underwriting authority manual - iffco tokioagentportal.iffcotokio.co.in/userfiles/final underwriting...

IFFCO-TOKIO General Insurance Co.Ltd

Underwriting Authority Manual

Rev. 0 July 2008


CONTENTS 1 GENERAL REGULATION 4

2 PROPERTY & ENGINEERING 5

2.1 FIRE

2.1.1 UNDERWRITING AUTHORITY MATRIX 6

2.1.2 SEGMENTATION 7

2.2 ENGINEERING

2.2.1 UNDERWRITING AUTHORITY MATRIX C.A.R / E.A.R 9

2.2.2 UNDERWRITING AUTHORITY MATRIX MBD / BOP /CPM 10

2.2.3 UNDERWRITNG AUTHORITY MATRIX EEI 11

2.2.4 SEGMENTATION CONTRACTOR’S ALL RISK INSURANCE 12

2.2.5 SEGMENTATION ERECTION ALL RISK INSURANCE 13

2.3 DEVIATION AUTHORITY MATRIX 16

2.4 REFUND AUTHORITY MATRIX 17

2.5 POST LOSS ENDORSEMENT AUTHORITY MATRIX 18

3 MARINE 19

3.1 MARINE CARGO


3.1.2 DEVIATION AUTHORITY 21

3.2 MARINE HULL and P&I


3.3 MARINE MTO


3.3.2 DEVIATION AUTHORITY MATRIX 24

3.4 REFUND AUTHORITY MATRIX 25

3.5 POST LOSS ENDORSEMENT AUTHORITY MATRIX 26

Rev. 0 July 2008

IFFCO-TOKIO General Insurance Co.Ltd 4 MOTOR 27

4.1 UNDERWRITING AUTHORITY 28

4.2 DEVIATION AUTHORITY 30

4.3 REFUND AUTHORITY 31

4.4 POST LOSS AUTHORITY 33

5 RETAIL LINES

5.1 HFP UNDERWRITING AND DEVIATION AUTHORITY MATRIX 36

5.2 OPE UNDERWRITING AND DEVIATION AUTHORITY MATRIX 37

5.3 TRP UNDERWRITING AND DEVIATION AUTHORITY MATRIX 38

5.4 SME UNDERWRITING AND DEVIATION AUTHORITY MATRIX 39

5.5 RETAIL LINES PRODUCTS UNDERWRITING AND DEVIATION 40 AUTHORITY MATRIX

5.6 REFUND AUTHORITY 41

Rev. 0 July 2008


GENERAL REGULATION

The authorities can be exercised by only those officers who are assigned the

functions of underwriting by the organisation.

SBU Heads/ State Heads/ Commercial & Retail Heads of Mumbai/ Delhi and

Head Mumbai Operations/ Corporate Underwriting Heads, by virtue of their

assignments, will be considered as officers assigned with the function of

Underwriting. They will carry the authority of the grade to which they belong.

The SBU heads etc. shall specifically assign the underwriting authorities to

employees under their control, consistent with the cadre of employee only,

specifying the class of business in which they can exercise their authorities.

Copy of the delegation shall be marked to respective Underwriting

Departments in Corporate Office as well as to Internal Audit Departments.

In case an Officer in any cadre applies for resignation, his authority will cease

w.e.f. the date of the submission of the resignation.

These supersede all previous circulars issued in this regard and come into

force with effect from 1st August, 2008.

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PROPERTY &

ENGINEERING

5 of 41 Rev. 0 July 2008

Occupancy / Risk Colour

Code - Green

U/W Authority

(Total Value at Risk*- INR

Cr.)

Occupancy / Risk Colour Code -

Yellow

U/W Authority (Total Value at Risk*- INR

Cr.)

Occupancy / Risk Colour Code - Red

U/W Authority (Total Value at Risk*- INR Cr.)

M10 & Above All Actuals All Actuals All Actuals NIL

M9Green:All Risk codes 500

Yellow: All except Gas processing plants, Refinery & Petrochemical, Fertilizer, Cotton Gin and Press Plants, Contractor plant and Machinery 400

Red- Only Tyre and Tube Mfg Plants, Chemical Mfg plants, Industrial Gas Mfg., Sponge Iron Plants 250

a) Policies with transmission lines as an item in the schedule,

b) Nuclear Power station,

c) All policies with Mining risk (even as an item in schedule),

d) Offshore exposures like jetties, SBM, Oil platform, Sea pipelines, Drilling rigs

e) Policies with add-on: Deterioration of stocks in cold storage, Molten metal, Spoilage Material Damge, Forest Fire

f) Contingent Business Interupption (Supplier / Customer and Utility Extensions under FLOP)

g) Risk With MCOPE risk Grade C.

h) Risks where FLOP SI is more than INR 100 Crores.

100

Hotels and Hospital: First Time / Once in three years / Incase of Material ChangeIndustrial Risk with S.I. less than 5 cr: No inspectionIndustrial Risk With S.I. between 5 to 100 cr: At the inception / Once in three years / in case of material changeIndustrial Risk With S.I. more than 100 Cr: At the inception / Once in two years / in case of material changeIndustrial Risk With S.I. more than 500 Cr: At the inception / Every year / in case of material change

M8Green : All Risk Codes 400

Yellow: All except Gas processing plants, Refinery & Petrochemical, Fertilizer, Cotton Gin and Press Plants, Contractor Plant and Machinery, Oil extraction (solvent based), 300 …..Do…… 200 100 ……Do……

M7Green:All Risk codes 300 ……Do….. 200 …..Do…… 100 100 ……Do……

M6Green:All Risk codes 150 ……Do….. 100 - No Authority- - No Authority- 100 ……Do……

M5Green:All Risk codes 75 - No Authority- - No Authority- - No Authority- - No Authority-

M4Green:All Risk codes 50 - No Authority- - No Authority- - No Authority- - No Authority- 100 ……Do……

Std. Fire and Special Perils/

FLOP/ IAR(excluding risks falling under the

purview of Petrochemical

Tariff)

NOTE 1 : Total Value at Risk is considering all policies at one location irrespective of ITGI share including MD and BI as applicable.

NOTE 2 : Risk Rating shall be strictly as per Rating Tools.

NOTE 3 : Coverage need to be strictly as per erstwhile tariffs.

a) Risk With MCOPE risk Grade B and C**

b) Short period policies for goods in open

c) State warehousing corporation,

d) Mid term Inclusion of STFI, RSMD Cover, e) Policies with transmission lines as an item in the schedule,

f) Nuclear Power station,

g) All policies with Mining risk (even as an item in schedule),

h) Offshore exposures like jetties, SBM, Oil platform, Sea pipelines, Drilling rigs

i) Policies with add-on: Deterioration of stocks in cold storage, Molten metal, Spoilage Material Damge, Forest Fire

j) Contingent Business Interupption (Supplier / Customer and Utility Extensions under FLOP)

k) Risks where FLOP SI is more than INR 100 Crores.

