Agents Hand Book 2017

TABLE OF CONTENTS
R No Topic Sub Topic Page No

FIRE/FLOP Fire 9
AND IAR
General Rules & Regulations 9
Types Of Fire Policies 13
Dwellings, Offices, Hotels, Shops Etc. Located 16
Outside The Compounds Of Industrial /
Manufacturing Risks (Section III)
Industrial / Manufacturing Risks (Section IV) 18
Utilities located outside the compound of Industrial 26
/ Manufacturing Rules Sec V
Storage Risks Located Outside The 27
Compounds Of Industrial / Manufacturing
Risks (Section VI)
Tank Farms / Gas Holders Located Outside The 29
Compound Of Industrial / Manufacturing Risks
(Section VII)
Add on Covers 30
Fire Loss of Profits 38
Industrial All Risks 43
ENGINEERING Contractors Plant and Machinery 49
Machinery Breakdown 51
Electronic Equipment Insurance 55
Boilers and Pressure Plant Insurance 58
Deterioration of Stocks Insurance 60
Contractors All Risks 62
Erection All Risks 71
Advance Loss of Profits 87
Machinery Loss of Profit Policy 88
MARINE Marine Cargo 89
Non Institute Clauses 109
Cargo Claims 113
Marine Hull 115
MOTOR Motor Insurance 137
Add on Cover 139
General Guidelines 144
Private Cars 147
Two Wheelers 148
Commercial Vehicles 150
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Motor Trade (Road Transit Risk ) 159
Motor Trade (Road Risk)
Motor Trade (Internal Risk) 161
FAQs and Dos and Dont’s 165
Motor TP Claims (MACT) 171
Latest Developments in Motor Insurance 171
MISCELLANEOUS
INDIVIDUAL All Risk Insurance 172
Baggage Insurance 174
Bankers Indemnity Insurance 176
Burglary Business Premises Insurance 180
Fidelity Guarantee Insurance 183
Jewellers Block Insurance 185
Money Insurance 188
Pedal Cycle Insurance 191
Lift Insurance 192
Petrol Pump Insurance 193
Plate glass Insurance 194
Signs Insurance 194
Home Loan Suraksha bIma 195
Golfers Insurance 198
Shishu Suraksha Insurance 200
Television VCR and Video Equipment 201
MISCELLANEOUS
PACKAGE Householders Insurance 202
Sampoorna suraksha Bima 205
Shopkeepers Insurance 208
Vyapar Suraksha Bima 211
Office Package Insurance 214
Doctors Package Insurance 218
Hotel Motel and Restaurants Package 220
LPG Traders Package 222
Special Contingency Policy 223
Customs Duty Package Policy 225
MISCELLANEOUS
LIABILITY Carriers Legal Liability 227
Employees Compensation 228
Public Liability (Act ) 235
Public Liability (Industrial and Non Industrial 237
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Product Liability 239
Professional Indemntiy 240
Commercial General Liability 246
Directors and Officers Liability 249
Cyber Liability 255
MISCELLANEOUS
HEALTH National Mediclaim Policy 257
National Mediclaim Plus Policy 260
Comparision of National Mediclaim and Mediclaim 262
Plus
Vidyarthi Mediclaim 264
Varishta Mediclaim 265
Parivar Mediclaim 267
National Parivar Mediclaim 269
National Parivar Mediclaim Plus 272
Comparision of Parivar Policies 276
BOI Swasthya Bima 278
Baroda Health Policy 279
Standard Group Mediclaim Policy 280
Tailormade Group Mediclaim 281
Critical Illness Insurance Policy 282
Overseas Mediclaim 284
MISCELLANEOUS
PERSONAL Personal Accident Individual 288
ACCIDENT
Personal Accident Group 291
Janta Personal Accident 292
PA for School Children 293
Student Accident Welfare Policy 294
Amartya Sikshya Yojana 296
Traffic Accident policy 297
Suhana Safar 298
Travelleing Executives Policy 299
Pravasi Bharatiya Bima Yojana 301
MISCELLANEOUS
RURAL Animal Driven Cart 304
Aquaculture (Shrimp/Prawn) Insurance 305
Coconut Plantation 307
Dog Insurance 309
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Duck Insurance 311
Elephant Insurance 312
Farmer's Package insurance 313
Inland Freshwater Fish Insurance 316
Kisan Agricultural Pumpset Insurance 317
Rabbit Insurance 318
Silkworm(sericulture Insurance) 318
MISCELLANEOUS
Micro National Micro Gramin Suswasthya Bima 320
National Micro JPA 321
National Micro Gramin Suraksha Bima 322
National Micro Universal Health Insurance 324
Rajrajeshwari Mahila Kalyan Bima 326
Bhagyashree Child Welfare Policy 328
National Micro Agricultural Pumpset Insurance 329
Policy
National Micro Cattle Insurance Policy 330
National Micro Pig Insurance Policy 332
National Micro Poultry Insurance Policy 334
National Micro Camel Insurance Policy 336
National Micro Horse Insurance Policy 338
National Micro Sheep & Goat Insurance Policy 340
Pradhan Mantri Fasal Bima Yojana 342
A Word to the Agent 347
New Distribution Channels 364
Underwiting Acceptance Limits 369
Short Period Rates 378

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keÀs. meveLe kegÀceej
DeO³e#e-men-ÒeyebOekeÀ efveosMekeÀ
I am glad to know that our Mumbai team is bringing out a Handbook intended to assist
especially those in selling of our Company's policies, updated till August 2017.
Opportunities in selling Non-Life products are growing manifold by the day. Therefore a
reference book that will assist those in the field with knowledge about your products,
would be an enabling tool for the salesperson. An informed customer is an asset for the
Company; explaining the product properly prevents mis-selling which reduces customer
grievances.
I understand that many ROs have expressed their desire to get copies of this handbook for
the use of their field force. I wish that the endeavour helps our operating offices to hold
regular briefing sessions on products for their Agents and other intermediaries to enhance
everyone's knowledge.
I Congratulate NIC Mumbai Team for this endeavour.
With all best wishes,
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FOREWORD
The Agents are the direct link between the Customer and the Company. They are in the fore-
front in marketing the Company’s products particularly in the Retail Segment. To carry out
business effectively and to generate more premium we need to support and encourage the
Agents to gain and be updated in product knowledge; and it was felt that they be equipped
with the up-to-date information on the various products of the Company with applicable
guide rates. As a result of the ever changing market dynamics, changes take place in the
underwriting considerations in all Depts - Fire, Engineering, Motor, Marine, Health & other
Miscellaneous Policies - and it was high time that a Hand Book be revised and printed afresh.
This NICian HAND BOOK is an updated version of the Agents’ Handbook brought out by
Bangalore Regional Office in 2010. While assisting as an Agent’s guide, in this venture our
intention is that the book assists our personnel in operating offices who interact directly
with intermediaries and customers to use this as a quick-reference material; also enable an
employee in the operating office to hold training sessions for our Agents on the basics of our
Products. This handbook does not contain the complete terms and conditions of policies,
but has the essential information to discuss with a prospect and quote against most type of
proposals. Efforts have been made to incorporate almost all Products of the Company in-
cluding some topics in the growing Liability segment like D&O, CGL; a brief on Non-Institute
Marine clauses, difference between 1982 and 2009 Institute Clauses; a comparison of the
various individual Health policies; write-ups on PMFBY and some of the new Marketing initia-
tives; the latest guide Rates, underwriting Guidelines and amendments including Acceptance
limits. In the present competitive scenario, the market trend is volatile and products and rates
are subject to frequent changes. It would be advisable that the rates, terms and conditions
be confirmed from the respective Administrative/Controlling Office before finalising quota-
tions that require special attention.
I take this opportunity to express my gratitude for the collective effort that resulted in this
book - the entire Technical Dept of Mumbai GMO and MBRO II who took a lot of efforts
in collecting and editing the material; Officers from other ROs like Bangalore (Mrs Mahua
Nandi, Mrs Chella Ashok Kumar, Dr.MRP Mukund), Chennai RO (Mr Job Jawahar Babu) -
who contributed their time and efforts in improving the book; and Mr S.Pain and his team in
MCRO who completed the printing formalities. A special mention has to be made about the
designer of the cover page – Mr. Manabendra Ghosh of HO Investment Dept – our inhouse
talent who did the meaningful caricature as per the ideas given.
Every effort has been taken to see that correct information is included in the book. Still if an-
yone comes across any errors, please bring it to our attention immediately so that necessary
corrective steps can be taken.
My Best Wishes to all !

GMO Mumbai John Pulinthanam
29th August 2017. Director & General Manager.
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Our thanks to
Sr.No. Names
1 Mr. Amitava Bhattacharya
2 Mr. K K Raina
3 Ms. Gayathri Iyer
4 Ms. Veena Ahir
5 Mr. Pradeep Chettiar
6 Ms. Sonali Rath
7 Ms. Sanober Umrigar
8 Mr. Deepak Achrekar
9 Ms. Kavitha Londhe
10 Ms. Antara Margaj
11 Ms. Vidhi Tawalramani
12 Ms. Vidya Pethe
13 Ms. Nilima Rajadhakshya
14 Ms. Saba Gulrez
15 Ms. Neha Arora
16 Mr. Priyadarshi Samantray
17 Ms. Tanvi Naik
18 Mr. V Sudhakar
19 Mr. Sumedh Dhabarde
20 Mr. Gaurav Dhapodkar
21 Ms. Ann Mathew
For their contribution in the preparation of this Book

GM Office, Mumbai
National Insurance Building,
3rd Floor, 14, J.T.Road,
Mumbai- 400 020.
Ph: 22044508 / 22044509
Fax: 22044510
-8-
FIRE, FLOP & IAR INSURANCE
Introduction to SFSP Policy
Fire Insurance is an important portfolio of every general insurer. It is equally important for
all its consumers ranging from small shopkeepers to mega industrial complexes. Though
commercial organizations are exposed to various kinds of pure risks, fire Insurance is the
most preferred insurance cover by all financial institutions as collateral security against
finance made by them.
Fire insurance is traditionally transacted not as a Standalone Fire insurance product, but as
a package covering certain allied perils including Special Perils like Strikes, Riot, etc. and
Act of God (AOG) perils likes Flood, Earthquake, etc. Accordingly the prevalent fire policy in
Indian market is known as Standard Fire and Special Perils Policy.
Sections Of The Erstwhile Fire Tariff (Still Followed):

Total no.of sections = 8
Section I - General Rules & Regulations
Section II- Standard Fire & Special Perils Policy
Section III – Rating of simple risks Eg. Dwellings/ Shops/Offices/Hospitals/ Educational

Institutions
Section IV - Rating of Industrial and Manufacturing Risks
Section V - Rating Of Stand-alone Utilities Located Outside Industrial And Manufacturing

Risks Eg. Boiler House, Pump House and Pipe Lines, Analytical Laboratory, Electric
Substation, etc.
Section VI - Storage risks outside the compound of industrial /manufacturing risks- rates
provided according to the type of goods--hazardous, non-hazardous, etc.
Section VII -Tanks Farms/Gas Holders outside the Compound of Industrial/ Manufacturing
Risk
- Storage Of Liquefied Gas

- Liquids/Chemicals /Oil
- Inflammable Liquid/ Gas
Section VIII - Add-On Covers
General Rules & Regulations (Section I)

1. Policy
a. Only Standard Fire and Special Perils Policy with the permitted “Add-on” covers, if any
can be issued. Unless otherwise specifically provided for, this Guide Rate is applicable
to land-based properties only.
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b. The wordings of the Policy are as shown in Section II of the Guidelines
c Proposal form completely filled in and duly signed by the Proposer/ Client is
compulsory.
d Policy/ies should be read together with Proposal Forms, Schedule, specification,

endorsement, warranties and clauses as one Contract
e Unless otherwise specifically provided for the Policy (ies) covering Buildings and/or
contents shall show blocks separately with amounts on
(i) Buildings
(ii) Machinery and accessories
(iii) Stock and Stock in process and
(iv) Furniture and other contents
f It is permissible to exclude Storm, Tempest, Flood and Inundation group of perils

and/or Riot, Strike, Malicious Damage perils at inception of the Policy by deleting the
relevant perils from the Policy. The deletion shall apply for the entire property in one
compound/ complex/ location covering the entire interest of the Insured under one or
more policy (ies) without any option for selection.
g Any risk, which has not been provided for in the Guide Rate, shall be referred to RO/
HO for rating. Provisional rate of Rs. 2.50 per mille shall be charged in such cases for
covering the risks under Standard Fire and Special Perils Policy. No discounts and/ or
Agency Commission shall be allowed on this rate.
h Rates shown in the Schedule are Guide rates. Discounts can be given subject to
Approval as per the guidelines and subsequent revisions.
i For Add on Covers, additional rates provided in the Guide Rates shall be charged.
j Policies for a period exceeding 12 months shall not be issued except for “Dwellings/
Flats”
2. Valued Policies
Valued Policies can be issued only for properties where Market Value cannot be
ascertained e.g., Curios, Works of Art, Manuscripts, Obsolete machinery and the like,
subject to valuation certificate being submitted and found acceptable by the Insurers.
3. Payment Of Premium
Premium shall be paid in full at inception before commencement of risk and shall not
be accepted in installments or by deferred payments in any form. It is not permissible
to split Sum Insured of the same property under various policies for different periods
of insurance to derive advantage of deferred installment for payment of premium.
4. Minimum Premium
Minimum Premium shall be Rs. 100/- per policy except for risks ratable under Section
III and “Tiny Sector Industries” under Section IV in which cases the Minimum Premium
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shall be Rs. 50/- per Policy.
5. Mid-Term Cover (Except RSMD & Terrorism)

Generally, it is not permissible to grant mid-term cover for STFI and/ or RSMD perils.
Where such cover is granted guideline provisions apply.
6. Partial Insurance
It is not permissible to issue a policy covering only certain portions of a building.
Notwithstanding this, the plinth and foundations or only foundation of a building may be
excluded.
It is further not permissible to issue a policy covering only specified machinery (except
Boilers), parts of machine or accessories thereof housed in the same block/ building.
7. Rate For Short Period Insurance

Policies for a period of less than 12 months shall be issued at the rates set out for Short
period Insurance. Please refer separate Sheet at the end of this book for Short Period
Chart.
N.B : Extension of short period policies shall not be permitted.
8. Rules For Cancellation
A. For Cancellation of insurance policy at the option of the insured: -

a) Retention of premium shall be at Short Period Scale for the period the policy has
been in force, subject to the retention of minimum premium by the Underwriting
office.
b) During the currency, if a policy is replaced with us by a new annual one covering
the identical property, refund of premium may be allowed on pro-rata basis at the
original rates for the sum insured replaced.
c) For the sum insured not replaced, refund must be calculated after charging
premium at short period scale on such sum for the time the insurance has been
in force subject to retention of the minimum premium by the Underwriting office.
d) In case of short period policies, premium shall be retained at the applicable short
period scale.
N.B.:- In case a policy is cancelled on account of a Government Order or on completion
of a “Building in course of construction” or where Buildings are demolished, pro-
rata refund of premium may be allowed.
B. For cancellation of the Insurance Policy at the option of the Underwriting office, refund
of premium shall be on pro-rata basis for the unexpired term.
9. Loading For “Kutcha” Construction
Building(s) having walls and/or roofs of wooden planks/thatched leaves and/or grass/
hay of any kind/bamboo/plastic cloth/asphalt cloth/canvas/ tarpaulin and the like shall
be treated as “Kutcha” construction for rating.
An additional rate of Rs. 3.00 per mile shall be charged for such building(s) and/or
contents thereof.
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10. Mid-Term Revision In Sum Insured
• Increase in sum insured: On pro-rata basis
• Decrease in sum insured: On short-period basis
11. Escalation Clause (Not For Stock)

Under this clause, Sum Insured on respective items will be automatically increased
proportionately from the date of commencement of the policy to the date of loss based
on the selected percentage.
Increase shall not exceed more than 25% of Sum Insured.

The additional premium will be at 50% of the full rate on such selected percentage
increase and to be paid in advance. This clause will not apply to policies covering
Stock.Pro-rata condition of Average will apply.
12. Rating Of Risks In Multiple Occupancy Industrial Estate

Risks in Multiple Occupancy Industrial Estates shall be rated ‘Per Se’. If the entire
building of the Industrial Estate is insured under one sum insured, a rate of Rs. 1.50%
(per mille) shall be charged to the ‘Building’.
13. Silent Risks

Risks rateable under Sections IV and V are allowed silent rates as per the following
table.
Factories where no manufacturing Retention of the premium shall be based
/ storage activities are carried out on the appropriate storage rate or silent
continuously for 30 days or more. risk rate of Rs.0.60%o (Rs 1.00%o as per
erstwhile AIFT) whichever is higher for the
silent period.
Note:
1. The silent rates are not applicable if a risk goes silent following a loss under the policy.
2. The deletion facility for STFI / RSMD perils in respect of “Silent Risks”, it is permissible
to exclude STFI / RSMD perils at the inception of the policy only in case of risks
rateable under Section IV and V of these guidelines.
14. Rating Pattern Under Fire Policy

a. Rate: Based on nature of the particular risk, identify the class to which it belongs e.g.
an industrial unit or a storage risk
b. Find out the applicable erstwhile AIFT rate
c. Less: Rate for deletion of STFI
d. Less: Rate for deletion of RSMD (If opted)
e. Add: Loading for Kutcha Construction (If applicable)
f. Add: Premium for ADD on covers if opted for
g. Less: De-tariff discount as sanctioned by Competent Authority
h. Add: Premium for STFI, Earthquake, Terrorism
- No discounts are allowed on STFI, Earthquake & Terrorism covers.
- No discount is to be allowed in lieu of Agency Commission/Brokerage in case of
Direct Business.
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Types Of Fire Policies
1) Floater Policy
Floater Policy (ies) can be issued for stocks at various locations under one Sum
Insured.
Note: Unspecified locations shall not be allowed.

Rating: The rate shall be the highest rate applicable to Insured’s stocks at any location
with a loading of 10%. If stock situated within godown, process blocks in same
compound are covered floater extra is not applicable.
2) Declaration Policy
To take care of frequent fluctuations in stocks/stock values, Declaration Policy(ies) can
be granted subject to the following conditions.
a) The minimum sum insured shall be Rs. 1 crore in one or more locations and the sum
insured shall not be less than Rs. 25 Lakhs in at least one of these locations.
b) Monthly declarations shall be submitted by the Insured latest by the last day of the
succeeding month. Declaration have to be either on Average of values on each day or
highest value on any day during the month.
c) If declarations are not received within the specified period, the full sum insured under
the policy shall be deemed to have been declared.
d) Reduction in sum insured shall not be allowed under any circumstances.
e) Refund of premium on adjustment based on the declarations/ cancellations shall not

exceed 50% of the total premium.
f) The basis of value for declaration shall be the Market Value anterior to the loss.
g) It is not permissible to issue declaration policy in respect of :-

Short period policies
Stocks undergoing process
Stocks at Railway sidings.
Retail Stocks.
If after occurrence of any loss it is found that the amount of last declaration prior to the
loss is less than the amount that ought to have been declared, then the amount which
would have been recoverable by the Insured shall be reduced in such proportion as the
amount of said last declaration bears to the amount that ought to have been declared.
3) Floater Declaration Policies

Floater Declaration policy (ies) can be issued subject to a minimum sum insured of
Rs. 2 Crores and compliance with the Rules for Floater Policies and the Declaration
Policies, respectively. Minimum retention shall however be 80% of the annual premium.
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Standard Fire & Special Perils Policy (Section II)
A) Scope Of Cover Under Standard Fire And Special Perils Policy

Sr. No. Peril Excluding loss/damage due to
1 Fire Own fermentation, natural heating,
spontaneous combustion, undergoing heating/
drying, burning by Public Authority
2 Lightning –
Own explosion/implosion of non- domestic
3 Explosion/ Implosion
boilers, etc. or centrifugal forces
4 Aircraft Damage Pressure waves.
5 Riot, Strike, Cessation of work, confiscation,
Malicious Damage commandeering, requisition or destruction
by lawful Authority, dispossession resulting
from unlawful occupation, Burglary,
housebreaking, theft, larceny etc.
6 Storm, Cyclone, –
Typhoon, Tempest,
Hurricane, Tornado,
Flood & Inundation
7 Impact Damage Impact by Vehicle/Animal owned by Insured/
Occupier of premises or used by their
employee in course of employment
8 Subsidence and Land slide Normal cracking, settlement, bedding, coastal
and Rock slide erosion, faulty design, workmanship, material,
demolition, construction, alterations or repair of
structure
9 Bursting and/or over- –
flowing of Water
Tanks, Apparatus
and Pipes
10 Missile Testing –
Operations
11 Leakage from Repair/Alteration/Removal/Extension of
Automatic Sprinkler Building/Sprinkler System or known
Installations construction defects
12 Bush Fire Forest Fire
B) General Exclusions: As per policy

Excess/ Deductibles (applicable w.e.f. 01.04.2011)
For Standard Fire and Special Perils Policy (except dwellings with individual owners)
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Sum Insured Upto 10 cr >10-100 cr >100-1500 > 1 5 0 0 - > 2 5 0 0 c r /
per location cr 2500 cr Mega Risks
Deductible- 5% Rs.10000 Rs.25000 Rs.5 lakhs Rs.25 lacs Rs.50 lakhs
of claim amount
subject to a
minimum of
NOTE: For Floater and Floater Declaration stock policies the minimum deductible will be 5%
of claim amount subject to a minium of Rs.50,000/-
C) General Conditions
Condition No.
Description
1. Misrepresentation, non-disclosure of material facts by the insured makes
the policy voidable
2. Cessation of cover on fall or displacement (other than by an insured peril)
of insured property on expiry of 7 days
3. Cessation of cover on material alteration, if unoccupied for more than 30
days or passage of insurable interest
4. Loss covered under any marine policy is not payable
5. Cancellation
6. Duties of the Insured in the event of an occurrence giving rise to a claim
7. Rights of the Insurer in the event of a claim
8. Fraudulent means by Insured forfeits all benefits under the policy
9. Insurer’s rights to reinstate or replace the property in case of a claim
10. Average clause
11. Contribution
12. Subrogation
13. Arbitration
14. All communications by insured to be in writing
15. Reinstatement of Sum Insured after a claim
Important Note On Rating

1. The rates given below are as per the Erstwhile Tariff. To arrive at the guide rates,
discount upto 25% can be given. For higher discounts please contact the respective
acceptance authority in BO/DO/RO.
2. For Loss Cost rating for 109 occupancies under sections III, IV, V, VI & VII (risk codes
marked as * under rate schedule) refer HO Circular Ref.:HO/Tech/Fire/2016-17 dated
29.06.2017 - Pricing of Fire Risks w.e.f 01.07.2017.
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Dwellings, Offices, Hotels, Shops etc. (Section III)
Rules
1. The ‘Buildings’ and ‘Contents’ of risks rateable under this Section shall be rated ‘per
se’.
2. Stocks belonging to the insured stored in the open area adjacent to the insured’s
premises are held covered.
3. Incidental operations such as grinding of lenses in optical frame shops, polishing and/
or varnishing in furniture shops, occasional repairs etc. are permitted.
4. For seasonal storage of crackers during the currency of the policy in ‘Shops dealing
in goods otherwise not provided’, a loading of 10% shall be charged on the rates
applicable to ‘contents’.
5. The presence of hazardous goods (as per list attached) not exceeding 5% of the total
value of the stock may be ignored.
6. The reduction in premium rates for deletion of STFI and / or RSMTD perils at the
inception of the policy shall be as under :
STFI Re. 0.15%o
RSMTD Re. 0.10%o
7. Long Term Policy for Dwellings : -
Long Term Policies shall be issued based on either of the following 2 methods subject
to the conditions below to house/flat owners only:
a) The policy shall be issued for a minimum period of 3 years.
b) No refund shall be allowed for mid-term cancellation of such policies.
c) Mid-term inclusion of perils shall not be allowed.
d) Premium for entire policy period shall be collected in advance.
Method A:
Premium shall be charged in full without any discount. However sum insured under the
policy shall be deemed to have increased by 10% of the original sum insured at the end of
every 12 months period.
OR
Method B:
There shall not be any automatic increase in sum insured as in method A. However
appropriate discounts shall be allowable on applicable gross premium as per table below,
excluding discount on E.Q. & STFI add on cover
Duration of Policy Premium to be Charged
3 years policy 3 years premium in advance less 15% discount
Policy for 10 years and above Entire premium in advance less 50% discount.
N.B.: Mid-term increase in sum insured shall be allowed on pro rata basis for the balance
period.
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No refund of premium is allowed in case of mid-term reduction in S.I. considering the
concessions allowed on the premium for the same
Base Rate Schedule
1. (Erstwile Tariff)-Section III
Building Contents
Description rate Per per mile
Risk Rate
mille
code code
Erstwhile Tariff rate
1* 01 Dwellings, Places of worships, Libraries, 0.50
Museums, Schools, Colleges, Hospitals
including X-ray and other Diagnostic clinics,
Office premises, Meeting Rooms, Auditoriums,
Planetarium, Mess Houses, Clubs, Marriage
Halls, Showrooms and display centres where
goods are kept for display and no sales
are carried out, Educational and Research
Institutes imparting training in various crafts,
Lodging/Boarding Houses, Cycle Shed and
Dish Antenna, Indoor stadiums, Health Club,
Gymnasium and Swimming pool.
Note 1: Data Processing / Call Centers /
Business Process Outsourcing Centers may
be covered by loading the above rates by
50% subject to the warranty that no software
development activity is carried on within the
premises.
Note 2: In case the software development
activity is carried on within the premises, the
risks shall be rated under the entry “Electronic
Software Parks” (Risk Code 073 / Rate Code
04) of the Section IV of the Guide rates.
2 02 Cafes, Restaurants, Hotels, Confectioner, 1.80
Sweetmeat sellers & Health Resorts.
3* 021 Shops dealing in goods otherwise not provided 1.80
for including Laundries, Battery Charging
Service Stations, Dry Cleaning.
Amusement parks, Hoarding, Neon signs,
Sports Galleries & Outdoor stadiums,
4* 022 Shops dealing in hazardous goods as per the 1.80
list below and Arms & Ammunition dealers,
Motor Vehicle showroom including sales and
service, Petrol / Diesel Kiosks
Note : 10% loading is applicable on the rate
for presence of CNG installation(s) in Petrol /
Diesel Kiosks.
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1. List Of Some Hazardous Goods:
1. Celluloid Goods
2. Coir Loose
3. Crackers and Fire Works
4. Explosives of any kind
5. Hay / Straw
6. Hemp
7. Jute (Loose)
8. Matches
9. Methylated Spirit
10. Nitro-Cellulose Plastics
11. Oils / Ether / Industrial Solvents and other inflammable liquids flashing liquids
flashing at and below 320 C (Closed Cup test)
12. Paints with inflammable base having Flash point below 320 C (Closed Cup test)
Other than in sealed tins or drums
13. Varnishes having Flash point below 320 C (Closed Cup Test) other than in sealed
tins or drums
14. Disinfectant liquids and liquid insecticides–other than in sealed tins or drums
15. Vegetable fibres of any kind including Rayon Fibre
Industrial / Manufacturing Risks (Section IV)

Scope
Rates provided in this section are for the entire insured property in the same industrial
compound i.e. all process areas, storage areas, offices, utilities, miscellaneous blocks,
pipelines, roads, compound wall, cables, street light etc.
In cases where more than one product is manufactured in the same block, the highest rate
applicable shall be charged overall
If two or more factories are situated in the same compound or independent products are
manufactured in the same compound the manufacturing blocks shall be rateable `per se’
if located detached. Auxiliaries/miscellaneous blocks/utilities and godowns / tank farms,
pipelines, roads, compound wall etc. in such cases shall carry highest rate of all such
manufacturing blocks.
Rules :
1. Operations incidental to the main process shall be rated at par with the main process
block(s) if such operations are carried out inside the main process block(s).
2. Dwelling houses located inside the factory compound may be rated “per se”.
3. In case of any doubt, Underwriting offices may refer the matter to the Head office
through proper channel after charging a provisional rate as per General Rule 1 (f),
Section I.
4. Detached / Segregated block(s) within a risk which are protected by automatic
sprinkler installation with its own independent pumping arrangements, etc. as per the
specifications for sprinkler installation shall be allowed 5% reduction on the basic
rate(s).
5. The reduction in premium rates for deletion of STFI and /or RSMD perils at the inception
of the policy shall be as under :
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STFI Rs. 0.25%o
RSMD Rs. 0.10%o
Base Rate Schedule-Section IV
Erstwhile
Rate
Risk code Description of risk Tariff Rate
code
(%o)
1 7 Abrasive Manufacturing 2.00
2* 5 Aerated Water Factories 1.50
3 5 Aerial Ropeway including trolley stations 1.50
4* 7 Agarbatti manufacturing 2.00
5 11 Aircraft Hangers 3.00
Airport Terminal Buildings (including all facilities like
5 1.50
Cafes, Shops etc)
6
N.B: Airport Cargo complex shall be rated under
Section VI
7 18 Aluminium/ Magnesium Powder Plants 5.50
8* 5 Aluminium, Zinc, Copper Factories 1.50
9 7 Arecanut and/or Betelnut factories 2.00
10 5 Asbestos Steam Packing and lagging manufacturing 1.50
11* 7 Atta and Cereal Grinding (excluding Dal Mills) 2.00
12 12 Audio/Video Cassette Manufacturing 3.50
013A 9 Automobile Filter Manufacturing
13* 5 Automobile Manufacturing 1.50
14* 5 Bakeries 1.50
15 15 Basket Weavers and Cane Furniture Makers 4.50
16 8 Battery Manufacturing 2.25
17 11 Beedi Factories 3.00
18* 5 Biscuit Factories 1.50
Bitumenised Paper and / or Hessian Cloth
19 14 4.00
Manufacturing including Tar Felt Manufacturing.
20* 9 Book Binders, Envelope and Paper Bag Manufacturing. 2.50
21* 7 Breweries 2.00
22* 3 Brickworks (including refractories and fire bricks) 1.00
23 5 Bridges - Concrete/Steel 1.50
24 7 Bridges-Wooden 2.00
25 3 Building In course of construction 1.00
26* 9 Cable Manufacturing 2.50
27 11 Camphor Manufacturing 3.00
28 11 Candle Works 3.00
29* 5 Canning Factories 1.50
- 19 -
30 5 Capsule Manufacturing 1.50
31 10 Carbon paper / Typewriter Ribbon Manufacturing 2.75
32* 7 Cardamom Factories 2.00
33* 8 Cardboard Box Manufacturing 2.25
Carpenters, Wood wool Manufacturing, Furniture
34 15 Manufacturing and other wood worker shops 4.50
(excluding saw mill)
35 9 Carpet and Drugget Manufacturing (Cotton/jute/wool ) 2.50
36 12 Carpet and Drugget Manufacturing (Others) 3.50
37 11 Cashew nut Factories 3.00
38 7 Cattle feed Mill 2.00
39 24 Celluloid Goods Manufacturing 15.00
40* 5 Cement / asbestos/concrete products Manufacturing 1.50
41* 7 Cement Factories 2.00
Ceramic Factories and Crockery and Stoneware pipe
42* 5 1.50
Manufacturing/Clay Works.
Chemical Manufacturing(Using materials with Flash
43* 11 Point below 32OC), Bulk Drug Manufacturing,adhesive 3.00
film manufacturing
Chemical Manufacturing(others), Pharmaceuticals,
44* 8 2.25
Toiletry products, adhesive film manufacturing
45 10 Cigar and Cigarette Manufacturing 2.75
Cigarette Filter Manufacturing (Using Solvents with
46 12 3.50
Flash Point below 32oC )
47 10 Cigarette Filter Manufacturing (Others) 2.75
48 11 Cinema Film Production Studios 3.00
Cinematography Film Editing, Laboratory and Sound
49 7 2.00
recording rooms where Film processing is carried out
Cinematography Film Editing, Laboratory and Sound
50 5 1.50
recording rooms without Film processing.
51 9 Cinema Theatres 2.50
Circus, Touring Drama Troupes and Touring Cinema
52 22 10.50
Theatres
Cloth Processing units situated outside the compound
53* 5 1.75
of Textile mills
54 18 Coal/Coke/Charcoal ball & briquettes Manufacturing 5.50
55 9 Coal Processing Plants, Lignite handling system 2.50
56 7 Coffee Curing, Roasting / Grinding 2.00
57 12 Coir Factories 3.50
58 12 Collieries - underground Machinery and pit head gear 3.50
Condensed Milk Factories, Milk Pasteurizing Plants
59* 5 1.50
and Dairies
- 20 -
Confectionery Manufacturing Plants,
60* 5 Sugar Candy Manufacturing Plants and Sweet meat 1.50
Manufacturing Plants
Contractors Plant and Machinery
61 13 At one location only 3.75
15 Anywhere in India (at specified locations) 4.50
62 12 Cork Products Manufacturing 3.50
63 22 Cotton Gin and Press Houses 10.50
64 15 Cotton Seed cleaning / Delinting Factory 4.50
65* 5 Dehydration Factories 1.50
66* 9 Detergent Manufacturing with Sulphonation Plant 2.50
67 8 Detergent Manufacturing (Others) 2.25
68* 9 Distilleries 2.50
69 15 Duplicating/stencil paper Manufacturing 4.50
Electric Generation Stations
70* 4* Hydro Power stations 1.25
5* Others 1.50
71* 7 Electric Lamp /T.V. Picture Tube Manufacturing 2.00
72* 8 Electronic Goods Manufacturing /Assembly 2.25
73* 4 Electronic Software Parks 1.25
74 7 Enamel-ware factories 2.00
Engineering Workshop - - Structural Steel fabricators,
Sheet Metal fabricators, Hot/Cold Rolling, Pipe
Extruding, Stamping, Pressing, Forging Mills, Metal
75* 4 1.25
smelting, Foundries, Galvanising works, Metal
Extraction, Ore processing (other than Aluminium,
Copper, Zinc)
Engineering Workshop (Others), Clock/Watch
76* 6 1.75
Manufacturing , Motor Vehicle Garages
77 22 Exhibitions, Fetes, Mandaps. 10.50
78 18 Explosives / Blasting Factories 5.50
Fertiliser Manufacturing (other than those rateable
79* 8 2.25
under Petrochemical Tariff)
80 12 Filter and wax paper Manufacturing 3.50
81 18 Fireworks Manufacturing 5.50
82 8 Flax / Hemp Mills 2.00
83* 12 Flour Mills 3.50
Foamed Plastics Manufacturing and / or converting
84* 15 4.50
plants
85 15 Foam Rubber Manufacturing 4.50
86 15 French Polish Manufacturing 4.50
- 21 -
87* 5 Fruit and vegetable drying/dehydrating factories 1.50
Fruit products and Condiment Factories (including fruit
88* 5 1.50
pulp making)
89* 7 Garment Makers, Topee, Hats and the like makers 2.00
90* 7 Ghee Factories including vegetable Ghee mfg. 2.00
91 9 Glass Fibre Manufacturing 2.50
92 10 Glass wool Manufacturing 2.75
93* 7 Glass Manufacturing 2.00
94 7 Gold thread factories / Gilding factories 2.00
95 5 Granite Factories using inflammable solvents 1.50
96 3 Granite Factories (Others) 1.00
97 9 Graphite electrode Manufacturing 2.50
Grain/seeds disintegrating/crushing/ Decorticating
98* 9 2.50
factories/ Dal mills.
99 9 Grease / Wax Manufacturing 2.50
100 5 Green Houses/ Algae/ Spirulina and the like 1.50
101* 7 Gum/Glue/Gelatine Manufacturing 2.00
102 7 Gypsum board manufacturer 2.00
103* 8 Hoisery, Lace, Embroidery/Thread factories 2.25
104* 5 Ice candy and Ice cream Manufacturing 1.50
105 5 Ice factories 1.50
106 11 Incandescent Gas mantle Manufacturing 3.00
107 7 Industrial Diamonds Manufacturing 2.00
108* 11 Industrial Gas Manufacturing 3.00
109* 9 Ink (excluding printing ink) Manufacturing 2.50
110 5 Jaggery Manufacturing 1.50
111* 15 Jute Mills 4.50
112 12 Katha Manufacturing 3.50
113 7 Khandsari Sugar Manufacturing 2.00
114 9 Lac or Shellac Factories 2.50
115* 12 Leather Cloth Factories 3.50
116* 7 Leather Goods Manufacturing ( incl. boot/shoe) 2.00
117 5 Lime Kiln 1.50
118 9 Lithographic presses 2.50
119 15 Liquified Gas Bottling Plants 4.50
120* 7 Malt Extraction Plants 2.00
121* 4 Man-made Fibre Manufacturing (using Cellulose) 1.25
122* 5 Man-made Fibre Manufacturing Plant (Others) 1.50
123 7 Manure Blending works 2.00
- 22 -
124 18 Match Factories 5.50
125 15 Mattress and Pillow making 4.50
126 7 Metallizing works ( involving metals only) 2.00
127 11 Metallising Works (others) 3.00
128 9 Metal/Tin printers 2.50
129 7 Mica Products Manufacturing 2.00
130 7 Mineral Oil blending and processing 2.00
131 5 Mosaic Factories 1.50
132 5 Mushroom Growing Premises (Excluding Crops) 1.50
Nitro Cellulose Manufacturing
133 18 a) Industrial grade
24 b) Others 15.00
134* 11 Non-woven fabric Manufacturing 3.00
135* 13 Oil Extraction 3.75
136* 9 Oil Distillation Plants (essential) 2.50
137* 7 Oil Mills refining ( Veg/Animal) 2.00
138* 7 Oil Mills (Vegetable) 2.00
139 12 Oil and Leather Cloth Factories 3.50
140* 7 Paint factories (Water based) 2.00
141* 13 Paint (others) & Varnish Factories 3.75
142* 15 Paints - Nitrocellulose based 4.50
143* 9 Pan Masala making 2.50
144* 8 Paper and Cardboard Mills (including Lamination) 2.25
1458 8 Particle Board Manufacturing 2.25
146 14 Pencil Manufacturing 4.00
147* 8 Petroleum Coke Calcination 2.25
I. Using Plastic raw materials having calorific value up
to 15000 btu/lb
Polytetrafluoroethylene, Polychlorotrifluroehtylene,
148* 9 Polyvinyl chloride, polyvinylidene chlororide, 2.50
Polyvinylidene fluoride, Chlorinated polyether,
Polycarbonate, Polymethyl methacrylate, Phenol-
formaldehyde, Urea-formaldehyde, Melamine-
formaldehyde, Polyurethane, Polyester, Silicones.
- 23 -
II. Using Plastic raw materials having calorific value of
above 15000 btu/lb
Polyethylene, Polypropylene, Polystyrene, Poly-
alpha-methyl styrene, Acrylonitrile-butadiene-styrene,
Polybutylene
Note: Plastic Goods Manufacturing using plastic raw
148* 12 materials not listed above is rateable under rate code 3.50
09 or 12 as per the calorific value of the raw material
used. For other plastic raw materials for which calorific
values are not known reference is to be made to H.O.
Foamed Plastics manufacturing and/or converting
plants will continue to be rated as per Risk Code 084
and Rate Code 15.
Plywood / Wood veneering Factories/ Laminating
149* 18 5.50
Factories
Polyester Film Manufacturing / BOPP Film
150* 5 1.50
Manufacturing
Port Premises including jetties and equipment thereon
And other port facilities
Note 1:- Storage areas within the port premises shall
151 7 be charged open storage rates under section VI and/or 2.00
under section VII as applicable.
Note 2:- No reduction in rates shall be allowed for
opting out STFI perils.
152 5 Poultry Farms (Excluding birds therein)- Hatchery 1.50
153 22 Presses for coir fibres/waste/Grass/fodder/boosa/Jute 10.50
154 15 Presses for coir yarn / cotton/senna leaves 4.50
155 12 Presses for carpets, rugs and tobacco 3.50
156 10 Presses for hides and skins 2.75
Printing Ink Manufacturing / Roller composition
157* 12 3.50
factories
158* 9 Printing Press 2.50
159 5 Pulverising Plants(Metals and non-hazardous goods) 1.50
160 11 Pulverizing Plants (Others) 3.00
161* 11 Rice Mills 3.00
162* 6 Rice Polishing Units 1.75
Rope works (Plastic), Assembling of Plastic Goods
163* 9 2.50
such as Toys and the like
164 5 Rope Works (others) 1.50
165* 11 Rubber Factories 3.00
166* 12 Rubber Goods Mfg with Spreading 3.50
167* 9 Rubber Goods Manufacturing without spreading 2.50
168 3 Salt crushing Factories and Refineries 1.00
- 24 -
Saw Mills (including Timber Merchants premises
169* 18 5.50
where sawing is done).
170* 7 Sea Food / Meat Processing 2.00
171* 6 Silk Mills / Spun Silk Mills 1.75
172 12 Snuff Manufacturing 3.50
173* 8 Soap Manufacturing 2.25
Sponge Iron Plants
a) If the entire sponge iron
produced in the sponge iron plant is used for in-house
consumption for manufacturing steel billets, blooms,
bars, rods, wires, flats, etc., the risk as a whole may be
rated under Guide rate item “Engineering Workshops”
with Risk Code – 075 with 10% loading to take care of
the additional hazards associated with manufacturing /
174* 9 storage of sponge iron. 2.50
b) In case a part of sponge iron produced in the sponge
iron plant is sold directly as an independent product,
the sponge iron plant should be rated per se under
Guide rate item “Sponge Iron Plant” with Risk Code –
174 and Rate Code – 09. Auxiliaries / Miscellaneous
Blocks / Utilities and Godowns / Tank Farms, Pipelines,
Roads, Compound Wall etc. in such cases shall carry
highest rate of all such manufacturing blocks.
175 11 Spray Painting, Powder coating 3.00
176 5 Stables (excluding animals) 1.50
177 7 Starch Factories 2.00
178 3 Stone quarries 1.00
180* 5 Sugar factories 1.50
181 15 Surgical Cotton Manufacturing 4.50
182* 05 Sweet Manufacturing 1.50
183 5 Tanneries 1.50
184 7 Tapioca factories 2.00
185 14 Tarpaulin and canvas proofing factories 4.00
186 8 Tea blending/packing factories 2.25
187 9 Tea Factories 2.50
188 5 Telephone Exchanges 1.50
Textile Mills
8* Spinning mills 2.25
189* 7* Composite mills 2.00
(Composite Mills are those where activities from Blow
Room to Cloth processing are involved)
190* 5 Tile & Pottery works 1.50
- 25 -
Tiny sector Industries with values at risk not exceeding
191 3 1.00
Rs 10 lakhs
192 5 Tissue Culture Premises (Excluding Crops) 1.50
193 12 Tobacco Curing / Redrying Factories 3.50
194 12 Tobacco grinding/ crushing Manufacturing 3.50
195 20 Turpentine and rosin distilleries 6.50
196* 8 Tyres and Tubes Manufacturing 2.25
197 11 Tyre Retreading and Resoling factories 3.00
198 7 Umbrella Assembly factories 2.00
199* 9 Velvet Cloth Manufacturing 2.50
200* 5 Vermicelli factories 1.50
201 5 Weigh Bridges 1.50
202* 6 Weaving Mills 1.75
203 22 Wheat Threshers 10.50
204 7 Wood seasoning/treatment/ impregnation 2.00
205 9 Wool cleaning and pressing factories 2.50
206* 7 Woollen Mills 2.00
207* 5 Yarn Processing 1.75
208 7 Zip fasteners Manufacturing 2.00
Utilities Located Outside The Compounds Of Industrial / Manufacturing Risks (Section V)

Rules:
1) The reduction in premium rates for deletion of STFI and /or RSMD perils at the inception
STFI Rs. 0.25%o
RSMD Rs. 0.10%o
• Detached/Segregated block(s) within a risk which are protected by automatic sprinkler

installation with its own independent pumping arrangements etc. as per the specifications
for sprinkler installation shall be allowed 5% reduction on the basic rate(s).
1. Base Rate Schedule-Section V
Tariff
Rate
Risk code Description of Risk Rate
code
(%o)
5 08 Analytical / Quality Control Laboratories 2.25
6 05 Boiler House 1.50
Boundary Walls
09 a) Made up of Combustible Material 2.50
05 b) Others 1.50
Compressor Houses
05 Compressor handling air, Inert Gas and CO2 1.50
15 Compressor (Others) 4.50
- 26 -
7 03 Dam 1.00
04 Electric Crematoriums 1.25
8 05 Effluent /Sewage Treatment Plant 1.50
9 05 Electric Sub-Station, Loco Sheds 1.50
10 05 Electric Transmission / Distribution Lines/Cable TV 1.50
networks
11* 03 Pipe lines (carrying water only) 1.00
12* 04 Pipe lines (others) 1.25
13 05 Pump House (Water) 1.50
14 09 Pump House (Others) 2.50
15 11 Railway tracks 3.00
16* 07 Roads 1.00
17 03 Water Treatment Plant / Water Tanks 1.00
18 05 Wireless Transmitting Stations 1.50
Note: Transmission and Distribution lines which are normally excluded from Operational
risks can be covered only subject to reinsurance support. Hence all such references for
coverage irrespective of sum insured under Operational covers should be made to HO
along with details of length value, location of such T&D lines and other relevant project
details
Storage Risks Located Outside The Compounds Of Industrial / Manufacturing Risks

(Section VI)
RULES :
1) Rates shown in this section shall apply to Buildings/Areas used for storage of materials
2) Operations such as packing/selecting/assorting/mending/stitching/ battery charging
and like which do not materially alter the nature of risk are allowed to be carried out in
premises.
3) The presence of hazardous goods of higher category (as per Company’s list of
hazardous goods booklet) not exceeding 5% of the total value of the stocks may be
ignored.
4) Utilities and miscellaneous blocks shall be rated at Rs. 0.80%o.
Materials in Godown Materials in Open
STFI Rs. 0.25%o Rs. 1. 50%o
RSMD Rs. 0.10%o Rs. 0.10%o
6) Incidental open storages upto 2% of sum insured on stock can be allowed when the
risk is rated under materials stored in godowns.
7) Detached / Segregated block(s) within a risk which are protected by automatic
sprinkler installation with its own independent pumping arrangements, etc. as per the
specifications for sprinkler installation shall be allowed 5% reduction on the basic
rate(s).
- 27 -
2. BASE RATE SCHEDULE-SECTION VI
Risk code
Open
Description of Risk Rate Erstwhile Rate Erstwhile
Code Tariff rate Code Tariff rate
(%o) (%o)
19* Storage of Non-hazardous goods 03 1.00 09 2.50
subject to warranty that hazardous
goods of Category I, II, III, Coir waste,
Coir fibre and Caddies are not stored
therein.
20* Storage of Category I hazardous 09 2.50 19 6.00
Goods subject to warranty that goods 19 6.00
listed in Category II, III, Coir waste, 19 6.00
Coir fibre and Caddies are not stored
therein
Vehicles Stored in Open including
Tractors
Bus Terminus
21* Storage of hazardous Goods listed
in Category II subject to warranty 15 4.50 21 8.50
that goods listed in Category III, Coir
waste, Coir fibre and Caddies are not
stored therein.
22* Storage of hazardous Goods listed in
Category III subject to warranty that 18 5.50 22 10.50
Coir waste, Coir fibre and, Caddies
are not stored therein
23* Transporter’s godowns & Godowns of 18 5.50 22 10.50
clearing and forwarding agents.
24 Storage of Coir Waste, Coir Fibre, 23 12.00 25 17.00
Caddies
25* Cold Storage premises 09 2.50
- 28 -
List Of Hazardous Materials And Goods And Categorisation Thereof
(Please Refer Publication “List Of Hazardous Goods”)
MODE OF CLASSIFICATION
Hazardous Materials not included in the list may be classified depending on the properties
indicated below:
Category I 1. Solids which are moderately or slightly combustible
2. Flammable liquids having flash points above 650 C.
3. Inert and non-combustible gases.
4. Highly toxic materials.
5. Waste of non-hazardous materials.
Category II 1. Pyrotechnic materials.
2. Flammable liquids having flash point above 320 C upto 650 C.
3. Moderate Oxidising Agents and Oxygen.
4. Materials, which evolve combustible gases in contact with
water.
5. Waste of Category I materials.
Category III 1. Explosives.
2. Materials, which are self-ignitable.
3. Flammable liquids having flash point upto 320 C.
4. Strong Oxidising Agents.
5. Combustible gases.
6. Waste of Category II & III materials.
Tank Farms / Gas Holders Located Outside The Compound Of Industrial / Manufacturing
Risks (Section VII)
Rules:
of the policy shall be as under:
STFI Rs. 0.25%o
RSMD Rs. 0.10%o
2) All tanks located in the same dyke shall carry the highest rate applicable to any one
tank overall.
3) Utilities and Miscellaneous blocks shall be rated at Rs. 0.80%o (revised 0.75%o)
4) Associated properties such as Pumping Stations, Compressor Houses, Blower
Houses etc. shall be rated at par with the rate applicable to respective Gas Holders /
Bullets / Spheres / Vessels / Tanks.
- 29 -
BASE RATE SCHEDULE-SECTION VII
Erstwhile
Risk Rate
Description of Risk Tariff Rate
Code Code
%o
26* 17 Gas Holders/ Bullets/spheres and storages for liquefied 5.00
gases except for Nitrogen, Carbon dioxide and inert gases
27* 7 Gas Holders/ Vessels for Nitrogen, Carbon dioxide and inert 2.00
gases.
28* 12 Tanks containing liquids flashing at 32 0C and below 3.50
29* 7 Tanks (others) 2.00
“ADD ON” COVERS (SECTION VIII)
Standard Fire and Special Perils Policy can be extended to include the following “add-on
covers”:
Rate Add-On Cover Rates Value on which
Code applicable premium has to
be charged
1001 Architects, Surveyors and Consulting Policy Rate Specified sum
Engineers Fees (in excess of 3% claim insured
amount)
1002 Removal of Debris (in excess of 1% Policy Rate Specified sum
claim amount) insured upto
maximum 10%
of sum insured
1003 (A) Deterioration of Stocks in Cold 25% of Policy Sum insured of
Storage premises due to accidental Rate stocks
power failure consequent to damage at
the premises of Power Station due to
an insured peril
1004 (B) Deterioration of stocks in cold Policy Rate Sum insured of
storage premises due to change in stocks
temperature arising out of loss or
damage to the cold storage machinery
(ies) in the Insured’s premises due to
operation of insured peril.
1005 Forest Fire Rs. 3%o subject Specified sum
to applicable insured
claims exp.
discount /
loading as per
Rules 1& 2
- 30 -
1006 Impact Damage due to Insured’s own 5% of Policy Policy Sum
Rail / Road Vehicles, Fork lifts, Cranes, Rate insured
Stackers and the like and articles
dropped there from.
1007 Spontaneous Combustion Sum insured
1007 Category I goods Rs. 0.20%o of relative
1107 Category II goods Rs. 0.40%o commodity
1307 Category III goods Rs. 0.70%o
1407 Category IV goods Rs. 0.90%o
1008 Omission to Insure additions, alteration Policy Rate 5% of sum
or extensions insured of BMA
1009 Earthquake (Fire and Shock) Policy sum
1109 Zone I Rs. 0.50%o Insured
1209 Zone II Rs. 0.25%o
1309 Zone III Rs. 0.10%o
1409 Zone IV Rs. 0.05%o
Note-1 :- Non Industrial risks like Dwelling, offices, hotels, shops etc rateable
under Section III of these guidelines can be covered by charging a uniform rate of
Rs. 0.05%o regardless of the zones
Note-2 :- Above EQ rates are minimum to be charged and no discount is to be
given on the EQ rates: However, the above rates can be loaded depending on the
claim experience and risk perception.
1010 Spoilage Material Damage Cover
a) Stocks in specified blocks a) 5 times the a) Value of
Policy Rate stocks in
specified blocks
b) Machinery, Containers & b) 2.5 times the b) M/A value

Equipments in specified Policy Rate in specified
blocks blocks.
Cover for damage due to molten MD: 0.65%o Specified sum
material spillage LOP: 0.65%o insured
1012 Temporary Removal of Stocks Clause 10% of policy Policy sum
Rate insured
1013 Loss Of Rent clause Policy Rate Specified sum
insured
1014 Insurance Of Additional Expenses of Policy Rate Specified sum
Rent For An Alternative Accommodation insured
1015 Start up Expenses Only Policy Rate Specified sum
insured
- 31 -
(Ref:HO/Tech/F&E/Add On covers/2013-14 Dated 25.06.2013) Sl. No.
Name of the add on Rates Excess Remarks
cover/clause
1016 Insurance of Jetties, Policy rate. 5% of claim Sum Insured for
docks and other This will amount min. such properties
properties erected in be the final Rs. 10000/- only.
water and damage by net rate and Risk acceptance
water borne bodies no further by the Regional
clause: discount to in charge only.
The above add on is be given on
subject to exclusion of the same
wet risks as defined
in HO Circular no.
005/2013-14 dated
30.5.2013 on our RI
Treaty coverages.
1017 S t a r t u p / S h u t d o w n 0.25%o to 5% of claim Specified sum
expenses Rs. 2.00%o. amount min. insured.
This will Rs. 10,000/- Applicable for
be the final Fire policy only.
net rate &
no further
discount to
be given on
the same
1211 Leakage And Leakage Leakage & Specified sum
Contamination Cover Cover only Contamination insured
a) Where the tanks are a) Rs. Cover
within the Insured’s own 3.00%o a) Rs. 6.00%o
premises
b) Where the tanks are b) Rs. 3.6%o b) Rs.7.20%o
located elsewhere
Terrorism/ CAT Perils (STFI/ EQ) Additional Rates

Terrorism
Indian Market Terrorism Risk Insurance Pool (Ref: TPOOL/CIR/2/2016-17 dtd. 27.03.2017)
Cover for Terrorism Risk under Fire/Engineering:
1) Limit of Liability per location (MD+BI): Rs.2000 Crores
2) Limit of Liability for ALOP: Rs.750 Crores per location & combined limit of indemnity
for MD & ALOP under Project insurance policies not to exceed Rs.2000 Crores per
location.
- 32 -
Premium will be charged separately for covering Terrorism risk at the following rates :
RATE PER MILLE

TOTAL SI PER LOCATION- MD+BI
RESIDENTIAL NON INDUSTRIAL INDUSTRIAL
UPTO 500 CR 0.08 0.15 0.23
>500-1000 CR 0.08 0.15 0.20
>1000-1500 CR 0.08 0.12 0.20
>1500-2500 CR 0.05 0.12 0.15
>2500-5000 CR 0.05 0.10 0.10
>5000-10000 CR 0.05 0.08 0.08
>10000 CR 0.05 0.06 0.06
No discounts for favourable claims experience, fire fighting systems etc
Ref: TPOOL/CIR/1/2017-18 dtd. 25.07.2017
Terrorism cover for fixed assets at multiple locations on floater basis:
1) Cover will be available for fire operational policies only.

2) List of locations with details & Sum Insured to be listed in the Policy schedule.
3) Aggregate sum insured of all the locations shall be taken as the sum insured for
premium calculation
4) Discounting pattern to be followed as follows:
Number of Locations Percentage Discount
2 to 10 5.00%
11 to 25 10.00%
More than 25 15.00%
Add On Covers Included Under Terrorism Pool Coverage:

1) Start up Expenses
2) Alternate Accommodation
Deductibles For Terrorism Risk Under Pool Arrangement Are As Under:

Deductibles % of claim minimum maximum
Industrial Risks 5% 1,00,000 25,00,000
Non-Industrial Risks 1% 25,000 10,00,000
HHI and SKI 1% 10,000 5,00,000
BI-FLOP 7 days of standard gross profit
ALOP As per original policy
CAT PERILS rate effective from 01/03/2016: Separate rates shall be charged for STFI (Storm,
Tempest, Flood and inundation) group of perils and for Earthquake fire and shock perils in
respect of all Fire policies.
- 33 -
STFI RATES
Revised rates
Sr. No. Occupancy
per mille
1 Dwellings 0.075
Non Industrial - Hotels, Shops as per section III of erstwhile
2 tariff 0.1125
Industrial Incl. Utilities located outside the mfg. risk &

3 tankfarms/gas holders 9Section IV, V & VII of erstwhile tariff) 0.1875
Stand alone storage (outside the mfg. premises) Section VI
4 of the erstwhile tariff
1) In Godown/Silos 0.1875
2) In open 1.125
EQ RATES
Revised rates
Sr. No. Zones per mille
1 Zone I 0.5
2 Zone II 0.25
3 Zone III 0.10
4 Zone IV 0.05
Note: No discounts of any kind including higher excess discounts shall be allowed as these
are minimum rates.
CLASSIFICATION OF EARTHQUAKE ZONES - DISTRICT WISE

STATE/UNION
ZONE DISTRICTS
TERRITORY
ANDAMAN & NICOBAR I Entire Union Territory
ISLANDS
ANDHRA PRADESH III West Godavari, Krishna, Khammam, Warangal,
Karimnagar, Anantapur.
IV Chitoor, Nellore, Cuddapah, Kurnool Mahboobnagar,
Ranga Reddy, Medak, Nizamabad, Adilabad,
Nalgonda, Prakasam, East Godavari, Visakhapatnam,
Guntur, Vizianagarm, Srikakulam, Hyderabad and
Yanam (Pondicherry)
ARUNCHAL PRADESH I Entire State
ASSAM I Entire State
BIHAR I Sitamarhi, Madhubani, Darbhanga, Saharsa.
II Purnia, Champaran (East), Champaran (West),
Katihar, Bighusarai, Samastipur, Muzaffarpur,
Gopalganj, Siwan, Saran, Vaishali, Nalanda, Patna,
Monghyr, Bhagalpur.
- 34 -
III Santhal pragana, Bhojpur, Rohtas, Gaya,
Aurangabad, Nawda, Hazaribagh, Palamau, Giridih,
Dhanbad.
IV Ranchi, Singhbhum.
CHANDIGARH II Entire Union Territory.
DELHI II Entire State
GOA III Entire State
GUJARAT I Katch
II Jamnagar.
III Rajkot, Surendernagar, Mehsana, Banaskantha,
Sabarkantha, Panchmahal, Baroda, Kheda,
Ahmedabad, Bhavnagar, Amreli, Junagadh,
Bharuch, Surat, Valsad, Dang (Ahwa), Gandhinagar,
Union Territories-of Diu, Daman, Dadra and Nagar
Haveli.
HARYANA II Ambala, Sonepat, Rohtak, Karnal, Gurgaon,
Faridabad, Panipat, Rewari, Yamunanagar.
III Kurukshetra, Jind, Hissar, Bhiwani, Mahendragarh,
Kaithal
IV Sirsa.
HIMACHAL PRADESH I Chamba, Kullu, Kangra, Una, Hamirpur, Mandi,
Bilaspur
II Lahul and Spiti, Kinnaur, Shimla, Solan, Sirmaur.
JAMMU & KASHMIR I Baramula, Srinagar,
II Gilgit, Chilas, Gilgit Wazarat, Muzaffarabad, Punch,

Anantnag, Mirapur, Riasi, Udhampur, Jammu,
Kathua, Leh, Tribal Territory.
KARNATAKA III Dakshin Kannad.
IV Belgaum, Bijapur, Bidar, Gulbarga, Raichur, Bellary,
Dharwad, Shimoga, Chitradurga, Chikmagalur,
Tumkur, Hassan, Bangalore, Kolar, Kodagu, Mandya,
Mysore, Uttar Kannnad.
KERALA III Entire State and Mahe (Pondichery)
LAKSHADWEEP IV Entire Union Territory.
MADHYA PRADESH III West Nimar, East Nimar, Betul, Chhindwara,
Hoshangabad, Raisen, Narsimhapur, Jabalpur,
Shahdul, Sidhi, Surguja, Raigarh.
IV Balaghat, Bastar (Jagdalpur), Bhind, Bhopal,
Bilaspur, Chhatarpur, Damoh, Datia, Dewas, Dhar,
Durg, Guna, Gwalior, Indore, Jhabua, Mandsaur,
Mandla, Morena, Panna, Raipur, Rajgarh, Sagar,
Satna, Sehore, Shajapur, Shivpuri, Tikamgarh,
Ujjain, Vidisha, Rajnandgaon, Ratlam, Rewa, Seoni.
MAHARASHTRA I Ratnagiri, Satara.
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III Sindhudurg, Kolhapur, Pune, Nasik, Chandrapur,
Thane, Raigad, Dhule, Greater Bombay.
IV Sangli, Solapur, Osmanabad, Latur, Bid,
Ahmadnagar, Nanded, Parbani, Jalna, Aurangabad,
Akola, Yavatmal,
Amravati, Wardha, Nagpur, Bhandara, Gadchiroli,
Buldana, Jalgaon.
MANIPUR I Entire State.
MEGHALAYA I Entire State.
MIZORAM I Entire State.
NAGALAND I Entire State.
ORISSA III Cuttack, Dhenkanal, Sambalpur.
IV Puri, Koraput, Kalahandi, Bolangir, Balasore,
Keonjhar, Mayjurbhganj, Baudhkhondmals, Ganjam,
Sundargarh.
PONDICHERRY IV Entire Union Territory.
PUNJAB II Gurdaspur, Hoshiarpur, Amritsar, Fatehgarh Sahib,
Kapurthala, Jalandhar, Ludhiana, Rupnagar.
III Ferozepur, Faridkot, Patiala, Mansa, Sangrur,
Bhatinda.
RAJASTHAN III Jaisalmer, Alwar, Bharatpur, Barmer, Jalor, Sirohi.
IV Ganganagar, Churu, Jhunjhunu, Jodhpur, Nagaur,
Sikar, Jaipur, Daulpur, Sawai Madhopur, Tonk, Ajmer,
Pali, Bhilwara, Bundi, Kota, Udaipur, Chittaurgarh,
Jahlawar, Banswara, Dungarpur, Bikaner.
SIKKIM II Entire State.
TAMILNADU III Nilgiri, Coimbatore, Kannyakumari, Tirunelveli.
IV Chengalpattu,Nor th-Arcot,Tir uvannamalai,
South Arcot, Dharampuri, Salem, Periyar,
Trichirapalli,Thanjavur, Nagapattinam, Pudukottai,
Dindigul, Madurai, Kamarajar, Pasumpon,
Muthuramalinga Thevar, Ramanathapuram,
Chidambaranar, Madras.
TRIPURA I Entire State.
UTTAR PRADESH I Chamoli, Almora, Pithoragarh.
II Uttarkashi, Tehri Garhwal, Dehradun, Garhwal,
Saharanpur, Muzaffarnagar, Bijnor, Nainital,
Moradabad, Meerut, Ghaziabad, Rampur, Pilibhit,
Bulandshahr, Kheri, Bahraich, Gonda, Basti,
Gorakhpur, Deoria.
III Bareilly, Badaun, Shahjehanpur, Aligarh, Mathura,,
Ethah, Hardoi, Sitapur, Agra, Mainpuri, Farukkabad,
Unnao, Lucknow, Barabanki, Rae Bareli, Sultanpur,
Faizabad, Azamgarh, Ballia, Pratapgarh, Jaunpur,
Ghazipur, Varanasi, Mirzapur.
IV Etawah, Kanpur, Jalaun, Jhansi, Hamirpur, Banda,
Fatehpur, Allahabad, Lalitpur.
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WEST BENGAL I Cooch Bihar.
II Darjeeling, West Dinajpur, Jalpaiguri, Calcutta, 24
Parganas, Maldah.
III Murshidabad, Birbhum, Bardhaman, Hoogli,
IV Howrah, Nadia, Bankura, Midnapore.
Purulia
Undesired Risks
These risks are to be underwritten as per guidelines issued separately after careful evaluation
of the risk by the risk accepting authority
• Wind Mills.
• Coal in open/port premises/Railway sidings:
• Cotton ginning & Pressing factories, cotton in godowns.
• Commodities in open/port premises/railway sidings/transports godowns:
• Jute Mills & Factories
• Agri stocks in open with poor salvage value:
• Rubber & Plastic Industries:
• Plastic Goods/chemical/paper manufacturing risks
• Hydro-power plants located in hilly areas.
All warranties & policy wordings should be attached with the policy wherever applicable.
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FIRE LOSS OF PROFIT (BUSINESS INTERRUPTION) INSURANCE
Introduction
An important exclusion of standard Fire and Special Perils policy (Material Damage Policy) is
‘Consequential Loss or Damage of any kind or description’. Loss of profits of a commercial
establishment following loss caused by any peril, covered under the material damage policy
fall under this exclusion. The primary objective of a commercial establishment is to earn
profit out of its business. If the business is interrupted because of fire or any allied peril,
the direct consequence is an adverse impact on its profits. Material damage policy provides
indemnity against loss of the insured property, but it does not afford complete protection
to the business establishment as it does not make good loss of profits. Consequential
Loss (Fire) Policy popularly known as Fire Loss of Profits policy provides this additional
protection and makes good loss of profits caused as such.
Losses resulting from cessation of business may be:
1. Net profit:
The margin of income over all expenses
2. Standing Charges:
The expenses which will still be incurred even if the business is temporarily stopped,
e.g. salaries of permanent employees, rents, interest, depreciation, PF, pension,
advertisement, publicity, Insurance premium etc. (FLOP policies covering Standalone
Standing charges cannot be granted)
3. Increased Cost of Working:

Additional expenses incurred to maintain the business as far as possible, for example,
rent of temporary premises to carry on the business to the extent possible and thereby
minimizing loss of profits.
Main Features Of LOP Policies
1. Material Damage Proviso:

It is a precondition that loss of profits cover can be granted only if a material damage
policy is in force throughout the currency of the policy. All the perils including add
on covers covered under the material damage policy must be covered under the
Consequential Loss policy.
A claim under Consequential Loss policy is admissible only when liability under the
material damage policy is admitted. The proviso shall not apply to property on which
the Insured have no direct insurable interest and which they cannot be reasonably
expected to insure.
2. Indemnity Period:
Loss of profits policy is also an annual policy. However, it is not necessary that the
loss under the material damage policy will affect the business during the entire period
of the policy. Such loss may have effect on business for a shorter or longer duration
than the policy period.
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Indemnity Period is the maximum probable duration during which the business is likely
to be affected. It has to be decided by the insured at the time of taking the policy and cannot
be altered during the currency of the policy.
In case of a claim, indemnity period starts from the day material damage takes place and
continues till the effect on business is over but not exceeding the overall period selected by
the insured.
It is not permissible to issue a policy with an Indemnity Period commencing at a date later than
the date of the damage except for a business which is silent, in which case the commencing
date of Indemnity may be made to coincide with the date on which the business would have
started.
NOTE: Different locations under a single policy cannot have different indemnity periods.
It is also not permissible to alter the indemnity period during the currency of the Policy.
BI/LOP cover with Indemnity period of more than 24 months shall not be underwritten: (Ref:
CMD Sectt’s Master Circular No: 005/2013-14 dt. 30.5.2013)
3. Sum Insured: Annual Gross Profit*Indemnity Period (Min 12 Months)

Since business interruption results into loss of gross profit, it is the sum insured for the
purpose of loss of profits policy. SI is based on the estimated Gross Profit for the year;
as such pro rata return of premium may be given on actual earned GP basis at the
end of the policy period subject to a maximum of 50%, provided auditor’s certificate
for the same is provided latest within 12 months of policy expiry. No refund shall be
admissible thereafter.
The quantum of gross profit to be selected as the sum insured depends on the
indemnity period.
1. If the indemnity period is for any duration up to 12 months, annual gross profit
shall be the sum insured.
2. In case the indemnity period is in excess of 12 months, the annual gross profit
shall be proportionately increased. For example, for a 24 months indemnity
period, the sum insured shall be twice the annual gross profit.
4. Turnover:
The money paid or payable to the Insured for goods sold and delivered and for services
rendered in course of the business at the premises.
5. Basis Of Loss Of Profits Insurance

Most popular is turnover or output basis on which loss of profits policy is issued. The
indemnity is measured in relation to reduction in turnover or output following a loss
under material damage policy during the indemnity period. Revenue basis is applicable
for Service industries like hotels, hospitals, road, airport etc.
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Basis of
Basis of Indemnity Loss of Gross Profit
Insurance
Turnover (a) Reduction in Turnover Net profit plus Insured standing
(b) Increase in Cost of Working. charges.
Output (a) Reduction in Output Shortfall in Standard output due to
(b) Increase in Cost of Working. interruption
Difference Reduction in Turnover (Turnover + Closing stock) –
(Opening stock + Specified working
expenses);
due provisions being made for
depreciation
Revenue (a) loss of Gross Revenue
(b) Increase in Cost of Working
I) When Consequential loss insurance is taken to cover wages, the wage component of
reduced Turnover is payable to the Insured. The Insured has the option to take cover
for 100% of wages for initial period and a lesser percentage for the subsequent portion
of Indemnity period. This is termed as cover on Dual Basis for wages.
II) When Consequential loss insurance is taken to cover wages on Pro Rata Basis, the
wage component of reduced Turnover is payable to the Insured depending upon the
percentage of utilisation of employees.
III) FLOP insurance on Lay-off and /or retrenchment basis covers Insured’s liability under
Industrial Disputes Act, 1947.
Considerations /Details Required For FLOP Underwriting

Material damage (Fire) policy and business interruption policy should be with same
Insurer.
In addition to compliance with details required for SFSP cover, completed proposal form/
RFQ containing the following information should be sought for:
1. Sum insured: Annual gross profit details
2. Basis of Sum insured/coverage: Turnover/output/revenue etc
3. Indemnity period
4. Extensions and clauses desired
5. Name and location of Suppliers/Customers (only direct) if such extensions are sought.
6. If more than one Supplier/Customer, then dependency on each entity is to be provided
7. If public utilities extension is sought, details there of
8. In case of risk in hilly areas, accessibility details to the risk site(often it is seen that
there are no or poor accessibility to risk sites in ghats/hilly areas after a loss which may
hinder repair/replacement of damaged items thereby resulting in increased interruption
period)
9. Presence of factors which could aggravate delay in supply/repair (non availability of
spares, local expertise or repair facilities)
10. ICR for past 3 years including nature of loss/risk improvement done by client.
11. Any other information which may be material
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Rating Of FLOP Policy:
The rate of premium for FLOP policy consists of two components,
a) Basis rate
b) Percentage for indemnity period (profit rate).
Basis Rate:
The net final rate for fire perils including earthquake, STFI and other Add on perils as
applicable is loaded by not less than 25%.
Profit rate (Percentage for Indemnity period):

The basis rate as arrived above is loaded by factor for indemnity indicated in the table for the
type of plant (continuous/non continuous).
For Risks other than those Percentages of the Basis

rateable under the Petrochemical Rates
erstwhile tariff:
Period of Indemnity Sum to be Insured Continuous Other than
Process Plant Continuous
Process
Plant
3 Months Annual Gross Profit 89.06 72.5
6 months or less Annual Gross Profit 93.75 75
9months Annual Gross Profit 112.5 90
12 months Annual Gross Profit 125 100
15 months Annual Gross Profit * 1.25 121.875 97.5
18 months Annual Gross Profit * 1.5 118.75 95
24 months Annual Gross Profit * 2 112.5 90
For Risks Rateable under Petrochemical EsrtwhileTariff:

Period of Indemnity 6 or less 9 12 15 18 24
In months
LOP Standard Profit Rates 225 270 300 290 285 270
as % of basis rate
List Of Some Continuous Process Plants:

Following plants carry out continuous, automatic or semi-automatic process:
Bakeries and Biscuits Factory
Battery Service Stations
Breweries
Cement Factories
Chemical Manufacturers - All factories are not automatic or semi-automatic and continuous
Detergent Factories
Distilleries
Electric Power Works
Electric Sub-stations
Electroplating Works
Engine, Boiler and Pump Houses
Glass Factories
- 41 -
Ice candy and Ice Cream Manufacturing Premises
Ice Factories
Ink Factories (excluding printing ink manufacture)
Man-Made Fibre Manufacturing Factories
Paper and Cardboard Mills
Plastic Raw Materials Manufacturers
Sugar Factories
Tile, Pottery and Brick Works
Vegetable Oil Solvent Extraction Plants
Vegetable Ghee Factories
Wireless Transmitting Stations
Note: “The above list should not be considered as exhaustive
Deductible :
1) Minimum Deductibles :
Other than Petro Chemical Risks - 07 days of Standard Gross Profit.
Petro chemical risks – 14 days of Standard Gross Profit.
2) Voluntary Deductible:
Insured has the option to select higher deductible.
Restrictions On Cover (FLOP)

It is not permissible to issue a Fire Consequential Loss policy for :
a) Undertaking to pay a percentage of the fire loss or a fixed sum or percentage regardless
of actual loss.
b) Covering depreciation of Stock
c) Covering bad debts.
d) Explosion and collapse of steam boilers.
e) Covering Standalone Standing charges
Note: Payment of premiums by installments is not permissible.
Clauses/Endorsements/”Add On” Covers Under FLOP Policy:

1. Departmental Clause- assessment of rate of GP department wise wherever separate
trading results are available
2. Auditors’ clause- payment of reasonable charges for certifying claim figures. Other
claim preparation costs are not payable.
3. New Business Clause- claim during first year of operations
4. Alternative Basis Clause
5. Accumulated Stock Clause- only for indemnity period of 12 months or more)-
allowance for buffer stock shall be given while assessing the claim
6. Contingent LOP covers for customers, suppliers and public utilities- Named, First tier
only. Covering FLEXA and AOG in India, ONLY FLEXA abroad.
To be covered with HO approval only.
a. Suppliers’ premises (15% of BI Limit)
b. Customers’ premises (15% of BI Limit)
c. Extension to cover loss due to Accidental failure of public utilities- Electricity/
Gas/Water Supply (17% of BI)
d. Prevention of access cover with max limit of 4 weeks upto 5 km radius of insured
premises, inland.
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INDUSTRIAL ALL RISK INSURANCE
Introduction
Eligibility:
All Industrial risks other than petrochemicals risks over Sum Insured of Rs.50 crs may be
covered under this policy. IAR policy cannot be given for standalone storage/utilities/Non
industrial commercial risks, fertiliser plant etc.
Sections:
1 Section I – Material damage and
2 Section II Business Interruption following Fire and allied perils (FLOP).
MLOP cover is also available at option of the Insured under Sec II.
Section-I (Material Damage)

Scope of Cover
1. All types of Accidental Losses other than named exclusions.
2. All perils included in the SFSP (Standard Fire and Special Peril) policy including Act
of God perils namely STFI, and EQ (Fire & Shock)
3. Other Special perils viz. (offered free of cost)
a. Spontaneous combustion.
b. Sprinkler leakage.
c. Spoilage material damage.
d. Leakage and contamination.
e. Missile testing operations.
f. Forest fire, subterranean fire.
4. Machinery Breakdown
5. Theft/Burglary
Note: Debris Removal

• This policy covers the necessary expense for removal of debris of insured property
from the described premises as a result of physical loss destruction or damage insured
against under this policy. The Company’s total liability for debris removal is limited to
the amount entered in the Schedule. Foreign Debris is not covered.
Sum Insured
• For building, plant and machinery, furniture, fixtures and fittings on reinstatement value
basis.
• For stocks on market value basis. Floater/Declaration Facility not available.
Rating
As per procedure adopted in Fire/ Engg. Portfolio of the policy respectively.
Exclusions
Excluded causes:
• Interruption of the water supply gas electricity or fuel systems or failure of the
effluent disposal systems
• Collapse or cracking of buildings.
• Faulty or defective design of materials, inherent vice, wear and tear. Corrosion, rust,
shrinkage loss of weight, contamination etc. Larceny.
• Dishonesty, inventory shortage.
• Coastal or river erosion, normal settlement or bedding down of new structures
- 43 -
• Willful negligence, cessation of work, loss of market. War and war group of perils.
• Nuclear group of perils.
• Destruction of the property by order of public authority.
Excluded Property:
• Money, cheques, securities of any description, jewellery, works of art, goods held
in trust or on commission, computer system records unless specifically covered.
• Vehicles licensed for road use.
• Property in transit outside the premises.
• Property or structures in the course of construction, demolition or erection.
• Land, Pavements, roads, runways etc. unless specifically covered.
• Livestock, growing crops or trees.
• Property damaged as a result of its undergoing any process Property removed to other
location or a period exceeding 60 days. Loss payable to the property covered under
marine policies. Property more specifically insured under any other policies.
Section-II (Business Interruption)

This section covers Loss of Gross Profit arising out of interruption of insured’s operation.
Such an interruption should arise out of a loss payable under Material damage section. For
payment of claims under FLOP/ MLOP, liability under Fire/machinery breakdown must be
admitted.
MLOP covers consequential losses because of breakdown of machinery i.e. Standing

charges + net profit for the reasonable period taken to repair or replace the machines.
Standing charges include those expenses which the insured is going to incur whether the
plant/machinery is working or not e.g. Rent, Wages, Insurance expenses etc.
Scope of Cover
Loss of Gross profits & Increase in cost of working.
Sum Insured
Estimated gross profit. Extracted from the previous years profit and loss account. Facility of
return of premium based on actual GP earned.
Rating
As per procedure adopted in FLOP/ MLOP policies respectively.
Subject to compliance with HO underwriting guidelines
Exclusions
1. Insured’s lack of sufficient capital.
2. Any restrictions imposed by any public authority.
3. Loss for causes like cancellation of a lease license or order etc.
4. Damage to boilers, economizers, machinery, electronic installations and data
processing equipment.
Note : Exclusion for machinery above may be deleted on inclusion of MLOP under the policy.
Advantage of IAR
1. It is an all-risk policy with few exclusions.
- 44 -
2. Umbrella cover with economic rate of premium.
3. Grey area claims elimated and covers eventualities not covered in separate operational
policies.
4. Under insurance upto 15% is waived.
Compulsory Or Minimum Deductibles Applicable

PD+BI Sum Insured Upto 100 Cr >100-1500 cr >1500-2500 cr >2500cr/
Mega Risks
PD Deductible- 5% of 5 lakhs 10 lakhs 25 lacs 50 lakhs
claim amount subject to a
minimum of
BI Deductible
FLOP- Other than Petro 7 days 7 days 7 days 14 days
Chemical Risks : standard
Gross Profit
FLOP- Petro Chemical 14 days 14 days 14 days 21 days
Risks: standard Gross
Profit
MLOP- ALL 14 days 14 days 14 days 21 days
Note: The limit for Sum Insured is combined limit for MD + BI per location.
Clauses
• Agreed Bank clause.
• Architects, surveyors fees clause
• Designation of property clause.
• Escalation clause.
• Omission to insure additions, alterations or extensions clause.
• Temporary removal of stock clause.
Add On Covers
The add on covers under Section I and II can be given on the same lines as per SFSP & FLOP
policies stated above, subject to approval from the competent authority.
List Of Add On Covers Which Can Be Given Based On Merit And Special Approval From
Head Office For SFSP/IAR Policy
1. Denial of Access
2. Cessation of work
3. Cover of Cost for Decontamination
4. Acquired Companies
5. Additional Insureds (to be named in the Schedule)
6. Contamination and/or Co-mingling of Stocks
7. Deliberate Damage
8. Demolition and increased cost of construction
9. Immediate repairs: (Floater basis)
10. Property not on insured Premises
11. Restoration of record, plans, documents
12. Technological Advancement
13. Loss of Rent
14. Fire fighting/Extinguishing Expenses: (Floater basis)
- 45 -
15. Minor works extension clause for routine maintenance works and projects
16. Involuntary betterment clause
17. Functional Replacement Cost
18. Capital additions clause
19. Expediting costs Air freight and extra expense combined
20. Brands and Labels Trademark
21. Claims Preparation costs
22. Removal of debris including foreign debris
23. Errors and Omissions
24. Fine arts and valuable papers including media and records including transit
25. Nominated adjustor clause
26. Waiver of Recourse and Subrogation
27. Temporary removal of property
28. Protection and preservation of Property
29. Land and water contaminant cleanup, removal and disposal
30. Decontamination costs
31. Consequential Reduction in Value
32. Control of Damaged Goods
33. Tenants and Neighbours Liability
34. Salvage and Recoveries
35. Partial Payment of Loss/on account payment clause
36. Pair or Set
37. Automatic Reinstatement of Sum Insured
For FLOP/BI Policy

1. Rental Value
2. Royalties
Pre-Insurance Risk Inspection Report Format
• Name of the Insured:

• Location of Risk:
• Date & Time of Inspection:
• Person/s Contacted:
• Underwriting Office:
• Occupancy of Risk:
• Type of Policy:
• Insured’s Profile:
• Plant/risk layout:
• Type of construction:
• Risk rented/owned:
• Neighbourhood/outside exposure:
• Accessibility:
• Security Arrangements:
• Brief Description of the manufacturing process:
• Plant & Machinery:
• Type of Stocks & Storage (Raw materials, semi finished goods & finished goods):
1) Storage
2) Tank Storage
• Multiple Occupancy/Occupant:
• Housekeeping:
• Electrical Installation:
- 46 -
• Fire Protection System:
1) Hand appliances like Fire Extinguishers:
2) Fire Hydrant System
3) Sprinkles system
• Loss Prevention & Management practices:

1) Fire Brigade (In-house)
2) Fire Brigade (nearest)
3) Safety Procedures
4) Emergency Planning
5) Fire protection system inspection & maintenance
• Details of approval/NOC/Licences:
• Records/Accounts:
• Last 5 years claim history:
Year Insurer’s Name Premium Paid Claims Outstanding
• Comments on Probable causes of loss occurring with Exposure, Possibility & Severity:
1) FIRE:
2) EXPLOSION/IMPLOSION:
3) EARTHQUAKE:
4) FLOOD/INUNDATION:
5) WIND/CYCLONE:
6) LIGHTNING:
7) SOCIAL PERILS:
• Estimation of PML in terms of Material Damage & Business Interruption Loss :
• General Observations:
• Recommendation for Loss Improvement Measures:
• Conclusion & Comments on risk acceptance:
• Enclosures:
1) Set of clear photographs
- 47 -
ENGINEERING INSURANCE
General Introduction
Broadly, various engineering policies can be classified as follows:
1. Construction Phase Insurance (Project Policies).
These are one time policies issued for entire project period irrespective of whether the
project period is a few days or a few years:
• Contractor’s All Risk Insurance (CAR)
• Erection All Risk Insurance (EAR) [also known as Storage-cum- Erection or SCE
Insurance]
• Marine – cum – Erection Insurance (MCE- EAR with marine cover)
• Advance Loss of Profit (ALOP)
2. Operational Phase Insurance (Annual Policies)

• Machinery Insurance
• Electronic Equipment Insurance
• Boiler and Pressure Plant Insurance
• Deterioration of Stock Insurance (DOS)
• Civil Engineering Completed Risk Insurance (CECR)
• Contract Works Insurance (CW)
• Machinery Loss of Profit Insurance (MLOP)
• Boiler Loss of Profit Insurance (BLOP)
• Contractor’s Plant and Machinery Insurance
Important Note On Rating:

STFI rates to be charged for engineering policies
STFI rate for EAR/CAR/CPM/ EEI: 0.225 per mille per annum
Earthquake rates to be charged for Engineering Policies

Additional rates to be charged for all zones as per the table given below
Earthquake All rates are in per mille per annum.
Zone IV III II I
EAR/CAR/CPM/ EEI
(Annual rates) 0.05 0.1 0.25 0.5
Note:
1. The premium on engineering policies in respect of STFI and EQ is to be charged on
pro rata basis based on duration of the policy.
2. No discounts of any kind including higher excess discounts is to be allowed as
these are minimum rates.
The above rates are the minimum rates to be charged and all insurers are free to
load the rate based on the individual risk features and claims experience. The risk
acceptance authority shall ensure that appropriate loading is charged on the minimum
rates given above based on the claim experience, risk profile and other underwriting
parameters. The above guidelines are effective from 01/03/2012 in respect of all Fire
and Engineering policies.
Terrorism cover could be granted under EEI policy at prevailing Terrorism pool
rates and terms w.e.f 01.04.2017.
- 48 -
CONTRACTOR’S PLANT & MACHINERY (CPM)
Items Covered: Cranes, Bumpers, Excavators, Tunnel Boring Machines etc. which are used
for the erection/construction of projects.
The CPM cover is usually provided as an extension to the mother project policy (i.e. MCE/
EAR SCE/CAR Policy) if the total S.I. of CPM equipments is less than 5% of the Project S.I.
subject to a maximum of 25 lacs, If the CPM value exceeds the above limits in a particular
project site, then a separate CPM Policy has to be issued.
This Policy is given to contractors who may be using plant and machinery at different
projects during the policy period on a separate annual policy with appropriate earthquake
loading considering the sites falling in the earthquakes zones.
This is an “all risks” Policy with specified exclusions printed on the policy.
Sum Insured:
On New (Current) Replacement Value Basis
(Replacement Cost includes freight, dues and customs duties if any and erection cost).
Cover
1. Machines while at work or being dismantled/ cleaned/ overhauled or reassembled
2. Equipments lying at contractors own premises
3. Shifting from one point to another point at the same project. However transit risk
from one project to another project is not covered. This may be covered separately
under a Marine policy.
Additional Covers:
Express Freight (repairs)
Air Freight
Clearance & Removal of Debris
Owners’s Surrounding Property
Third Party Liability
Additional Custom Duty
Escalation upto maximum 25%
Exclusions:
• Compulsory Excess
• Loss of or damage to plant and/or machinery working underground popularly
known as exclusion ‘K’. Not applicable to machineries used in tunneling work.
• Loss or damage whilst in transit
• Electrical or Mechanical breakdown, internal explosion
• Consumables/exchangeable parts like knives, ropes, belts, chains, batteries, tiers,
connecting wires and cables, flexible pipes, joining and packing material regularly
replaced.
• Wear and tear
• Inventory Losses
• Total or partial immersion in tidal water
• Wilful Act and Wilful Negligence
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• Consequential Loss
• War and war like operations and Nuclear perils
Premium
• Minimum Premium: Rs. 100/-
• Short period rates: As per Short Period rates for motor insurance
Rating
Group of Machinery Tariff Rates
Group I 0.60%
Group II 0.80% Plus Earthquake and STFI extras
Group III 1.00% as applicable
Group IV 2.00%
Group V 0.20%
Note:
1. Plants and or Machineries working underground/tunnels should be rated at a
loading of 25 % over the above rates.
2. Underground level of open cast mine should not be considered for any loading.
Excess: For applicable Excess, please refer the HO guidelines.
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MACHINERY INSURANCE (MI) OR MACHINERY BREAKDOWN (MB) INSURANCE
Property Covered:
All electrical and non-electrical fixed items like electric motors, transformers, diesel generator
sets, air compressors, boilers, blowers, etc. situated within India.
No Machinery Insurance Policy should be issued to cover Electronic Equipments such

as Computers, Medical and Biomedical Equipments, Microprocessors, Audio/Visual
Equipments. These equipments are to be covered only under Electronic Equipments
Insurance (EEI) Policy
Moveable/Portable Equipments like Portable DG Sets can now be covered subject to-
• A loading upto 20% to be charged on the basic policy rate depending on the nature of
such equipments.
• The exclusion pertaining to loss of or damage to belts, ropes, chains, rubber, tyre,
dies, moulds, blades, cutters, knives or exchangeable tools such as drill bits and all
parts requiring regular replacement will continue.
• Machinery Breakdown Insurance is not to be extended to CPM equipments.
• Loss or damage sustained during transit and any loss/damage attributable to transit
shall be excluded under both Machinery Breakdown and Electronic Equipments Policy.
Scope Of Cover
Losses from unforeseen and sudden physical damage to all types of installed machinery
from following causes:
• Faulty material, design, construction, erection;
• Vibration, mal-alignment, mal-adjustment, falling, impact, collision and the like,
obstruction or entry of foreign bodies, etc.;
• Defective lubrication, loosening of parts, stress, explosion due to centrifugal force, or
internal pressure.
• Lack of Skill, carelessness
• Excessive Electrical Pressure, failure of insulation, short circuit arcing
• Failure of Protective device.
The cover applies within the insured’s premises specified in the policy, while the insured
plant is covered under the following situations:
• When it is at work or at rest.
• During cleaning and overhauling operation
• When being shifted within the premises
• During subsequent re-erection within the same premises
Policy Excess:
1% of sum insured of each items of machinery subject to minimum of Rs. 2,500/-.
Additional Covers:
• Express Freight (repairs)
• Air Freight
• Clearance & Removal of Debris
• Owners’ Surrounding Property
• Third Party Liability
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• Additional Custom Duty
• Escalation upto maximum 25%
Exclusions:
• Excess
• Fire, lightning, theft, subsidence, land slide, flood, storm, earthquake and other perils
which can be covered under SFSP policy.
• Damage during Experiments or overhauling or similar tests
• Damage due to faults/defects for which manufacturer is responsible
• Damage to Exchangeable parts
• War & warlike perils and Nuclear risks
• Gradually developing flaws, defects, cracks and Normal wear and tear
• Wilful act / negligence
• Consequential loss
• Defect in existence before insurance
Sum Insured/ Average:

The SI of each individual item must represent its new replacement value (current replacement
value) including transportation cost to site, custom duty, insurance premium, other erection
& installation cost. Condition of average is applicable in case of underinsurance.
Sum Insured should be declared for the machine as a whole and should not be apportioned
towards parts of the machine.
Premium:
• Minimum premium: Rs. 100/-
• Short period rates: As per short period rates for motor insurance.
• Escalation to the tune of 25% may be obtained by the insured
Basis Of Indemnification:
Repair basis:
• Expenses necessary to restore the damage machinery to its condition immediately
before the occurrence of the loss
a) No deduction for depreciation for parts with unlimited life.
b) Necessary bills and documents for repairs to be submitted.
c) The value of salvage, under-insurance and excess is deducted from loss.
d) Any extra charges towards repair such as Express Delivery, Overtime and
Holiday rates are payable if covered under policy at an additional premium.
Total loss basis:

• Actual value of item after applying depreciation from the replacement value of item
plus cost of removing the damaged machinery less the value of salvage and excess.
• Total loss means if the repair cost is equal or exceeds the value of the item.
Special attention should be given to the following points.

