Page 29 - Marine Insurance IC67 EBOOK
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The Insurance Times
Marine Hull Circular
M.Hull/Cir-2/2001 We are, therefore, enclosing revised Annexures
D1, D2, D3 & Dr with the request that the existing
Date : 20th June, 2001 ones be replaced suitably.
Re: Marine Hull Insurance - New Rating -----------------------------------------------------------------------
Guidelines for Fixing Initial Rates on M-Hull/Cir-2 /2005
Ocean-going Vessels - Effective Date :
14th March, 2005
1.4.2001
Re: De-tariffing of Marine Hull Insurance
This is further to our circular no. M. Hull/Cir-I/2001
dated 27th March 2001 enclosing the captioned Insurers are hereby advised that all classes of
Guidelines at Annexcure 'A' Marine Hull Insurance stand de-tariffed in respect
of new business and renewals effective 1st April
We invite your attention towards the following 2005.
Matrices:
(i) 'Bulk Carriers' : Matrix for OTL rates As a consequence, these classes of insurance
applicable to vessels with H&M sum will come within the purview of the "File and Use"
insured upto Rs.100 crores regulations, as applicable to non-tariff products, of
the Insurance Regulatory and Development
(Annexure B5) Authority, with effect from 1st April 2005.
OTL rates in respect of Bulk Carriers not over Secretary
5 years of age and falling within different ------------------------------------------------------------------------
Tonnage (DWT) groups have inadvertently not
been incorporated in the said Matrix (please M.Cargo/Cir-1/2004
refer Annexure B5).
Date : 3rd March, 2004
Hence, we are enclosing a copy of the revised
Annexure B5 showing the said rates. The Sub.: a) Tea Tariff
existing annexure may kindly be replaced
with it. b) Guidelines for Issuance of Policies to the
Coffee, Cardamom and Rubber Estates
(ii) TUGS/Supply Vessels/Anchor handling
Tug-cum-supply vessels: Matrices for TL c) Package Policy for Exporters covered under
rates applicable to vessels with different the Duty Exemption Scheme
H&M sums insured (Annexure D1 to D4)
Insurers are hereby advised that the above
Kindly note that the rate for vessels 'over 1000 mentioned classes of business shall stand
but not over 2000' BHP relating to the age detariffed in respect of new business and renewals
group 'over 20 years', shown as 0.630% in effective 1st April 2004.
Annexure D1, should be corrected as
0.830%. Since the subsequent Matrices As a consequence, these classes of business will
(Annexures D2, D3 & D4) are correlated, the come within the purview of the "File and Use"
corresponding rates in these Matrices would regulations of the Insurance Regulatory and
also undergo change. Development Authority with effect from 1st April, 2004.
Secretary
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