Risk Assessment Matrix U/W Authority Matrix for Fire/ IAR/ FLOP

RemarksSpecific Exclusions (Refer to Corporate

Office)

Risk Assessment Obligation

S.I. (INR Cr.)Risk Assessment

Frequency

Authority as per the Segments(Occupancy / Risk Colour Code)

For list of risk codes in each segments refer Segmental Occupancy list

Product / Coverage

Hierarchy Level

6 of 41 Rev. 0 July 2008

Preffered Occupancy (Green) Caution (Yellow) Extreme Caution (Red)Aerated water factories Paper Mills, Card board

Mills(Lamination)/Cardboard Box Mfg. / Gypsom board, Particle board

Foam Rubber Manufacturing

Atta & Cereal grinding, Dal Mill,Grain / seeds

disintegrating / crushing / decorticating factories

Book Binders, Envelop & Paper Bag Rubber Factories

Bakeries / biscuit factories Plastic Goods Mfg. (Excluding Foam Plastic), Cable Mfg.

Rubber Goods Mfg with Spreading, without Spreading

Breweries Rope works (Plastic) and Others Tyres and Tubes ManufacturingCoffee curing, roasting & grinding Assembling of Plastic Goods such as Toys

and the like

Foamed Plastics Manufacturing/Foam

rubber mfg. and / or converting plantsCondensed milk factories, milk pasturisings plants and dairies

Sugar Factories Tyre Retreading and Resoling factories

Ice candy & ice-cream mfg / Ice factories Gas Processing Plants / LPG Bottling

plants

Chemical Manufacturing(Using materials

with Flash Point below 32OC), Bulk Drug Manufacturing

Confectionery mfg / Sugar candy mfg./ Sweet meat mfg.

Refining and Petrochemical Plants Paint (others) & Varnish Factories

Distilleries Fertilizer Plants Paints - Nitrocellulose basedFruit products & condiment factory (including fruit pulp making)

Silk Mills/Spun Silk Mills Camphor Mfg.

Rice mills (evaluate STFI exposure well) Wind Power Plants Candle WorksSea food / meat processing Oil Extraction Celluloid Goods Mfg.Cement Factories Oil Mills Industrial Gas Mfg.Cement/ Asbestos/ Concrete Products Mfg. Ink Mfg. Nitro Cellulose Mfg.Ceramic Factories, Crockery And Stoneware Pipe Manufacturing/ Clay Works/ Tile And Pottery Work

Cotton Gin & Press House Pan Masala Mfg.

Thermal Power Plants Steel / Aluminium / Copper Smelters Textile Mills CompositeD.G. set based Power plants Coal / Coke / Charcoal Factories, Coal

washeriesSpinning Mills

Segmentation Fire Portfolio

7 of 41 Rev. 0 July 2008

Electric lamp, TV picture tube mfg Chemicals with Flash point > 32 deg C Cotton Seed Clng & DelintingElectronic goods mfg & assembly Cashewnut factories Jute MillsElectronic software parks Velvet cloth Mfg Wool Cleaning & Pressing FacEngineering workshop- structural steel fabricators, sheet metal fabricators, pipe extruding, stamping, pressing, forging mills

Standalone Cinema Theaters Press For Coir Yarn/Cotton/Senna

Engineering workshop- machines shops (excl. Plastic and rubber component mfg.), assembly of metallic components / metallic spare parts

Contractor Plant & Machinery Carpet / Drugget Mfg.

Manufacture and assembly of electrical switchgear and panels.

Fluor Mill, Ghee incl. Veg. Ghee Matress & Pillow Making

Metal/ tin printers Glass Mfg Polyester/ BOPP Film Mfg.Ore processing (refining)/ metal extraction Graphite Electrode Mfg, Industrial Gas Bitumenised Paper And / Or Hessian

Cloth Manufacturing.Automobile Manufacturing Printing Press Shops dealing in Hazardous goodsMan made fiber Stone Querries Cigar and Ciggarette Mfg.Woolen mills Resturant / Hotels Exhibition / Fate / MadapsTextile Process houses, Garment Mfg, Hosiery / lace / embroidery / thread factories, Yarn Processing

Shops dealing in Non-Hazardous Goods Hydro Power Plant

Pharmaceutical, Toiletry Mfg, Detergent Manufacturing, Soap Mfg.

Solvent Extraction

Mineral Oil Blending & Processing Saw MillsUmbrella Assembly Sponge Iron PlantVermicelli Tobacco curing and RedryingTiny sector industriesIndustrial Diamond MfgMalt extractionStarch Factories, Tapioca FactoriesTea blending / PackingTelephone ExchangeManure Blending WorksDwellings/ Residential society/ Malls/ Offices / BPOMotor vehicle showroomMultiplex incl. Cinemat Theater

8 of 41 Rev. 0 July 2008

Occupancy / Risk Colour Code-Green

U/W Authority


Cr.)Occupancy / Risk

Colour Code-Yellow


Occupancy / Risk Colour Code-Red


M10 & Above All Risk codes Acutals All Risk codes Actuals All Risk codes Actuals Nil

M9Green:All Risk codes 250

CAR:Yellow: All risks except Roads, Sewage disposal system, railway lines. EAR:Yellow: All risks except Fetiliser plants, Hydro carbon processing plants, petroleum refineries, Power Plants of all kinds, OIl.Liquid chemical. LPG pipe lines,Gas works. 200 Red:- No Authorit- No Authority-

M8Green:All Risk Codes 200 ……Do….. 150 - No Authority- - No Authority-

M7Green:All Risk Codes 150 ……Do….. 100 - No Authority- - No Authority-

M6Green:All Risk Codes 100 - No Authority- - No Authority- - No Authority- - No Authority-



NOTE 1: Risk Rating shall be strictly as per Rating Tools provided.

NOTE 2: All Proposals with ALOP cover should be referred to Co U/W .

