Page 27 - Marine Insurance IC67 EBOOK
P. 27
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20.7.87 can be granted in conjunction with applied separately on the Basic TL Rate
this cover for which the TL rate shall be loaded
by 4% l The Matrix TL rate is to be appropriately
loaded as above to include cover for P&I
l The Matrix TL rate which constitutes the H&M Risks and/or 3/4ths Collision Liability and/or
rate for the cover envisaged under item (v), is 4/4ths Collision Liability and/or GA to get the
to be loaded by 4% if cover for P&I Risks is H&M Rate. The H&M Rate shall then be
also sought. The so loaded rate will be modified as explained under Rule 3 given
modified to take into account the Rating Level hereinafter to take into account the Rating
of the fleet as explained under Rule 3 given Level of the fleet. Thereafter, the TL and OTL
hereinafter. The TL component would remain components are to be reworked in such a
unaltered and the total impact of applying the way that the TL component remains unaltered
fleet Rating Level is to be reflected on the and the total effect of the loading as above
loading component for P&I Risks which will and the effect of applying the Fleet Rating
form the OTL component of the rate. Level is reflected on the OTL component.
u ITC Hulls TL, GA, 3/4ths Collision Liability u Owners' Clauses/Liners' Negligence Clauses/
(including S. SC and S&L) 1.10.83 for which Additional perils Clauses:
the Basic TL rate will be loaded as under:
In respect of an existing fleet already enjoying
3/4ths Collision Liability - 12% additional cover in terms of either Owners'
Clauses or Liners' Negligence Clauses or
General Average - 5% Additional Perils Clauses, if similar additional
cover is sought on new attachments to the
u ITC Hulls TL, GA, 4/4ths Collision Liability fleet, the same can be granted by loading the
(including S, SC and S&L) 1.10.83 for which final OTL rate by 5%. The H&M rate shall
the Basic TL rate will be loaded as under: then be modified as explained under Rule 3
given hereinafter. Thereafter, the TL and OTL
3/rths Collision Liability - 12% components are to be reworked in such a
way that the TL component remains unaltered
Additional 1/4th Collision Liability - 4% and the total effect t of the loading or the
effect of applying the Fleet Rating Level is
General Average - 5% reflected on the OTL component.
P & I cover as per Clause No.9 of the ITC 3. Application of Fleet Rating Level:
Hulls Port Risks 20.7.87 or Clause no.10 of
the ITC Hulls Port Risk including Limited The H&M rate arrived at as above will be
Navigation 20.7.87 can be granted in modified to take into account the Rating Level
conjunction with the cover envisaged under of the fleet to which the vessel to be rated
(vi) and (vii) above for which the Basic TL rate may be attaching as under:
shall be loaded as flows:
1. When the Fleet Rating Level is 100% or less:
3/4ths Collision Liability - 12%
To apply the entire level to a new
Additional 1/4th Collision Liability - 4% attachment's H&M rate
General Average - 5% u When the Fleet Rating Level is above 100% :
O & I - 4%
The loadings, which constitute the OTL To apply only the current year's penalty/reduction
component, are not cumulative but are to be to a new attachment's H&M rate.
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