• Each Machinery should be entered with necessary specification as mentioned below:
- Serial No.
- Quantity, Description (Type, Model, Capacity of Machine Serial No. HP/KVA,
Volts, AMPS, RPM)
- Maker’s Name, and Country of Origin
- Year of Make
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- Sum Insured
• The Sum Insured must be calculated on the present day new replacement value of
the Machinery to be insured including provision for packing, freight and also value of
erection costs, customs duty, etc. to afford full protection under this Policy.
• If any of the Machinery is a ‘stand by’ this fact should be mentioned.
• All portable Machinery must be so designated.
• All items in the open must be so described separately.
• Separate value for foundations masonry and brickwork or Oil in transformers and other
electrical are to be specified if cover is required
• Machinery Breakdown Insurance Policy cannot be issued on Agreed Value basis.
• No Policy to be issued on First loss basis
• No Policy to be issued with a Bonus clause.
Rate Schedule
GROUP – I
Electrical Machinery Installed In Plants Other Than Cold Storage & Ice Plants
Tariff Rate Guide Rate

Risk Code Sr. No Item
(Rs %) (Rs. %)
H.T./L.T. Switchgears, Control Panel,
100106 (i) 1 Lightning Arrestors, Distribution 0.55 0.47
Boxes & Delta Starters
100213 2 Oil/Air Circuit Breakers 1.00 0.85
SF6 Circuit Breakers Vacuum Circuit
103113 3 1.00 0.85
Breaker
101116 4 Shunt Reactor 1.50 1.27
i) DG Sets with capacity upto 5 MW
102117 2 (a) 1.60 1.51
(Subject to DG set Endorsement)
Turbo Generator Sets with capacity
102416 2 (b) 1.50 1.32
upto 500 MW
GROUP-II
Rates For Mechanical Items (Machines Common To All Industries)
202602 28 Cooling Towers 0.30 0.29
Condensers, Chillers, Evaporators
202703 29 0.40 0.39
and Pre-heaters.
Cutting Machines/ Saws (Other than
202903 31 0.40 0.39
Shearing Machines)
50 Domestic Refrigerators 1.50 1.35
204910 53 Diffusers 0.75 0.65
Diesel Engine
205219 56 (Subject to Loss Minimisation 2.00 1.89
Endorsement)
209003 101 Heat Exchangers 0.40 0.39
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210503 115 Lathes (except CNC) 0.40 0.39
210608 116 Lathes (CNC) 0.65 0.57
212603 122 Belt Conveyors 0.40 0.39
GROUP III
Machinery In Cold Storage And Ice Plants
300120 Diesel Engines and Diesel Generators 2.50 2.27
1 Sets
300902 9 Condensers (Atmospheric type) 0.30 0.29
301010 10 Condensers (Shell & Tube type) 0.75 0.67
301103 11 Receivers 0.40 0.39
GROUP IV
Fertilizer Plants/ Petrochemical Plants/ Refineries
Process/Refrigeration Compressors
A
incl. their drives
400119 i) Turbine Driven 2.00 1.89
400216 ii) Motor Driven 1.50 1.42
Items Excluded Under MB Policy (Declined List Of Machines)

a) Stone Crushers
b) Rolling Mill-Stands, Pedestal bearing etc.
Raymond Mill
c) PVC lined, Rubber lined and such other lined vessels
d) Radios, Tape Recorders, TV Sets and Electric and Electrical measuring instruments
e) Cupolas and Oil fired furnaces
f) Pumps-with glass, graphite, rubber impellers
g) Pipe lines
h) Computers and other Electronic Equipments (To underwrite under Electronic Equipment
Insurance Policy)
i) Urea Scrubber, )
LP Scrubber, )
Ammonia Scrubber, ) in Fertilizer- appearing in group IV
Ammonia Storage Tanks )
Undesired Risk
Wind Mill
Machineries of Hydro Power Plants
Machines more than 10 years old
Generally the insurance of above machines should be avoided. However, subject to approval
of Competent Authority, the above can be insured after satisfactory pre-acceptance Risk
Inspection Report and profitability of the account.
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ELECTRONIC EQUIPMENT INSURANCE
EEI Policy Is Suitable For :
• Medical Equipments like X-ray, Ultrasound, Surgical, Diagnosis, ECG, EEG, Radiotherapy,
CT scan
• Communication Equipments like TV & Radio transmitters, Facsimile, telephone
exchanges, telex, Tele-printers,
• Aircraft navigation, Satellite transmission, videophone, modern intercom etc.
• Computers, printers and allied peripherals
• Fire alarm systems, smoke detectors, etc.
• Industrial - instrumentation, Process control Panels, etc.
• Miscellaneous - Time keeping devices, signaling, scoreboard etc.
• Auxiliary equipments - Servo controlled voltage stabiliser, UPS, isolation transformer,
• Room AC can also be covered under EEI policy along with the major equipments.
Scope Of Cover
The policy offers wide ranging cover in following three sections -
Section - I : Provides material damage cover to the main equipment.
Section – II : Provides cover to external data media used
Section –III : Provides cover to increased cost of working which arises due to damage to the
insured equipment.
Section-1 (Material Damage to Equipments):

This is an all risks policy and covers the following property whilst located at the specified
premises:
• Damage due to carelessness, negligence of employees
• Fire and other allied perils like lightning, explosion, flood , storm ,earthquake etc
• Damage due to moisture and humidity.
• Riot, strike, malicious damage
• Burglary, housebreaking or theft.
• Electrical, mechanical breakdown
Covers material damage to equipments only i.e. Physical/tangible part of machines with
auxiliaries like CPU, VDU (monitors), printers, key-board, speakers, external modems – even
the items which provide the computer environment like room air-conditioners, UPS, voltage
stabilizers –all such items are insured against above risks.
The cover applies to any unforeseen and sudden physical loss or damage from any causes
(other than those specifically excluded), in a manner necessitating repair or replacement.
Exclusions: As per policy

Note: Dish antenna, portable equipment like laptop and sonography equipments are excluded
from scope of cover of EEI policy Portable equipments can be covered under Portable
equipment policy under miscellaneous class of business.
Sum Insured/ Average:

The SI must represent its new replacement value (current replacement value) including
transportation cost to site, custom duty, insurance premium, other erection & installation
cost.
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Underinsurance is applicable.
Indemnity is cost of repairs plus the cost of dismantling and re-erection.
No deduction for depreciation for parts with unlimited life in case of repairs (i.e. for
partial loss).
The cost of any alterations, improvements or overhauls shall not be recoverable under the
policy.
Deductible:
Sum Insured of Normal claims Winchester and Hard disk
individual machine % of claim subject to minimum % of claim subject to min
Upto Rs 100,000 5%; Rs 2500 10%; Rs 2500
>Rs 100,000 5%; Rs 2500 25%; Rs 10000
Section-2 (Material Damage to External Data Media): (Optional Cover)
Exclusions: Loss /damage due to

• Excess stated in the schedule
• Any cost arising from false programming, punching or inadvertent cancelling of
information etc.
• Consequential loss of any kind
Section-3 (Increased Cost of Working): (Optional Cover)
Indemnity Period:
The period in weeks or days as per the choice of insured and commences with putting into
use the substitute equipments.
Sum Insured:
The indemnity limit per hour has to be declared by the insured. The limit multiplied by the
indemnity period is the maximum SI per occurrence.
The total SI shall represent the aggregate limit for all occurrences during the policy period.
Under insurance is applicable.
Time Excess: The excess is specified in terms of days.

Rating
1 Equipments 1.00%
2 External Data 1.00%
3 Increased Cost of Working Depends on Indemnity Period
The Rates are as per erstwhile EEI Tariff.
Discounts For Deleting Fire And Allied Perils:
S.No. COVER DISCOUNT
For equipments covered under EEI Policy as
20% of the applicable EEI
1. also under Standard Fire and Special Peril
Rate
policy and Earthquake Fire and Shock (EFS)
- 56 -
For equipments covered under EEI Policy as also
under Standard Fire and Special peril policy 15% of the applicable
2.
without anyone or two of the additional cover EEI rate
such as STFI or RSMD or EQ
For equipments covered under EEI Policy as also
3 under Standard Fire and Special peril policy 10% of the applicable EEI Rate
without STFI and RSMD and EQ
Loading for waiver of warranty relating to Maintenance Agreement:

• The rates are applicable subject to warranty that annual maintenance agreement is in
force during the currency of the policy. Warranty is printed in the policy.
• Maintenance warranty shall include

I - Safety Checks,
II - Preventive Maintenance,
III - Rectification of loss or damage or faults arising from normal operation.
• Warranty relating to maintenance agreement can be waived by charging the following

loading:
Equipments* with Sum Insured upto Rs. 1 Lakh 25 % loading on guide Rates
Equipments* with Sum Insured above Rs. 1 lakh 50 %loading on guide Rates
For Personal Computers with Sum Insured upto Rs. 1 Lakh Maintenance Agreement warranty
is waived.
• Where competent in-house maintenance facilities are available, the warranty relating to
“Maintenance Agreement with the manufacturers of the Equipment” could be deleted
for all Electronic Equipments except “Medical equipments” covered under EEI.
• There is facility for loading and discounts for claims experience and discount for opting
higher excess.
Add-On Covers:
1. Escalation Clause
2. Express freight.
3. Air freight.
4. Owners Surrounding property.
5. T.P. Liability (10% of the Sum Insured subject to a maximum amount of Rs.10 crs.
per location.)
6. Additional Customs Duty.
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BOILER & PRESSURE PLANT (BPP)
Items Covered:
Boilers and other pressure vessels (which generate pressure during their normal operations)
situated within India.
Scope Of Cover:
• Explosion and collapse damage to the boiler &/or other pressure plant (other than by
fire/chemical explosion which is covered under the SFSP policy).
• Damage to surrounding property of the Insured (other than by fire) for selected limits
of indemnity, on first loss basis (Without under insurance).
• Legal liability for death, bodily injuries or property of third party (Excluding Employees)
for selected limits of indemnity, on first loss basis (Without under insurance).
Sum Insured:
• The boiler and pressure plants are covered for their present day new replacement value
(Inclusive of freight, Customs Duty and Erection cost) with a view to avoid under-
insurance.
• Boiler and Pressure Plant Insurance Policy cannot be issued on agreed value basis.
• Escalation benefit shall not be allowed under a Boiler and Pressure Plant Policy.
Extensions Of BPP Policy:

By payment of additional premium, following risks can be covered:
• Express freight (air freight excluded), holiday and overtime rates of wages
• Air freight only
• Additional Custom Duty
• Surrounding property damage
• Damage to third party property, death / bodily injuries.
Rating
Group Type of Boiler Basic Premium Stipulated age
rate for basic rate
(Rs. Per mille) (Years)
a) Coal or Oil or Pulverized Coal, Fired 1.20 25
1 boilers:
i) Furnace-flue and fire tube boilers
of the Lancashire, Scottish and
locomotive type as well as vertical
boilers, water tube boiler. 1.20
ii) Combined fire-tube and water 1.20

tube boilers, other fired vessels
including package boilers.
b) Bagasse Fired Boilers
Recovery boilers, waste heat boilers, gas 1.80 20
2 fired boilers.
3 Unfired vessels 0.60 20
4 Steam pipes 0.30 --
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1. For recovery boilers, the basic rate is including explosion due to smelt water reaction.
2. The basic rate is applicable upto the age stipulated
3. The basic rate will have to be increased @ 0.005 per mille per year for each year in
excess of the stipulated age.
Example for (1) age of boiler at the time of insurance is say 30.
Rate = 1.20 + 0.005 x (30-25)
= 1.20 + 0.025
= 1.20 + 0.025 = 1.225 per mille
4. For boilers not certified by the boiler inspector the rate to be loaded by 50 %
5. For TPL and surrounding property the rate applicable will be 25 % of the rate applicable
as in 3 & 4 above.
6. Boilers, which may be fired by oil or gas alternatively, shall be rated as gas-fired
boilers.
Warranties:
BPP comes under statutory regulations. Following conditions specifically apply to BPP:
• The insured boiler should be certified by boiler inspector for use. Otherwise the
premium rates to be loaded by 50% for the current session only.
• Boilers being operated by persons holding valid certificates.
• Permission to use the boiler from the authority (by the boiler inspector).
1. Indemnity is cost of repairs plus the cost of dismantling and re-erection.
2. No deduction for depreciation for parts with unlimited life in case of repairs (i.e. for
partial loss).
3. The cost of any alterations, improvements or overhauls shall not be recoverable under
the policy.
Policy Condition: Special Conditions to this policy are:

a) The pressure or load on safety valves of the plant shall not exceed the maximum
specified in the schedule or mentioned on the last inspection report, whichever is
lower.
b) Any alteration of fuel used for the plant must be notified to the Company and additional
premium paid if required.
c) The insured shall comply with manufacturer’s instructions and all statutory and
municipal regulations.
d) The Company has a right to inspect the insured plant.
Exclusions:
• Fire and allied risks of standard fire and special perils policy,
• Damage by chemical explosion except in recovery boilers and waste heat boiler.
• Wear and tear, wasting of boiler materials.
• Failure of individual tubes
• Other exclusions of MB insurance
Compulsory Excess:
5% of claim amount subject to a minimum of Rs 10,000/- for basic policy and also for all
the extensions.
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DETERIORATION OF STOCKS INSURANCE (POTATOES)
General Regulations
1. No policy to be issued on first loss basis
2. No policy to be issued with a bonus clause.
3. For a single risk, different policies shall not be issued for different compartments
4. Excess amounts are minimum and cannot be eliminated by payment of additional
Premium
5. Cold storages located outside India shall be out of the jurisdiction.
6. Rates and excess for compressors: For compressors of size falling between two
consecutive slabs provided in the guide rates, the rates and excess applicable for the
higher slab shall be applied.
7. DOS cover due to breakdown in the stand-by diesel generator sets:
a. This cover can be granted only to those cold storages which have opted for the
FOES extension.
b. The stand-by D.G. Sets are put into operation only at the time of failure of public
electricity supply and in the event of a breakdown in the stand-by D.G. Set, the
peril in force will be FOES and not the breakdown.
c. In all such cases the insurers shall ensure that D.G. Sets are of sufficient
capacity and are properly maintained.
d. Insurers shall inspect the risk for its capacity and maintenance periodically,
particularly before acceptance of the risk and its renewals.
Definition of cold storage :

(i) New Cold Storage: New Cold Storage means the cold storage proposed for insurance
for the first time. The date of construction is not material.
(ii) New additional chamber to the existing cold storage: Definition of new cold storage
given above will apply to new additional chamber also. Unless the cold storage
owners produce a certificate of prior insurance, the new additional chamber will be
treated as new cold storage and rates, terms and conditions of new chamber to the
old cold storage will apply.
(iii) Existing cold storage: Existing cold storage means cold storage presented for insurance
not for the first time. The date of construction is not material. If the insurance is
transferred from one Company to other, on renewal, the Company accepting transfer
business will have to make sure that the insurance was taken by the insured with the
previous Company for the previous year.
For this purpose, the cold storage owner will have to produce a letter from the previous
insurer that cold storage was insured during the previous season with ......... Insurance
Company. A simple statement giving Policy No. and the name of the insurer is NOT
enough.
If he fails to produce such a letter it will be taken that the insurance is taken for the
first time and rates, terms and conditions for a new cold storage would apply.
(iv) A cold storage which was already proposed for insurance couple of years back but
was not insured for a period of one, two or three years (i.e. there was no continuity
of insurance) and comes up again for insurance should be treated as “new cold
storage.”
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Declaration facility : Policies on declaration basis are permissible on the following terms
and conditions.
(a) This facility will be available to the insured in case value of the stocks, based on
maximum capacity of the cold storage, is more than Rs.50 lakhs and period selected
is 12 months. For periods lower than 12 months or for sum insured less than
Rs.50 lakhs, no declaration facility will be available.
(b) The insured shall submit fortnightly declarations which shall be recorded in the books
by the insurer immediately.
(c) The premium for each month shall be calculated on value of maximum stocks held on
any single day during the month. The premium for the total period shall be computed
on this basis.
(d) In case the insured fails to send periodical declarations, he shall forfeit right of
declaration facility and no premium shall be refunded.
8. Machinery Insurance policy issued to cold storages, can be endorsed to include

electrical fire risk without charging any additional premium.
9. Rack structure collapse is not a machinery breakdown risk and hence should not be
covered under DOS Policy.
10. Explosion risk (if any) in the equipments should be covered under fire policy and not
under a DOS policy.
11. The minimum premium per policy shall be Rs.1,500/- or 60% of the premium
calculated on the basis of the capacity of the refrigeration plant at the above rate
(as applicable) whichever is higher.
In case of declaration policy for potato cold storages,100% premium should be collected
based on maximum capacity of cold storages, on the basis of declarations. Maximum
refund of 50% can be allowed to the insured at the end of the policy period.
12. Refund of Premium for mid-term cancellation of policy: The premium to be retained by
the insurer shall be 120% of the Erstwhile tariff Rate for the period for which the risk
has run, subject to minimum of 7 Months premium.
13. Before granting FOES (Failure of Electric supply) extension under DOS policies, it
should be made sure that power supply is available for a minimum period of 16
hours per day to the cold storage which seeks FOES extension. The DOS cover
with FOES extension cannot be given to a cold storage which does not have stand by
D.G Sets or Oil Engine coupled to compressors.
The Insured should have 100% capacity to run the cold storage through D.G Set/Oil Engine.
14. MB and DOS policies must be with one office only.
15. In case extension of policy period is desired during the currency of the policy, the rate
applicable for such extension period shall be the monthly tariff rate loaded by an extra
of 25% which should be applied on the balance Sum Insured as on the date of expiry
of the initially selected policy period.
16. DOS proposals for storage items other than Potatoes (such as Meat, Vaccines, Ice-
creams etc.) may be decided by Regional Office.
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CONTRACTOR’S ALL RISK INSURANCE (CAR)
CAR policy provides “All Risk” cover, except for those specifically excluded. The policy can
be extended to cover third party liability and other exposures.
Risks Covered:
All risks namely fire, lightning, riot, strike, malicious, bad workmanship, burglary/ theft,
accidental external means etc. Civil construction should be more than 50%.
Projects Covered:
Civil Engineering projects for residences, factories, warehouses, bridges, roads, canals,
dams, hospitals, schools etc.
General Exclusions -
a) War and kindred risks and nuclear risks
b) Willful act or willful negligence of the Insured or of his responsible representative;
c) Cessation of work whether total or partial.
The coverage under CAR is under two sections: Material Damage and Third Party
Liability.
Sec – I. Material Damage:

This section covers loss or damage to the property described in the schedule by covered
perils subject to item wise SI. The cost of clearance and removal of debris (Only of the
insured property) is reimbursed, if the claim is admissible, subject to SI for the item.
Main Exclusions To Section – I: As per policy
Provisions Applying To Section – I
Memo 1 - Sum Insured:

• Sum insured is the completely erected value of the property inclusive of freights,
custom duty, erection cost.
• The insured undertakes to increase or decrease the SI in the event of any material
fluctuation in the level of wages or prices.
• Under Insurance is applicable
• In cases where the SI for CAR is required to be increased during the policy peroid,
the premium should be collected on the additional SI on applicable CAR rates since
inception of policy.
Memo 2 - Premium Adjustment For Variable Costs:

Sum Insured is adjustable at the end of policy period based on the actual value for variable
charges like freight, handling charges, custom duties, construction cost.
Difference of premium (Actual vs. Provisional charged) is refunded to insured.
Any increase or decrease in the Prime cost of materials shall not be the subject matter
of premium adjustment.
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Memo 3 - Reinstatement Of Sum Insured:
The Insured undertakes to pay a pro-rata additional premium on the full amount of each claim
for the loss or damage from the date of such loss to the expiry of the period of Insurance.
Memo 4 - Basis Of Loss Settlement:

a) In the case of damage which can be repaired, the cost of repairs necessary to restore
the property to their condition immediately before the occurrence of the damage less
salvage,
OR
b) in the case of a total loss - the actual value of the property immediately before the
occurrence of the loss less salvage;
If the cost of repairing any damage equals or exceeds the value of the property
immediately before the occurrence of the damage, the settlement shall be made on
total loss basis.
The cost of any provisional repairs will be borne by the Company if such repairs
constitute part of the final repairs and do not increase the total repair expenses.
The cost of any alterations, additions and/or improvements shall not be recoverable
under this Policy. No provision for abandonment under the policy.
Memo 5 – Period Of Cover & Extension Of Cover:

Period of Insurance commences from the commencement of work at site or from unloading
of the materials at the site (Whichever is earlier) and will expire on successful commissioning
of the Project or the date specified in the policy (Whichever is earlier). If project is not
completed, policy can be extended before expiry by payment of additional premium subject
to notification in advance and approval of the insurers. The rates for extension beyond policy
period shall be as given in erstwhile tariff.
The maintenance period and extra maintenance period can be covered by payment of extra
premium. Maximum Extended maintenance period to be given is 24 months.
Any extra charges incurred for overtime, work on holidays, express freight (excluding air
freight) are not covered by this insurance unless agreed upon at an additional premium to be
prescribed by the Company.
Memo 6 - Construction Plant And Machinery:

This has to be insured as a separate item. It covers:
Loss of or damage to Construction Plant and Machinery and excludes loss or damage directly
caused by its own explosion or its own mechanical or electrical breakdown or derangement.
Pro-rata average applies. Maximum cover for CPM under the CAR policy is 5% of the Project
SI subject to max of 25 lacs.
Memo 7 - Surrounding Property: (This is an optional cover).

Loss of or damage to property located on or adjacent to the site and belonging to or held in
care custody or control of the Principal (s) or the Contractor(s) shall only be covered if
occurring directly due to the construction of the items insured under Section I and happening
during the period of cover, and provided that a separate Sum therefore has been entered in
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the Schedule under Section I, for Principal’s surrounding specified property.
This cover does not apply to construction/erection machinery, plants and equipment.
Memo 8 - Major Perils/AOG Perils:

The major peril/Acts of God perils mentioned in the policy are-
Earthquake - Fire & Shock, Landslide/Rockslide/Subsidence, Flood/Inundation, Storm/
Tempest/ Hurricane/Typhoon/Cyclone/Lightning or other atmospheric disturbances,
Collapse, Water damage for ‘wet’ risks i.e. contract involving works in rivers, canals, lakes
or sea.
Sec – II. Third Party Liability:

This cover is at the option of the insured. This covers
a) Legal liability of the insured to pay compensation for accidental loss or damage caused
to property of other persons including property held in trust by or under custody of the
Insured excluding any such property used in connection with construction thereon.
b) Legal liability for fatal or non-fatal injury to any persons subject to the limits of
Indemnity specified in the Schedule.
c) In addition, all costs and expenses of litigation recovered by any claimant and all costs
and expenses incurred by the insured are payable subject to written consent of the
insurer.
• Exclusions To Section- II
a) Excess
b) Liability for bodily injury to or illness of employees or workmen of the Contractor(s)
or the Principal(s) or any other firm connected with the project or members of their
families;
c) Liability for Loss of or damage to property belonging to or held in care custody or
control of the Contractor(s), the Principal(s) or any other firm connected with the
project, or of an employee or workman of one of the aforesaid;
d) Liability following an accident caused by vehicles licensed for general road use or by
waterborne vessels or aircraft;
e) Liability assumed by special agreement.
Payment Of Premium:
• Premium installment facility is given in all project policy with period of insurance more
than 12 months
• Frequency of installment is either quarterly of half-yearly
• The first installment premium must be paid, on or before the commencement of
cover and this first installment premium will be calculated & collected at 5 % (of total
premium) higher than the all other equal installments.
• Last installment premium should be paid at-least 6 months prior to the expiry of policy
period.
- 64 -
Annexure 1- Guide Rate Schedule For Contractors’ All Risks Insurance Having Sum
Insured Upto Rs.100 Crore (Deductibles To Be Amended As Per Circular Above)
Excess - 5 % of claim
amount subject to Minm
Premium Rates (%o)
for revised excess Pl
S. refer table that follows
Risk Code Risk
No Addl. Rate
Minm Rate AOG/Major
per month
upto first 3 Normal Perils/
beyond 3
months Collapse
months
(1) (2) (3) (4) 1) (5) (6) (7)
1. Residential and commercial buildings, Office buildings, Schools, Universities, Hotels,
Motels, Restaurants, Hospitals, Airport buildings of –
011011 a) Other than RCC and not more 1.00 0.02 3,000/- 10,000/-
than 2 storeys
012032 b) Other than RCC and 1.75 0.025 5,000/- 20,000/-
exceeding 2 storeys and upto
5 storeys
013022 c) RCC framed structure not 1.50 0.025 5,000/- 20,000/-
more than 5 storeys
014043 d) RCC Framed structure 2.00 0.03 5,000/- 20,000/-
above 5 storeys and upto 10
storeys
-- e) RCC Framed structure above 2.25 0.035 5,000/- 20,000/-
10 storeys and upto 15
storeys
016096 f) RCC Framed structure above 3.00 0.05 50,000/- 2,00,000/-
storeys
017106 g) RCC Framed structure above 3.25 0.05 50,000/- 2,00,000/-
storeys
--- h) RCC Framed structure above 3.50 0.05 50,000/- 2,00,000/-
storeys
--- i) RCC Framed structure above 3.75 0.05 50,000/- 2,00,000/-
storeys
--- j) RCC Framed structure above 4.00 0.05 50,000/- 2,00,000/-
storeys
2. Theaters, Auditorium and Cinema Halls -
021041 a) Height not exceeding 22 m 2.00 0.02 3,000/- 10,000/-
and span not exceeding 10 m
022043 b) Height not exceeding 22 m 2.00 0.03 5,000/- 20,000/-
and span exceeding 10 m
- 65 -
Premium Rates (%o)
Risk Code Risk
No Addl. Rate
Minm Rate AOG/Major
per month
beyond 3
months Collapse
months
(1) (2) (3) (4) 1) (5) (6) (7)
023063 c) Height exceeding 22 m and 2.25 0.03 10,000/- 40,000/-
span not exceeding 10 m
024073 d) Height exceeding 22 m and 2.50 0.03 10,000/- 40,000/-
span exceeding 10 m
3. Factory sheds, Warehouses, Cold storages, Hangars –
031061 a) Other than RCC construction 2.25 0.02 10,000/- 40,000/-
032041 b) RCC 2.00 0.02 5,000/- 20,000/-
033051 c) Hangars having walls of I) 2.125 0.02 10,000/- 40,000/-
RCC or ii) Rolled steel in 50
mm thick concrete or 100
mm thick masonry with panel
walls of RCC, burnt bricks,
stone or concrete bonded
in cement and/or lime
mortar and having roof of
combination of RCC and GI/
Aluminium/AC Sheets on
steel RCC framework.
4. Chimneys, Silos and Cooling Towers (other than hyperbolic or natural draught type) TV
Towers -
041072 a) Upto 15 m height and 2.50 0.025 10,000/- 40,000/-
exceeding 10 m diameter.
042115 b) Exceeding 15 m height and 3.50 0.04 10,000/- 40,000/-
exceeding 10 m diameter.
043128 c) Hyperbolic or Natural draught 4.00 0.105 1,00,000/- 2,00,000/-
cooling tower
5. Roads –
051042 a) In townships only 2.00 0.025 5,000/- 20,000/-
052073 b) In Plain Areas 2.50 0.03 5,000/- 20,000/-
053095 c) In Hilly/Ghat areas 3.00 0.04 10,000/- 40,000/-
Notes – 1. Where value of culverts and Road bridges does not exceed 20 % of the contract value,
the same may be deemed as covered at the above rates. Where the value exceeds 20 %,
the proposal shall be rated as per Tariff Item ‘Culverts and Canals’ (not involving works
in water).
2. Where the tunnel value exceeds 10% of the contract value, a reference should be made
to HO for rate of premium to be charged in addition to the above rates.
061097 6 Interior decoration works 3.00 0.10 10,000/- 40,000/-
- 66 -
Premium Rates (%o)
Risk Code Risk
No Addl. Rate
Minm Rate AOG/Major
per month
beyond 3
months Collapse
months
(1) (2) (3) (4) 1) (5) (6) (7)
071042 7 Runways, Aprons and Air 2.00 0.025 5,000/- 20,000/-
Taxiways at Airports.
-- 8 Flyovers on Land -
081073 a) Span not exceeding 15 m 2.50 0.03 5,000/- 20,000/-
082095 b) Span exceeding 15 m 3.00 0.04 10,000/- 40,000/-
--- 9 Subways on Land –
091073 a) Width not exceeding 15 m 2.50 0.30 5,000/- 20,000/-
092095 b) Width exceeding 15 m 3.00 0.40 10,000/- 40,000/-
10. Road bridges on land made of –
101096 a) Steel 3.00 0.05 5,000/- 20,000/-
102116 b) RCC or Pre-stressed 3.50 0.05 10,000/- 40,000/-
concrete
103136 c) Other materials 5.00* 0.10* 20,000/- 80,000/-
* Provisional rates, reference to be made to HO for final rate quotation.
11. Bridges on rivers/creeks, dams/coffer dams, aqua ducts, via-ducts, barrages, structure
works in water –
111127 -- Weir-cum-causeway 6.00 0.10 1,50,000/- 5,00,000/-
Note - In respect of bridges, the above rates will be applicable only when both sub- structure and
super-structure are covered. Otherwise reference should be made to HO
12. (I) Reservoirs/Tanks of materials (Other than steel) –
121093 a) Surface and under ground 3.00 0.30 5,000/- 20,000/-
122115 b) Overhead 3.50 0.40 5,000/- 20,000/-
(II) Reservoirs/Tanks of steel –
123062 a) Surface and under ground 2.25 0.025 5,000/- 20,000/-
124073 b) Overhead 2.50 0.03 5,000/- 20,000/-
13. Tunnels –
131157 I Above sea level 7.00 0.10 2,00,000 5,00,000
132167 II Below sea level 10.00 0.10 4,00,000 8,00,000
133147 -- Bridges on rivers/ creeks, 6.00 0.10 1,50,000 5,00,000
Dams, Coffer dams etc.
14. Laying of oil/gas pipelines -
140001 a) On Land Provisional rate Rs.15 per mille
140002 b) Under Sea or River Reference to be made to HO for final rate quotation.
15. Water supply -
- 67 -
Premium Rates (%o)
Risk Code Risk
No Addl. Rate
Minm Rate AOG/Major
per month
beyond 3
months Collapse
months
(1) (2) (3) (4) 1) (5) (6) (7)
151043 -- Water Supply Installations 2.00 0.03 3,000 10,000
for housing colonies
including pump house
with pumps, valves and
piping and water supply
lines but excluding water
storage tanks
Note - Laying of Water Pipelines Water Supply Scheme - to be rated as per EAR tariff (Cir. No.
EAR/45/97-16 dated 11-6-97)
16. Sewage disposal –
161043 -- System for Housing 2.00 0.03 3,000 10,000
Colonies including Pump
house with pump, sewage
treatment Plant, holding
ponds, sewer/ drainage lines
and storm water drains &
Channels
171073 17 Underground and overhead 2.50 0.03 3,000 10,000
water storage tanks for
residential/ comm.- ercial
buildings and housing
colonies
181013 18 Ground leveling and area 1.00 0.03 3,000 10,000
reclamation work
191011 19 Fixing of pre-cast RCC Parts 1.00 0.02 3,000 10,000
for buildings, construction
of compound wall and
weather sheds for existing
building/ apartments
201011 20 Other sundry works for 1.00 0.02 3,000 10,000
residential/ commercial
buildings like water proofing
plastering of walls
211137 21 All other risks not covered 5.00* 0.10* 20,000* 80,000*
above
221089 22 Under ground cable ducting 2.75 0.50 20,000 80,000
231128 23 Natural Draught Cooling 4.00 0.105 1,00,000 2,00,000
Towers
- 68 -
Premium Rates (%o)
Risk Code Risk
No Addl. Rate
Minm Rate AOG/Major
per month
beyond 3
months Collapse
months
(1) (2) (3) (4) 1) (5) (6) (7)
241116 24 Pile Foundations alone in 3.50 0.05 1,00,000 2,00,000
respect of buildings & other
structures
251087 25 Canals/ culverts (Not 2.75 0.10 20,000 80,000
involving works under water)
Note - Refer Item -5 (Roads) for canals / culverts forming part of the Road construction
260000 26 Railway Gauge conversion 3.00 0.03 10,000 40,000
(Meter gauge to Broad
gauge)
270000 27 Acquaculture Project: Laying of HDPE Pipes/Accessories for Sea Water Intake
Systems for Acquaculture Project - to be rated as “Works in Water”
Note - Circular No Engg/Gen-24/2000-2 dtd 29-3-2000 - By this decision, it is allowed to cover the
‘Exclusion-C-Section-1’ which excludes losses arising out of ‘breakage of glass’ among
other things as indicated in the exclusion-c) by payment of additional premium. i) CAR rate
so worked out as per tariff provision should be loaded by 25 % ii) Excess on glass items shall
be 10% of aggregate Sum Insured of all glass items.
Excess Or Deductible: Applies separately for each and every claim. The Insured can opt
higher amount of excess and earn discount in premium (Refer Company’s guidelines for
details)
TABLE OF DEDUCTIBLES APPLICABLE TO ‘CAR’ POLICIES
Description Limit Compulsory Deductible

All Deductibles to be increased to 5 times of
Upto 1500 Crs
minimum excess mentioned in Tariff.
All Deductibles to be increased to 10 times of
1. Normal / AOG /Major 1500 to 2500 Crs minimum excess mentioned in Tariff.
Perils/Collapse Claims All Deductibles to be increased to 15 times of
Above 2500 Crs minimum excess mentioned in Tariff.
** For expression pls. see below
*
1. Storage Risks at the For Sum Insured - Rs. 5,000/- per claim during storage
Fabricator’s Premises/ selected
Workshop - 10 % of claim amt. subject to min of testing
period excess per AOG/Fire/Explosion claim
*To be increased as stated in Point No. 1.

- 69 -
2. Specialized risks 5%of claim amount subject to a minimum of
(The following risks Rs.50 lakhs for normal and Rs.1.5 crs. for
would be termed Testing/Fire/Explosion/AOG/Collapse/Major
as specialized perils losses
risks – all works in
water,dams, canals,
hydro power projects,
tunnels,irrigation
systems and caverns)
*Refer (HO CMD sect. circular no. 009/2011-12, dated 19/05/2011)

** Normal period claims - 5 % of claim amount subject to minimum of Rs……….. eec
AOG/Major Perils/Collapse perils calims - 5 % of claim amount subject to minimum of

Rs……….. eec
- 70 -
ERECTION ALL RISK (EAR) OR STORAGE CUM ERECTION (SCE)
This policy is for Projects where the Erection of Plant, Machinery, Equipments & Structures
are the major part of the Project and has insignificant percentage of value towards civil
works.
Various Stages Covered: Storage /erection /cold & hot testing of all kinds of machinery.
Coverage:
Material Damage cover, Third Party Cover and exclusions are same as CAR, except the
following:
EAR policy also excludes loss or damage due to faulty design, but unlike CAR, provides that
the exclusion shall be limited to the item affected and shall not exclude other insured items
resulting from excluded perils.
Sum Insured, Premium Adjustment (Reference in this clause is made to prime cost of Plant
& Equipment), Basis of loss settlement, Reinstatement of SI and Optional Covers are same
as CAR policy.
Risks Covered:
All Risks insurance policy (driven by exclusions) and mainly covers the following named
risks:
• Location risk: fire, lightning, theft and burglary.
• Operation risks: leakage of electricity, insulation failures, short circuit, explosion, etc.
• Human risks like carelessness, negligence, faults in erection, riot/strike/malicious
damage (RSMD).
• Natural calamities like Flood, storm, cyclone, landslide, subsidence, etc.
• Accidental external means like accidental falling of objects, impact and thereby
the resultant damage of property.
Extension Of EAR Policy: Mostly same as CAR
Period Of Cover:
Insurance cover under EAR commences after unloading of first consignment at site.
The policy period continues the entire period of storage, erection, testing (until testing
operations 100% capacity/72 hours - have been completed and the project is declared as
successfully commissioned) and thereafter maintenance (either limited maintenance or
extended maintenance)
In case of second- hand / used property, the insurance shall cease immediately on the
commencement of the test.
Sum Insured: Equal to replacement cost of project. Sum insured is the landed cost of items
at project site plus freight, cost of erection, etc.
Payment Of Premium For EAR: provision for instalment as in CAR
Testing Period: Testing operations can be divided in to two categories, Cold and Hot Testing.
- 71 -
Cold Testing (Functional Testing): Checking of parts and elements of insured property by
mechanical, electrical, hydrostatic or other form of testing under ‘no load’ condition and
excludes the operation of furnaces or the application of any direct and indirect heat, the use
of feedstock or other materials for processing.
Hot Testing (Operational & Commissioning Testing): The checking of parts, elements &/
or production lines of insured property under full or partial load and normal or stimulated
operating condition including the use of feedstock or other material for normal processing or
other media for load stimulation.
Method Of Rate Calculation -

A) Rate for first two months of the project period (first month plus one month’s testing).
B) Additional Rate for balance period (refer erstwhile tariff or some guide rates given
below)
C) Add-On Rates
D) Less detariff discount on total rate
E) Add STFI (& EQ, Terrorism, if opted for)
Underwriting Considerations
• Proposal form: Duly completed proposal form/RFQ/Broker Slip from the Broker with
full risk details is to be obtained viz: risk profile, location details, Add-ons required, date
of arrival of first consignment of the materials to site, etc.
• Name of the Principal / Contractors / Sub – Contractors and their experience in similar
type of projects
• Nature of Project
• Whether second hand machineries used in erection
• Duration of project along with testing period required
• Storage – whether in open or Godown & Security arrangements
• Risk Exposure: Normal/AOG perils, work in monsoon/rainy season
• Location: Whether in Hilly/Ghat area, works in water
• Accessibility to the risk site: (proper connectivity by rail/road etc) so as to facilitate
repair/replacement of property in case of a loss
• Client’s profile (Other business, profitability, etc.)
• Rate code/ Risk code, Premium involved & calculation details
• In case of extension of project policy, the ICR during the original policy period to be
gathered along with the reasons for delay in project and the % & nature of the works
remaining and the likely date of completion of the project
• PML assessment
• Deviations, if any
Issue Of Fire Policy During The Testing Period:

No Fire Policy can be issued during ‘Testing Period’ for items covered under EAR/SCE policy.
Excess: Applies separately for each and every type of claim like Testing claim, Maintenance
Claim and storage & erection claim. The Insured can opt higher amount of excess and earn
discount in premium.
- 72 -
List Of Add On Covers Which Can Be Given Based On Merit And Special Approval:
EAR POLICIES
1. Project amendment clause
2. Destruction of insured property
3. Removal to place of safety
4. Temporary works clause
5. Put to use clause (in case of Multi storied buildings)
6. Removal of debris including foreign debris
7. Property In Course of Construction
8. Capital Additions
9. Inadvertent omission
Annexure 2- Some Common EAR Insurance Rate Schedules (Refer Co Guidelines For
Details)
Risk Code Sl. Description Rate for Rate for 1 Rate for 1 Rate for Excess per claim is
No. 1st Month month or part month or 1 month 5 % of claim amount
+ 1 month thereof, for part thereof, or part subject to minimum
testing subsequent for period thereof, (Please refer table
(Rs. %o) 10 months exceeding for testing that follows)
(Rs. %o) 12 months period Normal Testing
(Rs. %o) extension period
within
policy
period (Rs.
%o)
1 2 3 4 5 6 7 8 9
‘A’ - - - -
010202 2 Air Conditioning Plant 2.25 0.05 0.025 0.30 10,000 30,000
010403 4 Arc Furnace 2.50 0.05 0.05 0.30 15,000 40,000
010601 6 Ash Handling Plants 2.00 0.05 0.025 0.30 10,000 30,000
010902 -- b) Aluminium products Manufacturing Refer R – 1 ‘Rolling Mills’
‘B’ - - - - -
020201 2 Bakeries 2.00 0.05 0.025 0.30 10,000 30,000
020401 4 Belt Conveyor Systems 2.00 0.05 0.025 0.30 10,000 30,000
020502 5 Blast Furnace 2.25 0.075 0.05 0.30 15,000 40,000
-- 6 Boilers -
021603 -- Industrial 2.50 0.05 0.03 0.30 10,000 30,000
-- -- Power Boilers -
020701 7 Bread Factories 2.00 0.05 0.025 0.30 10,000 30,000
020801 8 Breweries 2.00 0.05 0.025 0.30 10,000 30,000
020901 9 Brick Works 2.00 0.05 0.025 0.30 10,000 30,000
021001 10 Butter Plants 2.00 0.05 0.025 0.30 10,000 30,000
‘C’ - - - -
030102 1 Cable Works 2.25 0.05 0.025 0.30 10,000 30,000
030205 2 Cable laying * 2.75 0.10 0.05 0.40 20,000 80,000
030401 4 Cattle Feed Plants 2.00 0.05 0.025 0.30 10,000 30,000
030502 5 Cardboard Factories 2.25 0.025 0.025 0.30 10,000 30,000
030603 7 Cement Factories 2.50 0.05 0.025 0.30 10,000 30,000
- 73 -
030703 8 Cement Pipes Mfg. 2.50 0.05 0.025 0.30 10,000 30,000
035901 9 Ceramic Tiles Manufactu- 2.00 0.05 0.05 0.30 10,000 40,000
ring Plants (Involving,
pulverising drying &
glazing process)
030801 10 Cereal Products 2.00 0.05 0.025 0.30 10,000 30,000
030903 11 Chalk Factories 2.50 0.05 0.025 0.30 10,000 30,000
031102 13 Chilling Plants 2.25 0.05 0.025 0.30 10,000 30,000
0031201 14 Cheese Plants 2.00 0.05 0.025 0.30 10,000 30,000
031303 15 Chemical Plants 2.50 0.05 0.05 0.30 10,000 30,000
031501 17 Chocolate Factories 2.00 0.05 0.025 0.30 10,000 30,000
031801 19 Clinker Factories 2.50 0.05 0.025 0.30 10,000 30,000
031901 20 Coal Crusher 2.00 0.05 0.025 0.30 10,000 30,000
--- 22 Cold Storages -
-- -- Potatoes 2.25 0.05 0.025 0.30 10,000 30,000
-- -- Marine Products 2.25 0.05 0.025 0.30 10,000 30,000
-- -- Others 2.25 0.05 0.025 0.30 10,000 30,000
*Subject to Endorsements/Warranties nos. 110, 111, 112, 114. & 115
032201 24 Computers/Electronic 2.00 0.05 0.05 0.30 30,000 FLAT for both
equipments not otherwise normal & testing periods
provided for
032301 25 Confectionery Works 2.00 0.05 0.025 0.30 10,000 30,000

032401 26 Control Panels 2.00 0.05 0.05 0.30 15,000 40,000
032503 27 Continuous Casting 2.50 0.05 0.05 0.30 15,000 40,000
Plants
032601 28 Cotton Seed Processing 2.00 0.05 0.025 0.30 10,000 30,000
Plants
032901 31 Cooling Towers 2.00 0.05 0.025 0.30 10,000 30,000
(Induced Draught Type)
-- -- Combined Cycle Power Plant :--- Refer item ‘Gas Turbines’
‘D’ - - - - -
040101 1 Dairy Plants 2.00 0.05 0.025 0.30 10,000 30,000
040201 2 Dal Mills 2.00 0.05 0.025 0.30 10,000 30,000
040301 3 Dehydrated Foods 2.00 0.05 0.025 0.30 10,000 30,000
(eggs, Onions,Potatoes,
Vegetables etc.)
040401 4 Diagnostic Equipments 2.00 0.05 0.05 0.30 10,000 30,000
040604 6 Diesel Generators and 2.70 0.05 0.05 0.50 20,000 50,000
Diesel Power Houses upto
5 MW
--- 7 Diesel Generators and 2.70 0.10 0.05 0.50 40,000 1,00,000
Diesel Power Houses
above 5 MW
040801 8 Distilllerie s 2.00 0.05 0.025 0.30 10,000 30,000
040903 9 Dyestuff Manufacturers 2.50 0.05 0.05 0.30 10,000 30,000
041001 10 Dyeing Works 2.00 0.05 0.025 0.30 10,000 30,000
‘E’ - - - - -
- 74 -
050101 1 Edible Oil Factories 2.00 0.05 0.025 0.30 10,000 30,000
050202 2 Effluent Treatment Plants 2.25 0.05 0.05 0.30 10,000 30,000
050302 3 Electric Motors 2.25 0.05 0.025 0.30 10,000 30,000
--- 4 Electrification -
050402 -- Of Roads/Factories/ 2.25 0.05 0.025 0.30 10,000 30,000
Buildings
051410 -- Rural Refer item No.R-8
052410 -- Railways Refer item No.R-1
050701 7 Engineering workshop 2.00 0.05 0.025 0.30 10,000 30,000
050803 8 EOT Cranes 2.50 0.05 0.025 0.30 10,000 30,000
050903 9 Explosives Factories 2.50 0.05 0.05 0.30 20,000 80,000
-- 11 Electronic equipment not To be rated under ‘Computers’
otherwise provided for
‘F’ - - - -
060201 2 Flour Mills 2.00 0.05 0.025 0.30 10,000 30,000
060401 4 Foundries 2.00 0.05 0.05 0.30 10,000 30,000
060502 5 Frozen Sea Food Plants 2.25 0.05 0.025 0.30 10,000 30,000
060603 6 Furnace (Oil/Gas Fired) 2.50 0.05 0.05 0.30 15,000 40,000
‘G’ - - - - -
070110 1 Gas Pipe lines * 4.00 0.15 0.20 0.50 1,00,000 5,00,000
* Subject to endorsement regarding safety measures, damage to crops/forests, storage, warranty
concerning underground cables/pipes, warranty concerning extended maintenance Cover, special
conditions for open trenches during laying of pipelines, ducts and cables and for leak search caused when
laying pipelines.
070203 2 Gas receiving Terminal 2.50 0.05 0.025 0.50 50,000 2,00,000
/metering Terminal
--- 3 Gas Turbines/Combined Cycle Power Plants: ( GT/CCPP)Individual capacity of ‘Gas Turbines’ -
070306 -- Upto 30 MW 2.70 0.10 0.05 0.50 20,000 50,000
070307 -- Above 30 MW and upto 3.00 0.10 0.05 0.50 40,000 1,00,000
50 MW
072308 -- Above 50 MW and upto 3.25 0.10 0.10 0.50 1,00,000 3,00,000
100 MW
073310 --- Above100 MW and upto 3.75 0.10 0.10 0.50 2,00,000 6,00,000
150 MW
-- Above 150 MW and upto 4.00 0.10 0.15 0.50 4,00,000 12,00,000
200MW
Above 200 MW To be referred to HO
Excess / Endorsement–For a Gas Turbine Power Station, the excess prescribed will apply to all items For a Combined Cycle
Power Plant, excess applicable for the Gas Turbine section will be the existing excesses prescribed under ‘Gas Turbine/CCPP’
item. However for Steam Section the excesses applicable will be as per tariff item (Steam Power Plant)For test run definition
of Gas Turbines in CCPP, Please refer Endt. No. 108.
070603 5 Ghee Plants 2.00 0.05 0.025 0.30 10,000 30,000
070701 7 Glass Works 2.00 0.075 0.05 0.30 10,000 30,000
‘H’ - - - - -
080101 1 Hardboard Mfg. Plant 2.00 0.05 0.025 0.30 10,000 30,000
080203 2 Heat Treatment Plant 2.50 0.05 0.05 0.30 15,000 40,000
080301 3 Hospital Equipments Mfg 2.00 0.05 0.05 0.30 10,000 30,000
6 Hydro Power Plants -
- 75 -
080603 -- Upto 50 MW 2.50 0.10 0.03 0.50 10,000 30,000
081603 -- Above 50 MW and upto 2.50 0.10 0.03 0.50 15,000 40,000
100 MW
082603 -- Above 100 MW and upto 2.50 0.10 0.03 0.50 20,000 80,000
150 MW
083603 -- Above 150 MW and upto 2.50 0.10 0.03 0.50 25,000 1,00,000
250 MW
084603 -- Above 250 MW and upto 2.50 0.10 0.03 0.50 40,000 1,50,000
350 MW
080703 7 Hydrocarbon Processing Plant Refer Item F-8(Fertiliser Plants involving Hydrocarbons)
‘I’ - - - -
090102 1 Ice-cream Plants 2.25 0.05 0.025 0.30 10,000 30,000
090201 2 Ice Works 2.00 0.05 0.05 0.30 10,000 30,000
090303 3 Induction Furnace 2.50 0.05 0.05 0.30 15,000 40,000
090401 4 Instrumentation (All 2.00 0.05 0.05 0.30 10,000 30,000
types)
090501 5 Insulator Mfg. works 2.00 0.075 0.05 0.30 10,000 30,000
‘J’- - - -
100201 2 Jute Mills 2.00 0.05 0.025 0.30 10,000 30,000
‘K’ - - - - NO ITEMS
‘L’ - - - -
110101 1 Laundries 2.00 0.05 0.025 0.30 10,000 30,000
110201 2 Leather Goods 2.00 0.05 0.05 0.30 10,000 30,000
Factories
110301 3 Lifts 2.00 0.05 0.025 0.30 10,000 30,000
110401 4 LPG Bottling Plant, LPG 2.50 0.05 0.05 0.30 10,000 30,000
Spheres
110503 5 LPG Plants/Gas Sweet 2.50 0.05 0.05 0.30 15,000 40,000
- ening Plants/ LPG
Bullets, Tank Farm
110603 6 Laying of Water 2.50 0.10 0.05 0.30 15,000 40,000
Pipelines*
* This tariff item is subject to following endorsements on Safety measures, Damage to Crops, Forests,
etc., Storage, Underground Cables & Pipes, open trenches during laying of pipelines. (Endorsement
and Warranties 110, 111, 112, 114 & 115.)
-- 7 LPG Pipeline from 2.50 0.05 0.05 0.30 15,000 40,000
Port to erection site
‘M’ - - - -
120101 1 Machine Tools 2.00 0.05 0.025 0.30 10,000 30,000
120201 2 Marble Works 2.00 0.075 0.05 0.30 10,000 30,000
120303 3 Match Factories 2.50 0.05 0.025 0.30 15,000 40,000
120502 5 Meat Processing Plants 2.25 0.05 0.025 0.30 10,000 30,000
120601 6 Medical Treatment 2.00 0.05 0.05 0.30 10,000 30,000
Equipments
120701 7 Metal Fabrication 2.00 0.05 0.025 0.30 10,000 30,000
120901 9 Milk Powder Plants 2.00 0.05 0.025 0.30 10,000 30,000
121001 10 Mineral Water Works 2.00 0.05 0.025 0.30 10,000 30,000
121103 11 Mini Steel Plants 2.50 0.05 0.05 0.30 10,000 30,000
- 76 -
‘N’ - - - -
‘O’ - - - - - - - -
‘P’ - - - - -
150103 1 Paint Factories 2.50 0.05 0.05 0.30 10,000 30,000
150202 2 Paper Factories 2.25 0.025 0.025 0.30 10,000 30,000
150303 3 Pharmaceuticals 2.50 0.05 0.05 0.30 10,000 30,000
150503 5 Plastic Products 2.50 0.025 0.025 0.30 10,000 30,000
Factories
150601 6 Plywood Factories 2.00 0.05 0.025 0.30 10,000 30,000
150702 7 Polyester Fibre Plant 2.25 0.025 0.025 0.30 10,000 30,000
-- 10 Power Plants-
151004 -- Diesel based Refer Item No. D-7 - ‘Diesel Generators & Diesel Power houses above 5 MW’.For
extended testing period, rate applicable shall be Re. 0.50 %o per month.
152010 -- Gas based Refer item No. G-1 – ‘Gas Turbo Sets’.
153006 -- Steam based Refer item No. S-11 – ‘Steam Power Plant’.
15400 -- Nuclear Refer to the HO
151102 11 Printing Press 2.25 0.025 0.025 0.30 10,000 30,000
‘Q’- - - - NO ITEMS
‘R’ - - - -
160110 1 Railway Electrification 4.00 0.05 0.05 0.30 10,000 30,000
Works *
* Excess for Theft & Burglary claims shall be 25 % of claim amount subject to minimum of Rs.15, 000
160202 2 Rayon Plant 2.25 0.025 0.025 0.30 10,000 30,000
160302 3 Refrigeration Plant/ 2.25 0.05 0.025 0.30 10,000 30,000
Equipments
160401 4 Rice Mills 2.00 0.05 0.025 0.30 10,000 30,000
160603 6 Rolling Mills 2.50 0.025 0.025 0.30 10,000 30,000
160703 7 Rubber Factories 2.50 0.025 0.025 0.30 10,000 30,000
160810 8 Rural Electrification * 4.00 0.05 0.05 0.30 10,000 30,000
* Excess for Theft & Burglary claims shall be 25 % of claim amount subject to minimum of Rs.15, 000.
‘S’ - - - - - -
170101 1 Saw Mill 2.00 0.05 0.025 0.30 10,000 30,000
170201 2 Slaughter Houses 2.00 0.05 0.025 0.30 10,000 30,000
170401 4 Soap Factories 2.00 0.05 0.025 0.30 10,000 30,000
170501 5 Soft Drinks Plant 2.00 0.05 0.025 0.30 10,000 30,000
170601 6 Solar Water Heating 2.25 0.05 0.025 0.30 10,000 30,000
System
170701 7 Solvent Extraction 2.00 0.05 0.025 0.30 10,000 30,000
Plant
170801 8 Spinning Mills 2.00 0.05 0.025 0.30 10,000 30,000
170901 9 Stationery Factories 2.25 0.025 0.025 0.30 10,000 30,000
171003 10 Sponge Iron Plants -
-- Gas based Plants 2.50 0.05 0.05 0.30 Excess for Normal/
Testing Periods as per (a)
& (b) below
- 77 -
For plants and equipments involving hydrocarbon processing and other equipment installed within the
battery limits of such plants Rs.30, 000/Rs. 5,00,000. For plant & equipment not involving hydrocarbon
processing and also installed beyond the battery limits of plants involving hydrocarbon processing Rs.15,
000/Rs. 40,000.Excess for AOG claims, shall be 10 % subject to minimum of Rs. 5,00,000 and maximum
Rs. 5 Crores.
171013 -- Others 2.50 0.05 0.05 0.30 15,000 40,000
171106 11 Steam Power Plant* (Complete with TG Sets, Boiler and all Auxiliaries) Refer Item T-12 –
‘Turbo Generator Sets’
*Note - Subject to Endorsement for Test Run Definition prescribed under ‘Endorsements’ (No.107).
171201 12 Steel Furniture Plant 2.00 0.05 0.025 0.30 10,000 30,000
171301 13 Steel Structure for 2.00 0.05 0.025 0.30 10,000 30,000
Factories & Buildings.
171401 14 Stone Works 2.00 0.075 0.05 0.30 10,000 30,000
-- 16 Sub Station
Equipments -
171601 -- Excluding 2.00 0.05 0.05 0.30 10,000 30,000
Transformers
171601 -- Including Refer item T-9 (a) – ‘Transformers upto 50 MVA’.
Transformers Upto
50 MVA
171603 -- Including Refer item T-9 (b) – ‘Transformers upto 150 MVA’.
Transformers Upto
150 MVA
171701 17 Sugar Factories 2.00 0.05 0.025 0.30 10,000 30,000
171801 18 Surgical Equipments 2.00 0.05 0.025 0.30 10,000 30,000
Manufacturing Plant
171901 19 Switchgear-H.T.& L.T 2.00 0.05 0.05 0.30 10,000 30,000
172002 20 Synthetic Fibre Plant 2.25 0.025 0.025 0.30 10,000 30,000
172203 22 Salt refinery plant 2.50 0.05 0.05 0.30 10,000 30,000
‘T’ - - - -
180103 1 Tanks 2.50 0.05 0.025 0.30 10,000 30,000
180201 2 Tanneries 2.00 0.05 0.05 0.30 10,000 30,000
180303 3 Tea Factory and 2.50 0.05 0.025 0.30 15,000 40,000
Tea Packing/Blending
Factory
180501 5 Textile Mills 2.00 0.05 0.025 0.30 10,000 30,000
Machinery (excluding
turbines, engines &
electrical equipments)
180601 6 Tobacco Factories 2.00 0.05 0.025 0.30 10,000 30,000
-- 9 Transformers -
180902 -- Upto 50 MVA 2.25 0.05 0.025 0.30 15,000 40,000
180903 -- Above 50 mVA Upto 2.50 0.05 0.025 0.30 20,000 80,000
150 mVA
181010 10 Transmission Lines * 4.00 0.05 0.05 0.30 10,000 30,000
* Excess for Theft & Burglary claims shall be 25 % 0f claims amount subject to minimum Rs.15000
181103 11 Turbines in Industries 2.50 0.10 0.05 0.30 10,000 30,000
-- 12 Turbo Generator Sets -
- 78 -
Excess –For Boiler, TG Set and Power Transformer Rs.1,00,000/Rs. 4,00,000 ii) For other
equipments Rs.15,000/Rs. 40,000
‘U’ - - - - - - - - -
‘V’ - - - - - -
200101 1 Vanaspati Plant 2.00 0.05 0.025 0.30 10,000 30,000
200203 2 Varnish Factories 2.50 0.05 0.05 0.30 10,000 30,000
200301 3 Vehicle Assembly 2.00 0.05 0.025 0.30 10,000 30,000
Plants
200401 4 Veneer Factories 2.00 0.05 0.025 0.30 10,000 30,000
‘W’ - - - - -
210101 1 Water Pumping 2.00 0.05 0.05 0.30 10,000 30,000
Station
210201 2 Water Treatment Plant 2.00 0.05 0.05 0.30 10,000 30,000
210301 3 Water Works 2.00 0.05 0.05 0.30 10,000 30,000
210401 4 Weaving Mills 2.00 0.05 0.025 0.30 10,000 30,000
210501 5 Weigh Bridge 2.00 0.05 0.025 0.30 10,000 30,000
-- 6 Wind Turbine Generators -
210606 -- Individual capacity 3.00 0.10 0.05 0.40 20,000 50,000
not exceeding 250
kW
210608 -- Above 250 KW & 3.50 0.10 0.05 0.40 40,000 1,00,000
upto 400 kW
210610 -- Above 400 kW 4.00 0.10 0.05 0.40 80,000 2,00,000
210802 8 Wood Pulp Plants 2.25 0.025 0.025 0.30 10,000 30,000
210901 9 Wood Works 2.00 0.05 0.025 0.30 10,000 30,000
‘X’ - - - - - -
‘Y’ - - - - - - NO ITEMS
‘Z’ - - - - - - NO ITEMS
230103 -- Risks not covered 2.50 0.05 0.025 0.30 10,000 30,000
above
- 79 -
TABLE OF DEDUCTIBLES APPLICABLE TO ‘EAR’ POLICIES
Description Sum Insured/ Compulsory Deductible
Limit
1. Normal Claims / Upto 1500 Crs All Deductibles to be increased to 5 times of
Testing Claims minimum excess mentioned in Tariff.
/ AOG Claims – 1500 to 2500 Crs All Deductibles to be increased to 10 times of
(Risks other than minimum excess mentioned in Tariff.
combined cycle/ Above 2500 Crs All Deductibles to be increased to 15 times of
gas based power minimum excess mentioned in Tariff.
plants) ** For expression pls. see below
2. Combined cycle/ 50 MW upto 200 5% of the Claim amount subject to minimum
gas based power MW Rs 60 lakhs for Testing & Rs 20 lakhs for
plants normal loss
Above 200 MW 5% of the Claim amount subject to minimum
upto 300 MW Rs 100 lakhs for Testing & Rs 50 lakhs for
normal loss
Above 300 MW 5% of the Claim amount subject to minimum
Rs 125 lakhs for Testing & Rs 75 lakhs for
normal loss
3. Fire/Explosion Below 50 Crs FEA Protected (Rule 11A(I)) - 10% of claim
Claims amount subject to minimum of testing period
excess with an upper limit of Rs. 2 Crores.
Below 50 Crs Unprotected - 10% of claim amount subject
to minimum of testing period excess with an
upper limit of Rs. 2 Crores.
Above 50 Crs FEA Protected (Rule 11A(I)) - 10% of claim
amount subject to minimum of testing period
excess, with upper limit of Rs. 2 Crores
FEA Protected (Rule 11A(I) & A(II)) - 5% of
claim amount subject to minimum of testing
period excess, with upper limit of Rs. 2 Crores
Above 50 Crs Unprotected - 20% of claim amount subject
to minimum of testing period excess with an
upper limit of Rs. 3 Crores.
4. Theft/Burglary 25% of the claim amount subject to a
Claims minimum of Rs. 15,000/-
(1. Railway
Electrification *To be increased as stated in Point No. 1.
2. Transmission
3. Rural
Electrification)
- 80 -
5. Petrochemical For any/ all Sum a) 30,000/5,00,000 for Plants and
Risks/ Petroleum Insured Equipments involving Hydrocarbon
refineries/ Fertilizer Processing and other equipments
Plants installed within the battery limits of such
plants.
b) 30,000/1,00,000 for Plants and
Equipments not involving Hydrocarbon
processing and also installed beyond
the battery limits of plants involving
Hydrocarbon processing.
c) Excess applicable for AOG claims will
be 10 % of claim amount subject to
minimum of Rs.5,00,000/- and upper
limit of Rs. 5 Crores.
*To be increased as stated in Point No.
1.
6. Catalyst cover For selected Sum 5% of value of the Catalyst subject to a
for Fertilizer & Insured minimum of Rs. 2,50,000/- over & above
Chemical Plants the excess as applicable under the policy, as
per SI limit.
7. Storage Risks For selected Sum - Rs. 5,000/- per claim during storage
at the Fabricator’s Insured - 10 % of claim amt. subject to min of testing
Premises/Workshop period excess per AOG/Fire/Explosion claim
*Refer (HO cir. Ref. CMD sect master circular no. 009/2011-12, dtd 19/5/2011)
** Normal period claims - 5 % of claim amount subject to minimum of Rs……….. eec
Testing period claims - 5 % of claim amount subject to minimum of Rs……….. eec
AOG perils claims - 10 % of claim amount subject to minimum of Rs……….. eec
- 81 -
Additional Covers Available For CAR/EAR Policies With S.I. Upto Rs 50 Crores
Rate (%o) – Below 50crs.
S.I
Additional Covers Limits
Erstwhile Guide/
Tariff Rate System Rate
1. Owners’ surrounding Specified Sum Insured for 50% of CAR 50% of CAR
property Surrounding property Policy Rate Policy Rate
N.B: If the cover is required
during the maintenance
period also, the extras
applicable for each group
shall be loaded by 10%
2. Debris Removal limit per Specified Limit opted CAR Policy CAR Policy
occurrence Rate Rate
3. Breakage of Glass Total Sum Insured 25% of CAR 25% of CAR
policy rate policy rate
4. Cover for offsite storage/ 0.3 %o per 0.25 %o per
fabrication month or month or
part thereof part thereof
5. T.P.L. Cover i)For policies with SI < Rs CAR Policy CAR Policy
With or without Cross 10 crores Rate Rate
Liability extension within Limit upto Rs 1 crore 50% loading 50% loading
geographical limits of India ii) For policies with SI > Rs if Cross if Cross
10 crores Liability Liability
Limit –10% of CAR policy Taken Taken
SI subject to maximum of
Rs.10 cr.
TPL Cover during
maintenance period (Not to In excess of above limits 25% loading 25% loading
be granted during Extended Separate cover to be issued on above on above
Maintenance Cover) from Misc. Dept. rates rates
6. Escalation costs Specified %age not 30% of CAR 30% of CAR
exceeding 30% of CAR Sum Policy Rate Policy Rate
Insured
7. Express Freight, Holiday & Specified Limit opted Basic CAR Basic CAR
Overtime rates of the wages Rate Rate
(Excluding (Excluding
extra for EQ) extra for EQ)
8. Air Freight Specified Limit opted 5% of Limit 4% of Limit
Opted Opted
- 82 -
9. 1. Maintenance Visit Cover (for every 12 months or 0.50%o 0.30%
part thereof)
For 6 months 0.25%o 0.15%o
2. Extended
maintenance cover (for every 12 months or 1.0%o 0.60%o
part thereof)
For 6 months 0.5%o 0.30%o
* Note: not to be given
for period more than 24
months
10. Additional Custom duty Specified Limit opted 2% of Limit 1.5% of Limit
(On first loss basis) Opted Opted
11. Destruction of properties To be Approved by Regional - -
meant for repair/ in Charge only on very
replacement of insured selective basis after
property carrying due diligence
12. Project Amendments --DO--
- 83 -
Additional Covers Available For CAR/EAR Policies With S.I. Above Rs 50 Crores
Additional Covers Limits Rate (%o)
Erstwhile Guide/
Tariff Rate System Rate
1. Owners’ surrounding Upto 10% of policy SI 0.05 0.05
property without FLEXA risks:---
N.B: If the cover is required Upto 10% of policy SI with 0.10 0.10
during the maintenance FLEXA risks
period also, the extras
applicable for each group Above 10% of Policy SI but 0.15 0.15
shall be loaded by 10% without FLEXA Risks
Above 10% of policy SI but 0.20 0.20
with FLEXA risks
2. 50/50 clause Nil Nil
3. 72 hrs. clause Nil Nil
4. Free automatic Upto 10% of SI Nil Nil
reinstatement clause
Above 10% and upto 50% 0.05 0.05
of SI
0.10 0.10
Above 50% and upto full SI
5. Loss minimization expenses Nil Nil
6. Debris Removal limit per Upto Rs.50 lacs Nil Nil
occurrence
Above 50 lacs and upto 0.05 0.05
Rs.10 Crs.
Above Rs.10 Crores and 0.10 0.10

upto Rs.25 Crs.
Above Rs.25 Crs. 0.15 0.15

7. Professional Fees Nil Nil
8. Cover for offsite storage/ 0.05 0.05
fabrication
9. T.P.L. Cover i) AOA limit upto Rs.10 cr. 0.05 0.05
With or without Cross
Liability extension within ii) AOA limit above Rs.10 cr. 0.10 0.10
geographical limits of India but upto Rs.25 Cr.
Separate
TPL Cover during iii) Above 25 Crs…. cover to be
Maintenance period issued
(Not to be granted during 25% loading on the above from Misc.
Extended Maintenance rates Dept.
Cover)
- 84 -
10. Waiver of contribution N.B.: This should be
clause restricted between Principal
and the contractor and Nil Nil
should not be waived for
others.
11. Escalation costs Upto 10% of policy SI… 0.05 0.05
Above 10% of policy SI

and upto 30% 0.10 0.10
12. Waiver of Subrogation 0.05 0.05
Clause
13. Expediting cost including Air Upto 30% of net claim
Freight and Express Freight amount Nil Nil
Beyond 30% 0.05 0.04

14. Extended for every 12 months or part 0.05 0.04
maintenance cover thereof
(Not to be Given for more
than 24 months)
15. Continuity of cover during (for every month or part 0.20 0.20
operational phase for Unit/ thereof)
Plant tested but awaiting
integral testing (along with
other units/Plants)
16. **Design Defect Cover Excess
DE1 NA NA
DE2 % of Basic CAR Rate 5 times AOG excess 5%
DE3 --DO-- 10%
17. Amendment in Fire fighting
endorsement wording Nil Nil
18. Additional Custom duty Upto Rs.10Cr…. Nil Nil
Rs.10 Cr. To Rs.30 Cr. 0.05 0.04
Beyond Rs.30 Cr. 0.15 0.15

19. Willful negligence Not to be covered at any -- --
cost
20. Valuable Documents Upto Rs 50 lakhs 0.05 0.05
21. Work stoppage cover Not to be given
22. Insured Contract Works - 0.20 %o per
taken over or put into month
Service(for standalone
operational units awaiting
handover)
- 85 -
23. Multiple insured Clause To be Approved by Regional - Nil
in Charge only on very
selective basis after carrying
due diligence
24. Multi Insured with Non NA NA Refer to HO
Vitiation Clause
25. Additional Insured Clause --DO-- - Nil
26. Cost of Re-writing records No further discount - Policy rate on

clause Limit opted
27. Pair & Set Clause/ No further discount - 20% of policy
Consequential Reduction in rate on limit
Value opted
28. Destruction of properties To be Approved by Regional - -
meant for repair/ in Charge only on very
replacement of insured selective basis after carrying
property due diligence
29. Project Amendments --DO-- - Applicable Rate
as per Risk.
Additional Add-on covers can be given with special approval on merit.
Terrorism rating for CAR/EAR poilicies

(Ref.:TP00L/CIR/2/2016-17 dtd.27/3/2017)
• Terrorism rate x No. of months.
• Terrorism rate for policies not exceeding 12 months is not pro-rata of annual rate, it is
- up to 6 months - 50% of annual rate.
- exceeding 6 months but less than 12 months - full annual rate.
- in excess of 12 months - pro-rata.
- 86 -
ADVANCE LOSS OF PROFIT(ALOP) / DELAY IN STARTUP(DSU) INSURANCE
The purpose of Advance Loss of Profit (ALOP) Insurance Policy is to indemnify the Principal
or the Owner of the Project for the financial loss sustained due to a DELAY IN COMPLETION
of the insured works caused by the occurrence of an insured peril.
This delay must be caused by direct physical loss or damage covered under Storage-Cum-
Erection / Contractors All Risk Insurance Policy.
Delay in Start Up (DSU) - due to accidents covered under Marine perils.

• Accident at project site
• Accident in transit resulting in delay of resupply which causes delay of the project.
We may provide cover for both the options mentioned above separately, subject to HO
acceptance of the proposal.
IMPORTANT UNDERWRITING FACTORS

• The Insured in ALOP & DSU is the PRINCIPAL ONLY
• ConcurrenO material damage (MD ) insurance required
• Same insurer(s) for ALOP and MD
• Insurance period identical to MD erection period
• Indemnity period to commence from expected date of commissioning.
• Sum Insured is the Anticipated Gross Profit (after commissioning of the Project)
EXCLUSIONS
Delay in Erection work or Testing due to :
– Loss / Damage due to Inventory Losses
– Restrictions imposed by Public Authority
– Non Availability of funds for repairs / replacement to damaged items
– Delay in shipments of supplies
– Normal Project schedule slippage
– Cancellation of licence or Govt. restrictions
– Stoppage of work/Strike interference.
ALOP - Material Damage Provision

• Claims in this policy are paid only when material damage losses are admissible under
project insurance policies like SCE/MCE or CAR.
• There can be only one claim under ALOP.
- 87 -
MACHINERY LOSS OF PROFIT POLICY (MLOP)
Salient Features
• Covers loss of gross profits following accidental breakdown of Machinery. This may
so happen that after breakdownof critical Machine, the entire manufacturing process
comes to a halt.
• The cost of the actual damaged part may not be high but the production may stop
resulting in loss of profits.
• Material damage provision applies
• Rating depends on relative importance of the critical machinery-Imported/Indigenous,
availability of spare parts, stand-by machinery etc. and Indemnity period chosen by the
Insured.
Exclusions
• Time Excess
• Intangibile losses like goodwill,loss of market etc.
• Alterations/ Improvements made while repairing the machine.
• Wilful or gross negligence of the insured of his representatives.
- 88 -
MARINE CARGO INSURANCE
Marine Insurance occupies an important position in commerce. It enables the parties
engaged in overseas trade to venture their capital more freely since it affords protection
against fortuitous losses of goods in transit. The advances made by the Bank is secured on
the goods if their client obtains a marine policy.
Who are entitled to Marine Insurance?

B Individual person(s).
C Bank or any financial institution.
D Exporters.
E Importers.
Who are not entitled to Marine Insurance?

5. Carriers/Transporters.
6. Clearing and Forwarding Agents.
7. Stevedores.
8. Freight forwarders.
9. Commission Agent.
Marine policy is an “Agreed Value” policy. It is difficult to determine at which stage of the
transit the loss may occur and what will be the value of cargo at the time of the loss. The sum
insured shall be based on cost, insurance and freight, plus a mark-up of 10%. The mark-up
of 10% covers buyer’s various incidental charges after landing at port, inland freight and
small percentage of buyer’s profit.
The assured must be interested in the subject matter insured at the time of the loss though
he need not be interested when the insurance is effected. A marine cargo policy is freely
assignable either before or after loss provided the assignee has acquired insurable interest.
Subrogation means the transfer of the insured’s rights & remedies in respect of the loss
to the insurers who then become entitled to place themselves in position of the insured &
recoup the loss from the parties responsible for the loss. The insured has to necessarily
protect their rights of recovery from the carriers which is in turn, transferred to the insurers
on settlement of the claim.
Types Of Sales Contracts: The contract negotiated between a buyer and seller is subject to
certain Terms of Sale, which will determine the rights and obligations of both parties. The
International Chamber of Commerce has devised certain rules for appropriate interpretations
of the common trade terms, which are known as “INCOTERMS” The new Incoterms 2010
contain 11 terms to ascertain from which point the insurance will be required vis-à -vis
insurable interest i.e who should take the policy and when.
The Following Terms Are Commonly Used:

EX –Works The goods are available at the seller’s premises to the buyer and at this point
the risk transfers to the buyer. It is the buyer’s responsibility for all aspects of the transit
including insurance
FOB/FCA/FAS –
• FOB- Free on Board- The Seller fulfills his obligation to deliver and transfer of risk
- 89 -
occurs when the goods are safely placed on board the overseas vessel.
• FCA- “Free Carrier” means that the seller fulfils his obligation to deliver when he has
handed over the goods, cleared for export, into the charge of the carrier named by the
buyer at the named place or point.
• FAS- Free alongside ship - the Seller must deliver the goods alongside the vessel at
loading berth named by the Buyer.
The Buyer has to arrange for insurance for loading of the cargo on to the overseas
vessel, subsequent voyage and transit up to the destination.
CFR (Cost and Freight)-The Seller bears the risk from the time of movement of goods from
his ware house until the goods are on board the vessel in the port of shipment. The Seller
bears ocean freight charges up to the port of destination.
CIF (Cost, Insurance and Freight)-Seller has complete responsibility requiring him to
• provide insurance, for the entire transit, usually from warehouse to warehouse
• contract for the delivery of goods on board the vessel
• pay freight costs to destination port
• Complete custom formalities for export.
While accepting the risk the underwriters should verify the sale and/or purchase contract of
the client with their buyers and/ or suppliers to understand from which point the insurance
will be required vis-à-vis insurable interest i.e. who should take the policy and when.
Often-Used Terms In Marine: FOB /CFR or C&F /CIF

Point of Sale- On Board vessel
The risk of loss or damage to the goods passes from seller to buyer when the goods are on
board the vessel, and the buyer bears all costs/risk from that moment onwards.
CIF:Cost, Insurance and
FOB: Free on Board CFR : Cost and Freight
Freight
Seller • Bears the risk from the • Bears the risk from • Bears the risk from
time of movement of the time of movement the time of movement
goods from his warehouse of goods from his of goods from his
till the goods are placed warehouse till the goods warehouse till the
on board the vessel at are placed on board the goods are placed on
load port. vessel at load port. board the vessel at
• Completes all customs • Completes all customs load port.
formalities for export at formalities for export at • Completes all customs
Load Port. Load Port. formalities for export at
• Contracts at his own Load Port.
expense for loading the • Contracts at his own
goods on the vessel and expense for loading the
for shipment to ports of goods on the vessel
destination - Pays the and for shipment to
freight for the ocean ports of destination -
voyage Pays the freight for the
ocean voyage
• Arranges for insurance
during ocean transit
and after unloading till
final inland destination.
- 90 -
CIF:Cost, Insurance and
FOB: Free on Board CFR : Cost and Freight
Freight
Buyer • Contracts at his own • Arranges for insurance • Carries all risks after
expense for loading the during ocean transit and the goods are placed
goods on the vessel and after unloading till final on board the vessel,
for shipment to ports of inland destination. • Completes all customs
destination - Pays the • Carries all risks after formalities for import
freight for the ocean the goods are placed on of the goods at
voyage board the vessel, destination port
• Arranges for insurance • Completes all customs • Pays the costs for
during ocean transit and formalities for import of unloading the goods
after unloading till final the goods at destination
inland destination. port
• Carries all risks after the • Pays the costs for
goods are placed on board unloading the goods
the vessel,
• Completes all customs
formalities for import of
the goods at destination
port
• Pays the costs for
unloading the goods
Risk Exposure During Transit

An overview of risks
During the course of transit, the cargo may be exposed to various risks despite adopting
adequate precautions in packing, transportation, loading/unloading, selection of Carriers etc.
The risks can be classified into two categories, depending on their causes:
• Standard risks of transport
• Exceptional risks of transport (War/SRCC or Terrorism).
When these risks occur, they result in:

• Particular Average- Loss/damage to the cargo due to an insured peril
• General average- Voluntary sacrifice made to protect the marine adventure; shared by
all related parties- hull, cargo, bunkers and freight
RISKS COVERED UNDER ICC-C (Only Port to Port cover)

Institute Cargo Clause (C) covers loss or damage to the subject matter insured reasonably
attributable to
• Fire or Explosion.
• Stranding, Grounding, Sinking or Capsizing.
• Overturning or Derailment.
• Collision or contact of vessel craft or conveyance with any external object other than
water
• Discharge of cargo at a port of distress
• General Average.
• Jettison
Institute Cargo Clause (B) covers the following perils in addition to the perils covered under
- 91 -
Clause (C).
• Earthquake, volcanic eruption or lightning.
• Water damage by entry of sea/river water
• Washing overboard.
• total loss of package dropped during loading and unloading.
(Both B and C Clause may be extended to cover additional risks like Theft, pilferage,
non-delivery, breakage etc.against payment of an additional premium).
Institute Cargo Clause –A

The Institute Cargo Clause-A covers “All Risks” subject to the following general exclusions,
which are also common in other two clauses i.e. ICC B and C
• Wilful misconduct of the Assured.
• Ordinary leakage, ordinary loss in weight or volume or ordinary wear and tear.
• Inadequate sufficiency or unsuitability of packing or preparation of packing of the
subject matter insured.
• Inherent vice or nature of the subject matter insured.
• Delay
• Delay
• Insolvency or financial default of Carriers.
• Un-seaworthiness and Unfitness exclusion.
• War and Strikes, Riot and Civil Commotions
A COMPARISON OF ICC (B) AND ICC (C)

Clause
ICC B ICC C
No.
1.1 Loss of or damage to the subject –matter insured reasonably
attributable to
11.1 Fire , explosion Covered
11.2 Vessel or craft being stranded, grounded , sunk or capsized Covered
11.3 Overturning or derailment of land conveyances Covered
11.4 Collision or contact of vessel craft or conveyance with any Covered
external object other than water
11.5 Discharge of cargo at a port of distress Covered
11.6 Earthquake, volcanic eruption or lighting Not Covered
1.2 Loss of damages to the subject-matter insured caused by
1.2.1 General Average Covered
1.2.2 Jettison or washing overboard Only jettison
Covered
1.2.3 Entry of sea, lake, river water into vessel craft hold, conveyance, Not Covered
container or place of storage
1.3 Total loss of any package lost overboard while loading onto or Not Covered
unloading from vessel or craft
ICC (A) IS AN ALL RISK COVER SUBJECT TO EXCLUSIONS

Besides the above standard clauses, The Institute of London Underwriters have devised,
in consultation with different Trade Associations, clauses for special type of commodities
which are as under:
• Institute Bulk Oil Clause
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• Institute Frozen Meat Clauses
• FOSFA (Federation of Oils, Seeds and Fats Association)
• Institute Frozen Food Clause
• Institute Commodity Trade Clauses
• Institute Jute Clause
• Institute Coal Clause
• Institute Natural Rubber Clause
• Institute Timber Trade Federation Clause
Inland Transit Clause

Similar to ICC A, B and C, there are three sets of pure Inland Transit Clauses namely (i) Inland
Transit (Rail or Road) Clause- A (All Risks) (ii) Inland Transit (Rail or Road) Clause –B
(Basic Cover) (iii) ITC (C) - Cover Fire and Lightning only.
We also have Inland Transit (Inland Vessels) clause for covering transit of cargo through
inland waters.
ITC (Inland Transit Clause) - A covers all risks
ITC - B covers named perils i.e Fire, lightning, breakage of bridges, collision with or by
the carrying vehicle, overturning of the carrying vehicle and derailment or accidents of like
nature to the carrying railway wagon/vehicle.
ITC - C covers Fire and Lightning only
Inland Transit (Inland Vessel) Clause covers named perils i.e fire or explosion, vessel or craft
being stranded grounded sunk or capsized
Extension of Storage Cover

If the goods are kept in the Carrier’s godown, C&F agent’s go-down and Bonded warehouse
at the final destination due to the reasons beyond control of the insured, subject to prompt
notice given to the underwriters, the cover may be extended for 8 weeks only in addition to
7 days. However, while granting such cover, necessary approval has to be obtained from the
Competent Authority.
Cargo dispatched by Private Carriers

The liability of the company shall be limited to 75% of the assessed amount of loss where
the consignment note is issued limiting the liability of the Carriers in any respect by special
contract duly signed by the consignor, consignee or by the duly authorized representative,
agents or where the consignment note is issued by a private carrier (other than the vehicle
belonging to the owner of goods) or freight broker.
This warranty would not apply where loss or damage has occurred whilst the goods are not
in the custody of the carriers.
Types Of Marine Policies

1. Specific Policy
The specific policy covers a particular consignment for a specific voyage/transit against an
individual proposal submitted by the client.
- 93 -
The premium under a specific policy should be paid prior to commencement of the risk.
The complete details like commodity, packing, vessels particulars, B/ L or RR or AWB

number and date, sum insured, details of voyage, terms of cover should be declared while
effecting the Insurance.
2. Open Policy
Open (Floating) Policy is effected for an amount sufficiently large to cover the total
value of shipments/ dispatches to be made over a specified period usually 12 months.
Subject to its terms and conditions, such policy covers all shipments/ dispatches
made by the Insured.
As each shipment/ dispatch takes place the shipping particulars are furnished to the
insurers and the value declared for the cargo is deducted from the total sum insured
under the policy. Here again, the insured is bound to declare all shipments/ dispatches
coming within the scope of this policy.
When the total of the amounts of the various declarations reaches or exhausts the
amount for which the Policy was originally issued, the Policy may be reinstated for
remaining period. Open policy is a stamped document.
Open policies have a per sending limit and a per location limit.
3. Open Cover
Open cover is a contract effected for a period of time, usually 12 months, for exports/
imports whereby the insurer agrees to accept the insurance of all shipments/
dispatches made by the Insured during that period on certain pre defined terms and
conditions.
Open cover is an unstamped document but the certificate issued against each and
every shipment, should be duly stamped.
4. Special Declaration Policy

This is a special type of open policy issued for 12 months covering inland transit only.
The minimum sum insured under the policy is Rs. 2 Crores and the total value of the
goods in transit is required to be declared at least once in a quarter in the form of a
certified statement. Final premium is adjusted (downward only) on the basis of actual
annual T.O. of goods covered. The subject policy allows mid term increase of S.I. twice
only during a year.
Minimum premium for the policy is Rs. 5000/-
5. Annual Policy
The Annual Policy is issued only in respect of goods belonging to the assured or held
in trust by him not under any sale or purchase while in transit by road or rail from
specified depots/ processing centre to other depots / processing centre. The depots
must be owned or hired by the assured but the processing units may not be owned or
hired by the insured.

