Page 125 - Fire Insurance Ebook IC 57

The Insurance Times

c. Mid-term cover - Generally it is not permissible

to grant mid-term cover for STFI & RSMTD.

However if such covers are granted mid-term, the

following provisions shall apply :

(i) Insurers must receive specific advice from the

insured accompanied by payment of additional

premium.

(ii) Cover shall commence 15 days after the receipt of

premium.

(iii) Premium rates shall be charged on short period scale

on full sum insured for the balance period.

(iv) Mid-term increase in sum-insured is allowed on pro-

rata basis.

(v) Additional rate is charged for "Kuchcha"

construction.

(vi) Risks in Multiple Occupancy Industrial Estate shall

be rated " Per Se".

(vii)Rates are provided for factories where no

manufacturing /storage activities are carried out

or factories which go silent for more then 30

days.

(viii)Claims experience discounts are provided on the

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