Page 385 - Fire Insurance Ebook IC 57

The Insurance Times

(x) Business Interruption following fire etc. Tariff
rates less 10%.

(xi) Business Interruption following Machinery
Breakdown.

(xii)Tariff rates.

(d) Discounts Available - The following discounts are
available :

(iii) Claims Experience Discounts - After the operation
of the IAR Policy for 2 years, discounts upto 25%
are provided for. For adverse loss experience, higher
excess will be imposed at the discretion of the TAC.

(iv) Discount for Higher Deductions - The policy is
subject to specified compulsory deductibles.
However, the insured can opt for higher deductibles,
for which slabs of discount on the premium rate
have been prescribed:

Material Damage Claims:

Deductible: Discount

5% of the claim amount subject to minimum of Rs.10 lakhs. 10%

5% of the claim amount subject to minimum of Rs.15 lakhs. 15%

5% of the claim amount subject to minimum of Rs.20 lakhs. 20%

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