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The acceptance of the proposal is subject to the following information:
1) The particulars of transit.
2) The total distance involved from one depot to another depot and/ or processing
centre.
3) Description of the goods.
4) Estimated annual turnover.
5) Single carrying limit at any one time.
The minimum premium for the policy is Rs. 5000/-.

The issuance of the subject policy warrants approval of H.O.
6. Multi Transit Policy

The Marine policy generally covers goods during ordinary course of transit from
warehouse to warehouse. However, if the consignment comes under the control of
the assured at any intermediate point for allocation, redistribution, processing etc. the
normal transit policy comes to an end and further transits treated as fresh transit.
Risk during storage at such intermediate points is considered as a separate non-marine

risk. To effect a continuous cover whilst in transit or in storage or during processing
of the goods, multi transit policy and intermediate storage cover may be granted on
restricted terms and limited period (max 90 days) subject to HO approval.
7.
Seller’s Contingency Policy
Sometimes the Exporters export their goods under FOB or C&F terms and not under
irrevocable letter of credit. The responsibility of the exporter for arranging the
insurance ceases as soon as the consignment is safely placed on board the vessel
but ownership of the consignment does not change until the buyer accepts the goods
and releases the clearance documents. In some cases the exporters do not get sale
proceeds from the buyer due to the following reasons:
i) The importer may not be interested in those goods.
ii) The goods are not as per sample or specification.
iii) The goods have reached at the port in damaged condition &/or short
iv) The importer’s financial condition is disturbed.
Sellers’ Contingency Insurance Policy covers only the event under item number (iii)
above. Items (i) (ii) and (iv) are not insurable risks.
To protect the interest of the sellers against physical loss or damage to the goods,
Seller’s contingency insurance policy is issued to the exporter to protect their interest.
The salient features of the policy are as under:
a. This insurance can be issued to protect the interest of the seller.
b. The policy is not assignable.
c. The policy cannot be extended beyond the port of discharge.
d. The sale contract cannot be altered subsequent to the operation of the insured
peril.
e. The policy covers only physical loss or damage to the goods by insured perils.
f. The claim shall be settled in Indian Rupees.
8. Duty Policy
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The Duty policy is taken out by an Importer who imports the cargo under a valid import
license. The policies are issued on actual assessed duty. The policy shall be issued
on provisional duty and the same value adjusted on the actual duty duly assessed by
the Customs after arrival of the goods.
The policy shall be one of the pure indemnities. Duty cover cannot be granted after
arrival of the vessel unless it is covered under open policy or open cover The rate of
premium under Duty policy shall be 75% of the cargo rate including all extras.
9.
Increased Value Insurances
This insurance is taken by an importer. This insurance is not for an agreed amount,
but SI shall be an amount not exceeding the actual difference between market value at
destination on the date of arrival of goods in India and the total of CIF value plus duty,
subject to establishment of the higher market value or controlled price as notified
by appropriate statutory authority.
• Existence of Insurance of CIF value of cargo is a pre-requisite for the issuance of
this policy.
• The policy has a compulsory excess of 25%.
• This insurance is generally not granted for an amount more than 100% of the
CIF value of the cargo.
• The operating office must get fully convinced of the market value stated.
• The rate of premium for increased value insurance is 100% of CIF rates.
10. Special Storage Risk Insurance This cover can be granted only in conjunction with
an Open Policy or a Special Declaration Policy covering goods in transit by rail/road,
during storage at railway yard or carrier’s premises on termination of cover under the
cargo policy.
• Policy can be issued to consignor or supplier of goods
• The interest in the policy is not transferrable.
• Policy covers risks as covered under the Marine Policy taken.
• During storage only RSMD cover as per terms of All India Fire Tariff (covered on
charging additional premium) and not SRCC Cover.
• Sum insured should not be less than 10% of SI under Special Declaration Policy/
Open Policy or Rs.20 lakhs whichever is higher.
• Any one location limit is not to exceed 10% of SI under SSR or Rs. 1 Crore
whichever is less.
• Full premium is payable in advance.
11. Tea Crop Policy

The Insurance under Tea Crop policy commences from the time the green leaf is
plucked from the estate of the insured and while being processed at the factory and
subsequent transit by different modes of conveyance and shall terminate as soon as
the consignment is delivered at the auction centre and/or any other place named in the
policy.
The policy is extended to cover additional storage risk at the different auction centres in
addition to permissible 30 days by payment of an additional premium at the inception
of cover. The policy may be issued either on agreed value or provisional value basis.
- 96 -
12. Sales Turn Over Policy (STOP)
Sales Turnover Policy is issued on actual Sales Turn Over of the client to cover their
raw materials, semi-finished and finished products. The policy shall be issued only to
Registered/ Listed companies and Partnership firms.
Underwriting Guidelines:-
• The sum insured under the policy shall be determined on the basis of Insured’s
estimate for the current year (including export & domestic sales) or actual turnover
of the client in the preceeding year, or average sales turnover of previous three years,
excluding the expiring year whichever is higher.
• The risk under the policy will commence as per sale/purchase contract of the client
with buyer/supplier. Contigency interests shall not be covered.
• Full premium on SI as arrived under item no.1 above shall be collected in advance
with facility of two times increase during the currency of the policy subject to statutory
premium payment regulations.
• No installment facility shall be allowed.
• Quarterly financial results to be submitted within 45 days of each quarter
• Claims will be settled on the basis of cost/expenses of the affected materials just
before the loss, as certified by surveryors and/or evidenced through the documents.
• If the premium is paid on the SI arrived at plus 10% mark- up then basis of valuation
for claim settlement may be considered at 10% additional.
• Necessary approval should be obtained from Head office for issuing such policy if per
bottom limit of the policy exceeds Rs 5 Crores in respect of annual policies issued on
turnover basis.
Coverages:
a) Inland transit/import of raw materials,
b) Inland transit/export of finished goods
c) Inland transit of semi finished/finished materials within India
d) Stock transfer within India
e) Custom duty
f) Storage extension of cover for 60 days 1) ICC clause no. 8 / ITC clause no. 5
g) Duration of cover for ocean/ air transit shall be as per Clause 8 (60 days) and Clause
5 (30 days) of the respective institute cargo clause, but such duration of cover may be
further extended by another 120/60 days (180/90 days in all) under ordinary course of
transit. Coverage is on All Risk basis other than Project cargo. For FOB extensions, no
additional storage cover other than 14 days provided under the FOB extension clause
shall be available.
h) Redistribution and processing
The policy shall not cover Plant and machinery, Capital goods, Containers , spares,
Both new/second hand machinery unless related to the trade of the client, coal, pulses/
Grains, timber logs,Cement , bullion/Jewellery, Personnel effects/Household goods.
i) Transits/shipments between two countries outside India shall not be covered
Undesired Risks for Marine Insurance

1. Sugar 11.Silica Bricks, Fire Bricks
2.Cement in Open Wagons 12.Refractories
3.Bulk Cargo of hazardous nature 13.AC sheets
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4.Fertilizers 14.Graphite electrodes
5.Salt 15.Glass lined graphite and carbate
vessels
6.Frozen frog legs, shrimps, prawns and 16.Cashew
other sea foods
7.Eggs 17.Chickpeas, Lentils, other pulses, soya
beans
8.Cast Iron Goods 18.Timber Logs
9.Glass Articles
10Sanitary Ware, Earthen Ware, Crockery,
Chinaware
The above commodities should be insured on restricted basis preferably with an

appropriate excess. However, if because of wider considerations and importance of
clients, wider cover is deemed to be necessary, reference may be made to HO with
recommendations and full particulars with details of the client’s non-marine portfolios.
Some Underwriting Considerations

Per Bottom Limit – is the highest value per sending (Per L/ R, B/L, AWB, etc).
Per Location Limit – is the accumulation of Insured’s Cargo under different B/L, AWB, L/R,
etc getting accumulated in an intermediary point like Ports.
These limits should conform to underwriting limits and guidelines.
Valuation Clause – Depending on Insured’s requirement, the Basis of Valuation is to be

agreed upon – choices: Cost only (Inv value) / C&I / CIF / CIF + x% for incidental. Where a
loss happens before receipt of declaration - within the time allowed under memorandum –
this basis of valuation will apply. Where a declaration is received and accepted, the declared
value will be the basis for the claim settlement.
The sum insured under the Open Policy will diminish by the amount of each declaration and
can be increased by issuing an endorsement on collection of additional premium. At the end
of the Policy Period, the undeclared balance of sum insured will be refunded to the insured,
or carried over to the renewal policy.
In marine Insurance the proposal in a Standard form may not be necessary but the operating
office should obtain the following information before finalizing the coverage:
• Name of shipper and client
• Nature, Description of the goods to be insured.
• Basis of valuation (Sum insured = CIF + select % towards incidentals)
• Method of packing, identification
• Particulars of Transporter/Vessel, Shipping Company and date of dispatch.
• Transit particulars like Number and date of B/L, AWB, C/N, R/R, etc
• Terms of cover
• Past Claim/loss experience
• Pre-despatch survey: Pre-despatch survey (Fee borne by proposer) is necessary in
some proposals like:
- Transit of used/ second-hand Machinery- cover on market value basis only
- For covering only land transit from the Port of Discharge in cases of imports.
- 98 -
Exclusions: Cover for the following shall not be granted under cargo policies:
• Cash in transit as accompanied baggage
• Carriers and other liabilities
• Confiscation and rejection risks
• Fish meal, fish farms, fish catch, livestock, Bloodstock, Jewellery block
• Isolated storage risks
• General Average and salvage under sellers contingency/ Buyers contingency
• Containers unless covered under ITC (B) clauses
• Bankers’ Blanket Bond Policies
• War on land, Isolated War risks without the relevant ordinary marine risk
• Quality and weight guarantee
• Retroactive coverage of known or reported losses
•
Sanction Countries Clause For Marine Insurance :
All the policies should be issued subject to “ Sanction Limitation & inclusion clause “. There
are sanctions on five countries presently namely Iran, Cuba, Sudan, North Korea & Syria.
Stamp Duty
Sea voyages and country craft( including inland transit in conjunction with sea voyages)- 5
paise for SI of every 1500 or part thereof
Transit by rail/road air- Rs 1
Rating :
1) Based on the perception of risks from the subject matter of insurance the operating
office has to charge the appropriate rate.
2) In case of Overseas Shipments (Import/Export) apart from the Marine Rate, the rating
involves the following ‘USUAL EXTRAS’ which are dependent on the individual vessel
involved :
• Classification of Vessels’ Extra
• Overage Extra
• Under Tonnage Extra
• Flag of convenience
(Schedule of Premium Guide Rates for BASIC COVER)
Sl Statistical Commodity Basic Rate %
1 Cotton, Hemp, Kapok, Kappas, Jute &
other Staple Fiber, Vegetable Fibre, Coir &
2 1 a) In F.P.bales in closed vehicles/closed wagons 0.15
2 b) In F.P. bales in open vehicles/open wagons 2.00
3 c) Other than F.P. bales in closed vehicles / 0.50
open wagons
4 d) Other than F.P. bales in open vehicles / 5.00
open wagons
All kinds of piece-goods, Hosiery, Readymade
Garments, Yarn, Wool, wooltops, Hessian,
Gunnies and Coir
- 99 -
5 a) in F.P. bales 0.12
6 b) In wooden cases 0.12
7 c) In cardboard cartons 0.12
8 d) In gunny bags 0.12
3 9 All types of Machinery and Machine tools 0.15
(other than electric/electronic machinery
and precision instruments) including spares & parts
4 10 Precision Instruments of all types including Electronic 0.20
and Electric Machines and Equipments, Microwave
Equipments, Transmitters, Computers, Telephones
and Scientific and
11 Air Conditioners, Coolers, Fans, Refrigerators, Radios, 0.20

Transistors, Record Players, Television
12 All kinds of Glass Bulbs, Lamp Shades, Tubes, T.V. 0.20

tubes and screen, X-Ray and Electronic Tubes ,
Porcelain Insulators and other Porcelain Electrical
Items
5 013 All Metal Bars, tubes, Sheets, Ingots, 0.10
014 Girders, Plates, Angles and other Structural 0.10
materials, Timber logs.
015 All Metal wares including Utensils 0.10
016 Cast Iron goods of all kinds not forming part of any 0.10
Machinery
017 otherwise mentioned in this Schedule. Eggs are 0.15
Fragile items.
6 018 Sanitary ware, Earthenware, Glassware, Crockery, 0.25
Chinaware
7 019 All liquid cargo and chemicals in other forms . . 0.20
such as powder, granules etc.
019 A a) Non-Hazardous in tins. i) Non-hazardous in 2nd 0.20
hand tins
020 b) Non-hazardous in new drums 0.20
021 c) Non-hazardous in 2nd hand drums 0.20
022 d) Non-hazardous in tankers 0.20
022 A e) Non-hazardous in Poly-packs 0.20
023 f) Milk in tankers 0.20
024 g)Hazardous in glass carboys 0.30
025 h)Hazardous in other receptacles including bagged 0.30

cargo
8 026 i) Hazardous in tankers Bagged Cargo 0 30
027 a)In new double gunny bags 0.20
027 A b) High density polythene bags N.B. Rates are to be 0.20
fixed as per outer covering in which LDPE bags are
wrapped
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028 c) In new single gunny bags (Daal in new single 0.20
gunny bags)
28A d) In 2nd hand double gunny bags 0.20
28B e) In 2nd hand single gunny bags 0.20
29 f) In paper bags (5ply and over) 0.20
30 g) In paper bags (less than 5ply) 0.20
30A h) In new double woven Jute bags 0.20
30 B i) In 2nd hand double woven Jute bags 0.20
9 Refrigerated cargo, fruits and vegetables
31 Sea food, Meat, Frozen Food, Fruits, vegetables etc. 0.50
sent in refrigerated and/or insulated vans
31A Sea food, Meat, Frozen Food, Fruits, vegetables etc. 0.60
sent in non-refrigerated and/or non-insulated vans
32 Butter and other Milk Products and Medicines 0.20
10 33 All Bulk Cargo incuding Coal (unless specially provided) 0.20
11 34 Matches, Fire works, Crackers, Gun powders, 0.60
Ammunition, Celluloid explosives, hay, grass, straw,
baggasse and extra-hazardous chemicals
12 35 a) Papers, Stationery Goods, Books, Magazines, etc 0.15
36 b) Finished leather and leather goods Footwear etc 0.15
rubber goods
37 c) All plastic goods and sheets 0.15
13 38 Wines, liquor etc in bottles
a) Packed in glass bottles in cases 0.20
b) Packed in glass bottles in cartons 0.20
c) Packed in any other packing 0.20
14 Pharmaceutical, Medicines and Medical items,
provisions and confectionery including Chocolates 0.40
a) Bottles in cases 0.15
041 b) Bottles in cartons 0.15
042 c) Any other packing 0.15
15 043 Personal Effect and House hold Goods 0.25
16 044 Hides and Skins 0.15
17 045 Automobiles, Tractors, Scooters Motorcycles,
Mopeds in knocked down condition and Spares 0.15
046 Automobiles, Tractors, Scooters Motorcycles,
Mopeds in knocked down condition and Spares 0.15
047 Ball Bearings 0.15
18 048 Other Commodities not specified in the Schedule 0.15
Note: Hazardous liquid/bagged cargo shall attract 50% on basic rate. Extra-hazardous liquid/
bagged cargo shall attract 100% loading.
- 101 -
Additional Rate Of Discounts May
Premium To Be Additional Allowed In The
Charged For Premium Following Types
Of Cases At The
Rates Specified
Hereunder
a. Despatches by open 50% of the Basic a. If cover 60% of
wagon/vehicle unless rate to be charged sought Inland Basic Rate
otherwise provided/ Transit Rail/
Customary Road C Clause
b.Storage at final Basic @ 0.03%All b.If the
destination carrier/C&F risk @ 0.05% per Transit/ 50% of
Agents/Bonded week or part thereof Journey does Basic rate
Warehouse subject to a maximum not exceed 80-
period of 8 weeks KMs
Discounts May
Additional Rate Of Allowed In The
Premium To Be Additional Following Types Of
Charged For Premium Cases At The Rates
Specified Hereunder
If loading on the
carrying vehicle/wagon
at the commencement
of a transit is intended
to be covered under the For despatches 10% of
Inland Transit Clauses by containers – Basic
(Rail/Road) A, B, C 0.005% FCL/FCL basis Rate
If Insured’s opt
d.Where railway for compulsory Appropriate
receipts are not issued deductible/higher discount at
for the full value of the 10% of applicable deductibles from Underwriters
consignments Basic Rate each claim discretion
Insurance Of Containers
Insurance may be granted to containers issued to shipping agents or to consignors/
consignees on lease during their onward journey from a port to notified warehouse, storage
thereat as also their return journey back to port subject to Inland Transit (Rail/Road) Clause
‘B’ only. Wider cover cannot be granted. The rates applicable are as follows:
a) One way transit only 0.15%
b) Both to and fro journeys 0.225%
c) Storage cover at notified warehouse
or part thereof. 0.01% per week
- 102 -
Difference Between Marine ICC 1982 Clause And 2009 Clauses.
Sl.No: Clause/Exclusion As per ICC 1982 As per ICC 2009 IMPLICA-
CLAUSE CLAUSE TIONS
1 1 The Risk covered "contract of The new
is "contract of affreightment "is clause
affreightment" which replaced by "contract encompasses
is a service contract of carriage" which all kinds of
under which a ship specifies the contract transits.
owner agrees to between a carrier
transport products at of goods and the
certain rates consignor/consignee
irrespective of the
mode of transit.
Changes specific to subclauses
Exclusion loss-damage or loss-damage or 1. The new clause
4.3 expense caused expense caused treats packing,
by insufficiency by insufficiency or preparation and
or unsuitability unsuitability of packing stowage in container
of packing or or preparation of the on par for the
preparation of the subject-matter insured, application of this
subject-matter to withstand the exclusion.
insured (for the ordinary incidents of 2. Liftvan is removed.
purpose of this the insured transit 3. Packing,
clause 4.3” packing where such packing or preparation and
shall be deemed to preparation is carried stowage done
include stowage in a out by the assured by independent
container or liftvan or their Employees contractors is
but only when such (FCL) or prior to covered if done after
stowage is carried the attachment of to attachment of
prior to attachment of this insurance. (For insurance.
this insurance or by the purpose of this
the Assured of their clause 4.3” packing
servants). shall be deemed
to include stowage
in a container and
Employees shall not
include independant
contractors ).
Exclusion loss damage or In this clause,the word The scope of
4.5 expense proximately 'proximately ' has been Exclusion is widened
caused by delay, deleted to exclude all
even though the damages due to delay
delay be caused by a
risk insured against
(except expenses
payable under Clause
2 above).
- 103 -
Exclusion loss damage of loss damage of 1.This Exclusion shall
4.6 expense arising from expense arising from apply only when the
insolvency or financialinsolvency or financial Assured is aware or
default of the owners default of the owners in the ordinary course
managers charters managers charters of business,should
or operations of the or operations of the have known about
vessel. vessel,where at the such Insolvency or
time of loading of financial default.
the subject matter
insured,on board the 2.Further this
vessel,the assured exclusion will not
are aware,or in the apply if policy is
ordinary course of assigned to another
business should buyer
be aware,that such
insolvency or financial
default could prevent
the normal prosecution
of the voyage.
this exclusion shall
not apply where the
contract of insurance
has been assigned
to the party claiming
hereunder who has
bought or agreed
to buy the subject
matter insured in good
faith undera binding
contract.
Exclusion loss damage loss damage The scope of
4.7 expenses arising expenses directly Exclusion is widened
from the use of or indirectly arising
any weapon of war from the use of
employing atomic or any weapon of war
nuclear fission and/ employing atomic or
or fusion or other nuclear fission and/
like reaction or radio or fusion or other like
active force or matter reaction or radio active
force or matter
- 104 -
Exclusion There are two In the New clause there
5 clauses- 5.1 and 5.2. are 3 Sections, 5.1,
5.2 and 5.3.
5.1.In no case shall
this insurance cover
loss damage or
expenses arising form
unseaworthiness of
vessel or craft.
unfitness of vessel 5.1.1.unseaworthiness The word Liftvan is
craft conveyance of vessel or craft, omitted
container of liftvan unfitness of vessel
for the safe carriage craft
of the subject matter 5.1.2.Unfitness of
insured. conveyance container
for the safe carriage
of the subject matter
insured.
Where the Assured Where the Assured No change

or their servants or their servants
are privy to such are privy to such
unseaworthiness or unseaworthiness or
unfitness, at the time unfitness, at the time
the subject-matter the subject-matter
insured is loaded insured is loaded
therein therein.
5.2. this exclusion This Exclusion 5.1 will

shall not apply where not apply if policy is
the contract of assigned to another
insurance has been buyer.
assigned to the party
claiming hereunder
who has bought or
agreed to buy the
subject matter insured
in good faith under a
binding contract.
- 105 -
5.2.The Underwriters 5.3.The Underwriters Whether the assured
waive any breach of waive any breach of or their servants
the of the implied the of the implied are privy to the
warranties of warranties of unseaworthiness of
seaworthiness of seaworthiness of the the ship or not,the
the ship and fitness ship and fitness of implied warranties
of the ship to carry the ship to carry the are waived.
the subject-matter subject-matter insured
insured to destination, to destination.
unless the Assured
or their servants
are privy to such
unseaworthiness of
unfitness
Exclusion . In no case this
7 insurance cover loss
damage or expenses.
7.1 caused by No change
strikers, locked-out
workmen, or persons
taking part in labour
disturbances, riots or
civil commotions.
7.2 resulting No change
from strikes,
lock-outs, labour
disturbances riots or
civil commotions.
7.3 caused by Terrorism is defined as: This definition of
any terrorists or any Clause 7.3 Caused by Terrorism is clearly
person acting form a any act of terrorism spelt out as Terrorism
political motive being an act of any has assumed much
person acting on behalf wider dimensions as
of or in connection with compared to the year
any Organization which 1982
carries out activities
directed towards
the overthrowing or
influencing, by force
or violence, of any
government whether or
not legally constituted.
Clause 7.4 Caused by
any person acting from
a political, ideological
or religious motive
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Duration 8.1 This insurance 8.1 This insurance There is a significant
Clause attaches from time attaches from time the difference in this
the goods leave the subject matter insured clause,as loading is
warehouse or place is first moved in the now automatically
of storage at the place warehouse or place covered
named herein for of storage at the place
the commencement named herein for the
of the transit, purpose of immediate
continues during the loadinginto or onto
ordinary course of the carrying vehicle or
transit or terminates other conveyance for
either (Loading Not the commencement
covered) of transit, continues
during the ordinary
course of transit or
terminates either.
8.1.1 on delivery 8.1.1 on completion Unloading clearly
to the Consignees of unloading from the covered.
or their final carrying vehicle or
warehouse or place other conveyance in or
or storage at the at the Final warehouse
destination named or place of storage at
herein. (Unloading is the destination named
unclear) herein.
8.1.2 on delivery to 8.1.2 on completion No change
any other warehouse of unloading from the
or place of storage carrying vehicle or
whether prior to or at other conveyance in or
the destination name any other warehouse
therein, which the or place of storage
Assured elect to use whether prior to or at
either. the destination name
therein, which the
Assured elect to use
either.
8.1.2.1 for storage for storage other than No change
other than in the in the ordinary course
ordinary course of of transit or
transit
or
8.1.2.2 for allocation for allocation or No change
or distribution, distribution,
or
- 107 -
8.1.3. Where the new subclause has
assured or their been added in the
Employees elect to termination clause for
use any carrying use of conveyances
vehicle or other other than in ordinary
conveyance or course of transit
any container for
storage other than in
ordinary course of
transit
or
8.1.3 On the 8.1.4 On the No change
expiry of 60 day expiry of 60 day
after completion of after completion of
discharge overside discharge overside
of the goods hereby of the goods hereby
insured from the insured from the
overseas vessel at the overseas vessel at the
final port of discharge final port of discharge
whichever shall first whichever shall first
occur. occur.
Clause 10 where after 10.1. Where after This is a perceptible
attachment of this attachment of this change and speaks of
insurance, the insurance, the automatic cover even
destination is change destination is changed when loss occurs
by the Assured, held by the Assured,this prior to such approval
covered at a premium must be notified of underwriters for
and on conditions to promptly to Insurers change of destination
be arranged subject for rates and Terms
to prompt notice to be agreed. Should
being given to the a loss occur prior to
Underwriters such agreement being
obtained, cover may
be provided but only
if cover would have
been available at a
reasonable commercial
market rate.
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10.2.Where the Clause 10.2 is a
subject matter insured new clause. In
commences transit earlier 1982 clause
contemplated by Insurers would avoid
this Insurance (in liability if change
accordance with of destination was
clause 8.1), but without the knowledge
without the knowledge of assured. But now
of the assured or if the change of
their Employees,the destination is without
ship sails for the knowledge of
another destination, assured then transit
this insurance is deemed to be
will nevertheless covered.
be deemed to
have attached at
commencement of
such transit.
A Note On Some Non-Institute Marine Clauses

Traditionally we have been issuing policies based on Institute Clauses and the associated
Inland Transit Clauses. With the opening up of the market, it has become common practice to
request non-Institute clauses. Most of these clauses widen the scope of cover. Acceptance
of such wordings would depend on quality of the risk being offered, its historical loss ratio,
rates, deductible etc and strictly to be extended with the approval of Head office only.
A few clauses are appended for reference:
Clause Title Remarks
1 Accumulation Clause or 200% Only the Per Bottom to be doubled, Not
aggregation clause Location Limit ( which might be already
double of the PBL)
2 Aircraft Clause This clause is used where air transits are
involved on limited conditions, because
ICC Air is All risks and does not have a C
Or B version.
3 Brands Clause or Trade Mark/Trade Brands Clause states that the brand names/
Mark Protection Clause logos etc will be removed before sale
(salvage) and cost of such removal will be
paid by insurers.
4 Buyers Interest Clause or Buyers When the assured imports goods on FOB/
contingency clause CFR/FAS basis, he might receive damaged
goods which upon investigation reveals
that the loss occurred during the pre-FOB
transit when he had no insurance interest.
Here there is a need to cover pre-FOB risks
on a contingency basis.
5 Concealed Damage Clause Delayed Discovery of Loss/ Delay in
opening cases for discovery period of 30
days – Usually in projects
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6 Subject to risk management protocol to
minimize sweating heating etc during
Condensation Clause voyage.
7 Often containers have leaky roofs and rust
points but it is difficult to prove the privity
of the insured. Since the insured has no
control over the choice of containers of the
overseas sellers, this clause gives clarity of
Container clause/Fitness clause cover.
8 provides for demurrage charges when
a container cannot be sent back to the
terminal before the agreed due date
provided this delay was caused by an
insured peril during the period the container
was in the custody of the assured. We may
pay demurrage to detain the container to
Container Demurrage clause facilitate inspection by Insurance surveyor
9 Debris Removal AOA limit of 10% of SI
10 No deductible for GA, Salvage and Sue and
Deductible Clause Labour claims from ICC-C perils
11 Deliberate Damage-Pollution Hazard Usually in bulk oils and bulk cargoes
12 Revised 2010 inco terms has made this
redundant as goods are to be deposited in
the hold of the ship and not just over the
FOB shipment Clause rails
13 covers damage to insured cargo by insured
peril and not normal fumigation which will
Fumigation Clause anyway take place routinely
14 Insolvency Clause Deletion of clause 4.6
15 Some refer to inclusion of packing material
within the term “goods” –in other words
insurer admits that loss to packing units is
payable even if there is no corresponding
loss/damage to cargo inside. Such clauses
Packing Clause are also called Presentation Packing clause.
16 Often the rejected goods are repacked by
the overseas buyers. It is warranted that
returned shipments should be repacked to
Returned Shipment Clause same original standard
17 The fact that seals are intact does not
invalidate the claim. In other words the
burden is on the insurer to prove that the
shortage was on account of short-stuffing
Seals Clause by seller
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18 In the event of loss of or damage to any
part or parts of an insured machine by a
peril covered by this insurance, the amount
recoverable hereunder shall not exceed
such proportion of the cost of replacement
of the part lost or damaged as the insured
value bears to the value of new machinery
Second-hand Replacement Clause (market value basis-depreciation will apply)
19 In the event of loss of or damage to the
goods in transit from a peril insured against
and the buyer refusing to pay for such
loss or damage, the seller could stand
to lose financially. Seller's Interest or
Contingency Interest cover could help to
Seller’s Interest Clause prevent this.
20 Subrogation Waiver Clause With 10% excess
Explanations
Remarks 1: Container Demurrage Clause: There are other versions which provide for
demurrage charges when a container cannot be sent back to the terminal before the agreed
due date provided this delay was caused by an insured peril during the period the container
was in the custody of the assured. Paying demurrage to detain the container to facilitate
inspection by Insurance surveyor can be good idea. However amend the clause to “subject
to prior approval of Insurers.” Generally brokers in India do not demand this clause very
often.
Remarks 2 : Goods purchased by assured on FOB etc Clause: When the assured imports
goods on FOB/CFR/FAS basis, he might receive damaged goods which upon investigation
reveals that the loss occurred during the pre-FOB transit when he had no insurance interest.
There is definitely a genuine need to cover pre-FOB risks but on a contingency basis. This is
similar to a Buyer’s Contingency Cover.
Remarks 3 :On Deck Clause: There is a variety of On-Deck Clauses. Some permit on deck
stowage at all risks term. Some provide for ICC(B) cover but including Jettisoning/WOB/
LOB (washing overboard/lost overboard). You need to ask for the full wording and examine
whether the same is acceptable depending on the type of cargo involved.
Remarks 4: Packing Clauses are of two types: Some refer to inclusion of packing material
within the term “goods” –in other words insurer admits that loss to packing units is payable
even if there is no corresponding loss/damage to cargo inside. Such clauses are also called
Presentation Packing clause. This is acceptable. Other set of Packing Clauses modify the
Packing exclusion clause i.e, this exclusion cannot be invoked if the assured is not privy to
packing.
Remarks 5: Returned Shipment Underwriters should exercise caution before agreeing to

such clauses-often the goods are repacked by the overseas buyers and this is seldom to
the same standard of packing of the seller when he exported the goods. Again, there are
many versions-some warrant that returned shipments should be repacked to same original
- 111 -
standard and this is often difficult to ensure by the seller who is now at the mercy of his
buyer(who has rejected the goods). There is a justification for this clause but needs careful
examination.
Remarks 6: Seals Clause: Again several versions of this clause exist. One version simply
states that the fact that seals are intact does not invalidate the claim. In other words the
burden is on the insurer to prove that the shortage was on account of short-stuffing by
seller. Other versions bind the B/L quantity on Insurer and is like a product-guarantee cover
and should be resisted. This clause considerably widens the cover and should be given only
after careful consideration.
We will soon be providing approved versions to all operating offices followed by a workshop
to explain these clauses in detail.
We also propose to talk to major brokers to have a list of mutually agreed wordings so that
you need not ask for a copy of clauses every time business is offered to us.
- 112 -
CARGO CLAIMS
Documents for Processing
1. Evidence of Insurable Interest.

The original copy of the policy or the certificate of insurance and all original shipping
documents relating to a particular claim. It is to be noted that the insurable interest can
not be changed or transferred after the occurrence of the loss.
2 Evidence of shipment/ dispatch. The original/printed copy of bill of lading and/or AWB
and/or Consignment note issued by the carriers.
3 Evidence of loss or damage.

The original survey report for Total and Partial loss. Certificate of non-delivery, damage/
shortage certificate issued by carriers, joint survey report with the carriers, copy of
note of protest issued by the master of the vessel etc.
4 Evidence of Charges involved.

Bills, cash memos, certificates, money receipts towards expenses incurred reasonably
and prudently for the purpose of minimizing the losses in respect of damage to cargo.
5 Evidence of Insured Value.

Original invoice along with the packing list and /or any other document evidencing the
actual insured value of the commodity.
6 Evidence of Preservation of rights of recovery against carriers, bailees & other

third Parties.
A copy of the delivery slip duly qualified by the insured/ consignees for acceptance
of the goods in doubtful condition. Damage/ shortage/ non delivery certificate
issued by the carriers, copy of notice of claim lodged on the carriers along with their
acknowledgement within the stipulated time period.
7. General Average
The receipt of G.A. deposit and / or a copy of counter guarantee issued by the insured/
consignees against G.A guarantee issued by the underwriters shall be obtained.
It is to be kept in mind that all the documents pertaining to a particular claim shall be
submitted in original and /or printed copy of the same.
Photo copy of the documents should not be accepted unless the original/ printed
copies of the documents are submitted to the carriers for recovery claim.
A line of confirmation may also be obtained from the Carriers for acknowledgement of
the original documents.
8. Franchise
Franchise is imposed in order to avoid small losses. Under this clause, parties agree
to bear small losses, say up to Rs.500/-or Rs.1000/- up to which the claim shall not
be preferred but in excess of the stipulated amount, the entire amount is recoverable
under the policy.
- 113 -
9. Excess
Some commodities loss volume or weight inevitably during transit. For example, tallow
may liquefy and leak, whereas other more volatile commodities such as turpentine,
loss in volume by evaporation. Such ordinary losses are always excluded.
Insurers often avoid this difficulty by imposing a stipulation under the policy that such
loss will only be payable in excess of a fixed percentage, and this is based on what is
the recognized ordinary loss.
However, the underwriters admit their liability for shortage of consignment if the same
is proved to have been caused during transit and due to the perils insured against
subject to obtaining shortage certificate from the carriers. Any kind of unexplained
shortage shall not be covered under the policy.
The excess is imposed under the policies due to the following reasons:
a. To minimize the losses.
b. To avoid settlement of natural/ inevitable losses.
No Marine Cargo business shall be accepted with “NIL” Excess
The imposition of Excess under the policies makes the insured his own insurer for a
certain percentage of loss, say 1% of the value of the consignment, as agreed. The
basis of computation of claim considering fixed percentage of excess is under:
Gross Loss Rs 2,00,000/-
Less Salvage Rs 10,000/-
Rs 1,90,000/-
Less Policy Excess Rs 10,000/-
Net Assessed Loss Rs 1,80,000/-
Less 25% for non-protection Rs 45,000/-
of rights of recovery
Net amount Payable Rs 1,35,000/-
Recovery:
It is the duty of the Assured and their Agents, in all cases, to take such measures as may
be reasonable for the purpose of averting or minimizing a loss and to ensure that all rights
against Carriers, Bailees and other third parties are properly preserved and exercised.
Period within Which Notice Is To Be Served To Various Carriers will depend upon the
prevailing provisions of the relevant act applicable like Carriers’s act 1865, Railways’
Act, Carriage by Air Act, Carriage by Sea Act, Port Trust Act,Multimodal transportation
Act etc.
- 114 -
MARINE HULL
General Rules And Regulations
Scope
Marine Hull Insurance primarily relates to coverage for Vessels, Floating Dry Docks, Jetties
etc. It covers the Ship owners’ Interest namely Hull & Machinery (H&M) of the vessel as
also, the associated maritime risks such as Collision liability, General Average, Salvage costs
etc. It is mandatory that the Flag, Ownership or Technical Management of the vessel should
be Indian. The typical vessels proposed for cover are Fishing Vessels, Inland Vessels, Sailing
Vessels and Ocean going vessels. No Loss of Hire cover is granted.
Other Marine covers include Builders Risks for vessels under construction, Charterers
Liability, Ship repairers Liability, Ship breaking risks, Beaching Risks (the last sail to the
ship breaking yard), etc. Off-shore Oil and Energy policies are also available both for
construction risks (Welcar) and operational risks (covering oil wells - both onshore and
offshore platforms). Port Risk Insurances are also written in Marine Hull Department.
War Risks
War Risks cover is granted at rate, terms, conditions and warranties as per cover provided
by GIC Re.
Protection & Indemnity (P&I) Risks:

a. P&I Risks shall NOT be covered in respect of Ocean-going Vessels other than those
operating in the coastal waters of India or insured subject to any one of the following
Clauses incorporating the P&I Risks:
(i) Institute Fishing Vessels Clauses
(ii) Institute Yacht Clauses
(iii) Institute Time Clauses Hulls - Port Risks, with or without Limited Navigation.
However, P&I Risks may be covered subject to Clause 9 of Institute Time Clauses
Hulls-Port Risks dated 20-7-87 on Inland Vessels (Barges, Launches, Tugs etc.)
falling within the scope of Inland Vessels.
b. Standalone P&I cover shall not be given and shall be granted only as an extension to
H&M Policy.
Port Risks Cover:

Cover subject to Institute Time Clauses Hulls-Port Risks shall not be granted to Vessels other
than those employed in sheltered and protected waters such as -
i. Harbour Waters;
ii. Back Waters;
iii. Sea Waters within a radius of 12 N.M. from the Prominent Point of a Port as designated
by Port Authorities/Customs Authorities/Local Authorities.
iv. River Waters, Canal Waters, Lake Waters and the like.
Additional Perils Clause:

H&M Policies may be extended to include Additional Perils as per Institute Additional Perils
Clause (Hulls) in the following cases, subject to Additional Premium as may be decided by
Head Office:
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Rounding-Off Of Rates : All rates shall be rounded off to three decimal places, e.g.,
(a) 0.45454% to be rounded off to 0.455%
(b) 0.45447% to be rounded off to 0.454%
Classification And Maintenance Of Class:

The following warranty shall be incorporated in all Policies where the insurance is accepted
and rated on the basis that the Ship is fully classed:
“Warranted vessel classed as below by one of the following Classification Societies and
class maintained throughout the currency of this policy or held covered at Additional
Premium, provided immediate notice as to change of Classification Society of the vessel or
change, suspension, discontinuance, withdrawal or expiry of class is given to the Insurer:
1. Lloyd’s Register: 100A1 or B.S.
2. American Bureau of Shipping: A1
3. Bureau Veritas: 1 3/3 E
4. China Classification Society: CSA
5. Germanischer Lloyd: 100 A5
6. Korean Register of Shipping: KRS 1
7. Maritime Register of Shipping: KM
8. Nippon Kaiji Kyokai: NS
9. Norske Veritas: 1A1
10. Registro Italiano: 100-A-1.1.
11. Indian Register of Shipping: SU
12. Polish Register of Shipping
13. Croatian Register of Shipping
(B) For vessels aged over 15 years, Class Warranty dated 29.06.1989 as per Annexure ‘K’
to be attached.
[Actually, any member of IACS, International Association of Classification Societies can be a

valid Class. Sl No 12 and 13 are subsequently added Societies]
Mortgagees Interest
No Clause should be inserted in policies whereby Mortgagees are, in case of loss by the
wrongful act or misconduct of the Shipowner, placed in a better position than the Shipowner
would be, if claiming on the policy. If a Mortgagee elects to obtain coverage to protect itself
against loss, due to the wrongful act or misconduct of the Shipowner, a separate insurance
must be placed and this must be a Policy of Indemnity.
Policies Issued To Owners/Charterers, Etc.:

i. In case of a Bareboat Charter, the Hull Policy will be issued to the Bareboat Charterer
only (unless there is an express condition in the Bare-boat Charter Party mandating
the Owners to take the policy) and the interest of the Owner, if required, will be
protected by attaching suitable Loss Payable Clause by the Underwriter on receipt of a
dated notice from the Bareboat Charterer. When Policy is issued favouring the Owners,
no Waiver of Subrogation against the Bare-boat Charterer to be allowed.
ii. For all other Charter Parties, Hull Policy shall be continued / issued only in the name of
the Owners.
iii. For Charterers other than Bareboat Charterers, only Charterers’ Liability Policy can be
- 116 -
issued.
iv. If the Owner and a Bank/Financier are involved, Policy shall be issued to the Owner and
the same can be assigned by the Owner to the Bank/Financier.
Agreed Bank Clause Shall Not Be Used With Any Hull Policy.
Laying-Up Returns:
Lay-up Returns in respect of Vessels laid-up for 90 consecutive days may be allowed during
the currency of the Policy, quarterly in arrears, subject to the Premium having been received
by the Insurer, the provisions of the Returns Clause and Full Premium If Lost (FPIL).
The Principal documents required are as follows:

i. Original Certificate issued by Port Authorities where the vessel was laid-up.
or
ii. Original Certificate from the Repair Yard in case the vessel was undergoing repair,
during the period of lay-up.
iii. Copies of Log extracts for the period concerned if the vessel had been shifted during
the laid-up period.
Cancellation Returns Only Condition (No Lay-up Refund) :

If cover is granted subject to C.R.O.* condition, Insurers may grant discount on H&M, Freight
and Disbursements.
*
C.R.O. condition means an appropriate premium will be returned only on Cancellation of
Policy and that no Lay-up returns will be recoverable under the Policy. Full Returns condition
means that Lay-up returns will be recoverable under the Policy.
Premium Instalment Clause

When premium is collected in instalment under an annual policy, Premium Instalment Clause,
as per Annexure ‘D’, to be incorporated.
3/4ths Collision Liability Cover:

3/4ths Collision Liability cover is available in India as part of H & M Insurance and hence
Insurers shall not allow the Shipowners to place 3/4ths Collision Liability cover outside India.
The balance 1/4th is covered by the P&I clubs, membership of which is mandatory for ocean
going vessels.
Rating Of Subsidiary Interests

The rates for subsidiary interests (Freight and Disbursements/IV) shall not be higher than
the H&M rates of the vessel concerned. Reference should be made to Head office for rate
confirmation.
Deductibles For Sundry Vessels
On Sundry Vessels (viz. Inland Vessels, Dredgers, Fishing Vessels and Sailing Vessels),
deductibles will be fixed based on the following factors
i. Age of the vessel,
ii. H&M Sum Insured of the vessel, and
iii. Rating Level of the fleet to which the vessel belongs.
Insurers will rework the deductible for every vessel at every renewal based on the three
factors viz. age of the vessel, sum insured of the vessel and loss experience of the fleet.
- 117 -
FISHING VESSELS/TRAWLERS
Fishing Vessels/Trawlers (Mechanised or Non-Mechanised) valued upto Rs.100 lakhs,

Vallams & Catamarans engaged in fishing and other operations connected therewith,
including customary towage.
Standard cover available as per IFVC dated 20-7-87. However, the Insured may be allowed
to include the cost of Bunkers and Spares in the H & M Sum Insured. Cover shall be subject
to one or more of the Trading Warranties cited.
No cover shall be granted against IFVC (Additional Perils) Clause 347 dated 20-7-87.
No cover shall be granted on Fish Catch on board Fishing Vessels/Trawlers.
No separate cover for Fishing Nets alone is to be granted in the Marine Hull Deptt. Fishing
Nets whilst on shore under repair or otherwise or whilst stored in Godowns may be covered
against perils like fire, theft and burglary in other Departments concerned and no such cover
shall be granted under Marine Hull Department. Fishing Vessels/Trawlers laid-up on hard
shall be insured under Marine Hull policy only.
Whilst Vessels are laid up for repair or painting, cover for fishing nets on board the Vessels
shall continue as per the perils under relevant Institute Clause subject to which the Vessels
are insured.
However, when the Net is not on the Vessel, the Sum Insured of the Vessel shall not be
reduced. During such times, if the Vessel becomes a Total Loss, claims will be paid subject
to deduction for the Net. For this purpose, the value of Fishing Net needs to be ascertained
at inception.
Minimum Premium is Rs.1000/- per Vessel
Short Period Cover:

Short period cover for a period more than 3 months but less than 12 months may be granted
by charging 1/8th of the Annual Rate per month or part thereof. No instalment facility shall
be granted for short period covers.
Fleet Discount:
Where the ownership consists of 10 or more Fishing Vessels and maintenance is carried
out by the same Owner, a discount of 10% may be allowed. Owner’s Discount/Agency
Commission shall be granted thereafter.
Owner’s Discount Or Agency Commission:

The aggregate deduction from the premium rates contained for Owner’s Discount and
Agency Commission should not exceed 15%. The Quantum of Agency Commission shall be
as per norms stipulated by IRDA.
Splitting Of Values:
The Policy shall be issued only for the aggregate value of Hull, Machinery and Accessories
etc., and separate values of these items shall not be shown therein except the value of
Fishing Net.
- 118 -
Cancellation Returns Only (CRO) :
All the rates are subject to CRO. Cover subject to Full Returns terms shall not be granted.
This means that no refund for Lay up is available under this policy.
S.R.C.C. :
Cover may be extended to include SRCC risks subject to Strikes Clause-Hulls (Time) vide
Annexure ‘J’, at rates given below:
Cover Rate
For restricted conditions (I.F.V.C. dt. 20-7-87 but limited to pay only TL/CTL 0.05% p.a.
including Salvage, Salvage Charges and Sue and Labour).
For wider conditions i.e.I.F.V.C. dt. 20-7-87 with Clause 20 (P & I Risks) 0.10% p.a.
deleted or I.F.V.C. dt. 20-7-87.
PERSONAL ACCIDENT COVER :

Policies on Fishing Vessels/Trawlers with H & M Sum Insured not exceeding Rs. 20 lakhs
may be extended by an endorsement to include P.A. cover for unnamed persons, including
visitors to the Vessel and for crew, limited to the certified capacity, for different Sums
Insured (to be opted by the Insured) at premia as provided below :
Sum Insured (per head) (Rs.) Premium (per head) (Rs.)

1,00,000 60
2,00,000 100
If the Insured wants the P.A. cover, he will be required to take cover for at least the certified
number of crew members required to be on board at any point of time. Beyond this, he will
be free to decide the number of visitors for whom he would like to take the P. A. cover. Thus,
the premium payable will be for the total number of crew members and visitors, at rates
given above for the different sums insured.
The conditions and benefits per person are reproduced below:

1. Death/PTD– 100% CSI
2. loss of sight of both eyes or of the actual loss by physical separation of two entire
hands or two entire feet or of one entire hand and one entire foot or of such loss of
sight of one eye and such loss of one entire foot or of such loss of sight of one eye
and such loss of one entire hand – 100% CSI total and irrecoverable loss of sight of
one eye or of the actual loss by physical separation of one entire hand or one entire
foot- fifty per cent (50%)
Note : P.A. cover can only be granted at the time of inception of the Marine Hull Policy against
payment of full P.A. Premium amount. The extension of P.A. cover shall not be granted
at any other stage of the Policy. No discount is applicable for the P.A. premium under
the Policy.
- 119 -
Collection Of Premium:
(1) H&M Sum Insured upto Rs. 20 lakhs- 40: 30: 30 basis (Policy for 3 months : 3
Months : 6 months)
(2) H&M Sum Insured over Rs. 20 lakhs: For Fishing vessels with H&M Sum Insured
exceeding Rs.20 lakhs, the Premium Instalment Clause vide Annexure ‘D’ shall be
used.
If a Fishing Vessel is sold during the currency of the policy, the number of days for which
pro-rata refund is to be given, shall be calculated according to the specific policy period for
which the vessel was insured. i.e. 3 months or 6 months, as the case may be.
Adverse Weather Warranty:

All Policies shall contain the following Warranties:
1) Warranted Vessel when not employed, shall be safely anchored or moored or secured.
2) Warranted Vessel shall not be employed during adverse weather conditions notified by
the concerned Port Authorities and/or Directorate of Fisheries.
3) (a) Warranted during adverse weather, Vessel shall remain in safe waters properly
moored, and
(b) If already at sea, shall return forthwith as soon as they become aware of the
adverse weather warning and
(c) Vessel shall be manned adequately at all times except when in harbour, sheltered/
safe waters when it should be secured properly and adequate watch and ward
maintained throughout the period it remains therein.”
Warranty Regarding Registration And Licensing Of Fishing Vessels/Trawlers:

All Policies issued in respect of Fishing Vessels/Trawlers must incorporate the following
Warranty:
“WARRANTED VESSEL TO COMPLY WITH LOCAL LAWS AND REGULATIONS WITH REGARD
TO REGISTRATION AND LICENSING”
Conditions Of Insurance:
Insurers shall grant cover subject to any one of the following conditions of Insurance:
1. I.F.V.C. dated 20-7-87 BUT LIMITED TO PAY ONLY TL/CTL (including Salvage, Salvage
Charges and Sue & Labour), C.R.O.
2. I.F.V.C. dated 20-7-87 with clause 20 (P & I risks) deleted, C.R.O.
3. I.F.V.C. dated 20-7-87, C.R.O.
Trading Warranties:
All Trading Warranties Are Subject To The Proviso: “No Breach Of Local Port Regulations
Regarding Sailing”. Warranted Vessel engaged in fishing and operations connected
therewith on the
Zone 1. Coasts of Gujarat, Maharashtra and Goa with leave to proceed upto Karwar
and not beyond 50 Nautical miles into the sea from shore. Warranted Vessel
laid-up from 15th June to 15th August (b.d.i.) with leave to operate on the
coasts of Saurashtra and Kutch during this period.
Zone 2. Coasts of Karnataka, Kerala and West & South Coasts of Tamil Nadu upto and
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including Gulf of Mannar and not beyond 50 Nautical miles into the sea from
shore. Warranted vessel laid up from 1st June to 15th August (b.d.i.)
Zone 3 : Coasts of Andhra Pradesh and Tamil Nadu (including Pondichery) upto and
including Palk Strait and Palk Bay and not beyond 50 Nautical miles into the
sea from shore. Warranted Vessel laid-up from 1st November to 31st January
(b.d.i.) with leave to operate on the coasts of Andhra Pradesh during the
period.
Zone 4. Coasts of Orissa & West Bengal and not beyond 50 Nautical miles into the sea
from shore. Warranted Vessel laid-up from 1st May to 30th September (b.d.i.)
Zone 5. Coasts of Andaman and Nicobar Islands and not to proceed beyond 50 Nautical
miles into the sea from shore, with leave to proceed from Andaman Islands to
Nicobar Islands and vice-versa. Warranted Vessel laid-up from 15th May to
15th November (b.d.i)
Zone 6. Coasts of the Islands constituting Lakshadweep and not to proceed beyond 20
NM into the sea from shore, with leave to proceed from one Island to another
Island forming part of Lakshadweep. Warranted Vessel laid-up from 15th May
to 15th November (b.d.i.).
Notes:
1. Employment Beyond 50 NM to 100 NM:
Where the Fishing Vessels/Trawlers are designed to go beyond 50 Nautical Miles into
the sea from the shore, they may be covered without Additional Premium for plying
upto an appropriate distance, as may be certified by the competent authority, but not
exceeding 100 NM.
2. Trading Warranty For Fishing Vessels/Trawlers Trading In Deep Sea (100NM to

300NM with Additional Premium):
Where Vessel/Trawler is insured to trade beyond 100 N.M, the Trading Warranty shall
be the standard Trading Warranty for Fishing Vessels/Trawlers trading in deep-sea, as
under:
“Warranted Vessel employed for Fishing but not to proceed beyond 300 N.Miles into the sea
from the shore.
a) On the East and West Coasts of India
b) On the Coasts of Lakshadweep Islands
c) On the Coasts of Andaman & Nicobar Islands
All voyages between ports/places named in (a), (b) and (c) above are covered without any
A.P. subject to warranty that no fishing is done during the course of such Voyages.”
Additional Premium to be charged for Fishing Vessels/Trawlers engaged in fishing operations

as under:
a) Beyond one Zone
b) Between 100 Nm to 300 Nm
c) During Monsoon Lay-up period
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Schedule Of Rates - TL And OTL Risks [TL/OTL Tables of TAC Tariff to be included].
1. Total Loss Risks
Initial Rating in respect of Mechanised Fishing Vessels/Trawlers of
• Steel/Fibreglass/Fibreglass Reinforced Plastic construction,
• Insured subject to IFVC dt. 20-7-87 BUT LIMITED TO PAY ONLY TL/CTL (including
Salvage, Salvage Charges and Sue and Labour), C.R.O. TERMS.
• Valued upto Rs.100 lacs may be
• Rated varying from 2.25% to 1.25% (lower the value, higher the rate)
• As decided by Competent Authority.
Notes:
1) For Non-Mechanised Fishing Vessels/Trawlers, the above rates shall be loaded by
20%.
2) For Wooden/Plastic Fishing Vessels/Trawlers, a further loading of 10% shall be
applicable.
3) If plying is restricted between Karwar and Cannanore with the vessel not plying beyond
50 N.M. into the sea from shore, a reduction of 33 1/3% from the rate arrived at above
shall be granted
2. Other Than Total Loss Risks

The OTL rate may vary from 3% to 1.5% (lower the value higher the rate) as decided by the
Competent authority.
Note: If cover is granted subject to I.F.V.C. with Clause 20 (P & I risks) deleted, then 10%
discount on the above Premium may be allowed.
Calculation Of H&M Rate:

The TL rate as per Table 1 of Sub-Section 3 is to be converted into premium in rupees.
Add Premia for Extended Trading and Waiver of Monsoon Lay-up Warranty
Add premia under other items to be covered
Add OTL premium
The total premium chargeable for the relevant vessel should be converted into rate
percent.
To the rate percent arrived at as above, 0.10% should be added in respect of vessels insured
subject to the trading warranty for Fishing Vessels/Trawlers trading in Deep Sea
Classification With The Indian Register Of Shipping (IRS):

Fishing Vessels Reduction in
Premium rate
a. If Vessels are built according to the classification requirements of IRS 2.5%
only; but class with IRS not maintained
b. If Vessels are not built according to the classification requirements of 5%
the IRS but the class is maintained singly with the IRS
c. If the Vessels are built according to the classifiaction requirements of 7.5%
the IRS and the class is maintained singly with the IRS
N.B. 1 The above reduction is not applicable to SRCC rates

N.B. 2 If during the currency of the Policy, classification of a Vessel with the IRS is not
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maintained; the reduction in rates granted shall be withdrawn from the date the Vessel loses
its IRS single classification.
Deductible:
a. For the purpose of Clause 12 (vessel 0.50% of H & M Sum Insured or 10% of the
damage, Sue and Labour, GA, P&I, assessed loss, whichever is higher.
salvage etc)
b. For the purpose of Clause 13 (machinery 10% of the assessed loss.
damage)
N.B. 1 For the purposes of Clause Nos. 12 and 13 of IFVC dated 20-7-87, Deductible
amounts in Rupees should be rounded off to the nearest Thousand.
Salvage Charges and Sue & Labour expenses shall be subject to the Deductible Excess
stipulated above. However, if Sue & Labour expenses are associated with TL/CTL claim, no
deductible shall be applicable.
Vallams and Catamarans shall be insured subject to the following:

i) Rate: 2.00% p.a. subject to IFVC dated 20-7-87, but limited to pay only TL/CTL,
(including Salvage, Salvage Charges and Sue and Labour), C.R.O. conditions.
ii) Minimum Premium: Rs. 100/-
iii) Trading Zone: Plying limited to any one Trading Zone as specified under Sub-section
2, item (B), subject to:
(i) Monsoon lay-up warranty for the respective Zones; and
(ii) Vessel plying not beyond 10 n.m. into the sea from shore.
Vessels are not to be allowed to ply during Monsoon. Monsoon lay-up warranties
cannot be waived even against payment of A.P.
iv) Machinery Warranty: The Insurance shall be subject to the following Machinery
Warranty: - “Warranted total loss of machinery to be paid only in case of total loss of
Vessel being paid”.
SAILING VESSELS
Sailing Vessels (Mechanised or Non-mechanised) valued upto Rs.50 lakhs.

Insurers are prohibited from granting 4/4ths Collision Liability while insuring Sailing Vessels
General Provisions:
Minimum Premium: Minimum Premium is Rs.1000/- per Vessel
Agency Commission or Owner’s Discount: Agency Commission or Owner’s Discount

may be allowed as below:
a. For vessels with H&M Sum Insured upto 5% Agency Commission or 5% Special
Rs.20 lakhs Discount, in lieu thereof.
b. For vessels with H&M Sum Insured over 15% Owner’s Discount.
Rs.20 lakhs upto Rs.50 lakhs
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Cancellation Returns Only (CRO): All rates are subject to CRO conditions. Cover subject to
Full Returns shall not be granted. CRO conditions mean that an appropriate premium will be
refunded only on cancellation of policy and no refunds will be recoverable under the policy
on account of the insured vessel being laid up.
S.R.C.C.: Cover may be extended to include S.R.C.C. risks subject to Strikes Clause-Hulls
(Time) at 0.05% p.a. where the vessel is insured subject to ITC Hulls, TLO (including Salvage,
Salvage Charges and Sue and Labour) conditions and at 0.10% p.a. for wider conditions.
Personal Accident Cover : Policies on Sailing Vessels with H&M Sum Insured not exceeding
Rs.20 lakhs may be extended by an Endorsement to include Personal Accident cover to
unnamed members of crew for Rs.2,00,000/- per head at Rs.100/- per head, subject to a
minimum Premium of Rs.250/- (Rupees One Hundred only). Cover shall be granted for the
exact certified maximum complement of crew.
The conditions and benefits per person are reproduced below :

i. Death/ PTD/ loss of 2 eyes/limbs Rs.2,00,000/-.
ii. loss of sight of one eye or of the actual loss by physical separation of one entire hand
or one entire foot - Fifty per cent (50%) of Rs.2,00,000/-.
NOTE : P.A. cover can only be granted at the time of issuing the Marine Hull Policy against
payment of 40% of the P.A. Premium amount. The extension of P.A. cover shall not be
granted at any other stage of the Policy.
1) H&M Sum Insured upto Rs. 20 lakhs 40: 30: 30 basis (Policy for 3 months : 3
Months : 6 months)
2) H&M Sum Insured Over Rs. 20 lakhs:
For Sailing vessels with H&M Sum Insured exceeding Rs.20 lakhs, the Premium Instalment
Clause vide Annexure ‘D’ shall be used.
Schedule Of Rates For Covers As Per Institute Time Clauses-Hulls, Total Loss Only
(Including Salvage, Salvage Charges And Sue & Labour) Subject To Cro Conditions.
Trading Warranty Rate per Annum
Mechanised Non-Mechanised
1. (A) Warranted Vessel employed for 4.50% 6.00%
carriage of cargo and operations
connected therewith between Suez,
Persian Gulf, Pakistan, Maldives,
Lakshadweep, East and West
Coasts of India and Sri Lanka but not
to proceed North of Visakhapatnam
and South of 15o South Latitude on
the East African Coast.
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(B) Warranted Vessel not to be employed
a. On the West Coast of India, on the South
Coast of Tamil Nadu from Kanyakumari
upto and including Gulf of Mannar,
Pakistan, Maldives, Lakshadweep and
West Coast of Sri Lanka from 1st June
to 15th August (b.d.i.) with leave to
employ the Vessel from 1st June to 7th
June (b.d.i.)
i. between ports in Saurashtra/Kutch and
Bombay Port.
ii. between ports in Saurashtra/Kutch and
ports in Suez, Persian Gulf and Pakistan
iii. between Bombay port and ports in
Suez, Persian Gulf and Pakistan.
b. On the East Coast of India, North of Gulf
of Mannar and East Coast of Sri Lanka
from 1st November to 31st January
(b.d.i.)
(C) Employment during the prohibited period

is permitted as under:
a. On the coasts of Saurashtra/Kutch
b. Between Tuticorin and Sri Lanka
c. On the Coast of Andhra Pradesh not

North of Visakhapatnam.
(D) Vessel may be permitted to ply in Persian
Gulf area from 1st June to 15th Aug. by
charging Additional Premium @ 25% of
the appropriate rates as stipulated in III &
IV.
2. (A) Warranted vessel employed for 4.00% 5.50%
connected therewith between Suez,
Persian Gulf, Pakistan, West Coast
of India, Maldives, Lakshadweep
and West Coast of Sri Lanka, but not
to proceed south of 15 0 South latitude
on the East African coast; with
liberty to proceed to south coast of
Tamil Nadu upto and including Gulf
of Mannar.
- 125 -
(B) Warranted vessel laid up from 1st June
employ the vessel from 1st June to 7th
June (b.d.i.)
d. between ports in Saurashtra/Kutch and
Bombay port.
e. between ports in Saurashtra/Kutch and
ports in Suez, Persian Gulf & Pakistan
f. between Bombay Port and Ports in
Suez, Persian Gulf and Pakistan.

g. on the coasts of Saurashtra/Kutch
h. between Tuticorin and Sri Lanka
i. vessels may be permitted to ply in
Persian Gulf area from 1st June to 15th
August by charging additional premium
@ 25% of the appropriate rate as
stipulated in III & IV.
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connected therewith on the East
and West Coasts of India, Pakistan,
Maldives, Lakshadweep and Sri
Lanka but not to proceed North of
Visakhapatnam.
(B) Warranted vessel not to be employed

a. on the West Coast of India, on the South
Coast of Tamil Nadu from Kanyakumari
upto and including Gulf of Mannar,
Pakistan, Maldives, Lakshadweep and
West Coast of Sri Lanka from 1st June
June (b.d.i)
i. between ports in Saurashtra/Kutch and
Bombay Port.
ii. between ports in Saurashtra/Kutch and
ports in Pakistan.
iii. between Bombay Port and Ports in
Pakistan.
b. on the East Coast of India, North of Gulf

of Mannar and East Coast of Sri Lanka
from 1st November to 31st January
(b.d.i.)
(C) Employment during the prohibited

period is permitted as under:
b. on the coasts of Saurashtra/Kutch
c. between Tuticorin and Sri Lanka
d. on the coast of Andhra Pradesh but not
north of Visakhapatnam
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connected therewith between
Pakistan, West Coast of India,
Maldives, Lakshadweep and West
Coast of Sri Lanka with leave to
proceed to South Coast of Tamil
Nadu upto and including Gulf of
Mannar.
(B) Warranted vessel laid up from 1st June

June (b.d.i.)
a. between ports in Saurashtra/Kutch and
Bombay port.
b. between ports in Saurashtra/Kutch and
ports in Pakistan
c. between Bombay port and ports in
Pakistan.

d. on the coasts of Saurashtra/Kutch
e. between Tuticorin and Sri Lanka
connected therewith on the East
Coast of Sri Lanka and East Coast
of India not North of Visakhapatnam
and not South of Palk Strait.
(B) Warranted vessel laid up from 1st Nov.

to 31st January (b.d.i.)
(C) Employment during the prohibited

period is permitted on the coast
of Andhra Pradesh not North of
Visakhapatnam.
6. Warranted vessel employed for carriage 2.50% 3.00%
of cargo and operations connected
therewith between Ship and Shore at
any port in India.
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7. Warranted vessel employed for carriage or 3.50% 4.50%
cargo and operations connected therewith
on the coasts of Andaman & Nicobar
islands and not to proceed beyond 50
n.m. into the sea from shore with leave to
proceed from Andaman islands to Nicobar
islands and vice-versa.
Warranted Vessels laid up from 15th May

to 15th August and from 1st Novembr to
31st January (b.d.i).
Vessels may be allowed to ply during lay-

up period subject to the following:
a. Warranted vessel shall not be employed

during adverse weather conditions as may
be notified by appropriate authorities.
b. Warranted no voyage during the lay-up

period shall exceed 175 n.m. in distance
or 24 hours in time, whichever is less.
Schedule Of Rates Of Additional Premium For Wider Conditions
Wider Conditions Rates of Additional Premium for

Mechanised/Non-Mechanised
Sailing Vessels
A. For incorporating P&I liabilities subject to Clause 9 of 0.25%
Institute Time Clauses, Hulls-Port Risks 20-7-87.
Deductible of 331/3% of the assessed loss or
Rs.1000/, whichever is higher, each claim.
B. Subject to Institute Time Clauses-Hulls 1-10-83 1.00%
Deductible for Clause No.12 - 331/3% of the assessed
loss or Rs.1,000/-, whichever is higher, each claim.
Note :
Deductible amounts in Rupees should be rounded off to the nearest Rs.50/- and Rs.50/- to
the next Rs.100/-. Salvage Charges and Sue and Labour expenses shall be subject to the
Deductible Excess stipulated above. However, if Sue and Labour expenses are associated
with TL/CTL claim, no deductible shall be applicable therefor.
An Example Of Premium Rate Working

Data : Vessel MSV “P Q R”; Year built - 1993; GRT - 150. H&M Sum Insured - Rs.49 Lakhs.
Conditions: ITC - Hulls 1-10-83, CRO. Trading Warranty: as per Sub-section III- 2A, B and
- 129 -
C.
Percent
Basic Rate 4.00
Add Extra for wider cover 1.00
5.00
Add 25% for plying in the Persian Gulf area during the 1.25
lay-up period
Total 6.25
Base premium @ 6.25% on H&M Sum Insured of Rs.1,25,000/-
Rs.20,00,000/-
Rs.1,25,000 X 95/85 Rs.1,39,706/-
Loading as per Table for H&M S. I. upto Rs.30,00,000/- Rs.18,820/-
(941 X 20)
Loading as per Table for H&M S. I. upto Rs.49,00,000/- Rs.23,864/-
(628 X 38)
Total Rs.1,82,390/-
H&M rate 3.72% p.a.
Inland Vessels
Inland Vessels with GRT not exceeding 2000 Tons and plying in inland waters of India.
Inland Vessels: All types of Vessels such as Barges, Pontoons, Flats, Floating Cranes,
Launches, Passenger Vessels, Tugs and Port Crafts employed in Inland Waters.
Inland Waters: All sheltered and protected water such as:

(i) Harbour Waters;
(ii) Back Waters;
(iii) SeaWater within a radius of 12 N.M.from the Prominent Point of a named Port
designated by Port Authorities/Customs Authorities/Local Authority
(iv) River Waters, Canal Waters, Lake Waters and the like.
Cancellation Returns Only (CRO):

All Inland Vessels shall be granted cover subject to CRO terms only. CRO conditions mean
that no refunds will be recoverable under the policy on account of the insured vessel being
laid up.
Standard Sets Of Conditions

Insurances on H&M Interest shall be granted subject to one of the following sets of
Conditions:
i. ITC-Hulls Total Loss Only (including Salvage, Salvage Charges and Sue and Labour)
dated 1-10-83.
ii. Institute Time Clauses - Hulls dated 1.10.83 (Wider cover including partial loss and
3/4ths collision liability).
iii. Institute Time Clauses - Hulls dated 1.10.83 with 3/4ths Collision Liability amended to
4/4ths Collision Liability.
iv Institute Time Clauses - Hulls Port Risks dated 20-7-87 (including P&I covers such as
wreck removal etc).
- 130 -
Note:
a. P&I cover may be granted only as an extension of the H&M Policy on wider cover
basis, i.e. as per items (ii) & (iii) above.
b. P&I cover may be granted in conjunction with the Conditions (ii) or (iii) above, subject
to Clause No.9 of the ITC - Hulls Port Risks dated 20-7-87.
c. Increased Value or Disbursements Insurance and/or Increased Value shall be granted
subject to ITC-Hulls Disbursements & Increased Value (TLO including Excess
Liabilities) dated 1.10.83. The sum insured for insurance on Disbursements and/or
Increased Value must not normally exceed 25% of the H&M sum insured.
Trading Warranty:
Insurances shall be granted subject to one of the Trading Warranties
i. Vessels excluding Tugs and Launches/Passenger Vessels employed in Inland Waters
of India (excluding Bihar, West Bengal and Assam)
ii. Tugs employed in Inland Waters of India (excluding Bihar, West Bengal and Assam)
iii. Launches/Passenger Vessels employed in Inland Waters of India (excluding Bihar,
West Bengal and Assam)
iv For all types of Vessels excluding Tugs and Launches/Passenger Vessels employed in
Inland Waters of Bihar, West Bengal and Assam
v. For Tugs employed in Inland Waters of Bihar, West Bengal & Assam
vi. For Launches/Passenger Vessels employed in Inland Waters of Bihar, West Bengal and
Assam
Rating Parameters Of Inland Vessels:

1. Age, GRT, vessel type (tug/launch/passenger/others), twin/single engines, collision
bulkhead, double bottom, construction material, coverage (tlo/ga/cl/ sscsl)
2. Total loss risks-
3. Other than total loss risks
4. Wider trading warranty cover
5. Strike, riot & civil commotion (SRCC) risks
Rating For Dry-Docking Risks :

For vessels covered subject to ITC – Hulls Port Risks dated 20/07/87, cover may be extended
to cover Dry-docking risks by charging A.P.
For vessels which are not covered as above, separate premium to be charged for the voyage
to and from the Port of repair, time period risks (awaiting dry-docking) and the actual dry-
docking period
Ocean Going Vessels

Standard Policy Forms of the Institute of London Underwriters are normally used. ITC Hulls
1.10.83 is the most commonly used form for ocean going vessels.
Hull, Machinery and Accessories of a Vessel shall be deemed one interest and insured under
one sum. Splitting of sums insured under Hull, Machinery and Accessories separately is not
permitted.
The Policy covers Particular Average loss or damage to the vessel, General Average, Salvage,
Salvage Charges, Collision Liability and Sue & Labour.
- 131 -
The perils covered under the policy are:
1. Perils of the seas, river, lakes or other navigable waters
2. Fire, explosion
3. Violent theft by persons from outside the vessel
4. Jettison
5. Piracy
6. Breakdown of or accident to nuclear installations or reactors
7. Contact with aircrafts or similar objects, land conveyance, dock or harbour equipment
or installation
8. Earthquake, volcanic eruption or lightning
9. Accidents in loading, discharging or shifting cargo or fuel
10. Bursting of boilers, breaking of shaft or latent defect in the hull or machinery
11. Negligence of crew, master, officers or pilots
12. Negligence of repairers or charteres provided they are not an assured
13. Barratry of master, officers or crew
Deductibles For Ocean-Going Vessels

The amount of deductible will depend on the following factors:
i. Age of the Vessel,
ii. H&M Sum Insured of the Vessel and
Trading Warranties :
All vessel attachments shall be covered subject to any one of the following Trading Warranties:
Ocean-Going Vessels :
(A) Warranted vessel plying only within the port limits of ________ ( name of Port)with
leave to proceed not beyond 12 N.M. from the Prominent Point of the harbour/port as
designated by Port Authorities/Custom Authorities/Local Authorities.
(B) Institute Warranties dated 1-7-1976 but trading limited to East and West Coasts of
India, Pakistan, Sri Lanka and Bangladesh.
(C) Institute Warranties dated 1-7-1976 but trading limited to East and West Coasts of
India, Pakistan, Sri Lanka, Bangladesh and Burma with liberty to proceed to Maldives,
Lakshadweep and Andaman and Nicobar Islands.
(D) Institute Warranties dated 1-7-1976 but trading limited to not East of 110o East
longitude and not West of 30o East longitude.
(E) Institute Warranties dated 1-7-1976 but trading limited to not East of 180o East
longitude and not West of 20o West longitude.
(F) Institute Warranties dated 1-7-1976 (worldwide).
Supply And/Or Support Vessels And/Or Tugs (Ocean-Going Type) :

“Warranted trading within the Exclusive Economic Zone of India
• With liberty to shift/tow other vessels/rigs or to be towed and
• With further liberty to tow subject to MMD/Surveyors’ approval of towage plan,
• Not more than three vessels of conventional type at a time,
• Including rendering of salvage services, supply services, fire fighting services, anchor
handling services, cargo handling etc.,
• In her course of business as customary in the offshore trade activities for which the
vessel is intended,
• Notwithstanding whatever stated in the withinmentioned clauses 1,2 & 3 of I.T.C. Hulls
dated 1-10-83 attached to the within mentioned Policy,
- 132 -
• Including passages via Sri Lanka waters whilst trading within the Exclusive Economic
Zone of India”.
S.R.C.C. Risks :
If the owner of an Ocean-going Vessel opts to cover his vessel only for SRCC risks, the same
may be granted as per Strikes Clause-Hulls (Time) and Rates given below. Strikes clause
includes cover for terrorism and Malicious damage.
Rates :
a) For restricted conditions : 0.05% p.a. or 0.0125% per quarter or part thereof.
b) For wider conditions : 0.10% p.a. or 0.025% per quarter or part thereof.
Rating Factors
i. The category of the fleet based on the total of the Sums Insured under H & M Interest.
ii. Fleet experience i.e. net premiums and claims paid and outstanding for a stated period.
For calculating the Claims Ratio of any fleet for fixing renewal rate, Premium and Claim
figures for 4 completed years and current year, whether adverse or not, shall be taken
into account
General:
a. If Vessel is insured subject to “ITC Hulls Port Risks,” a reduction in rate for deletion of
1/4th Collision Liability and P & I may be granted, on merits of each case. Application
of A.P. for covering breach of warranty should succeed the reduction that will be offered
for limiting the cover. The extra/reduction is to be individually calculated and is to be
added / subtracted to/from Basic Rate and final rate is to be worked out accordingly
and applied.
b. Claims are payable New for Old without depreciation even for partial losses. Provision
is there for both Constructive total loss and unrepaired damage depending on
circumstances.
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BUILDERS’ RISKS INSURANCE
Applicable to all Vessels (mechanised or non-mechanised) irrespective of value whilst under
construction in any Shipyard or Boat-building Workshop in India.
Conditions Of Insurance:
All Policies on Builders’ Risks shall be issued subject to Conditions, Warranties and
Rates mentioned hereunder including Insurance of Ships under renovation, jumboisation,
conversion and/or repairs.
i. The rates set out are in respect of the conditions contained in the Institute Clauses for
Builders’ Risks.
ii. No Risk - Hull or Machinery - to be accepted without a time limit.
Rating Of Vessels During And After Conversion/ Jumboisation :

When Conversion/Jumboisation process starts, the existing H&M conditions of cover,
including Port Risks cover, shall be discontinued and cover as per BAR shall be given.
After Conversion/Jumboisation, the TL and OTL rates obtaining on the Vessel prior to
Jumboisation should be allowed to continue on the new Sum Insured and Tonnage.
Basis Of Rating :
The basis of rating shall be on :
i. Full Contract Value or Full Completed Value, whichever is greater. Rating on the basis
of gradually progressing value shall not be permitted.
ii. Contract period or the period from inception of any work in the Yards or Shops until
final delivery, whichever shall be the longer, subject always to the limitation of the
Duration of Risk Clause.
If such information is not available when the Insurance is provisionally placed, rates
are to be adjusted from inception when final details about full contract value/full
completed value and full contract period are known. However, rating shall be done on
the basis of full estimated value and/or full estimated period of construction.
Category:
A. Barges and other Vessels without main propelling machinery.
B. Conventional Vessels not designated elsewhere, Drilling Rigs, Dredgers, Pipe-laying
Barges, Newsprint Carriers and similar Vessels.
C. Vessels including Container Ships, having refrigerated capacity of over 30%, Passenger
Vessels, Vehicle-carrying Vessels and Ferries of all kinds and Barge carriers, Hover-
crafts, Yachts, Vessels constructed of wood, fibreglass or aluminium.
D. Warships, Liquid Gas Carriers, Liquid Sulphur Carriers and Vessels with insulation or
with refrigerating or similar machinery, specially designed for carriage of a specific
cargo.
Minimum Rates Subject To Record Of Yard:

Category ‘A’ 0.35% + in respect of IV (ii) above 0.035% per month or part thereof
Category ‘B’ 0.45% + in respect of IV (ii) above 0.045% per month or part thereof
- 134 -
Category ‘C’ 0.55% + in respect of IV (ii) above First 12 months - 0.055% per
month or part thereof
Next 12 months - 0.065% per
month or part thereof
Thereafter - 0.075% per month or
part thereof
Category ‘D’ To be assessed on case to case basis
Special Conditions:
i. Vessels of 1,00,000 DWT or over, launched down a slipway are subject to an Additional
Premium of 0.20%.
ii. If the completed contract period is shorter or longer than the period of the Policy, the
period rate is to be adjusted accordingly.
General:
a. Propelling Machinery and Auxiliary Machinery built by Sub-contractors on which there
is no risk prior to arrival at Yard, to be rated at appropriate Scale rate plus the monthly
rate for the period commencing from the time the first such item is delivered at the
yard.
b. Items of weapon equipment (including associated electronic equipment) on which
there is no risk prior to arrival at a Yard, to be rated at the Scale Rate plus the monthly
rate for the period commencing from the time first such item is delivered to the Yard.
c. Owner’s discount is restricted to 15% only.
Deductibles:
The following deductibles shall apply:
i) Category ‘A’, ‘B’, ‘C’ & ‘D’
0.05% of the provisional contract value subject to a minimum of Rs.1,500/- and a
maximum of Rs.6,00,000/- all claims, including collision liability, S&L, P&I and
Removal of Wreck, other than TL or CTL.
Note:
1. All Deductibles may be rounded off to the nearest Rs.100/- and Rs.50/- to the next
Rs.100/-.
2. All Deductibles to be mentioned in Rupees and not as percentage in Policy.
3. Deductible mentioned in Policy is not subject to upward or downward revision,
irrespective of the change in full completed/contract value of the vessel.
Movements For Docking, Trials And Delivery:

Under own power to be limited to 250 nautical miles. For greater distances for Ocean- going
Vessels, the matter shall be referred well in advance.
Any movement in tow, outside Port or place of construction, to be referred with particulars,
for fixing Additional Premium rate.
Additional Premium for covering materials conveyed to a Building Port by Sea.
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War Risks:
All Building Risks must be subject to War Exclusion Clause. War cover if extended will be
only for the waterborne risk.
Strikes Clauses:
Strikes risks may be covered subject to Institute Strikes Clauses, Builders’ Risks in force.
Duration Of Risk:
The following clause must be incorporated in all Policies:
From 00.00 Hours on ..... Date ...... month 20 ... to 24.00 Hours on ..... Date ...... month
20 ... or until delivery, if delivered on an earlier date.
Extension of cover beyond the period mentioned in the Policy may be allowed by charging
Additional Premium.
Continuation for short periods may be held covered as under:

Upto 5 days .......... No Additional Premium.
Over 5 days but not above 15 days ........ One half of monthly rate.
Over 15 days ......... Full monthly rate.
The Premium may be collected on quarterly basis subject to the provisions under the
Insurance Act, subject to the following:
1. Instalment payment facility on quarterly basis will be granted only when the period of
construction is 12 months or over.
2. The first instalment will be 5% more than the rest.
Delivery Voyage Beyond 250 N.M. On Own Power:

A. The Builders’ Risks Policy may be extended to include cover for delivery voyage under
own power (after completion of the construction and trials) beyond 250 n.m., by
charging the appropriate Additional Premium for the residual distance as for Inland
Vessels, provided the vessel involved is otherwise rateable under either Inland Vessels
or Fishing Vessels or Sailing Vessels or Dredgers.
B. If the delivery voyage cover is required by parties other than the Builders, the same can
be granted under separate Voyage Policy by charging twice the appropriate additional
Schedule Rate as applicable, but deductible in such cases will be 1% of the H&M Sum
Insured as is applied under a normal Voyage Policy, if cover is required as per IVC
Hulls - 4/4ths Collision Liability.
C. For covering delivery voyages beyond 250 n.m. involving Ocean-going Vessels and
any type of Vessel under tow, appropriate premium to be charged on case to case
basis.
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MOTOR (VEHICLE) INSURANCE
Motor Insurance in India is mandatory for any vehicle (like Private Cars, Motorized Two
Wheelers and Commercial Vehicles as defined in the Motor Vehicle Act excluding vehicles
running on rails) designed to run on public road. Motor Insurance was earlier guided by India
Motor Tariff, which is being phased out by the regulator Insurance Regulatory Authority of
India (IRDAI). Instead, Company wise guidelines are being placed though. But Act Liability
(Third Party ) premium pricing is still guided by IRDAI.
Motor Insurance in India cannot be transacted outside the purview of Motor Guideline
unless specifically authorized by Head Office. For risks which have not been provided for,
in these guidelines, reference should be made to HO for advice thereon. Rates provided
under guidelines are minimum rates for our Motor products filed with Insurance Regulatory
Authority of India (IRDAI).
Loading on premium rates upto 100% may be applied for adverse claim experience of the
vehicle insured and individual risk perception as per Company’s assessment.
There shall be no refusal of cover in any case for Liability Only Cover. Motor Liability (Third
Party) premium is being reviewed every year by the IRDAI and being amended which would
be applicable from 1st April every year.
Geographical extension to SAARC (Bangladesh, Bhutan, Nepal, Pakistan, Sri Lanka and
Maldives) countries may be allowed by charging a flat additional premium:
Package Policy at Rs.500/- per vehicle
Liability Only Policy at Rs.100/- per vehicle (for any class of vehicle)
for a period not exceeding 12 months.
This extension specifically excludes cover for damage to the vehicle / injury to its occupants
/ Third Party Liability in respect of the vehicle during transit (air passage/ sea voyage) for
the purpose of ferrying the vehicle to the extended Geographical Area.
Agreed value policies can be issued to Vintage Cars (manufacture prior to 31.12.1940)
and Classic Cars (manufactured after 31.12.1940 and before 31.12.1970) subject to its
certification by Vintage and Classic Car Club of India.
Types Of Motor Policies

There are two types of annual policies:
i. Liability only Policy: This covers Third Party Liability for bodily injury and/or death and
Property Damage. Personal Accident Cover for Owner-Driver is also included.
ii. Package Policy: This covers loss of or damage to the vehicle insured (Own Damage)
in addition to (i) above.
Restricting the scope of cover under Section-I (loss of or damage to the vehicle
insured) of the Package policy without any reduction in Guideline rates is permitted.
Excepting this, no alteration or extension of any of the Covers, Terms, Conditions,
Exclusions, etc., of any of the Policies/Endorsements laid down in the Guideline is
permitted without prior approval of HO.
Long Term Policies: Long terms policies can be issued for Two Wheelers only
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i. Long Term Two Wheeler Package Policy (Introduced on 9th Nov 2015) – Policy can
be issued for two and three years. Age of the vehicle should not be more than 9 years
for two years policy and 8 years for three years policy. Two wheelers beyond 10 years
age can be insured under annual Two Wheeler Package Policy.
ii. Long term Liability only Policy (Introduced on 13 Feb 2015) - It can be issued for two
wheelers for two years / three years, with cover to damage against third party property
and life as well as personal Accident cover for owner driver.
Scope Of Cover / Exclusions

• Basic Coverage - NIC’s Motor Package Policy covers any loss or damage
Section I : To the vehicle by
- Natural Calamities including Act of God (AOG) perils
Fire, Explosion, Self ignition or Lightning, Earthquake, Flood, Hurricane, Storm,
Tempest, Inundation, Cyclone, Hailstorm, Frost, Landslide, Rockslide.
- Other than Natural Calamities
Burglary, Theft, Riot, Strike, Malicious Act, Accident by external means, Terrorist
activity, Any damage in transit by road/rail/Inland waterway/Lift/Elevator or Air etc.
Section II
- Third Party Legal Liability
Covers for legal liability due to accidental damage for
A. Any permanent injury / death of a person or,
B. Any damage caused to the property of a third party (TPPD)
Section : III (or IV in case of Commercial Vehicle)
- Personal Accident Cover
Motor insurance provides compulsory Personal Accident cover for individual owner
of the vehicle who has valid driving license. PA cover also is available for Paid Driver,
Cleaner, Occupants and Passengers.
For Commercial vehicles Section III is cover for towing of disabled vehicles.
• Major Exclusions
Insurance Company shall not be liable in respect of any claim arising out of
• any loss / damage and or liability sustained or incurred outside the Geographical Area
• whilst the vehicle insured is being used otherwise than in accordance with the
‘Limitations as to Use’
• whilst the vehicle insured is being driven by or is for the purpose of being driven by
him/her in the charge of any person other than a Driver as stated in the Driver’s Clause
• arising out of any contractual liability
• any consequential loss
• Death arising out of and in course of employment of a person in the employment of
the insured (except so far as is necessary to meet the requirements of the M V Act )
• Death or bodily injury to any person (other than a passenger carried by reason of or
in pursuance of a contract of employment) being carried in or upon or entering or
mounting or alighting from the motor vehicle at the time of the occurrence (except so
far as is necessary to meet the requirements of the M V Act )

(Private Car and Two Wheeler: During currency of the policy even after death of the insured,
policy remains valid for three months from the date of death or till expiry of the policy
(whichever is earlier) to facilitate transfer of the policy in the name of legal heir
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ADD ON COVERS
1) Nil Depreciation Cover - (Introduced on 27.01.2012 for Private Car Package and
Two Wheelers, and on 12.02.2015 for Commercial Vehicles )
It is advisable to grant this cover to new vehicles at the time of Purchase only and continued
during each renewal by charging the appropriate loading as per rating table below.
Mandatory pre-acceptance vehicle inspection is required while granting NIL Dep. cover for
the first time (except new cars) on renewals of NIC policies as well as transfer of insurance
from any other insurer and also the insured being entitled to no claim bonus on renewal i.e.
there should not be any claim on expiring policy.
Add-On cover shall be available to all vehicles which are not exceeding 5 years of age
barring the following
i. Commercial vehicles operating in mines not exceeding 2 years of age
ii. Commercial vehicles operating in construction sites not exceeding 3 years of age
iii. Obsolete Models and imported commercial vehicles are not covered
Age of the vehicle has to be considered from the date of purchase invoice or date of
registration of the vehicle, whichever is earlier.
Rating: Additional premium payable is as follows

Pvt. Car & Two Wheelers For Commercial Vehicles
Sr. No. Age of the Vehicle
Loading on Basic OD Rate Premium Rate as on % of IDV
1 New Vehicle 15 % 0.29%
2 Less than 2 yrs 25 % 0.31 %
3 2 yrs. and 3 yrs 35 % 0.36 %
4 3 yrs. to 4 yrs 40 % 0.43%
5 4 yrs. to 5 yrs 40 % 0.53%
Note:
1. Under Nil Depreciation add on cover, in case of a partial loss, no depreciation will
be charged on the parts replaced but additional excess is deducted as follows.
Deductibles:
a) Pvt. Car : 5% of claim amount subject to a minimum of Rs. 500/- and maximum of
Rs. 2,500/-
b) Two wheelers: 5% of the claim amount subject to a minimum of Rs. 250/- and
maximum of Rs.1,000/-
c) For Commercial Vehicles – No additional excess.
2. For Pvt. Car & Two Wheelers Policy the benefit under this add on shall be payable
for upto two claims only.
Exclusions
The Company shall not be liable to make any payment in respect of Depreciation towards
1) Replacement of accessories, extra fittings and/ or any internal improvements in the
Insured Vehicle unless specifically mentioned under a separate IDV.
2) Any loss arising out of theft.
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3) Any other exclusion as per policy
2) Invoice Protect: (Introduced on 23rd Aug 2014, for Private Car Package and Two Wheelers
and on 3rd Feb 2016 for Commercial Vehicles )
Coverage: In case of Total Loss / Total Theft / Constructive Total Loss of the Vehicle, the
settlement of the final claim i.e. Sum Insured of the vehicle will be always less than the
current Invoice price of the same model of vehicle.
By taking Invoice Protect Add-On cover, the difference in Current Invoice price of the same
model of vehicle and the Sum Insured / IDV will be covered along with some additional
benefits which are as following:-
i) First time Registration charges
ii) Motor Own Damage Premium, and
iii) Road Tax incurred with respect to the insured vehicle.
The sum of the three above subject to a maximum of 10% of Current Invoice Price.
Submission of following two documentary proof is mandatory with proposal form.
(a) Copy of receipt for Registration Charges paid
(b) Copy of receipt for Road Tax paid
Premium Rating: Premium payable will depend on the IDV and age of the vehicle.
Pvt Cars Two Wheelers Commercial
Sr.
Age of the Vehicle Vehicles
No.
Premium Rate as on % of IDV
1 New Vehicle 0.08% 0.28% 0.16%
2 Less than 2 yrs 0.30 % 0.46 % 0.25 %
3 2 yrs. and 3 yrs 0.42 % 0.61 % 0.30 %
4 3 yrs. to 4 yrs 0.59 % 0.66 % 0.40 %
5 4 yrs. to 5 yrs 0.67 % 0.94 % 0.52 %
Add-On shall be available for all vehicles whose age is less than 5 years. Age of the Vehicle
to be considered from the date of purchase of brand new vehicle. Obsolete models and
imported vehicles are not to be covered.
Exclusions: The company does not have any liability in respect of following
a. A total loss/ constructive total loss/ total theft claim that is not admissible under
Section-I of the Package Policy
b. Loss of accessories only
c. Any facilitation charges paid to any broker/ dealer / intermediary in respect of the
vehicle registered
d. Any road tax refund received from R.T.O. after occurrence of Total Loss / Constructive
Total Loss / Total Theft to the insured vehicle
e. Any other exclusion as per the Package policy.
Points to Remember
1) In case of transfer of ownership, the policy will cease.
2) Midterm cover is not allowed.
3) The Policy period under this Add-On cover should coincide with that of the Package
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Policy.
4) Vehicle to be of indigenous make.
5) Obsolete models are not to be insured.
6) Vehicle insured with other companies can be covered under Policy and Add-on Cover,
subject to inspection of the vehicle
7) Policy and Cover to be underwritten in the same office only.
8) Proposals of vehicles beyond 3 years of age are to be referred to the Regional Offices
for its approval.
9) No Claims Bonus is not to be allowed on the Premium under this add-on.
3) Engine Protect: (Introduced w.e.f. 15 Oct 2015) - This add on cover will cover repair
or replacement of the following loss of or damage to the insured vehicle, arising during
the policy period
i. Engine and/or engine parts arising out of damages/ losses arising out of water
ingression due to flood/ inundation resulting in hydrostatic lock.
ii. Engine and/or engine parts and/or gear box parts and/or differential parts arising by
engine seizure and/or gear box/ differential failure due to leakage of lubricating oil
directly caused by an accidental external impact on the engine/gear box/ differential
iii. In addition to the above, the cost of consumables replenished while undertaking the
repair or replacement of the parts covered shall also be payable.
Sr. Commercial
Pvt Cars Two Wheelers
No. Age of the Vehicle Vehicles
1 New Vehicle 0.09% 0.05% 0.09%
2 Less than 2 yrs 0.11 % 0.06 % 0.11 %
3 2 yrs. and 3 yrs 0.14 % 0.07 % 0.14 %
4 3 yrs. to 4 yrs 0.16 % 0.09 % 0.16 %
5 4 yrs. to 5 yrs 0.20 % 0.10 % 0.20 %
Add-On shall be available for all vehicles whose age is less than 5 years. Obsolete models
and imported vehicles are not to be covered.
Exclusions : The Company shall not be liable to make any payment in respect of
1) Losses covered under any other insurance of any nature or manufacturer’s warranty
or recall campaign at the time of happening of any loss or damage.
2) Losses including corrosion of engine due to delay in intimation to the Company and/ or
retrieval of the Insured Vehicle from the water logged area and/or repair of the vehicle.
3) Claims where the repair has been carried out without prior approval of the Company
4) No Claim Bonus Protect - (Introduced on 15 Oct 2015) - In the event of a claim, the ‘No
Claim Bonus (NCB)’ component of the Policy reduces to 0%. Such reduction in NCB causes
hardship to policyholders. To protect policyholders from such hardship, No Claims Bonus
Protect has been specially designed to help the insured in retaining the NCB earned even if
there are claims.
Coverage - On renewal of the Policy, the percentage of No Claims Bonus (NCB) accrued
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shall be maintained for up to two claims admissible under Section I of the Private Car
Package Policy with respect to loss or damage to the Insured Vehicle occurring during the
policy period.
Exclusions - What is not covered?