NOTE 3: The coverage shall be strictly as per erstwhile tariffs

Contractor's All Risk/Erection

All Risk

U/W Authority Matrix for EAR/ CAR

Specific Exclusions(Refer to Corporate Office)

a) Penalty clauses (i.e. faulty or belated delivery of the insured objects) and guarantees of performance or production

b) Decennial Liability Insurance

c) Bridges, Dams or risks involving underground or tunnelling works.

d) Wet Civil risks exposed to open sea such as ports, breakwaters etc. e) Oil, gas drilling and production rigs.

f) Difference in Conditions/Contingency Policies.

g) All project policies covering ALOP cover.

h) Hydro power projects.

i) Second hand Plant/ Machinery

j) Policies with dismantling cover

k) Policies having period longer than 48 months including the maintenance period and/or maintenance period above 24months

l) Proposals with design defect covers DE-4 and DE-5.

m) Contingent Business Interupption (Supplier / Customer and Utility Extensions under ALOP)

Authority as per the Segments(Occupancy / Risk Colour Code)

For list of risk codes in each segments refer Segmental Occupancy list

Product / Coverage

Hierarchy Level

9 of 41 Rev. 0 July 2008

M10 & Above All Risk codes Actuals Nil

M8 All Risk Codes 9

M7 All Risk codes 7.5

M6 All Risk codes 5


M4 All Risk codes 1

U/W Authority Matrix for MBD/ BOP/ CPM

Product / Coverage Hierarchy Level

M9 All Risk codes 10

Machinery Breakdown/Boiler and Pressure Vessels

Insurance/Contractors' Plant and machinery

In respect of MBD, CPM, BOP it is mandatory to collect the serial number (identification number and other name plate specifications.)

No parts of the equipment should be insured separately except as for provision under engineering tariff.

RemarksSpecific Exclusions (Refer to Corporate Office)Occupancy / Risk Code

U/W Authority


Cr.)


Machinery breakdown insurance:1. Stone Crushers2. Rolling mill stands, pedestal bearing, Raymond mill.3. PVC/ Rubber lined Vessels4. Radios / Tapes recorders, TV sets, Electric measuring Instruments except under Home Protector policy5. Imported Machineries which cannot be repaired in India.6. Cupolas and Oil Fired Furnaces7. Pumps with Glass, Graphite, Rubber Impellers8. Pipe Lines9. Equipment in Foundries having induction furnaces10. Equipment in the plant/ area with lot of dust.11. Portable and Mobile equipment12. Small electrical motors of less than 10 HP13. Starters/ Switch fuse units (SFUs) for electrical motors up to 20 HP14. Thyrister converters 15. Washing machines/ Air-conditioners except under Home Protector policy16. Oil/ well/ ocean drilling machines under Machinery breakdown17. Single equipment costs more than Rs.5 Crs18. MLOP cover

Contractors' Plant and Machinery:1. Railway trackage2. Gas power-generating plant3. Locomotives and steam generating engines4. Site power-generating plant5. Cranes above 10 tonnes capacity6. Mobile diving rigs7. Drilling machines for water supply8. Tunnel Boring Machines9. Policies on first loss basis for CPM cover10. Extension of breakdown cover for CPM equipments.11. Single equipment costs more than Rs.5 Crs12. MLOP cover

Boliers and Pressure Plant Insurance:1. Non IBR equipment2. Boilers with conditional approval by Boiler inspector.3. MLOP cover

NOTE 1: Risk Rating shall be strictly as per Rating Tables provided.

NOTE 2:All the above authorities for MBD are subject to proposals with fire policies. Stand alone policies should be referred to CO U/W.

NOTE 3: All Proposals with MLOP cover should be referred to Co U/W .

10 of 41 Rev. 0 July 2008

M10 & Above All Risk codes Actuals Nil

M9 All Risk codes 2.5 Nil

M8 All Risk Codes 2





NOTE 1: Risk Rating shall be strictly as per Rating Tables provided.

NOTE 2:All the above authorities for EEI are subject to proposals with fire policies. Stand alone policies should be referred to CO U/W.

NOTE 3: All Proposals with MLOP/ ICOW cover should be referred to Co U/W .


Product / CoverageHierarchy

Level

Electronic equipment Insurance

Occupancy / Risk Code

U/W Authority


Cr.)

U/W Authority Matrix for Electronic Equipment Insurance

RemarksIn respect of EEI it is mandatory to collect the serial number (identification number and other name plate specifications.)

No parts of the equipment should be insured separately except as for provision under engineering tariff.

Specific Exclusions (Refer to Corporate Office)

Electronic Equipment:1. Photocopiers2. Medical equipment like Sonography machine, X-ray machine, CT scan etc.3. Laser machine 4. Thyristor panels5. Portable equipments6. Single equipment costs more than Rs.1 Crs.7. Increased cost of working.

11 of 41 Rev. 0 July 2008

PREFERRED SEGMENT (Green) CAUTION(Yellow) EXTREME CAUTION(Red)Residential and commercial buildings. Chimneys, Silos and Cooling Towers, TV Towers. Roads-In Hilly Areas

Theaters, Auditorium and Cinema Halls. Runways, Aprons and Air Taxiways at Airports. Water supply for cities and industrial areas.Factory sheds, Warehouses, Cold storages, Hangars. Roads-In Plain Areas Works in water-Bridges on rivers/ creeks, dams/ coffer

dams, aquaducts, via-ducts, barrages, structural works inwater.

Roads –In townships only Road bridges on land TunnelsInterior decoration works Reservoirs/Tanks Canals/ culvertsSubways on Land Water supply installations for housing colonies. Area reclamation work Underground and overhead water storage tanks for residential/commercial buildings and housing colonies

Sewage Disposal System

Pile Foundations alone in respect of buildings & other structures Ground leveling Railway Gauge conversion (Meter gauge to Broad gauge), Under ground cable ducting

Railway lines(Greenfield lines)

Segmentation Contractors' All Risk Insurance

12 of 41 Rev. 0 July 2008

PREFERRED SEGMENT (Green) CAUTION(Yellow) EXTREME CAUTION(Red)Air Compressors Furnace(Electric arc,Induction/coal,gas,oil fired) Steel Plants/ Blast Furnace and Sponge Iron plantsAir Conditioning Plant Ariel Rope ways Explosives Factories Annealing Furnace Aluminum plants Gas Turbines/ Combined Cycle Power PlantsAsbestos Plant Boilers HVDC Transmission system (excluding transmission lines)/ HVDC

Back to Back Stations Ash Handling Plants Cable laying Hydro Power PlantsAuto Cycles Assembling Plants Cardboard Factories Laying of optical Cables below sea bedAir Separation Plant Cement Factories Water WorksAluminum products Manufacturing Ceramic Tiles Manufacturing PlantsFood and Beverages plants Chemical Plants Brick Works Coal Handling Plants Battery Manufacturers. Coke Oven PlantBelt Conveyor Systems Continuous Casting Plants Cable Works Colliery MineCellular Telephone Dyestuff ManufacturersCement Pipes Mfg. Transmission lines(including Electrification of rural areas and

railways)Chalk Factories Electrification of factories/ buildings/roads.Chain/Chain links Mfg. Plants. Electrostatic Precipitators Chilling Plants Foundries Cigarette Factories Fertilizer plant/Hydrocarbon Processing plant & Petrochemical

