ALL FIRE CIRCULARS ISSUED DURING 2001
CIRCULAR NO.	DATE	SUBJECT
FT/1/2001	31-1-2001	All India Fire Tariff - Revision of Petrochemical Tariff
FT/2/2001	9-2-2001	Householders and Shopkeepers Package Policies.
FT/3/2001	9-2-2001	Time Limit for Finalising annual Maintenance contract required for sanctioning/continuation of Fire Extinguishing Appliances discount.
FT/4/2001	9-2-2001	Revised Special Rates Under Floater Decleration Policy- Warehousing Corporations.
FT/5/2001	2-3-2001	Householders and Shopkeepers Package Policies.
FT/6/2001	19-3-2001	Revised Petrochemical Tariff effective from 31-3-2001
FT/7/2001	27-3-2001	Revision of All India Fire Tariff
FT/8/2001	27-3-2001	Revision of Voluntary Deductible Scheme under Petrochemical Tariff effective from 31-3-2001
FT/9/2001	27-3-2001	Tailor-made policy for stocks in General Warehouses Corporation.
FT/10/2001	27-3-2001	Computation of PML for Mega risk
FT/11/2001	3-4-2001	Revision of All India Fire Tariff - Special Provision
FT/12/2001	30-3-2001	Mid-term cancellation of Operational policies to change over to comprehensive all Risk Policies for Mega Risks.
FT/13/2001	18-4-2001	Revision of All India Fire Tariff - Special provision
FT/14/2001	30-7-2001	Revision of Tariff Item "Nitrocellulose Manufacturing"
FT/15/2001	30-7-2001	Extension of Tariff Item " Nitrocellulose Manufacturing"
FT/16/2001	30-7-2001	Rating of Pipelines for earthquake cover located outside the compounds of Industrial Complex including their contents.
FT/17/2001	4-10-2001	Rating of Automobile Filter Manufacturing
FT/18/2001	4-10-2001	Fire Rating for Tractors lying in open.
FT/19/2001	9-10-2001	Change in the provisions to include Mounded Bullets under Petrochemical Tariff.
FT/20/2001	21-11-2001	Rating of 'Pilot Plants' under AIFT 2000.
FT/21/2001	21-11-2001	Rating of Confectionery Manufacturing
FT/22/2001	12-11-2001	Deletion facility in respect of STFI/RSMTD perils.
FT/23/2001	21-12-2001	Application of surcharge on premium to cover risks arising on account of Terrorism.
FT/24/2001	21-12-2001	Guidelines for Determination of PML.
FT/25/2001	21-12-2001	Consequential Loss (Fire) Tariff profit rate for 15 months Indemnity period applicable to Petrochemical Tariff.
FT/26/2001	21-12-2001	Rating of Compound walls, fencing and crematoriums.
FT/27/2001	21-12-2001	Rating of Health Club, Gymnasium and Swimming Pool under new Tariff.
FT/28/2001	21-12-2001	Excess in Householders and Shopkeepers Package Policy
FT/29/2001	21-12-2001	Rating of CNG Compressor installed in Petrol/kiosks in CNG stations.
FT/30/2001	26-12-2001	Corrigendum.

FT/1/2001                                                                                         January 31, 2001

Sub :All India Fire Tariff - Revision of Petrochemical Tariff

The Tariff Advisory Committee has revised Petrochemical Tariff. A copy of the revised tariff is herewith.

The following decisions will apply :

1. The revised tariff will come into force for all new business and renewals falling on or after 31-3-2001.

2. Insured can cancel the existing policies (all Fire Policies pertaining to the risk) on pro-rata basis and switch over to the new tariff w.e.f. 31-3-2001 as a one time exception.

3. In case of risks where the aggregate premium of all Fire Policies pertaining to the risk goes up under the new tariff, such risks can renew the policies at the rates and terms of the old (existing) tariff for one year.

4. Risks presently rated under the existing Petrochemical Tariff, which go outside the purview of the new Petrochemical Tariff in view of the revision will be allowed to continue under the new tariff if the insured so desire as a one time option. However, once the option is exercised the risks shall continue to be rated under Petrochemical Tariff and the option to go outside the purview of Petrochemical Tariff shall not be available to such risks thereafter.
5. Rates and terms as per the provisions of new tariff can be finalised by the insurers themselves without any reference to TAC. In other words, no inspections will be carried out by TAC engineers to fix rates and terms.

6. The amendment on basis rate for CL (Fire) cover communicated vide our Circular No.FT/2A/2000 dated 4-5-2000 shall not apply to risks rateable under Petrochemical Tariff as brought out under the opening para of the said Circular. The CL (Fire) rate will continue to be governed by the existing CL (Fire) Tariff

   Insurers are requested to inform their operating offices suitably in this regard.