1) More than two claims made under the Private Car Package Policy.
2) Claims for Total Loss (TL)/Constructive Total Loss (CTL).
3) The ownership of the Insured Vehicle is transferred.
4) Mid-term cover
Sr. Commercial
Pvt Cars Two Wheelers
No. NCB Level Vehicles
1 20 % 0.16% 0.03% 0.05%
2 25 % 0.17 % 0.05 % 0.06 %
3 35 % 0.20 % 0.06 % 0.08 %
4 45 % 0.21 % 0.07 % 0.11 %
5 50 % 0.23 % 0.11 % 0.14 %
Add-On shall be available for all vehicles whose age is less than 6 years. Age of the Vehicle
to be considered from the date of purchase of brand new vehicle. Obsolete models and
imported vehicles are not to be covered.
POLICY EXTENSIONS
Additional Towing Charges : Additional towing charges can be opted in addition to limits
already provided under standard package policies.
Vehicles Addl. Towing Charges Additional Premium payable
Pvt. Car Upto 1500 5% on addl. Amt. opted for
Two Wheelers Upto 300 5% on addl. Amt. opted for
Commercial Vehicles (other than Upto 300 5% on addl. Amt. opted for
TradePpolicy) Two Wheeler
Commercial Vehicles (other than Upto 750 5% on addl. Amt. opted for
TradePpolicy) Three Wheeler
Other Commercial Vehicles Upto 10000 5% on addl. Amt. opted for
Other Commercial Vehicles 10001 upto 20000 7.5% on addl. Amt. opted for
Trade Policy Upto 300 5% on addl. Amt. opted for
Trade Policy 301 to 500 7.5% on addl. Amt. opted for
Additional Accessories / Extra Fittings

Electrical / Non-electrical accessories can be covered e.g., Fog lights, Alloy Wheels, Music
System, Seat Covers, Bi-fuel system (approved by RTA) such as CNG or LPG kit etc. can be
covered under Sec I @ 4% of value of such fittings.
In case of CNG/LPG fittings if value is not available, flat 5% extra is charged on OD premium.
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Extensions / Extra Benefits
Private Cars And Two Wheelers- Rallies/ Reliability Trials/ Wider Legal Liability To
Occupants
3. Private Car or two wheeler Policy can be extended for Rallies held in India. Rally
extensions may be further extended to include motor racing, speed tests, dexterity
trials, hill climbs or motor racing (whether organized separately or included in the
course of a rally) by:
• charging a loading of 300% of both OD and Liability Only premiums at Short Period
rates for the duration of the rally, but with
• exclusion of any cover in respect of either the owner-driver, driver and / or
passengers carried in the vehicle or the promoters of the event.
4. Private Car or two wheeler Policy can also be extended for Reliability trials
conducted in India by the Manufacturers. Policies may be extended to use the vehicle
for conducting reliability trial by
• loading 300% on both OD and liability only premiums at short period rates for the
duration of the reliability trial
• with an excess of 10% of the claim amount per accident under OD claims only, but
• with the exclusion of any cover in respect of either the owner-driver, driver, rider
and / or passengers carried in the vehicle.
Extended Wider Legal liability to paid driver/cleaner/conductors/employees travelling in or

driving the vehicles may be covered @ Rs. 50/-per employee (revised rate w.e.f. 01.04.2012)
Commercial Vehicles- NFPP/ Overturning/ Tyres
Legal Liability for accidents to Non-fare paying passenger, owner of goods who are not
employees of the insured, carried in a Goods Carrying Vehicle can be covered @ 75/- per
passenger and in passenger carrying vehicles @ Rs.125/- per passenger
Package policies issued to Mobile Cranes, Mechanical Navies, Shovels, Grabs, Rippers,
Excavators, Dragline Excavators, Mobile Drilling Rigs, Mobile Plant etc can be extended to
cover damage to the respective unit by overturning during operational use as a tool of trade
at an additional rate of 0.5% of IDV of the vehicle subject to a minimum additional premium
of 100/- (Only for Miscellaneous and Special Type of vehicles Policy)
Deletion of 50% Limitation Clause in respect of damage to tyres in Motor Trade Road
Transit Risks only policy can be covered with additional premium of 1% on the basic OD
premium per chassis/ vehicle per trip Variants(Only for Motor Trade Policy)
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GENERAL GUIDELINES
Determination Of Sum Insured/Values To Be Insured

In Motor Insurance sum insured is known as ‘INSURED DECLARED VALUE’ or IDV. It is to
be fixed on the basis of manufacturer’s listed selling price at the Commencement / Renewal
and adjusted for depriciation as shown below :
Age of the Vehicle % of Depreciation for IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40 %
Exceeding 4 years but not exceeding 5 years 50%
Exceeding 5 Years - IDV of vehicles beyond 5 years of age is to be determined on the
basis of an understanding between the insurer and the insured. Obsolete models of
the vehicles above 5 years ( i.e. models which the manufacturers have discontinued to
manufacture) and Commercial vehicles over 10 yrs. of age may not be covered under
a package policy unless it has been insured with the same office having good claim
experience duly approved by RO.
IDV once arrived will remain valid throughout the policy period. IDV of other accessories /
attachment if any whether electrical or non - electrical has to be mentioned separately and to
be added to reach the final IDV. Other incidental expenditure incurred by the owner to launch
the vehicle on road are not to be included in the IDV. However IDV for same make and model
may vary in different locations because of varying inbuilt cost.
Note:- Vehicles with special attachment (need not be miscellaneous class of vehicles alone)
though built-in separate value must be mentioned in the proposal form as well as in the
policy. Like for Rig Mounted Drilling Rig Vehicle we need to know vehicle price, compressor
price, rig assembly price. Similarly for vehicle with rotating drum for cement mixture, we
need to know drum price and vehicle price separately and rate has to be applied on total IDV.
Premium Rates For Short Period Cover given at the end of the book.
NB : Short period covers/short period renewals for Liability Only Policies are not
permissible
Transfer Of Ownership Of A Vehicle

New owner shall apply within 14 days from the date of transfer in writing under recorded
delivery to the insurance company with the details of RC, date of transfer, name of the
previous owner, policy number and policy period along with the consent letter of the previous
owner and with acceptable evidence of sale and fresh proposal form filled up by him/her
so that insurance company may make necessary changes in their record and issue fresh
certificate of insurance. Old certificate of insurance is required to be surrendered (if not
possible a declaration has to be obtained from the proposer) and a transfer fee (Rs. 50/- +
Goods and Service Tax) has to be paid.
If the new owner is not entitled to the benefit of NCB shown on the policy, or is entitled to
a lesser % of NCB than existing in the policy, recovery of the difference between the new
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owner’s entitlement, if any, and that shown on the policy shall be made before effecting the
transfer. Also ascertain whether financial outstanding if any is cleared or not.
Change Of A Vehicle
A vehicle insured under a policy can be substituted by another vehicle of the same class
(and value should not be much higher than what was of the previous vehicle) for the balance
period of the policy subject to adjustment of premium, if any, on pro-rata basis from the date
of substitution.
Where the vehicle so substituted is not a total loss, evidence in support of continuation of
insurance on the substituted vehicle is required to be submitted to the insurance company
before such substitution can be carried out.
Compulsory PA Cover For Owner Driver

Class of Vehicle Capital Sum Insured Annual Premium
Two Wheeler 1 Lakh Rs.50/-
Private Car 2 Lakhs Rs.100/-
Commercial Vehicle 2 Lakhs Rs.100/-
Note:-
I. Compulsory PA cover can be given to the owner of the vehicle provided: a) He has a
valid driving License for the vehicle Insured and b) He is the registered owner
II. Compulsory PA cover can be taken by Owner/Insured for more than one vehicle owned
by him but the claim will be admitted by the company only in respect of the particular
vehicle driven at the time of accident.
Optional PA Cover
Class Of Vehicle Optional PA for every unit of Rs.10000/- or part thereof
Motorizes Two Wheelers Rs. 7/- Max. Capital Sum Insured is
Private Cars Rs. 5/- Rs 2 lakhs per persons
Commercial Vehicles Rs. 6/-
Note 1:- Optional PA cover can be given to Insured / Named person and also Unnamed
Passengers (other than the paid Driver and Cleaner subject to the registered carrying
capacity) in case of Private Cars and Two Wheelers.
Note 2:- Optional PA cover can also be given to Paid Drivers Cleaners / Conductors for all
Classes of Vehicles.
Note 3:- Optional PA can be given to unnamed Hirer / Driver in case of 2 Wheeler used for
Hire and Reward.
Third Property Damage (TPPD) Cover

In-built limit of Discount on Liability premium if
Class of Vehicle
TPPD opted for TPPD of Rs. 6000/- only
Commercial & Misc. Vehicles. Rs.7.5 Lakhs Rs.200/-
Three Wheeler + Tourist Taxi Rs.7.5 Lakhs Rs.150/-
Private Car Rs.7.5 Lakhs Rs.100/-
Two Wheeler Rs.1 lakh Rs. 50/-
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Note:- TPPD Cover cannot be allowed / changed mid term
No Claim Bonus ( NCB )

• NCB can be earned only in OD section of Policies covering all classes of vehicles
except Motor Trade Policies and policies which cover only Fire and / or Theft Risks.
For policies covering Liability with Fire and/or Theft Risks, the NCB will be applicable
only on the Fire and / or Theft components of the premium.
• An insured becomes entitled to NCB only at the renewal of a policy after the expiry of
the full duration of 12 months. Grace period for continuing NCB in case of non-renewal
of policy is 90 days from the date of expiry of the policy and in case of Service
personnel posted in forward areas the grace period is 365 days.
• NCB is a credit given to the original Insured who earned the same. It is not transferable.
• The percentage of NCB earned on a vehicle owned by an institution during the period
when it was allotted to and exclusively operated by an employee should be passed
on to the employee if the ownership of the vehicle is transferred in the name of the
employee. This will however require submission of a suitable letter from the employer
confirming that prior to transfer of ownership of the vehicle to the employee, it was
allotted to and exclusively operated by the employee during the period in which the
NCB was earned.
• Where the insured is unable to produce such evidence of NCB entitlement from the
previous insurer, the claimed NCB may be permitted after obtaining a declaration from
the insured as per the following wording:
“I / We declare that the rate of NCB claimed by me/us is correct and that no claim
has arisen in the expiring policy period (copy of the policy enclosed). I/We further
undertake that if this declaration is found to be incorrect, all benefits under the policy
in respect of Section I of the Policy will stand forfeited.”
• In case of false/wrong NCB declaration, any Own Damage claim on the existing policy
will not be payable.
• To avail NCB, policies have to be renewed within 90 days of its expiry

No Claim Bonus, wherever applicable will be as per following table
% OF DISCOUNT
All types of Vehicles on Own Damage
premium
No claim made or pending during the preceding full year of insurance 20%
No claim made or pending during the preceding 2 consecutive years 25%
of insurance
of insurance
of insurance
of insurance
Excess / Deductibles
Claims under Own Damage section of policies covering all classes of vehicles are subject to
a compulsory deductible as per the under noted table:-
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Type Of Vehicles
Compulsory
Goods carrying Passenger carrying Deductibles(Rs)
Vehicles Vehicles
Commercial Not exceeding 7500 Not exceeding 17 500/-
Vehicles (other Kg. GVW passengers
than vehicles Exceeding 7500 Exceeding 17 1000/-
rateable under Kg. GVW but not passengers but
Class-D,E,F exceeding 16500 Kg. not exceeding 36
and G of CVT) GVW passengers
Exceeding 16500 Kg. Exceeding 36 1500/-
GVW passengers
Vehicles rateable under Class D of the Commercial Vehicles 0.5% of IDV of the
Guidelines (CVT) vehicle subject to
a minimum of Rs.
2000/-
Vehicles rateable under Class E, F and G of the Commercial Rs.50/-for two-
Vehicles Guidelines (CVG) wheelers and Rs.
500/- for others
Taxis and Three Wheelers rated as Commercial Vehicles 500/-
(Not exceeding 1500cc)
Taxis and Three Wheelers rated as Commercial Vehicles 1000/-
(Exceeding 1500 cc)
Private Cars including three wheelers rated as Private Cars 1000/-
(Not exceeding1500cc) – Revised in 2012
Private Cars including three wheelers rated as Private Cars 2000/-
(Exceeding 1500 cc) Revised in 2012
Motorized Two Wheelers. Revised in 2012 100/-
Note: For commercial vehicles Exclusions under Endorsement - 21 may be reinstated in

cover by payment of additional premium @15% of the total gross OD premium (before
application of any discount) and Endorsement -23 is to be used for such reinstatement of
excluded cover.
Basic Rating/Pricing
The basic premium to be calculated depends primarily on Type of vehicle, IDV, Age of
vehicle, Area of Operation (Zone), Cubic Capacity / Gross Vehicle Weight / Passenger
Carrying Capacity, Type of Use (Public / Public Carrier), Period of coverage (Annual or
Short period ), Discounts / loading Add-Ons.

PRIVATE CARS
For the purpose of rating, whole country has been divided into Four zones. Premium rate
depend upon the cubic capacity of engine and zone in which vehicle has been registered.
Zone P1 : Delhi, Punjab, HP, Haryana, J & K, Chandigarh
Zone P2 : Uttar Pradesh, Uttaranchal, Rajasthan, Bihar, Jharkhand, Maharashtra, Goa
Zone P3 : Gujarat (Daman, Diu, Dadar & Nagar Haveli), Andhra Pradesh, Karnataka, Tamil
Nadu, Pondicherry, Madhya Pradesh, Chattisgarh, Assam & North Eastern states, Andaman
& Nicobar
- 147 -
Zone P4 : West Bengal, Orissa, Kerala, Lakshadweep, Sikkim
Minimum values for the purpose of computation of premium, in respect of Private Cars
shall be as under irrespective of any lower value proposed for insurance.
Cubic Capacity Minimum Value
Not exceeding 1000 cc Rs. 15,000/-
Exceeding 1000 cc but not exceeding 1500 cc Rs. 20,000/-
Exceeding 1500 cc Rs. 30,000/-
Premium Rates For Own Damage Cover

(Rates % on IDV)
ZONE P 1 ZONE P 2 ZONE P 3 ZONE P 4
CUBIC CAPACITY CUBIC CAPACITY CUBIC CAPACITY CUBIC CAPACITY
(In CC) (In CC) (In CC) (In CC)
1001 - 1500 CC
1001 - 1500 CC
1001 - 1500 CC
1001 - 1500 CC
Upto 1000 CC
Upto 1000 CC
Upto 1000 CC
Upto 1000 CC
1500 CC
1500 CC
1500 CC
1500 CC
Above
Above
Above
Above
OD 2.50 2.62 2.70 2.20 2.52 2.34 2.19 2.43 2.25 2.07 2.25 2.24
% % % % % % % % % % % %
Premium Rates For Liability ( Third Party ) Cover

For Year 2017 - 2018 2018 – 2019 2019 - 2020 2020 - 2021 2021-2022
Upto 1000 CC 2055
1001 – 1500 CC 2863
Exceeding 7890
1500 CC
Note : Liability Act only ( TP ) premium rates for all category of vehicles are applicable
for year 2017 - 2018 and subject to revision by IRDAI every year w.e.f. 1st April.
TWO WHEELERS (MOTOR CYCLE / SCOOTER)

(Used for Pvt. Purpose only)
For the purpose of rating, whole country has been divided into TWO zones. Premium rate
depend upon the cubic capacity of engine and zone in which vehicle has been registered and
age of the vehicle.
Zone A: Ahmedabad, Bangalore, Chennai, Hyderabad , Kolkata, Mumbai, New Delhi and
Pune.
Zone B: Rest of India.
Minimum values for the purpose of computation of premium, in respect of Motorized two
wheelers shall be as under irrespective of any lower value proposed for insurance.
CUBIC CAPACITY MINIMUM VALUE
Not exceeding 150 cc Rs. 5,000/-
Exceeding 150 cc but not exceeding 350 cc Rs. 6,000/-
Exceeding 350 cc Rs. 7,000/-
- 148 -
( Rates % on IDV )
ZONE B ZONE A
CUBIC CAPACITY CUBIC CAPACITY

Age
of
the Not Exceeding Exceeeding Not Exceeding Exceeding
vehicle exceeding 150c 350 cc exceeding 150c 350 cc
150 cc but not 150 cc but not
exceeding exceeding
350 cc 350 cc
Not exceeding
1.341 % 1.408 % 1.475 % 1.366 % 1.434 % 1.503 %
5 years
Exceeding 5
years but not
1.408 % 1.478 % 1.549 % 1.434 % 1.506 % 1.578 %
exceeding 10
years
Exceeding 10
1.442 % 1.514 % 1.586 % 1.469 % 1.542 % 1.616 %
years
Premium Rates For Liability (Third Party) Cover

For Year 2017 - 2018 2018 - 2019 2019 - 2020 2020 - 2021 2021-2022
Upto 75 CC 569
76 CC to 150 CC 720
151 CC to 350 CC 887
Above 350 CC 1019
Loss of accessories, the property of the Insured, by Theft may be covered at an additional
premium @ 3% of the value of the accessories specifically declared by the proposer /
insured in the proposal form and or in a letter forming part of the proposal from, subject
to a minimum premium of Rs.50/- for this extra benefit only.
Long Term Two Wheeler Package Policy

(Rates % On IDV)
Motorized
Zone A
Two Zone B
Wheelers
Age of the Not Exceeding Exceeding Not Exceeding Exceeding
vehicle exceeding 150cc 350 cc exceeding 150 cc 350 cc
150 cc But not 150cc But not
Exceeding Exceeding
350 cc 350 cc
0 to 5 1.341% 1.408% 1.475% 1.366% 1.434% 1.503%
years
- 149 -
6 to 9 1.408% 1.478% 1.549% 1.434% 1.506% 1.578%
years
The TP Premium shall be twice or thrice, depending on the policy period, of the TP rates for
two wheelers, prescribed by IRDA at the time of inception of the Long term package policy.
Other Discounts Two Year policy Three Year policy
Fixed Discounts 15 % 20 %
Long Term Discount 5% 5%
Online Discount 4% 7.5%
Long Term Liability Only Policy ( For Two Wheelers Only )

Premium Rates: The policy can be issued for 2 years and 3 years.
1) As per the prevailing rate per annum applicable at the time of accepting the proposal,
multiplied by two or three years for two years or three years of policy periods
respectively.
2) In any circumstances, the premium shall not be revised upwards or downwards during
the policy period, i.e., two years/ three years.
3) The entire premium shall be collected in one installment subject to compliance of
section 64 VB of Insurance act 1938.
COMMERCIAL VEHICLES
All Commercial vehicles are classified as follows
A. Guidelines for Goods Carrying Vehicles
A.1 Public Carriers } other than three wheelers
A.2 Private Carriers } other than three wheelers
A.3 Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles. (Public
Carriers)
A.4 Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles. (Private
Carriers)
B. Guidelines for Trailers
C. Guidelines for Vehicles used for carrying Passengers for Hire or Reward -
These guidelines are sub classified into :
C.1 Guidelines for four wheeled vehicles and three wheeled vehicles used for carrying
passengers for hire or reward with carrying capacity not exceeding 6 passengers.
C.2 Guidelines for four (or more) wheeled passenger carrying vehicles with carrying
capacity exceeding 6 passengers and three wheeled passenger carrying vehicles with
carrying capacity exceeding 17 passengers for hire or reward.
C.3 Guidelines for motorized three wheeled passenger carrying vehicles with carrying
capacity exceeding 6 passengers but not exceeding 17 passengers for hire or reward.
C.4 Guidelines for motorized two wheelers used for carrying passengers for hire or
reward.
D. Guidelines for Miscellaneous and Special Type of vehicles
E. Guidelines for Motor Trade -- Road Transit Risks only
- 150 -
F. Guidelines for Motor Trade -- Road Risks only
G. Guidelines for Motor Trade -- Internal Risks only

For the purpose of rating, whole country has been divided into following zone. Premium rate
depend upon the Zone in which vehicle has been registered, age of the vehicle, gross vehicle
weight (for goods carrying) and registered passenger carrying capacity.
(i) Commercial Vehicles rateable under Section 4.C.1 and C.4 (Passenger).
Zone A: Ahmedabad, Bangalore, Chennai, Hyderabad , Kolkata, Mumbai, New Delhi and
Pune.
Zone B: Rest of India
(ii) All Other Commercial Vehicles- GOODS/TRAILERS/MISC/TRADE

Zone A Chennai, Kolkata, Mumbai, New Delhi.
Zone B All other State Capitals
Zone C Rest of India
Minimum values for the purpose of computation of premium, in respect of commercial

vehicles shall be as under irrespective of any lower value proposed for insurance.
Type Of Vehicles Minimum Value
Three Wheeled Goods carrying Vehicles with GVW not exceeding Rs. 5000/-
1200 kgs.
Other Goods Carrying Not exceeding 2000 Kgs. Rs. 5000/-
Vehicles with Exceeding 2000 Kgs. but not exceeding Rs. 20,000/-
GVW 6000 Kgs
Exceeding 6000 Kgs. but not exceeding Rs. 30,000/-
12000 Kgs
Exceeding 12000 Kgs. Rs. 40,000/-
Trailers Rs. 3,000/- per Trailer
Four wheeled vehicles Not exceeding 1500 cc. Rs. 15,000/-
with carrying capacity
not exceeding 6
passengers with
corresponding Cubic
Capacity of Engine:
Exceeding 1500 cc. Rs. 30,000/-
Three Wheelers with Not exceeding 150cc Rs. 1,500/-

carrying capacity Exceeding 150cc.but not exceeding 250 Rs.2,500/-
not exceeding 6 cc.
passengers with Exceeding 250 cc. Rs. 4,000/-
corresponding Cubic
Capacity of Engine:
Three wheelers with carrying capacity exceeding 6 passengers Rs.25,000/-
but not exceeding 17 passengers
Four wheeled passenger carrying vehicles with carrying capacity Rs.20,000/-
exceeding 6 passengers but not exceeding 17 passengers
Type Of Vehicles Minimum Value
- 151 -
Four (or more) wheeled and three wheeled passenger carrying Rs.30,000/-
vehicles with carrying capacity exceeding 17 passengers but not
exceeding 36 passengers
Four (or more) wheeled passenger carrying vehicles with Rs. 50000/-
carrying capacity exceeding 36 passengers but not exceeding
60 passengers
Four (or more) wheeled passenger carrying vehicles with Rs. 60000/-
carrying capacity exceeding 60 passengers
Two wheeler passenger carrying vehicles with or without side car As per Guidelines
applicable to motorized
two wheelers
Class – D Miscellaneous and Special Types of Vehicles other than Rs. 50000/-
pedestrian controlled agricultural tractors not exceeding 6 HP.
Pedestrian controlled agricultural tractors not exceeding 6 HP. Rs. 10000/-
A) Class A - Guidelines For Goods Carrying Vehicles

Goods Carrying Vehicle - Other Than Three Wheelers (A.1 - Public Carriers / A.2 - Private
Carriers )
Premium Rates For Own Damage Cover - For Gvw Upto 12000 Kgs.
A.1 PUBLIC CARRIERS A.2 PRIVATE CARRIERS
Age of the Zone - C Zone - B Zone - A Zone - C Zone - B Zone - A
vehicle
Not exceeding 1.726 1.743 1.751 1.208 1.220 1.226
5 years
Exceeding 5 1.770 1.787 1.795 1.239 1.251 1.257
years and not
exceeding 7
years
Exceeding 7 1.812 1.830 1.839 1.268 1.281 1.287
years
Extra premium for GVW above 12000 kg : Rs. 27/- for additional 100 kg each or part
thereof.

For A.1 For Public Carriers
For The Year 2017 - 2018 2018 – 2019 2019 - 2020 2020 - 2021 2021-2022
Gross Vehicle
Weight (GVW)
Not exceeding 14390
7500 Kgs.
7501 Kgs. to 19667
12000 Kgs
12001 Kgs. to 28899
20000 Kgs.
- 152 -
20001 Kgs. to 31626
40000 Kgs.
Exceeding 33024
40000 Kgs.
For A.2 For Private Carriers

For the Year 2017 - 2018 2018 - 2019 2019 - 2020 2020 - 2021 2021-2022
Gross Vehicle
Weight
(GVW)
Not exceeding 7938
7500 Kgs.
7501 Kgs. to 14330
12000 Kgs
12001 Kgs. to 9871
20000 Kgs.
20001 Kgs. to 14805
40000 Kgs.
Exceeding 21318
40000 Kgs.
Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles

( A.3 - Public Carriers / A. 4 - Private Carriers )
OD PREMIUM A.3 For Public Carriers A.4 For Private Carriers
(% on IDV) (% on IDV)
Age of the Vehicle Zone - C Zone - B Zone - A Zone - C Zone - B Zone - A
Not exceeding 5 years 1.640 1.656 1.664 1.148 1.159 1.165
Exceeding 5 but not 1.681 1.697 1.706 1.177 1.188 1.194
exceeding 7 years
Exceeding 7 years. 1.722 1.739 1.747 1.205 1.217 1.223
For A. 3 For Public Carriers
For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
For Three Wheelers 5680
& Motorized Pedal
Cycles
For E Carts 3969
For A.4 For Private Carriers

For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
For Three Wheelers 4200
& Motorized Pedal
Cycles
- 153 -
For E Carts 3438
Class B - Guidelines For Trailers

Rating Schedule : Rates on IDV
No. of Trailers under Towed by
tow at any one time
Agricultural Tractors Other Vehicles including
(by one or more
(upto 6 HP) Class D vehicles
towing vehicles)
Own Damage Own Damage (per
(per Trailer) Trailer)
1 Trailer towed 0.87% 1.05%
2 Trailers towed 0.90% 1.08%

For Class B Trailers Liability Premium per trailer
For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Agricultural Tractors 653
(upto 6 HP)
Other vehicles 1673
including Class B
Vehicles
Note :
1. Where more than one trailer is owned but not more than one trailer is towed at a time,
the basis of rating is the basis of “1 trailer towed” and this must be applied to all
trailers. The premium so calculated must be charged on all trailers owned by and/or in
possession of the insured. The same principle is to be applied in cases where not more
than two, not more than three, …. (as the case may be), trailers are towed at a time.
2. “It is hereby declared and agreed that for the purpose of No Claim Bonus (NCB) the
towing vehicles and the trailer(s) whilst attached thereto shall be treated as a single
unit and any claim made or arising in respect of one section of the unit will affect the
Bonus entitlement of both sections of the unit.”
3. No concession for “Vehicles Laid Up” is permissible in respect of Trailers.
- 154 -
Class C - Guidelines For Vehicles Used For Carrying Passengers For Hire Or Reward
C1 (a) Guidelines for FOUR wheeled vehicles used for carrying passengers for hire or
reward with carrying capacity not exceeding 6 passengers: (Four Wheeler Taxi )
Premium Rates For Own Damage Cover (Rates % on IDV)

ZONE B ZONE A
Age of the vehicle
Upto 1001 cc Above Upto 1001 cc Above
1000 cc to 1500 1500 cc 1000 cc to 1500 1500 cc
cc cc
Upto 3.191 % 3.351 % 3.510 % 3.284 % 3.448 % 3.612 %
5 years
Above 5 years but 3.271 % 3.435 % 3.598 % 3.366 % 3.534 % 3.703%
upto 7 years
Above 7 years 3.351 % 3.519 % 3.686 % 3.448 % 3.620 % 3.793 %

For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Upto Rs. 6396/- +
1000 cc Rs.1230/- per
licensed passenger
1001 cc Rs. 8408/- + Rs.
to 1500 cc 1035/- per licensed
passenger
Above Rs. 11144/- + Rs.
1500 cc 1183/- per licensed
passenger
C1(b) Guidelines for THREE wheeled vehicles used for carrying passengers for hire or
reward with carrying capacity not exceeding 6 passengers: (THREE WHEELER AUTO
RICKSHAW )

Age of Vehicle Zone C Zone B Zone A
Upto 5 years 1.260% on IDV 1.272% on IDV 1.278% on IDV
Above 5 years but 1.292% on IDV 1.304% on IDV 1.310% on IDV
upto 7 years
Above 7 years 1.323% on IDV 1.336% on IDV 1.342% on IDV

For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
For three wheeler Rs. 2218/- +
passenger carrying Rs.1061/-
per licensed
passenger
- 155 -
For E Rickshaw Rs.1440/- +
Rs.689/- per
licensed
passenger
C.2 Guidelines for four (or more) wheeled passenger carrying vehicles with carrying
capacity exceeding 6 passengers and three wheeled passenger carrying vehicles with
carrying capacity exceeding 17 passengers for hire or reward.(4W >6; 3W >17)

Age ZONE C ZONE B ZONE A
Of Maximum Licensed Carrying Capacity Maximum Licensed Carrying Capacity Maximum Licensed Carrying Capacity
The Upto Above Above Exceed- Upto Above Above Exceed- Upto Above Above Exceed-
vehicle 18 pas- 18 but 36 but ing 60 18 pas- 18 but 36 but ing 60 18 pas- 18 but 36 but ing 60
sengers upto 36 upto 60 passen- sengers upto 36 upto 60 passen- sengers upto 36 upto 60 passen-
passen- passen- gers passen- passen- gers passen- passen- gers
gers gers gers gers gers gers
Premium
Upto 5 Rs 350 Rs 450 Rs 550 Rs 680 Rs 350 Rs 450 Rs 550 Rs 680 Rs 350 Rs 450 Rs 550 Rs 680
years + 1.656 + 1.656 + 1.656 + + 1.672 +1.672 + 1.672 + + 1.680 +1.680 + 1.680 +
% % % 1.656 % % % % 1.672 % % % % 1.680 %
Above Rs 350 Rs 450 Rs 550 Rs 680 Rs 350 Rs 450 Rs 550 Rs 680 Rs 350 Rs 450 Rs 550 Rs 680
5 years + 1.697 + 1.697 + 1.697 + 1.697 + 1.714 +1.714 + 1.714 + 1.714 + 1.722 +1.722 + 1.722 + 1.722
but upto % % % % % % % % % % % %
7 years
Above 7 Rs 350 Rs 450 Rs 550 Rs 680 Rs 350 Rs 450 Rs 550 Rs 680 Rs 350 Rs 450 Rs 550 Rs 680
years + 1.739 + 1.739 + 1.739 + + 1.756 +1.756 + 1.756 1.756 % + 1.764 +1.764 + 1.764 +
% % % 1.739 % % % % % % % 1.764 %
C. 2 PREMIUM RATES FOR LIABILITY ( THIRD PARTY ) COVER

For four or more wheeled passenger carrying vehicles with carrying capacity exceeding 6
passengers
For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Four wheeler carrying Rs.13176/-
more than 6 passanger + Rs.805/-
per
licensed
passenger
Three wheeled passenger carrying vehicles with carrying capacity exceeding 17 passengers
For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Three wheeler Rs.12189/-
carrying more than 17 + Rs.745/-
passanger per
licensed
passenger
- 156 -
C.3 Guidelines for motorized three wheeled passenger carrying vehicles with carrying
capacity exceeding 6 passsengers but not exceeding 17 passengers for hire or reward.
Premium Rates For Own Damage Cover Rates % On IDV

AGE OF VEHICLE ZONE C ZONE B ZONE A
Not exceeding 1.759% 1.777% 1.785%
5 years
Exceeding 5 years but not 1.803% 1.821% 1.830%
exceeding 7 years
Exceeding 7 years 1.847% 1.866% 1.874%
Premium Rate For Liability (Third Party ) Cover

For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Three wheeler carrying Rs.5318/- +
7 to 17 passanger Rs.1061/-
per licensed
passenger
C.4 Guidelines for motorized two wheelers used for carrying passengers for hire or
reward ( Two Wheeler Taxi ) Premium Rates For Own Damage Cover Rates - % On IDV
ZONE B ZONE A
Exceed Exceed
-ing -ing
Age of the vehicle Not Not
150c Exceeed- 150c
exceed exceed Exceeding
but not ing 350 but not
-ing 150 -ing 150 350 cc
exceed cc exceed
cc cc
-ing 350 -ing 350
cc cc
Not exceeding5 years 1.743 % 1.830 % 1.917 % 1.794 % 1.884 % 1.973 %
Exceeding 5 years 1.787 % 1.876 % 1.965 % 1.839 % 1.931 % 2.023 %
but not exceeding 10
years
Exceeding 10 years 1.830 % 1.922 % 2.013 % 1.884 % 1.978 % 2.072 %

For the Year 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Upto 350 Rs. 790/- +
CC Rs.532/- per licensed
passenger
Above 350 Rs. 2067/- +
CC Rs.532 per licensed
passenger
- 157 -
D. Guidelines For Miscellaneous And Special Type Of Vehicles
Premium Rates For Own Damage Cover (Rates - % On IDV)
AGE OF THE VEHICLE ZONE C ZONE B ZONE A
NOT EXCEEDING 5 YEARS 1.190 % 1.202 % 1.208 %
EXCEEDING 5 YEARS BUT 1.220 % 1.232 % 1.238 %
NOT EXCEEDING 7 YEARS
EXCEEDING 7 YEARS 1.250 % 1.262 % 1.268 %
Package policies issued to mobile unites like Mobile Cranes, Mechanical Navies, Shovels,
Grabs, Rippers and Excavators, Dragline Excavators, Mobile Drilling Rigs, Mobile Plant, can
be extended to cover damage to the unit by overturning during operational use as a tool of
trade at an additional rate of 0.5% of IDV of the vehicle subject to a minimum additional
premium of Rs.100/-.

Type of Vehicle / Rate 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
for year >
i) Pedestrian controlled 1148/-
Agricultural Tractors
upto 6 HP, Hearses and
Plane Loader
ii) Other Misc & 4892/-
Special type of
vehicles and Non
agricultural tractors
List Of Miscellaneous And Special Types Of Vehicles

(1)Ambulances, (2)Angle Dozers, (3)Anti Malarial Vans, (4)Breakdown Vehicles, (5)
Bulldozers, Bullgraders, (6)Cinema Film Recording And Publicity Vans, (7)Clark Tractor
Elevators, (8)Compressors, (9)Cranes, (10)Delivery Trucks Pedestrain Controlled, (11)
Dispensaries, (12)Dragline Excavators, (13)Drilling Rigs, (14)Dust Carts Water Carts
Road Sweeper And Tower Wagons Used For Overhead Mains Service, (15)Electric
Driven Goods Vehicles, (16)Excavators, (17)Fire Brigade And Salvage Corps Vehicle,
(18)Footpath Rollers, (19) Fork Lift Trucks, (20) Grabs, (21) Gritting Machines, (22)
Hearses, (23)Horse Boxes, (24)Lawn Mowers, (25)Ladder Carrier Carts, (26)Levellers,
(27)Letourna Dozers, (28)Mechanical Navvies, Shovels, Grabs And Excavators, (29)
Military Tea Vans, (30)Mobile Plant, (31)Mobile Shops And Canteens, (32)Mobile
Surgeries And Dispensaries, (33)Plane Loaders And Other Vehicles. (34)Prison Vans
(35)Rippers (36)Road Rollers (37)Road Scrapping, Surfacing And Pre-Mix Laying
Equipment (38)Road Sweepers (39)Road Sprinklers Used Also As Fire Fighting Vehicles
(40)Scrapers, (41)Scientific Vans. (42)Sheep Foot Tamping Roller. (43)Shovels, (44)Site
Clearing And Levelling Plant, (45)Spraying Plant, (46)Tar Sprayers (Self Propelled), (47)
Tower Wagons (48)Trial Builders, Tree Dozers.
Of the above list, following seven ( 7 ) types of Class D vehicles from the above list were
placed under Goods Carrying Vehicle (Class 4 ) as per IRDA guidelines dated 29 March
2012, w.e.f. 1st April 2012.
- 158 -
Tractors – I.E. Electric Trolleys Or Tractors, Traction Engines Tractors, Trolleys And Goods
Carrying Tractors),Dumper, Milk Vans (Insulated),Oil And Petrol Transport Vehicles,
Refrigeration/Pre-Cooling Unit, Tankers, Tippers
E. Guidelines for Motor Trade -- Road Transit Risks Only –

Policies may be issued in respect of any type of motor trade vehicle traveling under its own
power at the following rates of premium. It is permissible to issue either separate Policies
or Declaration Policies in respect of such risks.
Distance Rates of premium
Not Exceeding 120 Kms 0.25%
Exceeding 120 Kms but not exceeding 400 Kms 0.30%
Exceeding 3600 Kms 1.00%
Trailer
Policies issued as above may be extended to cover trailers at the following rates of premium
subject to such trailers and towing vehicles being insured on identical terms.
Rates of premium for ‘Own Damage’ cover
a) Towing of not more than two Trailers at 25% of the rates of premium shown in the
a time (irrespective of number of Trailers above Schedule
insured)
b) Towing of 3 or more Trailers at a time Application to be made toH.O..
(irrespective of number of Trailers insured)

Rate for year > 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Distance not exceeding 1088/-
2400 Kms
Distance exceeding 1308/-
2400 Kms
Trailer
“Liability Only’ Premium: 25% of the ‘Liability Only’ premium shown above.
Guidelines For Motor Trade -- Road Risks Only –

Policies may be issued to Motor Trade on a named Driver or Trade Certificate basis. Any
vehicle used for hire (other than private hire) is to be specifically insured under a Commercial
Vehicles Policy at the appropriate rate.
- 159 -
Named Driver or Trade Certificates Own Damage Premium for Covering
Losses upto Rs. 25,000/-
1st Named Driver or Certificate 0.45% on IDV of the vehicle
For additional Drivers / Certificates upto 5 Rs. 175/- per Driver/ Certificate
For additional Drivers / Certificates > 5 but
Rs. 120/- per Driver/ Certificate
not >10
For additional Drivers / Certificates > 10 but
Rs. 85/- per Driver/ Certificate
not >15
For additional Driver / Certificate exceeding
Rs. 70/- per Driver or Trade Certificate
15
NOTE: If the limit in respect of loss or damage to the vehicles is to exceed Rs.25,000/-,
Own Damage premium is to be increased by an additional premium for each Named Driver
or Trade Certificate at the rate of 1% on such excess value.

Liability Premium (Per Driver/Certificate)
Rate for year > 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
1st Named Driver or
Rs. 1108/-
Certificate
For additional Drivers /
Rs. 536/-
Certificates upto 5
For additional Drivers
/ Certificates > 5 but Rs. 345/-
not >10
For additional Drivers /
Certificates > 10 but Rs. 299/-
not >15
Guideline OD premium for losses upto

Named Driver or Trade Certificates
Rs. 7500/-
1st Named Driver or Certificate 0.45% on IDV of the vehicle
For each Additional Driver or Certificate Rs. 85/- per driver
If the limit in respect of loss or damage to vehicles is to exceed Rs. 7500/-, Own Damage
premium is to be increased by an additional premium at the rate of 1% on such excess
value for each Named Driver or Trade Certificate.
PREMIUM RATES FOR LIABILITY ( THIRD PARTY ) COVER

Rate for year > 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
1st Named Driver or
Rs. 530/-
Certificate
For each Additional
Rs. 264/-
Driver or Certificate
- 160 -
Note: Separate Policies are to be effected in respect of risks rated on a Named Driver or
Trade Certificate basis. It is, however, permissible to issue a combined Policy providing
cover for both Trade Certificates and Named Drivers in those cases where a firm deals in
both registered and unregistered vehicles and where the authorities have held that Trade
Certificates cannot be used for registered vehicles. In such cases, the Named Driver basis
of rating is to be applied subject to the condition that if the number of drivers on which such
policies are rated is less than the number of Trade Certificates held by the Motor Dealer the
premium shall be calculated on the maximum number of Certificates held. Further “driver” in
the Policy Schedule should be restricted to Named Driver i.e., when an unregistered vehicle
is to be driven under a Trade Certificate noted in the Schedule, a Named Driver shall drive it.
Guidelines For Motor Trade -- Internal Risks Only

Risks of Motor Manufacturers and Motor Assembly Factories and risks comprising solely
Motor Body Builders and Petrol Filling Stations are not subject to this guidelines
The indemnity provided under this section is as under:-
Liability Only Package Policy
COVER
Amount of Indemnity
Bodily Injury Unlimited Unlimited
Property Damage excluding Rs. 1.5 lakhs for any one Rs.1.5 lakhs for any one
Damage to Vehicles accident accident
Damage to Vehicles ( TP ) Not applicable Rs.1.5 lakhs for any one
accident
Damage to own vehicles Not applicable Rs. 50,000/- any one
accident
Rates applicable for superficial area occupied by the insured for the purpose of Motor
Trade business not exceeding 2000 sq. meters.
Premium for Package policies : 0.28% on wages + Rs.150/-
Premium for Liability Only policies : 0.28% on wages
NOTE: For superficial area exceeding 2000 sq. mtrs., additional premium of Rs.15/-and
Rs.8/- is chargeable on the Package premium and Liability Only premium respectively for
every 1000 sq.mtr or part thereof.
- 161 -
National Insurance Company Limited
Divisional Office / Branch Office / BC :________________

Pre-Acceptance Inspection Report (Motor)
Name of the Registered Owner
Two Wheeler / Car / Taxi / GCV / PCV /
Type of Vehicle
Misc.
Vehicle Registration No.
( To be verified with RC Book )
Chassis No. / Engine No.
( To be verified with RC Book )
Type of Body Sedan / Stn.Wagon / Open / Close / Other,
Make / Model
Year of Manufacture
Well maintained / Scratched painting /
Front Show Condition
Dents at few places
Head lights / Indicator lights
Bumper / Mudguards
Name of the Carrier ( If any)
Front Windshield Glass
Front Show Color
Bonnet
Fenders
Color of Vehicle (Two Wheeler / Car )
Cabin Structure - Single / Double
Roof Top / Hoods
Body Colour
Emblem / Symbol / Slogan Embedded in
Yes / No
the body
General Under Chassis Condition
Any other mechanical defect found
General Condition of Tyres
FrontTyres ( New / Half worn-out / Bald )
Rear Tyres ( New / Half worn-out / Bald )
Any other observation
- 162 -
The vehicle was inspected and found in roadworthy condition.
Approximate value of the Vehicle: Rs. _______________
Declaration Of The Owner
The Motor vehicle proposed for insurance after a break in cover has not met with any
accident giving rise to any claim by a Third Party for injury or death caused to any person
or damages to any property / insured vehicle during the period following the expiry of
the previous insurance policy, till the moment it is proposed for insurance & it is in
roadworthy condition.
Signature of Registered Owner Signature of Inspecting Official

Name and Designation
Date :
Place :
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NCB DECLARATION FORMAT
To
Divisional / Branch Manager,

National Insurance Company Limited
___________________________
___________________________
Dear Sir / Madam,
Re: Previous policy no. : __________________________________________
No Claim Bonus Entitled: ____________
I / We declare that the rate of NCB claimed by me / us is correct and that no claim has arisen
in the expiring policy period (copy of the previous policy enclosed). I / We further undertake
that if this declaration is found to be incorrect, all benefits under the policy in respect of
Section I of the Policy will stand forfeited.
Thanking you,
Yours truly,
Signature of proposer
Place:
Date :
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FAQs
1) What are the important things one should bear in mind while insuring the vehicle?
a. Obtain duly filled in and signed proposal form from proposer. Value for additional
accessories / fittings need to be separately mentioned. Proposal Form is very important
document and is basis of contract of insurance and required for calculating correct
premium and decides the admissibility of claim. Incomplete or incorrect information
may result in denying claim.
b. Ensure that name of the owner in registration book and insurance policy should always
be the same. Otherwise the claim is not payable. In case of transfer of ownership
of vehicle, same has to be endorsed in package policy within 14 days from date
of transfer of registration failing which Own Damage cover expires and no claim for
damage to the vehicle is admissible under Sec. I of policy.
c. Ensure that all vehicle details are correctly recorded in the policy schedule. Make
sure that every digit of vehicle registration number; engine and chassis numbers
etc. are correctly entered. Any error should be immediately got corrected by way of
endorsement as otherwise it would create trouble or result delay at the time of claim.
d. Any material alteration like installation of additional accessories / CNG or LPG kit etc.,
during the policy period should be informed to insurance company immediately and
need be incorporated in the policy by endorsement by payment of additional premium
if any.
e. Ensure that correct policy terms, conditions are attached with policy schedule.
2) What is a Cover Note?

A cover note is an interim cover of insurance issued by the Insurer before the issuance
of a policy, after the Insured has given a duly filled in proposal form and has paid the
premium in full. A cover note is valid for a period of 60 days from the date of issue of
the cover note and the Insurer shall issue the Certificate of Insurance before the cover
note expires. No Cover Note shall be issued in the case of vehicles needing renewal
irrespective of whether it is our renewals or transferred business.
3) Can one increase / decrease his vehicle’s Insured’s Declared Value (IDV)?
IDV can be increased / decreased only at the time of renewal of policy. Any revision
required has to be communicated in writing and on production of documents as the
reason for revision.
4) What kinds of Motor Policies are available?

The basic insurance covers offered are as under:

Liability Only Policy: covering the liabilities towards third parties only, as per Motor
Vehicles Act. This insurance is mandatory for a vehicle plying in public place as per
Motor Vehicles Act.
Package Policy: In addition to the above, the loss or damage to the vehicle insured,
by specified perils, is also covered subject to the value declared and other terms and
conditions in the policy.
5) What is “NO CLAIM BONUS”?

No claim bonus is a special discount given for every claim-free year. As per the
schedule of tariff, NCB can be earned in the Own Damage section of Policies covering
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all classes of vehicles but not on Motor Trade Policies (Road Transit Risks / Road Risks
/ Internal Risks) and policies that cover only Fire and / or Theft Risks.
6) Is “No Claim” Bonus transferable in case of change of insurance company at

renewal?
Yes, in case one is changing insurance company having earned some NCB from
previous insurer, then one can get the benefits for his NCB with new company too.
The discount rate remains the same; provided one shows evidence that he is entitled to
No Claim Bonus from his previous motor insurance company. Evidence can be in the
form of a renewal notice or a letter confirming the NCB entitlement from the previous
insurer.
7) In the event of claim when one should report to the police?

Incidents such as “Third Party Property Damage”, “Bodily Injury to Self or Third Party”
or “Theft and similar incidence” should be reported to the nearest police station, under
whose jurisdiction the incident has occurred.
8) What will be the premium for Vehicle?

Premium depends upon various factors viz. type, make, model, cubic capacity, usage,
place of registration, past claims history etc. of the vehicle. Therefore approach
insurance company with vehicle details for exact premium.
9) When should one renew the insurance for his Vehicle & why?
It is strongly recommended to renew one’s insurance before expiry of the existing
insurance. This keeps vehicle insured against the risks without any break and takes
care of any loss within the ambit of the policy one has. This also retains the No Claim
Bonus– the hard earned discount in premium for claim free year/s.
10) In case previous policy has already expired- Then what to do?
If the policy has already been expired, a fresh insurance can be obtained. Since a break
in insurance has occurred, the vehicle will be physically inspected by a company official
or by an authorized representative/agency/surveyor at your cost. The entitlement of No
Claim Bonus will be as per rules.
11) Can one transfer his insurance to the purchaser of his vehicle?
Yes, the insurance can be transferred to the buyer of the vehicle, provided the seller
gives his consent in writing to the insurance company and the purchaser makes a
request in writing for the transfer of the policy. A fresh proposal form needs to be filled
in by the purchaser. There is a nominal fee charged for transfer of insurance. Please
contact the concerned insurance office for guidance.
12) Is it ok if the insurance continues in the name of the previous owner whereas the
vehicle is transferred in RTO records in present owner’s name?
Never commit this mistake. Remember, registration and insurance of the vehicle
should always be in the same name with same address. Otherwise the claim is not
payable. A fresh proposal form needs to be filled in. There is a nominal fee charged for
Transfer of insurance. Please contact the concerned insurance office for guidance and
terms and conditions.
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13) Are there a free Look-in /look-in period available?
No.
14) Can Add-ons be selected individually as per requirement?

Yes.
15) Whom should I contact if my vehicle suffers a loss in a city other than the policy
issuing city ?
If the vehicle meets with an accident in the city of policy issuing office, the claim has
to be intimated invariably to the same office. If it takes place in a different city, then
approach the nearest company’s office for guiding you to the office designated for
entertaining outstation claims. Meanwhile, also inform the policy issuing office. Visit
our website for nearest NIC office address and contact no.
16) Will my vehicles value get depreciated even though I got covered for Nil Depreciation
cover?
IDV of the vehicle is depreciated as per depreciation scale according to the age of the
vehicle mentioned in the Policy. This is the value for which vehicle is insured. This
value is protected for entire period of policy in case of total loss settlement.
Nil Depreciation cover, on the other hand, refers to the depreciation applicable on
damaged parts replaced by new parts. So, IDV will get depreciated as per the schedule
given despite Nil Depreciation cover.
17) Can I choose only Nil Depreciation cover?

Yes. In such case cost of parts to be replaced would be reimbursed fully with no
deduction made towards depreciation.
18) What is GVW of a Vehicle ?

GVW means Gross Vehicle Weight of any vehicle. This includes empty vehicle’s weight
plus carrying capacity ( i.e. laden weight). So GVW = Empty Weight + Laden Weight
(or Carrying Capacity)
DO’s
• Always maintain a latest price list of all the popular models.
• You can insure unregistered vehicle only in case of a brand new vehicle. Advice your
insured for immediate registration of the same within the prescribed time limits. Explain
to him how a delay and deferring registration can pose a problem for any unfortunate
claim.
• Educate the Policyholder about the complication that may arise at the time of claim if
the vehicle is not registered within the stipulated time limit.
• If there are any extra fittings added subsequently after purchase of a vehicle , always
ascertain the make , serial number and price of the same before taking it into account
in the IDV
• Explain clearly to a customer the nature and purpose of NCB and Deductibles. At the
same time explain the extra benefits available under each policy and exclusions.
• In case of LPG / CNG Kit fitted in a vehicle after purchase, please check whether these
fitting are recorded in the RC about the conversion and finally the price for the kit.
• Educate your clients regarding timely intimation of claims without any loss of time.
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Faster claim intimation means faster claim processing and finally a faster claim
settlement. Unjustified Delay in intimation can create complication in claims and
sometimes claims may even be denied.
• Clients should be advised not to lodge small claim as the subsequent loss of NCB
could be equal to or more than the small claim amount.
• In case of Break-in-Insurance, ensure that the vehicle is inspected before granting the
cover by an Agency/Official as per the current guidelines.
• Educate the policyholder about the importance of filling up the proposal form in his
own underwriting and without leaving any columns blank as the proposal is the basis
of Policy Issued.
• Educate your policyholder to renew their Motor Insurance policy in advance. This
way the continuity of benefits offered by the Insurance Policy will be available to him
without break and the cost of payment of fee to the inspecting agency can also be
avoided.
• Personally Inspecting a motor vehicle proposed for Insurance with change of Insurer,
sudden increase in IDV, change of cover from Liability only to Package, change of
ownership etc is necessary.
• Where NCB is allowed without supporting Documentary Evidence please ensure that
the proposal form is completely filled by the Proposer giving details of the previous
policy and specifically confirming the entitlement of the NCB at appropriate place in the
proposal form. Also immediately send letter to previous insurer for NCB confirmation
quoting previous policy details.
DON’Ts
• Never issue Cover Notes for old vehicles and for renewal of policies.
• Never use Cover Notes without mentioning the details of Registration Number, Engine
and Chasis Numbers in case of a brand new vehicle insured without Registration
No./Temporary Reg No. Advise the policy holder to inform the registration number
immediately after the Vehicle. is registered.
• Do not accept any proposal for vehicles registered in other states.
• Do not accept outstation cheques towards payment of premium.
• Do not accept third party cheques towards payment of premium.
• In case of a dishonour of a premium cheque, the policy issued stands cancelled since
inception. Issuance of a fresh Insurance in such cases should be done only after
re-inspection of Vehicle and by collecting premium in Cash / DD / Pay Order / ECS.
Payment of premium by cheque in such cases should not be accepted at all.
In case of used / old imported vehicles the following points are important from the
angle of underwriting:
o Verify the price of the vehicle.
o If spare parts are available in India
o If repair facility is available in India.
o Vehicle to be inspected by a competent surveyor to confirm the road worthiness
and for fixation of IDV which is to be negotiated.
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Documents To Be Submitted For Motor OD Claims
A) Documents required for Own Damage (OD) Partial Loss Claims -

Documents required at the beginning for surveyor appointment -
Claim Intimation letter - immediately after accident
Current Policy Copy
Duly filled in Motor Claim Form - signed by Insured (In case insured is other than
Individual, claim form has to be signed with Company Stamp / Seal)
Estimate for Repairs / Replacement / Painting Charges with garage address and
contact numbers
Copy of Driving License (DL) of driver at the time of accident
Copy of Registration Certificate (RC)
Additional documents required for Commercial Vehicles -

Spot survey report –Spot survey has to be arranged immediately after accident.
Permit ( Permit is valid for 5 years)
Authorization (for National Permit) – Authorisation is valid for one year and has to be
renewed yearly.
Certificate of Fitness – Valid for 2 years for new vehicles and then it has to be renewed
every year.
Tax Token / RTA Tax paid receipt
Load Challan – Invoice copy for goods carried & Lorry Receipt (LR) showing
consignment details.
Trip Sheet (For Passenger Carrying Vehicle) – Showing list of all passenger on board
Police Report (FIR) / Police Panchnama ( in case of death or injury in accident)
Additional documents for Commercial Vehicles carrying Hazardous Goods /

Chemicals -
Driver Training for handling hazardous goods - Certificate from Govt. authorized
Training Institute
Driving License with Hazardous Endorsement (valid for 1 year)
Permit / License to carry Hazardous / Uncontrolled goods
Note - All vehicle related documents and DL has to be verified by surveyor or

NIC official with their seal. Since commercial vehicle ply across India, it can be
verified at nearest NIC office.
Documents required after repairs to vehicle and at the time of settlement -
Original Bills / Tax Invoices for repairs –with sign and seal of garage
Bill / Receipt for Towing charges if any
Original payments receipts (with payment particulars) – with sign and seal of garage
For claims above Rs. 1 Lakh - Insured’s PAN Card, Aadhar card or any other address
proof
Insured bank a/c details – copy of cheque having insured name printed on it or Copy
of Bank pass book showing bank a/c details with insured name
Claim discharge vouchers for Claims payable above Rs. 1 lakh.
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B) Additional Documents for Total Loss / Constructive Total Loss Claim – Net of
Salvage basis –
At least three ( 3 ) Salvage offers for insured vehicle
Surrender Original Insurance policy with Certificate
NOC from Financer in case of Hypothecation.
Insured’s consent letter
C) Additional documents for Theft of Vehicle

a. First Information Report to police (FIR).
b. Written statement from driver of vehicle at the time of Theft
c. Final Police Report (Vehicle Non Traceable Certificate) Or Charge Sheet in case of
suspects identified / arrested
d. Acceptance of Final Police Report by the Court (Court A Summary)
e. Final Investigation Report of the Panel Investigator.
f. Original or copy of vehicle purchase invoice
g. Sets of Original Keys
h. Acknowledgement copy of letter to concerned RTO informing Theft of Vehicle
i. Acknowledgement copy of letter to financer in case of Hypothecation.
j. Original Registration Certificate (RC) with Theft Endorsement. In case original RC lost
with the vehicle, need to submit duplicate RC issued by RTO with Theft Endt.
k. MVT form from Police station
l. Theft intimation letter from Transport commissioner office to state RTOs
m. Proof from Police dept. updating Theft of vehicle to NCRB website. (Note: From
March 2016, NCRB has discontinued old practice of updating Motor Theft intimations
received from general public / investigators. Now only Police dept. will update such
data to NCRB)
n. NOC from the Financier if the loan is already re-paid.
In case vehicle remains untraceable and liability is admitted for Theft Claim,
following additional documents are required -
o. Letter of Indemnity & Subrogation on the prescribed format of the company.
p. RTO transfer forms No. 28, 29, 30 and in case of Hypothecation Form 35
q. Extract of online Status of the stolen Vehicle from NCRB website as on date of
settlement.
D) Documents for Compulsory Personal Accident (CPA) / Personal Accident (PA)

Claim under TP Section
a. Death Certificate
b. Post Mortem Report
c. Disability Certificate with Injury Report.
d. Details of Hospitalization with details of treatment.
e. First Information Report to Police (FIR) / Police Panchnama report
f. Police Final Report/ Charge Sheet.
g. Legal Heir Certificate/Succession Certificate.
h. Panel Investigator Report
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MOTOR THIRD PARTY (MACT) CLAIMS
Documents required in Motor Third Party claims where accident involve Third party
property damage (TPPD) / Third Party Injury or Death
For Motor accident involving TPPD / TP Injury / Death, names and addresses of the witnesses
at the time of accident and their statements.
Intimate the accident details to the Insurer.
Submit duly filled Claim form along with FIR, Charge-sheet, Vehicular documents viz. R.C.
Book, D.L., Permit, Fitness Certificate and Statement of Driver with his full name, address
proof and salary certificate.
In case of Commercial vehicles, also provide (a) Route permit (b) Badge and any vehicular
documents as listed above for OD Claims.
On receipt of Summons from MACT, forward the same to the Insurance Company with all
details of accident.
Do not make any direct payment to victims or their family since reimbursement of same is
not covered under Policy.
In case of any Hospitalization, all related documents with hospital bills / receipts to be
preserved for reimbursement and for producing the same before Court.
Insured and his driver has to extend full co-operation to Investigator, Advocate and Insurance
Company during Court trials.
Latest Developments In Motor Insurance

Insert full Engine No. / Chassis No. of the vehicle in Policy
Govt. has initiated move to have Motor policies in digital format which can be stored in
e depositories and RTO authorities will validate unique engine number and chassis no.
combination of the vehicle from data available at e VAHAN site. Insurance policies with
incomplete engine / chassis no. will not get validated and will be treated invalid. Hence in
future, at the time of issuing fresh policy or renewal from other insurers, ensure to obtain
legible copy of RC book and insert correct and full Engine No. and Chassis No. in the policy.
Appropriateness of IDV –
IDV should be the manufacturer’s listed selling price of the vehicle less depreciation (as per
age of the vehicle) at the time of commencement of vehicle.
In case of NIL Dep. and Invoice protect add on cover, it should be manufacturer’s listed
selling price of the vehicle at the time of commencement of vehicle.
To ensure uniform IDV calculation by all insurers, General Insurance Council will provide data
of Manufacturers selling price of all vehicles used in market in last 10 years and new data will
be updated every week. From 1st Jan 2018, IDV data will be integrated with the systems of
all insurers and it will ensure uniform IDV calculation at all insurers.
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MISCELLANEOUS INSURANCE
The risks which can not be covered under Fire & Marine fall under Miscellaneous (Accident)
categories.
This is again sub categorised to Motor , Aviation, Health, PA, Liability , Rural & Social sector
business & others
The Policies can be subdivided as under:
ALL RISKS INSURANCE
Cover: Loss or damage to the property insured due to fire, theft or any other accident or
misfortune . It covers loss or damage to the property by any means excluding the perils as
stated in the policy as exclusions.
Important Provisions:
1. Single Article Limit: Unless specifically and separately stated , the Company’s liability
in respect of each article or pairs of articles shall not exceed 5% of the total sum
insured under this policy.
2. Articles in Pairs Or Sets: where any item insured hereunder consists of articles in
pair or set, the Company’s liability in respect thereof shall not exceed the value of any
particular part or parts which may be lost or damaged without reference to any special
value which such article or articles may have as part of such pair or set nor more than
a proportionate part of the insured value of the pair or set.
The Policy condition requires the Insured to take all reasonable care for protection of
the property insured at all times.
Important Exclusions:
a. Due to breakage or scratching of crockery, china glass, marble, earthenware, sculpture,
curios, pictures, musical instruments, sports, gear and articles of a brittle or fragile
nature unless caused by fire.
b. Due to mechanical derangement of cameras, lenses, binoculars, typewriters or
wireless sets and the like.
c. Arising through delay, detention or confiscation by customs or other officials.
d. Loss or damage to Money, securities, cash or notes, travel tickets or coupons,
travellers cheques or letters of credit, bonds, securities or documents or documents
of any kind.
e. Damage due to cleaning, bleaching, renovation, etc arising from wear and tear, moth
vermin, insects, or any other gradually operating cause.
f. Over winding, denting internal damages to watches, clocks
g. Consequential Loss
h. War and allied perils, terrorism damages & Nuclear risks.
i. Applicable Excess.
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Underwriting Considerations:
• All Jewellery items and valuables proposed for insurance should be individually
described in the proposal form and the sum insured against each item should be
stated. No selection of risk/property should be allowed.
• If recent invoice or receipt is not available a valuation certificate at the cost of
the proposer should be obtained for Jewellery/ornaments/gold and silver articles
valued more than Rs.5000/-.
• The following details should be ascertained and duly verified by the underwriting
office.
a) Full description of jewellery.
b) No. of precious stones, amount of gold.
c) Type of ornament.
d) Valuation as made by reliable recognized jeweler.
• The client should be advised that the sum insured should not be regarded as the
agreed amount payable in the event of total loss. The amount payable under the policy
will be the intrinsic value, of the property lost or damaged, subject to the limit of sum
insured.
• For belongings other than jewellery, cover may be restricted to Fire and Theft only.
Rating Guideline:
• Rating will vary from 1% to 1.5%.
• Where Insured desires to cover valuables during travel and is required to travel
extensively, above premium must be sufficiently loaded.
• In case of jewellery in Bank Lockers, Premium rate may be reduced.
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BAGGAGE INSURANCE
Cover: Covers accompanied baggage (Clothing and personal effects normally taken on
holiday or other journey by an individual or a party) lost, destroyed or damaged by fire, Riot,
Strike, theft or accident anytime, whilst the insured is travelling on tour and/or on holiday
during the period of this insurance and within the limits/Sum Insured of the policy. (Checked
in baggage in the custody of the airline/carrier is not covered).
1. Single Article Limit: Unless specifically and separately stated, the Company’s liability
in respect of each article or pairs of articles shall not exceed 5% of the total sum
insured under this policy.
2. Articles in Pairs Or Sets: where any item insured hereunder consists of articles in
pair or set, the Company’s liability in respect thereof shall not exceed the value of any
particular part or parts which may be lost or damaged without reference to any special
value which such article or articles may have as part of such pair or set nor more than
a proportionate part of the insured value of the pair or set.
Main Exclusions:
• Damage caused by any process of cleaning, dyeing or bleaching, restoring, repairing
or renovation or deterioration arising from wear and tear, moth vermin, insects or
mildew or any other gradually operating cause.
• Breakage or scratching of crockery, China glass, marble, earthenware, sculpture,
curios, pictures, musical instruments, sports gear and or articles of brittle or fragile
nature unless caused by fire or accident to the means of conveyance.
• Mechanical or electrical breakdown unless caused by accidental external means.
• Any loss arising through delay or detention or confiscation by Customs or other
officials.
• Loss of cash or notes, travel tickets or coupons, travellers cheques or letter of
credit, bonds, securities or documents of any kind.
• Loose articles such as sticks etc. and articles worn on the person.
• Articles of consumable or perishable nature.
• War perils and nuclear risks.
• Theft from any car except fully enclosed and securely locked.
• Loss during Routine Travel
• Terrorism
Underwriting Considerations
a) Each item of jewellery, gold ornaments etc is to be specifically declared for insurance
and a valuation certificate should be obtained for items valued at more than Rs 5000.
b) Where the total value of jewellery, ornaments etc is in excess of 50% of the total value
of risk, an additional premium to be charged on the value of such items.
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Premium Rate:
a) The undernoted rates are to be taken as guide rates.
For period of Journey Journey
Not exceeding Within India Outside India
1 month 0.3% 0.375%
2 months 0.6% 0.750%
3 months 0.9% 1.125%
4 months 1.2% 1.500%
6 months 1.5% 1.875%
9 months 1.8% 2.250%
12 months 2.0% 2.500%
c) For higher SI on jewellery etc Additional premium @50%of the appropriate rate on the
value of the jewellery in excess of 50% of Total Value.
Claim Information
In case of claim, a notice should be given to the Airline or shipping company or Railway
authorities if the claim is for loss in transit and to hotel etc in other cases if applicable.
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BANKER’S INDEMNITY INSURANCE
The policy is a blend of various sections of coverage that protect the banks from loss of
money and/or securities on premises and in transit due to various perils. It also provides
for cover against financial loss arising from forgery, fraud and dishonesty. The product is
a blanket one with the client having the choice of selecting higher limits of insurance under
‘A-On Premises’ and ‘B-In Transit’ sections.
Scope Of Cover :
This insurance policy provides indemnity to insured against loss of money, valuables and
goods held in trust by fire and special perils including burglary, theft , robbery or hold up
whilst on premises and in transit and/or direct financial loss including loss of goods caused
by fraud or dishonesty of employees /approved agents.
Direct loss of money and/or securities as detailed below section wise:

Sec Description of risk Description of Cover
A On Premises Loss of money and/or securities (for which the insured
is responsible) from the insured’s premises, mobile offices,
other banks’ premises due to fire, riot & strike,
burglary, housebreaking, theft, robbery, hold up
B In Transit Money and/or securities being lost, stolen,

mislaid, misappropriated, made away with due to negligence
or fraud of the employees of the insured while in transit which
commences from the moment the money is received by
the employee and continues until delivery
C Forgery Or The payment made in respect of bogus, fictitious, forged or

Alteration raised cheques or drafts; genuine cheques, (excluding bills
of discounts and other credit facilities), travellers cheques,
drafts or fixed deposit receipts bearing forged endorsements
D Dishonesty Dishonest or criminal act of the insured’s employee with

respect to loss of monies or securities wherever committed
and whether singly or in connivance with others
E Hypothecated Fraud and/or dishonesty of the insured’s employees in respect
Goods of any goods and/or commodities pledged or hypothecated to
the insured and under insured’s control
F Registered Postal Robbery, theft or by other causes not excluded while in direct
Sending transit by registered insured post from the insured’s office to
the consignee provided such parcel is insured with post office
Insurer’s liability for any one consignment for a value = 10%
of basic SI or Rs. 1,00,000/- whichever is less
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G Appraisers Infidelity/criminal acts on the part of appraisers (who are on
the approved list of insured bank) Insurer’s liability in respect
of each appraiser: 5% of the basic SI or Rs. 50,000/- which
ever is less
H Janata Agents Infidelity/criminal act on the part of Janata agent/ Chhoti
BachatYojana agents/ Pygmy collectors etc. who are regular
part time agents of the insured bank. Insurer’s liability in respect
of each agent: 5% of basic SI or Rs. 20,000/- whichever is less
Indemnity Amount
The indemnity granted under this policy in respect of such direct losses will not exceed
a) The sum insured In respect of any casualty or event
b) Twice the Sum Insured hereby in respect of all losses in any one period of insurance.
Determination Of Sum Insured

Basic Sum Insured:
• Liability of the insurer for losses arising under Sections A to E (Floater)
Additional Sum Insured:

• The insured can opt for additional covers under Section A and B- Premises and transit
respectively
Separate sum insured for ATM coverage

• Terrorism risk cover : Basic SI + additional SI opted for Section A (Total Premises
cover)
• Flood, Inundation & Earthquake etc: Basic SI + additional SI for Section A (Total
Premises cover)
Underwriting Guidelines
All Banker’s Indemnity proposals new and renewals have to be referred to Head Office for
approval along with Proposal form duly completed.
Approvals should be sought at least 15 days in advance from HO.
Rating/Pricing
Different Basic rates have been charged for each category. Even the staff loading pattern has
been fixed for each category separately. The total premium is based on the following:
i) Rate to be applied on Basic SI : 6% Maximum
ii) Rate for Additional Limit under Section A: 1%
iii) Rate for Additional Limit under Section B: 1%
iv) Staff Loading: Existing no as on commencement of the year +
5% thereof for normal increase in staff (Table as below)
Basic Sum Insured Premium Rate per employee
Basic S.I. Upto 2.00 lakhs Rs. 10 /-
Basic S.I. 2.00 – 5.00 lakhs Additional Rs.1.25 for each lakh or part
Basic S.I. 5.00 –10.00 lakhs Additional Rs.0.60 for each lakh or part
Basic S.I. Above 10.00 lakhs Additional Rs.0.25 for each lakh or part
Total Premium = (i)+ (ii)+ (iii)+ (iv) above
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Discount – Where the number of branches is 500 or less :
No. of
1 to 50 51 - 100 101 - 250 251 - 500 Above 500
Branches
Discount (%) 20 15 10 5 Nil
Extensions/Add Cover:
• Flood Cover - 0.5 % on Basic SI plus additional SI for Section A
• ATM Extension - 3.00 % on Overall Basic Sum Insured
• Terrorism - As per pool
Excess :
• Section A to E - 25 % of each and every loss or 2 % of the Basic Sum Insured
whichever is higher, subject to maximum of Rs. 50,000/-
• Section F, G & H - 25 % of each and every loss
• Each loss in respect of each dishonest or criminal act is to be treated as a separate
loss
• Excess will not apply to loss and/or damage arising from fire, riot & strike, burglary and
housebreaking
Excess Note: it is not permissible to waive or reduce the deductibles even by charging
extra premium
(i) Earthquake, Volcanic Eruption, Flood, (not applicable to Mobile office), War and
Terrorism.
(ii) Losses resulting wholly or partially from the wrongful act or default of any directors or
partners of the insured other than salaried.
(iii) Losses of money and/or securities and/or personal property confined to the care of
the insured normal value and description of which have not been ascertained by the
insured before loss.
(iv) loss, destruction of or damage to any property whatsoever resulting or arising
therefrom or any consequential loss.
(v) Losses attributable directly or indirectly to a manipulation or faulty computer or other
EDP Programme and/or any fraudulent use of the computer or other EDP programme
by the employee or outsiders irrespective of whether the computer or EDP system
belongs to the insured or it is shared by the insured with others on service contract
basis or otherwise.
Warranties
Warranty on money holding capacity of the Operating offices/Branches of Bank under
coverage A (premises) shall be limited to the limits set in the standard operating procedures
of the bank.
Warranty on security arrangement whilst in transit by the operating offices/branches of

Bank under coverage B (Transit Coverage). Insurers shall be liable for the loss of money
under coverage B (Transit) if and only if all the standard operating procedures of security
arrangement for carrying money/cash of the Bank has been complied.
Reinstatement:
At all times during the period of insurance of this policy the insurance cover will be maintained
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to the full extent of the respective sum insured, in consideration of which, upon the settlement
of any loss under this policy, prorata premium at the BASIC RATE for the unexpired period
for the amount of such loss paid (not exceeding the respective sum insured) shall be
payable by the insured to the company.
The additional premium referred to above shall be deducted from the net claim amount
payable under the policy.
Provided that the liability of the company will be limited to TWICE the respective sum insured
during the entire period of the policy in respect of any loss or losses caused by acts and/or
omission of any persons.
Retroactive Period Of Cover: 2 years
Discovery Period in case of cancellation/non-renewal- 6 months from policy expiry
Losses which become payable under this clause shall be subject to the terms, conditions,
exceptions of the policy currently in force on the date of discovery. This policy shall not
contribute for discovery period losses in case of the existence of another policy in force for
the concurrent period.
Valuation Of Securities:
Average market price or value on the date of discovery of such loss
Valuation Of Jewellery/Ornaments:
The 100% (hundred percent) value as recorded in the register of the bank at the time of
pledging jewellery or ornaments.
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BURGLARY (BUSINESS PREMISES) INSURANCE
Scope Of Cover:
This insurance policy provides cover against loss or damage by burglary or house breaking
(ie theft following an actual forcible and violent entry of and/or exit from the premises) in
respect of contents of offices, warehouses, shops etc and cash in safe or strong room and
also damage caused to the premises.
Important Exclusions
The policy does not cover loss or damage arising from –
1. Due to pilferage, shoplifting, larceny nor does it cover loss or damage in which any
member of the insured’s staff is concerned as principal or accessory, or resulting
from any act committed by any other person lawfully on the premises.
2. Inventory Loss
3. War and Warlike operation, Riot Strikes, Civil Commotion, Terrorist activities,
Convulsions of nature and /or Consequential loss
4. By use of the keys to safe unless obtained by force or threat caused by insured
employees or members of the family.
However, on payment of additional premium cover can be extended to include Riot,
Strike and Terrorism.
Special Conditions
1. Reinstatement of Sum Insured:
Immediately upon the happening of any loss or damage as described in the policy,
the total sum insured and the sum insured upon the various descriptions of property
which have been lost or damaged shall be reduced by the amount of loss or damage
and such reduced sums insured shall be the limit of the Company’s liability in respect
of any further loss or damage occurring during the current period of insurance unless
the company consents upon payment of additional premium to reinstate the full sum
insured.
2. Maintenance of Books & Keys:

The insured shall keep a daily record of the amount of cash contained in the safe or
strong room and such record shall be deposited in a secure place other than the safe
or strong room and produced as documentary evidence in support of a claim under
this policy.
The keys of the safe or strong room shall not be left on the premises out of business
hours unless the premises are occupied by the insured or any other authorized
employee of the insured in which case such keys if left on the premises shall be
deposited in a secured place not in the vicinity of the safe or strong room.
Underwriting Guidelines :
• Pre-acceptance physical survey for proposal where sum insured exceeds Rs. 50
Lakhs in one location and where proposal elicits adverse/unsatisfactory features. Risk
accepted subject to rectification of unsatisfactory features.
• Theft extension cover to be approved by R.O : Survey of premises to be done.
• “Safe” would mean standard safe, i.e. made by a reputed company (Safe- does not
mean cash box or locker in steel almirah).
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Note:
(1) Silent risks for Burglary (Business premises) should not be underwritten without
inspection report.
(2) Burglary Policy should not be underwritten on First Loss and Floater combined.
Undesired/Declined Risk :
1. Closed factories or Godowns deserted without any security.
2. Proposals from Furriers, Jewellers, Watch-makers and dealers, Gold and Silver smiths,
Dealers in Precious Stones, Curios and Antiques, Money lenders and Pawnbrokers.
3. Goods lying in open to be covered very selectively subject to security aspects like
fencing and 24 hours armed guard posting being satisfactory. Such covers to be
considered only by R.O.
Full Value Insurance:

The Policy contains the usual ‘Average Clause’ and as a rule all insurance must be effected
for the full value of the property to be insured. The insured should therefore be asked to
declare for insurance what he considers to be the highest amount at risk at any one time.
Declaration Policies:
These policies may be considered where large stocks which fluctuate considerably during
the year are involved and they are issued on the same lines as Fire declaration Policies.
First Loss Insurance:

• Large warehouses and stores where the value of stock is considerable and of bulky
nature rendering a full loss very unlikely, a First Loss policy may be given.
• No “First Loss ” policy may be issued for less than 10% of the total value of the
property to be insured, without the permission of the Controlling Office.
• Premium to be calculated at the normal rate on the total value at risk and applicable
discount to be granted.
Rating
Details Rate
Cash and / or valuables in Locked Deposit vaults/Strong room of Banks 0.125%
and safe deposits
Cash and / or Valuables in locked Standard Burglary resisting safes other 0.30%
than above
Cash in Locked Cash Box in Locked Cupboard not exceeding Rs. 2500/- 0.50%
Heavy stock (like machinery) and Other bulky goods 0.20% to 0.35%
Curios, Liquor, Metals, Motor Vehicle parts, Pens, Photographic suppliers 0.50% to 0.75%
and studios, Ready made Garments, Radios & T.V sets and the like
including articles of High value in small size
Notes:
1. Where security arrangements like own Watchmen are available on 24 hour basis, the
rate may be scaled down by 10%.
2. The above rates are for First Class risks only.
3. Suitable increase in the rate upto 50% may be made in other cases e.g.
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a) Buildings of inferior construction.
b) Risks in secluded areas
c) Risks in interior places
d) Locality prone to Burglary and / or in cases of previous claims history.
R.S.M.D. Cover : Additional Premium of 20% of Basic Premium.