PlantsClinker Factories Fabrication on land of Drilling & Production Platforms or any

sections thereof required in the exploration/ production of Oil andGas

Coal Crusher Flight Simulator (Environmental & Visual) Cold Storages Gas WorksComputers/Electronic equipments Graphite electrode plantControl Panels Glass Works Cotton Seed Processing Plants LPG Plants/Gas Sweetening Plants/ LPG Bullets, Tank Farm Cranes Oil/ Liquid Chemical/ Liquid Petroleum products/LPG pipelinesCycle Plants Laying of Water PipelinesCooling Towers Material Handling EquipmentsDiagnostic Equipments Nylon Plant Dyeing Works Ore Preparation Plant

Segmentation Erection All Risk Insurance

13 of 41 Rev. 0 July 2008

Effluent Treatment Plants Paint Factories Electric Motors Paper/pulp Factories Electroplating Plant Polyester Fibre Plant Elevating Equipments Power Plants-Diesel/Steam basedEngineering workshop Producer Gas PlantsFire Fighting Systems Petroleum products Pumping station Forging Shops Pig Iron PlantsGas receiving Terminal /metering Terminal Precious Metals (Platinum, Gold, Silver etc.) Refining & Fabrication

Plants.Glass Fibre Mfg. Plants Rayon Plant Glass lined/ Graphite/ Car bate/Glass vessels Solvent Extraction Plant Hardboard Mfg. Plant Substations including TransformersHeat Treatment Plant Sugar Factories Hospital Equipments Mfg Synthetic Fibre PlantInstrumentation (All types) Sintering Plant Insulator Mfg. works Ultrasonic Non-destructive Testing Equipments Jib Hoist Video Tape & Pan Cakes Mfg. Plant Jute Mills Wind Turbine GeneratorsLaundries Leather Goods Factories Lifts Machine Tools Marble Works Match Factories Medical Treatment EquipmentsMetal Fabrication Mica Products Mfg.Mobile Cranes Pharmaceuticals Photo Film Mfg.Plastic Products Factories Plywood Factories Pottery Printing Press

14 of 41 Rev. 0 July 2008

Refrigeration Plant/ EquipmentsRinks Works Rolling MillsRubber Factories Saw Mill Soap Factories Solar Water Heating SystemSpinning MillsStationery Factories Steel Furniture Plant Steel Structure for Factories & Buildings. Stone Works Studio Equipments Sub Station Equipments,Switchgear-H.T.& L.T -Excluding Transformers

Surgical Equipments Manufacturing Plant TanksTanneriesTelephone ExchangeTextile Mills Machinery Tobacco Factories Tractor Mfg. Plant Varnish Factories Vehicle Assembly PlantsVeneer Factories Water Pumping Station Weaving Mills Weigh Bridge Wire Drawing UnitsWood WorksX-Ray Equipments

15 of 41 Rev. 0 July 2008

Sr No Product Type Hierarchy Level Deviation % Remarks

M10 & AboveActuals

M9 15%M8 10%

M7 7.5%

M6 5%

M10 & AboveM9M8M7M6

M10 & Above

M9M8M7M6

M10 & Above Actuals

M9 15%

M8 10%

M7 7.5%

M6 5%

As the LOP Premium rates are based on Fire rates, no separate deviation will be allowed for FLOP over and above deviation considered in Fire Section.

Section wise deviations to be considered, no additional deviation over the total IAR premium.

Deviation Authority Matrix for Property & Engineering

2

Std Fire and Special Perils Policy1

IAR

Consequential Loss of Profit3

Note 1: Deviation are in built into the siebel rating tool (mentioned as Marketing flexibility in the discount Tab of Siebel) and shall be recorded along with the reason and description for deviation.Note 2: Deviation recording shall be strictly as per the deviation process provided in the Property Underwriting Manual. Deviations considered are subject to Technical audit by corporate office.

4 EAR/CAR/EEI/MBD/BOP/CPM

16 of 41 Rev. 0 July 2008

Sr No Description Hierarchy Level Remarks

Refund due to.. FIRE Engineering General

M10 & AboveActuals Actuals

M9 INR 100,000 INR 100,000

M8 INR 50,000 INR 50,000

2. All refund notes shall be serially numbered starting from 0 each financial year with separate serial and shall be in the refund format.

M7 INR 30,000 INR 30,000M6 INR 20,000 INR 20,000


M9 INR 100,000 INR 50,000M8 INR 50,000 INR 30,000M7 INR 30,000 INR 20,000M6 INR 20,000 INR 10,000M10 & Above Actuals

M9 INR 100,000M8 INR 50,000M7 INR 30,000M6 INR 20,000

M10 & Above Actuals ActualsM6-M9



Refund Authority Matrix Refund Authority (INR)

2

Finalisation of provisional Sum Insured, within 3 months of inception(Date of issue of endorsement in system)

1

1. All refund shall be authorised only by the SBU head / State head as per the refund authority matrix.

Cancellation of Policies including cancellations due to replacement by new policy / policies with same / larger SI

3. Reference of refunds to the corporate office shall be made along with following details:a) Refund Formatb) Refund Calculationc) Supporting documents, if any

Adjustment of Sum Insured on policies subject to declaration / annual adjustment for declaration / floater declaration Policies

NA

Adjustment of Sum Insured for LOP Policies - No Authority-

Silent risk/ Standstill period- No Authority-

Early completion of Project- No Authority-

3

4

5

6

17 of 41 Rev. 0 July 2008

No Description Hierarchy Level Exclusions

FIRE Engineering


Nil

M9

For risks within the underwritingauthority of M7 as per underwritingauthority matrix.

For risks within the underwritingauthority of M7 as per underwritingauthority matrix. Changes to the RI cessions.

M8



Changes to the RI cessions.M7 - No Authority- - No Authority-

M6 - No Authority- - No Authority-

Post Loss Endorsement Authority MatrixPost Loss Endorsement Authority

Approval of Post Loss endorsement1

18 of 41 Rev. 0 July 2008


MARINE

19 of 41 Rev. 0 July 2008

Serial Number

Employee Cadre

PBL Limit (Inland) in INR

PBL Limit (Overseas) in INR

Rates/ Terms Specific Exclusions (Reference to Corp Office) Remarks

1 M 4 20 lacs 40 lacs As per commodity based manual

2 M 5 30 lacs 60 lacs As per commodity based manual

3 M 6 50 lacs 1 crore As per commodity based manual

4 M 7 1.5 crores 3 crore As per commodity based manual

5 M 8 2.5 crores 5 crores As per commodity based manual

6 M 9 6 crores 15 crores As per commodity based manual

7 M 10 & above Actuals Actuals Actuals

COMMODITY TYPE• Crude Oil, Petrochemicals, LPG, LNG• Bank Notes, Cheques, Securities• Gold Ingots, Precious Metals, Silver, Curios • Timber on deck

POLICY TYPE• Storage under multi transit policy/ storage extension beyond duration clause exceeding two months.• DSU

VESSEL TYPE• Transit by classed vessels more than 30 years• Transit by non classed vessels , irrespective of age• Transit by self propelled barges• Transit by barges under tow

MISCELLANEOUS• Transit insurance of tail end transit without pre dispatch inspection report• Shipment between two countries outside India• Voyages terminating/ originating in the interiors of Iran, Iraq, Afghanistan, CIS and African countries

In case the desired Per Location Limit is more than two times the Per Bottom Limit, the acceptance authority will be the next higher authority.

