Page 373 - Fire Insurance Ebook IC 57

The Insurance Times

supports, fire protection systems etc.) to arrive
at the final rate for fire and explosion perils.

(b) The Fire and Explosion rate for each plant, after
application of all loading and discounts, should neither
be less than 65% of the basic rate nor shall it be
more than 165% of the basic rate.

(c) A loading is added to the Fire and Explosion rate to
obtain the package rate chargeable for the risks of
Riot, Strike, Malicious Terrorism Damage, Aircraft
damage & Impact damage.

(vi) Excess and voluntary clause -
(a) The insurance does not cover the first Rs.50,000/-
of each and every loss in Material Damage
insurance for all perils. The excess is applicable per
event and per Insured.
(b) Additional voluntary deductibles are available as
under:
Deductible
Rs. 2.5 lacs
Rs. 5 lacs
Rs.10 lacs

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