar provisions envisaged in overseas legislations and which the Insured person may be obliged to pay as the leader of the group of students whom he or she is accompanying on the journey, in matters of public liability for physical injuries or material damages caused accidentally and directly to third parties, their animals, or their belongings.

This limit shall include the payment of any legal costs and disbursements, together with any legal bonds required from the Insured.