Page 372 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

Additional warranties applicable to Tank farms
are:
No tank used for storing Class A and B products has a
storage capacity exceeding 30,000 K. Litres.

(v) Rating - The basic rate for each Petrochemical plant is
arrived at on the basis of the following factors:
(a) Properties of chemicals.
(b) Quantity of flammable materials handled.
(c) Type of process J operation.
(d) Temperature and Pressure.
(e) Material of construction.

The rating pattern involves the following steps :-
(a) Each equipment of the plant is evaluated to arrive

at the fire and explosion hazard factor. The
equipment with the highest hazard factor is identified
as the basis for further loadings (for inferior features
like absence of emergency power supply for critical
equipment, and discounts (for superior features like
fire proofing of structural steel and equipment

Sashi Publications - www.sashipublications.com 385

Copyright@ The Insurance Times. 09883398055 / 09883380339