Marine Cargo Acceptance Limits Table

20 of 41 Rev. 0 July 2008

Serial Number

Employee Cadre

Deviation from commodity based rate/ deductible

Permissible As if loss ratio (On the deviated Rate)

1 M 4 None 60%2 M 5 None 65%3 M 6 5% 70%4 M 7 7.50% 75%5 M 8 10% 80%6 M 9 15% 90%7 M 10 & above Actuals Actuals

Marine Cargo Deviation Table

21 of 41 Rev. 0 July 2008

Serial Number Employee Cadre Sum Insured Specific Exclusions (Reference to Corp Office)

1 M 9 NIL

2 M 10 & above Actuals

All Hull Proposals require refrence to Corp Office

Marine Hull and P&I Acceptance Limits Table

22 of 41 Rev. 0 July 2008

Serial Number

Employee Cadre

LOL in USD Number of TEU's

Rates/ Terms Specific Exclusions (Reference to Corp. Office)

1 M 6 USD 100,000 100 As per MTO Rating Manual




5 M 10 & above Actuals Actuals Actuals

1. Past claims experience exceeding 25%2. Traffic to USA/Canada/CIS/African Countries exceeding 30% of total movement.3. Share of General cargo being less than 70%.4. Turnover more than 800 TEU's 5. Deductibles less than USD 2500. 6. Limit of Liability more than USD 2500. 7. Logistic Activity other than MTO like Freight forwarders Hauliers etc.

MTOAcceptance Limits Table

23 of 41 Rev. 0 July 2008

Serial Number

Employee Cadre Deviation from MTO rating manual

1 M 6 Nil2 M 7 2.50%3 M 8 5%4 M 9 10%5 M 10 & above Actuals

Marine MTO Deviation Table

24 of 41 Rev. 0 July 2008

Sr No DescriptionHierarchy

Level Remarks1 Cancellation of specific or open

policy/ adjustment of sum insured

M 4

2 Cancellation of policy/ adjustment of sum insured

M 5


M 6


M 7


M 8


M 9

7 Any other reason including Hull & Marine Liability Policy

M 10 & above

Refund Authority Matrix -Marine

Refund Authority (INR)

Actuals

(1) All Refunds shall be authorized only by the SBU Head/State Head as per the refund authority matrix.(2) All Refund notes shall be serially numbered starting from 0 each financial year with separate serial and shall be in the refund format.(3) Reference of refund to corporate office shall be made along with following details(a) Refund Format(b) Refund Calculation(c) Supporting Documents, if any.

INR 2000

INR 5,000

INR 10,000

INR 20,000

INR 50,000

1,00,000

25 of 41 Rev. 0 July 2008

Sr No Description Hierarchy Level Exclusions

Marine Cargo Marine Hull

M10 & AboveActuals Actuals NIL

M9For risks within the underwriting authority ofM7 as per underwriting authority matrix.

NIL

M8

For risks within the underwriting authority ofM6 as per underwriting authority matrix.

NIL

M7 NIL NIL

M6 NIL NIL

Post Loss Endorsement Authority Matrix

Approval of Post Loss endorsement1Changes to the RI cessions.

26 of 41 Rev. 0 July 2008


MOTOR

27 of 41 Rev. 0 July 2008

Motor Underwriting Authority

1. Private Cars and Two Wheelers

SBU /U/W hub Head Private cars Two Wheeler M4 15 lacs 75,000 M5 15lacs 75,000 M6 20 lacs 1,00,000 M7 25 lacs 1,50,000 M8 30 lacs 2,50,000 M9 30 lacs 3,00,000

2. Commercial Vehicles Goods Carrying Vehicles (Class A)

SBU /U/W hub Head IDV M4 10 lacs M5 10 lacs M6 15 lacs M7 17.5 lacs M8 20 lacs M9 20 lacs

Passenger carrying Vehicles

Bus

SBU /U/W hub Head

Three Wheeler Taxis

Up to 10 seaters

Above 10 seaters

M4 1.5 lacs 12.5 lacs 12.5 lacs 15 lacs M5 1.5 lacs 12.5 lacs 12.5 lacs 15 lacs M6 2 lacs 17.5 lacs 17.5 lacs 20 lacs M7 2.5 lacs 20 lacs 20 lacs 25 lacs M8 3 lacs 25 lacs 25 lacs 30 lacs M9 3 lacs 25 lacs 25 lacs 30 lacs

Miscellaneous type of Vehicles (Class D)

SBU /U/W hub Head

Excavator/Tractor Damper/Tipper All others

M4 20 lacs 10 lacs 15 lacs M5 20 lacs 10 lacs 15 lacs M6 30 lacs 15 lacs 20 lacs M7 30 lacs 15 lacs 25 lacs M8 40 lacs 20 lacs 30 lacs M9 40 lacs 20 lacs 30 lacs

28 of 41 Rev. 0 July 2008

Motor Trade

SBU /U/W hub Head

Class E Class F ( per certificate)

Class G

M4 20 lacs Nil Corporate Office M5 20 lacs Nil Corporate Office M6 25 lacs Nil Corporate Office M7 25 lacs 2,00,000 Corporate Office M8 30 lacs 3,00,000 Corporate Office M9 30 lacs 5,00,000 Corporate Office

Note: (1) The model, zone, age lim it, fuel, tonnage, te rritorial jurisdiction or any other criteria as per Private Cars/ Two Wheelers, Commercial vehicles guidelines will hold good for all SBU Heads and the perm ission to be obtained from their co rporate office as circulated earlier, wherever required. (2) The LS C / SBU being head ed by any cadre can tak e the appro val from their respective supervisor if any underwriting a pproval acceptance is beyond their authority. For example, if any Private Car having IDV of Rs 25 lacs com es to a SBU being headed by M5, then he/she can take approval from his/her respe ctive Reta il/Commercial/State Head of M8 cadre or above or as the case may be.