   GO TO INDEX

   FT/2/2001                                                                                 February 9, 2001

Sub : Householders and Shopkeepers Package Policy

The Tariff Advisory Committee has decided to revise rates, terms and conditions for the above risks in case of tariff components under new All India Fire Tariff as below :

	Householders Policy	Shopkeepers Policy
Perils covered	Perils of standard Fire and Special Perils Policy and Earthquake	Perils of standard Fire and Special Perils policy and Earthqauke
Rate	Rs. 0.50 per mille	Rs. 2.25 pwe mille
Excess	5% of the Sum Insured	5% of each claim for AOG perils subject to a maximum od Rs. 25,000/-
Under Insurance	15% of the Sum Insured	15% of the Sum Insured

It is not permissible to delete STFI and RSMTD perils from the scope of the cover.

The above changes shall be effective from 1-5-2000.

Insurers are requested to advise their operating offices suitably in this regard.

Secretary

GO TO INDEX

FT/3/2001                                                                             February 9, 2001

Time limit for finalising Annual Maintenance Contract required for sanctioning /continuation of Fire Extinguishing Appliances discount

The Tariff Advisory Committee has decided to allow a time limit of one year (from 1-5-2000) i.e. upto 30-4-2001 to the Insured to finalise Annual Maintenance Contract with approved third party agencies to certify the satisfaction level of the Fire Extinguishing Appliances at the risks for granting/continuation of F.E.A discounts by the Companies. The Quantum of F.E.A. discounts for various Fire Extinguishing Appliances shall be as per revised All India Fire Tariff effective from 1-5- 2000 where Standard Fire and Special Perils Policies have been issued to the Insureds. The requirement of Annual Maintenance Contract would apply strictly from 1-5-2001.

Insurers are requested to advise their operating offices suitably in this regard.

GO TO INDEX

Revised Special rates under Floater Declaration Policy granted for the stocks of Central Warehousing/State Warehousing Corporation and Marketing Federations owned by State Govt.

The Tariff Advisory Committee has decided the following rating options in case of the above risks for the period 2000-2001 where Standard Fire and Special Perils Policies have been issued as per new All India Fire Tariff.

a) Standard Fire and Special perils policy with the deletion of STFI and RSMTD perils : Rs. 1.25%o

b) Standard Fire and Special perils policy with the deletion of STFI perils only : Rs. 1.50%o

c) Standard Fire and Special perils policy with the deletion of RSMTD perils only : Rs. 2.00%o

d) Standard Fire and Special perils policy : Rs. 2.25%o

Insurers are requested to advise their operating offices suitably in this regard.

Secretary

GO TO INDEX

FT/5/2001                                                                             March 02, 2001

Sub : Householders and Shopkeepers Package Policies

Insurer's attention is invited to our Circular no. FT/2/2001 dated February 09, 2001 on the captioned subject. The decision contained in the circular would be effective from March 01, 2001 for all new business and renewals falling due on or after March 01, 2001 and not w.e.f 1-5-2000 as stated there in.

Insurers are requested to advise their operating offices suitably in this regard.

Secretary

GO TO INDEX

 

FT/6/2001                                                                                     March 19, 2001

                                            Corrigendum

Sub : Revised Petrochemical Tariff effective from 31-3-2001

Insurers' attention is invited to the above Tariff sent with circular no. FT/1/2001 dated 31-1-2001 and they are requested to note the following modifications:-

Sheet 1

The following Note should be added as Note 1 under 'Scope':-

"Note 1: Urea Synthesis Plant shall be rated under this tariff and a basic rate of Rs.2.75%o shall apply. This rate is subject to the warranties given under Section 6."

Note 2 (existing) : The number 2000 appearing in bracket under this Note should read as 2001.

The existing Note 1 and Note 2 should read as Note 2 and Note 3 respectively.

Sheet 2

A new item as below should be added as item no. 2.1.8 on sheet no. 2:

"2.1.8 Unstable liquids/gases : A liquid or gas may be termed as unstable if it has known characteristics of being readily subjected to rapid chemical change under industrially approved storage or handling practices. Examples are Ethylene Oxide, Acrylonitrile, Acrylene, Hydrogen Cyanide and the like. However, substances which are subject to simple and harmless decomposition or polymerisation should not be considered as unstable for the above purpose."

Sheet 3

The number 5.1.3.4 appearing in bracket in the Note under item no.3.2 should read as 5.4.

Sheet 5

Sub-item 4.3.1 should read as below :

"Add together all loading and deduct there-from all discounts as given in Section 6.2, 6.3 and 6.4 respectively and the net loading or discount should be applied to the basic rate as worked out in accordance with the rating procedure set out in Sections 5.1, 5.2 and 5.3 to obtain Standard Fire and Special Perils rate."

