Page 34 - Marine Insurance IC67 EBOOK
P. 34
If the Insured wants the P.A. cover, he will be disable the person from engaging in, being
required to take cover for at least the certified occupied with or giving attention to any
number of crew members required to be on board employment or occupation of any description
at any point of time. Beyond this, he will be free whatsoever, a sum equal to fifty per cent (50%)
to decide the number of visitors for whom he would of - Rs. 25,000/- or Rs. 50,000/- or Rs. 75,000/
like to take the P.A. cover. Thus, the premium - or Rs. 1,00,000/- as the case may be.
payable will be for the total number of crew
members and visitors, at rates given above for the Note : P.A. cover can only be granted at the time
different sums insured. The Insured will be of inception of the Marine Hull Policy against
required to opt for the Sum Insured at the time of payment of full P.A. Premium amount. The
inception of the Marine Hull Policy. extension of P.A. cover shall not be granted at
any other stage of the Policy. No discount is
The conditions and benefits per person are applicable for the P.A. premium under the Policy.
reproduced below :
15. Collection of premium :
If a person in the Vessel shall sustain any bodily The premium shall be collected as under.
injury resulting solely and directly from accident
caused by outward, violent and visible means, 1) H & M Sum Insured upto Rs. 20 lakhs
then the Insurers shall be liable as under : To collect premium on 40 : 30 : 30 basis as
i. If such injury shall within six calendar months explained below :-
of its occurrence be the sole and direct cause (i) (a) The Policy document will be for a period
of the death of the person - Rs. 25,000/- or of three months only and the Premium shall be
Rs. 50.000/- or Rs. 75,000/- or Rs,1,00,000/ collected @ 40% of the Annual Premium.
- as the case may be. The amount payable (b) The Policy will be subject to automatic renewal,
under the Clause shall be paid to the legal first for a period of three months and thereafter for
heir of the deceased. a further period of six months, by way of Extension
ii. If such injury shall within six calendar months Endorsement on payment of second and third
of its occurrence be the sole and direct cause instalments each @ 30% of the Annual Premium.
of the total and irrecoverable loss of sight of Each of these two instalments will be payable before
both eyes or of the actual loss by physical the expiry of the policy/extention period.
separation of two entire hands or two entire
feet or of one entire have and one entire foot Policy issued originally for three months will
or of such loss of sight of one eye and such be subject to the following Automatic Renewal
loss of one entire hand - Rs. 25,000/- or Rs. Clause :-
50,000/- or Rs. 75,000/- or Rs. 1,00,000/- as "The Policy will be subject to Automatic Renewal,
the case may be. first for a period of three months and thereafter for
iii. If such injury shall within six calendar months a further period of six months, by way of Extension
of its occurrence be the sole and direct cause Endorsement on payment of second and third
of the total and irrecoverable loss of sight of instalments each @ 30% of the Annual Premium.
one eye or of the actual loss by physical Each of these two instalments will be payable
separation of one entire hand or one entire before the expiry of the policy/extention period".
foot-fifty per cent (50%) of - Rs. 25,000/- or
Rs.50,000/- or Rs. 75,000/- or Rs.1,00,000/- (ii) On expiry of the twelve month period, a new
as the case may be. policy will be issued charging once again 40%
iv. If such injury shall as a direct consequence of the Annual Premium for the first three
thereof immediately, totally and absolutely
PH: 033 4007 8428 / 2218 4184, Email: info@sashipublications.com 249
