Page 379 - Fire Insurance Ebook IC 57

The Insurance Times

deductibles in Industrial All Risks policy
(i) Material Damage Claims - Deductible shall be 5%

of the claim amount subject to minimum of Rs.5
lakhs and maximum of Rs.50 lakhs.

Business Interruption Claims - Deductible shall be
three days Gross Profit subject to minimum Rs.5
lakhs and maximum Rs. 50 lakhs.
(ii) Business Interruption Claims - Deductible shall be
three days Gross Profit subject to minimum Rs.5
lakhs and maximum Rs. 50 lakhs.

Rating - Rates for this policy are based on :
(i) The detailed Risk Assessment Report furnished by

the Engineer.
(ii) Deductible opted by the insured.
(iii) Claims Experience.

Taking the above factors into account (effective
from May1, 2000) rating will be done as under :-
(i) Fire Section Rates applicable with F.E.A. and claims

experience discount as per the A.I.F.T.
(ii) Burglary (free cover).

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