• Terrorism Optional at additional premium.
• Apprehensive Period:During an apprehensive period no freshcover against Riot &
Strike Risks should be provided without prior approval of the controlling office.
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FIDELITY GUARANTEE INSURANCE
Salient Features:
This policy indemnifies employers against financial loss on account of forgery, defalcation,
embezzlement and fraudulent conversion by employees. The object is to provide protection
in respect of the default of an individual acting in some financial capacity such as Cashier,
Accountant, Store-Keeper etc.
Indemnifies the insured against any direct pecuniary loss sustained by reason of any act of
fraud/dishonesty committed by the employee
• on or after the date of commencement of this policy and
• during the employee’s uninterrupted service with the insured and
• discovered during the continuance of this policy or within twelve calendar months of
the expiration thereof and
• in the case of death, dismissal or retirement of the employee
• within twelve calendar months of such death, dismissal or retirement
• whichever of these events shall first happen.
Scope Of Cover:
• The cover may be required in respect of a single employee or a number of employees.
• There are 3 types of policies normally issued for this class of business viz. ‘Individual
Policy’, ‘Collective Policy’ and ‘Floating Policy’.
Principal Types of Commercial Fidelity Guarantees :

1. Individual Policy : The policy covers one individual only for a stated amount.
2. Collective Policy : A schedule is included in the policy. The insured decides the amount
of guarantee required for each individual according to his or her responsibilities and
position.
3. Floater Policy : A single amount is shown in the policy which represents the Company’s
liability in respect of any one individual and its total liability in respect of all the
employees guaranteed who are individually named in the schedule.
Such policies can be granted where the number of persons to be guaranteed is not
less than five.
4. Blanket Policy: It is possible to issue in certain selected cases, blanket policies without
the names of the guaranteed persons being shown, in respect of all employees who
are grouped according to categories, e.g. employees handling cash, other clerical
staff, etc. they are issued only to large well established business houses conducted on
sound lines.
Fidelity Guarantee Policy should not be issued to the following:
Non Banking Financial Institution unless they are registered as per RBI norms and functioning
as per the Rules of RBI.
Policy should not be issued to cash carrying security agencies.
Undesired/Declined Risks:
Proposals from Jewellers’, Moneylenders, Pawnbrokers, Book makers, Travelling Salesmen
and commission agents, piece rate workmen, handling agent stockiest, in respect of persons
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where Master/Servant relation does not exist should not be accepted without reference to the
Controlling Office.
Rating
Rates vary from 0.50% to 1.50% per annum on the amount of guarantee, depending upon
the merits of each case. Following rates are indicated only as a guide.
For individual &/or Collective Policies

Types Rate %
a) Managers, Executives, Officers and Clerks 0.50
b) Accountants, Cashiers, Wage pay Clerks and Cash Clerks 0.75
c) Rent and Bill Collectors, Cash Messengers & Godown / Store keeper 1 to 1.50
In case of Collective Policies covering more than 10 persons for specific amounts in respect
of each individual, discount of 10% of the premium may be allowed.
Floater Policies
The basic rate varying between 0.50% to 1.25% on the amount of the guarantee plus a
rate varying from Rs. 5/- to Rs. 10/- per capita should be charged depending upon the
trade, nature of the duties, system of supervision, basis of remuneration and the amount of
guarantee.
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JEWELLERS’ BLOCK INSURANCE
A policy comprising four sections, the Jewellers Block, covering stocks and stocks in
trade, cash and currency notes, on premises, in transit and while in custody of employees/
directors/ partners/brokers /agents against various perils as below.
Policy can be issued to Retailers and wholesalers dealing in Jewellery/ ornaments;
Goldsmiths, Cutters, Diamontaires
Scope Of Cover:
Section I Covers - Stock in Trade (Jewellery, gold and silver ornaments or plate, pearls and
precious stones of any kind), cash, currency notes and/or other merchandise and materials
pertaining to the insured’s business against Loss of or damage to property while on the
premises by fire, explosion, lightning, burglary, housebreaking, theft, hold up, robbery, riot,
strike, malicious damage
Section II Covers – Stock in trade while carried or conveyed outsidethe premises by persons
for the purpose of the Insured’s business and property while in custody of employees/
directors/partners/brokers / agents against All Risks
Section III Covers - property (excluding currency) whilst it is in transit by Registered parcel
post (5% to 10% of Sec I SI); Air freight (full value to be declared) or through angadia (Max
10 Lakhs) against All Risks.
Section IV Covers - Loss of/damage to furniture, fixture, fittings, safe & trade equipments
due to fire, explosion, lightning, burglary, housebreaking, theft, hold up, robbery, riot, strike
and malicious damage whilst in the insured premises
• Where the rates to be quoted are lower than the guide rates such proposals to be
referred to the respective acceptance authority for approval.
• Inspection should be carried out to assess the risks
• Section I is compulsory. Insured can opt for the other three sections of the policy
• It is not permissible to issue separate Fire and Burglary Policies for the risks to be
covered and rated under Jewellers Block Insurance.
• Jewellers Block Insurance cannot be issued to Brokers, Agents and Cutters,
Manufacturers of jewellery.
• The policy can be issued covering more than one premises on different locations with
different limits under a single policy.
• The jewellery/ornaments displayed at a public exhibition can be covered under Sec II
of the Policy. On receipt of such request, it may be referred to Regional Office/Head
Office for seeking approval of rates and terms.
Note :
(1.) The Jewellers Block (JB) Policy should not be extended to cover Infidelity of the
employees.
(2.) Security aspect of JB policy including CCTV, Security guard and alarm system should
be in working conditions.
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(3.) While allowing discount on JB policies sufficient excess to be imposed on the cover.
Basis Of Valuation (Sum Insured) - Market Value of gold declared by RBI plus the making
charges limited to 10% of market value
For rating contact the BO/DO with duly completed Proposal Form with subsection wise Sum
Insured.
Important Exceptions:
a) Terrorism damages.
b) Stock kept out of the safe after Business hours and at night.
c) Window display at night is not covered
d) Accident arising due to carrying of illegal activity and or any kind of unlawful act. .Loss
or damage or liability arising out of violation of any Rules and Regulations of the Govt.
or Statutory authorities.
e) Loss or Damage whether direct or indirect occasioned by happening through or arising
from any consequence of war, Invasion, act of foreign enemy, hostilities (whether war
be declared or not) , Civil War, Rebellion, Revolution, Insurrection warlike operation ,
military or usurped power or Civil commotion or loot or pillage in connection therein.
f) Loss or damage caused by depreciation or wear and tear.
g) Loss or destruction of or damage to any property whatsoever or any loss or expenses
whatsoever resulting or arising therefrom or any consequential loss.
h) any legal liability whatsoever nature directly or indirectly caused by or contributed to
by or arising from ionizing radiations of or contamination by radio activity from any
nuclear fuel or from any nuclear waste or from combustion of nuclear fuel or from any
nuclear weapons, materials.
i) Applicable excess.
Important Warranties:
SECTION-I:
a) Warranted that all stocks whilst at the premises specified in the schedule shall be
secured in locked burglar proof safe at night and at all times out of business hours &
The keys of the premises and/or safe shall not be left on the premises out of business
hours
b) Class-I: premises is protected by employment of watchman/security guard, all the 24
hours of the day.
c) Class-II: The premises are fully protected by employment of a common watchman
for the whole building or a night watchman as the case may be at the premises of the
insured.
SECTION-II:
a) Warranted that if stock with any one person specified in section II of the schedule
exceeds Rs. 2 lacs , it shall be secured in a Burglar proof safe after business hours at
all times.
b) Warranted that the sum insured under this section II should not exceed the gross sum
insured under Section-I
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SECTION-III:
Warranted that property in transit by means other than described above is not covered.
Basis of Valuation: Warranted that the basis of valuation for property other than cash or
currency notes for this insurance in respect of sections I, II & III shall be the insured’s cost
plus ten percent thereof.
Rates
Section- I
Sum Insured Class-I Class-II Class-III
Upto INR 25 lakhs 0.255% 0.355% 0.505%
Above INR 25 lakhs upto 50 lakhs (on the excess 0.205% 0.305% 0.455%
over INR 25 lakhs)
Above INR 50 lakhs upto INR 75 lakhs (on excess 0.18% 0.28% 0.43%
over INR 50 lakhs)
On the excess over INR 75 lakhs 0.155% 0.255% 0.405%
Class- I : Watchman employed specially for the premises for 24 hours at all the listed
premises
Class- II : Common watchman or night watchman employed for the entire building
Class- III : All others including a common watchman for the whole locality
Terrorism Rate : As per GIC Pool Rate.

Special Discount of 10% or 15% may be allowed only in respect of those premises where
special protective devices or special security measures are adapted, e.g. built in vaults,
strong rooms, closed circuit T.V. systems, armed guard. In the event of the insured having
more than one of the protective devices or security measures a maximum of 15% discount
may be allowed in respect of such premises only which are eligible for the discount.
Controlling D.O is authorized to extend the cover to silver articles kept outside the safe
after business hours upto 15% of the S.I. under Section-I subject to a maximum of INR 1
crore, by charging an additional premium @ 0.05% provided it is satisfied that the security
arrangements after business hours is adequate and satisfactory.
It is warranted that all stock while at the premises specified in the schedule shall be secured
in locked Burglary-proof safe at night and at all times out of business hours.
Section- II – The rate will apply on the Total Sum Insured

a) On the first part of the aggregate of the individual limit under Section-II
upto 50% of Section-I Sum Insured : 0.305%
b) On the next 25% of the Section-I Sum Insured : 0.405%
c) On the next 25% of Section-I Sum Insured or balance whichever is less : 0.505%
Section-III - 1% on Aggregate Sum Insured under this section
Section –IV – On furniture/fixtures / fittings – 0.105% on the Sum Insured under the section
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MONEY INSURANCE
Indemnifies the insured against loss of money in transit by the insured or insured’s authorized
employees occasioned by Robbery, Theft or any other fortuitous cause. Further the company
shall also indemnify loss of money by Burglary, Housebreaking, Robbery or Holdup whilst
money is retained at insured’s premises in safe(s) or strong room,
Definitions
Money: Money shall mean and include cash, Bank Drafts, Currency Notes, Treasury Notes,
Cheques, Postal Orders and Current Postage Stamps.
Bank: Bank shall mean and include Bank of every description, Post Office, Government
Treasury.
Scope Of Cover :
Limit Of Any
Sections Risks Descriptions
One Loss
SECTION-1.A Money for payment of wages, salaries and other earnings To be chosen
or for petty cash in direct transit from the bank to the by the
insured’s premises from the time the cash is received at proposer
the bank by the insured or the authorized employee(s) of
the insured until delivered at the premises or other place
of disbursement and whilst there until paid out provided
that out of business hours such cash shall be secured
in locked safe or locked strongroom on the premises.
Cheques drawn by the insured to provide for such cash
are covered in transit from the premises to the bank
SECTION -1B Money other than described in A above in the personal To be chosen
custody of the insured or the authorized employee(s) of by the
the insured whilst in direct transit between the premises proposer
and the bank or post office.
SECTION- 1C Money other than described in A and B above collected by To be chosen
and in the personal custody of the insured or the authorized by the
employee(s) of the insured whilst in transit to the premises proposer
or bank within a period not exceeding 48 hours from the
time of collection
Estimated total amount of money in Transit per Annum To be chosen
by the
proposer
SECTION-II Cash(other than described in Section 1A above) whilst To be chosen
on the premises during business hours or whilst secured by the
in locked safe or locked strongroom on the insured’s proposer
premises out of business hours against the risk of
burglary, housebreaking and holdup.
UNDERWRITING GUIDELINES:
1. Insurance against Cash-in-safe only may be arranged under this policy. Physical
survey of the risk should be carried out if indemnity is provided only under Cash–in-
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safe, wherever feasible.
2. In special cases the policy can be extended to cover loss of cash from the counters
during working hours due to hold-up by anyone other than an employee of the insured.
3. The insurance can be extended
a) To include assault;
b) Infidelity risk of cash carrying messengers; and
c) The risks of Riot & Strike and
d) Terrorism, by charging additional premium.
4. The limit of liability for any one carrying, which is the maximum amount likely to be at
risk at any one time must be clearly mentioned in the policy.
5. The Limit of Liability for Money-in-Till (counter) must be mentioned separately.
6. For Cash-in-Safe section, cover should be taken for the highest amount to be kept
anytime in the safe/strong room during the currency of the policy.
7. The policy should indicate the estimated amount of money in transit during the period
of insurance. This is the amount on which the deposit premium is calculated initially at
a fixed rate but the premium is finally adjusted at the end of each year of insurance in
accordance with the actual amount in transit which must be correctly declared by the
Insured.
Note: - Money policy should not be issued to following

i) Non Banking Financial Institution unless they are registered as per RBI norms and
functioning as per the Rules of RBI.
ii) Policy should not be issued to cash carrying security agencies.
1. Shortage due to errors or omissions.
2. Loss of money entrusted to any person other than the insured or an authorized
employee of the insured.
3. Loss of money where the insured or his employee is involved as principal or accessory,
except loss due to fraud or dishonesty of the cash carrying employee of the insured
occurring whilst in transit and discovered within 48 hours.
4. Loss occurring on the premises after business hours unless the money is in locked
safe or strong-room.
5. Loss occasioned by Riot, Strike and Terrorist Activity.
6. Money carried under contract of affreightment and theft of money from unattended
vehicle.
7. Loss of money from safe or strong-room following use of the key to the safe or strong-
room or any duplicate thereof belonging to the insured, unless this has been obtained
by threat or by violence.
8. War & Terrorism and nuclear risks.
Declined Risks:
Proposals from Jewellers, Moneylenders, pawnbrokers and the like should not be considered
without reference to the controlling office.
Rating:
A) Money-In-Transit
i. The rates vary between 0.15%o and 0.6%o depending upon the distance of the journey,
mode of carrying, precautions taken, the maximum amount at risk at any one time and
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the estimated annual carrying.
ii. Rate to be applied on Estimated Annual Carrying.
B) Cash-In-Safe:
0.5% on the sum insured.
The insurance can be extended to cover: -

1. Full infidelity risks to the cash carrying messengers and/or employees at an additional
premium of 5% of the basic transit rate.
2. Strike & Riot risks at an additional premium of 20% of the basic rates.
3. Assault risks to unnamed Cash Carrying messengers and or employees upto a limit of
Rs. 10,000/- per person at an additional premium of Rs. 12.50 per capita.
4. Money in till and/or counter upto a reasonable limit say Rs. 5000/- during working
hours at an additional rate of 5.00%o on the sum insured.
5. Terrorism at applicable pool rate.
SPECIAL CONDITIONS:
1. Maintenance Of Books And Keys: the insured shall keep a daily record of the amount
of cash contained in the safe or strongroom and such record shall be deposited in a
secure place other than the said safe or strongroom and produced as documentary
evidence in support of a claim under this policy. The keys of the safe or strongroom
shall not be left on the premises out of business hours unless the premises are
occupied by the insured or any authorized employee of the insured in which case such
keys if left on the premises shall be deposited in a secure place not in the vicinity of
the safe or strongroom.
2. Adjustment Of Premium: The premium is so far as it relates to cash in transit is to be

adjusted by the amount of such money in transit during such period of insurance and
for this purpose a proper record shall be kept in the books of the insured which the
insured shall at all reasonable times allow the company to inspect. Such adjustment
and premium payment shall be made within one month from the expiry of each period
of insurance.
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PEDAL CYCLE INSURANCE
Scope Of Cover: loss or damage to the Pedal Cycle due to accident and Third Party Liability
arising due to the use of the pedal cycle. The Liability limit upto Rs. 15,000/- is covered
under the policy.
a) War and Warlike operation, Riot Strikes, Civil Commotion, Terrorist activities,
Convulsions of nature., Radioactivity
b) Wear, tear & Consequential loss of any kind including willful act of the insured and loss
of use during repair.
c) Damage to the tyres, tubes, lamps & accessories unless the cycle is lost/damages/
destroyed totally at the same time
d) Loss of or damage to the cycle tyres, tubes, lamps, chain or accessories due to over
loading, strain or mechanical breakdown or to wear and tears or damage to tyres,
tubes by application of brakes or by road punctures, cuts or bursts.
e) Cycle is being used for racing or hire or reward or outside India.
f) Destruction or requisition by or under the order of any Government or Public or Local
Authority.
g) Excess: Rs. 50/-
Rating: 2% min Rs 50
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LIFTS INSURANCE
Salient Features:
Lifts installed in the office or residential buildings and used for carrying passengers and
goods may be insured under this class of insurance. Lifts installed in Factories, hoists,
cranes etc., are to be insured under Engineering Dept. policies.
Scope of Cover :
a) Section I covers damage to all parts of a lift upto and including the main switch or
circuit breaker adjacent to the motor generator caused by
i) The actual breaking of any part of a machine causing sudden stoppage of
such machine and necessitating repair or replacement before working can be
resumed.
ii) electrical burnout of any part of machine
iii) the actual and complete severance of a rope but not breakage or abrasion
of wires or strands although replacement is necessitated thereby, while the
machine is being used under ordinary working conditions.
b) Section II provides cover against Insured’s legal liability to pay for accidental bodily
injury to Third Party and/ or accidental damage to wearing apparel or personal effects
to Third Party (excluding Insured’s family members and employees) arising out of the
use of such lifts. In case of goods carrying lifts this section includes accidental direct
damage to third party property. This section also pays in addition, legal expenses
incurred by the insured with the Company’s written consent.
Underwriting Consideration :
The Policy is subject to a warranty that the lift should be periodically inspected by the
Government Inspectors and there must be permission from the competent authority as to
the operation of the said lift. In view of this the acceptance of a Lift proposal is subject to
satisfactory inspection by a qualified Engineer/inspection maintenance contract providing
for regular supervision of the Lift and compliance with the recommendations, if any of the
inspecting engineers.
Excess: Each and every claim under Section I is subject to a compulsory excess of 5% on
the value of lift including all accessories with a minimum excess of Rs. 500/-.
Rate [Charged per mille)

a) Section I : On the estimated total value of the lift(s) - 4%o
b) Section II : On the limit of indemnity during any period of insurance
(Depending upon carrying capacity)
• Passenger carrying Lift - 1.2%o to 1.5%o
• Goods carrying lift - 1.5%o to 2.0%o
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PETROL PUMP INSURANCE
Salient Feature:
This is a combined policy to provide cover to owners and petrol pump against material loss
or damage to the pump and third party liability risks. Policy can be issued to Dealer of Petrol
Pumps
Scope Of Cover:
Petrol Pump policy comprises two sections.
Section I - covers the insured against loss of or damage to the pumps.by any cause other
than those specifically excluded
Rate : 2.25 per mille
Section II - indemnifies the insured against the legal liability to pay compensation to third
party in respect of death / bodily injury or damage to property belonging to third party
caused by or through any pump. All costs and expenses for defence of claims incurred with
the consent of the company are payable.
Rate : Rs. 6.00 per mille
Terrorism: Pool Rate
Exclusions
Section I
• Depreciation or wear and tear.
• Mechanical or Electrical breakdown.
• Contractual agreement
• Strike, lock out disturbances.
• Consequential loss
Section II Injucies / Death caused to
• Members of the insured family.
• Employees of the petrol pump.
• Property of the insured
Conditions
• The Company shall at all reasonable times have free access to inspect any property
insured.
• The insured shall try to preserve any damaged or defective or other appliances which
might prove necessary by way of evidence in connection of any claim.
• The insured shall not incur any expense in respect of any accident for which the
company is liable without the written authority of the company.
Sum Insured
Section I
The sum insured is to be decided by insured which should include value of pump its lantern,
storage tank, connecting pipe and fittings.
Section II
Three options of limits of indemnity in respect of ‘Any one accident’ and ‘Any one period’ are
provided and the insured has to opt for any one of the options.
Premium Rate: Refer to DO/BO with completed proposal form.

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PLATE GLASS INSURANCE
Cover: Loss or damage to the plate glass due to accident only (damaged due to the accidental
breakage only).
Exceptions
1. Wear and tear, process of cleaning, repairing, restoring or renovating , the action of
light or atmospheric conditions or any other gradually operating cause.
2. Improper handling, dismantling, fitting, adjustment, alteration or modification not
approved by the market/manufacturers and/or the agents of markets/manufacturers
or use of such property contrary to the directives of the market/manufacturers and/or
their agents.
3. Fire and explosion, earthquake (fire & shock), volcanic eruption or other similar
convulsion of nature.
4. Terrorism
5. Cracked or imperfect property including scratching, damage to frames or framework
of any description.
6. Breakage of any lettering unless such breakage be caused by or consequent upon the
breakage of the property to which such lettering is affixed
Rating: 3% subject to min Rs 100

Excess : 5% of claim amount subject to min Rs1000
SIGNS INSURANCE
Neon Signs, Sign Boards, Hoardings etc. displayed at business or office premises or on the
sides or roofs of the buildings or on road ways can be insured under this class of insurance.
Scope Of Cover :
• Section I covers loss of or damage to the signs by any accident or misfortune (damage
by scratches excluded) whilst at the location specified in the schedule subject to a
compulsory excess of Rs.150/- for each and every claim.
• Section II covers the insured’s legal liability to pay for accidental bodily injury to third
party and/or accidental damage to third party property caused by or through the signs.
This section also pays, in addition, legal expenses incurred by the insured with the
Company’s written consent.
Rate
a) Section I – On the estimated total value of 2% to 3%
the sign board
b) Hoardings (on building tops/ roadsides) Rs. 2% to 4%
c) Section II – on the limit of any one period 0.5%
of insurance.
d) For Riot & Strike risks. Loading of 20% of the premium of Section I
e) Minimum Premium Rs. 100/- per policy.
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HOME LOAN SURAKSHA BIMA
Salient Feature:
National Home Loan Suraksha Bima has been designed for home loan borrowers/lenders
that can be taken by any Home Loan Lender such as Bank/Employer/Co-operative Society/
Financial institution or by the Home Loan Borrower himself.
Age Of Borrower
Minimum Age : not less than 18 years on commencement of policy
Maximum Age : Not more than 60 years at the end of loan repayment period
Limited Coverage
The policy provides insurance protection to the extent of outstanding loan amount only.
Those who want comprehensive insurance protection should obtain separate insurance
policies
What Is Payable
In case of unfortunate occurrence of perils covered the policy would pay the lowest of the
following amounts.
a. The value of the property if it is fully destroyed
b. Value of damage or cost of repairs
c. All outstanding installments of the loan as on the date of occurrence of insured peril
(as per books of lender), minus the amount of installment/s which the borrower has
defaulted in repayment before the occurrence of the insured peril
d. The sum insured in the policy year when the insured peril struck
Scope Of Cover:
Section I : Coverage is identical with the Standard Fire and Special Perils Policy. The policy
covers damage to the house/flat due to Fire & Allied Perils
Exclusions Under Section I - As per Standard Fire Tariff
Section II : Personal Accident Cover to the borrower against the following perils:
a) Death due to accident
b) Accidental loss of two limbs, two eyes or one limb and one eye
c) Permanent total disablement from injuries other than that named above
Exclusions From Section II

i. Loss of one limb or one eye
ii. Any accidental injury or loss not mentioned under section II above
iii. Cumulative Bonus
iv. Education Fund
v. Cost of transportation of dead body
vi. Persons below the age of 18 at time of commencement & above 60 years at the end
of repayment period
vii. People having Hysteria
viii. Intentional self injury, suicide or attempted suicide
ix. Death or injury from accident whilst under influence of intoxicating liquor or drug
x. Death or injury from accident caused by insanity or veneral disease
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xi. Death or accident arising or resulting from the insured committing any breach of law
with criminal intent
xii. War or warlike operations
xiii. Ionising radiations or contamination by radioactivity
xiv. Loss by delay, loss of market or any other consequential or indirect loss or damage
xv. Default in repayment of installments and or loan due to any reason whatsoever except
due to the occurrence of insured peril
Period Of Insurance: Period of the policy would be identical to the period of repayment of
loan. However no policy can be issued for period less than two years & more than 20 years.
Sum Insured
Sum Insured in this policy will be the total amount of repayment (Principal + interest – Down
payment) which the borrower is supposed to repay over the entire period of loan. It can be
calculated by multiplying the amount of EMI with the number of installments minus the down
payment or any other method the lender chooses.
The sum insured so fixed will be the maximum liability in the first 12 months under the policy.
Subsequently the sum insured will reduce in equal proportion every year.
For example: Lon for 6 years, EMI Rs.5400

Sum Insured for 1st year : 5400 x 72 = Rs.388800
Sum insured in 2nd year : 388800 - (388800 x 1/6) = Rs. 324000
SI in 3rd year : 388800 - (388800 x 2/6) = Rs. 259200
4th year : 388800 - (388800 x 3/6) = Rs.194400
5th year : 388800 - (388800 x 4/6) = Rs.129600
6th & last year : 388800 - (388800 x 5/6) = Rs. 64800
Premium Rate
The rate will be applied on the first year sum insured and total premium should be paid in one
installment before commencement of the policy.
Period Rate per thousand to Period of policy Rate per thousand to be
of policy be applied on the first (YR) applied on the first year
(YR) year SI SI
1 No policy 11 2.74
2 1.25 12 2.97
3 1.48 13 3.20
4 1.75 14 3.43
5 1.88 15 3.66
6 2.17 16 3.88
7 2.31 17 4.11
8 2.42 18 4.34
9 2.50 19 4.57
10 2.52 20 4.79
Additional Premium For Joint Account

In cases of Housing Loan released to the joint borrowers the risks to joint borrowers shall
be covered by NICL on payment of additional payment premium at the rate of 25% of the
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single premium for every additional person. The claim shall be settled by NICL on the death
or physical disability incurred by anyone of the housing loan borrowers.
Proposal Form
A proposal form would be filled in and jointly signed by the Lender and the borrower
Claim Procedure
Intimation regarding claim should be given to NICL immediately.
Payment Of Claims
Any claim under Section I of this policy would be paid to the Lender (Bank/Employer/
Financial Institution/Co-operative Society) as the policy is subject to ‘Bank clause’.
In respect of any claim under Section II, the borrower would assign the benefits to the
Lender ie Bank/Employer/Financial Institution/Co-operative Society, as the Policy is subject
of ‘Assignment Clause’.
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GOLFERS’ INSURANCE
Salient Features: Policy can be issued to Amateur Golf players only and not to the
Professional Golf Players.
Scope Of Cover:
Section I
1. Covers Liability to third party arising due to the use of the golfers equipments, in
respect of death of or bodily injury to any person who is not a member of the insured’s
family or household nor a person who is engaged in the service of the insured under a
contract.
2. Damage to property not belonging to/nor held in trust by/nor in the custody or control
of the insured/member of the insured’s’ family or a person acting on behalf of the
Insured.
3. All costs and expenses incurred with the written consent of the company in respect of
a claim for damages to which the indemnity expressed in this section applies
Section II
Covers loss or damaged to the golfers equipments (including Clubs , Bags and Caddie Cars)
due to accident or misfortune in golf course or in transit and
Section –III
covers loss of or damage to the personal effects (the property of the insured) during the
period of Insurance by Fire &/or Theft whilst at any golf course /club in India .
Exceptions Sec III:

The indemnity expressed in this section shall not apply nor include-
1. Golfing equipments.
2. Watches, Jewellery, trinkets, medals, coins, money, stamps, securities and other
document and the motor vehicles.
1. Limit of Indemnity under section-I : AOO & AOP
2. Details of the Golfing equipments( Section-II) like Make, year, Sl.No./Identification No/
Marks, Date of Purchase, Value of Items, Details of Personal Effects with value for Sec
III cover, Location where the equipments are kept in safe custody
Premium Rate . 1% to 1.5%
General Exclusions:
1. War and Warlike operation, Riot Strikes, Civil Commotion, Terrorist activities,
Convulsions of nature., Radioactivity
2. Wear, tear & Consequential loss of any kind including willful act of the insured and loss
of use during repair..
3. Destruction under the order of any Government or Public or Local Authority.
4. any legal liability whatsoever nature directly or indirectly caused by or contributed to by
or arising from ionizing radiations or contamination by radioactivity from any nuclear
fuel or from any nuclear waste from this.
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Standard Excess (Min)
Golfer Equipment:
5% of the claim amount subject to minimum of Rs.1000- for each and every loss.
Personal effects:
5% of Claim amount subject to minimum of Rs. 1000/- for each and every loss.
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SISHU SURAKSHA INSURANCE
This policy can be issued to Crèches and or similar organizations who take care of the
children aged between three months to 5 (five) years.
Scope of Cover:
Section-I covers liability of the insured which arises from the accidental bodily injury to the
children whilst they are under their care & custody and under Section-II Legal liability to the
third party including parents/guardians of the children as under:
Compensation
Item for
Description of Benefits payable % of the
Section - I
Capital Sum Insured
A Death only 75%
B Loss of sight of two eyes or loss of use of two hands 100
or feet or loss of use of one hand and one foot or
loss of sight of one eye and loss of use of one hand
or foot.
C Loss of sight of one eye or loss of use of one hand 50
or one foot
D Permanent total disablement from injuries other than 100
named as above
E Reimbursement of Medical Expenses Rs. 100/- per child per
accident subject to Rs.
2000/- per year for all
accidents
Section-II: Legal liability to third party including parents/guardians of the children

AOA Rs. 25,000/- and AOP Rs. 50,000/- which may be increased upto Rs. 2,00,000/
The following extra benefits may be covered on payment of additional premium: under
section-II on charging additional premium:-
Legal liability arising from food poisoning due to the negligence of the insured.
Premium Rates:
Rs. 2 per mille for each child applicable to the sum chosen for each for section-I and plus
Rs. 20/- per child for section –II for sum Insured of Rs. 50,000/- For additional sum insured
(in excess of Rs. 50,000/- in section –II) for increase of Rs. 25,000/- slab Rs. 10/- be
charged. For food poisoning Rs.20/- per child.
1. Under section-I: whilst life assured is under the influence of intoxicants or is suffering
from insanity or engaged in any activity which cannot be reasonably interpreted as an
activity customarily conducted in the crèche premises & arising from food poisoning,
renal disorder or congenital disease or deformity.
2. Under section-II: liability to own employees, or assumed by an agreement and arising
from deliberate act or omission. Liability arising from the use of lift, escalator and
vehicles.
3. Both the sections: War and allied perils & Nuclear risk including terrorism.
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TELEVISION, VIDEO & VCR INSURANCE
Scope Of Cover:
Loss or damage due to Fire, Lightning, explosion of gas in domestic appliances, bursting and
over flowing of water tanks or pipes, Air craft or articles dropped therefrom, Earthquake fire
or shock damages, Riot, Strike, malicious act, terrorism, Burglary housebreaking and theft,
Accident external means and Electrical & Mechanical breakdown.
Third party Liabiltiy upto Rs. 25,000/-
Premium Rate: Rs. 1.005% to 1.505% on S.I.
Excess : Rs. 100 per claim on TV set and Rs. 500 per claim on VCR
Exclusions :
1) Damage due to the use of any fittings, components or ancillary instruments contrary
to the directions of the manufacturers or resulting from alteration / modiification of the
equipment of whatsoever nature.
2) Damage due to wear and tear, the action of atmospheric conditons, or any gradually
operating cause.
3) Breakage of lenses or screen unless the total equipement is damaged.
4) Damage arising during adjustments, cleaning, dismantling, fitting, repair or restoring of
any part of the equipment.
5) Damage to any accessories unless they are specifically insured.
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HOUSEHOLDERS INSURANCE POLICY
The Householders’ Insurance is a comprehensive policy comprising of TEN sections which

cover contingencies faced by householders. Policy can be issued to Householders ,Owners/
tenants of flats, bunglows, apartments, housing societies in rural/semi-urban/urban areas
including metro cities.
Scope of Cover: Section 1B and II are compulsory. Remaining covers are optional depending
upon the needs and choices of the individual insured.
Description of Rate
Sec Description of Risk
Cover (per mille)
1A Fire and Allied Building 0.30*

Perils (Excess as
applicable)
1B Fire and Allied Contents-Furniture,Fittings,Clothing,Vessels, 0.30*
Perils Electrical and Electronic Items, computers and
(Excess as decoratives,personal effects (other than items
applicable) covered under Section III and VI below).
(SI on Market or The cover extends to the property while in transit
Reinstatement and stored in other premises for a maximum
Value) period of 120 days and for a value not exceeding
one-tenth of the sum insured under this Section.
II Burglary,House- Contents in 1B above (Sum Insured should be 1.00
Breaking,including identical with 1B).
larceny and/or Items of motor vehicles, pedal cycles and
theft livestock excluded.
(SI on Market or The cover extends to the property stored in other
Reinstatement premises for a maximum period of 120 days and
Value for a value not exceeding one-tenth of the sum
*EQ Rate insured under this Section
included)
III All Risks (SI Covers loss or damage to jewellery & valuable, 10.00
Agreed Value) Mobile Phones, caused by accident or misfortune
whilst anywhere in India. Recent invoice receipt
or
valuation certificate should be obtained for items
valued at more than Rs. 5000/- each. This cover
must be given most judiciously to well known and
reputed clients only with the permission of BM/
DM
IV Plate Glass Covers loss or damage to fixed plate glass in 10.00
insured premises by accidental breakage.
Glasses
fitted in doors, wardrobes, mirrors, etc. Cost of
frames, beedings, to be specifically covered
Excess: 1% of the SI subject to a minimum of
500/-
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V Breakdown Loss or damage to domestic appliances – 2.50
of domestic Electrical caused by and/or solely due to
Appliances (SI is mechanical and/orelectrical breakdown. Year of
the replacement make, model, Sl.No. to be furnished.
value of each Policy Excess – 1 % of the individual S.I. or
item) Rs.50/- (Min).
In case of Total Loss, Depreciation @10% p.a.
(Max.50%) will be applied to arrive at the claim
quantum
VI Television Sets & Covers 5.00
VCR/VCP etc a)loss/damage to the Television apparatus/ VCP/
VCR in the insured premises by fire & allied
perils, burglary and/or housebreaking or theft,
accidental external means and mechanical/
electrical breakdown.
b) Legal Liability upto a limit of Rs. 25000/-
c )Damage to Insured’s property caused by
breakage of the antenna/dish fittings etc upto a
limit of Rs.3,000/-
d) Excess: 1% of the SI subject to a minimum of
Rs.500/-
VII Pedal Cycle a) covers loss/damage to pedal cycle 10.00
belonging to Insured by fire & allied
perils, burglary, housebreaking or theft and
accidental external means
b) Legal Liability upto a limit of Rs.10,000/-
Franchise: Rs. 10/- of each and every loss
due to accident i.e., if the loss or damage
exceeds Rs. 10/- the full claim is payable
VIII Baggage Covers loss/damage to insured’s 7.50
accompanied baggage by accident or
misfortune whilst the insured is travelling on
tour or holiday anywhere in India
IX Personal Covers the Insured, his spouse or children As per PA
Accident between the age of 5 to 70 years against Guidelines
death, permanent total disablement, Table and
permanent partial disablement and temporary Cover
total disablement.
Additional Benefits:- Options
1. Expenses incurred for carrying of dead
body of Insured in case of accidental
death only; and
2. Medical expenses arising out of accident
upto 10% of CSI or 40% of admissible
claim at an additional premium of 20% of
Basic SI
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X (a) Public Liability TP Liability including property damage 0.50
caused due to the fault and negligence of
family members of insured (Legal Liability).
(Maximum Sum Insured - 25000)
- Coverage – As per Public Liability Act
X (b) E.C Insured is indemnified against 3.13
compensations to his employees that he
becomes legally liable to pay under WC
Act 1923, Fatal Accidents Act, 1855 or at
Common Law in respect of Accidental death/
bodily Injury during the course employment.
Sum Insured–
Total Annual Wages paid.
Terrorism Section I sum insured Pool rate
Note:
Section I B is compulsory and out of the remaining nine sections, any two should be opted
for as a minimum.
Section Discount :Discounts are available on the sections other than Fire & Personal
Accident, as under if the proposer opts for cover the section:-
1. 1 & II plus five other 15%
2. b) I & II plus six or more 20%
No article other than furniture is deemed to be more than 5% of the sum insured under
section-I & II, unless separately specified and value stated.
No one article or pair of article is deemed to be more than 10% of the sum insured
under the section-III unless separately specified and value stated.
Exceptions: As per policy
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SAMPOORNA SURAKSHA BIMA POLICY
It is a complete personal line insurance plan designed to cover virtually every personal
protection need of individuals – property, health, cover against accidents, security against
professional error or negligence.
Scope of Cover: This Policy is a combination of 7 sections. Section I is compulsory. The

proposer should choose minimum two more sections from the remaining 6 sections II – VII.
Section 1 –Geographical area – Specified location for Sec 1 A to I D and All over India for
Sec I E.
Sub-
Perils Covered Plan 1 Plan 2 Plan 3 Plan 4 Plan 5 Plan 6
Section
1A Fire & Allied 1 Lakh 2 Lakh 3 Lakh 5 Lakh 7 Lakh 10 Lakh
Perils, EQ
(Personal Effects
in the house)
1B Burglary, 1 Lakh 2 Lakh 3 Lakh 5 Lakh 7 Lakh 10 Lakh
Housebreaking
Larceny and
Theft (Personal
Effects in the
house)
IC Breakdown of 20000 40000 65000 100000 150000 200000
Specified Home Fridge Fridge Fridge Fridge Fridge Fridge
Appliances (one Washing Washing Washing Washing Washing Washing
and all of these Machine Machine Machine Machine Machine Machine
appliances) Mixie Mixie Mixie Mixie Mixie Mixie
Geyser Geyser Geyser Geyser Geyser Geyser
Wet Grinder Wet Grinder Wet Grinder Wet Grinder Wet Grinder
Micro Micro Micro Micro
wave Wave Wave Wave
AC AC AC
Music Music
Deck
1D Breakdown 12000 16000 20000 35000 40000 50000
Accidents incl.
TP Liability- T V Sets T V Sets T V Sets T V Sets T V Sets T V Sets
Rs.25,000
Damage to
Insured’s
property-
Rs.3000
1E All Risks 20000 30000 50000 75000 125000 150000
Specified Jewellery, Jewellery, Jewellery, Jewellery, Jewellery, Jewellery,
Jewellery and Watches & Watches & Watches & Watches Watches Watches
Valuables Camera Camera Camera Camera Camera, Camera,
& Video Video Video
Camera Camera & Camera &
Laptops Laptops
Premium 464/- 825/- 1254/- 2035/- 2931/- 3956/-
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Terrorism Cover (optional) – Rate 0.08 per mille
Section II: - Fire and Special Perils to Residential Buildings- Rate 0.30%0 + EQ,
Terrorism (optional)
Section III: - Personal Accident Benefits

This section provides accident benefit to the Insured, spouse and eligible dependent children.
Age 5 to70 years. Worldwide cover.
Death and Loss of Two Eyes or One Limb and One Eye 100%
Loss of One Limb and One Eye 50%
Permanent Total Disablement 100%
Permanent Partial Disablement As per PA (Guidelines)
Sum Insured
Proposer - Rs. 1 to 10 lakhs (in multiples if 1 lakh)
Spouse (If Earning) - Rs. 1 to 10 lakhs (in multiples if 1 lakh)
Spouse (Not earning) - 50% of the CSI of Proposer or Rs.2 lakhs whichever is less
Children (per child) - 25% of the CSI of Proposer or Rs.1 lakh whichever is less
Premium Rate
Risk Type Proposer Type
on CSI
Normal Bureaucrats, Doctors, Lawyers and such persons engaged 0.072%
in administrative work
Medium Builders, Contractors, Engineers engaged in superintending 0.100 %
functions, drivers, veterinary doctors, etc.
Heavy Persons working in underground mines, Explosive factories, 0.152 %
High tension supply workers, etc.
• Premium rate depends on the risk profile of the persons/family members covered.
• Family Discount @ 5 % is allowed on Total Premium. (Family means self, spouse,
dependent children and dependent parents)
• Cumulative Bonus: 5% in respect of each completed claim free years upto a maximum
50% of CSI. Cumulative Bonus will not be lost if the Policy is renewed within 30 days
after its expiry.
Section IV – Mediclaim
• Covers reimbursement of Hospitalisation expenses as an in-patient and limited OPD
treatment expense.
• This cover is available to the Insured, Spouse, Children and dependent Parents
• Age: 3 months to 80 years
• Cover as per Standard Mediclaim Insurance including Entitlement for Cumulative
Bonus, Health Check up and Family Discount.
• TPA facility available. Premium as per standard mediclaim policies.
3) Income Tax Rebate under Section 80 D is not permissible
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Section V – Professional Indemnity: Doctors, Architects, Engineers, Interior decorators,
Chartered Accountants, Financial Consultants, Management Consultants, Lawyers,
Advocates, Solicitors, Counsels.
This indemnifies the legal liability of the professionals to pay compensation arising out of
error or omission.
Sum Insured – 1.00 to 10.00 lakhs (in multiples of 1.00 lakh)
Premium Rate
Professionals Rate of Premium
Doctors and Medical Practitioners 0.14% on Sum Insured
Qualified Assistants Plus Rs.80/- per capita
Unqualified Assistants Plus Rs.30/- per capita
Professionals other than Doctors 0.73% on Sum Insured
Qualified Assistants Plus Rs.80/- per capita
Unqualified Assistants Plus Rs.30/- per capita
Section VI – Personal Computers (installed at the residence premises as mentioned in

Section 1 A and 1 B)
The cover includes breakdown and accidental damage. Sum Insured should be the New
Replacement Value.
Premium Rate – 0.758% on the Sum Insured (New Replacement Value)
Section VII – Private Cars / Two Wheelers Package Cover

Private Cars and Two Wheelers also can be included under the policy. All the conditions and
excusions As applicable to Motor Policies will apply.
Premium Rates - As per Motor Premium Guidelines
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SHOPKEEPERS INSURANCE POLICY
Building and contents of small shopkeeper are covered under this insurance. It covers a
number of risks under single policy.
Scope Of Cover:
Section I: Fire & Allied Perils
This covers loss of or damage to (a) building (b) contents by fire & allied perils. The maximum
Sum Insured under Section I is Rs. 2 crore. If the S.I exceeds Rs. 2 Cr,usual Standard Fire
and Special Perils Policy must be issued to the full amount.
Rate of Premium : Rs. 1.40 per mille
Excess : The first 5% of claim amount subject to a minimum of Rs. 10,000 and maximum
of Rs. 25,000/- arising out of AOG perils such as lightning,STFI,earthquake,subsidence and
landslide and rockslide.
The first Rs. 10,000/- arising out of perils in respect of which the insured is indemnified by
this policy.
Section II : Burglary and Housebreaking

This covers all contents in the premises against the above risks.
The Sum Insured under this should be the same as the Sum Insured under Section 1(b)
Rate of Premium: Rs.1.00 per mille
Section III: Money Insurance

This covers loss of money whilst in transit and whilst contained in a safe/steel cupboard/
cash box under lock and key in the Insured’s premises.
a) In transit (not exceeding Rs. 50,000/- per any on transit between 2 places within a
radius of 24 kms from insured premises)
b) In safe / steel cupboard (2% of SI or Rs. 20,000 whichever is less).
c) In Counter (1% of SI under Sec I or Rs. 10,000 which ever is less).
Rate of Premium 2.5% for each section.
Section IV: Pedal cycle

(a)This cover pedal cycle against loss or damage by fire & allied perils,burglary/housebreaking
and accidental external means.
(b)Legal liability upto a limit of Rs. 10,000/-
Franchise: Rs. 50/- of each and every loss due to accident. If the loss or damage exceeds
Rs. 50/- the full claim is payable.
Section V : Plate Glass

This covers loss or damage to fixed plate glass in the Insured’s premises by accidental
breakage.
Rate of Premium: Rs. 10.00 per mille

Sum Insured: 10% of the S.I under Section I or Rs. 1,00,000/- whichever is less.
Excess : 1% of the Sum Insured subject to a minimum of Rs. 500/-
Section VI: Neon Sign/Glow Sign Insurance

This covers loss or damage to Neon Sign/Glow Sign by accidental external means fire,
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lightning or external explosion or theft, riot ,strike or malicious act, flood, inundation, storm
etc.
Sum Insured: 2% of the S.I under Section I or Rs. 20,000/- whichever is less.
Excess :First Rs. 2500 or 5% of the claim amount whichever is lower.
Section VII : Baggage

This indemnifies the Insured in respect of
i) Baggage in connection with trade accompanying the Insured and/ or his employees
ii) Personal baggage of Insured and/or proprietors and/or partners accompanying them
anywhere in India if lost or destroyed or damaged by a accident or misfortune.
Sum Insured : Carrying trade sample by Insured/employees and/or personal effects of the
Insured partner (2% of the S.I. under Section I or Rs. 20,000/- whichever is less).
Section VIII : Personal Accident

Please refer to PA section of this manual.
Section IX : Fidelity Guarantee

This indemnifies the Insured against direct pecuniary loss sustained by him and caused by
the act or fraud or dishonesty committed by any salaried person employed by the Insured
in the premises.
Sum Insured :10% of the S.I. under Section I or Rs.1,00,000/- whichever is less.
Section X : Liability
This covers (a) legal liability to any third party for personal injury or property damage whilst
caused at the Insureds’ premises. (b) Insureds’ statutory liability in connection with his trade
and business under Workmen’s Compensation Act, 1923. Fatal Accident Act, 1855 and at
Common Law in respect of death of or injury to employees.
1) Public Liability
Sum Insured : 5% of the S.I. under Section I or Rs. 50,000/0 whichever is less
1) Employees Compensation – Rs.3.13 per millle on the estimated wages.
Section XI : Business Interruption

Sum Insured must be equal to S.I. under Section I (b)
Terrorism: Section I Sum insured As per Terrorism pool rate
Important Guidelines
1. This Policy should be issued only to shops with Class A construction.
2. The sum insured under section I (a) & (b) together should not exceed Rs.2,00,00,000/-
3. This Policy cannot be issued to cover risks where the fire tariff rate is more than
Rs.1.78 per mille
4. Section I (b) & II i.e., insurance of contents against the risk of fire & allied perils &
burglary/housebreaking are compulsory. However, policy cannot be issued covering
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the above sections alone. A minimum of two sections have to be covered out of the
remaining sections. The minimum premium for Section I is Rs. 10/- and Rs.5/- for
other sections.
5. In case the proposer opts for section IV and VI, the properties covered under these two
sections may be deleted from the schedule under section I (b) and II in view of double
cover.
Group Discount :
Discounts are available on the sections others than Fire & Personal Accident, as under if the
proposer opts for cover thefollowing section:-
• 1 & II plus Five other 15% &
• I & II plus Six or more 20%
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VYAPAR SURAKSHA POLICY
Vyapar Suraksha Policy is a comprehensive Policy comprising twelve sections providing

cover for a wide range of risks/ perils that a shopping complex is exposed to.
Customer :Retail chain, Shopping Arcades & Complex, Shops/ Showrooms,
Malls,Departmental Stores, Hyper Markets, junctions.
• Proposals to be referred to HO for approval
• Section I B, II and III are compulsory. Other sections are optional
• Sum Insured under section I B & II can be increased automatically by 25% during any
two named festivals for 30 days if opted by the insured in the beginning. For this cover
additional premium of 5% of gross premium for the particular section has to be paid
by insured.
Scope of Cover
Sec Description of Risk Rate Excess
(per mille)
1A Fire and Special perils- Building, Landlord’s Fixtures & Fittings, 1.40 The first 5% of each
Boundary Walls, Gates & Fences, Sanitary Fittings. Other and every claim
Property (to be specified) subject to minimum
of Rs.25,000
1B Shop contents (Maximum Sum Insured Rs.5 Crs.) Stock, 1.40
Goods held in Trust, Furniture, Fixture & Fittings, Furnishing,
Safes, Stationery, Telephone, Gas, Electric Meters, Interior
Decoration, Appliances, Lifts if any, Fixed External Sign
Boards, Electronics equipments. Any other Property
1C Business Interruption Gross Income, Additional Expenditure, 1.75 7 days gross profit
Accountant charges / fee.
1 D Insurance of Rent for Alternate Accommodation as Tenant 1.40
or Owner Occupant, Additional Expenses of Rent for an
alternative accommodation
II Contents – against Burglary Housebreaking, Dacoity (as 1.00 Nil
stated above in Sec. 1 B excluding fittings and sign boards etc.
outside the premises)
III Money I. In Transit (Estimated Annual Carrying Limit) II. 2.5 Nil
Single Carrying Limit III. In Safe IV. On Counter, Cash Box, Till
IV Plate Glass a. Description b. 10.00 1% of sum insured,
Dimension if ornamental or speciality, please describe subject to minimum
of Rs.500/-
V Neon / Glow Sign 10.05 5% of Claim Amount,
subject to minimum
of Rs.2,500/-
VI Breakdown of Appliances/ Lifts/ Generators 15.00 1% of sum insured,
subject to minimum
of Rs.2,500/-
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VII- A ElectonicsEquipments (Installed) Insured item should be 7.50 5% of Claim Amount,
covered under section 1 B subject to minimum
of Rs.2,500/-
VII – B Electronic equipments portable (Insured item should be 15.00 5% of Claim Amount,
covered under 1B) subject to minimum
of Rs.2,500/-
VIII Cost of Reinstatement of Data 7.50 5% of Claim amount
subject to minimum
of Rs. 1,000/-
IX Infidelity(Names to be Given) 5.00 + NIL
Rs. 10/-
for each
X Personal Accident(employees) As per NIL
table of
benefits
XI Mediclaim As per NIL
Guide Rate
1.00
XII A Public Liability. Third Party liability arising on shop premises As per 0.25% of AOO limit
erstwhile subject to minimum
Market of Rs. 1000/-
Agreement and Maximum of
Rs.1,00,000/-
XII B E C (Employees) 3.13 Nil
Terrorism Section I Sum Insured Pool Rate
Add On Covers: Covers can be included by charging appropriate additional premium

• Off-site Godowns :
On payment of additional premium cover under Section I & II can be extended to off-
site. Risk cover, Terms and Conditions, Exclusions, Excess etc. will be the same as in
Section I & II.
1 Local Transit of Goods : (Not applicable to Gold, Jewellery, High value items)
On payment of additional premium, local transit of goods in insured’s own registered
goods vehicle from godown to shop can be covered in case of accident to the Insured
vehicle subject to maximum ½% of the sum insured under Section IB in any single
transit. Excess as per Sec.IB.
2 Damage to Frozen food stocks for sale in shop due to change in temperature
On payment of additional premium the Insurance can be extended to cover spoilage of
frozen food stocks for sale in shop due to fluctuation in temperature beyond the control
of the insured. Excess as per Sec.IB.
3 Temporary Removal of stocks
On payment of additional premium stocks can be covered while temporarily removed to
any other premises for fabrication or processing or finishing or other similar purposes.
Sum Insured under this Section is limited to 10% of the sum insured under Section IB.
Excess as per Sec.IB
4 Terrorism
Loss or Damage due to terrorism is excluded from the purview of the policy under all
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sections unless it is specifically covered from the beginning and separate premium as
per Terrorism pool rate
Exclusions ( For complete list please refer the policy bond)

1. Terrorism
2. War and Allied perils, Radiation, Nuclear weapons
3. Pollution
4. Consequential loss
5. Normal use / wearing out
6. Existing fault/ Inherent loss
7. Negligence/ Willful Act
8. Requistion/ Confiscation
Discounts for Coverage of Additional Sections.

Discounts are available on the sections other than Fire & Personal Accident, as under if the
proposer opts for covering the section :-
a) I & II plus Five other 15% &
b) I & II plus Six or more 20%
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OFFICE PACKAGE INSURANCE
This policy has been devised to cater to the specific requirements of “office Establishments”
containing 15 sections with stipulation of compulsory coverage and minimum sections for
availing discounts.
Scope Of Cover:
Section 1A- As per Standard Fire & Special Perils Policy:

Property Insured: The buildings including:-
a) The Landlords Fixture and Fittings &
b) Boundary Walls and Fences
c) Other Property (specified)
d) Sanitary Fittings
e) Canteen belonging to the insured or for which he/she is responsible.
Rate Of Premium: :Rs. 0.30%o
Excess: 5% of the claim amount subject to a minimum ofRs.10,000/- for all perils other than
AOG perils, for AOG perils 5% of the claim amount subject to a minimum of Rs.25,000/-
Section 1B - Standard Fire & Special Perils Policy:

Property Insured: contents such as
a) Furniture, Furnishing, Safes, Fixtures, Fittings, Stationery
b) Documents, telephone, Gas& electric Motors, manuscripts, drawings, designs etc.
c) Office Appliances/Electronic Equipment
d) Clothing and personal effects (except for property otherwise insured and Jewellery,
Money& Fur) limit Rs. 5000/- per person)
e) Tenants improvement /decorations Alterations to the portion of the premises occupied
by the Insured.
f) Any other property (please specify)
g) Canteen Contents
h) Lift
Rate Of Premium: Rs. 0.30%o
Excess: 5% of the claim amount subject to a minimum ofRs.10,000/- for all perils other than
AOG perils, for AOG perils 5% of the claim amount subject to a minimum of Rs.25,000/-
Section 1C - Business Interruption

If the Business is interrupted during the currency of the policy by: -
1. Damage occurring at the office premises for which the company has admitted liability
under Section IA or IB.
2. Damage to Electronic equipments installed for which liability has been admitted under
Section VI.
3. Denial of access to the office as a direct consequence of damage to property in the
vicinity by any peril or risk included under specified perils on sections IX and or Section
IB,
then the Company will pay to the insured the amount of loss in respect of following items:-
a. The Gross Income including increased cost of working.
b. On additional expenditure
c. On accountant’s charge.
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Excess: 7 days of GP
Section 1D
Insurance of Rent for Alternative Accommodation - Tenant or owner occupant
Rate Of Premium:: Rs. 0.30%o
Section 1E - Loss of Rent

This section shall reimburse the loss of rent to the Insured following a valid claim under
Section 1 A of the policy, where the premises have been rendered untenable and / or unfit for
occupation. RATE OF PREMIUM: Rs. 0.30%o
Section 2 - Loss of contents due to Buglary / Housebreaking

Damage to the Premises, (the liability limited to 5% of S.I. mentioned in the schedule),
consequent upon insured perils Burglary House Breaking / Robbery of the Contents of the
office.
Note: The Sum Insured under Sec. 1B and Sec. 2 must be the same
Section 3 - Plate Glass

Loss/Damage to fixed plate glass in the insured premises by accidental breakage
Rate Of Premium: Rs. 10%o.
Excess: 1% of the sum insured subject to a minimum of Rs.500/-
Section 4 - Neon Sign / Glow Sign

Loss or Damage to Neon Sign / Glow Sign by accidental external means/ theft, burglary /
RSMD / Fire / Natural Calamities / Impact of Vehicles and Animals.
Excess: First Rs.2500/- or 5% of the sum insured whichever is lower
Section 5 - Breakdown of Office Appliances

Covers Electrical / Mechanical Breakage of Office Appliances.
Excess: 1% of the sum insured subject to a minimum of Rs.2500/-
Section 6 A - Electronic Equipments

Covers Loss / damage due to any cause to
• Electronic Equipment installations
• Data carrying material while contained in the office.
Rate Of Premium: :Rs.7.5%o.
Excess: 5% of the claim amount subject to a minimum of Rs.2500/-Section 6B - Portable
Computers
Section 6B - Portable Computers

Covers Loss or Damage to Portable Computers while being used by the officials of the
Insured on journeys to places by Train or Road or Air.
Rate Of Premium:Rs.7.5%o.
Excess: 5% of the claim amount subject to a minimum of Rs.2500/-
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Section 7 - Loss of Money
Covers Loss of money in transit by Robbery, theft or any other fortuitous cause and loss of
money by burglary, housebreaking, robbery or hold up while money is retained at insured
premises, in safe or strong room.
Rate Of Premium: Rs.2.5%o.
Section 8 - Pedal Cycle

As per Standard Fire & Special Perils, Burglary, House Breakings, Theft etc.
Rate Of Premium: Rs.10.00%o
Section 9 - Baggage
‘All Risks’ basis cover
Rate Of Premium: Rs.7.50%O On AOY Limit.
Section 10 - Personal Accident Insurance For Employees

As Per PA insurance
Rate Of Premium: As Per Guidelines Given Under P.A Insurance Section.
Section 11 - Mediclaim
Rate Of Premium: As Per Guidelines Given Under Mediclaim Section.
Section 12 - Infidelity Insurance

Cover : Indemnity Against Direct Pecuniary Loss Caused By Act Of Fraud Or Dishonest
Committed By Any Salaried Person Permanently Employed By Or With The Insured In The
Office Up To The Amount Stated In The Schedule.
Rate Of Premium: Rs.5%o on Amount of Insurance + Rs. 10/- per staff
Section 13 - Cost of Re-instatement of Data/Programme

Cover :In the event of damage to data contained in or data carrying materials or to programmes
caused by specified perils covered under Sec-6 here in above, the company will indemnify
the insured against the cost of re-instating such data on data carrying materials and for
programmes replaced upto amount stated in the schedule.
Section 14- Tenants Legal Liability

Cover :Where the Insured occupies rented/leased premises, the cover is towards Insured’s
Legal liability for damage to the buildings and landlords fixtures/fittings caused during the
currency of the policy by the perils covered under Section 1A .
Section 15 A- Third Party Liability

Section 15 B – Employees Compensation Insurance

Terrorism : Sum Insured as in Section I

Rate of Premium : As per Terrorism Pool rate
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UNDERWRITING GUIDELINES:
1. Sec 1 A, 1B and 2 are compulsory for owners of the building and Sec 1B and 2 are for
occupier-tenants of the building.
2. Sum Insured under Sec 1 B and 2 should be more or less identical. Reasons may be
specified in case of any variation.
3. In addition to the above, additional 3 more sections must be opted.
4. Discount On Premium:
Discounts are available on the premium other than Fire & Personal Accident sections as
under if the proposer opts to cover the sections-
A. Section-IB (Fire cover for contents) & II (Burglary) & III (Money) are compulsory.
B. (a) above plus two sections 10% discount.
C. (b) plus four section 15% discount.
D. © plus six sections 20% discount.
1. Renewal Discount : On renewal of the policy with our company, discount would
be available for same sections Insured previously. The grace period for availing of
Renewal Discount is 15 days only.
i. 1st Renewal - 5% of premium
ii. 2nd Renewal and subsequent Renewals - 10% of premium
1. Sectional Discount and Renewal Discounts are available for Premium on Sections
other than 1A, 1B, 1D, 1E, 6, 11 and 15.
2. The Renewal Discount is applied before Sectional Discounts are worked out.
3. Renewal Discounts, Sectional Discounts and Grace period are not applicable for
Mediclaim / Hospitalisation cover where Original Mediclaim Scheme provisions will be
applied strictly.
4. Claims under Sec. 1(A), 1(B) 2,3,4, and 8 will be settled on Reinstatement value basis.
Construction of the Office: Only Office in a Class A Constructed building can be covered.
Minimum Premium Rs. 1,000/-.
For exceptions please refer policy.
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DOCTORS PACKAGE POLICY
Covers Loss/Damage to property or the benefits specified or bodily injury sustained by the
insured or the partners directors or managerial staff or employees of the Insured permanently
working with the Insured solely caused by the negligence, omissions or errors wherever the
same was or may have been committed by the insured in his personal capacity or in his
professional capacity as a medical practitioner as detailed below:
Rate range
Section Cover Standard Excess (min)
per mille
Section 1A Building(residence & chamber)- 5% of claim amount 0.30
&C Fire & Allied Perils including subject to minimum of
Earthquake[Terrorism optional] Rs. 10,000/- for all perils
other than AOG perils
and for AOG perils 5% of
claim amount subject to
minimum of Rs.25000/-
Section – 1B Contents(residence & chamber) 0.30
&D Same as above
Section 1E Tenants Legal Liability including 0.30
Additional Same as above
Section 2 Burglary & HB excluding 1.00
valuables
Section-3 Jewellery and Valuables 10.00
Section-4 Plate Glass 1% of the sum insured 10.00
subject to min 500 EEL
Section -5 Neon/Glow Sign. 2.5% of the sum insured 10.00
Section 6 Breakdown of Appliance 1% of the sum insured 5.00
Section 7 Electronic equipment installed 5% of Claim amount 5.00
Section 8 Electronic equipment portable 5% of Claim amount 5.00
Section-9 Doctors Kits 5% of the sum insured 5.00
Section 10 Cost of Data Reinstatement 5% of the sum insured 5.00
Section 11 Infidelity Nil 5.00 + Rs10
for each
person
Section 12 Money Nil 2.5
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Section 13 Baggage Nil 7.5
Section 14 Personal Accident Nil PA rates
Section 15 Public Liability 0.25% of AOO limit subject 2.5
to min 1000 and max
100,000 EEL
Section 16 Employee Compensation Nil 3.13
Section 17 Professional Liability 0.5% of AOO limit subject 4.00
to min 1000 and max
100,000 EEL
Section 18 Mediclaim Nil 4.00
Add On for Terrorism Subject to 25000 and max As per pool
Sec I SI 10 cr guide rate
For exceptions and offer conditions please refer policy bond/OO.
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HOTEL MOTEL AND RESTAURANTS PACKAGE INSURANCE
Salient Feature:
The policy is a comprehensive package of various coverage providing insurance protection
against the risk which beset owners of Hotel, Motel & Restaurant.
Scope Of Cover:
Section :I - 1A ( Building of Class A Construction), 1B (contents), 1C (Business Interruption
- Fire Loss), 1D (Alternative Accommodation), 1E (Loss of Rent) ; cover for loss or damage
to building, contents /stock, trade material, furniture, Business interruption, Alternative
Accommodation and loss of rent etc due to Fire &d Special perils
Section 2 (contents) loss due to Burglary & Housebreaking & Dacoity/robbery.
Section :3 Plate Glass ; 4 Neon Sign / Glow Sign & 5: Breakdown of Appliances
Section-6- 6A Electronics Equipments (Installed) &
6B Electronics Equipments (Portable)
Section 7: Money ;
Section 8- Pedal Cycle &
Section 9: Personal Accident
Section-10 : In-fidelity/Dishonesty of Employees
Section-11: Cost of Reinstatement of Data/Programme,
Section 12 : Tenants Legal Liability
Section 13- 13A Legal Liability to Third Party & 13B: Legal liability to The Third Party (Food,
Beverages, Swimming Pool, Saloon, Goods In Custody & Sports And Other Facilities) ,
Section: 14- Workmen’s Compensation.
i) Terrorism, Earthquake damages.
j) The first 5% of each and every claim subject to a minimum of Rs. 10,000/- and
maximum of Rs. 25,000/- in respect of each and every loss arising out of AOG perils
such as lightning, STFI, Earthquake, subsidence and landslide and rockslide and the
first Rs. 10,000/- for each and every loss arising out of other perils (applicable to
Section-I) &
Exclusion applied to each section.

k) Ilegal activity and or any kind of unlawful act. Loss or damage or liability arising out of
violation of any Rules and Regulations of the Govt. or Statutory authorities.
l) War or warlike
m) Loss or damage caused by depreciation or wear and tear.
n) Loss or destruction of or damage to any property whatsoever or any loss or expenses
whatsoever resulting or arising therefrom or any consequential loss.
o) Loss due to ionizing radiations of or contamination by radio activity from any nuclear
fuel or from any nuclear waste or from combustion of nuclear fuel or from any nuclear
weapons, materials.
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Discount On Premium:
Discounts are available if the proposer opts to cover more than the compulsory sections as
follows-
a) Section-IA, B, and Section 2 are compulsory.
b) above plus two sections 10% discount.
c) plus four section 15% discount.
d) plus six sections 20% discount.
Underwriting Guidelines: All such proposals are to be referred to HO for underwriting.

Proposal Forms duly completed in all respects to be submitted.
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L.P. GAS TRADERS’ COMBINED INSURANCE
Salient Features:
LPG Traders’ combined Insurance Policy is a Comprehensive cover of eleven sections
providing insurance protection for a wide range of risks/perils to which LPG Traders are
exposed. Policy to be issued to Owners of Shop, Godown, dealing / storing LPG.
Scope Of Cover:
All sections under this policy are identical to Shopkeepers Insurance Policy.
Sections
Risk Covered Rate
Covered
As per Fire Guide rate [Shop/Godown
Sections - I Fire and Allied Perils
Rate as applicable
Section-II Burglary & Housebreaking 1.5 per mille
Section - III Cylinders-in-transit 5.00 per mille
a) Money-in-transit
a) 2.55 per mille on annual limit.
b) Cash-in-safe
Section -IV b) 2.55 per mille
c) Cash in the custody of Delivery
c) 2.55 per mille
Staff
d) 2.55 per mille
d) Cash-in-Counter/Box
Section - V Fidelity Guarantee 4.00 per mille
a) as per PA Guide Rate
a) Personal Accident for employees
b) Rs. 300/- per year per
Section - VI b)Personal Accident for Customers
1000 customers OR
Rs. 15,000/- CSI per person
Rs. 30 per year per 1000 LPG
Cylinders.
Section - VII Plate Glass 10.05 per mille
Section -VIII Signs 10.05 per mille
Section-IX Cycle Vans 20.05 per mille
Section - X Public Liability As per Market Agreement
Extension /Add-on Covers: Nil
Underwriting guidelines: All proposals are to be referred to DO for approval.

Note: Any injury to partner, proprietor, director or member of managerial staff permanently
working with the dealers to be excluded.
Determination of Sum Insured: Market value/CSI/Limit of Indemnity
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SPECIAL CONTINGENCY POLICY
Special Contingency Policies are meant to be issued for risks which cannot be covered under
standard specific policies. Divisions should forward their requirements to RO along with the
processing sheet duly completed in all respects and with their specific recommendation.
This policy is intended to take care for contingencies, where cover is sought for a number
of perils which are insurable separately under various policies and there does not exist a
Standard Insurance Policy for covering the risk in its entirety.
Note : Special Contingency Policy (SCP):

(1) Duly filled up SCPS format be sent to HO for consideration of SCP proposals. The
cover be granted against named perils and not as per Engineering, CPM and or Fire
policy.
(2) Special care must be taken while underwriting the risks like Cancellation of Cricket
matches, loss of revenue and exhibition of gold & Jewellery. These have to be referred
to GMO/HO prior to quoting rate for the risks. There may be accumulation of risks and
total exposure on us may exceed our risks acceptance authority.
(3) Also note that for these type of risks generally there is limited Treaty R/I covers and
they are written to the net Account of the Company.
General Guidelines :
I) Special Contingency Policies cannot be issued in cases where covers can be granted
under Standard Specific Policies
II) Special Contingency Policies should not be issued to cover exclusions and / or
prohibitions of any of the Standard Policies, Existing Tariffs, Market Agreements, which
exclusions are not intended to be covered at all, not even at additional premium.
III) Special Contingency Policies should not be issued for the purpose of circumventing
Guidelines /Standard Policy restrictions or for competing with the pricing under such
Guidelines Market Agreement for the same set of covers.
IV) In a package cover the erstwhile Tariff requirements both in respect of rates and covers
must be protected for those components of the package which would otherwise be
insurable under the erstwhile Tariff/Market Agreement.
V) No cover should be provided for loss of market, loss of goodwill, anticipated profits,
financial guarantees, contractual guarantees, performance guarantees, fluctuations in
interest rates and/or foreign exchange rates, inflation, political instability etc. Special
Contingency Policies should also not be issued for covering risks relating to Oil and
Energy, loss of rent, loss of keys, Patent rights, operation of model aircrafts etc.
VI) No Special Contingency Policy should be issued without very clear details of ‘Basis of
Valuation’ and ‘Basis of Indemnity’
VII) A deductible excess should be incorporated in all policies to avoid high frequency low
value losses.
VIII) The previous loss experience must necessarily be kept in mind while quoting rates
under Special Contingency Policies.
IX) In case where the Sum Insured chosen for such a policy does not represent the
- 223 -
value of the property/total activity/risk but is based on Insured’s selection of limit of
Indemnity, dual rating has to be restored to. A rate should be applied on the limit of
indemnity chosen and another on the turnover (or some such other variable which will
represent the increase or decrease of exposure) and the aggregate of two components
will constitute the total premium amount.
Examples Of Special Contingency Policies

1. Laptop Computers/Mobile /Electronic Equipments Standard Fire & Special
Perils, theft, burglary, accidental external damage during use, storage, & transit as
accompanied baggage.
2. Exhibitions of Artworks, Jewellery etc.

All Risks & SRCC during transit – Fire, lightning, explosion/implosion, RSMD, STFI,
Earthquake, Landslide, Subsidence, Burglary, Housebreaking, Holdup & theft during
storage/display.
3. Cultural Events & Cricket Matches

Cancellation or abandonment of the event due to occurrence of specified perils
including loss of the event due to occurrence of specified perils including loss of
revenue. The cover for cricket matches ceases the moment the first ball is bowled and
for cultural events the cover ceases as soon as the inauguration commences.
4. Locomotives Wagons, Containers
5. Contractors Mobile Equipments
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CUSTOMS DUTY PACKAGE POLICY (SCP)
Customs Duty Package Policy is specially designed to meet the Insurance requirements
arising out of notification No. 70, 71, & 72/2016-Customs (N.T) for Public, Private & Special
Warehousing Regulations dated 14th May,2016.
The Customs Duty package policy is meant to indemnify by payment of Loss of Customs
Duty to the Beneficiary, Commissioner of Customs on behalf of The President of India arising
out of Warehoused Goods (falling within the above notification) being lost, destroyed or
damaged by any of the Insured Perils stated hereunder:
1) Fire, Lightning, Riot & Strike, Malicious Damage, Aircraft Damage, Impact Damage,
Explosion Damage, Implosion Damage, Missile Testing Operations, Bursting and /or
overflowing of Water Tanks, Apparatus and Pipes, Leakage from Automatic Sprinkler
Installations, Bush Fire, Natural Calamities Earthquake Fire & Shock, Subsidence
& Land Slide including Rock slide, Storm, Cyclone, Typhoon, Tempest, Tsunami,
Hurricane, Tornado, Flood and Inundation) whilst in Insured’s Licensed Warehouse.
2) Burglary, House Breaking, Theft, Robbery, hold-up, Attempted Theft causing damage
to Warehoused Goods, Skillful Pilferage, whilst stored in the premises.
3) Commercial Crime including acts of dishonesty/ infidelity/ crime committed by

employees, agents, representatives, assigns of Insured whist stored in the premises .
4) Marine All Risk as per Inland transit clause A including SRCC (of goods to be
Warehoused) during actual transit from Port/Custom Station to insured Warehouse.
5) Terrorism

For the purpose of rating the goods have been divided in two groups; the group along with
the guide rates are as under:
a) Non-Hazardous – 0.20% to 0.28%
b) Hazardous- including liquor, cigarettes, gadgets, white goods etc – 0.22% to 0.35%
Acceptance limit: is on single storage location

Excess: 2.5% of the Claim Amount Subject to minimum of Rs.1,00,000/-
Note : For the year 2017-18 the U/W Limit based Reinsurance treaty support is INR 130
Cr. (single location)
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LIABILITY INSURANCE (INTRODUCTION)
Special Features Of Liability Policies: -

• Claims paid to the person other than insured.
• Claims paid to the extent of liability determined by common law or statutory body.
• Instead of sum insured, liability limit is expressed
• If negligence is clearly established by evidence, the claim may also be paid without
court verdict.
Important Provisions Of Liability Insurance:

a. Claims Made Basis: Claim incidents which might have occurred during the period
of insurance/retroactive period but notified to the insured and/or reported during the
period of insurance or within the extended reported period in case of non renewed/
cancelled policy. Policies on Occurrence Basis – refer to HO.
b. Damages- Compensation awarded to the claimant for loss sustained.
c. Extended Reporting Period: Where the policy is cancelled/not renewed, the period
after expiry within which claim may be notified/reported. It is normally 15 days and
can be extended upto 90 days without charging extra premium. If extension is required
beyond 90 days 75% of annual premiums to be charged.
d. General Exclusions To All Liability Policies: -

Damage to Own property
Terrorism
WC
War and Nuclear Risk
Known losses and pending litigations
e. Liability Limit (AOO/AOA & AOP or AOY): Any One Occurrence/Accident and Any One
Policy/Year limits are expressed in the ratio of 1:1, 1:2, 1:3 & 1:4. The ratio does not
restrict the number of claims reported in the policy period.
f. Period Of Insurance- the period commencing from the retroactive date and terminating
on the expiry date, the period may be more than 12 months.
g. Policy Period- Means the period commencing from the effective date of the policy to
a maximum period of 12 months.
h. Product- Means tangible property after it has left the custody of the insured.
i. Retroactive Date: It is the first risk acceptance date and when renewed continuously
without break, the intervening period upto the current policy period becomes the
retroactive period of insurance.
j. Right To Defend Clause: Copy of the Notices to be sent to insurer who has the option
to defend the case on behalf of the insured. Duty to defend clause is not to be given.
- 226 -
CARRIERS LEGAL LIABILITY
The Policy indemnifies the Insured against his legal liability for actual physical loss of or
damage to goods or merchandise directly by fire or accident to the vehicle
Carriers liability arises under the Carriers’ Act 1865 whereby under the subrogation the
insurers hold the carriers liable for the loss under the Act.CLL protects the carriers against
the Marine Insurers /consignors. CLL provides indemnity against the legal liability of the
carriers only and not the Consignees/ consignor’s liability under Marine Transit policy.
• Basic Cover-
Damage to the cargo due to fire, explosion, lightning and accident to the vehicle
• Wider Cover-
Basic cover plus Burglary, Malicious Damages, Riot, Strike, Pilferage, short delivery,
theft, flood, water damage, contamination, breakage, leakage and improper handling
of cargo.
• Comprehensive motor policy be taken from the underwriting office where the vehicles
are insured.
• Maintenance of Log book for each vehicle
• Although legal liability, it is not necessary to wait for legal forums verdicts. If liability is
clearly established claim my be paid and settled out of court
• Excess – Rs 5000 per accident
Rate Depends On-

• Liability limit of each vehicle- AOA, AOY
• Basic/ wider cover loading
• Age of the vehicle- upto 5 yrs, 5-10 yrs, >10 yrs
• Licenced carrying capacity
GVW in kgs 508 2032 3048 5080 Every 1016 kg
thereafter
Rate per lakh for 571 627 683 946 112.5
closed vehicles in RS
• Type of vehicle- 50% /100% loading for open/tankers on above rates

• Refridgerated vehicles- Rs 872
• Attachment of trailors- Rs 581 per trailer
• RSMD- Closed- 0.50%, open – 0.75% on liability limit
• Number of vehicles
• Tax extra
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EMPLOYEES COMPENSATION INSURANCE wef 1st April 2012
(Formerly Known as WC Insurance Policy)
Significant changes have been made in the Workmen’s Compensation Act, 1923 vide the
notification dated 18th January 2010 for the Workmen’s Compensation (Amendment) Act,
2009:
1. Workmen’s Compensation Act, 1923 is now called the Employees Compensation Act,
1923.
2. The definition of employee now includes clerical employees & casual employees also.
3. The minimum compensation limits on no-fault basis stand increased to Rs.1,20,000
in case of death, and Rs.1,40,000 in case of permanent disability (erstwhile limits
being Rs. 80,000 & 90,000).
4. To compute compensation payable under the act, the monthly wage limit of Rs. 4,000
has been removed and Central Government has been empowered to specify the
monthly wage limit to be used for determining compensation. Presently, Government
has notified a ceiling of Rs. 8000.( notification no. S O 1258(E) dated 31-5-2010)
5. Funeral expenses limit has been enhanced to Rs.5000 (from Rs.2,500).
6. The employee shall be reimbursed the actual (full) medical expenditure incurred by
him for treatment of injuries caused during the course of employment.- No upper limit.
7. Time limit for disposal of cases relating to compensation has been introduced. The
Commissioner shall dispose of the matter relating to compensation within 3 months
Differences between the WC Policy and the new EC Policy
Particulars New Policy Provision (EC)

Name Name of the Workmen’s Compensation Policy Employees Compensation Policy-
Policy --following the change in the
name of the ACT.
Definitions Policy had no definitions leaving Definitions Section has been
room for ambiguity introduced in the policy for clarity
and transparency
Law and Policy had no mention of Law and Jurisdiction have been
Jurisdiction applicable Law and Jurisdiction specified
Occupational Though the WC Tariff prescribed Policy clearly and transparently
Diseases that occupational diseases were states that occupational diseases
to be covered by way of an are excluded. For professions or
express endorsement, the policy occupations where this cover
itself was silent about coverage of may be required, the same can be
occupational diseases. covered by way of endorsement.
Medical Expenses Though WC Tariff prescribed Policy clearly and transparently
that medical expenses were states that medical expenses are
to be covered for a specified excluded. Where this cover is
amount, on payment of additional required, the same can be taken
premium, by way of an express by way of endorsement.
endorsement, the policy itself
was silent.
- 228 -
Cancellation Clause Policy provided that Insurer can Policy provides that both Insurer
cancel the Policy by giving 7 days and Insured can cancel the Policy
notice to the Insured by giving 15 days notice
Adjustment Clause Policy provided for adjustment of Insured has under the policy a
premium on the basis of actual Duty to Declare any increase in
wages, at the end of the policy Employees and Wages and cover
period. Such adjustment was them on payment of premium.
seldom done leaving gaps in While in case of decrease in
coverage of all employees and for employees or wages, a refund
the full amount of wages. can be obtained. Failure to declare
increase will attract self or under-
insurance.
Average Clause Not provided for Provided in the current policy
on parameters of number of
employees, total wages and
affected employee’s wages, with
the indemnity being equal to the
least amount payable.
General Conditions Maintenance of record of  Modified and made simpler.
Employee/wages .  Misrepresentation/Non
disclosure
Current Policy does not provide  Due Observance of Policy
for these conditions. terms, conditions etc.
 Contribution
 Forfeiture
 Compliance with
manufacturer’s
recommendations and other
safety regulations.
Exclusions Current Policy does not have  Exclusion for accidents
these exclusions which have occurring under the influence
now been included, as these are of intoxicating liquor or drugs.
standard exclusions .  Incapacity / death resulting
from deliberate self injury
or aggravation of accidental
injury: Section 3 (b) (ii) &
(iii) of the Act provides that an
employer shall not be liable for
accidents where the employee
has disobeyed safety
instructions or regulations, or
disregarded the use of safety
devices.
 Nuclear waste and ionising
radiations..
 Interest / penalty imposed
under any law or otherwise.
- 229 -
PREMIUM : It has two components-
Basic premium- which is calculated by multiplying the wages with the guide rate of EC with
loading for manual, non-manual work and additional joint policy & Additional Premium is
calculated considering the type of extensions required and the applicable rates are as stated
below with respect to each type of extensions:-
Premium Rates for the following extensions under EC ( Employees Compensation)

