The object of mortgage insurance is the property interest of the Policyholder in receiving compensation from the value of the insured property that the Policyholder owns, uses, or disposes of.

The insured property includes immovable property, the movement of which would cause disproportionate damage to its intended purpose, including property owned, managed, or used by individuals or legal entities: buildings, structures, residential houses, apartments, other property complexes, and other property classified as real estate under the law of Turkmenistan.

Insured events include the following, resulting in damage to the insured property:

• Fire or other damage caused by fire;

• Natural disasters (earthquake, underground fire, landslide, rockslide, lightning strike, mudflow, storm, whirlwind, hurricane, flood, inundation, flooding due to rising groundwater, etc.);

• Water damage from plumbing, sewerage, heating systems, or fire-extinguishing systems;

• Falling of manned flying objects or their debris;

• Damage caused by malicious acts of third parties.

Damage from heat or fire that did not arise from an actual fire, as well as damage caused to the insured property due to processing with fire, heat, or other thermal effects for processing or other purposes, is not covered by insurance and is not subject to compensation.

The specific list of insured events, which obliges the Insurer to pay insurance indemnity to the Policyholder, is determined in the insurance contract.