29 of 41 Rev. 0 July 2008

Motor Deviation Authority (a) IDV level with respect to age for Private Cars:

Vehicle Age Depreciation from MSP*

Up to 5 yrs Up to 50% (as per tariff) 5 to 7 yrs Up to 55%

Above 7 yrs Up to 60% (b) IDV level with respect to age for Two Wheelers:



Above 7 yrs Up to 60%

(c) IDV level with respect to age for Commercial Vehicles



7 to 10 yrs Up to 60% Above 10 yrs Up to 65%

(d) Deviation for IDV level proposed above

SBU /U/W hub Head Deviations Negative Positive

M4 Nil 10% M5 Nil 10% M6 Nil 10% M7 -5% 15% M8 -10% 20% M9 -10% 20%

Note: a) The positive deviation should not exceed manufactures’ selling price of same make, model

and brand. b) The deviation allowed is from actual IDV as allowed, not from MSP. For example, if the

manufacturer selling price is Rs. 3 lacs and it is one year old, then actual IDV will be Rs. 2.40 lacs, the deviation will be calculated from Rs.2.40 lacs and M7 cadre can vary it by Rs.12000/ on negative side and Rs. 36000 on positive side. However this consideration of deviation should be applied judiciously by taking into provision reduction of premium as well as moral hazard. The positive deviation should be higher with the age of vehicle i.e. older the vehicle higher the positive deviation.

30 of 41 Rev. 0 July 2008

Motor Refund Authority (i) Refund of Premium

SBU /U/W hub Head Amount

M4 5,000 M5 5,000 M6 7,500 M7 12,000 M8 12,500 M9 15,000

(ii) Refund Note

To be prepared and approved by SBUs as per their respective financial authority in following way with docum ents enclosed. The refunds which are to be dealt at the corporate office level should also be sent with all proper docum ents attached as mentioned below:

(a) Non Delivery of vehicle (1) Refund format copy with all the details and recommendations (2) Covernote copy (3) Policy copy (4) Insured's letter (5) Dealers letter (6) Financers letter (if any) (b) Double Insurance with two Different Insurers (1) Refund format copy with all the details and recommendations (2) Covernote copy of both the insurers along with date and time (3) Policy copy of both the insurers (4) Insured's letter (5) The latter one to be cancelled and prorata refund (6) Date from which policy has to be cancelled (c) Double Insurance with Identical Insurers (1) Refund format copy with all the details and recommendations (2) Both Covernote copies (3) Both Policy copies (4) Insured's letter (5) The latter one to be cancelled and 100% refund (6) Date from which policy has to be cancelled

31 of 41 Rev. 0 July 2008

(d) Sale of vehicle (1) Refund format copy with all the details and recommendations (2) Covernote copy (3) Policy copy (4) Insured's letter (5) Sale deed or letter (6) Form 29 & 30 (7) Receipt of RTO

(e) In case of different insurers cancellatio n of Earlier dated on Financers request

(1) Refund format copy with all the details and recommendations (2) Covernote copy of both the insurers along with date and time (3) Policy copy of both the insurers (4) Insured's letter (5) Financers letter (f) NCB transfer from Old vehicle to new vehicle (1) Refund format copy with all the details and recommendations (2) Covernote copy (3) Policy copy (4) Insured's letter (5) NCB transfer certificate (6) Proof of Sale of the old vehicle (g) Refund of NCB (1) Refund format copy with all the details and recommendations (2) Covernote copy (3) Policy copy of previous year (4) Insured's letter (5) NCB Certificate or Renewal letter (h) Refund due to Excess TP premium (1) Refund format copy with all the details and recommendations (2) Covernote copy (3) Policy copy (4) Insured's letter

32 of 41 Rev. 0 July 2008

Motor Post Loss Endorsement Authority

(i) Non Monetary: - Changes in class, Name, Engine No. Chassis No. to be dealt by SBU head M6 and above as listed below.

a) Correction in Engine no, Chassis no and Registration no.

(1) Post loss endorsement format copy with all the details and recommendations (2) Covernote copy/Policy copy (3) Insured's letter (4) RC copy (5) Dealers letter

(b) Correction in Owners name due to omission or spelling mistake (1) Post loss endorsement format copy with all the details and recommendations (2) Covernote copy/Policy copy (3) Insured's letter (4) RC copy (5) Dealers letter (6) Financers letter (If any) (c) Correction in the Class of Vehicle For Instance: Private car to Commercial car and vice versa (1) Post loss endorsement format copy with all the details and recommendations (2) Covernote copy/Policy copy (3) Insured's letter (4) RC copy (5) Dealers letter (6) Financers letter (if any)

(ii) Monetary:- All endorsement having monetary implication will continue to be dealt by corporate office

(a) Transfer of vehicle or Sale of vehicle (1) Post loss endorsement format copy with all the details and recommendations (2) Covernote copy/Policy copy (3) Insured's letter (4) RC copy (5) Sale deed or letter (6) Form 29 & 30 (7) Receipt of RTO

33 of 41 Rev. 0 July 2008

(b) Change in Owners name due to sale of vehicle or wrong ownership For Instance: the vehicle is in the name of Company but it is used by M.D exclusively and insurance is in the name of M.D

(1) Post loss endorsement format copy with all the details and recommendations (2) Covernote copy/Policy copy (3) Insured's letter (4) RC copy (5) Dealers letter (6) Financers letter ( If any) (c) Premium related (1) Post loss endorsement format copy with all the details and recommendations (2) Covernote copy/Policy copy (3) Insured's letter (4) Dealers letter (5) Financers letter (if any)

NOTE: Incase of Theft/Loss pls m ention Cla im occurrence date and Intim ation date in all the above mentioned cases.

34 of 41 Rev. 0 July 2008


RETAIL LINES

35 of 41 Rev. 0 July 2008

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

0.550.501.501.250.057.50 2.507.50 2.00

10.00 10.007.50 5.00

10.00 5.007.50 1.002.50 2.00

0.75/1 10.002.50 1.005.00 0.500.50 10.00

TARIFF0.60 5.002.50 5.00

# Note : Siebel Calcualtors not to be used for calculation of rates for sections under Protector Policies

The

Tota

l S.I

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der

Fire

Sec

tion

not

to

exce

ed 7

.5 C

rore

s

HOME AND FAMILY PROTECTOR

SECTIONS

ALL RATES : PER MILLE ALL AMOUNTS : RS. IN LACS

SEC. DESCRIPTION

M4RATE

M8M7 M9

1-A FIRE (CONT.)185.001-B FIRE (BLDG.)

CURRENT S.I ACCEPTANCE LIMITS FOR

SBU's

The

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der

Fire

Sec

tion

not

to

exce

ed 2

Cro

res

15%

on

Boo

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ates

The

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tion

not

to

exce

ed 2

Cro

res

2-A BURGL. (CONT.)

