Page 365 - Fire Insurance Ebook IC 57

The Insurance Times

Compulsory deductibles

a] Material Damage Claims
Deductible shall be 5% of the claim amount subject to minimum of
Rs. 5 lakhs and maximum of Rs. 50 lakhs.

b] Business Interruption Claims
Deductible shall be three days Gross Profit subject to minimum of
Rs. 5 lakhs and maximum of Rs. 50 lakhs.

Rating

Rates for this policy are based on :
a) The detailed Risk Assessment Report of the Engineer
b) Deductible opted by the Insured
c) Claims Experience

Taking the above factors into account (effective from May 1, 2000)
rating will be done as under :-
a) Fire Section Rates applicable with F.E.A. and claims experience

discount as per the A.I.F.T.
b) Burglary (free cover).
c) Machinery Breakdown, Boiler explosion and Electronic

Equipment Insurance @ 0.25%o
d) Business Interruption following fire etc. Tariff rates less 10%.
e) Business Interruption following Machinery Breakdown. Tariff

rates.

Discounts available:
i] Claims Experience Discount :

After the operation of the IAR Policy for 2 years claims experience

Website: www.bimabazaar.com Call: 033-22184184 / 40078428 378

Copyright@ The Insurance Times. 09883398055 / 09883380339