Insurance
1. Medical Expenses:-
The limit stated erstwhile in the Tariff and or in the guidelines are low and hence, it has been
decided to increase the limit considering the increase in cost of medical treatment.
a. Rates: -
Per Employee Aggregate liability for all Additional premium on the basic
limit (Rs.) accidents during the period of premium (% percentage)
Insurance (Rs)
Rs. 25,000/- Rs. 2,50,000/- 10%
Rs. 50,000/- Rs. 5,00,000/- 15%
Rs. 75,000/- Rs. 7,50,000/- 20%
Rs. 1,00,000/- Rs. 10,00,000/- 25%
For higher liability limits, please refer to Head Office.
2. Occupational Diseases: -
a. This extension cover may be available on payment of additional premium.
b. The additional premium is the percentage of the basic premium of the EC.
c. The limits available for Rs. 1,00,000/- per employee to Rs. 5,00,000/- per employee
and in aggregate limit during the policy limit of Rs. 20,00,000/-
d. For higher limit requirements, the matter be referred to HO, Technical Department.
Rates
Per Employee Aggregate liability for all Additional premium on the basic
limit (Rs) accidents during the period of premium (% percentage)
Insurance (Rs)
1,00,000/- 20,00,000/- 20%
2,00,000/- 20,00,000/- 30%
3,00,000/- 20,00,000/- 40%
4,00,000/- 20,00,000/- 50%
5,00,000/- 20,00,000/- 60%
3. Contractors Employees
Premium may be charged as per the EC coverage for their employees and an endorsement
be attached in the policy to cover contractors employees.
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Employee Compensation – Some Guide Rates (For discounts refer to DO/RO)
Rate in Rs.
Trade or Business
Per Mille
Advertising Contractors, Billposters and Distributors 10.33
Agricultural Farm 4.97
Aerated Water Manufacturer 12.84
Aircraft Manufacturer - Pilots and other employees who may at any 103.36
time fly
Aircraft Manufacturer - Wood-working Machinists 25.63
Aircraft Manufacturer All Other Employees 18.19
Aluminium Goods Manufacture - Foundry Hands / Samplers 31.03
Aluminium Goods Manufacturer - All Other Employees 12.84
Aluminium Powder and Paste Manufacturing- Aluminium Powder and 62.01
Paste
Architects- 4.97
Artificial Stone Makers - Not engaged in Buildings 25.63
Asbestos Cement Manufacturer - Application work is done 25.63
Asbestos Cement Manufacturer -Application work not done 10.33
Athletic Gymnastic Fishing and sports goods - Woodworking machinists 25.63
Athletic Gymnastic Fishing and sports goods - All Other Employees 31.03
Aviation firms engaged in flying only- Pilots and employees who fly 82.71
Aviation firms engaged in flying only-2 All Other Employees 10.33
Bakelite and Bakelite Goods Mfg.- Bakelite and Bakelite Goods 10.33
Bakeries and Biscuit factories -Employees engaged with machinery 10.33
Bakeries and Biscuit factories - Employees. Not engaged with machinery 4.97
Bamboo and Bent wood furniture makers- Wood working Machinists 25.63
Bamboo and Bent wood furniture makers- All Other Employees 10.33
Barge, Boat, Launch and Yatch builders - Wood working Machinists 25.63
Barge, Boat, Launch and Yatch builders - All Other Employees 15.73
Barometer, Mathematical, Surgical, Nautical ins - All Employees 4.97
Basket Makers 1 Osier and Willow cutting 15.73
Basket Makers - Woodworking Machinists 25.63
Basket Makers - All Other Employees 7.86
Battery Service Station - All Employees Excluding Battery makers, 12.84
erectors
Bedding, Mattress Manufacturer - Excluding Wire risk 7.86
Bedding, Mattress Manufacturer- Wire Mattresses - Woodworking 25.63
Machinists
Bedding, Mattress Manufacturer - Wire mattress - All other employees 15.73
Billiard Table Makers - Woodworking Machinists 25.63
Billiard Table Makers - All Other Employees 10.33
Bobbin & Shuttle Makers (wooden) - All Other Employees 15.73
Boiler Makers and Repairers - Including Erection 31.03
Boiler Makers and Repairers - Boiler Scalers 62.01
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Bookbinder (with / without machinery) - Book Binder 7.86
Boot and Shoe Dealers, Makers / Repairers - Boot and Shoe makers 15.73
(Wholesale)
Boot and Shoe Manufacturers and Factories( Boot and Shoe makers 4.97
(Retail)
Bricks and Tile Makers - Machinery used - Excluding clay , Blaes getting 20.6
below 6 Meters
Bricks and Tile Makers - Employees engaged in Clay, Blaes getting 31.03
below 6 Meters
Brush Manufacturer- Woodworking Machinists 25.63
Brush Manufacturer- All Other Employees (Excl. Anthrax) 4.97
Brush Manufacturer- All Other Employees (Incl. Anthrax) 7.86
Builders - All employees (Bldg. ht. < 9 Mts) 25.5
Builders -All employees (Bldg. ht. > 9 Mts) 62.01
Builders- Woodworking Machinists 25.63
Builders-Demolition of Buildings 82.71
Cardboard Box and Paper Box makers - Machinists 12.84
Cardboard Box and Paper Box makers - All Other Employees 10.33
Caretakers, Durwans, Chowkidars and Gatekeepers- 4.97
Carpenters, Joiners contractors -Woodworking Machinists 25.63
Carpenters, Joiners contractors - All Other Employees 7.86
Carpet and Rug Makers 1 Sorters - Including Anthrax 20.66
Carpet and Rug Makers 2 Sorters - Excluding Anthrax 10.33
Carvers in Stone, Masons, Monumental Mason - Empl. Other than 20.66
engaged on Building
Caterers – Clubs 3.7
Caterers - Hotels (Indoors ) 3.7
Caterers 3 Hotels (Outdoors) 15.73
Celluloid and Celluloid goods makers - Celluloid and celluloid goods 41.35
makers
Cement Hollow Block Manufacturers - No machinery used 10.33
Cement Hollow Block Manufacturers - any machinery is used 18.19
Cement Works- Cement works 36.38
Chair Makers - Woodworking Machines 25.63
Chair Makers - All other employees 10.33
Chemical Works - Including acid alizarine, alkali, alum, ammonium 15.73
Chemists and Druggists (Mfg.) and Patent Med- Chemists and druggists 6.63
Clerical Staff - Cl.Staff engaged in trade on mercn. empl 2.08
Clothing & Underclothing Mfrs.- Clothing and underclothing manufacturers 4.97
Coach, Carriage, Bus Body & Wgn. Bldrs.- Coach carriage , bus body and 25.63
wagons excluding rail
Coach, Carriage, Bus Body &Wgn.Bldrs.- All other employees 12.84
Coal Merchants and Dealers - Carters and all other employees 38.85
Coir Presses - coir presses -press employees 12.84
Commercial Travellers -Commercial travellers -emp.using m/cy/sc 15.51
- 232 -
CottonGinning & Pressing Factories and Press cotton ginning and press 23.16
at calcutta and Delhi
CottonGinning & Pressing Factories and Press - other regions 10.33
Cotton Godown & Warehouses - 25.63
Crane Drivers - crane drivers 31.03
Cycle & Motor Cycle Makers & Repairers and cycle components and 12.84
accessories makers with or without machinery
Dairies- dairies – wholesale 12.84
Dairies- shop risks 6.63
Die-Cutters and/or Sinkers - die cutter and/or sinkers 18.19
Disinfectant Manufacturers - disinfectant manufacturers 10.33
Distillers – distilleries 10.33
Divers 144.71
Domestic Servants - domestic servant-bearers, sweepers 4.17
Domestic Servants - domestic servant- motor car drivers 20.66
Electrical Engineers (not Mfgrs.) -elec.engin..-work on ship 31.03
Electrical Engineers (not Mfgrs.)- work in gen.stations 18.19
Electric Cables, Makers and Suppliers of Incl.- all work away from shop 51.68
or yard
Electric Sign Makers - elec.sign makers-erection 62.01
Electric Sign Makers - all other work 15.73
Engineers -Bridge Building- Bridge building - Brick stone below 6 mts 31.03
Engineers - Bridge Building - Brick stone over 6 mts. 51.68
Engineers - Bridge Building - Shop or yard risk 36.38
Engineers - Bridge Building - Erection away from shop or yard 51.68
Engineers -not otherwise classified - incl work away from shop or yard 23.16
Excavation Earth Removal and filling and reclai - Excavation, earth 25.63
removal-exclu blasting
Fire Extinguishing Appliances Mfrs. - fire extinguishing appliances makers 20.66
Flour and Dal Mills - flour and dal mills 12.84
Furniture Manufacturers. - Furniture Manfrs. - Sheet metal 25.63
Gold and Silver Thread, Lametta and Lace Mfrs - 12.84
Grain loading / unloading - Where no mech.drvn. machry 15.73
Grain loading / unloading - Where machinery is used 18.19
Grease Manufacturers 1 Grease maker 10.33
Hoseiry Factories - hosiery factories 4.97
Hospitals - hospitals- asylums, clerical and sal. staff 2.08
Hospitals - Nurses, keepers and attendants 7.86
Hotels - hotels-indoor 3.7
Hotels – outdoor 15.73
Insecticides/Pesticide Spraying 20.66
Jewellers, Goldsmith and Silversmiths - jewellers, - retail only 4.97
Jewellers, Goldsmith and Silversmiths - wholesale and manufacturing 7.86
Laundries - where mach.is used 12.84
- 233 -
Laundries - where no machine is used 4.97
Liquified Petroleum Gas Dealers - 10.33
Machineryand Metal – warehouse 20.66
PaperManufacturers - paper mfrs.-hand made only 10.33
Paper Manufacturers - Machine made 25.63
Parcel Deliver Agents, Carriers & Carters - 31.03
Pest Control and Fumigation 20.66
Plastic Goods Manufacturers - plastic goods-excl.colluloid goods 14.03
Resin Manufacturers 31.03
Road Paving and Road Making 25.63
Roofing & Flooring Makers and/or layers, not Roof and floor makers- 25.63
woodworking machinists
Saw Mills and Timber Merchants - Saw mills and timber merchants-all 25.63
empl
Sewer and Road Contractors - Sewer and road contr-open trench <3 25.63
mtrs
Sewer and Road Contractors - open trench work only >3 mtrs 31.03
Sewer and Road Contractors -all risks where blasting and/or tunnelling 62.01
Ship Breakers 82.71
Shop Risks Class A- biscuit 4.17
Shop Risks Class A – book 4.17
Shop Risks Class A – chemists 4.17
Slaters and Tilers (Roofs) where carried on as - slaters and tilers-work on 31.03
roof <9 mtrs.
Slaters and Tilers (Roofs) where carried on as - exceeding 9 meters 51.68
Tools & Machine Tools Mfrs. - tools and mach tools mfgrs.-machine tools 20.66
Toy Makers - toy makers-mfr.of all class.of toys incl 46.33
Veneer Manufacturers - Veneer mfgrs. where carried on sep-wood work 25.63
Veneer Manufacturers - all other empl 10.33
Window Cleaners 82.71
Yarn and Thread Bleachers and Dyers - yarn and thread bleachers and/or 6.63
dyers
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PUBLIC LIABILITY INSURANCE
There are three types of covers that are available under Public Liability Insurance.
1. Act policy
2. Industrial and Storage Risks
3. Non-Industrial Risks
Public Liability (Act) Insurance

The Public Liability Insurance Act, 22nd January ‘1991: G.S.R. 253. -In exercise of the
powers conferred by sub-section (2) of section I of the Public Liability Insurance Act, 1991
(6 of 1991), the Central Government hereby appoints the 1st day of April, 1991 as the date
on which the said Act shall come into force.
As per the Public Liability Insurance Act of 1991 anyone who owns, controls or handles
hazardous chemicals detailed in the provisions of the Act should take Public Liability (Act)
insurance policy.
The Act applies to all owners associated with the production or handling of any hazardous
chemicals.
• To provide for compensation to victims of an accident which occurs as a result of
handling any hazardous substance.
• Exemption- Central Govt, State Govt, Any Corporation owned or controlled by Central
or State Government & Any Local Authority
• Coverage should taken by the persons/organisations who handle hazardous goods
and substances with quantity –
- Toxic Substances (Group-I): - even handling 1 kg may have to take policy.
- Toxic Substance (Group-II): handling 5 tons
- Highly Reactive Substances (Group-III): Handling 5 tons
- Explosive Substances (Group-IV): Handling 5 tons
- Flammable Substances (Group V): Handling 15 tons and above
Compensation:
Compensation to be paid to other than Workman: -
• Reimbursement of Medical Expenses incurred up to maximum of Rs. 12,500/- in each
case
• Fatal accident relief Rs. 25,000/- per person in addition to reimbursement of Medical
Expenses if any incurred Rs. 12,500/-
• Permanent Disablement Rs. 25,000/-
• Partial disablement as per doctors certificate.
• Loss of wages Rs. 1000 PM maximum for 3 months provided hospitalised more than
3 days and age more than 16 years.
• Property damage maximum Rs. 6000/-
• Compensation Application to be made within 5 years to the District Collector where
accident occurs.
• Award to be satisfied within 3 months from the date of Award.
• District Collector arranges to distribute /disburse the claim money.
- 235 -
Scope Of Cover:
Towards damages to the Third Party for-
• Death/injury/disease and Property damage
• Due to accidents including Legal Costs
Indemnity Limits :
AOA (any one Accident) - Not less than the paid up Capital of the insured subject to a
maximum of Rs. 5 crores.
AOY (any one Year) - Three times AOA subject to a maximum Rs. 15 crores.
Premium: As per the schedule below- applied on the limit of indemnity and turnover.
Rate Schedule:
A. On Limit Of Indemnity: (Any One Accident)
Limit of Indemnity (Rs.) Rate per mille
Upto 1.0 lac 0.70
Upto 2.5 lac 0.75
Upto 5.0 lac 0.80
Upto 10.0 lac 0.85
Upto 20.0 lac 0.90
Upto 50 .0 lac 0.95
Upto 100.0 lac 1.00
Upto 250.00 lac 1.05
Upto 500.0 lac 1.10
TURNOVER LOADING:
Turnover Rate
Upto Rs. 1 Crore Rs.0.12 per mille (Min Rs. 12/-)
Exceeding Rs.1 Cr upto Rs. 5 Cr Rs. 1200+0.084 per mille on Rs. 4 Crs.
Exceeding Rs.5 Cr upto Rs. 10 Cr Rs. 4860+0.072 per mille on Rs. 5 cr.
Exceeding Rs.10 Cr upto Rs. 50 Cr Rs. 8160 + 0.060 per mille on Rs.40cr.
Exceeding Rs.50 Cr upto Rs.100 Cr Rs. 32160+0.048 per mille on Rs. 50 cr.
Exceeding Rs.100 Cr upto Rs. 250 Cr Rs. 56160+0.036 per mille on Rs.150 cr.
Exceeding Rs.250 Cr upto Rs. 500 Cr Rs. 110160 +0.010 per mille on balance
exceeding Rs. 250 cr.
Exceeding Rs.500 Cr upto Rs.1000 Cr Rs. 135160 +0.0075 per mille on balance
Exceeding Rs.1000 Cr upto Rs. 2000 Cr Rs. 172660 +0.0050 per mille on balance
Exceeding Rs 2000 Cr Rs 222600 + 0.0025 per mille on turnover
exceeding Rs 2000 crs
Main Exclusions: As per policy
ERF Contribution: An amount equivalent to the premium should be collected along with it, for
contribution towards Environmental Protection Fund. No Tax is payable on the EPF portion.
- 236 -
PUBLIC LIABILITY (INDUSTRIAL/NON INDUSTRIAL)
Covers Third party liability which arises due to the activities of the Insured. The policy can be
issued to the manufacturing/production Industries as well as service Industries.
Public Liability Insurance (Industrial Risks) Policy- issued to cover the clients activities in
the industry, factory, manufacturing units etc.
Public Liability Insurance (Non Industrial Risks) policy-issued other than industrial houses
and mainly to depot, ware houses, godowns, tankfarms, office, contractors jobs, business
premises, amusement parks, conference hall, hotel, pandals, exhibitions, cinema halls,
institutions, schools & houses etc.
Rating Factors (Basics)

Indemnity limits and its ratio 1:1 1:2 1:3 1:4
Turnover
Type of Risk /Activities
Type of construction
Voluntary Excess
Whether PLI Act Policy is in force
In addition to the above-
Loading for extensions, seating capacity (cinema halls/auditorium), gathering (exhibitions/
shopping malls, market place
AOG perils
Pollution (accidental)
Transportation
Effluent discharge through pipelines (indl. risks).
Technical collaboration.
Multilocations –godowns, ware houses
Public Liability (Industrial) Risks

Risk Group-I
Risk Group-II
Risk Group-III
Risk Group-IV
Coverage
Pollution liability-accidental, sudden and unexpected losses only
Carriage of effluents (outside the factory premises- beyond 1 km)
Transportation liability
Technical collaborators liability
Industrial & storage risks
Terrorism
AOG perils
Transportation, accidental pollution, AOG perils and terrorism, goods kept under care and
custody, swimming pool, food & beverages, sports activities
- 237 -
Public Liability (Non-Industrial) Risks
Risk Group-
i Non-hazardous
ii Hazardous
iii Very hazardous &
iv Extra hazardous
Office premises liability
Residential premises liability
Administration premises liability
Medical establishment
Research institute
Laboratories premises liability
Airport premises liability policy (excluding aviation liability)
Cinema hall premises liability
Auditorium/ theatre/ open air theatre liability
Public hall liability policy
School/education institutes liability
Public libraries liability policy
Depots, ware houses/godown liability
Shops and tank farms (hazardous goods transactions) liability
Exhibitions/fairs and feat liability
Stadiums and pandals liability
Film studio/indoor and out door liability
Circus liability
Zoo liability
Permanent amusement park liability
Contractors & maintenance liability
Lift liability
Liability of specified risks like tour operators liability
Extensions:
Transportation, accidental pollution, AOG perils and terrorism, goods kept under care and
custody, swimming pool, food & beverages, sports activities
- 238 -
PRODUCT LIABILITY
Covers third party liability which arises from the uses of the defective product of the insured-
• Legal liability to pay as damages to third party
• Arising out of any defect in the products
• Manufactured and covered under the policy and
• Such product have left the premises
• After the inception of the policy
Sl No Policy
01 Product Liability Of Risk Group-1
Extensions
Vendors- Named & Un-Named
Technical Collaborators Liability
Product Recall, Guarantee & Financial Loss
a. Clients-
Manufacturer, vendors, suppliers, technical collaborators
b. Rating Factors-
Type of Product, Indemnity Limit, AOA/AOY Ratio, Turn Over,
Exporting Countries With Turnover.
Named And UnNamed Vendors.
Jurisdiction/Territory.
Extensions
Claims Experience
Refer To RO With Duly Filled Proposal Form
c. Undesirable Risks- Suppliers/packaging companies where producers have not taken

policy. Manufacturers/producers do not have quality control check, products do not
have guarantee /warranty, motor parts & pharmaceutical and export to USA/Canada.
Product Recall, Guarantee & Financial loss
- 239 -
PROFESSIONAL INDEMNITY
This policy is designed for professionals and firms which covers them in the event of certain
errors of judgement made during the course of their professional work . Policies cover such
things as professional negligence, errors or omissions, breaches of professional duty or
conduct and civil liabilities.
This insurance enables professionals to work without the fear that they may be sued by
a client or a third party for injury or damage that may be caused to them as a result of the
professional services given . In short, it allows professionals to carry out their work with
greater confidence and peace of mind.
Need For Professional Indemnity Insurance

Regardless of the experience that a firm may have, there is always a possibility that
Professionals or their team members could make a mistake. Professional Indemnity
Insurance may be required by Professionals if they
• Handle Data belonging to a client or business: eg, a Chartered Accountant
• Are responsible for client’s intellectual property: eg, an IT Firm
• Advise or guide clients: eg, a Structural or Design Engineer, a Legal Advisor
• Provide professional services, eg: a Doctor or a Surgeon
No matter how large or small an entity providing the professional service, without a
professional indemnity cover the financial position of the service provider could become
vulnerable if a claim is brought against them.
Difference Between Professional Indemnity And Commercial General Liability Insurance

A typical Commercial General lLiability insurance policy will only respond to a bodily injury,
property damage, personal injury or advertising injury claim. Other forms of Liability
insurance covers employers, public and product liability.
But professional services can give rise to legal claims without causing any bodily injury,
property damage etc covered by other Liability policies. Common claims of professional
liability insurance arise from negligence, misrepresentation, violation of good faith and fair
dealing, and inaccurate advice.
Examples: Professional Indemnity Policies On Claim Made Basis - Explained
Two concepts that have to be understood here is the ‘Policy period’ and ‘Period of Insurance’.
Period of Insurance is the number of years a policy was in existence without break; this may
be with the same insurer or different insurers. Policy period is the particular period (say 12
months) that a policy was in force.
Professional liability insurance policies are generally issued on a claims-made basis,

meaning that the policy only covers claims made during the policy period.
More specifically a typical policy will provide indemnity to the insured against loss arising
from any claim or claims made during the policy period by reason of any covered error,
omission or negligent act committed in the conduct of the insured’s professional business
during the policy period.
- 240 -
Some policies may have a retroactive date; this covers claims made during the ‘policy
period’ but which relate to an incident (so far not known to the insured or not notified) that
occurred during an uninterrupted ‘period of insurance’ and covered within the the retroactive
period mentioned in the policy
Who Can Take The Policy

The following group of professionals can avail professional indemnity insurance :
• Medical practitioners such as physicians, surgeons, cardiologists, pathologists,
Anaesthetists etc
• Engineers, architects, contractors and interior decorators
• Medical establishments such as hospitals and nursing homes
• Lawyers, Advocates, solicitors and counsels Chartered accountants, management
consultants and financial accountants
Professional Indemnity Policy Coverages And Extensions

Insuring Clause : Breach of Professional Duties
Insurers agree to indemnify the Insured against any Claim for civil liability arising from a
breach of professional duty while in the conduct of the Professional Business first made
against the Insured during the Period of Insurance. It covers Professional Liability arising
from:
• failure to perform a professional service
• Loss of document
• Defamation
• Joint Ventures
• Vicarious Liability cover
• Defence costs
Extensions:
• Intellectual Property rights
• Consultants, Contractors & Agents (Vicarious Liability)
• Costs of Official Inquiries
• Extended Reporting Period- when policy is not renewed
• Joint Ventures
• Fidelity
• Previous Business (Optional)
• Heirs, Estates and Legal Representatives
• Loss Mitigation & Rectification
• Principal’s Indemnity
• Reputation Protection Expenses
• Contractual Liability
• Administrators and Executors
• Advancement of Defence Cost
• Automatic Inclusion of New Subsidiaries:
• Continuous Cover
• Court Attendance
• Domestic Partners
- 241 -
• Emergency Costs Advancement
• External Dispute Resolution
• Non-Renewal Discovery Periods
• Authorised Representatives
• Breach of Privacy
• Employment Practices Liability
General Exclusions:
• Criminal Act
• Intentional and Willful Acts
• Loss of goodwill and loss of market
• Delay in delivery
• Criminal, Malicious and dishonest acts except covered as an extensions.
• Insolvency and Bankruptcy
• Claim of group company/associate company
• Anti trust claims
• Known losses and pending litigations
• Long term policy ( policy more than 12 months )
• Fines & Penalties & Punitive damages
• Governmental & Regulatory Orders
• Policies other than claims made & unlimited liability
Underwriting And Rating Considerations

• Duly filled in, stamped and Signed Proposal Form
• Individual/Partners/Company Profile
• Copy of Contract for project specific policy
• Total turnover/revenue for last 3 years
• Past Losses
Policy premium dependent on following factors

• Indemnity limits for Any one Accident and Any one Year to be chosen by client in one
of the following ratios :- 1:1, 1:2, 1:3, 1:4.
• Annual fees / revenue of insured
• Jurisdiction : India, USA/Canada, Other than USA/Canada
• Extensions and sub limits required
• Period of cover- eg Long term Project PI for contractors.
Minimum Excess Under PI & E&O Insurance

• 0.25% on AOO limit subject to minimum of Rs 25000 and maximum of Rs 10,00,000
in India.
• 0.50% of AOO limit subject to minimum of Rs 1,00,000 and maximum of Rs 15,00,000
ROW excluding USA/Canada
- 242 -
• 1%of AOO limit subject to minimum of Rs 5,00,000 maximum of Rs 50,00,000 for
each and every loss in USA / Canada.
The following are the common types of policies available:
1. Doctors And Medical Practitioners:

Schedule Of Rates
Rate Per Mille on AOY Limits
Category
1:1 1:2 1:3 1:4
Physicians without dispensing and other facilities, 0.50 0.40 0.35 0.30
General Pathologist, Radiologist
Specialists / Consulting Physician (Non-surgical) 1.00 0.80 0.70 0.60
Surgeons (excluding specialists in Plastic 2.00 1.60 1.40 1.20
Surgery) Lithotripsy, Dentists & Similar extra
Corporal methods of treatment would fall within
this category
Surgeons (Plastic Surgery) and Anesthetists 3.00 2.40 2.10 1.80
Minimum Premium Rs. 100/-

• No Compulsory or Voluntary Deductibles are applicable.
• Whenever Doctors wish to cover unqualified staff working with them, the same may be
allowed by collecting additional premium of 7.5% of the indemnity premium.
• Wherever multiple professional specialisations are involved, then the rate applicable
will be that of the specialisation which attracts the higher premium rates.
Diagnostic Centre:
When a Diagnostic Centre can be classified as a medical establishment as per parameter laid
down in the market agreement, the same shall be rated as medical establishment.
2. Medical Establishment (Errors & Omissions Policy)

Policy Schedule to show only Annual limit.
Claim in respect of any one person is limited to 25 percent of AOY limits.
Schedule Of Rates
Category RATE PER MILLE on AOY Limits
1:1 1:2 1:3 1:4
Basic Rate 3.00% 2.40% 2.10% 1.80%
Plus
Per Inpatient 5.00 5.00 5.00 5.00
Per Outpatient 1.00 1.00 1.00 1.00
(Number of patients to be as per previous years record or the anticipated no. of patients
during the year whichever is higher)
Radioactive treatment:(other than X-Ray): Additional Premium of 15% on total Premium

For employment of Un-qualified Nurses / Para Medical Staff/ Technical Staff : Additional
Premium of 7.5% of Indemnity Premium
- 243 -
Total Premium including all extras shall be subject to a maximum of 5% of AOY limit.
Excess: 0.25% of the AOY limit subject to minimum of Rs. 1000/- and a maximum of
Rs. 1,00,000/-
Minimum Premium under one policy: Rs. 1000/-
Medical establishment shall be registered with competent authority as per the local
regulations. In territories where no registration facilities exist, the following minimum norms
need to be complied with for consideration of the proposal.
The establishment should have:

1) At least 10 inpatient facility
2) A fully equipped operation theatre of its own.
3) A fully qualified Nursing staff in its employment round the clock, unless indicated to the
contrary and additional premium paid.
4) Fully qualified Doctors should be in charge, round the clock.
3. Lawyers, Advocates, Solicitors And Counsels

Policy covers legal liability of the insured and his predecessors and named employees,
partners, in respect of acts committed after the retroactive date. The liability has to
arise as a result of acts committed during the period of insurance commencing from
the retroactive date.
Rate
AOA : AOY 1:1 1:2 1:3 1:4
Rate on AOY limit 8.35% 6.70% 5.85% 5.00%
Rs. 150 per capita for qualified persons including Juniors, Plus Rs. 50 per capita for other
like clerks, stenos, typists etc.
4. Chartered Accountants, Financial Consultants And Mangement Consultants

Rate
AOA : AOY 1:1 1:2 1:3 1:4
Rate on AOY limit 6.7%o 5.35%o 4.7%o 4.00%o
Rs.100/- per capita for qualified persons Plus

Rs.50/- per capita for apprentices etc..
Rs.25/- per capita for others like clerks, stenographers, typists etc..
Scope of Cover :
Policy covers legal liability the insured could incur by way of losses to clients arising from
acts of omissions or errors on the part of the insured or his paid employees named in the
proposal. The acts committed should be in the course of rendering professional services.
5. Contractors /Sub -Contractors

The contractors / Sub-contractors may be advised to take SCE/CAR policy and go for
T.P.L. extension under the policy.
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In cases where only. T.P.L. cover is required a rate of Rs. 3%o (per mille) on AOP limit
+ 0.10%o (per mille) on the estimated turn over/ contract value or the previous years
turn over, which ever is higher, may be applied.
If the contractor / sub-contractor has taken a project insurance policy under the
engineering department but is insistent upon TPL cover only, such TPL cover should
not be granted in isolation.

However, in cases where the applicable TPL rate as per SCE/CAR policy works out
higher than the rate stated above, this higher rate would be applicable.
Public Liability policy for non-industrial risks may be issued in such cases. The above
guidelines apply up to underwriting limits of RO only
6. Engineers, Architects And Interior Decorators

Rate
AOA : AOY 1:1 1:2 1:3 1:4
Rate on AOY limit 12.5%o 10.00%o 8.75%o 7.50%o
Plus Rs. 1%o of annual fees.

Minimum Premium under the policy is Rs. 1000/-
7. Other Liability Policies: most potential ones for the Future

a. Cyber Liability-
Covers the Liability arising from the Cyber activities including reputational injury/loss &
conduit loss/injury, impaired access injury and disclosure injuries resulting from cyber
attack.
b. Media Liability-
covers claims against defamation, invasion of privacy, trademarks and copyrights
c. Clinical Trial-
covers the liability arising during the trial on the human beings.
d. Stevedors Liability-
covers the liability of the stevedors which may arise while handling the goods.
e. Clearing & Forwarding/Multimodal Transporters/Goods Clearing Agents Liability-
Covers the liability while handling the goods (mainly export/import) in ports/airports
area.
f. Couriers Liability –
liability arising as bailee during acceptance storage and delivery of the goods to the
destination points.
g. Crime Insurance-
This is a combination of FG and burglary policy.
h. POSI (Public Offerings of Security Insurance),
Covers the prospectus liability of the directors and officers.
i. EPLI (Employment Practice Liability Insurance),
Covers Liability arising from the wrongful termination of the employees.
j. Customs/Bonded Ware Houses Liability
Provides comprehensive coverage for customs Duty payable on goods lying in the
bonded warehouses of the customs authorities.
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COMMERCIAL GENERAL LIABILITY
Commercial General Liability (CGL) insurance protects business owners against claims of
liability for bodily injury, property damage, and personal and advertising injury (slander and
false advertising).
Premises/operations coverage pays for bodily injury or property damage that occurs on
insured’s premises or as a result of the business operations.
Products/completed operations coverage pays for bodily injury and property damage that
occurs away from the business premises and is caused by insured’s products or completed
work.
Without a commercial general liability insurance policy, business is vulnerable to lawsuits

that could have a devastating impact on day-to-day operations. As our society becomes
more and more litigious, it is important to protect business with appropriate liability insurance
policies.
Types of liability covered by a CGL policy

CGL policy covers a wide range of liability loss exposures of commercial organizations. The
loss exposures come under following broad categories:
1. Premises and Operations Liability Risks - Any claim for legal liability arising due to
an accident causing Bodily Injury and Property Damage to third parties arising from
Manufacturing Operations, Pollution, Transportation, AOG Perils
• Coverage A – Bodily Injury & Property damage
• Coverage B – Personal & Advertising injury
• Coverage C – Medical Expenses
• Coverage D – Fire Damage to rented premises
• Coverage D – Secondary Auto Liability
• Coverage E – Employer’s Liability
2. Products and completed operations Liability Risks - Product liability covers bodily
injury and property damage including defense costs arising out of defect in the product
manufactured after it has left the custody/control of the insured.
3. Limited Contractual liability
4. Personal and Advertising injury liability arising out of False arrest, detention or
imprisonment, Malicious Prosecution, wrongful eviction or wrongful entry, Defamation
libel or Slander including Product Disparagement, verbal or written publication that
violates person’s right of privacy, the use of another’s advertising idea in your
advertisement; or Infringing upon another’s copyright, trade dress or slogan in your
advertisement.
5. Medical payments made regardless of fault. Medical expenses are payable for bodily
injury caused by an accident on premises owned or rented or next to the premises of
the insured or rented because of the insured’s operations.
6. Product Recall caused by – Accidental omission, introduction/substitution of a
component or a substance during manufacturing, error in the manufacturing, blending,
mixing, packaging, labeling or storage. It covers cost to inspect, withdraw or destroy
the product including Communication (radio, TV ads), Shipping from purchaser,
distributor or user, Overtime & additional costs, Storage & redistribution costs, Recall
consultants costs, Costs of examination & reworking of recalled products (given to
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customers of commercial importance only).
7. Supplementary Payments
a) Claim adjustment expenses.
b) Reasonable expenses (other than claim adjustment expenses) incurred by the
insured at our request to assist us in the investigation or defence of such claim or
suit, including actual loss of earnings because of time off from work.
c) Interest on the full amount of a judgment that accrues after entry of the judgment and
before we have paid, offered to pay or deposited in court the part of the judgment that
is within the applicable Limit of Insurance.
Extensions sought under the Policy :

Investigations Defence & Settlements:
Products & Completed Operations Cover:
Liquor Liability
Incidental Medical Malpractices Coverage as per Endorsement
Recall of Products, Work or Impaired Property
Personal and Advertising Injury Liability
Additional Insured Endorsement
Batch Clause
Cross Liability Coverage
Claims Series Clause
Care, Custody & Control
Defective Sanitary Installation Endorsement
Employee’s Effects Endorsement
First Aid Facilities Endorsement
Food and Drink Endorsement
Lift, Elevator, Escalator, Hoist or Crane Endorsement
Loading and Unloading of Vehicle Endorsement
Neon Advertising Signs Endorsement
Non-Owned & Hired Automobiles Endorsement
Plant & Machinery Clause
Tenants Legal Liability Endorsement
Worldwide Extension for Executives on Travel Endorsement
Valet Parking
Additional Insured
Seventy two hours Sudden & Accidental Pollution
Principal Liability Extension
Automatic Inclusion of New Subsidiaries
Exclusions:
Public/Product Liability – willful or intentional non-compliance of statutory provisions
Loss of pure financial nature viz loss of goodwill, loss of market.
Liability insured elsewhere
Liability under contract of employment
Personal & advt injury exclusions
Knowing Violation of Rights of Another
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Material Published with Knowledge of Falsity
Material Published Prior to Policy Period
Criminal Act committed at the direction of insured.
Underwriting Guidelines:
1. Product Liability extension to be given only to manufacturers
2. Proposals with US/Canada exposure to be examined with extra care
3. New Proposals with very long retroactive dates to be checked thoroughly for cases
and circumstances known to the proposer
4. Proposals from IT, Pharma, Auto to be handled with caution
Guide Rates and Criteria :

Type of Industry, Jurisdiction, Premises location, Product type, Sales- domestic or exports,
Exposure, Limits, sub-limits in proposed extensions, Revenue/Turnover, Retro period,
incidents and claims experience.
Duly filled Proposals to be referred to Regional Office for quoting of rate and terms.
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DIRECTORS AND OFFICER’S LIABILITY
What Is D&O Insurance Liability

A specialty line of Professional Liability Insurance that protects Directors and Officers from
liability arising from their actions (or inaction)/ wrongful acts done in their corporate or
organizational capacities. This policy is designed to respond to claims of alleged errors in
judgment, breach of duty, or other wrongful acts committed by the Directors and Officers in
their capacities as such.
The Directors and Officers manage the assets and day to day affairs of the company. They
act as trustees of the Company’s assets and because they take decisions on behalf of
the Company, they have a legal obligation to ensure that their actions are bona fide and
for the benefit of the Company. Directors and Officers are personally liable to pay losses
suffered by the Company, the Shareholders or other third parties following an act which is
either wrongful, outside the Company’s authority, beyond their power, or which evidences
insufficient skill and care in managing the Company’s affairs.
Directors and Officers have to ensure great personal accountability, deemed knowledge of
regulations, corporate governance adherence, Duty of care, due diligence, strict monitoring
and supervision which if not adequate, there are chances of personal litigations against the
Directors and Officers.
Policy To Be Issued On Claims Made Basis Only-(covering claims made on the insured
during the policy period for incidents occuring during the current or retroactive period).
Who Is The Insured Person

• All Directors of the Insured Organization including Non-Executive Directors.
• All Authorized Officers (KEY PERSONS) in the Organization including Managers &
Company Secretary.
• Past Directors & Officers including Retired Directors
• New Positions created after policy inception
• Group Coverage:
The policy will apply to the holding board, all subsidiary boards, positions on external
boards which are held by any Insured Persons purely at the request of the Insured
Organization in order to protect its interests (Outside Directorship). Acquisitions if any,
will have to be intimated to Insurer.
Who Can Bring An Action- Potential Claimants

• Government or Regulatory Bodies
• Shareholders
• Employees
• Directors
• The Official Receiver / Liquidator
• Customers
• Competitors
• The Public
• The Company
• Creditors
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What Is A “Wrongful Act”
1) Any error
2) Misstatement
3) Misleading statement
4) Act, omission, neglect
5) Breach of duty, breach of trust or breach of warranty of authority
6) Employment related Disputes - means any claim to a past present or prospective
employee of the company and arising out of any actual or alleged unfair or wrongful
dismissal, discharge or termination, either actual or constructive, employment-related
misrepresentation, wrongful failure to employ or promote, wrongful deprivation of
career opportunities, wrongful discipline; failure to grant tenure or negligent employee
evaluation; or sexual or workplace or racial or disability harassment of any kind or
unlawful discrimination, whether direct, indirect, intentional or unintentional, or failure
to provide adequate employee policies and procedures, violation of any state law
concerning discrimination.
Type Of Allegations Against Directors & Officers. (e.g.) - Potential Claims

By Shareholders
• Inadequate or inaccurate disclosures
• Financial Performance and Bankruptcy
• Financial Reporting
• Gross Mismanagement
• Conflict of Interest
• Dishonesty or Fraud
• Investment or Loan Decision
Employees
• Breach of Employment Contract
• Employment Practices Liability - discrimination, sexual harassment, unfair dismissal,
invasion of privacy, failure to provide a proper or safe working environment.
Customers And Clients

• Lender Liability
• Deceptive Trade Practices
• Product or Service related claims
Competitors/ Clients
• Antitrust
• Copyright and Patent Infringement
• Business Interference
• Product and company defamation
• Deceptive Trade Practice
Government And Regulators

• Dishonesty and Fraud
• Securities Violation
The Law permits the employer-company to indemnify director as long as he is successful

in his defense. Beyond that the individual is on his own. Therefore the personal fortune
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of director is at peril. Insurance is therefore an effective risk transfer mechanism for this
contingency. Though the D&O Policy is purchased by the employer i.e. Insured, it protects
the interest of individual Directors / Officers (Insured Person) and hence becomes a sort of a
personal policy. Directors & Officers need protection because their liability could be unlimited
and personal wealth would be at stake.
D & O Coverages And Extensions Under The Policy

Side-A insurance clause- D&O liability clause
It provides coverage for individual directors in respect of loss for their wrongful acts carried
out in their capacity as a director of the company in circumstances where the company is
unable to indemnify the director. For example, an insolvent company is unable to indemnify
the directors.
It is normal practice that a deductible will not apply to the Side-A insuring clause.
Side-B insurance clause- Company Reimbursement clause

This clause operates in circumstances when the company can indemnify the directors in
respect of loss arising from their wrongful acts.
If this clause is invoked then a claim is likely to be subject to the applicable deductible under
the policy.
Side-C insurance clause- Entity coverage for EPLI and Securities

The Side-C insurance clause is commonly referred to as the “corporate entity clause”. This
clause will provide coverage for the company in respect of its corporate liability. Historically
this clause would only cover the defence costs associated with securities claims. This
insurance clause has now been broadened to include coverage for loss and defence costs
for securities claims.
Exclusions
Wilful / Intentional / Dishonest or Fraudulent Acts
Property Damage / Bodily Injury
Pollution, Seepage or Contamination (Carve back for Defence Costs)
Insider Trading
Prior and Pending Acts / Claims/ Litigations
Insured Vs Insured (e.g. Directors suing each other) (Carve back for
Defence Costs)
Professional Indemnity (Carve back for failure to supervise)
Fines & Penalties Exclusion
Major Shareholder - 15%
Violation of Employment Retirement Income Security Act (ERISA)
IPO Exclusion
War & Terrorism Exclusion
IPR Exclusion
Commission & Bribes Exclusion
SEC Exclusion (Securities Exchange Commission)
Insolvency Exclusion
Tax Liability Exclusion
- 251 -
Extensions Sought Under The Policy :
Entity coverage:
1) Entity EPLI- It provides protection for an employer against claims made by
employees, former employees, or potential employees. It covers discrimination (age, sex,
race, disability, etc.), wrongful termination of employment, sexual harassment, and other
employment-related allegations. It covers the firm, including its Directors and Officers.
2) Bail Bond and Civil Bond Premium- sub limited
3) Automatic Inclusion of New Subsidiaries- provided the new subsidiary has total
gross assets of not more than 10/15% of the total consolidated assets of the policyholder
at inception and is not US listed and US domiciled. In other cases, request for extension
with additional premium.
4) Bankruptcy trustee carve back - Heirs, Estates and Legal Representatives
5) Legal Representation Expenses (Formal Investigation)
6) Bilateral Extended Reporting Period
7) Defence Costs Advancement- A provision in directors and officers liability policies
obligating the insurer to pay defense and indemnity costs as incurred – Sublimited –
generally done against a Bank Guarantee
8) Environmental Extension – (Defence Costs only)
9) Extradition Costs / Proceedings
10) International Jurisdiction Extension
11) Investigation Endorsement- costs incurred by the company with insurer’s prior
approval for conducting internal investigations in the event of legal action/litigation against
insured persons – sub-limited
12) Kidnap response costs- Kidnap Response Consultants costs for negotiating the
ransom money in case insured person is kidnapped while he is outside his country of
residence in the course of employment.
13) Loss to include punitive and exemplary damages
14) Non Rescind for bankruptcy
15) Non Rescind for misrepresentation
16) Occupational Health & Safety Defence Costs
17) Order of Payments
18) Outside Directors Liability- This extension provides coverage for situations in which
the company and its board has specifically requested that a director or officer sit on the
board of another outside entity. Coverage is normally extended to non-profit organizations,
but can also be extended to include, on a limited basis, for-profit boards.
19) Pollution Defence Costs – sub limited
20) Pollution Exclusion carve back for shareholders
21) Prosecution Costs:- costs incurred for reversal of judicial order seeking confiscation,
assumption of ownership and control, suspension or freezing of rights of ownership of real
property or personal assets of insured Director, prohibition (temporary or permanent) from
holding the office or performing the functions of a Director, restriction of insured person’s
liberty to a specified domestic residence or official detention, deportation following
revocation of valid immigration status, extradition of insured person.
22) Public Relations Expenses/ Reputation Damage- Sub-limited – paid only in the event
the director is exonerated from liability.
23) Retired Directors Discovery Period (7 Years)
24) Reasonable fees, costs and expenses
25) Regulatory Crisis Response
26) Shareholder Pollution Action
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27) Special Excess Protection for Directors- sub-limited – over and above the limit of
indemnity, all other applicable insurance, all other indemnification for loss available.
28) Spouses, Heirs & Representatives- Since acts by the insured’s are based on personal
liability, a claim outlives a director or officer. For that reason, the coverage usually
extends to heirs, estates and legal representatives. There may be a spousal extension
as well. This covers situations where assets have been transferred to a spouse to hide
them from a judgment.
D & O Underwriting & Rating Factors

Based on the Proposal form and information gathered from the proposing company’s
website
1) The Company
• Type
• Size
• Market
• Products and Activities
• History
• Turnover and Gross Assets
• Brand Profile and quality
• Business diversity and diversification
• Any Recent Major Merger or Restructuring
2) Finance
• Public or Private
• Stock Exchange Listings
• Financial Strength
3) Ownership
• Shareholdings and share structure
• Share Price Volatility and performance
4) Territory
• Origin and the Trading areas
5) The Directors
• Number to be Insured
• Boards and their composition
• Details of individuals
6) Advisers
• Accountants
• Auditors
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• Bankers
• Lawyers etc.
7) Cover
• Scope of Cover
• Indemnity limit required
• Deductibles
8) D & O Claims History

Guide Rate : varies from a minimum of 0.35% upwards depending on u/w factors and
extensions
Proposal to be referred to RO/HO for quote.
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CYBER LIABILITY INSURANCE
The World today is technology dependent, the infrastructure, the users, and the services
offered on computer networks are all subject to a wide variety of risks posed by threats that
include distributed denial of service, attacks, intrusions of various kinds, eavesdropping,
hacking, phishing, worms, viruses, spams, etc. In order to counter the risk posed by these
threats, network users have traditionally resorted to antivirus and anti-spam software,
firewalls, intrusion-detection systems (IDSs), and other add-ons to reduce the likelihood of
being affected by threats.
In spite of improvements in risk protection techniques over the last decade due to hardware,
software and cryptographic methodologies, it is impossible to achieve perfect/near-perfect
cyber-security protection. In view of the above-mentioned inevitable barriers to near 100%
risk mitigation, the need arises for alternative methods for risk management in cyberspace.
Cyber Liability Insurance is the tool of risk management which protects commercial
business against a wide range of first and third party liability from cyber exposures.
The Broad Coverages under the policy is as under:

First Party Losses
• Business Interruption
• Reputation Costs
• System and Data Reconstruction / Rectification costs
• Response Costs which shall include forensic services, notifications costs and
monitoring costs etc.
• Increased costs of working
• Cyber Theft
• Telephone Phreaking
Third Party Losses

• Privacy Protection which shall include breach of duty to maintain the security or
confidentiality of personal data and commercial information, breach, violation or
infringement of right of privacy, consumer data protection law etc.
• Media Liability which shall include third party claims for defamation, unintentional
infringement of copyright, trade mark, title, slogan, trademark, trade name, service
name or domain name, plagiarism, piracy or misappropriation or theft of ideas or
information; invasion, infringement or interference with rights of privacy or publicity,
unfair competition, and liability arising out of the Insured’s negligence in respect of any
digital media content.
• Failure to maintain Network Security shall include losses which arise out of a Claim
by a Third Party against the Insured , caused by any act, error or omission by the
Insured resulting in:
a) the introduction of any unauthorized software, computer code or virus to Third Party
Data on the Company’s Computer System
b) the denial of access to an authorized Third Party to its Data;
c) the wrongful appropriation of a network access code from the Company;
- 255 -
d) the destruction, modification, corruption, damage or deletion of Third Party Data
stored on any Computer System
e) The disclosure of Third Party Data by an employee of the Company.
Add On:
Outsourcing Liability
Cyber Extortion
Regulatory Investigation and Fines
Duly filled proposal forms to be sent to Regional Office for rates and terms
- 256 -
HEALTH INSURANCE
NATIONAL MEDICLAIM POLICY
Coverage: (For complete details, please refer the policy bond)

Covers Hospitalisation expenses under the following heads.
1. Room Boarding and Nursing charges and others 25% of the Sum Insured any one
illness. Sublimit for room charges 1% of SI and for ICU 2% of SI.
2. Medical practitioners surgeons anaesthetist consultants and specialists fees : 25% of
the SI any one illness.
3. Anaesthesia, blood, oxygen etc: 50% of the SI any one illness
4. Ambulance charges restricted to 1% of the SI subject to a max of Rs. 2000 in a policy
period.
5. Day care procedure for 140 plus procedures
6. Pre and Post hospitalization for 30 and 60 days respectively
7. Ayurveda and Homeopathy treatments restricted to 20% of the SI
Some General Exclusions:

a. Pre-existing diseases 48 months.
b. First 30 days waiting period
c. Specific waiting period of one year for 2 named diseases, 2 years 20 named diseases
and 4 years 2 named diseases.
d. Some Expenses not covered for reimbursement are specified.
e. Some permanent exclusions, like HIV, AIDs, diseases resulting from drug/alcohol
abuses, cosmetic surgery, massage/spa etc.
Cumulative Bonus (CB)

Sum Insured will be increased by 5% in respect of each claim free years upto a maximum
of 50% of Sum Insured excluding CB under the current policy period.In case of a claim under
the policy in respect of the insured person who has earned CB ,the same will be reduced
by 5%
Health Check Up Costs-

Expenses of health check up will be reimbursed once at the end of a block of four continuous
policy period provided no claims reported during these four years. Expenses payable is a
maximum of 1% of average Sum Insured excluding CB for the block of four years. Health
check up cost reimbursement should be claimed within 45 days of the 5th policy year.
Eligibility:
Policy can be availed by person between the age 18 to 65 years.
Children can be covered between the ages of 3 months to 18 years, provided parents are
also covered under the policy.
Policy can be availed for self , spouse and dependent children/brother/sister upto the age
of 18 years,. (Upto 25 years in case of a bonafide student and not employed and in case of
dependent female child/sister, upto marriage), Parents and Parents in law.
Sum Insured:
a. Sum Insured ranges from Rs. 50,000/- to Rs. 5 lacs in multiples of Rs. 25,000/-
- 257 -
b. Sum Insured for each family member may vary.
c. Senior Citizen having Sum Insured Rs. 15,000/- & Rs.45,000/- in multiple of Rs.
5,000/- may continue with the Sum Insured on payment of revised premium or may
opt for higher Sum Insured between Rs,50,000/- to Rs. 5 lacs,
Enhancement Of Sum Insured:

Sum Insured can be enhanced only at the time of renewal at the discretion of the insurer. For
the increased Sum Insured the waiting period will be as per exclusions 4.1, 2 & 3. Coverage
for the enhanced Sum Insured will be available after the completion of waiting periods.
Pre-Policy Check-Up-
Pre policy check up is required for the person aged 50 or more for first time insurance
including midterm inclusion cases.Investigation reports required are (valid for 30 days
from the date of issue)-
1. Physical examination report (to be signed by the doctors with minimum MD
qualification)
2. Blood Sugar, Fasting and Post Prandal
3. Lipid profile
4. Serum creatinine
5. Urine routine and microscopic examination.
6. ECG
7. Eye Check up with Retinoscopy
Company will pay 50% investigation cost subject to acceptance of proposal and payment
of premium. Pre acceptance check up is not required if the person proposed to be covered
is below 50 years, or if the policy is being ported without break, and Senior citizens moving
from the old individual mediclaim policy to the National Medicllaim policy.
Payment Of Premium And Renewal Of Policy:

1. Policy can be purchased through on line from http//niconline.in
2. From the offices
3. From the Agents/Brokers.
4. Policy can be renewed annually &lifelong
Premium: Premium Chart with TPA charges

SI’ in 0-5
6-25 26-35 36-45 46-55 56-59 60-65 66-70 71-75 76-80 81-85 86+
000 AGE>
50 907 881 1057 1490 2158 2973 3149 4116 4411 5443 5987 6532
75 1121 1089 1346 1696 2568 3596 4560 5950 6373 7849 8634 9419
100 1357 1317 1541 1952 3082 4623 6100 7956 8524 10550 11605 12660
125 1584 1538 1747 2536 4140 5651 7095 8393 9621 13048 14740 16080
150 1958 1901 2194 2876 4826 6370 7989 9413 10685 14610 17278 18880
175 2328 2261 2448 3628 5526 7976 8865 10402 11698 16121 19004 20733
200 2487 2420 2766 4002 5738 8862 9728 11372 12841 17598 20680 22530
225 2646 2509 2969 4214 6216 9755 10585 12329 13798 19051 22321 24283
250 2751 2671 3185 4315 7730 10069 11440 13277 14732 20489 23935 26002
275 2911 2825 3390 4932 8219 11302 12194 14220 15648 21915 25530 27699
300 3175 3082 3719 5240 8938 12292 12942 15058 16550 23336 27111 29377
- 258 -
SI’ in 0-5
6-25 26-35 36-45 46-55 56-59 60-65 66-70 71-75 76-80 81-85 86+
000 AGE>
325 3280 3185 3977 5959 9452 12647 13684 15994 17439 24754 28682 31041
350 3386 3287 4238 6165 10069 13562 14423 16930 18319 26170 30247 32694
375 3703 3596 4502 6678 11076 14662 15159 17869 19192 27587 31807 34340
400 4021 3904 4887 6987 11405 15206 15894 18929 20295 29006 33365 35982
425 4232 4109 4983 7191 11917 16342 16627 19756 21165 30429 34923 37619
450 4445 4315 5209 7397 12585 16952 17235 20582 22030 31858 36482 39256
475 4657 4521 5365 7808 13356 17671 17836 21404 22893 33292 38043 40893
500 4762 4623 5517 8219 13870 18521 18566 22225 23752 34733 39607 42531
Family Discount:
Family discount of 10% is allowed if the policy is purchased for the self and any one of the
eligible famiy members.
Portability:
Insureds are allowed to port from one policy to another within the Company or inter
Companies for which application should be made before 45 days of the expiry of the existing
policy. In case the person is covered under a Group policy of a particular Company, it is
essential that he/she ports to an individual/family floater policy of the same company for one
year and then port to another Company if required.
Free Look Period:

The policy has a free look period of 15 days within which the insured may opt out of the
same if not satisfied. For details of refund, please refer the policy bond.
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NATIONAL MEDICLAIM PLUS POLICY
Coverages
Section I: Hospitalisation Expenses as an inpatient. Treatment for Allopathy, Homeopathy

& Ayurveda and 140+ day care, Pre and Post Hospitaisation are covered , The Policy
comes in three plans A, B and C. Plans B and C are enhanced covers having facilities like
Air Ambulance , Medical emergency reunion, Doctors home visit and nursing care during
post hospitalisation.
Optional covers are - Outpatient Treatment & Critical Illness.
General Exclusions & Deductible: As per policy .
Medical Second Opinion:- There are 160 major diseases for which insured can take Medical
Opinion (one per illness) from the overseas doctors ( World Leading Medical Centre- WLMC).
through the TPA named in the policy.
Out Patient Expenses : SI to be chosen separately
Cumulative Bonus 5% each claim free year max 50%
No CB on Critical Ilness cover or OPD
Extension
Section-II: Critical Illness:

Cover is available for Sum Insured Rs. 2/3/5/ 10/15/20 & 25 lacs. The SI for Critical Illness
should not be more than Mediclaim section Sum Insured.
Diseases/illnesses covered–
Critical illness means Stroke resulting in permanent symptoms, cancer of specified severity,
kidney failure requiring dialysis, major organ/bone marrow transplant, multiple sclerosis with
persisting symptoms and open chest CABG ( Coronary Bypass Graft), Permanent Paralysis
of limbs and blindness.The exact definition for each illness is specified in the policy
If the insured person is diagnosed with a specified critical illness, symptoms which were not
present prior to taking the policy, and he survives the disease for 30 days, he/she is eligible
for a claim. No claim is admissible under this section upto 90 days from inception of cover.
Eligibility
Policy can be taken by the insured between 18 and 65. Spouse, dependent children and
parents (as per NMP) can be covered. Medical Reports are required for persons above 40
years for persons opting for SI above 6 lacs and all persons opting for critical illness cover,
irrespective of age. 50% report costs reimbursed if proposal accepted & premium paid. The
Reports are valid for a period of 30 days.Tests required are as follows
• Physical examination (signed by MD)
• Blood Sugar Fasting & PP
• Lipid Profile
• Serum creatinine
• Urine routine and Microscopic Examination
• ECG
• Eye check up including retinoscopy
• Any other investigation required ( proposal assessment )
- 260 -
Premium:
3m -
SI 6-17 18-25 26-35 36-45 46-55 56-59 60-65 66-70 71-75 76-80 81-85 86+
5yrs
2,00,000 5050 5101 5668 5781 5897 8127 11756 15299 22194 25812 27225 28412 29532
3,00,000 6589 6589 7321 7468 7468 10804 15755 20309 29863 34114 37111 39040 40494
4,00,000 7982 7983 8870 9047 9047 13250 19421 24853 36888 41601 46260 48940 50684
5,00,000 9279 9279 10310 10516 10517 15537 22857 29082 43471 48537 54898 58334 60271
6,00,000 10335 10335 11483 11713 11714 17707 26122 33076 49722 55064 62596 66768 69561
7,00,000 11334 11335 12594 12846 12847 19615 29082 36729 55554 61113 70166 75146 78343
8,00,000 12288 12289 13655 13928 13928 21446 31931 40230 61171 66900 77473 83145 86831
9,00,000 13205 13205 14673 14966 15586 23214 34686 43604 66606 72468 84438 90901 95067
10,00,000 14088 14089 15654 15967 17334 24927 37361 46869 71883 77847 91192 98445 103083
15,00,000 19002 19003 28070 31501 31816 34917 49962 58719 76711 82983 102105 119966 126272
20,00,000 22672 22673 30291 44606 45052 45502 60568 68885 83460 86190 113693 139731 147876
25,00,000 26055 26056 32680 46682 47149 50974 70221 77027 86328 89518 120707 154911 164683
30,00,000 29730 29732 35729 49351 50627 59199 79260 83996 86938 93430 124801 166901 177731
40,00,000 35609 35611 41473 53964 58765 73381 93784 93789 94620 100732 125128 181594 194796
50,00,000 40905 40907 47760 58118 67611 87008 106084 106090 106095 108605 125134 188066 203053
Rate for outpatient treatment –

Cover Sum (Rs) 2,000 3,000 4,000 5,000 10,000
Premium 1,200 1,800 2,400 3,000 6,000
Family discount of 10%, On line discount (5% for fresh policy and 2.5% for renewals) and
Youth discount of 10% are available on the basic premium.
Premium For Critical Illness (each Individual)-

Above
Sum Insured 18-25 26-35 36-45 46-55 56-59 60-65 66-75 76-85
86
2,00,000 372 647 1198 2217 3209 4643 9501 21109 47155
3,00,000 557 970 1796 3326 4813 6965 14251 31664 70733
5,00,000 929 1617 2994 5543 8022 11608 23752 52773 117889
10,00,000 1858 3234 5988 11086 16043 23217 47505 105546 235777
15,00,000 2786 4851 8981 16629 24065 34825 71257 158319 353666
20,00,000 3715 6468 11975 22172 32086 46434 95009 211093 471555
25,00,000 4644 8085 14969 27715 40108 58042 118762 263866 589443
- 261 -
COMPARISION OF NATIONAL MEDICLAIM & NATIONAL MEDICLAIM PLUS POLICIES
Covers National National

Mediclaim Policy Mediclaim Plus
Policy
Family structure Self, spouse, Self, spouse,
and dependents and dependents
(1+7) (Incl. dep. (1+7) (only
brother / sister) spouse dep
children &
parents)
Type of cover Non Floater Non Floater
Hospitalisation hospitalization
Plan A B C
SI ( Sum Insured) Rs. 2 to 5 Rs.2/3/4/5/6 Rs.15/20/25 Rs. 30/40/50
lacs,Single Plan /7/8/9/10 lacs
only
Max benefit Available SI Full full Full
for one illness
subject to sub
limits
Room charges 1% SI max 1% & 2%, max Rs. 15,000 Rs. 20,000
5000/- & for Rs. 15000
ICU 2% SI max
10,000
Pre-existing disease 48 months 36 36 36
30 days waiting Yes Yes Yes Yes
period
1 year exclusions 2 diseases 2 diseases 2 diseases 2 diseases
2 years exclusions 20 diseases 20 diseases 20 diseases 20 diseases
4 years exclusions 2 diseases 2 diseases 2 diseases 2 diseases
Pre hospitalisation 30 days 30 days 30 days 30 days
Post Hospitalisation 60 days 60 days 60 days 60 days
Ambulance charges 1% SI max Rs. Rs. 2500 Rs. 4000 Rs. 5000
2000/-
Organ donors Full Full full Full
hospital charges
Cataract Covered 15% SI max Upto Rs. 80000 Upto Rs.100000
60000
Ayurveda and 20% of SI Full full Full
homeopathy
Hospital cash Not covered 500/- per day 800/-per day 5 1000/per day 5
max 5 days days days
Maternity Not covered 30,000/- & 60000 & 75000 80000 &
50,000/- (for normal & C 100000/
(for normal & C Section) (for normal & C
Section) Section)
- 262 -
Covers National National
Mediclaim Policy Mediclaim Plus
Policy
Copayment On NA 20% co-payment 20% co-payment 20% copayment
Treatment outside
network hospital
Medical second Not covered 1 MSO for each same Same
opinion new diagnosis of
a major illness
Critical illness Not covered Optional optional Optional
Vaccination for Not covered Rs. 1000 Rs. 1000 Rs.1000
children upto 12 yrs
Air ambulance Not covered Not covered 5% SI 5% SI
Medical reunion Not covered Not covered Rs. 20,000 Rs.20000
Doctors home visit Not covered Not covered Rs.750 for max Rs. 1000 for max
10 days 10 days
CB, No claim 5% each claim 5% each claim 5% each claim 5% each claim
discount free max 50% free max 50% , free max 50% , free max 50% ,
Health check up once in 4 years 2 yrs 1000 2 yrs 2000 2yrs 3000
Out patient Not covered 2000 to 10000 same Same
on additional
premium
- 263 -
VIDYARTHI MEDICLAIM FOR STUDENT
A unique policy designed for students between the age 3 years to 25 Years. Policy covers
hospitalisation as well as Personal accident to Student and a named Parent. Policy is suitable
for the individual student as well as for the Schools/Colleges/Universities.
Covers:
Section-I : Hospitalisation expenses to the students: As per policy
Section-II: Personal Accident of the Guardian
Section III: Personal Accident of the Student
If insured person sustains any bodily injury resulting solely and directly from accident
caused by external violent and visible means , the company shall pay the sum. This is
a Table II cover of PA
General Exclusions For Hospitalisation Claims: As per policy

No Health Check Up Costs payable
Cumulative Bonus(CB)
Sum Insured excluding CB will be increased by 5% in respect of each claim free year upto
a maximum of 50% of the Basic Sum Insured under the current policy period. In case of
a claim under the policy in respect of the insured person who has earned CB , increased
percentage CB will be reduced by 5% ,
Insured person has the option either to avail cumulative bonus or claim 5% discount in
renewal premium in respect of each claim free year of insurance subject to maximum of
10(ten) claim free years of insurance.
Portability: As per Portability rules.
Sum Insured And Premium

Section-I 50000 75000 100000 125000 150000 175000 200000
Section II 100000 150000 200000 250000 300000 350000 400000
Section-III 50000 50000 50000 50000 50000 50000 50000
PREMIUM 582 838 1111 1365 1620 1851 2084

VOLUME 101-5000 5001- 15001- 25001- 50001
DISCOUNT 15000 25000 50000 and Above
10% 15% 20% 25% 30%
- 264 -
VARISTHA MEDICLAIM FOR SENIOR CITIZENS
This Policy is specially designed Senior citizens aged between 60 to 80 years.
Section I Covers Hospitalisation and domiciliary Hospitalisation which is compulsory and

is available for a Sum Insured Rs. 1 lac, including specified day care procedures.
Section-II Covers Critical Ilness for a SI of Rs. 2 lacs This is an optional cover. Definition
of critical illness are specified in the policy.
Pre-policy check-up- If covered under any other mediclaim policy no check up is required,
however, for fresh cover proposer has to under go medical check up for Blood/Urine, Blood
Pressure, Cardiography& eye check up including retinoscopy . Reports are valid for a period
of 30 days. If proposal is accepted 50%of the medical check up cost will be reimbursed.
Section-I: Hospitalisation And Domiciliary Hospitalisation:

Covers Hospitalisation expenses under the following heads.
1. Room Boarding and Nursing charges and others 25% of the Sum Insured any one
illness. Sublimit for room charges 1% of SI and for ICU 2% of SI
2. Medical practitioners surgeons anaesthetist consultants and specialists fees : 25% of
the SI any one illness.
3. Anaesthesia, blood, oxygen etc: 50% of the SI any one illness
4. Ambulance charges restricted to 1% of the SI subject to a max of Rs. 1000 in a poicy
period.
5. Domiciliary hospitaisation expenses upto 20% of SI. (Defined in the Policy)
6. Pre and Post Hospitalisation of 30 and 60 days respectively.
7. Cover for cataract and Benign Prostatic Hyperpla is available for Rs. 10000/- and Rs.
20000/- respectively.
8. Co-payment of 10% shall apply to all admissible claims other than cataract & benign
prostatic Hyperpla
General Exclusions & Deductible: As per policy
Section-II:
Critical Illness: Named Illnesses and other provisions as per National Mediclaim Plus
Policy
Premium:
Cover Sum Premium Premium Premium Premium Premium Premium
Insured 60-65 yrs 66-70 yrs 71-75 yrs 76-80 yrs 81-85 yrs 86- above
Mediclaim 1,00,000 4180 5196 5568 6890
Critical illness 2,00,000 2007 2130 2200 2288
NB. Applicable for Mediclaim section-

1. Premium for 81-85 years is 110% of the premium for 76-80 years premium & for
above 85 years premium is 120% of the premium for 76-80 years premium. (provided
the policy is a continuous one)
2. For fresh entrants above premium be loaded by 10%
3. Pre-existing Hypertension/Diabetes can be covered by charging 10% extra premium.If
both these diseases exist and need to be covered, a loading of 20% is to be charged.
- 265 -
Exclusion as per policy.
Portability as per Rules.
NB Applicable for Critical Illness-
1. Any pre-existing disease will not be covered under Critical Illness policy.
2. Pre-existing Hypertension/Diabetes can be covered by charging 10% extra premium.

If both these diseases exist and need to be covered, a loading of 20% is to be charged.
subject to no organ of the proposer is affected in consequence of blood pressure and/
or diabetes, if affected cover be excluded.
3. Cover for permanent paralysis of limbs and blindness may be granted by loading
premium 15% for each and for all 25% loading on the Critical illness premium.
- 266 -
PARIVAR MEDICLAIM FOR FAMILY
This is a floater cover, covering the whole family for a single SI within the range of Rs. 2
lacs to Rs. 5 lacs. The Sum Insured floats over the family members ie anyone suffering from
illness may have the hospitalisation benefit. Maximum expenses payable for any one illness
is 50% of sum insured.
Cover: Covers In patients hospitalisation expenses:

a. under the heads Room, Boarding including nursing care, RMO charges, administration
charges for IV fluids/blood transfusions/injections . Room charges 1% of SI per day &
ICU charges 2% of SI per day.
b. Medical practitioners’ surgeon, anaesthetist, consultants, specialists’ fees
c. Anaesthesia, blood, oxygen, OT charges, surgical appliance, medicine, drugs,
implants, diagnostic tests, organs donors expenses, ambulance charges. Upto 10% of
Sum Insured.
d. Covers Day care procedure for 140+ named diseases
e. Pre & Post Hospitalisation expenses related to medical diagnosis or procedure that
resulted in hospitalisation and expenses incurred 15 days prior and 30 days post
hospitalisation period.
f. Hospitalisation expenses of person donating organ during course of organ transplant
g. Any one illness total expenses is 50% of family floater Sum Insured.
General Exclusions & Co-Payment:

a. Pre-existing diseases 48 months.
b. Internal congenital disease/defects known will be treated as pre-existence disease.
c. First 30 days waiting period
d. Specific waiting period of 2 years for 17 named diseases.
e. Some permanent exclusions, like HIV, AIDs, diseases resulting from drug/alcohol
abuses, cosmetic surgery, massage/spa etc.
f. Co-payment of 10% claim arising from diabetes or hypertension, in case one of these
is pre-existing and covered with loading.
g. Co-payment of 25% of claim arising from diabetes or hypertension , in case both are
pre-existing and covered with a loading
Eligibility:
Policy can be availed by person between the age 18 to 60 years.
Children between the age 3 months to 18 years can be covered, provided parents are also
covered under the policy.
Policy can be availed for self, spouse and two dependent chidren upto 18 years. Male child
can be covered upto 25 years if a bonafide student and not employed. Female dependent
child can be covered upto marriage
- 267 -
Premium:
Age upto 35 years Age 36 to 45 years
Sum self spouse Ist child 2nd Self spouse 1st child 2nd
insured child child
(Rs)
2,00,000 2469 617 494 494 2683 805 537 537
2,50,000 2956 739 591 591 3213 964 643 643
3,00,000 3444 861 689 689 3743 1123 749 749
3,50,000 3870 968 774 774 4207 1262 841 841
4,00,000 4297 1074 859 859 4670 1401 934 934
4,50,000 4723 1181 945 945 5135 1541 1027 1027
5,00,000 5151 1288 1030 1030 5598 1679 1120 1120
Sum
Age 46-50 Age 51-55
Insured
2,00,000 4290 1502 858 858 4485 1794 897 897
2,50,000 5200 1820 1040 1040 5436 2174 1087 1087
3,00,000 6108 2138 1222 1222 6386 2554 1277 1277
3,50,000 6942 2430 1388 1388 7258 2903 1452 1452
4,00,000 7776 2722 1555 1555 8129 3252 1626 1626
4,50,000 8610 3013 1722 1722 9001 3600 1800 1800
5,00,000 9444 3305 1889 1889 9873 3949 1975 1975
Age 56-60 Age 61-65
Sum self spouse Ist child 2nd Self spouse 1st child 2nd
insured child child
2,00,000 5127 2051 1025 1025 6409 2564 1281 1281
2,50,000 6236 2495 1247 1247 7795 3119 1559 1559
3,00,000 7346 2938 1469 1469 9183 3673 1836 1836
3,50,000 8375 3350 1675 1675 10469 4188 2094 2094
4,00,000 9406 3762 1881 1881 11758 4703 2351 2351
4,50,000 10436 4175 2087 2087 13045 5219 2609 2609
5,00,000 11466 4586 2293 2293 14333 5733 2866 2866
Beyond 65 years 25% loading on premium be made.

Add On Cover from inception for pre existing DM and HT. In case any member of family
suffers from hypertension or diabetes 10% extra on total premiummay be charged to include
this cover. If both hypertension and diabetes are pre existing, 20% loading is to be charged.
No cumulative Bonus.
- 268 -
NATIONAL PARIVAR MEDICLAIM POLICY
This is a floater cover, covering the whole family for a single SI within the range of Rs. 2 lacs
to Rs.10 lacs. The Sum Insured floats over the family members ie anyone suffering from
illness may have the hospitalisation benefit There are two sections under the policy. This
policy has enhanced benefits over and above the Parivar Mediclaim Policy. Some of them
are non allopathic treatment, domiciliary hospitalization, Maternity etc.
Famiy incudes self, spouse, two dependent children and parents. The Sum Insured ranges
between Rs. 1/2/3/4//6/7/8/9/10 lacs and Critical Illness Sum Insured should not be more
than Hospitalisation SI.
On payment of additional premium Hypertension & Diabetes are covered as in Parivar
Mediclaim Policy
Section I covers Hospitalisation and Domicilliary hospitalisation benefits (Ltd. to 20% of

SI subject to Maximum) Defination of Dimicillary Hospitaisation is mentioned in the Policy.
Medical Second Opinion:- there are 88 major disease for which insured can take Medical
Opinion from the overseas doctors ( World Leading Medical Centre - WLMC). If the Insured
is diagnosed with any of the major illness one medical second opinion per family can be
availed during a policy year for the illness through the TPA named in the policy.
General Exclusions & Deductible: Please refer policy.
Section-II: Critical Illness:

Cover is available for Sum Insured Rs. 2/3/5 & 10 lacs. Sum Insured should not be more
than Mediclaim section Sum Insured. Policy can be taken by the Insureds within the age
18 to 65 years subject to satisfactory medical report. For details of cover please refer
National Mediclaim Plus Policy mentioned earlier.
The premium depends upon the Zone in which the Insured resides. In case the premium is
paid for a particular zone and treatment is taken in a higher zone, co-payment is applicable.
Zones
a. Zone-I: Greater Mumbai &Gujarat,
b. Zone-II: Delhi, Chandigarh, Pune, Gurgaon-Maneswar, Alwar-Bhiwadi, Faridabad-
Ballavgarh, Ghaziabad-Loni, Noida-Greater Noida, Bahadurgarh, Sonepat-Kundli
Charkhi Dadri, Bhiwani & Narnaul,
c. Zone III: Chennai, Hyderabad, Bangalore & Kolkata
d. Zone IV : Rest of India) for which premium paid-
Copayment
a. Premium paid for Zone-I , No copayment.
b. Premium paid for Zone II, No copayment for treatment in zone II, III & IV, copayment
5% for zone I treatment.
c. Premium paid for Zone III, No co-payment for treatment in zone III & IV, however
copayment 12.5% for Zone I and 7.5% for zone II
d. Premium paid for Zone IV, no copayment for treatment in zone IV, however ,copayment
22.5% in zone I, 17.5% in zone II and 10% for zone III.
- 269 -
Pre Acceptance Medical check Up Reports:
Policy can be taken by the Insureds between the ages of 18 to 65 years subject to satisfactory
medical reports for persons above 50 years of age. For Critical Ilness cover, Medical Reports
are a must, irrespective of Age. The Reports are valid for a period of 30 days.Tests required
are as follows
• Physical examination (signed by MD)
• Blood Sugar Fasting & PP
• Lipid Profile
• Serum creatinine
• Urine routine and Microscopic Examination
• ECG
• Eye check up including retinoscopy
• Any other investigation required ( proposal assessment )
On acceptance of proposal 50% cost for health check up is reimbursed.
PREMIUM:
Rate for Zone I with TPA for senior most family member:
SI 18-25 26-35 36-45 46-55 56-59 60-65 66-70 71-75 76-80 81-85 86+
1,00,000 3652 4004 4967 7319 9328 10404 11983 13930 14716 16053 20504
2,00,000 4905 5052 6928 11148 14156 16576 20243 23118 25230 27846 29421
3,00,000 5942 6120 8542 12746 16695 19111 22550 31279 35175 39219 41838
4,00,000 6671 7158 9935 15123 18138 22261 26744 38879 44506 50133 54001
5,00,000 7325 8007 11253 16943 19208 24812 30241 46660 53313 60652 65864
6,00,000 7926 8862 12607 18513 20504 27842 33335 53414 61612 70753 77402
7,00,000 8551 9746 13613 20911 23173 29854 35771 58469 68889 79875 88043
8,00,000 9153 10681 14685 22269 23767 31244 37787 61768 75998 93136 102696
9,00,000 9662 11685 15595 23491 25288 35357 40619 64512 82735 107390 118446
10,00,000 10148 12292 17173 24806 27180 37709 43673 66723 89262 122733 134143
Premium for other family members with TPA

3m -
SI 6-17 18-25 26-35 36-45 46-55 56-59 60-65 66-70 71-75 76-80 81-85 86+
5yrs
1,00,000 469 531 594 678 1207 2551 3756 5202 6220 7507 8234 9325 13328
2,00,000 573 644 798 856 1684 3886 5701 8288 10508 12459 14116 16175 19124
3,00,000 656 734 967 1037 2076 4443 6723 9556 11706 16857 19680 22781 27195
4,00,000 701 782 1085 1213 2415 5272 7304 11131 13883 20953 24901 29121 35100
5,00,000 740 824 1192 1357 2735 5906 7735 12406 15698 25146 29829 35231 42812
6,00,000 775 861 1290 1501 3064 6453 8257 13921 17304 28786 34472 41098 50311
7,00,000 811 900 1391 1651 3308 7289 9332 14927 18568 31510 38543 46397 57228
8,00,000 846 937 1489 1810 3569 7763 9571 15622 19615 33288 42521 54100 66752
9,00,000 874 967 1572 1980 3790 8189 10183 17679 21085 34767 46291 62380 76990
10,00,000 900 994 1651 2083 4173 8647 10945 18855 22670 35958 49943 71292 87193
NB:
Premium stated with TPA for Zone I and premium for other zones will be discounted by
4.44% for zone II, 11.11% for Zone III & 20% for Zone IV.
- 270 -
1. Rate for outpatient treatment
Cover Sum (Rs) 2,000 3000 4000 5000 10,000
Premium 1200 1800 2,400 3000 6000
2. Rate for pre-existing Hypertension/Diabetes

Cover- Diabetes or 13.5% loading on base 10% co-payment
Hypertension premium of each zone
Diabetes & Hypertension 30% loading on base 25% co-payment
both premium
3. Discounts on base premium ( not on optional premium)

a. No claim discount 5% for each claim free year
b. On line premium 5% for fresh and in case of renewal 2,5%
c. Above 45 years age opting maternity cover 3%
Long Terms discount- Policy for 2 years 4% & for 3 years 7.5%
Premium For Critical Illness (each Individual)

Sum Above
18-25 26-35 36-45 46-55 56-59 60-65 66-75 76-85
Insured 86
2,00,000 372 647 1198 2217 3209 4643 9501 21109 47155
3,00,000 557 970 1796 3326 4813 6965 14251 31664 70733
5,00,000 929 1617 2994 5543 8022 11608 23752 52773 117889
10,00,000 1858 3234 5988 11086 16043 23217 47505 105546 235777
- 271 -
NATIONAL PARIVAR MEDICLAIM PLUS POLICY
This is a premium version of a Family Floater Policy. Covers family including self, spouse,
two dependent children, parents and parents in law by a single Sum Insured. Covers inpatient
treatment for Allopathy, Homeopathy & Ayurveda. 140+ day care procedures.
There are three Plans under this policy ,A, B and C. B and C have enhanced benefits like Air
Ambulance , Medical emergency reunion , doctors home visit and nursing care during post
hospitalisation.
Optional covers are Pre-existing Hypertension/Diabetes, Outpatient Treatment & Critical

Illness.
Policy covers as given below :
Section-I Hospitalisation expenses In-patient as well as domiciliary

Hospitalisation expenses Sum Insured is on floater basis .
A single Sum Insured is applicable for family members.
The Sum Insured ranges
Plan A Rs. 6/7/8/9/10 lacs
Plan B Rs. 15/20/25 lacs
Plan C Rs. 30/40/50 lacs
DOMICILIARY HOSPITALISATION- covered upto Rs.1,00,000/- for Plan A &Rs. 2,00,000/-

for Plan B and C
Section II Critical Illness

Critical Illness Sum Insured should not be more than Hospitalisation SI , option available for
Rs. 2/3/5/10/15/20 & 25 lacs per insured person. For details of cover and conditions, kindly
refer National Mediclaim Plus Policy above
Some Additional features.

1. Deductible/co-payment
For Plan A only- 10% on admissible claim for treatment in non network hospitals.
Not applicable for B & C plans-
2.
Optional cover for the pre-existing diseases related to hypertension or diabetes
maximum claim payable is
a. 25% of SI in 1st year
b. 50 % in 2nd year
c. 75% in 3rd year
3. Copayment outside the zones

Zone Locations Premium Paid Copay
Zone-I Greater Mumbai & Zone-I No copayment
Gujarat,
- 272 -
Zone-II Delhi, Chandigarh, Pune, Premium paid for Zone II No copayment for
Gurgaon-Maneswar, treatment in zone II, III
Alwar-Bhiwadi, & IV,
Faridabad-Ballavgarh, copayment 5% for zone I
Ghaziabad-Loni, treatment.
Noida-Greater Noida,
Bahadurgarh, Sonepat-
Kundli Charkhi Dadri,
Bhiwani &Narnaul
Zone III Chennai, Hyderabad, Premium paid for Zone III No co-payment for
Bangalore & Kolkata treatment in zone III & IV,
copayment 12.5% for
Zone I
7.5% for zone II
Zone Rest of India Premium paid for Zone IV no copayment for
IV treatment in zone IV,
copayment 22.5% in
zone I
17.5% in zone II
10% for zone III.
Medical Second Opinion:- There are 160 major disease for which insured can take
Medical Opinion from the overseas doctors ( World Leading Medical Centre- WLMC). If
the Insured is diagnosed with any of the major illness one medical second opinion per
family can be availed during a policy year for the illness through the TPA named in the
policy.
Pre Acceptance Health check up:

1. For 40 years and above
2. opting for Plan B or C irrr of age.
3. If opting for critical Illness.
Premium:
Rates for Zone I with TPA for senior most family member:
SI 18-25 26-35 36-45 46-55 56-59 60-65 66-70 71-75 76-80 81-85 86+
6,00,000 9447 10426 14336 20514 22598 30193 35939 56946 65522 75085 82038
7,00,000 10339 11589 15626 23261 25628 32519 38709 62456 73356 84851 93389
8,00,000 11207 12806 16986 24921 26487 34195 41044 66129 81016 98942 108936
9,00,000 11979 14095 18177 26438 28318 38720 44224 69220 88282 114073 125631
10,00,000 12726 14969 20066 28052 30536 41402 47641 71755 95328 130341 142268
15,00,000 18724 23912 31061 40786 45902 57682 66408 95737 128868 166887 182030
20,00,000 22270 28927 38435 48988 57345 65747 74728 112365 149614 184771 201609
25,00,000 27063 35717 44969 56695 69022 78133 84623 131622 157984 196052 213962
30,00,000 34340 42364 50371 64396 79547 91246 93024 144884 161897 202021 220467
- 273 -
40,00,000 40745 50622 57839 76819 95327 110175 124340 172998 175310 211307 230640
50,00,000 44862 55420 63678 87825 107529 123837 145177 192780 202721 227224 248077
Rates for Other family members with TPA

Sum 3m -
6-17 18-25 26-35 36-45 46-55 56-59 60-65 66-70 71-75 76-80 81-85 86+
Insured 5yrs
6,00,000 984 1082 1537 1766 3488 7151 9100 15096 18656 30689 36660 43615 53325
7,00,000 1058 1161 1682 1964 3798 8109 10320 16260 20094 33659 41043 49287 60703
8,00,000 1130 1238 1823 2170 4128 8687 10666 17097 21304 35638 45328 57473 70808
9,00,000 1195 1306 1949 2388 4417 9216 11403 19360 22957 37304 49394 66262 81660
10,00,000 1258 1372 2070 2536 4877 9779 12297 20701 24730 38670 53336 75711 92474
15,00,000 1867 2017 3046 4052 7549 14218 18484 28841 34472 51595 72102 96940 118319
20,00,000 2113 2283 3623 4901 9341 17077 23093 32874 38791 60556 83710 107328 131046
25,00,000 2488 2691 4403 6052 10929 19763 27795 39067 43928 70934 88392 113881 139075
30,00,000 3149 3408 5587 7178 12242 22448 32033 45623 48288 78081 90582 117348 143303
40,00,000 4350 4703 6629 8577 14057 26778 38388 55088 64545 93232 98087 122742 149916
50,00,000 4636 4962 7299 9390 15476 30615 43301 61918 75361 103893 113423 131988 161250
Premium stated with TPA for Zone I and premium for other zones will be discounted by
4.44% for zone II, 11.11% for Zone III & 20% for Zone IV.
Rate for outpatient treatment

Cover Sum 2,000 3,000 4,000 5,000 10,000 15,000 20,000 25,000
(Rs)
Premium 1,200 1,800 2,400 3,000 6,000 9,000 12,000 15,000
Rate for pre-existing Hypertension/Diabetes

Pre-existing Cover Policy year Claims payable Loading on
premium
Cover- Diabetes or 1st year Uoto 25% SI 6%
Hypertension 2nd year Upto 50% SI 12%
3rd year Upto 75% SI 18%
Diabetes & 1st year Upto 25% SI 14%
Hypertension both 2nd year Upto 50% SI 28%
3rd year Upto 75% SI 42%
Discounts on base premium ( not on optional premium)-

a. No claim discount 5% for each claim free year
b. On line premium 5% for fresh and in case of renewal 2,5%
c. Above 45 years age opting maternity cover 3%
d. Long Terms discount- Policy is for 1 year –no discount, policy for 2 years 4% & for 3
years 7.5%
- 274 -
Premium For Critical Illness (each Individual)-
Sum Insured 18-25 26-35 36-45 46-55 56-59 60-65 66-75 76-85 Above 86
2,00,000 372 647 1198 2217 3209 4643 9501 21109 47155
3,00,000 557 970 1796 3326 4813 6965 14251 31664 70733
5,00,000 929 1617 2994 5543 8022 11608 23752 52773 117889
10,00,000 1858 3234 5988 11086 16043 23217 47505 105546 235777
15,00,000 2786 4851 8981 16629 24065 34825 71257 158319 353666
20,00,000 3715 6468 11975 22172 32086 46434 95009 211093 471555
25,00,000 4644 8085 14969 27715 40108 58042 118762 263866 589443
- 275 -
Comparision Of Parivar Mediclaim For Family National Parivar Mediclaim National
Parivar Mediclaim Plus
Covers Parivar National Parivar National Parivar

Mediclaim For Mediclaim Mediclaim Plus
Family
Family structure Self, spouse, Self, spouse, Self, spouse,
dependent dependent dependent
children (1+3) children, Parents children, Parents
and/or In laws
Type of cover Single SI float Single SI float Single SI float
over family over family over family
Plan A Plan B Plan C
SI Rs. 2 to 5 lacs Rs.1/2/3/4/5/6 Rs.6/7/8/9/10 Rs.15/20/25 lacs Rs. 30/40/50
/7/8/9/10 lacs lacs lacs
Max benefit 50% of SI for one Full full full Full
illness
Room charges 1% & 2% of SI 1% and 2% 1% & 2% actual Actual
Pre-existing 48 months 48 36 36 36
disease
30 days waiting Yes Yes Yes Yes Yes
period
1 year exclusions Nil 5 named 5 5 5
diseases
2 years 17 diseases 19 named 19 19 19
exclusions diseases
4 years Nil 2 named 2 2 2
exclusions diseases
Co-payments- 10% 10% Limits on Limits on Limits on
diabetes or sum Insured sum Insured sum Insured
hypertension if applicable applicable applicable
pre-existing
Copayment both 25% 25% Limits on Limits on Limits on
diabetes and sum Insured sum Insured sum Insured
hypertension-if applicable applicable applicable
pre existing
Pre 15 days 30 30 30 30
hospitalisation
Post 30 days 60 60 60 60
Hospitalisation
Ambulance Nil 1000/illness & Rs.2500 Rs.4000 Rs.5000
charges 2500/year
Domiciliary Nil 20% SI max 1,00,000 Rs.2,00,000 Rs. 2,00,000
charges 50000
Organ donors Full Full Full full Full
hospital charges
Cataract Covered 10% max 50000 15% max 60000 actual Actual
Ayurveda and Not Covered Covered Covered Covered Covered
homeopathy
- 276 -
Covers Parivar National Parivar National Parivar
Mediclaim For Mediclaim Mediclaim Plus
Family
Anti rabbies Nil Rs.5000 Rs.5000 Rs.5000 Rs.5000
vaccine
Hospital cash Nil Rs. 300/- max 500/- per day 1000/- per day 2000/- per day
5 days max 5 days 5 days 5 days
Maternity Nil 10% SI Rs. 30,000/- & actual Actual
30000/- normal 50,000/-
& 50000 C
Infertility Nil Rs. 50000/- Rs.50000 Rs.100000 Rs.100000
Co-payment NA 10% NA NA NA
for Treatment
outside network
hospital
Medical second Nil One per family 2 MSOs/family same same
opinion for 88 diseases for 160 illness
Critical illness Nil Optional cover optional optional optional
Vaccination for Nil Nil 1000 actual actual
children upto
12 yrs
Air ambulance Nil Nil Nil 5% SI 5% SI
Medical reunion Nil Nil Nil covered covered
Doctors home Nil Nil Nil 1000 for 10 days 2000 for 10 days
visit
Vaccination of Nil Nil Covered in Covered in Covered in
new born baby maternity maternity maternity
Reinstatement Nil Nil Yes only road same same
of SI accident
Health check up Nil Every 4 years 2 yrs 5000 2 yrs 7500 2yrs 10000
max Rs. 5000/-
Out patient Nil On payment 2000 to 25000 Same Same
additional on additional
premium 60% of premium
SI Rs. 2000 to
10000
- 277 -
BOI (BANK OF INDIA) NATIONAL SWASTHYA BIMA POLICY
Policy can be issued to the Account Holders of the Bank. Family Floater policy with maximum
Sum Insured Rs. 5 lacs. Entire family is covered under a single Sum Insured. Treatment of
NRIs in Indian Hospitals is covered and cover is also available in Nepal & Bhutan. Policy
covers 140+ day care hospitalisation expenses with the following-
a. Room, Boarding including nursing charges in hospital
b. Surgeon, Medical practitioners’ surgeon, anaesthetist, consultants, specialists’ fees-.
c. Anaesthesia, blood, oxygen, OT charges, surgical appliance, medicine, drugs,,
diagnostic materials, X Rays, Dialysis, Chemotherapy, Radiotherapy, cost of
pacemaker, artificial limbs, cost of organs and similar expenses.
d. Ambulance charges limited to Rs. 1,000/- per illness and in a policy period-
e. In case of hospitalisation of children below 12 years, a lumpsum amount Rs. 1000/-
per policy period out of pocket expenses.
f. Maternity and baby care expenses in respect of first two child delivery with waiting
period 9 months and applicable Sum Insured is 5% of policy sum insured..
g. In case of death Rs. 1000/- (over and above Sum Insured) is paid as funeral expenses.
h. Treatment of NRIs in Indian Hospitals
i. Treatment in Hospitals in Nepal and Bhutan
j. Pre & Post Hospitalisation expenses related to medical diagnosis or procedure that
results in hospitalisation and expenses incurred 30 days prior and 60 days post
hospitalisation period .
k. Day care procedure 140+ diseases.
Cost Of Health Check Up:

1% of Average SI is paid once after 3 claim free policy year.
Eligibility:
Policy can be availed by the Account Holder of the Bank within the age 18 to 65 years
for self, and family member (1+3) Spouse, and Two dependent children. Parents are not

Premium in INR Age upto 65 years of the Account holder
Sum Insured 50,000 1,00,000 1,50,000 2,00,000 2,50,000 3,00,000 4,00,000 5,00,000
Premium 829 1,556 2,348 3,020 3,616 4,213 5,256 6300
For age more than 65 years premium be loaded by 25%
- 278 -
BARODA HEALTH POLICY
Policy can be issued tor the Account Holders of the Bank. Family Floater policy with maximum
Sum Insured of Rs. 5 lacs. Entire family is covered under a single Sum Insured. Treatment of
NRIs in Indian Hospitals and cover is also available in Nepal & Bhutan. Policy covers 140+
day care hospitalisation expenses with the following-
1. Room, Boarding including nursing charges in hospital
2. Surgeon, Medical practitioners’ surgeon, anaesthetist, consultants, specialists’ fees-.
3. Anaesthesia, blood, oxygen, OT charges, surgical appliance, medicine, drugs,,
diagnostic materials, X Rays, Dialysis, Chemotherapy, Radiotherapy, cost of
pacemaker, artificial limbs, cost of organs and similar expenses.
Cost Of Health Check Up:

1% of Average SI is paid once after 3 claim free policy year.
Eligibility:
Policy can be availed by the Account Holder of the Bank within the age 18 years to 65 years
for self and family member (1+3) Spouse,and Two dependent children.Parents are not
Premium in INR Age upto 65 years of the Account holder

Sum 50,000 1,00,000 1,50,000 2,00,000 2,50,000 3,00,000 4,00,000 5,00,000
Insured
Premium 829 1,556 2,348 3,020 3,616 4,213 5,256 6300
For age more than 65 years premium be loaded by 25%.
- 279 -
STANDARD GROUP MEDICLAIM POLICY
It is a Medicaim Policy offered to a Group (approved by IRDA) for a SI ranging from Rs.
50,000/- to Rs. 5,00,000/ with pre and post hospitalisation expenses . Maternity benefit is
an optional cover. The Policy does not have any Cumulative Bonus Benefit. The renewal
premium is loaded or discounted based on the claims experience of the previous policy at
the time of renewal. Benefits are similar to National Mediclaim Policy, Maternity expenses
are payable upto limit specified and this cover comes with a waiting period of 9 months.
The Group is eligible for a Group Discount
PREMIUM:
Group discount- size 501 to 2000- 5%, 2001-5000-10% , 5001 & above 15%
Loading for maternity 10%
Sum
0-25 26-35 36-45 46-55 56-65 66-70 71-75 76+
Insured
50,000 541 710 956 1,635 2,158 2,688 2,881 3,555
75,000 785 1,031 1,386 2,371 3,125 3,886 4,162 5,126
1,00,000 1,049 1,377 1,852 3,161 4,180 5,196 5,567 6,890
1,25,000 1,292 1,696 2,282 3,909 5,173 6,436 6,945 8,751
1,50,000 1,536 2,016 2,713 4,656 6,165 7,677 8,323 10,611
1,75,000 1,755 2,304 3,101 5,351 7,094 8,847 9,633 12,402
2,00,000 1,975 2,592 3,488 6,045 8,025 10,019 10,941 14,193
2,25,000 2,170 2,848 3,832 6,685 8,893 11,122 12,182 15,917
2,50,000 2,365 3,104 4,177 7,326 9,761 12,224 13,422 17,638
2,75,000 2,560 3,360 4,521 7,967 10,629 13,326 14,662 19,362
3,00,000 2,755 3,616 4,866 8,608 11,498 14,429 15,902 21,083
3,25,000 2,926 3,840 5,168 9,196 12,303 15,461 17,074 22,737
3,50,000 3,096 4,064 5,469 9,782 13,110 16,496 18,245 24,391
3,75,000 3,267 4,288 5,771 10,371 13,915 17,528 19,417 26,044
4,00,000 3,438 4,512 6,071 10,957 14,722 18,563 20,587 27,698
4,25,000 3,608 4,736 6,373 11,545 15,527 19,595 21,760 29,351
4,50,000 3,779 4,960 6,675 12,132 16,334 20,630 22,930 31,005
4,75,000 3,950 5,184 6,977 12,720 17,140 21,662 24,102 32,659
5,00,000 4,120 5,408 7,277 13,307 17,947 22,697 25,273 34,312
- 280 -
TAILORMADE GROUP MEDICLAIM POLICY
TGMPs are Group Mediclaim Policies specially designed for Corporate Groups. For details
and loading/discount patterns, kindly contact the Underwriting Office.
Benefits and Exclusions- Designed for the Group .
Premium:
Basic Premium
Plus
Loading for Floater
Loading for Maternity
Loading for additional benefits like deletion of exclusions etc
For complete details, please contact the underwriting Office
Risk Acceptance & Claims Settlement Authority (Mediclaim )
Office/Designation Risk Acceptance limit Designation Claims settlement

Business Centre Rs. 5 lacs AO Rs. 50,000/-
Branch Office Rs. 10 lacs AM Rs. 2,00,000/-
Divisional Office Rs. 25 lacs Dy Manager Rs. 3,00,000/-
Regional Office Above Rs. 25 lacs Manager Rs. 5,00,000/-
DCC Rs. 10,00,000/-
Chief Manager Rs. 15,00,000/-
DGM/RCC Above Rs. 15 lacs
Policies Withdrawan (wef 1.9.2015) & Not to Be Offerred to the Customers

• Sampoorna Arogya Bima
• Star Swasthya Bima
• Dhanvanthari Mediclaim
• Sbbj-National Medikavach
• Uco Medicare Bima
• V Arogya Bima
• Iob Arogya Bima
• All Bank National Mediclaim
• Jan Arogya
• Swasthya Bima
• Bhavishya Arogya Bima
- 281 -
CRITICAL ILLNESS INSURANCE POLICY
Policy can be taken as standalone and or as an optional cover in Mediclaim policy.