185.00

2-B BURG. (BLDG.)3 ALL RISK4 FXD.GLAS/SANIT.5 E.E.I (TERR. XTRA)

6-A TV, MP3 ETC.6-B LAPTOP, MOB. etc.6-C PEDAL CYCLE

LOAN PAYMENT10 BAGGAGE

7 EL./MECH B'DN8 P.A (TABLE B/C)

The

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tion

not

to

exce

ed 7

.5 C

rore

s

11-C TENT. LEG.LIAB.12 INCR. LIV. EXP.

11-A PUBLIC LIABILITY11-B W.C

9 35%

on

Boo

k R

ates

M5

35%

on

Boo

k R

ates

PROPOSED CADRE-WISE AUTHORITIES FOR S.I ACCEPTANCE & RATES

15%

on

Boo

k R

ates

The

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Sec

tion

not

to

exce

ed 5

Cro

res

25%

on

Boo

k R

ates

The

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der

Fire

Sec

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to

exce

ed 5

Cro

res

M6

25%

on

Boo

k R

ates

SI < 5 Lac

SI > 5 Lac

0

36 of 41 Rev. 0 July 2008

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

0.600.601.000.05

25 TRANSIT50 SAFE

4.00 (+5) 20.007.50 10.0010.00 250.0010.00 5.007.50 20.0010.00 20.007.50 5.00

TARIFF 250.000.75/1 10.00TARIFF 500.00

5.00 0.501.00 20.00

TARIFF0.60 10.00

TARIFF 25.00



The

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not

to

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25 C

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15%

on

Boo

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ates

The

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Fire

Sec

tion

not

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ed

25 C

rore

s

15%

on

Boo

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ates

The

Tota

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der

Fire

Sec

tion

not

to

exce

ed

30 C

rore

s

25%

on

Boo

k R

ates

M8M5 M6

35%

on

Boo

k R

ates

The

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Fire

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40 C

rore

s

35%

on

Boo

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BUSI. INTERRUPT.

The

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Fire

Sec

tion

not

to

exce

ed

30 C

rore

s

2000.00

2000.00

The

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der

Fire

Sec

tion

not

to

exce

ed

40 C

rore

s

25%

on

Boo

k R

ates

10 BAGGAGE

12 PROF. INDEMNITY

11-B W.C11-C TENT. LEG.LIAB.

PUB. LIAB.11-A

6-B LAPTOP, MOB.PH.6-C AIR-NEON SIGN

8 P.A9

7 EL./MECH. B'DN

5-B DATA REINSTATE.6-A TV, VIDEO

4 FXD.GLAS/SANIT.5-A E.E.I

3-B F.G

3-A MONEY

1-B FIRE (BLDG.)

2.50

1-A FIRE (CONT.)

2-A BURG. (CONT.)2-B BURG. (BLDG.)


SBU's

M7 M9

OFFICE PROTECTOR

SECTIONSALL RATES : PER MILLE ALL AMOUNTS : RS. IN LACS

SEC. DESCRIPTION

M4RATE

0

37 of 41 Rev. 0 July 2008

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

S.I ACCEPTANCE

LIMIT

DEVIATION FROM BOOK

RATES

1.000.750.052.50 35.00

4.00 (+5) 20.007.50 10.0010.00 100.007.50 10.0010.00 10.007.50 5.00

TARIFF 150.0010.00 25.000.75/1 10.00

1A*125% 500.005.00 0.502.00 20.00

TARIFF30.0050.00


TRADE PROTECTOR

SECTIONS


SEC. DESCRIPTION

M4RATE

M8 M9M6

1-B FIRE (BLDG.)2000.00

1-A FIRE (CONT.) TARIFF (TER. XTRA)

2000.002-B BURG. (BLDG.)

2-A BURG. (CONT.)

3-A MONEY3-B F.G4 FXD.GLAS/SANIT.5 E.E.I (NO AMC 100% LOAD)

AIR-NEON SIGN7-A EL./MECH. B'DN

6-A TV, VIDEO6-B LAPTOP, MOB.PH.


SBU's

9 BUSI. INTERRUPT.10 BAGGAGE

7-B D.O.S (REFRIDG.)8 P.A (Table B/C)

6-C

12 GOOD IN TRANSIT

20.00

11-A PUB. LIAB.11-B W.C


15%

on

Boo

k R

ates

The

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not

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35 C

rore

s

The

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Fire

Sec

tion

not

to

exce

ed

35 C

rore

s

25%

on

Boo

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ates

M5

The

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Sec

tion

not

to

exce

ed

50 C

rore

s

25%

on

Boo

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M7

35%

on

Boo

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ates

The

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to

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50 C

rore

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35%

on

Boo

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The

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25 C

rore

s

15%

on

Boo

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ates

The

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Sec

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exce

ed

25 C

rore

s

SI < 1 Cr.

SI >1<2.5 Cr.

HAZARD.

NON-HAZ.

0

38 of 41 Rev. 0 July 2008

S.I ACCEPTANCE

LIMIT

RATE ACCEPTANCE

ALLOWED

S.I ACCEPTANCE

LIMIT

RATE ACCEPTANCE

ALLOWED

S.I ACCEPTANCE

LIMIT

RATE ACCEPTANCE

ALLOWED

S.I ACCEPTANCE

LIMIT

RATE ACCEPTANCE

ALLOWED

S.I ACCEPTANCE

LIMIT

RATE ACCEPTANCE

ALLOWED

S.I ACCEPTANCE

LIMIT

RATE ACCEPTANCE

ALLOWED

0.900.650.40

SAMETARIFF 1000.00TARIFF 1000.0010.00 1000.0015.00 100.00

100 TRANSIT200 SAFE

4.00 (+10) 25.001.00 15.00

1A*125% INCLUDED IN SEC. 1

1.50 100.00TARIFF


The

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Sec

tion

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to

exce

ed 7

0 C

rore

s

35%

on

Boo

k R

ates

The

Tota

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der

Fire

Sec

tion

not

to

exce

ed 7

0 C

rore

s

35%

on

Boo

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ates

15%

on

Boo

k R

ates

The

Tota

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der

Fire

Sec

tion

not

to

exce

ed 5

5 C

rore

s

15%

on

Boo

k R

ates


The

Tota

l S.I

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der

Fire

Sec

tion

not

to

exce

ed 6

0 C

rore

s

25%

on

Boo

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ates

The

Tota

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der

Fire

Sec

tion

not

to

exce

ed 6

0 C

rore

s

25%

on

Boo

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ates

The

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der

Fire

Sec

tion

not

to

exce

ed 5

5 C

rore

s

M8M6

5000.00


SBU's

10-A PUB. LIAB.