Sub-item 4.3.2 should read as below :

"The Standard Fire and Special Perils rate for each plant/unit after application of all loading and discounts should not be less than 65% of the basic rate applicable as per sections 5.1, 5.2 and 5.3 nor shall it be more than 165% of the basic rate."

Sheet 6

The words "basic package rate" appearing in bracket in the first line under item 4.3.3 shall read as "Standard Fire and Special Perils rates."

Sheet 7

Sub-item 5.1 (e)

Table no. 5 in the 3rd line should read as Table no. 4.

Sheet 9 :

a) The number '21' shown under column no (2) at row (d) should read as '26'.

b) The number '131' shown under column no (5) at row (g) should read as '130'.

Sheet 10:

Note 2 under Table 3 should read as under:

"For arriving at the hold up capacity in the discrete circuit the quantity of materials in the process equipment along with the connected train of equipment/knockout drum/pipeline etc. contained by shut off valves shall be taken."

Sheet 11:

Table no. 4

Basic Rate for Final Process hazard factor of 1.50 and Material factor 21 should read as 3.640 instead of 2.640.

Sheet 13

The words "and Hazardous Catalyst" appearing under item no.5.3.1.9 c) should be deleted .

Note appearing under item 5.3.1.9 should read as under :

" Note - For buildings of other constructions and open storage of products listed in (a), (b), (d) and (e) above, an extra of 15% should be charged on aforesaid rates.

Sheet 16

The wording of the column header for the third column should read as under:

"If warranty is deleted or modified, items on which loading to be applied and % loading."

Sheet 17

Warranty 6.2.8

The wording in the last column should read as below :

"5% on particular plant/unit"

Warranty 6.3.1

The words "20% on particular to tank" appearing under warranty 6.3.1 should read as "20% on particular storage tank".

The last line in column no.2 in respect of item 6.3.2 should read as

" 2,00,000 KL and above" instead of "more than 2,00,000 KL".

The word "package" appearing under item 6.4 should be deleted.

The wording for column header (applicable to Tank Farm) between item no 6.3 and 6.3.1 for the third column should read as under:

"If warranty is deleted or modified, items on which loading to be applied and % loading."

Sheet 18

The wording for column header for the third column should read as under:

"If warranty is complied with items on which discount to be applied and % discount".

Sheet 21

The item 7.3.1 should read as below:

"A full time permanent Secretary having a back ground in Fire fighting relevant to the types of industries included in the scheme. There shall be a permanent office for the Secretariat with necessary staff."

Sheet 23

The word "Development" appearing under item 7.6.3 should be replaced by the word "Deployment".

Insurers are requested to advise their operating office suitably in this regard pending printing of the revised Petrochemical Tariff.

Secretary

GO TO INDEX

 

FT/ 7 /2001                                                                                 March 27, 2001

Re : Revision of All India Fire Tariff

The Tariff Advisory Committee has revised the All India Fire Tariff. A copy of the revised tariff is enclosed.

The revised tariff will be effective for all new business and renewals falling due on or after 31-3-2001.

Insurers are requested to advise their operating offices suitably in this regard.

SECRETARY

GO TO INDEX

FT/ 8 /2001                                                                             March 27, 2001

Re : Revision of Voluntary Deductible scheme under Petrochemical Tariff

effective from 31-3-2001

Further to the Committee's circular no. FT/1/2001 dated 31-1-2001 in respect of new Petrochemical Tariff the Insurers are hereby informed that the Committee has decided to revise the Voluntary deductible scheme for Petrochemical Tariff. This revised scheme will be applicable for new Petrochemical Tariff coming into force for all new business and renewals falling on or after 31-3-2001. The revised Voluntary deductible scheme is enclosed.

Insurers are requested to advise their operating offices suitably in this regard.

SECRETARY

Annexure

b) Business Interruption Claims

GO TO INDEX

FT/ 9 /2001                                                                                     March 27, 2001

Re : Tailor-made Policy for Stocks in General Warehouses/Container Freight Stations/ Bonded warehouses belonging to M/s. Central Warehouses Corporation.

The Tariff Advisory Committee has decided as below in respect of cover under single policy for stocks belonging to the above Insured lying in General Warehouses, Container Freight Stations and Bonded Warehouses :

a) A Floater Declaration Policy can be given for the goods lying at various locations including Container Freight Stations, Bonded Warehouses and General Warehouses.

b) The sum insured should be the Maximum value of Goods held in the previous year. Any increase in Sum Insured noticed during the currency of the Policy should be advised to the Insurers and corresponding additional premium should be paid as per Tariff provisions.

c) Under-insurance upto 15% should be ignored. However, if the same exceeds 15% at any time the actual under-insurance should be taken into account for arriving at the loss.

d) The special rates granted by the Committee (ranging from Rs. 1.25%o to Rs. 2.25%o as per the circular no. FT/4/2000 dated 09-02-2001) in respect of godowns/warehouses for Central/State Warehousing Corporations should apply in this case.

e) The insured can declare the values quarterly or half yearly or yearly basis within 90 days of the expiry of such periods subject to the consent of the Insurer.