While taking stand alone policy the age band is 20 to 65 years & Sum Insured available from
Rs. 3 lacs to Rs. 25 lacs.
In case of optional cover under mediclaim policy, Sum Insured should not be more
than Mediclaim section Sum Insured (except Varistha Mediclaim policy where SI is
Rs. 2,00,000/-).
Pre Policy check Up

Insured persons aged 45 and above required to submit Health Check up Reports with the
proposal and if the proposal is accepted on receipt of premium 50% health check up cost
may be refunded to the insured. Health check up report required are as folows-
a. Physical examination (signed by MD)
b. Blood Sugar Fasting & PP
c. Lipid Profile
d. Serum creatinine
e. Urine routine and Microscopic Examination
f. ECG
g. Eye check up including retinoscopy
h. Any other investigation required ( proposal assessment )
Cover:
Critical illness means Stroke resulting in permanent symptoms, cancer of specified severity,
kidney failure requiring dialysis, major organ/bone marrow transplant, multiple sclerosis with
persisting symptoms and open chest CABG ( Coronary Bypass Graft), Permanent Paralysis
of limbs and blindness.The exact definition for each illness is given below
If the insured person is diagnosed with a specified critical illness, symptoms which were not
present prior to taking the policy, and he survives the disease for 30 days, he/she is eligible
for a claim. No claim is admissible under this section upto 90 days of inception of cover.
No Cumulative Bonus.
Diseases/illnesses covered
1. Stroke Resulting in permanent Symptoms- Cerebravascular incident producing
permanent neurological sequelac excluding
a. Transient ischemic attacks(TIA)
b. Traumatic injury of brain
c. Vascular disease affecting only the eye or optic nerve or vestibular functions.
2. Cancer of Specified Severity- A malignant tumour characterised by the uncontrolled
growth and spread of malignant cells with invasion & destruction of normal tissue
excluding-
a. Tumours showing the malignant changes of carcinoma in situ & tumours which
are historically described as premalignant or non invasive including but not
limited to Carcinoma in situ of breast, Cervical dysplasia CIN-1, CIN-2 & CIN 3.
b. Any skin cancer other than invasive malignant melanoma
c. All Tumours of the prostate unless historically classified as having a Gleason
score greater than 6 or having progressed to at least clinical TNM classification
- 282 -
T2NOMO.
d. Papillary micro- carcinoma of the thyroid less than 1 cm in dia.
e. Chronic lymphocyctic leukaemia less than RA1 stage 3.
f. Micro-carcinoma of the bladder
g. All tumours in the presence of HIV infection.
3. Kidney Failure Requiring Regular Dialysis. End stage renal disease presenting as
chronic irreversible failure of both kidneys to function.
4. Major Organ/Bone Marrow Transplant- Undergoing transplant of Heart, Lung, Liver,
Kidney, Pancreas for failure of the organs & bone marrow using haematopoietic stem
cell with the following exclusions-
a. Other stem cell transplant.
b. Where only islets of Langerhans are transplanted
5. Multiple Sclerosis with persisting symptoms- excluding the neurological damage
such as SLE (Systemic Lupus Erythemmatosus) & HIV ( Human Immunodeficiency
Virus).
6. Open Chest CABG: Open chest surgery for correction of one or more coronary arteries
which are narrowed/blocked by coronary artery bypass graft (CABG) excluding-
Angioplasty and/or any other intra arterial procedures & Any key hole or laser surgery.
Additional covers-
7. Permanent Paralysis of Limbs- Total irreversible loss of use of two or more limbs.
8. Blindness- Total and permanent loss of sight in both eyes.

If the insured person is diagnosed with a specified critical illness, symptoms which
were not present prior to taking the policy, and he survives the disease for 30 days,
he/she is eligible for a claim.
General Exclusions-
a. Illness present prior to taking the policy & illness contacted or manifest during the first
90 days of the inception of the policy.
b. Insured should survive 30 days after diagnosis of critical illness in order to make
claim.
c. On payment of claim, no further claim will be paid for the critical illness.
d. Other exclusions- no claim if smokes 40 or more cigarettes per day, non prescribed
drug, drug addiction, suicide, AIDs/HIV, Radioactivity & War group of perils.
PREMIUM FOR CRITICAL ILLNESS (each Individual)-

Age band in years Premium rate per mille
20-30 1.5
31-40 2.05
41-50 4.80
51-65 8.80
Additional cover- paralysis or blindness. 15% on the payable premium
Paralysis & Blindness both
25%
Pre-existing Hypertension or diabetes 10%
For both hypertension & diabetes
20%
- 283 -
OVERSEAS MEDICLAIM INSURANCE
Package policy which covers travel emergencies including medical expenses, personal
liability , loss of baggage & passport etc when Citizen of India, Nepal & Bhutan travelling
abroad either for business and holiday or employment and higher studies. Policy also
can be issued to Foreign Nationals working in India for Indian employers of multinational
organisations getting salary in Indian Rupees.Policies are of two types and issued based on
travel period-
1. When people travel for business & Holiday purpose , the policy given is Overseas
Mediclaim Insurance Policy for Business & Holiday Travel
2. When people go for Employment and Studies purpose policy given is Overseas
Mediclaim Insurance Policy for Employment &Studies Travel
1. Coverage: Business & Holiday (B& H)

1a. Excluding Usa/Canada
1b. Including Usa/Canada
Cover Plan-A1 Plan-A2 Plan-B1 Plan-B2
Sum Insured Sum Insured Sum Insured Sum Insured
Excluding USA Excluding USA including USA including USA
& Canada & Canada & Canada & Canada
in USD in USD in USD in USD
Section-A- 50,000 2,50,000 1,00,000 5,00,000
Medical
Expenses &
repatriation
Section-B- 10,000 25,000 25,000 25,000
Personal
Accident
Section-C- Loss 1,000 1,000 1,000 1,000
of Checked
Baggage
Section-D-Delay 100 100 100 100
in Checked
Baggage
Section-E- Loss 150 250 150 250
of Passport
Section-F- 2,00,000 2,00,000 2,00,000 2,00,000
Personal
Liability
Where no medical reports are submitted, a restricted Medical Expenses cover SI is allowed
for 10,000 USD only. However, Medical expenses due to accident remains the same and no
restriction is there on SI.
- 284 -
PREMIUM
50000 $ PLAN A1- excluding USA/Canada 2,50,000 $ PLAN A 2 Excluding
USA/Canada
Period in Age 6 Age 41 to Age 61 to Age 6 Age 41 to Age 61 to
days months to 60 yrs 70 yrs months to 60 years 70 years
40 yrs 40 yrs
1-14 575 630 935 637 699 1204
15-21 600 670 990 665 745 1277
22-28 670 750 1120 745 836 1446
29-35 830 905 1345 927 1013 1741
36-47 950 1040 1560 1063 1166 2024
48-60 1115 1231 1835 1252 1383 2290
61-75 1380 1520 2305 1554 1714 3000
76-90 1650 1800 2735 1862 2033 3564
91-120 2790 3070 4660 3162 3481 6088
121-147 3360 3685 5600 3812 4182 7319
148-180 4671 5125 7800 5305 5824 10205
1,00,000 $ PLAN B1- including USA/Canada 5,00,000 $ PLAN A 2 including

USA/Canada
Period in Age 6 Age 41 to Age 61 to Age 6 Age 41 to Age 61 to
days months to 60 yrs 70 yrs months to 60 years 70 years
40 yrs 40 yrs
1-14 1045 1479 1794 1170 1742 2190
15-21 1111 1584 1920 1247 1867 2347
22-28 1245 1837 2208 1409 2168 2703
29-35 1508 2168 2652 1697 2561 3251
36-47 1993 2640 3240 2022 3125 3977
48-60 2893 4290 5227 3276 5090 6430
61-75 4158 6204 7608 4720 7373 9371
76-90 5006 7458 9168 5685 8867 11301
91-120 7051 10560 12960 8017 12564 15982
121-147 9362 14058 17304 10651 16733 21346
148-180 12397 18667 22935 14111 22226 28296
1C. Corporate Frequent Travellers - Business & Holiday policy can be issued to the
corporate who are travelling overseas frequently and each time they may not be in a position
to approach insurers for cover. Annual policy is issued with maximum overseas stay of 60
for single trip.Total stay abroad is 180 days
- 285 -
Cover Plan-E1 Plan-E1 Sum Plan-E2 Plan-E2 Sum
Sum Insured Insured without Sum Insured Insured without
Excluding USA medical including USA medical
& Canada in USD & Canada in USD
in USD in USD
Section-A- 1,00,000 10,000 5,00,000 10,000
Medical
Expenses &
repatriation
Section-B- 10,000 25,000 25,000 25,000
Personal
Accident
Section-C- Loss 1,000 1,000 1,000 1,000
of Checked
Baggage
Section-D-Delay 100 100 100 100
in Checked
Baggage
Section-E- Loss 150 250 150 250
of Passport
Section-F- 2,00,000 2,00,000 2,00,000 2,00,000
Personal
Liability
Plan 1 CFT worldwide Sum Insured $ 1,00,000, annual premium Rs. 3000/- age 18-60
years &Rs. 7172/- age band 61-70 years.
Plan 2 CFT Worldwide Sum Insured $ 5,00,000 annual premium Rs. 4230/ age 18-60 years
&Rs. 8180/- age 61-70 years.
2. Coverage: Employment & Studies( E & S)

Cover PLAN C : SI –Excluding PLAN D : SI Including USA
USA & Canada & Canada
Section-1- Medical Overall 1,50,000 $ Overall 1,50,000 $
A-Medical Expenses 1,50,000 $ 1,50,000 $
B-Medical Evacuation 10,000 $ 10,000 $
C-Repatriation Expenses 10,000 $ 10,000 $
D-Medical Emergency 5,000 $ 5,000 $
Reunion
Section-2-Contingency 750 $ for each month of 750 $ for each month of
Insurance (applicable to study completed study completed
sponsored students only)
Cover is granted based on the plan of the tour/study/employment programme.

Medical report is required if-
1. Persons age is over 40 years and travelling USA/Canada
2. Persons age more than 60 years travelling to the countries other than USA/Canada.
3. If no medical report is submitted restricted cover for medical treatment due to sickness/
diseases be granted for SI 10,000 $, however, no restricted of SI for accidental injury.
- 286 -
Premium:
E & S Excl USA/Canada 1,50,000 $ E & S Incl USA/Canada 1,50,000 $
1 months 1 months
18 to 40 41 to 60 18 to 40 41 to 60
Cover to 17 to 17
years years years years
years years
Employ-
ment per 35$ 41$ 47$ 60$ 71$ 98$
month
Study per
Rs. 818 Rs. 975 Rs.1065 Rs. 1365 Rs. 1568 Rs. 2243
months
Loading on premium-
Age 71 to 72 – 25%
Age 73-74- 50%
Age 75-78 100 %
Age 79 to 80 years 150%
Age above 80 years 200%
Medical Report required on-

Blood/Urine Strip Test
ECG on Stress test
No medical report is required for CFT cover for the organisation who conduct medical check
up for employees at least once in two years.
Overseas Service Provider-

For continental Europe, UK, For North, Central & South For South &South East Asia,
Ireland, Africa & Pakistan- America Middle east, Australia &
Paris APRIL-Miyami New Zealand India- Heritage
APRIL INTERNATIONAL April USA Assistance Inc Mumbai
ASSISTANCE 11900 Biscayne Bivd # 600 1120, Raheja Chamber
110 Avenue de la republique Miyami, Florida 33181 213 Free Press Journal Road
75011 Paris, France Telephone +13056987757 Nariman point, Mumbai
+33(I) 41612307 & & +1305 3572100 400025
41612300 Email assistance@ +912266547965,
e-mail ops@coris.fr corisamerica.com 7960,7961
heritagehealth@vsnl.net
- 287 -
PERSONAL ACCIDENT INSURANCE
1. Personal Accident Insurance(Individual) Policy:

Cover: Death or bodily injury resulting solely and directly from accident which is caused by
external violent and visible means. The payable claim is the sum set forth in respect of any
of the insured persons for the contingencies as under-
Compensation
Item Description of Benefits payable % of the
Capital Sum Insured
a Death only 100
b Loss of sight of two eyes or loss of use of two hands or 100
feet or loss of use of one hand and one foot or loss of sight
of one eye and loss of use of one hand or foot.
c Loss of sight of one eye or loss of use of one hand or one 50
foot
d Permanent total disablement from injuries other than named 100
as above
e Permanent Partial Disability % as per policy
f Temporary Total Disablement Upto 104 weeks
maximum weekly
benefits not
exceeding Rs. 5000
Above Coverage is classified into 4 Tables of Benefit I, IA, II & III:
Table Of Benefits:
I (Death only- a above) ,
IA (Death & PTD i.e. a, b, c and d above) ,
II (Death, PTD & PPD i.e. a, b, c, d and e above) and
III (Death, PTD, PPD & TTD i.e. a to f above)
TTD is the Weekly Benefit/compensation (stated in f) which is 1% OF CSI MAX RS. 5000/-
Per Week Upto Max 104 Weeks.
Eligibility- AGE 5 TO 70 years
Additional Benefits-
1. Cumulative Bonus 5% Per Year Max 50%-, Sum Insured under items A, B, C, and D
above will be increased by 5% on each claim free renewal of the policy upto maximum
limit of 50%.
Note: Cumulative Bonus will be lost if the policy is not renewed within 30 days after its
expiry with this company.
2. Education fund: for two children upto age 23 years and per child Rs. 5000/- for two
Rs. 10,000/--
3. Transportation Of Body 2% OF CSI Max Rs. 1000/-
The following extra benefits may be covered on payment of additional premium:
Reimbursement of Medical Expenses incurred following an accident upto 40% of the
valid claim payable under item (a) to (f) above or 10% of the Capital Sum Insured for
Personal Accident Cover, whichever is less.
- 288 -
Classification Of Occupational Risks:
Normal Risks: Bureaucrates, doctors, layers, accountants architects, bankers, insurance,

administration, consultant, teacher, clerical jobs and similar occupation.
Medium: builders, contractors, engineers in supervisory jobs, veterinary surgeon, paid

drivers and people are engaged in similar nature of job, manual labour, police personnel ,
cash carrying employees, motor mechanics, machine operators, athletics , sportsman and
people engaged in wood working.
Heavy Risks: Persons working in underground mines, explosives, magazines, workers

involved in electrical installations with high tension supply, circus personnel, persons
engaged in activities like racing on wheels or horse back, big game hunting, mountaineering,
winter-sports, skiing , ice hockey, polo and persons engaged in occupation of similar hazard
and police/CRPF personnel engaged similar type of hazardous jobs.
Note: For classification of occupation risks not specified above, a reference should be made
to the Office.
Premium Rates:
The following are the annual rates applicable to proposals from persons (both male and
female upto70 years.
Table of Rate for normal Rate for Rate for Heavy

Covers
benefits risks medium Risks Risks
I a 0.40 per mille 0.60 per mille 0.90 per mille
I(A) a to d 0.45 per mille 0.65 per mille 1.50 per mille
II a to e 0.90 per mille 1.25 per mille 1.90 per mille
III a to f 1.5 per mille 2.00 per mille 3.00 per mille
1. Any combination other than those shown above is to be referred to DO.

2. Person aged 71 to 75 years 10% premium be loaded above 75 years to 80 years 20%
premium beyond 80 years premium loading to be decided on case to case basis
(cover is restricted to table I only). Policy can be renewed through out the life time.
3. For reimbursement of Medical expenses benefits the rates of premium are to be loaded
by 20%
4. Cover for restricted duty hours 75% premium of the above.
5. Family discount 5%
6. Minimum premium per policy-Rs. 30/- (net).
Capital Sum Insured (C.S.I.):

1. Table I & IA : 5 to 6 times of gainful employement annual income ( income from
interest, house/property rent, share and debentures not to be considered).
2. Table II : 4 to 5 times of gainful employement annual income( income from interest,
house/property rent, share and debentures not to be considered).
3. Table III: 2.5 to 3 times of annual income maximum Rs. 5 lacs
4. One can take policy combination of all the tables; however, total sum insured should
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not exceed to 6 times of annual income.
5. Family package Sum Insured- Earning member 100% CSI , Spouse ( non earning) 50%
of CSI maximum Rs. 2,00,000/- & dependent children 25% of CSI, max Rs. 50,000/-
Major Exclusions-
Claim under more than one of the sub clauses of cover, weekly compensation until total
amount is ascertained, intentional self injury, drug/alcohol abuse, venereal disease or
insanity, pregnancy, engaged in aviation works, breach of law, war & radioactivity .
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PERSONAL ACCIDENT INSURANCE (GROUP) POLICY
Policies can be issued to a group of people ( more than one person). Policy will be
issued in the name of the group. Insured is eligible for group discount if the number of
members covered is more than 100.
Cover: Death or bodily injury resulting solely and directly from accident which is caused by
external violent and visible means. The payable amount is the sum set forth in respect of
any of the insured persons for the contingencies as in Individual policy.
CSI to each will be decided based on the gainful income of the insured person
Policy does not cover Education fund to the dependent children, and Cumulative Bonus.
Medical expenses which may arise due to accidental injury may be covered on charging
additional premium of 20% .
Group discount on premium available as under-
Number of persons Discount %
Upto 100 Nil
101 to 1000 5
1001 to 10000 7.5
10001 to 50000 10
50001 to 100000 12.5
100001 to 200000 15
200001 to 500000 20
500001 to 1000000 25
Above 1000000 30
Policy may be with addition/deletion and premium adjustment clause.
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JANATA PERSONAL ACCIDENT POLICY
Coverage- Compensation is paid to the insured person/nominee for the death or permanent
total disablement which arises due to accidental violent external visible means.
Policy may be issued to individual as well as group. For Group policies, a discount on
premium is available. Policy can be issued to the person age 10 to 70 years for CSI Rs.
25,000/- , 50000/-, 75,000/- or Rs. 1,00,000/- with premium rate 0.45 per mille. Coverage
are as per table 1A of PA cover-
Compensation payable
Item Description of Benefits % of the Capital Sum
Insured
a Death only 100
b Loss of sight of two eyes or loss of use of two hands 100
or foot.
c Loss of sight of one eye or loss of use of one hand 50
or one foot
d Permanent total disablement from injuries 100
Policy can be issued for one year or for a period maximum of 5 years with premium rates –
Capital SI
1 year 2 years 3 years 4 years 5 years
(Rs)
25,000 15 28.5 40.5 51 60
50,000 30 57 81 102 120
75,000 45 87.5 121.5 153 180
1,00,000 60 114 162 204 240
For Group Discounts-

Number of persons Discount %
Upto 100 Nil
101 to 1000 5
1001 to 10000 7.5
10001 to 50000 10
50001 to 100000 12.5
100001 to 200000 15
200001 to 500000 20
500001 to 1000000 25
Above 1000000 30
Policy may be with addition/deletion and premium adjustment clause.

Policy does not have CB, Education fund and dead body carrying costs.
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PERSONAL ACCIDENT (FOR SCHOOL CHILDREN)
Covers- Death and Disablement arising due to accident caused by visible violent means
whilst in school, attending/returning from school on foot/bicycle/vehicle. CSI is Rs. 50,000/-
. Policy is issued to the student enrolled in the register of school, college and educational
Institutes.
Additional cover while using public/private transport system @ 0.1%

Benefits-
Compensation payable % of
Item Description of Benefits
the Capital Sum Insured
a Death only 100
b Loss of sight of two eyes or loss of use of two hands 100
or foot.
c Loss of sight of one eye or loss of use of one hand 50
or one foot
d Permanent total disablement from injuries 100
e Medical expenses limited to Rs. 150/- per student per
accident an Rs. 300/- per student for all accidents
during the policy period subject to an excess of Rs.
20/- for each and every claim.
f Hospitalization expenses limited to 10% of capital
sum Insured or Rs. 2000/- whichever is higher, per
student during any one occurence.
Policy can be issued to Individual or a group. Rate for individual is 1.25%o on CSI
Group Discount would depend on the size of the Group.
Cover is worldwide with the major exclusions as follows-

Limit of compensation will not be paid more than one section from a to d, Intentional self –
inflicted injury, Drug/alcohol, Venereal disease or insanity, pregnancy, aviation or ballooning,
racing hunting, mountaineering, winter sports and water sports, unreasonable activities in
school premises or picnic or excursion & war group of perils.
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STUDENT ACCIDENT (WELFARE) POLICY
Covers death, disablement due to accidental injury. Cover can be granted to the students
enrolled /registered in school, college or educational institutes. Policy with two compulsory
and two optional Sections:
Section I -covers accidental death, loss of two limbs or two eyes or one limb one eye,
loss of one limb or one eye & Permanent Total disablement.
Section-II: covers medical expenses due to accidental injury which may arise out of
school/college related activities –
While coming to school or college in own bicycle or any other vehicles.or while participating
in school tour as approved by school management.
Expenses covered-
Room charges and intensive care unit charge as provided by hospital
Nursing expenses
Surgeon, anaesthetist, medical practitioners fees, Anaesthesia, blood, oxygen, operation
theatre charges, surgical appliances, medicines and drugs, diagnostic material, X ray,
artificial limbs and similar expenses.
Pre and post hospitalisation medical expenses

Out patient treatment subject to an excess Rs. 250/-per claim
Section-III ( Optional cover): Educational Expenses

Reimbursement of additional Education Expenses upto one year due to temporary total
disablement for the period and due to which the student cannot continue her/his studies
during the academic session
Section-IV (Optional cover): AmartyaSikshaYojana

Compensation for the death of parent/guardian who is providing financial assistance for
studies.
Policy can be issued to individual as well as group.
Sum Insured & Compensation-
Scheme I Scheme-II Scheme III
Covers
(Rs) (Rs) (Rs)
Section-I: Personal Accident- Nil
a. Death 50,000 50,000 50,000
b. Loss of two limbs or two 25,000 50,000 1,00,000
eyes or one limb one eye
a. Permanent total 50,000 1,00,000 2,00,000 Excess
disablement
Section-II: Hospitalisation- Nil
a. Overall limit for 10,000 25,000 50,000
hospitalization
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b. Domiciliary 2,000 5,000 10,000
hospitalisation
c. Pre and post 1,000 2,500 5,000
hospitalisation
d. Out patient treatment 1,000 1,000 1,000
Section-III –Educational 5,000 10,000 15,000 Rs. 250/-
Expenses (optional) per claim
Section-IV: Death of the Nil
parent/guardian (optional)
PREMIUM :
Covers Section I & II (Rs) Section-III (Rs) Section IV (Rs)
Scheme-I 60 10 Rs. 45 per lac
Scheme-II 110 20 Rs. 45 per lac
Scheme-III 200 30 Rs. 45 per lac
Exclusions
Payment under more than one section under PA, Non medical expenses , Driving with invalid
licence, self inflicted injury, drug/alcohol abuse, insanity or AIDs, pregnancy, illness/disease,
racing, hunting & mountaineering, winter and hazardous sports, aviation & ballooning,
breach of law & war group of perils radioactivity.
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AMARTYA SIKSHA YOJANA
Covers- Expenses of Education of a student child in the event of death or total disablement
of the parent /legal guardian due to accidental injury .
The Insurer will pay to the insured in respect of all covered expenses to be incurred from the
date of occurrence of accident till the expiry date of policy or completion of the duration of
covered course, whichever is earlier but not exceeding the Capital Sum Insured in respect
of all claims-
1. Cost of tuition fees, hostel rent (inclusive of boarding expenses) , cost of books and
periodicals essentially prescribed by the head of the department/institution.
2. Examination fees
3. Cost of to and fro 2nd class rail fare for the student to reach the place where the parent/
legal guardian has met with an accident or the place where parent/legal guardian
resides.
4. Compulsory donation for festivals and picnic/excursions held in/on behalf of the
department/institution.
5. Cost of compulsory uniform prescribed by the institution
6. Any other compulsory expenses to be born under recommendation of the head of the
department/institution.
Eligibility
Student between the ages of 3 to 25 years, studying in a school/college/institution for a
specified course.
Parent/legal guardian age 22 to 80 years.
Two students can be covered under a single sum insured and a parent/legal guardian.
CSI & Policy period: Policy period 1/2/3/4/ 5 years and CSI ranges Rs. 10,000/- to Rs
10,00,000/- with multiple of Rs. 5,000/-
Ratings:
Premium rate 0.45 per mille
Long terms discount 5% for each year in excess of 1st year.
Upto 70 years normal rating and beyond 70 as per PA.
Policy can be issued to individual or Institution can take as group, Group discount based on
the size of the Group.
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TRAFFIC ACCIDENT
Coverage: Disablement/death resulting from road/rail accident. Policy has two sections,
Sec I covers personal accident section II covers Medical expenses arising out of such
accident. Policy is issued within the age band 18 to 65 years and the cover is for 24 hours.
Structure of compensation is as follows.
Section-I Sum Insured of Rs. 1 lac

Sr No Benefit Percent
1 Death 100%
2 Loss of 2 Limbs or 2 Eyes or One eye and One Limb 100%
3 Loss of one limb or one eye 50%
4 Permanent Total Disablement 100%
Section-II – Medical Expenses Sum Insured Rs. 1,00,000/-

In patient, Hospital maximum Rs. 1,00,000/-
Out patient expenses maximum Rs. 10,000/- within overall limit
Premium :Rs. 135/- Plus taxes
Exclusions- Non rail road accidental expenses, pre-existing injury, intentional self inflicted
injury, drug/alcohol abuse, insanity illness/disease, racing, hunting & mountaineering,
winter and hazardous sports, aviation & ballooning, breach of law & war group of perils
radioactivity. For complete list, please refer the policy bond.
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SUHANA SAFAR POLICY
Coverage – Covers individuals on domestic trips. Two sections, Personal Accident for
CSI Rs. 1,00,000/- and emergency accidental medical expenses Rs. 1,000/- & Baggage
within the value Rs. 5,000/- , 10,000/- , 12,500/-& 15,000/- Policy is issued on trip basis
maximum 60 days for insured and family member spouse and dependent children.
No.of 1 2 3 4 5 6 7 8
Persons
Sum 5000 10000 12500 15000 15000 15000 15000 15000
Insured
Premium 80 140 190 240 280 320 360 400
GST extra
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TRAVELLING EXECUTIVES INSURANCE
Salient Features:
The policy is a special contingency policy and provides for 24 hours for various contingencies
that executives may face during business trips including personal accident, loss of baggage,
loss of passports, contingency purchase following delay in checked baggage.
Policy is to be issued to India Resident only who makes frequent travels within and outside
India between 18 to 70 years of age. The policy is ‘Annual’ in nature.
Scope of Cover:
Section Coverage Sum Insured Premium Rate
I A. Personal Accident : Capital Sum Section I: 1.25%o
Cover shall be same as Table II Insured: 5 times (mille) on CSI
of Standard PA policy i.e. Death & annual income
Capital Benefits only. subject to a
maximum of Rs. 30
lakhs
PA Section shall automatically
extend to provide for actual
expenses incurred for the purpose
of repatriation of mortal remains
of the insured up to a maximum
of Rs.1 lakh
II A. Loss of Accompanied Baggage: Rate: 2.5% (per
Under this section, indemnity will cent) on the Sum
be provided for loss, destruction, Insured
damage by fire, theft or any
Rs. 25,000/=
other accident or misfortune of
accompanied baggage (clothing
and personal effects only) while
the insured is on tour.
B. Contingency Purchase:
This section covers expenses Rate: 2.5% (per
towards contingency purchases cent) of Sum
required to be made by the Insured
Rs. 5,500/=
insured on being temporarily
deprived of ‘Checked Baggage’
for a period of excess of 24 hours
in case of travel by Air only.
C. Loss of Passport:
Covers reimbursement towards Rate: 0.5% of Sum
actual expenses not exceeding Insured
Rs.5000/= for obtaining a
Rs. 5000/=
duplicate or fresh passport
following upon the insured losing
his passport in the course of an
overseas trip only.
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Other Guidelines:
1. Underwriting of these policies and their renewals must have prior approval of the
Controlling Office.
2. The CSI in respect of the PA section should be judiciously determined and Reinsurance
aspect should be taken care of wherever necessary considering all other PA policies
for deciding Total Sum Insured.
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PRAVASI BHARATIYA BIMA YOJANA POLICY
Policy Covers-
1. Personal Accident – cover of benefit as per table of benefit 1A (Death & PTD)
2. Hospitalisation Expenses – incurred in India & Abroad- cover commence once he/she
left India on work permit/visa
3. Repatriation expenses- following serious sickness /accident/death
4. Legal Expenses
There are four sections-

Section-I : Related to personal accident table 1A, Hospitalisation expenses arising due to
accidental injury & Repatriation expenses due to sickness arising from accident or accidental
death.
Section-II: Hospitalisation expenses due to sickness, Maternity benefit to the working women
Section-III: Hospitalisation cover to the dependent (Spouse& two children upto age 21) in
case of his/her death or permanent Total Disablement.
Section-IV: Repatriation Charges in case of substantive change in employment & Legal
expenses in case of substance change in employment.
Eligibility
Indian Emigrant having valid passport with emigration check.
Holding valid letter of appointment for job outside India
Emigration clearance by “Protector of Emigrants”
Policy Period: 2 years & 3 years
Sum Insured/Compensation:-
Section Cover Compensation Premium
Section 1A Personal accident-
Death only- Rs.10,00,000/-
PTD
Section 1B Hospitalisation Expenses due Rs.1,00,000/- (Rs.50,000/
to accident per hospitalisation) *2 years
Section 1C Repatriation Expenses due to One way economical air fare policy Rs
accidental injury/death with one attendant 275
Section IIA Hospitalisation expenses dueRs.1,00,000/- (Rs.50,000/ *3 years
to disease per hospitalisation) policy
Section IIB Maternity benefit to women Rs.35000/ Normal Delivery Rs.375
employees per Policy period +
Rs.50,000/ C Section per Taxes
Policy Perioiod
Section-III Hospitalisation cover to Rs. 50,000/-
dependents in case of death/
PTD
Section IVA Repatriation charges in case Actual economy one way air
of substantive change in fare
employment
Section IVB Legal Expenses in case Upto maximum of Rs.
of substantive change in 45,000/-
employment
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Personal Accident Cover in Package Policies
PA section is a part of the Package Policy. The policy rate, terms and conditions are as per
the Personal Accident cover for Individual
CLAIMS
1. Health ( Hospitalisation Claims)
Claim are processed by either the office ( without TPA) or by the TPA . Assessed claims are
approved and paid to the beneficiaries.
If there is a claim ( planned /unplanned claim), immediate claims intimation be given to

underwriting office as well as TPA.
There are PPN (Preferred Provider Network) & Network Provider hospitals who provide
cashless facilities for treatment. There is an agreement with the two type of service providers
who provide cashless services with the preagreed package rate/expenses for each type of
treatment. Agents may guide insureds to go for treatment in PPN or networking hospitals/
hospitals. The documents are to be submitted by the insured as the time of claim are –
i) Cashless facility- Treatment should be taken at PPN or Network provider.
ii) Inform TPA
iii) Obtain Preauthorisation from TPA
iv) Cash-less request forms are available with the PPN/Network provider
v) Fill up the form submit these to hospital, TPA will check the policy and other documents
and cashless authorisation done.
Re-imbursements-
Submit the documents to TPA-
i) Complete claim form
ii) Original bills payment receipts, medical history, discharge certificate/summary from
hospital/nursing home.
iii) Original cash memo supported by prescription, Original Payment receipts from
hospitals
iv) Attending medical practitioners certificate regarding diagnosis and bill receipts
v) Surgeons’ original certificate stating diagnosis and nature of operation performed
along with the bill and receipts.
vi) Investigation reports with bill/receipts
vii) Any other documents required by the company based on the nature of treatment
2. Overseas Claims- The claim intimation be given to the service provider and documents
be submitted their according to their advices
3. PA Claims-
Attending Doctors Certificate
Death Certificate
Post mortem Report
FIR/Panchnama
Police Inquest report ( where applicable)
Medical bill /discharge Certificate
Any other document required based on nature of claim.
- 302 -
4. Critical Illness-
a. Discharge summary /doctors certificate confirming diagnosis of the disease
b. Pathological /radiological/ other investigation report confirming diagnosis of disease
c. Any other documents required to confirm the diseases.
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RURAL INSURANCES
ANIMAL DRIVEN CART INSURANCE

Scope of Cover : Cover is divided into 4 sections :
1. Loss or damage to the Cart / Tonga / Coach by accident, fire and allied perils including
burglary or theft.
2. Death or permanent total disablement of animal used for pulling or driving the carriage due
to accident caused whilst attached to the Cart / Tonga / Coach.
3. Third party Liability arising out of an accident caused by the cart insured including
passengers liability upto Rs. 10,000/- per accident and Rs. 25,000/- for all accidents in a
year.
4. Death or disablement of the driver due to accident whilst mounting into or dismounting
from or driving the cart.
Sum Insured - Market value of cart and animals together.
Rate of Premium:
Section 1 & 2 Premium Rate
In case of slow moving animals Basic premium of Rs. 25/- + 1% of IEV on
animal and vehicle
In case of fast moving animals Basic premium of Rs. 30/- + 1% of IEV on
animal and vehicle
If Tonga, Cart and Coach is to be insured Basic premium of Rs. 25/- + 1% of IEV of
alone the vehicle
Section 3  A flat premium of Rs. 5/-
Section 4  A flat premium of Rs. 3/-
For extension of Section 2 2% extra on the value of the animal
(This section can be extended to cover death of animal due to disease or accident whilst in
stable at an additional premium of 2%).
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AQUACULTURE (SHRIMP/PRAWN) INSURANCE POLICY
Scope Of Cover:
The Scheme is applicable to duly licensed Farms constructed in accordance with the
Government notification growing Brackish Water Shrimp/Fresh Water Prawns by adopting
Extensive / Modified Extensive / Semi-Intensive System only. While giving cover, the following
points should be considered:
1. The cover should be given from Day-1 of stocking and no cover should be granted at
a later date after stocking.
2. Wherever possible, the farm should be inspected before accepting the proposal.
3. A panel of qualified experts in the field of Aquaculture should be prepared to utilize their
services while underwriting and/or claims management.
The insurance covers only Total Loss or destruction of Shrimp / Prawns as defined in the
scheme. Policy period would be for four and a half months from the date of stocking of the
post larvae. This policy provides two types of cover namely:-
(i) Basic cover – which covers natural calamities like Summer kill, Pollution, Poisoning,
Riot & Strike, Earthquake, Explosion/Implosion, Storm, Tempest, Cyclone, Flood,
Inundation, Aircraft damage, Terrorism etc.
(ii) Comprehensive cover – which covers all perils covered under Basic cover and death
due to disease excepting diseases caused by bad management and / or which are due
to nutritional deficiencies.
However, presently, our Company is extending Basic cover only.
Important Exclusions :
Malicious or willful negligence, error and/or omission, infidelity, improper management and/
or rough handling by insured/family member/employee, Natural Mortality, under-growth,
over crowding, Theft, dacoity, looting or clandestine sale/disappearance, etc
Licence :
If there is any Government legislation in force in the State / Union Territory in which the farm
is situated requiring a licence to set up and conduct Prawn / Shrimp culture operations in the
area, the farm should obtain such licence.
Premium Rate :
a) Basic Cover :
i. For highly cyclone prone zones (Eastern Coast) – 3% gross.
ii. Others – 2 % gross.
b) Comprehensive cover : 40% in addition to premium fixed for Basic cover.
Basis of Valuation (Sum Insured) :

The Scheme will cover only input cost.
Sum Insured shall be fixed adopting the formula given below :
Sum Insured = No. of seeds released x Expected Survival Rate (%) x ABW x input cost / kg
------------------------------------------------------------------------------------
100 x 1000
A.B.W. = Expected Average Body weight in grams.
Input Cost = As declared by the Insured.
- 305 -
Stocking Density : Stocking density must be restricted upto a maximum of 8/M2 for
P. Monodon and 10/M2 for P.indicus. In case of semi-intensive, 15 to 20pcs/M2.
Total Loss:
A loss due to any peril covered under the policy would be treated as total loss in case the
loss percentage at any one particular stage in one incident only equals or exceeds 80% of
the total population of Shrimps / Prawns in a particular pond just prior to occurrence of the
loss. No claim should be admissible under the policy if the loss percentage in a pond is
below 80%.
Excess : Company’s Liability in the event of total loss will be only 80% of the assessed value
in terms of policy condition.
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COCONUT PLANTATION INSURANCE
Salient Features:
1) This scheme is formulated to cover the coconut plantation from seedlings stage to 30
years. This policy is to be issued on annual basis.
2) This policy shall cover to indemnify the insured to the extent of loss of inputs.
3) This policy however will be issued in the name of an association or an organised and
registered body of farmers engaged in cultivation of coconut plantation. Individual proposals
may be considered for insurance, if the same contains minimum 500 seedlings/ plants at a
time.
Scope of Cover:
The policy shall cover total loss of or damage to the insured tree/ plantation due to any one
or more of the following perils:
• Fire (including forest fire & bush fire/lightning), storm, hailstorm, cyclone, typhoon,
tempest, hurricane, tornado, while in direct and immediate operation over the insured
area/flood and inundation (inspection report is necessary to cover these risks) riot,
strike and malicious damage/acts of terrorism.
This may be termed as `standard cover’.
The above list of insured perils can be extended to include named pest and disease,
Unseasonal rain and cold by charging additional premium at the rate stipulated in this
scheme. This may be termed as òptional cover’.
Sum Insured :
The sum insured shall be based on the cost of cultivation i.e. Input cost or cost of raising
/ development of insured trees whichever term is applicable depending on the crop which
is insured. This will be fixed by Regional Office in consultation with State Govt. Authorities,
NABARD or any other authorities which may be found necessary and useful for the purpose.
Rate of Premium:
For covering standard risks, the premium charged will be 1% of the sum insured. For covering
optional risks, the additional premium will be 0.25% of the sum insured.
Excess:
1) For the loss occurred at nursery stage/ 10% of the claim assessed per acre or
seedling stage : Rs.1000/- per affected acre whichever is
higher.
2) For the loss occurred at main field : 5% of the claim assessed per acre or Rs.
1000/- per affected acre which ever is higher.
Period of Insurance:
1) The policy may be issued for covering the plantation at nursery stage, i.e. till the date
of pulling from nursery; or
2) The policy may be issued for covering the plantation at main field for a period of 12
months maximum; or
3) The policy may be issued to cover the seedling to plantation at main field up to 12
months.
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1) Loss by theft including theft during or after the occurrence of any insured peril.
2) Loss due to insects, mite, pests and diseases.
3) Excessive / deficient nutrient, either in soil or by application.
4) Negligence /omission by insured/his servants.
5) Drought condition.
6) Human action, birds, animals & locust.
7) Fog & higher humidity
8) Rain water
9) Pollution
10) Improper maintenance etc.
- 308 -
DOG INSURANCE
Salient Feature:
Pet dogs of cross-breed, and exotic breeds between the age group of 2 months to 8 yrs are
covered under the policy. For insuring exotic & police security dogs and dogs with market
value more than Rs. 25,000/- prior sanction from RO should be obtained.
Identification : By cold branding or colour photographs and Muzzle/Foot impression.
Valuation & Health Certificate : Should be issued by qualified Vet. Surgeon. Vaccination
certificate should be insisted upon.
Scope of Cover : Death due to diseases and accidents. By paying additional premium, PTD
Risk can be covered. Public Liability Cover is available upto Rs. 50,000/-. Death due to
diseases contracted prior to and within 15 days of commencement of risk is excluded.
Cover & Premium :

COVER RATE %
a) Basic Cover – Death due to accident/Disease 6.0
b) Additional Covers
1. Disability Risk 1.0%
2. Breeding Risk: Death by whelping 1.5%
3. Loss of show entry fees to the extent of Rs. 500/- 0.5%
4. Public Liability in excess of Rs.50,000/- (on the additional 1.0%
annual limit)
Group Discount : for 3 to 5 No. of dogs - 10%

For 6 & above No. of dogs - 15%
Endorsement A (Dog show risks) :

In consideration of the payment of additional premium, it is hereby declared and agreed that
the Company will reimburse the Insured the loss of show entry fees subject of maximum of
Rs. 500/- if the dog insured under the Policy is unable to attend the `Dog Show’ due to death
covered under this policy and also due to permanent total disablment following accident or
disease provided that the disablement is covered on payment of additional premium as per
Disablement Clause.
Provided further that the reimbursement of fees is subject to production of documentary

evidence from the Kennel Club with whom the dog has been registered at the time of death.
Endorsement B (Disablement Clause) :

notwithstanding anything to the contrary contained in exception 2 of Section I of the policy
this policy is extended to cover permanent total disablement of dog stated in the Schedule
following accident or diseases covered under this Policy resulting in incapacity of the dog to
appear in any dog show subject to proof satisfactory to the Company.
Endorsement C (Breeding, Pregnancy & Whelping Cover) :

- 309 -
notwithstanding anything to the contrary contained in the Exception I (e) of Section I of the
Policy the dog insured hereunder is held covered against death during breeding pregnancy
and whelping.
Provided that :
i) this Section shall cease to operate as soon as litters are born.
ii) this Policy does not cover death of litters.
Subject otherwise to the terms, exceptions and conditions of the Policy.
Endorsement D (Third Party Extension) :

In consideration of the payment of additional premium it is hereby declared and agreed that
the limit of liability under Section II of Schedule of the policy is altered to read as follows :
a) Any one accident Rs..........
b) Any one period of insurance Rs...........
Subject otherwise to the terms, exceptions and conditions of the Policy.
- 310 -
DUCK INSURANCE
SALIENT FEATURES:
Farms consisting of minimum 100 ducks Under Govt. Scheme, the minimum No. is 50 (All
the ducks in the farm should be covered).
Age Group : 6 months to 2 years.
Sum Insured : Maximum Rs. 20/- per bird.
RATING:
Type Non Scheme Scheme
Non-migratory Re. 0.85 per bird/annum Re. 0.80 per bird/annum
Migratory Not allowed Re.0.90 per bird/annum

Vet. Exam. Certificate :
Pre acceptance Veterinary Surgeon Certificate is a must before acceptance.
Vet. Exam. Fee (Including Vaccination):

No. Of Ducks Fee
Upto 500 ducks Rs. 10/-
Next 501 – 1500 Rs. 25/-
Next 1501 – 3000 Rs. 30/-
Next 3001 – 5000 Rs. 40/-
Next 5001 - 10,000 Rs. 60/-
Note: Duck virus - hepatitis and Duck plague are covered, provided the vaccinations are
done in proper time and necessary veterinary certificates are produced.
Loss Payable : 80% of the assessed loss.
Indemnity Chart
24 to 72 weeks Rs. 20/bird
Under Non-Scheme, only non-migratory birds are covered. Under Scheme, both migratory
and non-migratory birds are covered.
- 311 -
ELEPHANT INSURANCE
Salient Features:
Elephants used for commercial purpose and/or religious purposes only can be covered.
Circus elephants are not to be insured.
Age group covered : 5 years to 60 years. Beyond 60 years of age and upto to a maximum
limit 65 years additional premium @ 0.5% shall be paid and satisfactory Vet. Health
certificate during each renewal above 60 years should be obtained.
Scope of Cover : Death due to disease contracted and/or accidents occurring during the
policy period. PTD is excluded. Death due to disease contracted prior to and within 21 days
of commencement of risk is excluded. Public liability is covered by collecting extra premium.
Premium Rate :
a) For Commercial Elephants : 5%
b) Temple elephants 4.5% (for religious purpose only)
Public liability is covered by charging Rs. 100/- separately for TPPI upto a limit of Rs. 1 Lakh
for the policy year. T.P. limit per person, per event should also be mentioned.
Loss Payable : 80% of assessed value of S.I. whichever is lower.

N.B: 1) For acceptance, the elephant should be inspected by the Company’s official.
2) D.O. can accord sanction to accept elephant insurance upto a S.I. of Rs. 2 Lakhs
and inform R.O. particulars of acceptance.
3) Above 2 Lakhs, prior sanction from R.O. should be obtained before collecting
premium. For renewal also annual inspection report by qualified Vet. Surgeon
should be insisted. Branches should not accept even provisional premium,
before obtaining sanction from DO or RO.
4) Certified value of the tusks will be taken as Salvage Value.
5) Mahout disability cover can be taken as add-on.
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FARMERS PACKAGE INSURANCE
SALIENT FEATURES:
Personal effects, household goods/village/cottage industrial unit belonging to individual
farmer or person engaged in village /cottage industries etc. are covered under this Insurance.
SCOPE OF COVER:
Section I: Fire & Allied Perils (As per standard Fire and Special Perils Policy)
This section covers loss of or damage to the building of À’ class construction including
contents (excluding village/cottage industrial unit) by Fire and allied perils including Terrorism.
Rate of Premium:
a) À’ Class Construction only - Re. 0.30 per mille.
b) Other than À’ class construction - Rs. 4.30 per mille.
Section II: Fire & Allied Perils (As per standard Fire and Special Perils Policy)
This section covers loss of or damage to the stock of Farm Produce /Agricultural implements
in Godown / in open by Fire and allied perils.
Rate of Premium:
a) In Godown Rs. 0.75 per mille
b) In Open Rs. 1.875 per mille
Section III: Burglary and House Breaking:

This section covers all contents in the premises against Burglary and House breaking. Sums
Insured on contents under this section as well as section I (b) of the proposal cum policy
schedule should be identical.
Note: Stock kept in godown (under Sec. II (a) can also be covered under this Section
provided the godown is of class À’ construction.
Section IV: Television Sets /VCR

a) This Section covers loss of or damage to TV/VCR/VCP in the insured premises by Fire
and allied perils, Burglary and/ or house breaking or theft, Accidental external means
and Mechanical or Electrical breakdown.
b) Legal liability upto a limit of Rs. 25,000/-
c) Damage to Insured’s property caused by breakage of the antenna fittings upto a limit
of Rs. 3,000/-
Section V: Pedal Cycle
a) This section covers loss of or damage to pedal cycle belonging to the insured by Fire
and allied perils, Burglary/Housebreaking or theft and Accidental external means.
b) Legal liability upto a limit of Rs. 10,000/-
Section VI: Personal Accident Insurance (P.A. / J.P.A.)

P.A.: The insured, his spouse and / or children, within the age group of 5 to 80 years can
be covered under this section. This insurance covers death, permanent total disablement,
permanent partial disablement and temporary total disablement.
Maximum limit of capital sum insured under this policy would be Rs. 1 Lakh.
Rate of Premium: As per P.A. manual and benefits opted for.
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Section VII: Artisans, Tiny Sectors etc. (As per standard Fire and Special Perils Policy):
This section covers artisans, village and cottage industries, tiny sectors, small scale
industry, Bio-gas plants etc. against loss of or damage to the building/ contents by Fire and
allied perils.
Rate of Premium: Rs. 0.75 mille
NOTE: The total value of risk including buildings, machinery, stock and stock in
process should not exceed Rs. 10 Lakhs.
Section VIII: Cattle & Livestock Insurance:

Under this insurance, animals are covered against death due to Disease or Accident
(including fire/lightning/famine).
Rate of Premium:
Cattle Sheep & Goat Pig Camel/Horse
Non-Scheme 4% 4 to 6% 5% 4%
Scheme (Net) 2.25% 2.75% 2.75% 2.75%
For details, refer Rural Insurance Section.
Section IX: Agricultural pumpset upto 10 HP :

This section covers the centrifugal pump sets (electrical/diesel) against loss or damage due
to Fire and lightning, Theft/Burglary (due to violent forceful entry provided the pumpset is
kept in locked enclosure), Mechanical/Electrical breakdown, RSMD and Terrorism.
Rate of Premium : Rs.1.25%
Section - X: Poultry Birds Insurance:

This cover is available to the poultry farm owned by the Insured and located within the
residential premises. This insurance covers all types of exotic and cross breed poultry birds
at a minimum number of 500, against Death due to Accident (including Fire, Lightning,
Famine, Riot & Strike and Civil Commotion) or Disease.
AGE (POLICY PERIOD) PREMIUM RATE (PER Bird) MAXIMUM
S.I.
a) Layer birds i) 1 day to 20 weeks 3.2% on peak value Rs. 75/-
ii) 1 day to 72 weeks 5.5% on peak value Rs. 75/-
iii) 21 weeks to 72 3.2% on peak value Rs. 45/-
weeks
b) Boiler birds i) 1 day to 8 weeks 1.5% on peak value Rs. 45/-
ii) 1 day to 6 weeks 1.2 on peak value Rs. 35/-
Note: The rate of premium as mentioned above is applicable under Non-Scheme Insurance.
Under Scheme Insurance, rate is to be charged as per the existing Govt. Scheme Policy.
Section XI: Fidelity Guarantee:

This section covers the Insured against pecuniary loss sustained by him caused by the act
of Fraud or Dishonesty committed by any salaried person employed by him in the premises.
Rate of Premium: Rs. 10/- per mille
Sum Insured: 10% of the sum insured under section I
Or Rs. 50,000/- whichever is lower.
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Section XII: Baggage Insurance:
This section indemnifies the insured against loss or damage to accompanied baggage by
Accident or Misfortune whilst the insured is travelling on tour or holiday, anywhere in India.
Section XIII: Animal Drawn, Cart Insurance:

This Section covers cart, Tongas and coaches drawn by buffaloes, bulls, bullocks, horse,
mules, donkeys and camels.
Rate of Premium: Rs.30 + 1% of IEV on animal and vehicle
Section XIV: Agricultural Tractors:

Rate of Premium: Refer Guide rates for Motor and Liability cover
Section Discount:
i) Where more than 4 and upto 6 sections (including 15% on Non-tariff/Non-market
tariff/ Market Agreement rates Section) are availed. Agreement premium only.
ii) Where more than 6 sections (including tariff/market 20% on Non-Tariff /Non-market
Agreement rates sections) are availed. Agreement premium only.
Note: Section I and II are compulsory under the policy.
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INLAND FRESH WATER FISH INSURANCE
Salient Feature:
This policy covers only total loss of fry/fingerlings of Indian carps like Rohu, Katla, Mrigal
and exotic varieties like Silver Carp, Grass Caro, Common Carp, etc., due to diseases or any
accident. Policy should be taken within 1 month from the date of stocking i.e., no policy
should be given to the farmers/bankers who approach for Insurance after one month from
the date of stocking.
Scope Of Cover:
Basic cover does not include Flood, Cyclone, Storm, Tempest, Hurricane, Inundation, etc but
can be covered on payment of additional premium. This policy also provides cover against
loss or damage due to epidemics pollution, malicious act by 3rd parties, riot and strike.
Premium: 2.4% basic on peak value of fish
Extension: The inland Fishery Insurance may be extended to cover the Fish Rearing Ponds
and bunds also. Fish rearing ponds/bunds be covered against Fire, lightning, explosion,
flood/cyclone, R.S.M.D., E.Q., and Aircraft Damages. Flood and bund cover should be given
only after the 1st Crop is over. The additional premium is 0.5% of the value of the Pond/bund
in non-flood prone areas and 1% in flood prone areas.
Optional Cover: Flood and Allied perils @ 2% for flood prone areas and 1% for non-flood
prone areas
Excess : 20% of the Assessed Loss
Period of Insurance : 12 months
• The operating Office to collect proposal duly completed and certified by the fishery
official.
• The minimum height of bund around the Tank/Pond must be 10 feet from the outer
surface of water area in flood prone areas and 9 feet for non-flood prone areas. The
cover should be given only, after the 1st crop is over.
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KISAN AGRITULTURAL PUMPSET INSURANCE
SALIENT FEATURES:
• Centrifugal Pumpsets (Electrical and Diesel Oil) and submersible Pumpsets upto 25
HP and used for Agricultural purposes are covered under the Policy
• Identification details like Make, Year of Manufacture and Serial Number to be
incorporated in the Policy
SCOPE OF COVER:
a. Electrical/Mechanical Breakdown
b. Fire/Lightning
c. Theft and Burglary (due to violent force able entry provided the pumpset it kept in a
locked enclosure)
d. Riot/Strike/Malicious Damage and Terrorism
PREMIUM:
• Standard Cover (excluding Flood) … 1.25%
• Flood Cover (Optional) … 0.50%
(Flood risk should not be granted in flood prone areas. It is preferable to grant this
where pumpsets are fixed firmly and kept in enclosures)
• Premium to be loaded by 50% for pumpsets which are more than 10 years old.
Rewinding Charges: Rewinding charges (Electrical Motors) is payable on actual basis

subject to a maximum of 15% of SI, after allowance on salvage value of burnt copper plus
policy excess.
Policy Excess: 1% of S I subject to a maximum of Rs. 100/- on each & every claim
Discounts:
a) NO CLAIM DISCOUNT (For Individual Policy):
If No Claim arises for 1 year 10%
If No Claim arises for 2 consecutive years 15%
If No Claim arises for 3 consecutive years 20%
No Claim Discount for Group Policy varies from 2.5% to 10%
c) LONG TERM DISCOUNTS:

2 years 15%
3 – 5 years 25%
6 – 9 years 30%
c) GROUP DISCOUNT can be given for 250 or more Pumpsets
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RABBIT INSURANCE
Age Group :
4 months to 4 yrs
Valuation & Sum Insured :

a) S.I. is based on the 100 % of the market value as valuation is done by the Veterinary
Surgeon.
Premium :
Non Scheme (Bank Finance) 7%
Scheme Animals 2.75% Net
Loss Payable :
70% of S.I. or market value at death whichever is less for Non-Scheme
Salvage: Rs.10-00 per Rabbit to be deducted.

SILK WORM (SERICULTURE) INSURANCE
SALIENT FEATURES:
a) Type of silk worms; Mulbery silk worms of Univoltine, Bivoltine or Multivoltine breeds
alone are covered.
b) Only disease free laying (DFLS) purchased from licenced seed prepares/ Grainears or
Govt / Grainages are covered.
Age Group:
From egg stage to cocoon stage are covered.
Scope of cover:
a) Death due to disease or accident
b) Total loss/ partial loss
1) Malicious/ willful injury
2) Theft/ Clandestine sale, missing
3) Non supply of mulberry leaves
4) Attack by Ants, Lizards, Rats
5) Loss of crop due to Pebrine disease up to 2 moult.
Valuation & Examination:

Certificate should be obtained from a Sericulture officer of state Sericulture Dept. at the time
of proposal.
Sum Insured:
Value of Cocoon at 5th /6th stage on input cost basis.
Premium Rate:
a) Tassar: 10%
b) Bivoltine: 8%
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c) Cross breed & Multivoltine: 7%
Extra premium 0.2% on the value of cocoons to cover transit risks from farm to market.
Indemnity:
Varies from 20% to 80% depending upon the stage of loss.
Claim documents:
1) Duly filled claim from
2) Mortality Certificates issued by sericulture officer indicating cause and extent of loss.
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NATIONAL MICRO GRAMIN SUSWASTHYA BIMA
This policy has been designed specially as a Micro Insurance Product to cater to the needs
of people of lower income strata of the society covering Hospitalization expenses of the
entire family and Personal Accident cover to the insured and his/her spouse.
This policy has 2 Sections:
• Section I covers Hospitalization Expenses on family floater basis and
• Section II covers Personal Accident and Outdoor Patient (OPD) expenses to the
insured and spouse due to accident only.
SECTION I :
(i) Hospitalisation Expenses payable through TPA
a. Total expenses incurred for any one illness is limited to Rs.15,000/-.
b. Company’s liability in respect of all claims admitted during the period of Insurance
shall not exceed the Sum Insured of Rs.25,000/- per person or family.
Hospitalisation Benefits
A Room, Boarding expenses as provided by the Hospital/ Nursing Home
B Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists Fees, Nursing
Expenses
C Anesthesia, Blood, Oxygen, OT charges, Surgical appliances, Medicines, drugs,
Diagnostic material & X-Ray, Dialysis, Chemotherapy, Radiotherapy, cost of
pacemaker, artificial limbs.
(ii) Maternity Expenses Benefit:

• First two living children of the insured/spouse will be covered under this benefit.
• Rs.1,000/- for Normal Delivery and 3,500/- for caesarean delivery.
• Expenses to be incurred in hospital/nursing home as inpatient.
• Waiting period of nine months except if induced by accident or other medical emergency
• Voluntary medical termination of pregnancy during the first twelve (12) weeks from the
date of conception are not covered.
• Pre-natal and post-natal expenses are not covered unless admitted in hospital/
nursing home and treatment is taken there.
SECTION II :
(iii) Rs.25000/- in case of death of insured and his/her spouse due to accident.
(iv) Sum Insured for OPD expenses cover in case of accident for both insured and spouse
is Rs.3000/-. This Sum is in addition to that mentioned in Section II (iii) herein above.
Age Group: 3 months to 60 years
Premium:
i) Single Insured : Rs.300
ii) Insured + Spouse : Rs.350
iii) Insured + Spouse + one child :Rs.400
iv) Insured + Spouse + two children: Rs.440
v) Insured + Spouse + three children: Rs.480
4) (Tax is to be added with each of the above premium as per norms)
EXCLUSIONS: As per policy
Notes:
Group Policy (Minimum number of family is 20) without any discount in premium
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NATIONAL MICRO JANATA PERSONAL ACCIDENT POLICY
This policy, is a worldwide cover providing compensation for death or bodily injury,
disablement resulting from accident caused by external, violent, visible means.
Proposer:
Any Individual with Photograph/Voter ID/Adhaar Card and or any other ID proof of the Insured
and Groups of low income and middle income (segment).
Table of Benefits Compensation

Death 100% of S.I
Total and irrecoverable loss of sight of both eyes or losses of use 100% of S.I
of two hands or feet or loss of sight of one eye and loss of use
of one hand or foot
Total and irrecoverable loss of sight of one eye or loss of use of 50% of S.I
one hand or foot
Permanent Total Disablement due to accident 100% of S.I
Main Exclusions:
• Death or disablement during racing, shooting, big game hunting, mountaineering, ice
hockey, winter sports etc
• Insanity
• Breach of law with criminal intent.
• Any existing disability
• Death or disablement under the influence of drugs or alcohol
Salient Features:
Age Group : 10 -70 Years
Capital Sum Insured (CSI) : Rs. 25,000/-And/Or 50,000/-
Premium Rs. 15/- for CSI Rs.25,000/ and Rs. 30/- for CSI Rs.50,000/-
Notes:
Tax Not Required
Group Policy: (Minimum number of persons are 20)
Group Discount: Varies 5-30% depending on Size exceeding 100 persons.
Long Term Policy is not permitted in term of IRDA Regulations-2005.
- 321 -
NATIONAL MICRO GRAMIN SURAKSHA BIMA
This is a Micro-insurance product designed for the lower income group of the society. This
policy has 3 sections-
• Section –I covers building and contents,
• Section –II covers hospitalization expenses of the family.
• Section –III provides Personal Accident cover to the insured and his/ her spouse.
SECTION – I : Building And Contents (Excluding Jewellery and Valuables)

The Company will indemnify the Insured in respect of loss of or damage to the Contents/Buildings
whilst contained in the insured premises by:
a) Fire, Lightning, Explosion of gas in domestic appliances
b) Bursting and overflowing of water tanks, apparatus or pipes
c) Aircraft or articles dropped there from
d) Riot, Strike or Malicious Act
e) Earthquake (Fire and/or Shock) subsidence and Landslide (including Rockslide) damage
f) Flood, Inundation, Strom, Tempest, Typhoon, Hurricane, Tornado or Cyclone
g) Impact damage
SECTION II : Hospitalisation Expenses

Hospitalisation Benefits
A Room, Boarding expenses as provided by the Hospital/ Nursing Home
B Surgeon, Anaesthetist, Medical Practitioner, Consultants, Specialists Fees, Nursing
Expenses
C Anesthesia, Blood, Oxygen, OT charges, Surgical appliances, Medicines, drugs,
Diagnostic material & X-Ray, Dialysis, Chemotherapy, Radiotherapy, cost of
Pacemaker, Artificial limbs.
Salient Features
• Pre-existing Diseases Cover after 36 months from first policy subject to un-interrupted
cover
• Maternity Benefits covered (for First Two Children) after 12 months waiting period
• Normal Delivery: Rs. 1,000/-
• Caesarean Delivery: Rs. 3,500/-
• Hospitalization for a minimum period of 24 hours.
• First 30 days exclusion from commencement date of the policy.
• TPA For Health Service Cashless or Reimbursement of expenses for treatment through
Network Hospitals across the country
• Exclusions: As per policy
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Section-III Personal Accident (Death, PTD – 100% of CSI, loss of one limb/one eye – 50%
of CSI)
Coverage:- Option- I
• Section-I : Protects House & Contents for Rs. 10,000/- against Fire & allied perils as
above.
• Section-II: Hospitalization for Rs.10,000/- family floater for Self, Spouse & Two
dependent Children upto 21 years.
• Section-III: Personal Accident covers for Rs. 10,000/- for each Insured &Spouse only.
Coverage:- Option– II
• Section – I – Protects House & contents for Rs 30,000/- against Fire & Allied Perils.
• Section – II – Hospitalization for Rs 10,000/- on family floater basis for self, spouse
and two dependent children upto 21 years.
• Section – III – Personal accident death and permanent disablement cover for Rs
25,000.00 for each of insured and spouse.
Group Policy (Minimum number of family is 20) without any discount in premium
Age Group- 3 Months to 60 Years
Premium Option-I : Rs. 146 + Tax Option-II : Rs. 162 + Tax
Documents Required- Photograph/Voter ID/Adhaar Card and or any other ID proof of the
Insured
- 323 -
NATIONAL MICRO UNIVERSAL HEALTH INSURANCE SCHEME (UHIS)
Salient Features
(i) The UNIVERSAL HEALTH INSURANCE policy will be available to both Individuals as well
as in Group.
(ii) Each Insured should cover all eligible members (insured persons) under one group
policy only.
(iii) In other words different categories of eligible members shall not be allowed to be
covered under different group policies.
(iv) It is not permissible to issue any unnamed group policy.
(v) The Individual Policy will be issued in the name of the earning head of family with
details of insured family members. The Group policy will be issued in the name of
the Group/ Association/Institution (called insured) with a schedule of names of the
members including his/her eligible family members (called Insured persons) forming part
of the policy.
Hospitalisation Benefits Limits

A Room, Boarding Expenses as provided Up to 0.5% of S I per day Up to
by the Hospital / nursing home.
1% of S I per day
IIf admitted in IC Unit
B Surgeon, Anaesthetist, Medical Up to 15% of Sum Insured per illness
Practitioner, Consultants, Specialists
Fees, Nursing Expenses / Injury
C Anaesthesia, Blood, Oxygen, Operation Up to 15% of Sum Insured per illness /
Theatre Charges, surgical appliances, Injury
Medicines & Drugs, Diagnostic Materials
and X-ray Dialysis, Chemotherapy,
Radiotherapy Cost of Pacemaker,
Artificial Limbs & Cost of organs and
similar expenses.
D Maternity Benefit – ONE CHILD Rs.2,500/- for normal deliver y
ONLY(With 12 months waiting period)
Rs.5,000/- for caesarean delivery.
Coverage
Section – I Hospitalisation Expenses Upto RS 30000/- PER FAMILY
Total expenses incurred for any one illness is limited to Rs.15,000/- (other than Maternity
Benefit)
Maternity Benefit-
• The Policy is extended to include one Maternity Benefit with liability under the Section
being restricted to Rs.2,500/- for normal delivery and Rs.5,000/- for caesarean
delivery.
• A waiting period of 12 months from inception of the policy is applicable.
• The above amount would also cover the medical expenses incurred in respect of
newborn child upto 3 months.
• However, this benefit is within the overall limit of Sum Insured of Rs.30,000/-
- 324 -
• This benefit is available only once to an insured person during the currency of the
policy or its subsequent renewals. i.e. only once during the life time of insured person.
Disability Compensation For Earning Head And /Or Spouse Of The Family
• Earning head of the family / spouse is hospitalized due to accident/ disease /illness
• Valid claim admitted under Section I of the policy
• Waiting period of 3 days,
• Compensation of Rs.50/- per day from the
• Fourth day of hospitalization upto a maximum of 15 days per policy period.
• Maximum liability of the Company is limited to Rs.750/- in all during the policy period
Personal Accident Cover To Earning Head

• Insured Person (earning head of the family)
• Bodily injury resulting solely and directly from
• Accident caused by outward, violent and visible means
• If such injury shall within 6 calendar months of its occurrence Lead to death ,Company
shall pay to the Insured the sum insured of Rs 25000/-
b. Exclusions: As per policy

Details Of Insured Person:
The insured shall be required to furnish a complete list of insured persons in the following
format. Any additions and deletions during the currency of the policy should be intimated to
the Company in the format given below:
Sr. No Names of Insured Relation with Age/ Sex
• Such additions and deletions will be incorporated in the policy from the first day of the
following months subject to pro-rata premium adjustment.
• No refund of premium will be allowed for deletion of Insured person in the event of
Insured Person having made / recovered a claim under the policy.
Age: 3 Months to 70 Years.
Payment Of Premium:
Coverage Premium
Individual Rs.300/-
Family upto 5 Members Rs.450/-
Family upto 7 Members Rs.600/-
Notes :
Group Policy (Minimum number of family is 20)
Group policy may be granted without any discount in premium
Long Term Policy is not permitted in term of IRDA Regulations-2005.
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NATIONAL MICRO RAJRAJESHWARI MAHILA KALYAN BIMA
The Insurance cover would be available on 24 hour risk basis. The Insured woman benefits
on accidental death/disablement of her husband. In case of an unmarried woman, accident
to the woman is covered.
• If the Insured/husband shall sustain any bodily injury resulting solely and directly from
Accident
• Caused by outward, violent and visible means, and
• If such injury shall within 6 calendar months (unless otherwise specified) of its
occurrence
• Lead to death/disablement as specified below,
• Company shall pay to the Insured woman the sum hereinafter set forth that is
• Subject to the insured opting for extended coverage
• On payment of additional premium as agreed to.
No claim is payable to the husband in case of death of his wife.
Eligibility:
All sections of women in the age group 10 to 70 years.
Coverage:
Basic Cover-
a) Death Rs. 25,000/-
b) Permanent Total Disablement Rs. 25,000/-
c) Loss one Limb and one Eye or loss of both Eyes and/or
loss both Limbs
Rs. 25,000/-
d) Loss of one Limb/sight in one Eye Rs. 12,500/-
Extended Cover-
Sr.
Risks Covered Compensation Payable
No
i. Temporary Total Disablement arising out of an accident Rs. 500/- per month subject
defined hereabove and resulting in hospitalization as to maximum of Rs. 1,500/-
an inpatient resulting in total disability to engage in any
occupation or work or employment
ii. Legal Divorcee: Actual Legal Expenses necessarily Actuals not Exceeding
incurred for legal divorce proceedings initiated during Rs. 2000/-
the currency of the policy and incurred during the
currency of the policy or during renewal of the policy
but once in life time of the insured
iii. Loss and or Damage to household goods/ personal Rs. 2000/-
effects whilst contained in house/ dwelling arising out
of fire, lightening, riots terrorism, storm, typhoon, flood,
cyclone and earthquake
Exclusions: As per policy

Rate Of Premium : The basic cover to be charged @ Rs.15/- per woman per year.
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The basic cover with extended cover @ Rs.23/- per woman per year.
Group Discount:
No. of Persons % of Discount
101 – 1,000 10
1,001 – 10,000 15
Note : Long Term Policy is not permitted in term of IRDA Regulations-2005.
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BHAGYASHREE CHILD WELFARE POLICY
• Coverage is granted for the unmarried girl age upto 18 years. The policy is designed
for the benefit of girl child so that in absence of their parent they can continue their
studies. Only one child below 18 can be covered.
• CSI under the policy is Rs. 25,000/- against the premium of Rs. 15/-
• The claim money is paid against the death of her parents (father or mother) due to
accidental injury and in case of her mother death even during child birth (within 7 days
of child birth/operation).
PAYMENT MODE-
Age :
1-5 YRS Rs. 1200/- to surviving parent/guardian
6-11 Years Rs. 1200/-
12-17 Years Rs. 2400/-,
Balance at the age of 18 years to the child.
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NATIONAL MICRO AGRICULTURE PUMPSET INSURANCE POLICY
This Policy covers (subject to the terms conditions and exclusions contained herein or
endorsed hereon) against unforeseen and sudden physical damage caused by and/or solely
due to any of the perils mentioned hereunder:
(i) Fire and/or lightning.
(ii) Theft/burglary (due to violent forcible entry, provided pump set is kept in locked
enclosure).
(iii) Mechanical/Electrical Breakdown.
(iv) Riot Strike Malicious damage.
(v) Terrorism.
Of any Pumping Set including starters switcher specified in the Schedule whilst at the premises
herein mentioned.
The liability of the Company for any one item will not exceed the Sum Insured set against such
item in the Schedule.
General Exclusions: As per policy and:

1. Loss or damage for which the manufacturer or supplier of the property is responsible
either by law or under contract.
2. The cost of dismantling the cost of transport to the repair shop and back to the Insured’s
premises and the cost of re-erection arising out of any damage to the pumping set.
3. Loss or damage where any inmate or member of the Insured’s household or of his
Business staff or any other person lawfully in the premises is concerned in the actual
theft of or damage to any of the articles or premises not where such loss or damage
has been expedited or in any way assisted or brought about by any such person or
persons.
4. Loss by theft of individual parts of the pumping set.
Sum Insured:
It is a requirement of this insurance that the sum insured shall be equal to the cost of
replacement of the insured property by new property of the same kind and same capacity
– subject to minimum Rs.5000/- & maximum Rs.30,000/-
Premium Rate :
• Rs 1.25% of the Sum Insured + GST.
• Flood Extension Cover is not permitted.
• Minimum Premium Rs. 70/- + GST.
Policy Excess:
1% of the sum insured subject to a maximum of Rs.100/- on each and every claim.
No Claim Discount:
i) If no claim arises for 1 year 10%
ii) If no claim arises for 2 consecutive years 15%
iii) If no claim arises for 3 consecutive years 20%
No other discounts are available.
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NATIONAL MICRO CATTLE INSURANCE POLICY
Salient Features:
1. This Policy covers the following whether indigenous, exotic or cross-bred.
a. Milch Cows and Buffaloes
b. Calves / Heifers
c. Stud Bulls
d. Bullocks (Castrated Bulls) and Castrated Male Buffaloes,
2. Sum Insured under the policy will be the Market Value of the animal.
3. Indemnity under the policy will be the sum insured or market value prior to illness
whichever is less.
4. The indemnity is limited to 75% of Sum Insured in case of a PTD claim.
Insurance Coverage:
The policy shall give indemnity for death due to.
a. Accident (Inclusive of fire, lightning, flood, inundation, storm, hurricane, earthquake,
cyclone, tornado, tempest and famine).
b. Diseases contracted or occurring during the period of this policy.
c. Surgical Operations.
d. Riot and Strike.
The Policy can also be extended to cover PTD on payment of extra premium;
i. Permanent Total Disability which, in the case of Milch Cattle result in permanent and
total incapacity to conceive or yield milk.
ii. PTD which in the case of Stud Bulls results in permanent and total incapacity for
breeding purpose.
iii. In case of Bullocks, Calves / Heifers and Castrated male buffaloes results in permanent
and total incapacity for the purpose of use mentioned in the proposal form.
Major Exclusions:
(A) Common Exclusions:
i. Malicious or willful injury or neglect, overloading, unskillful treatment or use of animal
for purpose other than stated in the policy without the consent of the Company in
writing.
ii. Accidents occurring and /or Disease contracted prior to commencement of risk.
iii. Intentional slaughter of the animal except in cases where destruction is necessary
to terminate incurable suffering on humane consideration on the basis of certificate
issued by qualified Veterinarian or in cases where destruction is resorted to by the
order of lawfully constituted authority.
iv. Theft and clandestine sale of the insured animal.
v. Consequential loss of whatsoever nature.
vi. Transport by air and sea.
vii. Any non-scheme claim arising due to diseases contracted within 15 days from the
date of risk are not covered.
(B) Specific Exclusions:

i. All the claims received without ear tag.
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Documents To Effect Insurance Coverage :
a. Proposal Form
b. Veterinary Health Certificate from a qualified Veterinarian giving the age, identification
marks, health, and market value of the animal in the prescribed format.
Identification Of Animal:
a. All insured animals should be suitably identified by natural Identification marks and
color should be clearly noted in the proposal form and Veterinarian’s Report.
b. Ear tags made of suitable material are applied to the ear of the animals and the code
number is entered into the Veterinary Health Certificate.
c. Photographs of animals may be insisted in case of high value animal.
Age Of Insured Animals:

Type of Cattle Age group
Milch Cows 2 – 10 years
Milch Buffalo 3 – 12 years
Stud Bull 3 – 8 years
Castrated Bulls & Male Buffalo 3 – 12 years
Sum Insured:
Minimum Sum insured is Rs.5000/- and Maximum Rs.30,000/-
Premium Rate: Only Non-Scheme and Without Ptd & Transit Cover: Premium rate @ 3.40%
+ Tax
Minimum Premium : Rs.170/- + Tax
Veterinary Examination:
The report of the veterinary surgeon giving the age, identification marks, health must be
obtained for each proposal. Vet. Surgeon fees @RS 20 per animal.
Claim Procedure
Death Claim: In the event of death of an animal, immediate intimation should be sent to the
Insurers and the following requirements should be furnished:
a. Duly completed claim form.
b. Death Certificate obtained from qualified Veterinarian on Company’s form.
c. Postmortem examination report if required by the Company.
d. Ear Tag applied to the animal should be surrendered. The condition of’ No Tag- No
claim’ will be applied if the tag is not surrendered..
PTD CLAIM
i. A certificate from the qualified Veterinarian to be obtained.
ii. The animal will be inspected by the company’s Veterinary Officer also.
iii. Complete chart of treatment, medicines used, receipts, etc., should be submitted.
iv. Admissibility of claim will be considered after two months of Veterinary Doctor /
Company Doctor’s report.
v. The indemnity is limited to 75% of Sum Insured.
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NATIONAL MICRO PIG INSURANCE POLICY
The policy provides cover for Scheme and non scheme animals against death due to diseases
and/ or accident.
Proposer
• Owners of Non Scheme Pigs Indigenous, Cross bred, exotic pigs belonging to the
insured and
• Owners of scheme Pigs Indigenous and cross bred pigs distributed to the beneficiaries.
Exotic animals are not covered
Basic Coverage
The policy covers scheme/ non scheme animals against death due to diseases and/ or
accident.
Indemnity
Non Scheme Pig - 80% of S. I. or M.V. at death as certified by Vet. Surgeon whichever is
less.
Scheme Pigs - 100% of S.I. i.e., Agreed Value basis.
Exclusions
In addition to the exclusions contained in the Cattle Insurance policy, the pig insurance is
subject to the following exclusions
Non Scheme Pigs Scheme Pigs

Disability of any kind Disability of any kind
Breeding and Farrowing risk Breeding and Farrowing risk
Swine Fever is covered if the animal is Swine Fever is covered if it is successfully
successfully inoculated and Vet. inoculated and vet. Cert. Given.
Cert.given.
15 days waiting period for illness
Particular Non Scheme Pigs Scheme Pigs
Applicability Indigenous, cross bred, Indigenous, cross bred
exotic pigs belonging to the pigs distributed to the
insured. beneficiaries. Exotic animals
are not covered.
Age Group 1 month to 5 years 4 months to 6 years
Sum insured Minimum Rs. 100% of market value at Value fixed by the purchase
5,000/- and Maximum Rs. the time of insurance as Committee (Loan + Subsidy)
30,000/-per animal certified by qualified person
Agency Commission 15% Nil
Veterinary Fees Re: 1.00 per animal Re: 1.00 per animal
Tagging Re: 1.00 per animal Re: 1.00 per animal
Retagging Re: 2.00 per animal Re: 2.00 per animal
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Policy Period: 1 Year Only
Ÿ Long Term Policy is not permitted in term of IRDA Regulations-2005.
Premium Rating/Pricing
Non Scheme Pigs Scheme Pigs
Premium rate 5% per annum under pig rearing 2.75% per annum
scheme financed by bank etc. the
rate of 3.5% is charged.
Extra rate 1% gross per annum for cross bred Nil

and exotic.
Minimum Premium: Rs.100/- for Non – Scheme animal.

Documents For Claims Settlement
A. Non-Scheme Animals: Claim form, Death certificate, Post mortem report, Ear Tag
certificate, Age proof certificate of animal.
B. Scheme Animals: Claim form, death certificate and certificate of Sarpanch of village,
President or any other officer of Co-op Credit Society, official of the Milk Collection
Centre, Supervisor/ Inspector/ Officer of the Banking or Credit Institution, or its
authorized nominee.
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NATIONAL MICRO POULTRY INSURANCE POLICY
The policy provides cover against death of birds due to accident (including Fire, Lightning,
Flood, Cyclone, Storm, Tempest, Earthquake, Strike, Riot, Act of Terrorism) or diseases
contracted or occurring during the period of insurance.
Customer: Owner of the Poultry Farm.
Poultry: refers to layers, broilers, parent stock (Hatchery) which are exotic and cross bred.
Indigenous and non-descript birds will not be insured.