6 MONEY 2.00

7 F.G

10-B W.C

8 P.A (TABLE C)

9 BUSI. INTERRUPT

4 E.E.I (TERR. XTRA)

5 LAPTP/MOB. etc.

3-A M.B.D3-B B.P.P

5000.00

2-B BURG. (BLDG.)

2-A BURG. (CONT.)

1-A FIRE (CONT.) TARIFF (TER. XTRA)1-B FIRE (BLDG.)

INDUSTRY PROTECTOR

SECTIONS


SEC. DESCRIPTION

M4 M5 M7 M9RATE

SI < 0.5 Cr.

SI >0.5<1 Cr.SI >1<2.5 Cr.

0

39 of 41 Rev. 0 July 2008

S.I ACCEPTANCE LIMIT

RATE DEVIATION ALLOWED

S.I ACCEPTANCE

LIMIT

RATE DEVIATION ALLOWED S.I ACCEPTANCE LIMIT


S.I ACCEPTANCE LIMIT RATE DEVIATION ALLOWED





ALL RISK INSURANCE Sum Insured 25 LACS 30 LACS 20% 30 LACS 20% 40 LACS 25% 40 LACS 25% 50 LACS 30% 50 LACS 30%

CATTLE Sum Insured 20 THOUSAND 20 THOUSAND NIL 20 THOUSAND NIL 30 THOUSAND 10% 30 THOUSAND 10% 40 THOUSAND 15% 40 THOUSAND 15%

CRITICAL ILLNESS Sum Insured FOR GROUP ONLY.

TOTAL S.I 75 LACSFOR GROUP ONLY. TOTAL S.I 75 LACS NIL FOR GROUP ONLY.

TOTAL S.I 75 LACS NIL FOR GROUP ONLY. TOTAL S.I 100 LACS 5% FOR GROUP ONLY. TOTAL

S.I 100 LACS 5% FOR GROUP ONLY. TOTAL S.I 125 LACS 15% FOR GROUP ONLY.

TOTAL S.I 125 LACS 15%

FIDELITY GUARANTEE

Non-Float./Floater : Highest S.I / S.I

25 LACS FOR EACH INDIVIDUAL / FLOATER FOR A NAMED COVER

ONLY

30 LACS EACH INDIVIDUAL / FLOATER FOR A NAMED COVER

ONLY

15%

30 LACS EACH INDIVIDUAL /

FLOATER FOR A NAMED COVER

ONLY

15%40 LACS EACH INDIVIDUAL / FLOATER FOR A NAMED

COVER ONLY25%

40 LACS EACH INDIVIDUAL / FLOATER FOR A NAMED

COVER ONLY25%

50 LACS EACH INDIVIDUAL /

FLOATER FOR A NAMED COVER ONLY

35%

50 LACS EACH INDIVIDUAL / FLOATER FOR A NAMED COVER

ONLY

35%

GROUP MEDICLAIM Sum Insured

PLAIN VANILLA 45 YEARS AGE. GD AS

MANUAL

PLAIN VANILLA COVER UPTO 45 YEARS OF AGE

5% ON BOOK RATES. NO GD.







PLAIN VANILLA COVER UPTO 45 YEARS OF

AGE




GROUP PERSONAL ACCIDENT

Total S.I for Top 20 lives

125 LACS. TABLE B/C ONLY. GD AS MANUAL

175 LACS FOR TABLE B/C ONLY. GD AS

MANUAL.

15% FOR MINIMUM GROUP OF 100

175 LACS FOR TABLE B/C ONLY. GD AS MANUAL.


200 LACS FOR TABLE B/C ONLY. GD AS MANUAL

20% IF THE MINIMUM GROUP

STRENGTH IS 100

200 LACS FOR TABLE B/C ONLY. GD AS MANUAL

20% IF THE MINIMUM GROUP STRENGTH IS

100


MANUAL



MANUAL


INDIVIDUAL PERSONAL ACCIDENT

Sum Insured 10 LACS TABLE B/C COVER ONLY

15 LACS TABLE B/C COVER ONLY NIL 15 LACS TABLE

B/C COVER ONLY NIL 20 LACS TABLE B/C COVER ONLY NIL 20 LACS TABLE B/C COVER

ONLY NIL 25 LACS TABLE B/C COVER ONLY 10% 25 LACS TABLE B/C

COVER ONLY 10%

INDIVIDUAL MEDICLAIM Sum Insured AGE : 45 YEARS AND

S.I : 5 LACSAGE : 45 YEARS AND

S.I : 5 LACS NIL AGE : 45 YEARS AND S.I : 5 LACS NIL AGE : 45 YEARS AND S.I : 5

LACS NIL AGE : 45 YEARS AND S.I : 5 LACS NIL

AGE : 50 YEARS AND S.I 5 LACS SUBJECT TO NO DEVIATION IN

THE MEDICAL REPORTS

NIL

AGE : 50 YEARS AND S.I 5 LACS SUBJECT TO NO

DEVIATION IN THE MEDICAL REPORTS

NIL

MONEYHigher of Single

Carrying / Cash-in-safe

SINGLE CARRY 30 LACS CASH-IN-SAFE 50 LACS

SINGLE CARRYING 30 LACS

CASH-IN-SAFE 50 LACS20%

SINGLE CARRYING 30 LACS

CASH-IN-SAFE 50 LACS

20%SINGLE CARRYING 35 LACS :::: CASH-IN-SAFE 50

LACS25%

SINGLE CARRYING 35 LACS ::: CASH-IN-SAFE

50 LACS25%

SINGLE CARRY : 50 LACS CASH-

IN-SAFE : 50 LACS30%

SINGLE CARRY : 50 LACS CASH-IN-SAFE : 50 LACS

30%

M8M6M4


Retail-lines Products

CURRENT S.I ACCEPTANCE

LIMITS FOR AN SBUP.M.L

M9M7M5PRODUCT

0

40 of 41 Rev. 0 July 2008

Sno. Reason for Refund Misc.

1 Finalisation of Provisional Sum Insured 10,000

2

Cancellation of Policies including cancellation due to replacement by new policy / policies with same / larger Sum Insured

20,000

3

Adjustment of Sum Insured on Policies subject to declaration / annual adjustment for Declaration / Floater Declaration / MOP etc. Policies

1,00,000

Note :

Decentralisation of Financial Authority for Refund of Premium

2. Refund Calculation 3. Supporting Documents, if any

All Refunds shall be authorised only by the Head of the respective policy issuing SBU

Al Refunds shall be serially numbered starting from 0 each financial year with separate serial and shall be in the refund format

Beyond the above limits nad refunds not mentioned above are to be sent to CO alongwith the following details :

1. Refund Format

ALL AMOUNTS : INR

41 of 41 Rev. 0 July 2008