Page 384 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

Compulsory deductibles in Industrial All Risks
policy
(iii) Material Damage Claims - Deductible shall be
5% of the claim amount subject to minimum of
Rs.5 lakhs and maximum of Rs.50 lakhs.
(iv) Business Interruption Claims - Deductible shall be
three days Gross Profit subject to minimum Rs.5
lakhs and maximum Rs. 50 lakhs.

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

the Engineer.
(v) Deductible opted by the insured.
(vi) Claims Experience.

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

experience discount as per the A.I.F.T.
(viii)Burglary (free cover).
(ix) Machinery Breakdown, Boiler explosion and

Electronic Equipment Insurance @ 0.25%o.

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