Exotic birds means parents are of foreign breed which includes birds born in India as well as
those born abroad.
Cross breed bird means one of whose parents is of foreign breed.
Proposals in respect of birds other than the above do not tall within the purview of the
agreement.
The poultry farms should consist of minimum number of birds as under:
Under Bank finance (for all Types of Birds)
Govt. Scheme : 100 Nos
Non-Govt. Scheme : 500 Nos
General: Broilers – 100 per batch , Layers -500 perbatch, Hatchery - 20 birds per batch
EXCLUSIONS :
Malicious or willful injury or neglect
Transit by any mode of transport.
Improper and incompetent management
Loss/death due to Natural mortality, non-specified or unknown diseases or reasons.
Undergrowth and cannibalism
Theft and clandestine sale of the birds
Intentional slaughter of the birds except in cases where destruction is necessary on the
basis of certificate issued by qualified Veterinarian.
Loss of production i.e the failure due to any reason whatsoever to lay required no.of eggs or
small sized eggs in layers.
Marek’s disease, Ranikhet Disease, Fowl pox and Infectious Bronchitis.
Underwriting Guidelines:
All Birds in the farm/shed should be insured
Poultry farm should have Veterinary facility.
A veterinary certificate from a qualified veterinarian is necessary
In case of layer firms having more than 5000 birds inspection of the firms should be conducted
by the companies veterinary officer or panel doctor.
Veterinary health /examination fees should be borne by insurer as per following chart :
No. of Birds Amount (Rs.)
100 to 500 25
501 to 1000 30
1001 to 5000 40
5001 onwards 50
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Determination Of Sum Insured/Values To Be Insured:
Valuation of sum insured depends on the age of the birds and scheme of the birds such as
different value to be applied for Layer, Broiler, and Hatchery.
Rating/Pricing
Broilers – 1.50% of peak value per bird per batch 6.00% of peak value per bird per y e a r
Layers - 5.50% of peak value per bird upto 7 2 week
Hatchery - 5.00% of peak value per bird upto 72 week Valuation Chart –To be worked out on
the basis of multiplier factor and in consultation with the insured.
Excess – 5 % of the population in each batch.
NO CLAIM DISCOUNT
No claim after completion of 1 year 15% discount on premium
No claim after completion of 2 years 20% discount on premium
No claim after completion of 3 years 25% discount on premium
Important Documents for Claims Settlement:

1. Duly filled claim form along with Vet. P.M. Report for sample birds
2. Daily records of mortality, feeding etc.
3. Purchase invoices for the birds any other proof to substantiate the loss like photographs,
medical bills, etc. as and when required.
Note: - The insurer reserves the right to check periodically and depute for the purpose thereof
any representative.
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NATIONAL MICRO CAMEL INSURANCE POLICY
Risk Cover:
Death due to accident (inclusive of fire &/or lightning, flood, inundation, storm, hurricane,
cyclone, earthquake, tornado, tempest, famine) or disease (inclusive of Rinderpest,
Blackquarter, Hemorrhagic Septicaemia, Anthrax, Foot & Mouth disease and
Theilariasis) contracted or occurring during the period of the policy or surgical operation or
Strike & Riot.
Customer:
Owner of indigenous male and female Camels.
Basic Coverage:
In case of non-scheme - Liability would be 80% of S. I or Market Value whichever is less.
For Schme Animals – 100 % of S.I. in case of death.
Exclusions :
Malicious or willful injury or neglect, overloading, unskillful treatment or use of animal for purpose
other than stated in the policy without the consent of the company in writing.
Surgical operations other than required due to accident or disease occurring during the period
of cover and castration.
Diseases contracted prior to commencement of risk.
Intentional slaughter of the animal except in cases where destruction is necessary to
terminate incurable suffering on the basis of certificate issued by qualified Veterinarian.
Theft or clandestine sale of the insured animal.
Transport by air and sea Famine.
Surra .(the disease is covered only if the animal is successfully inoculated.)
Partial Disability of any type, whether permanent or temporary.
Permanent Total Disability resulting permanent total incapacity for the purpose of use
mentioned in the proposal.
The policy covers indigenous male and female camels in the Age-group of 3-12 years. The
camel under Govt/Antyodaya etc. is covered as per Govt Scheme.
Veterinary surgeon report giving age, identification marks, health of the camel and indication
that protective inoculation has been completed, must be obtained for each proposal.
Insurers may pay the veterinarian fee not exceeding Rs. 20/- per animal for examination of
the animal, the proposal for insurance of which has been accepted by the insurer.
All the animals proposed for insurance should be suitably identified by metal/ polyurithene
ear tagging and / or tattooing method.

Sum insured will be 100% of market value or Bank Finance whichever is higher.
Subject to Minimum & Maximum Sum Insured Rs. 5,000 & Rs. 30000 respectively.
Maximum Sum insured will be Rs. 9,000 + 10% as per the norms of NABARD.
Rating/Pricing
Non Scheme Animals : 4 to 6 %(gross), PTD-1%
Scheme Animals : 2.75% , PTD-0.85%(Net)
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Extensions/ Add Ons
P.T.D Risk Extension –
For non scheme -1%
For scheme animals– 0.85%
Documents For Claims Settlement

Claim form, Death Certificate, Post Mortem Report, Veterinary certificate, Valuation of
animal, Pathological test, Treatment chart, Ear tag
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NATIONAL MICRO HORSE (OTHER THAN BLOOD STOCK) INSURANCE POLICY
This policy covers subject to the terms, exceptions and conditions contained herein or
endorsed hereon the Company will indemnify the Insured against loss sustained as the result
of the death occurring during the period of insurance of any animal described in the Schedule
from accident illness or disease sustained or contracted during the period of insurance.
The liability of the Company in respect of any animal shall not exceed the Sum Insured set
against such animal in the Schedule or the market value of such animal immediately prior to
the occurrence of such accident or the contracting of such illness or disease whichever sum
shall be the less.
Exceptions : Kindly refer policy

The company shall not be liable under this policy in respect of :
1. Loss resulting from or arising out of
(a) Slaughter without the consent of the Company except in cases of fracture of a bone
necessitating immediate slaughter in the interest of humanity
(b) Destruction in compliance with the requirement of any statute or any order of any
Government Municipal or other Authority
(c) Castration or other surgical operation
(d) Unfitness or incapacity to fulfill the functions or duties for which the animal is kept or
employed
(e) Accident illness or disease sustained or contracted elsewhere than in India.
2. Loss due to death caused by Osteoporosis or Kumrie, or, depreciation in value due to
contracting Osteoporosis or Kumrie prior to death.
Customer:
Owner of indigenous, exotic or cross-bred drought and half drought horses, mares, ponies,
mules and yaks used for carrying weight, cart work, marriage purpose, drawing sulkies,
coaches, vans and utilized for farm work.. Bloodstock or race horses are not covered under
this scheme.
Basic Coverage
Horses are insured against death due to accidents and/or specified diseases contracted
during the period of insurance.
Indemnity
For non scheme animal - 80 % of SI or MV whichever is less.
For Scheme Animals - 100% of SI
Exclusions
• Malicious or willful injury or neglect, overloading, unskillful treatment or use of animal
• Intentional slaughter of the animal except in cases where destruction is necessary on
the basis of certificate issued by qualified Veterinarian.
• Theft and clandestine sale of the insured animal.
• Diseases contracted prior to and within 15 days of commencement of risk which is not
applicable in scheme animal
• Racing, Hunting & Bloodstock purpose.
• Diseases viz. Glanders, south African horse sickness, rinderpest, anthrax, black
- 338 -
quarter, foot and mouth disease, tetanus etc.
Age - 2 to 8 years under Govt. Scheme etc. as well as Non Scheme.
a) Horse & Donkey maximum age is 10 years under non Scheme, which may be extended
upto 12 years on payment of additional premium @ 0.5% for every year over 10 years.
Identification - Records of horse to be obtained from Forest Dept.

b) Hot Branding and Ear tag.
Veterinary Examination - Report of veterinary surgeon given the age, sex, health of the
Horse, must be obtained for each proposal.
Valuation - Valuation is to be done by qualified Veterinary Surgeon at the time of proposing

for insurance.
Determination Of Sum Insured/Values To Be Insured –

100% of bank loan or market value whichever is higher.
Subject to Minimum and Maximum Rs.5,000/- & Rs.30,000/- only.
Premium Rating/Pricing
Non-Scheme Scheme
Basic 4% gross p.a 2.75% p.a. net
Extensions/ Add Ons

P.T.D Risk Extension –
For non-scheme - 1%
For scheme animals – 0.85%
Transit – Death of animal arising out of accident to the carrying vehicle.

Upto 80m km- No additional premium
Above 80 km. – 0.50% for transit
Variants
Policy Period: 1 Year Group Discount

Group size Discount
21-30 15%
OVER 30 20%
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NATIONAL MICRO SHEEP AND GOAT INSURANCE POLICY
The policy provides cover for death of indigenous, cross-bred and exotic sheep and goat
due to accident and diseases contracted or occurring during the period of insurance.
Insurance Cover To Owner:

The policy shall give indemnity to owner of Sheep and Goat against death due to
Accident (inclusive of fire, lightning, famine, landslide, ear thquake, flood, inundation, Storm,
Tempest, Hurricane, Cyclone, Typhoon and Tornado)
Diseases contracted or occurring during the policy period.
Surgical operations
Riot and Civil commotion.
Terrorism.
Definition:
Indigenous animal means whose parents are of Indian breed.
Exotic animal means whose parents are of foreign breed. This includes animal born in India as
well as those born abroad.
Cross-bred animal for the insurance purpose means one of whose parents is of foreign
breed.
Exclusions: Kindly refer policy.

• Malicious or willful injury or neglect.
• Diseases contracted prior to commencement of risk.
• Intentional slaughter of the animal except in cases where destruction is necessary to
terminate incurable suffering on the basis of certificate issued by qualified Veterinarian.
• Theft and Clandestine sale of the insured animal.
• Consequential loss of whatsoever nature.
• Transport by air and sea
• Enterotoxemia, Sheep pox, Goat pox, Rinderpest, Foot and mouth disease, Anthrax,
Haemorrhagic, Septicaemia and Black Quarter. (covered only if the animal is
successfully Vaccinated.
• Indigenous, cross bred, exotic sheep and goat in the age group of 4 months to 7 years
are covered under the scheme.
• Blanket Policy can be issued to proposer (subject to obtaining monthly declaration of
records of each animals) maintaining regular records of each animal illness
suffered, treatment provided and vaccinations given.
Veterinary Surgeon Report:

The report of the veterinary surgeon giving the age, dentification marks, health of the animal
and indication that protective inoculation have been completed , must be obtained for each
proposal.
• Wherever Veterinary Surgeons are not available, companies may at their discretion
accept certificates of health issued by Livestock Inspectors who are Diploma holders.
• Insurers may pay the Veterinarian a Fee of Re. 1/- per animal towards examination fees
at the time of acceptance of proposal. Identification of Animals
• All sheep’s / goats/donkeys proposed for insurance should be suitably identified by
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metal ear tagging and / or tattooing method.
Tagging Charges :
Non scheme: Re: 1.00 per animal
Scheme: Re. 1.00 per animal
Retagging Charges
Non scheme: Re: 2/- per animal
Scheme: Re 2/- per animal

Sum insured will not exceed 100% of the Market value subject to Minimum Rs.5,000/- and
Maximum Rs.30,000/- respectively.
*
Premium Rates
Indigenous Animals - 4% gross per annum.
Crossbred Animals - 5% gross per annum
Exotic Animals - 6% gross per annum
Govt. and similar schemes - 2.75% net per annum
Group Discount
No of Animals % of Discount
Upto 100 animals No discount
101 to 500 5% of total premium
501 to 1000 7.5% of total premium
Above 10000 20% of total premium
Special Group Discount - A group consisting of 50 females and 2 males – 2.5%
Documents For Claims Settlement:

Claim form, Death Certificate, Post Mortem Report, Veterinary certificate, valuation of
animal, pathological test, treatment chart.
Note : Long Term Policy is not permitted in term of IRDA Regulations-2005
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PRADHAN MANTRI FASAL BIMA YOJANA
Objectives
1. To provide insurance coverage and financial support to the farmers in the event of
failure of any of the notified crop as a result of natural calamities, pests & diseases.
2. To stabilise the income of farmers to ensure their continuance in farming.
3. To encourage farmers to adopt innovative and modern Agricultural practices.
4. To ensure flow of credit to the Agriculture sector.
Highlights of the scheme

• There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops
and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops,
the premium to be paid by farmers will be only 5%. The premium rates to be paid by
farmers are very low and balance premium will be paid by the Government to provide
full insured amount to the farmers against crop loss on account of natural calamities.
• There is no upper limit on Government subsidy. Even if balance premium is 90%, it will
be borne by the Government.
• Earlier, there was a provision of capping the premium rate which resulted in low
claims being paid to farmers. This capping was done to limit Government outgo on
the premium subsidy. This capping has now been removed and farmers will get claim
against full sum insured without any reduction.
• The use of technology will be encouraged to a great extent. Smart phones will be used
to capture and upload data of crop cutting to reduce the delays in claim payment to
farmers. Remote sensing will be gradually used to reduce the number of crop cutting
experiments.
• PMFBY is a replacement scheme of NAIS / MNAIS; there will be exemption from
Service Tax/GST liability of all the services involved in the implementation of the
scheme
How does NIC (or any insurer) come into the picture?
Each State Govt invites bids by way of tender from all approved insurers to quote for notified
areas called Clusters before the Khariff and Rabi seasons. Only the successful Insurer(s) can
enrol farmers in the specified Clusters.
Farmers to be covered
All farmers including sharecroppers and tenant farmers growing notified crops in a notified
area (as per the State Govt Notification issued before each season) who have insurable
interest in the crop are eligible.
1. Compulsory coverage: The enrolment under the scheme, subject to insurable interest
on the cultivation of the notified crop in the notified area, shall be compulsory for
following categories of farmers:
Farmers in the notified area who possess a Crop Loan account/KCC account with
Banks (called as Loanee Farmers) to whom credit limit is sanctioned/renewed for the
notified crop during the crop season and
3. Such other farmers whom the Government may decide to include from time to time.
- 342 -
2) Voluntary coverage (Non Loanee Farmers) : Voluntary coverage may be obtained by
all farmers not covered above, including Crop KCC/Crop Loan Account holders whose
credit limit is not renewed.
Non Loanee Farmers can be enrolled through following Channel Partners:
1. Financial Institution/Banks where he is having his bank account

2. Directly by any designated Agencies, other authorised channel partners or Insurance
Intermediaries (Agents/Brokers)
As per PMFBY Operational Guidelines it is the responsibility of Channel Partners to
verify the Insurable Interest and collect the necessary related documents.
Non Loanee Farmers desirous of availing insurance shall fill up the proposal form and submit
following documents alongwith the proposal form :
1. Land Record
2. Crop Sown Certificate issued by any official of the Revenue Dept.(Talathi/Patwari) with
particulars of acreage
3. Applicable Contract/Agreement details in case of Share Croppers/Tenant Farmers
4. Bank Account Details (Copy of Cancelled Cheque required)
It is the responsibility of Agents/Brokers to upload the data of Non Loanee Farmers on the
www.agri-insurance.com Govt of India portal and send the premium collected to Insurance
Company within the Cut off Date as notified.
Premium Rates :
1. The Actuarial Premium Rate (APR) would be charged under PMFBY by Selected empanelled
Insurance Comapany. The rate of Insurance Charges payable by the farmer will be as per the
following table. The difference between the Actuarial Premium Rate quoted by the insurer
and the premium paid by farmer is to be claimed from the Govt by the insurer.
Maximum Insurance Premium

Sr No. Season Crop Payable by Farmer(% of Sum
Insured)
All Foodgrains and Oilseeds
2% of Sum Insured or Acurial
1 Kharif Crops(All the Cereals, Millets,
Rate whichever is less
Pulses & Oilseeds crops)
All Foodgrains and Oilseeds
1.5% of Sum Insured or Acurial
2 Rabi Crops (All the Cereals, Millets,
Rate whichever is less
Pulses & Oilseeds crops)
Annual Commercial/Annual 5% of Sum Insured or Acurial
3 Kharif & Rabi
Horticulture Crops Rate whichever is less
Risks covered under the scheme

• Yield Losses : Yield Losses (standing crops, on notified area basis – not individual
farmer’s loss). Comprehensive Risk insurance is provided to cover yield losses due to
non-preventable risks, such as Natural Fire and Lightning, Storm, Hailstorm, Cyclone,
Typhoon, Tempest, Hurricane, Tornado. Risks due to Flood, Inundation and Landslide,
Drought, Dry spells, Pests/ Diseases also will be covered.
• Prevented Sowing Losses : In cases where majority of the insured farmers of a notified
- 343 -
area, having intent to sow/plant and incurred expenditure for the purpose, are prevented
from sowing/planting the insured crop due to adverse weather conditions, shall be
eligible for indemnity claims upto a maximum of 25 per cent of the sum-insured.
Post Harvest Losses : In post-harvest losses, out of defined peril, coverage will be available
up to a maximum period of 14 days from harvesting for those crops which are kept in “cut
& spread” condition to dry in the field; here the Unit of Insurance for loss assessment is the
affected insured field of the individual farmer.
Localized Perils Claims : For certain localized problems, Loss / damage resulting from
occurrence of identified localized risks of hailstorm, landslide, and Inundation affecting
isolated farms in the notified area would also be covered; here also the Unit of Insurance for
loss assessment is the affected insured field of the individual farmer.
Unit of Insurance
The Scheme is being implemented on an ‘Area Approach basis’ i.e., Defined Areas for each
notified crop for widespread calamities - with the assumption that all the insured farmers, in
a Unit of Insurance, (defined as “Notified Area” for a crop), face similar risk exposures; incur
to a large extent, identical cost of production per hectare, earn comparable farm income per
hectare, and experience similar extent of crop loss due to the operation of an insured peril,
in the notified area.
Defined Area (i.e., unit area of insurance) is Village/Village Panchayat (by whatsoever name
these areas may be called) for major crops and for other crops it may be a unit of size above
the level of Village/Village Panchayat.
For Risks of Localised calamities and Post-Harvest losses on account of defined peril, the
Unit of Insurance for loss assessment is the affected insured field of the individual farmer.
Sum Insured /Coverage Limit

1. Sum Insured per hectare for both loanee and non-loanee farmers will be
same and equal to the Scale of Finance as decided by the District Level
Technical Committee, and would be pre-declared by SLCCCI and notified.
No other calculation of Scale of Finance will be applicable. Sum Insured for
individual farmer is equal to the Scale of Finance per hectare multiplied by area of the notified
crop proposed by the farmer for insurance.
‘Area under cultivation’ shall always be expressed in ‘hectare’.
3.Sum insured for irrigated and un-irrigated areas may be separate.
Calendar of activity
Activity Kharif Rabi
Loaning period (loan April to July October to December
sanctioned) for Loanee
farmers covered on
Compulsory basis.
Cut-off date for receipt 31 July 31st December
of Proposals of farmers
(loanee & non-loanee).
Cut-off date for receipt of Within a month from final Within a month from final
yield data harvest harvest
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Insurance Procedure: As per HO advice each season.
PMFBY CLAIMS PROCESS :
The claim intimation may come directly from Farmer, Banks or Govt official (Agriculture
officer) of the area for the following type of losses:
Season Start Losses:
1. Prevented sowing claims: These type of claims are payable to all the insured farmers
of the Insurance Unit. The claim amount payable will be 25% of the Sum insured.
Insurance cover terminates for those farmers to whom the claim amount is paid.
(The provision is invoked by the State Govt through notification based on the proxy
indicators - rainfall data, other weather data, satellite imagery, crop condition reports
by District level State Govt official, media reports and area sown data released by State
Govt).
2. Localised Claims: These claims are intimated individually by farmers and the individual
survey is carried out for each field of insured farmers. The localised claims occur due
to Landslide, Hailstorm, Innundation only.
Claim has to be reported within 48 hrs.
3. Midseason Adversity: On Account payment of 25% of the likely claim is payable

subject to adjustment against the final claim to the farmer as immediate relief due to
adverse seasonal conditions. All the farmers of the Insurance Unit are eligible if the
expected yield is likely to be less than 50% of Threshold Yield. The provision is invoked
by the State Govt through damage notification based on the proxy indicators ( rainfall
data, other weather data,satelite imagery, and crop condition reports by district level
state govt official, media reports)
End Season Losses:

4. Post Harvest Losses: These claims cover post harvest losses on individual plot basis
if the harvested crop kept in a cut and spread condition and if within 14 days of harvest
damaged due to cyclone, cyclonic rain,unseasonal rain.
5. Yield Claims: PMFBY follows Area Approach for determination of yield claims. Govt
declares Threshold Yield at the beginning of the season and the same is compared
with the Actual yield available after conduct of Crop Cutting Experiments (CCEs) and
the claim is payable in the proportion of sum insured and indemnity level . All the
farmers of Insurance Unit are eligible for claim.
Note1: The risk is terminated after payment to farmer if the prevented sowing claims are paid
by insurance Company.
Note2: In case of Localised claims & Post Harvest Losses since the claims are paid on
individual basis, if the claim amount paid is less than the claim payable under yield claims
then farmer is eligible for difference since the yield claims are payable on Insurance Unit
level. If the claim under Localised claim section is more than the yield claim then there is no
recovery from the farmer.
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Claims are paid to bank/financial institution if the farmer is covered through them and the
amount is then credited by banks to farmer’s account. Bank should issue certificate to
insurance company alongwith the list of farmers account credited. If the farmer is covered
through Agents/Brokers then the amount is directly credited to the farmer’s Bank account
which he has submitted at the time of taking insurance through Agent/Brokers.
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A WORD TO THE AGENT
National Insurance is one of the largest non-life Insurance Company in India. Working with
National Insurance is not only professionally challenging but also financially rewarding.
Kindly enroll as an agent and explore opportunities for a wonderful career.
Benefits:
• No limit on income
• No retirement age
• No investments
Respect, Recognition, Rewards along with Remuneration is unlimited for you as a NATIONAL
agent. Now, you can build a business empire, which can be passed on, to the next generation
Take the right decision- Join National Insurance as an Agent.
What’s In Store For You As A National Agent?

When you join National Insurance,
You become a part of the family of one of the largest non-life Indian insurers serving the
country for 110 years.
You can take pride in representing a Company which has a lineage of being the most
trustworthy and well managed State owned General Insurance Company in India.
You inherit a strong and competitive product line.
You become part of our structured training on product, process sales techniques and our
personality development programs.
You have the opportunity to become a Star Performer and enjoy Club Membership benefits.
Other benefits you enjoy include:
• Monthly Commission
• Rewards and Recognition Program
• Hassle-free claim process
• Tremendous renewal support
• Business Promotional Prize Scheme
How to become an agent of National Insurance?

Eligibility:
• Age - 18 years and above
• Qualification - 10th pass or equivalent examinations conducted by recognized Board or
Institution.
• Candidate should not have any other non-life insurance agency
How Much To Be Invested For Becoming An Agent Of NIC?

Only Exam Fee of Rs.502/ and no other fee (No Fee For Training, Registration or even
Licensing)
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CHECK LIST for Documents submission:-
(The documents to be self attested and originals to be produced for verification by NIC
official.
Documents to be submitted by the applicant while applying for agency:-
(a) Form-1A (Mandatory for all new applicants).
(b) Form-1B (To be submitted in addition to Form-1A if the applicant is already a Life
Insurance Agent in any of the Life Insurance Organisation).
(c) Recent Pass port Size Photograph - 1.
(d) PAN Card Copy.
(e) AADHAAR Card Copy.
(f) GST Certificate Copy (if applicable).
(g) Basic Educational Qualification Proof (10th or +2 Certificate copy).
(h) Address Proof (copy of Ration card / Driving Licence / Aadhaar Card).
TRANSFER of existing agents from other Non-Life Insurer to NIC: Form-1C (Agency
(i) Cessation Letter), obtained from his existing non-life Insurer to be submitted along
with Form 1-A
Documents to be submitted by the applicant after Passing Agent’s Examination:-
(j) Agent’s Exam Score Card Copy.
(k) Bank A/C Details Proof – Cancelled cheque leaf (or) copy of bank pass book front
page.
New Agency: 12 “R”s to be followed by the new applicant:
Reach Our office – Divisional office or Branch Office or Business Centre.

Register Your name in IRDAI portal. It will be done by our Agent Co-ordinator (AC) in BO/
DO
Require Exam Batch number which will be generated on IRDAI portal by our Agent
Co-ordinator
Remit Exam fee online (www.irdaonline.org>online payment of Exam fee Insurance
Institute of India Link and choose available exam date and time )
Receive Exam intimation in your mobile & Generate Hall ticket in the above link
Regional Training Centres, in-house training centres of NIC will coach you for the exam
Refer IC-38 Book to be downloaded from www.irdaonline.org by you for exam
preparation
Record Minimum 35% in the exam and get passed.
Repeat If not scored the minimum, then again batch no. generation by Agent Co-
ordinator and exam fee to be paid online.
Register For agency, if passed by obtaining Agency Appointment Letter
Receive Agency Code from BO/DO/BC
Relate Yourselves with NIC as Agent and start doing business.
Online Payment Of Exam Fees:

The DAC or BAC will generate the URN – Unique Referrence Number & Exam Batch
number in the IRDAI portal (both U & E numbers will be identical) and the same will be
informed to the candidate. This will be done after obtaining the preferred on or after date
from the candidate. The candidate with the URN details will make the online payment by
going through the www.irdaonline.org > online payment-insurance institute of india link –
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after completing the payment the candidate can enter the same website and in the same
link can see the available exam dates through the “exam seat allocation” option and choose
the date as per his convenience. Instantly he will be confirmed for exam and will receive
a sms to his registered mobile phone number. He can generate the hall ticket in the same
website.
Exam:
1. It is online exam. Maximum question will be 50 in multiple choice type. Each carries 2
marks
2. While applying for Agency, the candidate has to choose the language for exam and no
change afterwards.
3. The candidate has to take the exam in the exam centre chosen by him
4. Candidate who have given 17 right answers (34%) will be considered passed. The
result will be instant.
Exam Tips:
1. The candidate is to attend the pre-recruitment training conducted by RTC’s and ATIs of
NIC
2. Mock Test practice in IRDAI – IC 38 – Non-Life Agents Insurance Exam
3. In “YOU-TUBE” chapter-wise classes is available
The candidate is to download the IC 38 book from www.irdaonline.org which is available in
various languages
Exam Score Card:

The candidate can download the score card from www.irdaonline.org >
onlinepaymentinsuranceinstituteofindia link.
Re-Appearance In The Exam:

In case, if the candidate is absent or failed in the exam, he can reappear by paying the
exam fee again. In which case the DAC or BAC to be approached for exam batch number
which will be generated in the IRDAI portal. Now the batch number will be suffixed with “1”
which indicates the number of extra attempts. There is no limit for number of attempts. But
candidate has to complete the exam within 6 months of registration (URN generation date
in IRDAI portal)
Composite Agent: To become Composite Agent, besides obtaining licence with NIC, the
Agent can apply for licence from one life insurer and one Health Insurer. But only one from
each type of insurers. Exam is must with each insurer.
Renewal Of Agency Registration (Agency Licence or ACCR) :-

Timely renewal of Licence will avoid delay in commission receipts.
1. Agency Licence, now called Agent Appointment Cum Certificate of Registration
(ACCR) has to be renewed once in 3 years; and to be renewed 3 months in advance
of its expiry date. For considering the renewal application, the minimum business done
by the agent should be Rs.75000/- for 3 years.
2. Renewal Documents : (i) Renewal Application or a letter from the Agent, (ii) PAN Card
Copy (iii) AADHAAR card copy (iv) Recommendation from the office.
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No renewal fee is charged by NIC or no requirement of mandatory training before renewal.
Besides renewing the ACCR with NIC, the Composite Agent has to approach his Life
Insurer for licence renewal.
Functions of an Agent :
1. To solicit, procure and service General Insurance business and to conserve business
already procured.
2. In procuring General Insurance business, the agent shall:
a) Take into consideration the needs of proposers and advise them suitably.
b) Make all reasonable enquiries about the proposed risk and bring to the notice of
the company any adverse feature.
c) Take all reasonable steps to ensure that any changes in the risk are promptly
intimated to the company.
d) Help the company to ensure prompt settlement of claims whenever such help is
required by the insurance company
e) Maintain contact with Policy holders and render active service regarding
nomination and assignments of policy whenever necessary.
f) Ensure that renewal notice is sent to the policy holders in time to solicit renewal.
g) Render reasonable assistance to claimants in filling up forms and coordinating
with the Company in settling claims.
2. Agents have the authority to collect premium and accept a risk for and on behalf of the
Company and the same has to be submitted to the concerned office where the Agent has
been appointed within the closing business hours.
Agent Co-Ordinators (RACs / DACs / BACs - Agency Vertical Team): Agent Co-ordinators
are officials of NIC. They are designated as Branch Agency Co-ordinator (BAC) in Branches,
Divisional Agency Co-ordinator in Divisional Offices and Regional Agency Co-ordinator
(RAC) in Regional Office.
The Co-ordinator in each operating office will be assisting our Agents in incentive payments,
grievance handling, renewal of agency registration, training intimation, conducting monthly
agents meet, enrolling new agents etc.,
AGENT BUSINESS PORTAL (ABP)
Every Agent can register himself / herself for working in Agent Business portal and start
issuing policies. An amount of Rs.25/- is given to portal users for each policy generated
through portal. This is in addition to regular agency commission and other applicable
incentives.
Connectivity, Speed, Issuing polices on a holiday, sending soft policy copy through mail -
These are all comparatively better and possible to Agent Portal Users. Therefore, Agents are
advised to get familiar with ABP. The premium and other reports in the ABP are instant and
useful to the agents.
There are two separate Agent Portals, one for EASI offices and another for Genisys Offices
as detailed below. The portal undergoes constant improvements. Therefore, Agents should
update themselves with the latest developments in the portal.
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EASI Offices: (Agent Business Portal)
Procedure: Agent Login For EASI

Name of the site (URL): https://nationalinsuranceindia.nic.co.in Choose “Advanced” Choose
“Proceed to nationalinsuranceindia.nic.co.in unsafe” (Please note that necessary steps
have been taken to make it safe and may move to safe state any time)
Go to the link of Agent Portal and select stakeholder “Agent”
For New Users, Choose “REGISTRATION” (if already registered choose LOGIN). Agent
needs to enter his License Number, PAN Number and Date of Birth for identifying himself for
online access. If the information provided by the Agent matches with the data updated in
EASI, system will automatically send an email which will contain the User ID and Password
for logging into the Agent website.
User ID will be normally your Sales Channel Code. If Agent does not have Email ID / Mobile
Number or the data is not registered in EASI he will not be able to access the online website.
If there is mismatch in email id, the same requires to be corrected / updated.
These details is to be given to HO DATA Governance team for updating in MDM. The email
id is to be unique and will have to be created with the personal details of the Agent. The
password provided in the email will be a default password which the Agent needs to change
on his first login. The Agent also has to set security questions / answers for future use. The
security questions / answers will be utilized when the account is locked or Agent forgot his
password. On completion of the online registration and setting up the Agent account during
first time access system will display the Agent Dashboard
Menu Available In The Home Page:

a) Home
b) Products
c) Quotes
d) My Customer
e) My Leads
f) Pay Online
g) Services
h) Reports
i) Transaction History
j) Downloads
Products available for Underwriting on Agents Portal for EASI (Renewal & Fresh policies):
1. Fire Policy (Residence Only)
2. Motor Package – All types of vehicles
3. Motor Liability Only Policy
4. Long Term - Two Wheeler Package Policy
5. Parivar Mediclaim Policy
6. National Mediclaim Policy
7. Universal Health Insurance Scheme
8. Overseas Mediclaim Policy
9. Individual Personal Accident
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10. Individual Janta PA
11. House Holders Policy
12. Gramin Swasthya Bima
13. Gramin Suraksha Bima
Reports Available In The Portal What Are All The Documents That Can Be
Downloaded In The Portal
01) Business Report  Premium and 01) Commission Structure
Claims Details pertains to the Office 02) Circulars
with which the Agent is mapped 03) Miscellaneous Documents 
02) Customer Facilitation Report  A) PROPOSAL FORM
a) Policy Details B) POLICY WORDINGS
b) Generated Renewal Notices C) CLAIM FORMS
c) Renewals for a given period D) BROCHURE
d) Claim Status  Intimated/Settled/
Reopened/Closed
e) Outstanding Claim Status
03) Sales Channel Report 
a) Premium Register pertains to that
particular agent
b) Premium Summary pertains to that
particular agent
c) Agents’ Bill Detail of that particular
agent
d) Agents’ Bill Summary of that particular
agent
Type Of Payment Modes Acceptable In The Portal:

A) Debit Card
B) Credit Card
C) Internet Banking
D) Premium Deposit Of The Agent
E) Customer’s Cash Deposit A/C With Operating Office
F) Customer’s cheque (being introduced)
Underwriting Rules – Agent Business Portal (Easi Offices)

Product Auto UW Rules (Quote will be released online if the
following parameters are met)
1. PC - Private Car Vehicle Age IDV <=10 lakhs <=7 years
2. MCY – Two Wheelers Vehicle Age <=10 years

IDV <=1 lakh
3. MC – Individual Mediclaim Age between 18 and 45 years for self. For others age
<=45.
Pre-existing disease = NO for all the insured persons
4. OMP-BH – Overseas Plan = A1, A2 & K AND Age <=60
Mediclaim (B & H) Plan = B1 & B2 AND Age <=40
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5. PA – (Individual Personal Sum insured <=3 lakh
Accident) Sum Insured / Monthly Income <=50
Risk Category = Normal OR Medium
Table 3 Age between 18 and 60 years for self. For
others age <=60.
All other Tables Age between 18 and 70 years for self.
For others age <=70.
No Disability
6. HHI – Householder’s - No rules -
Insurance
7. Fire Only Dwelling Premises
8. JPA – Janta Personal Age <= 45 years
Accident
9. PM – Parivar Mediclaim Any member Suffering from Hypertension = NO
Any member suffering from Diabetes = NO
Age of any family member <= 45
Sum insured <= 5 Lakhs
Any family member should not have pre-existing
disease
10. UHIS – Universal Health Age >=5 and <=70
Insurance Scheme
11. PCV and GCV Vehicle Age <= 5 years
IDV <= 12 Lakhs
Key Operations: Quote- My Customer-Payonline-Reports-Underwriting (1 below the

other o/s table)
1. Giving Quote: For new policy and for renewal of Policy:
Quotes, Get quote, searching existing customer (by customer id) –
Register customer in case New – New Customer – Fill in required details – generate customer
id –
Enter proposer details – click on get quotes – system generates the quote -& premium.
Options provided are “buy now”, “buy later”, “modify”, “print”. Agent can save quote to
buy policy later. View Quote – Quote – View Quote – search quote by customer id / Quote
Status / Date-wise.
Can Renew, Review, Revise Quotes. Renewal Quotes are pre-fixed by “R”. RENEWAL –
my customer – Renew Policy – Search by Customer ID / Policy number (Only policies of
customers, attached to the agent can be renewed / fetched)
2. New Policy: Detailed as above

3. Renewal Of Policy: Detailed as above
4. Premium Deposit Account
Premium Deposit (PD) = Sales Channel Code = EASI Agent ID Starts with 9000....... It is
mapped with the Operating Office & Agent Account at Portal.
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Replenishing the PD Account - Online
(Through PAY ONLINE option in the portal)
Deposit Balance Replenishment Through Debit/Credit/Net Banking .
Offline: Use Cheque/Cash. Ask the Official to deposit the amount in your Sales Channel/PD
Account Code.
5. Agent Bill Details/Summary Reports & Generated Renewal Notice reports will be
mailed & hence this option might be removed from website
Moving Forward
• Rs. 25/- per policy is paid as Reimbursement of Printing & Other Stationery Cost.
• Agents can allow discounts upto 50% on Motor Policies
• Submit Proposals, back papers to the Operating Office on Weekly Basis.
• Contact Info of Agent is captured in Policy generated through Portals.
• Act Only/Liability Only Policy can be underwritten through EASI-ABP from 7.7.17.
GENISYS OFFICES (Agent Business Portal):
PROCEDURE: AGENT LOGIN - GENISYS: Click on New User Registration in Genisys

Agents Portal in \\niconline (while accessing from NIC office intranet) or http://niconline.
co.in (while accessing from outside NIC network).
NEW REGISTRATION PAGE. Please select RO Code from the RO. Code drop down list
for the Office where Agent is mapped. Please select Office Code under the selected RO
from the Office Code dropdown list where Agent is mapped. Please provide License No.,
PAN No. and Date of Birth. Click on Declaration Check-box. Click on Submit. Verification
Page. The information provided shall be validated from NAP (New Agents Portal in http://
nicmasters/input)
After correct verification, Registration Process will be successful.
Login To Agent Portal: In order to sign in user needs to put the username and password
(default password at first time login) and click on login button. When user logs in first time
then FIRST TIME LOG IN page will come where user need to change his default password
Underwriting Policy:
To generate a new policy, first user has to click on POLICY TRANSACTION from
the MODULES tab and then click on U/W Motor Policy or Mediclaim Policy from
FUNCTIONALITIES tab.
Then user will have to fill up all the fields of Personal Details of Insured Person. Select other
information like State, District, pin code etc. from the drop down menu.
Next page user have to provide details like No. of persons, Date of Birth, Sum Insured etc.
incase of Mediclaim Policy & Vehicle Details. Manufacturing Year , Fuel type, Type Of Body
from the drop down list from Vehicle Details. Insured’s Declared Value for Motor Insurance
Policy
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After clicking the Next button the following page will appear where user will get Net
Premium, Service Tax and Total Premium. Click on Next button where page will appear
for premium collection. Select mode of payment (CD) and then click on Collect Premium
button. User can view worksheet after clicking on ‘View Worksheet’ link.
A receipt will be generated and user needs to click on Print schedule to generate the policy
schedule. Password Setting Functionality is available under PERSONAL ADMINISTRATION
Modules. User can reset his password by providing the new password in Change
Password text box and Re-type the new password test box. Then click at Submit Button.
Genisys Agent Business Portal:

A. Enrolment: Requirement:- B . Web Cd Code
1. Valid effective Agency Licence 1. Genisys
2. 9 digit web cash deposit a/c 2. Accounts
(Floor limit Rs.1000/-) 3. Cd Master Maintenance
3. Correct email id & Mobile number in the 4. Check In Web Policy Issue
portal 5. Check In Agent Portal Web Cd
C. Before Registration Ensure D. Registration

• License No. niconline.co.in > Agent Portal Or
• E-Mail Id • niconline.co.in/agent/html/app1/home.
• Mobile No. html
• Date Of Birth • New User Registration and Register.
• Pan No.
• Of the Agent Is updated & Accurate In
NAP & Has To Match With The Record
In Agents Master Maintenance Under Oo
Genisys>Accounts Menu.
E. After Submission System Auto-fetches F. Request send to Regional Agency Co-
the following details:- ordinator (RAC).
• Agent Code RAC to approve request after verification by
• Office Code following the below process:-
• DO Code 1. niconline.co.in/agent/html/app1/home.
• Name of Agent html
• Address 2. Log In with RO Code as User Id & with the
• Email-Id [Can also be updated here] Password provided.
• Contact No [Can also be updated here] 3. Click On Agent Pending For Approval
• Web CD No. 4. Verify Requests & Check In at the
• Check the above snippets and submit. Approval Box
• System Prompts – Registration Process Click On Approve.
is successful. 5. User Id & Password will be intimated to
Agent via E-mail & SMS.
6. Change your Password at First Log-In
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G. Inside Agents Business Portal - Genisys H. Click on Policy Transaction for
Log In Underwriting, Issuing & Renewing
niconline.co.in/agent/html/app1/home.html Policies
• Policy Transaction
Modules Provided 1. Underwriting Policy
Common Functionalities 2. CD Balance Report
Accounting Activities 3. Policy Renewal
Policy Transaction
Personal Administration
Feedback
I. To View Premium Register, Generate/ J. Under Accounting Activities
Re-print Policy Schedule 1. View Status of Proposals
• Common Functionalities 2. Collect Premium
1. Policy Schedule Generation-Original / 3. Intimate Refund of Proposals
Duplicate
2. Premium Register
• Manage your ABP Account, Passwords &
Security Checks
• Personal Administration
• Post Your FeedBack
FeedBack
K. Other Snippets 1. Submit hard copies of Proposals, back
1. Rs. 25/- per policy is paid as papers to the Operating Office on Weekly
Reimbursement of Printing & Other Basis.
Stationery Cost. 2. Only policies where medical certificates
2. Generate Monthly MIS or View Premium are not required are to be underwritten.
Register With the existing guidelines on grace
3. Common Functionalities period.
4. Premium Register 3. Registration No. Of Vehicle is mandatory
5. Export to Excel, Print the same and get the in case vehicle age is more than 1 year.
Printing & Stationery Cost Reimbursed. 4. SMS- intimation to customers & agents
6. Agents can allow discounts upto 50% on after Policy Issuance.
Motor Policies 5. Contact Info of Agent is captured in Policy
7. Payment Net Banking /Credit & Debit Schedule.
card. Future Possibilities & Prospects
8. No Endorsement Facility. - Options for Payment through
- Cheques etc. are currently are being
checked.
- NCB options on Declaration Basis
- Virtual Assistance on portal
VI) Advantages Of Using Agents’ Business Portal:

A) To reduce time and distance  Quick customer service is in the palm of the Agents if
they use the portal
B) Faster than EASI i.e, even if EASI is slow, Agent portal is faster
C) Even if credit card/debit card are used, insured can get the income tax certificate under
sec. 80D with respect to health policies where this certificate is applicable
D) Policies can be booked even on Saturday (On Sunday the portal will not work due to
data updation in the server). The portal can be used from 8 am to 11 pm.
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E) The insured will get the facsimile signed e-policy & receipt
F) While creating the customer id, since the mobile number is mandatory, in addition
to that if the agent gives both the mobile number and email id, immediately after
generation of the policy soft copy will be sent to the customer’s email id
G) Renewal date and other information will be sent to insured’s mobile id
H) In case of hospitalisation, during office holidays, if the customer is in emergency and
the TPA is in need of previous year policies, the agent can generate the same in the
portal and can forward to the TPA to avoid delay in processing cashless option
Absorbed Agents:- Agents who have been agents prior to July, 2000 are called Absorbed
Agents. They are pre-IRDAI agents. These Agents may have life or non-life agency. If an
absorbed agent want to take Non-Life Agency now, they need not undergo agency exam and
their appointment is direct.
Aadhar Number Of The Insured: This refers to the IRDA Guidelines and Regulations on
e-Commerce, e-Insurance and e-KYC, which requires Aadhaar number as a basic component
of KYC. So in all proposal forms, please provide Aadhaar number of the insured
Anti-Money Laundering And Know Your Customer Guidelines

The legislation of Prevention of Money Laundering Act was enabled by the government in
2002
Anti Money Laundering (AML) guidelines were issued by IRDAI to determine true identity of
customers requesting for insurance services. Money Laundering is the process by which
criminals transfer funds to conceal the true origin and ownership of the proceeds of crime
activities. Criminals obtain funds through their illegal activities but seek to pass it on as legal
money by a process called money laundering. Criminals attempt to use financial services
including banks and insurance to launder their money.
According to Know Your Customer guidelines (KYC), every customer needs to be identified
by collection of following documents.
a) Address verification
b) Recent photograph
c) Purpose of insurance contract and financial status
Agent is therefore required to collect following documents at the time of bringing in business
–
In case of individuals – Full Name, address, contact nos. of insured with ID & address proof,
PAN no & full bank details , GSTIN No (if any)
In case of corporate – collect certificate of incorporation, Memorandum & Articles of

Association, PAN card, GSTIN No. and Power of Attorney copy
In case of Partnership firms/Trusts – collect Registration Certificate, , GSTIN No in addition

to above
Bancassurance Servicing:- If interested, an Agent can also be mapped for a bank which is
under tie up with NIC. The role of the Agent is to visit bank regularly and to get remuneration
based on the business procured.
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Scheme for Reimbursement of Out-of-Pocket Expenses to the Agents for Servicing
Corporate Agents (Banks)
Scheme A Scheme B
Applicable for New Delhi (including NCR), All cities / places / locations other than as
Mumbai, Chennai, Kolkata, Bangalore & detailed in Scheme A
Hyderabad
Business Slab Reimbursement Business Slab Reimbursement
Amount in Rs. Amount in Rs.
Less than Rs. 25,000/- NIL Less than Rs. 10,000/- NIL
Rs.10,000/- to Less 750
than Rs. 25,000/-
Rs.25,000/- to less than 1000 Rs.25,000/- to less than 1000
Rs.50,000/- Rs.50,000/-
Rs.50,000/- to less than 2000 Rs.50,000/- to less than 2000

Rs.1,00,000/- Rs.1,00,000/-
Rs.1,00,000/- to less 4000 Rs.1,00,000/- to less 4000

than Rs.2,00,000/- than Rs.2,00,000/-

than Rs.3,00,000/- than Rs.3,00,000/-

than Rs.4,00,000/- than Rs.4,00,000/-

than Rs.5,00,000/- than Rs.5,00,000/-

than Rs.6,00,000/- than Rs.6,00,000/-

than Rs.7,00,000/- than Rs.7,00,000/-
Business Target For Agents (Preferable)

• The new business growth expected to achieve is 30%,
• The renewal rate is 90%, and the Company desires to have an average business
growth of 20% for every financial year. Accordingly the income will grow.
Customer Portal:- NIC has a Customer Portal. The customer can take new policies and
can renew their existing policies online. 5% discount in the premium is given to them. For
all renewal done by customers online, the Agent will get credit and usual commission. So
educating your customer about online facility will reduce your workload.
Contact details- In case of any query relating to online policies client may contact through:
Toll Free Helpline : 1800-200-7710 Email Id : portal.support@nic.co.in
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Claim Servicing:
Claim servicing is an important after sales service by an Agent.
Timely intimation of accident, guiding and assisting customers (insureds) is prime
importance in insurance business.
Agent should learn to become an effective link between the Office and the customer once
any claim is reported. This is possible only if the documents required by office /TPA in
processing any claim is known to the Agent. The agent can track a Health claim status by
registering with TPAs.
Commission (Agency Commission):

Revised Commission Rates from 1st Apr 2017
Dept Dept Name PRODUCT Product Name Ind. Agents
Code CODE
11 Fire SFSP Standard Fire & Special Customer Type
Perils = Individual if
11 Fire SFSS Standard fire & special SI<=2500Cr - 15%;
perils (stocks only) SI>2500Cr - 5%
All others:
if SI<=2500 Cr - 10%;
SI>2500Cr - 5%
11 Fire FLOP Standard Fire Loss of
Profits SI < 2500 Cr - 10%;
11 Fire IAR Industrial All Risks SI >2500 Cr. - 5%
21 Marine Cargo Marine cargo 15%
22 Marine Hull Marine Hull 10%
31 Motor Motor Own damage 17.5%

2 wheeler
31 Motor Motor Own damage 15%
other than
2 wheeler
31 Motor Motor Third Party 2.5% (for all standalone
TP and from 4th
year of Registration
for comprehensive
insurance)
41 Workmen EC Employees if Customer
Comp Compensation Insurance Type=Individual: 15%
41 Workmen WC Employees Customer=Corporate:
Comp Compensation Insurance 10%
42 Personal GPA Group Personal Accident Employer-Employee:
Accident 7.50%
Others : 7.50% (Default)
Max.15%
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42 Personal PBBY Pravasi Bharatiya Bima
15.00%
Accident Yojana
42 Personal GPASC Group Personal Accident
15.00%
Accident for School Children
42 Personal JPA Janata Personal Individual: 15%
Accident Accident Employer-Employee:
7.50%
Max.15%
42 Personal PA Personal Accident
15.00%
Accident
42 Personal NMJPA Micro Janata Personal
15.00%
Accident Accident Policy
44 Engineering If Customer
Type=Individual :
SI <2500 Cr : 15%;
SI > 2500 Cr 5%;
Customer
Type=Corporate
SI < 2500 Cr 10%;
SI >2500 Cr. 5%
47 Rural All policies under Rural insurance 15%
insurance (Dept. code 47) No Commission for
Scheme animals under
Cattle & Sheep policies
49 Liability PI Professional Indemnity Medical Est. 10%;
For others:if Customer
type=Individual 15%;
Customer
Type=Corporate 10%;
Others 15%
49 Public Liability Liability
10.00%
Liability
50 Health GMC Group Mediclaim Employer-Employee:
7.50%
Max.15%
50 Health GMCT GroupMediclaim- Employer-Employee:
Tailormade 7.50%
Max.15%
50 Health MC National Mediclaim Age <=60 : 15%; Age
Policy >=61 : 10%
50 Health NMPP National Mediclaim Plus Age <=60 : 15%; Age
Policy >=61 : 10%
50 Health NPM National Parivar Age <=60 : 15%; Age
Mediclaim >=61 : 10%
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50 Health PM Parivar Mediclaim Age <=60 : 15%; Age
>=61 : 10%
50 Health VARM Varistha Mediclaim 10.00%
50 Health VIDM Vidyarthi Mediclaim 15.00%
50 Health CI Critical Illness 15.00%
50 Health OMPES Overseas Mediclaim
15.00%
Insurance - E & S
50 Health OMPBH Overseas Business &
15.00%
Holiday
50 Health STUDAW Students' Accident
15.00%
Welfare Policy
59 Other Misc. HHI Householders Insurance
59 Other Misc. HOME Home Loan Suraksha if Customer type =
LOAN Bima Individual 15%;
59 Other Misc. HOTEL Hotel/Motel Restaurants Customer Type =
Package Policy Corporate 10%
59 Other Misc. SKI Shopkeepers Insurance
59 Other Misc. TA Traffic Accident Individual: 15%
Group: 7.50%
59 Other Misc. SCY Special Contingency
59 Other Misc. BBI Bankers Indemnity
59 Other Misc. MPO Cellular & Mobile Phone
10.00%
Network Operators
Insurance
59 Other Misc. SECINS Security Insurance
59 Other Misc. NMRRMK Micro Rajrajeswari
15.00%
Mahila Kalyan Bima
Forms: Agents may get proposal forms, Claim forms, pamphlets in soft and hard copies
which is readily available with all our offices.
Incentive Schemes for Agents:

Various Incentive Schemes are available for agents. Therefore, Agents are requested to refer
the latest circulars on incentives
Income More Than 10 Lacs Per Month: There are young and energetic agents whose
commission and incentive together is more than 10 lacs per month. There are huge potential
to grow.
ICR (Incurred Claim Ratio):- If an agent Brings premium of Rs.100/- and if the claim outgo
is Rs.70/- it is ok. If it is less, it is good. But if it is more, it is called adverse ICR.
Important Websites for Agents
www.nationalinsuranceindia.com - For Agent Business Portal log in, Customer Portal,
Product Knowledge, Grievance, NIC offices across the country
www.irdai.gov.in various intermediaries, circulars etc.,
www.irdaonline.org IC 38 Book for Agents (A resource book for all agents. It is compulsory
for new agency exam)
- 361 -
www.insuranceinstituteofindia.com useful for insurance studies, acquiring insurance
diploma etc.,
www.iib.gov.in Useful for various insurance activities, circulars etc.,
www.gbic.co.in case studies of disputes on insurance
Insurance For Agents - Complimentary (Free) Cover:-
Scheme For Covering NICL Agents Under Critical Illness & Personal Accident:
Personal
Accident S.I.
Sl. Amount for
Premium in the FY 2016-17 for Death &
No. Critical Illness
Permanent
Disability
1 Above Rs.50000 and Upto Rs. 2 Lac NIL 100000
2 Above Rs. 2 lac and upto Rs. 5 lac 100000 150000
4 Above Rs. 10 lac and upto Rs.20 lac 200000 250000
8 Above Rs. 75 lac and upto Rs. 1 Cr. 400000 450000
9 Above Rs. 1 Cr. Every increase in premium of Rs. 50 Lacs, amount for Critical and
personal accident shall be increased by Rs. 50000/- each subject to maximum of
Rs. 25 lacs each.
This Scheme is effective from 15th September, 2017.
Conditions :-
1. The above mentioned amount and or Sum Insured will be made available to the Agent
(self) only.
2. The above limits of critical illness and Personal Accident are based on the Premium
Completed in FY-16-17. However, agents who have completed a minimum 25% of FY
16-17 premium upto the month of July 17-18 shall be eligible for this Scheme for FY-
2017-18. These criteria apply for the current FY only and next year onwards scheme
shall continue on yearly basis, based on the premium completed in the previous
Financial Year.
3. All existing agents as on 31.03.2017 not falling under the eligibility criteria mentioned
in the above table and new agents appointed on or after 1st April, 2017 shall also
be eligible with a PA Policy cover of Rs.1,00,000/- provided they have procured a
minimum premium of Rs.25,000/- up to the month of July 17-18.
4. Definitions, coverage, conditions and exclusions for the Critical Illness will be as per
Annexure I
5. NICL reserves the right to withdraw/modify this scheme any time without assigning
any reason.
6. This is a complimentary scheme and not a contract and cannot be claimed as a
matter of right by agents. All disputes shall be addressed & settled by and at the sole
discretion of the company.
NIC Advantage: NIC offers competitive health insurance rates, motor premium rates. The
support system to stay competitive in the market is excellent with NIC.
- 362 -
Placing Business In more than one office is allowed. The agent can choose his office as
per his convenience.
Product Feed Back: Agents can take part in Product Development by actively giving feed
back of our products and our competitors.
Star Agents and Club Membership. (Scheme operative from 2017-18)

An Agent can become a Star Agent and be in the club of CMD, GM DGM, DM and BM. The
eligibility is based on the annual performance of the agent in terms of premium and growth
based on which they will be grouped as follows.
Eligibility criteria (city wise /Metro/A class & others) is as per the Table given below:
Parameters CMD GM
RO INCHARGE CLUB DO IN CHARGE CLUB BO IN CHARGE CLUB
Amt in Lacs CLUB CLUB
Metro A Others Metro A Others Metro A Others
Minimum
350 200 125 100 75 75 50 25 50 40 20
Premium
Requisite For All Membership of all clubs
Growth %
20 If ICR is between 70 and 80 percent
15 If ICR is between 50 and 70 percent
10 If ICR is not above 50%
1. Chairman’s Club Star Agent
a. Designated as Platinum Chief Insurance Advisor
b. Memento worth Rs. 3000 /-
c. Expenses upto Rs. 12000/- for attending the function and if eligible with spouse (Top
10%), Rs. 20000/-
d. Top 3 eligible for domestic vacation with family for Rs. 50000/-
2. General Manager’s Club Star Agent
a. Designated as Gold Chief Insurance Advisor
b. Memento worth Rs. 2500/-
c. Expenses upto Rs. 10000/- for attending the function and if eligible with spouse (Top
10%), Rs. 18000/-
d. Top 3 eligible for domestic vacation with family for Rs. 25000/-
3. Regional In Charges Club Star Agent
a. Designated as Silver Insurance Advisor
b. Memento worth Rs. 1500/-
The DM’s Club and BM’s Club Star Agents will be designated as Chief Insurance Advisor
and Insurance Advisor respectively and will be eligible for mementos worth Rs. 750/- and
Rs. 500/- respectively
The above schemes are subject to change. The agent may contact the BO/DO for the latest
prevalent scheme.
Training Centres
National Insurance has Agents Training Centres all over the country to impart practical and
need based training to all the agents.
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NEW DISTRIBUTION CHANNELS
The general insurance industry in India has been growing at a healthy growth rate over the
last two decades. However, both the insurance penetration and insurance density especially
of General insurance is amongst the lowest globally.
Insurance Penetration is the Insurance premium expressed as a percentage of GDP of the

country (ratio of premium to GDP).
Insurance Density is the ratio of premium to population (GDPI/Population ie per capita

premium)
Penetration of general insurance industry in terms of the coverage of the insurable public is
still low.
Over the last few years IRDAI has brought in Regulations facilitating new distribution channels
thus helping to expand the General Insurance market.
CSCs – Common Services Centres

Common Services Centers (CSCs) are a strategic cornerstone of the Digital India
programme. They are the access points for delivery of various electronic services to villages
in India. CSC scheme envisages a three-tier structure in which the end-point of Service
delivery is VLE (Village Level Entrepreneur), also called the Rural Authorised Person: the
CSC operatorGeneral Insurance is one of the services made available in a B2C (Business to
Customer) model. CSCs are now included in the definition of insurance intermediary.
• CSC Products The product to be marketed through the CSC Distribution Model shall be
prefixed with the word “CSC” to clearly distinguish these products as ‘Exclusive CSC
Products’.
• Rural Authorised Persons (RAP) is an individual Village Level Entrepreneur (VLE)
Registered and Authorised by CSC-SPV to operate and manage a Common Service
Centre; VLE becomes RAP when approved by the IRDA upon successful completion of
specified training and examination.
• RAP is authorized to sell the designated CSC insurance products .
• Under the agreement with CSC-SPV our specified and approved products would be
made available through CSC portal.
• Selling is online by the RAPs through the portal and there is no direct intervention of our
Operating Office.
• Remuneration to the RAP (on a per document basis) / Customer Service charges to
be mutually agreed with CSC-SPV (Special Purpose Vehicle, to mean a separate legal
entity).
• CSC Products The product to be marketed through the CSC Distribution Model shall be
prefixed with the word “CSC” to clearly distinguish these products as ‘Exclusive CSC
Products’.
• NIC has entered into an agreement with CSC-SPV. Our specified and approved products
would be made available through CSC portal
• Selling is online and no direct intervention of our Operating Office.
LIST OF CSC PRODUCTS APPROVED BY IRDAI FOR NIC

• CSC Motor Liability only Policy
- 364 -
• CSC Fire and Allied Perils Dwellings Insurance Policy
• CSC Personal Accident Insurance (individual) Policy
• CSC Kisan Agricultural Pumpset Policy
• CSC Cattle Insurance Policy
• CSC Sheep and Goat Insurance Policy
• CSC Camel Insurance Policy
• CSC Pig Insurance Policy
• CSC Horse (other than bloodstock) Insurance Policy
At Present NIC has only ‘Motor Liability Only’ Policy that is integrated and available on
CSC portal. Shortly others would also be made available.
W.e.f July 2016 the following categories of products also have been allowed by IRDA to be
sold by all General Insurers through CSC:
• Travel Insurance
• Home Insurance
• Crop Insurance Govt schemes e.g. PMFBY, Weather Based Crop insurance Scheme
(WBCIS), coconut Palm Insurance Scheme without any limits on SI
• Government Schemes e.g. PMSBY without any limit.
Mapping of RAPs with Offices :

• RAPs are mapped with nearest NIC Office
• Mapped Office becomes the Policy issuing Office and
• Related services have to be provided by the mapped office.
• Operating Offices have to make attempts to encourage VLEs to become RAPs and
also continuously interact with RAPS so that NIC is the preferred insurer when selling
General insurance products.
• Any brochures, pamphlets etc should preferably be in Hindi and/or local vernacular
language.
Insurance Web Aggregators
Who is an Insurance Web Aggregator?
Classified as insurance intermediaries, web aggregators are portals that help a customer
to compare and buy insurance products online. They improve the purchase experience by
either directing the customer to the insurer’s website or helping her/him through the sale
process.
Governed by IRDAI (Insurance Web Aggregators) Regulations, 2017.

Main activities performed by Web Aggregators :
1. Display of Product comparisons on their website
The primary role of these portals is to enable comparison. Web Aggregators compile
and provide information on insurance policies of various companies on their website.
They provide a listing of products and showcase comparison on parameters such as:
eligibility criteria, sum insured and premiums. As per the rules, web aggregators need
to display product pricing that is inclusive of all taxes.
2. Transmission of leads to the insurers
3. Sale of insurance online
4. Sale of insurance by tele-marketing activities and distance marketing activities for
solicitation of insurance business based on the leads generated from its designated
website.
- 365 -
IRDAI has mandated Web Aggregators to provide unbiased information of insurance products
on different types of policies on their portals. They are not permitted to display ratings,
rankings, endorsements or ‘bestselling’ insurance products. They are also to refrain from
commenting on insurers or their products at any location in their websites.
As per the new Regulations, the limit of premium to solicit business has been increased
from Rs 50,000 to Rs 1.5 lakh.
Remuneration:
IRDAI has included Web Aggregators under the purview of insurance intermediaries and
allowed insurance commission to remunerate web aggregators at par with other insurance
intermediaries. Web Aggregators are entitled to renewal commissions also for general
insurance products.
• No charges shall be paid for transmission of leads by the insurance web aggregator to
the insurer
• Commission will be paid on policies where leads are converted into sale.
• A flat fee of Rs 50,000 per year towards each product displayed by the Web Aggregator
in the comparison charts of its website subject to an overall ceiling as specified in the IRDAI
Regulations of 2016 for payment of Commission or Remuneration or Reward.
Filing of Products: Subject to actuarial certification of commission being within limits

approved by IRDAI all existing filed products can be sold through Web Aggregators .
Outsourcing of Insurance services :

Insurance Web Aggregators can undertake outsourcing functions to provide ‘Insurance
services’ in respect of policies procured through them. Insurers may pay reasonable service
charges at mutually agreed rates fixed in the service agreements with the Web Aggregators.
INSURANCE MARKETING FIRM (IMF)
What can it sell?

An insurance marketing firm is an entity registered with the IRDAI, which works like a market
place for financial products and can also sell insurance products.
It can sell products of two life, two non-life and two health insurers. The firm can also sell
other financial products such as mutual funds, National Pension System (NPS), banking and
financial products of banks and non-banking financial companies .
In respect of general insurance, the IMF is allowed to solicit or procure only retail lines of
insurance products as given in the file & use guidelines namely motor, health, personal
accident, householders, shopkeepers and such other insurance products approved by the
Authority from time to time.
How does it work?

Within the Insurance Marketing Firm, there are two kinds of licenced individuals:
ISP (Insurance salesperson) who is responsible for soliciting the insurance business; and
FSE (Financial Service Executive ) who handles distribution of other financial products.
The ISP shall possess the minimum qualification of:

a. Pass in 12th Class or equivalent examination from a recognized Board/Institution.
b. Should have undergone the Insurance Marketing Firm Training prescribed by the
- 366 -
Authority and qualified in the Insurance Marketing Firm Examination from an institution
recognized by the Authority
c. Should be domiciled in the area of Registration of IMF.
An ISP in an Insurance Marketing Firm should possess a valid certificate issued by
the Authority for ISP.
Insurance Marketing Firms can service insurance across the country.
Remuneration shall be paid directly to the IMF.

While these firms are allowed to receive fees or charges from life insurers for recruitment,
training and mentoring the ISPs, this is not allowed for non-life or health insurance business.
Insurance Service activities :

The IMF shall also be entitled to receive reasonable fees for undertaking insurance service
activities as mentioned below as may be mutually agreed between the IMF and the Insurance
Company . The agreement entered at the outset will clearly set out the basis of fees payable.
These servicing activities shall be only for those insurance companies with whom they have
an agreement for soliciting or procuring insurance products and are enumerated below:
a. undertaking back office activities of insurers as allowed in the Guidelines on Outsourcing
Activities by Insurance Companies issued by the Authority;
b. becoming approved person of Insurance Repositories;
c. undertaking survey and loss assessment work by employing on their rolls licensed
surveyor & loss assessors;
d. any other insurance related activity permitted by the Authority from time to time.
Every ISP employed by the Insurance Marketing Firm shall be paid a fixed monthly
salary, which is not lower than Rs. 5,000 per month or such other sum as may be
specified by the Authority from time to time. In addition he can be paid incentives for
procuring business.
POINT OF SALE PERSONS (POS)
Mandate of a point of sale person
Point of sales persons can be engaged either directly by Insurers or by intermediaries

such as Corporate Agents and insurance Brokers. The minimum educational qualification
of such persons is Class 10 and they should be minimum 18 years of age.
IRDAI has allowed these individuals to sell only basic insurance products, which don’t require
a lot of underwriting. Products such as Motor insurance, Travel insurance and Personal
Accident insurance require very little underwriting as they are based on information provided
by the prospect. Also, such insurance policies are automatically generated by the system.
In-house Training
To ensure faster certification of POS persons, the certification programme has been relaxed
by allowing the insurers or intermediaries hiring them to train and examine these individuals in-
house. They have to conduct an in-house training of 15 hours and an examination thereafter.
The insurer or the intermediary will then issue a certificate and maintain the records for at
least 5 years. IRDAI has, however, prescribed a model syllabus for training purposes.
- 367 -
MOTOR INSURANCE SERVICE PROVIDER (MISP)
Motor Insurance Service Provider (MISP) means an automobile dealer appointed by the
insurer or the insurance intermediary to distribute and/ or service motor insurance policies
of automotive vehicles sold through it.
MISP and Servicing of Insurance Business:

Insurance activities arising post sale of motor insurance policies and includes:
• Policy service delivery such as generation of policy, receiving instructions from
customers with respect to amendment, endorsement, modification, renewal,
cancellation, and extension of motor insurance policies.
• Claim service delivery such as guiding and assisting the policyholder on insurance
claims documentation.
• any other service that may be specifically permitted by the Authority
Appointment of MISP
Sponsoring entity (ies): The MISP shall be sponsored by either Insurer(s) or an Insurance
Intermediary. Appointment can be done by sponsoring entity if eligibility conditions are met.
An MISP may work for one or more insurers either directly or through the insurance
intermediaries, if it so desires.
Distribution Fees:
a. In case the MISP is sponsored directly by the Insurer then it shall receive distribution
fees directly.
b. In case the MISP is sponsored by the Insurance intermediary then it shall receive
distribution fees through insurance intermediary only.
c. The maximum distribution fees payable to MISP shall be as follows:
Max. Distribution Fees payable Max. Remuneration &
to MISP Reward payable to insurance
intermediary by insurer*
2 wheeler automotive 22.5% of the OD portion of the 22.5% of the OD portion of the
vehicle automotive vehicle automotive vehicle
Other than 2 wheeler 19.5% of the OD portion of the 19.5% of the OD portion of the
automotive vehicle automotive vehicle automotive vehicle
*- the insurer shall not pay both the remuneration & reward and distribution fees on
the same motor insurance policy
- 368 -
Annexure III A
Acceptance Limits for Fire Risks on Sum Insured Basis (in Crs.)
Sl. Branch Divisional Regional Head
Risks BCs Remarks
No Office Office Office Office
1A Dwelling only 5 25 100 500 Beyond
500
Risks Covered under Fire and
Special Peril Policy( Non
Listed) including Declaration, 25
5 (MD
1B Floater and Floater (MD Beyond
only) 100 500
Declaration only) 500
(MD+BI) (MD+BI)
Policies.( Material Damage + (MD+BI)
Business Interruption)
2 Fire Listed Risks Nil Nil
(MD+BI)
Industrial All Risks Beyond
3 Nil Nil Nil 50 to 500
(MD + BI) 500
Subject to
Cotton Ginning and Pressing Beyond
4 Nil 1 100 500 compliance with
Factories and Raw Kapas 500
HO uw guidelines
5 Cold Storage Risk Nil 5 100 500 Beyond
500
Timber and Logs in open in Beyond
6 Nil 1 100 500
various Depots. 500
Petro Chemical Risks Beyond
7 Nil 5 100 500
(MD+BI) 500
Nuclear Power Station /
8 Nil Nil Nil Nil All to HO
Atomic Energy Centres
Subject to
compliance
9 Jute Mills/Factories Nil Nil Nil All - with HO uw
guidelines
Subject to
Plastic Goods manufacturing Beyond compliance
10 Nil Nil Nil 500 with HO uw
units (MD+BI) 500
guidelines
Textile (Risk Code/ Rate Nil Nil Nil Nil
11 Code: 189-08/07; 202/06; All to HO
089/07; 053/05; 207/05
NOTE 1: The above acceptance limits may be applied in consultation with underwriting
guidelines. Any risk where special consideration is required reference may be made to the
higher office with required underwriting details.
NOTE 2: All Proposals which are within the authority of HO will be referred to HO even in
case of renewals.
NOTE 3: All fire proposals irrespective of sum insured in respect of the following risks
(MD+BI) will be referred to HO for approval of rates/terms-:
- 369 -
d. Hydro power plants
e. Stock of coal in open at port premises
f. All proposals where the final fire rate to be quoted is less than Rs0.10per mille.
g. All cases where the ICR of the risk for the last three years (including the expiring policy
year) is more than 70%
Annexure III B Acceptance Limits for Engineering Risks on Sum Insured Basis (in Crs.)
Sl. Divisional
Business Branch Regional
No Risks Office / Head Office Remarks
Centre Office Office
B C Hubs
1 Project Insurances Nil 20 100 500 Beyond RO
(SCE/MCE/CAR/EAR) Limit
2 Machinery Insurance Other than Nil 5 15 Single Beyond RO
Cold Storages Machine Limit
< 25
3 MI related to Cold Storages with Nil 2 10 Above 10 NA Subject to
out DOS Cover compliance
with
existing
guidelines
4 Electronic Equipment Insurance Subject to
(A) Medical Equipments Nil 1 5 25 Beyond RO mandatory
Limit pre
(B) Others Nil 5 10 100 Beyond RO acceptance
Limit inspection.
5 Contractors Plant & Machinery Nil 5 20 100 Beyond RO
Insurance Limit
6 DOS ( Potato ) Insurance Nil Nil 5 ALL - Subject to
mandatory
pre
acceptance
inspection.
7 DOS Insurance (Other than Nil Nil Nil ALL -
Potato)
8 Boiler & Pressure Plant Insurance Nil 5 10 100 Beyond RO
(Single unit Limit
< 25)
9 MLOP & BLOP Insurance Nil Nil Nil Nil ALL
10 ALOP / BI Nil Nil Nil Nil ALL
11 CECR Nil Nil Nil Nil ALL
12 Specialized risks viz. works Nil Nil Nil 500 Beyond RO RO can
in water,dams,canals,tunnels, Limit grant
irrigation systems,caverns etc discount
of 50% on
applicable
tariff rates
only with
standard
deductibles.
Note 1: All Engineering proposals irrespective of sum insured in respect of the following
risks (MD+BI) will be referred to HO for approval of rates/terms-:
- 370 -
a. All CAR/EAR proposals for Hydel power plants irrespective of sum insured.
b. All proposals where the final fire rate to be quoted is less than Rs0.10per mille require
the approval from the moderator of the company.
- 371 -
Annexure III C
Acceptance Limits for Marine Cargo on Sum Insured Basis (in Crs.)
Divisional
Sl. Branch Regional Head
Risks Business Centre Office/BC Remarks
No Office Office Office
Hub
Headed Headed
by by other
Class-I than
Officers Class-I
Officers
1 All Marine Policies 1 0.1 2 10 75 Beyond

(Inland/ Export/ Import) RO
Single carrying limit/ per Limit
bottom limit (Other than
those specified below)
2 Duty Policies / 0.75 0.05 1.5 7.5 75 Beyond
Increased value Policies RO
(The combined sum Limit
insured under the cargo
and duty policy should not
exceed the limits under 1)
3 Tea Crop Policy 0.5 0.01 1 5 75 Beyond
RO
Limit
4 Despatches by sailing Nil Nil 0.5 2 5 Beyond
Vessels RO
Limit
5 Personal effects and 0.025 0.005 0.05 0.1 75
household goods against
wider than basic cover
6 Despatches by Post / 0.05 0.005 0.05 10 75 Beyond
Courier Service RO
Limit
7 Undesirable risks as listed Nil Nil Nil Basic Basic Actual Subject to
by HO except transit of cover - 1 cover Guideline
cement by rail and items - 25 s in force
under 9 below All Risk
- 15
- 372 -
Annexure III C (contd.) Acceptance Limits for Marine Cargo on Sum Insured Basis
(in Crs.)
Business Centre Branch Divisional Regional Head
Sl. Office Office/BC Office Office Remarks
Risks Hub
No
Headed
H e a d e d by other
by Class-I t h a n
Class-I
Officers
Officers
Rejection Risks
8 insurance Nil Nil Nil Nil Nil Actual
Cashewnuts, Timber Subject to
9 logs, chickpeas, Nil Nil Nil Nil 5 Actual Guideline s in
lentils & other pulses force
Basic
cover
Second-hand - 20
10 Nil Nil Nil Nil Actual
machinery * All Risk
- 10
Bullion / Specie,
11 Jewellery, Diamond, Nil Nil Nil 2 25 Actual
Precious stones
Basic Subject to
Cement in transit by Basic cover Guideline s in
12 Nil Nil Nil -
rail cover - 2 - 10 force
Subject to
13 SDP Nil Nil Nil 2 75 Actual Guideline s in
force
Subject to
14 Multi-transit Policies Nil Nil Nil 5 25 Actual Guideline s in
force
No standalone
15 Marine DSU * * Nil Nil Nil Nil 5 Actual policy
16 Annual Turnover Nil Nil Nil Nil 25 Actual
Subject to
Sellers' Contingency Guideline s in
17 Nil Nil Nil Nil 10 Actual
Policy force
* 2nd hand machinery cover to be allowed only with pre-acceptance inspection at insured’s
cost/ ** Acceptance limit is the Sum Insured as SCL /PBL is not applicable
NOTE 1: Risk Acceptance Limits are as per office wise Single Carrying Limit / Per Bottom
Limit except item no.15
NOTE 2: All Proposals which are within the authority of HO will be referred to HO even in
case of renewals.
- 373 -
Annexure III D
Acceptance Limits for Marine Hull on Sum Insured Basis (in Lacs)
Sl. Class / Type of Branch Divisional Regional Head Office
Remarks
No. Business Office Office Office
1 Fishing Vessels Nil 100 500 Beyond RO Limit
2 Sailing Vessel Nil 100 200 Beyond RO Limit
3 Inland Vessel Nil 200 500 Beyond RO Limit
4 Builders All Risk Nil 200 500 Beyond RO Limit
5 Dredgers Nil 200 500 Beyond RO Limit
6 Jetties & Pontoons Nil 100 200 Beyond RO Limit
7 Ship Breaking Risk Nil Nil 500 Beyond RO Limit
8 Ship Repairs' Nil Nil Nil All
Liability (SRL)
9 Charters' Liability Nil Nil Nil All
( CRL)
10 Ocean going Nil Nil Nil All
Vessels
11 Port Package Nil Nil Nil All
12 Offshore Nil Nil Nil All
Construction
13 Comprehensive Nil Nil Nil All
Package Policy
(upstream energy)
14 Pipeline Package Nil Nil Nil All
15 Funeral Voyage Nil Nil Nil All
16 GA Disbursement Nil Nil Nil All
17 Time Charterer's Nil Nil Nil All
Liability
18 Beaching Nil Nil Nil All
Insurance
19 Comprehensive Nil Nil Nil All
Package Policy
20 Voyage Insurance Nil Nil Nil All
21 Salvors Liability Nil Nil Nil All
- 374 -
Annexure III E
Acceptance Limits for Miscellaneous (other than Health, PA and Travel) and Motor on
Sum Insured Basis (in Lacs)
Divisional
Sl. Insurance Business Branch Regional Head
Office/BC Remarks
No Product / Policy Centre Office Office Office
Hub
1 All Risk Insurance 5 5 20 500 All
Others
2 Aviation Nil Nil Nil Nil All
3 Baggage 5 5 20 500 All
Insurance Others
4 Bankers' Nil Nil Nil Co Operative All
Indemnity Banks only upto Others
2000 (Basic+
SI in
Premises or
SI in Transit
whichever is
more )
5 Burglary
(Business
Premises)
Cash / Jewellery 20 50 500 5000 All
and other Others
Valuabes
Stock (Total SI) 200 500 3000 15000 All
Others
Silent Risk Nil Nil Nil Nil All
6 Special
Contingency
Insurance
Mobile Electronic Nil Nil Nil 2500 All
Equipment,
Laptop,
Digital Camera
Etc.,
(Total SI)
Others Nil Nil Nil Nil All
7 Carriers' Legal Nil Nil Nil Actual -
Liability
8 Building Nil Nil Nil Nil All
Promoters
Liability
9 Couriers' Legal Nil Nil Nil Nil All
Liability
10 Directors and Nil Nil Nil 2500 All
Officers Liability Others
- 375 -
Annexure III E (contd.)
Divisional
Insurance Product / Business Branch Regional Head
Sl.No Office/BC Remarks
Policy Centre Office Office Office
Hub
500 (Fire 1000 (Fire 2500 (Fire 10000 All
Package Polices Section Section Section (Fire Others
11
(Others) SI) SI) SI) Section
SI)
12 Public Liability (Act) 50 100 1000 1500 -
All
13 Public Liability 100 200 1000 5000 Others
Product Liability
All
14 Without Recall 50 100 500 5000 Others
With Recall Nil Nil Nil Nil All
Professional
Indemnity /E&O
15 Other than Long term All
25 50 100 2500 Others
Long term Nil Nil Nil Nil All
Professional Indemnity All
16 for Brokers Nil Nil Nil 2500 Others
Third Party Insurance All
17 for Inland Water Nil Nil Nil 500 Others
Vessels
Non Standard Liability
18 including Long terms Nil Nil Nil Nil All
Policies
19 Employees All All All - -
Compensation
All
20 Home Loan Suraksha 50 100 500 1000 Others
Fidelity All
Guarantee/Collective 10 25 50 500 Others
21
Fidelity Guarantee All
5 12.5 25 500 Others
Floater
22 Glass Insurance 5 5 10 Actual -
23 Golfers' Insurance 5 5 10 Actual -
24 Horse (Blood Stock) 3 3 10 Actual -
All
25 Jewellers' Block 25 50 500 5000 Others
26 Lift Insurance Nil Nil Nil Actual -
- 376 -
Annexure III E (contd.)
Divisional
Sl. Insurance Product / Business Branch Regional Head
Office/BC Remarks
No Policy Centre Office Office Office
Hub
House Holders
27 (Other than SI for 20 25 50 Actual
Building)
28 Travelling Executives 1 1 5 Actual
29 TV/VCD/Home 1 1 2 Actual
Theatre
30 LPG Traders 10 10 100 Actual
Combined
Money Insurance
All
In Safe 25 50 500 10000
Others
31
Cash In Transit
(Single Carrying 25 50 100 2500 -
Limit)
32 Shop Keepers' 200 500 750 All -
Insurance
33 Credit Insurance Nil Nil Nil Nil All
All Standard filed

Products / Policies All
34 Nil Nil Nil 1000
not specifically Others
mentioned above
All As per HO/
Others RNTB/
35 RNTB 1 1 10 100
Cir/20116/01
Dt.11/03/2016
36 Motor 20 50 100 Unlimited
NOTE
Few Products have been specially designed for Common Service Centre (CSC) and POS
(Point of Sale) personnel, like CSC PA Policy, CSC Motor TP Policy, POS Householders ,POS
Critical Illness Policy etc. For further details, the Office may be contacted.
- 377 -
RATE FOR SHORT PERIOD INSURANCES
Policies for a period less than 12 months shall be issued at the rates set out hereunder:
A: FIRE, Fire LOP and I A R:

For a period Note Exceeding 15 days 10% of the Annual Rate
For a period Note Exceeding One Month 15% of the Annual Rate
For a period Note Exceeding Two Months 30% of the Annual Rate
For a period Note Exceeding Three Months 40% of the Annual Rate
For a period Note Exceeding Four Months 50% of the Annual Rate
For a period Note Exceeding Five Months 60% of the Annual Rate
For a period Note Exceeding Six Months 70% of the Annual Rate
For a period Note Exceeding Seven Months 75% of the Annual Rate
For a period Note Exceeding Eight Months 80% of the Annual Rate
For a period Note Exceeding Nine Months 85% of the Annual Rate
For a Period Exceeding Nine Months Full Annual Rate
B: MOTOR
Period Rate
Not Exceeding One Month 20% of the Annual Rate
Exceeding One Month but not exceeding Two Months 30% of the Annual Rate
Exceeding Two Months but not exceeding Three Months 40% of the Annual Rate
Exceeding Three Months but not exceeding Four Months 50% of the Annual Rate
Exceeding Four Months but not exceeding Five Months 60% of the Annual Rate
Exceeding Five Months but not exceeding Six Months 70% of the Annual Rate
Exceeding Six Months but not exceeding Seven Months 80% of the Annual Rate
Exceeding Seven Months but not exceeding Eight Months 90% of the Annual Rate
Exceeding Eight Months Full Annual Premium/Rate
C: All ENGINEERING SECTION POLICIES:

For a period not exceeding One Week 10% of the Annual Rate
For a period not exceeding One Month 25% of the Annual Rate
For a period not exceeding Two Months 35% of the Annual Rate
For a period not exceeding Three Months 50% of the Annual Rate
For a period not exceeding Four Months 60% of the Annual Rate
For a period not exceeding Six Months 75% of the Annual Rate
For a period not exceeding Eight Months 85% of the Annual Rate
For a period Exceeding Eight Months Full Annual Premium/Rate
- 378 -
D: Bankers Indemnity Insurance:
For a Period not Exceeding 1 month 25% of the Annual Rate
Exceeding One month but not Exceeding Two Months 37.5% of the Annual Rate
Exceeding Two month but not Exceeding Three Months 50% of the Annual Rate
Exceeding Three month but not Exceeding Four Months 62.5% of the Annual Rate
Exceeding Four month but not Exceeding Six Months 75% of the Annual Rate
Exceeding Six Months 100% of the Annual Rate
(The above Rate is only for cancellation of Policy prior to 12 months in respect of B I I)
E: Personal Accident, Mediclaim, Golfers and Auto-Dealers Policies:

Period Rate
Upto One Month 1/4 of the Annual Rate
th
Upto Three Months ½ of the Annual Rate

Upto Six Months 3/4th of the Annual Rate
Exceeding Six Months Full Rate
F: Burglary Insurances & Carriers Legal Liability Insurances:

Period not exceeding One Week 12.5% of the Annual Rate
Period not exceeding One Month 25% of the Annual Rate
Period not exceeding Two Months 37.5% of the Annual Rate
Period not exceeding Three Months 50% of the Annual Rate
Period not exceeding Four Months 62.5% of the Annual Rate
Period not exceeding Six Months 75% of the Annual Rate
Period not exceeding Eight Months 87.5% of the Annual Rate
Period exceeding Eight Months 100% of the Annual Rate
N O T E:
1. For all Miscellaneous Insurances other than PA, Mediclaim, Golfers, Auto-Dealers, CLL,
Burglary, BII and Engineering, the Short Period Rate applicable is same as prescribed
for Motor Policies.
2. For OMP, Money Insurance and Workmen Compensation Insurance, Projects Insurances
Short Period Scales are not applicable.
- 379 -
- 380 -

Agents Hand Book 2017

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TABLE OF CONTENTS

R No Topic Sub Topic Page No

I Congratulate NIC Mumbai Team for this endeavour.

With all best wishes,

My Best Wishes to all !

For their contribution in the preparation of this Book

Introduction to SFSP Policy

Sections Of The Erstwhile Fire Tariff (Still Followed):

Section I - General Rules & Regulations

Section II- Standard Fire & Special Perils Policy

Section III – Rating of simple risks Eg. Dwellings/ Shops/Offices/Hospitals/ Educational

Section IV - Rating of Industrial and Manufacturing Risks

Section V - Rating Of Stand-alone Utilities Located Outside Industrial And Manufacturing

- Storage Of Liquefied Gas

Section VIII - Add-On Covers

General Rules & Regulations (Section I)

d Policy/ies should be read together with Proposal Forms, Schedule, specification,

f It is permissible to exclude Storm, Tempest, Flood and Inundation group of perils

5. Mid-Term Cover (Except RSMD & Terrorism)

7. Rate For Short Period Insurance

8. Rules For Cancellation

A. For Cancellation of insurance policy at the option of the insured: -

9. Loading For “Kutcha” Construction

11. Escalation Clause (Not For Stock)

Increase shall not exceed more than 25% of Sum Insured.

12. Rating Of Risks In Multiple Occupancy Industrial Estate

13. Silent Risks

14. Rating Pattern Under Fire Policy

Note: Unspecified locations shall not be allowed.

d) Reduction in sum insured shall not be allowed under any circumstances.

e) Refund of premium on adjustment based on the declarations/ cancellations shall not

g) It is not permissible to issue declaration policy in respect of :-

3) Floater Declaration Policies

A) Scope Of Cover Under Standard Fire And Special Perils Policy

B) General Exclusions: As per policy

Important Note On Rating

Industrial / Manufacturing Risks (Section IV)

Base Rate Schedule-Section IV

Utilities Located Outside The Compounds Of Industrial / Manufacturing Risks (Section V)

• Detached/Segregated block(s) within a risk which are protected by automatic sprinkler

1. Base Rate Schedule-Section V

Storage Risks Located Outside The Compounds Of Industrial / Manufacturing Risks

“ADD ON” COVERS (SECTION VIII)

b) Machinery, Containers & b) 2.5 times the b) M/A value

Terrorism/ CAT Perils (STFI/ EQ) Additional Rates

1) Limit of Liability per location (MD+BI): Rs.2000 Crores

RATE PER MILLE

Ref: TPOOL/CIR/1/2017-18 dtd. 25.07.2017

Terrorism cover for fixed assets at multiple locations on floater basis:

1) Cover will be available for fire operational policies only.

Add On Covers Included Under Terrorism Pool Coverage:

Deductibles For Terrorism Risk Under Pool Arrangement Are As Under:

Industrial Incl. Utilities located outside the mfg. risk &

CLASSIFICATION OF EARTHQUAKE ZONES - DISTRICT WISE

II Gilgit, Chilas, Gilgit Wazarat, Muzaffarabad, Punch,

Losses resulting from cessation of business may be:

3. Increased Cost of Working:

Main Features Of LOP Policies

1. Material Damage Proviso:

3. Sum Insured: Annual Gross Profit*Indemnity Period (Min 12 Months)

5. Basis Of Loss Of Profits Insurance

Considerations /Details Required For FLOP Underwriting

Profit rate (Percentage for Indemnity period):

For Risks other than those Percentages of the Basis