Insurers are requested to advise their operating offices suitably in this regard.

                                                                                                SECRETARY

GO TO INDEX

FT/10/2001                                                                                 March 27, 2001

Re :Computation of PML for Mega Risks

Insurer's attention is invited to TAC letter no. FIRE/369 dated 6-12-99 wherein the decision of the Committee to allow the risks with PML exceeding Rs. 1054 crs.to go out of the purview of the tariff was conveyed. The Committtee also decided to accept Swiss-Re module for computation of PML by the Insurers.

It has now been decided that any insurer desiring to issue Comprehensive All risks Policy for mega risk as per the above norm shall submit their application with inspection report to TAC, Head Office for PML assessment by the Committee.

SECRETARY

GO TO INDEX

FT/11/2001                                                                                 April 03, 2001

Re : Rvision of All India Fire Tariff - Special Provision

This has reference to our Circular No. FT/7/2001 dated 27th March, 2001 on the captioned subject. Insurers are informed that wherever the premium goes up in respect of policies renewed upto 30-4-2001, the same may be renewed for one more year at the existing rates under erstwhile AIFT.

Insurers are requested to advise their operating offices suitably in this regard.

SECRETARY

GO TO INDEX

FT/ 12 /2001                                                                             March 30, 2001

Re : Mid-Term cancellation of Operational policies to change over to Comprehensive All Risks Policies for Mega Risks

The Tariff Advisory Committee has decided that the Insurers shall follow the existing All India Fire Tariff provisions for issuing policies on short period basis or for mid-term cancellation of annual Policies to avail comprehensive All Risks Policies in respect of Mega risks.

Insurers are requested to inform their operating offices suitably in this regard.

SECRETARY

GO TO INDEX

 

Re : Revision of All India Fire Tariff - Special Provision

Further to our circular no. FT/11/2001 dated April 03, 2001, insurers are informed that policies falling due for renewal on or after 1-5-2001 shall not be cancelled mid term to take advantage of the provisions of the circular undr reference i.e. FT/11/2001 dated April 03, 2001.

It is further clarified that the erstwhile tariff referred to inthe circular (Ft/11/2001) includes AIFT in force prior to 31-3-2001 and 1-5-2000.

Insurers are requested to inform their operating offices suitably in this regard.

SECRETARY

FT/ 14 /2001                                                                                 30-7-2001

Re: Revision of Tariff Item "Nitrocellulose Manufacturing"

The Tariff Advisory Committee has decided to revise the above tariff entry "Nitrocellulose Manufacturing" to take care of the Industrial grade nitrocellulose manufacturing . The revised tariff entry shall read as under:

Risk Code	Rate Code	Description of Risk	Rate (Rs.per mille)
133	18 24	Nitro Cellulose Manufacturing Industrial Grade Others	5.50 15.00

The revised rates would apply for all fresh business and renewals falling on or after the date hereof.

Insurers are requested to instruct their operating offices suitably in this regard.

Secretary  

GO TO INDEX

Re: Extension of the Standard Fire & Special Perils Policy to cover damage due to Molten Material Spillage

The Tariff Advisory Committee has decided the following rates, terms and conditions for the above cover as an extension of the fire cover on "First Loss" basis.

Rates and Terms

Premium Rate
MD	Re. 0.65%o
LOP	Re. 0.65%o
Deductible
MD	Nil
LOP	7 days
Conditions: There shall be no claim due to molten material spillage during the 2 years period prior to the policy period at inception. LOP cover to be limited to 50% of respective loss limit opted for material damage loss or damage to the spilled material to be excluded

The above decision will be effective for all fresh business and renewals falling on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

FT/16/2001                                                                                     30-7-2001

The Tariff Advisory Committee has decided to charge a single rate of Re. 0.35%o irrespective of the earthquake zones for extending the Standard Fire and Special Perils Policy to cover Earthquake (Fire & Shock ) for the pipelines located outside the compounds of industrial complex and passing through different Earthquake zones. This rate shall apply for the contents of the pipelines also.

The above decision will be effective for all fresh business and renewals falling on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

Re :Rating of Automobile Filter Manufacturing

The Tariff Advisory Committee has decided to introduce a new tariff item as below in Section IV of All India Fire Tariff to take care of the above occupancy :

Rate Code Name of Tariff item Rate in Rs. per mille

09 Automobile Filter Mfg. 2.50%o

The above decision will be effective for all fresh business and renewals falling on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

 

FT/ 18/2001                                                                                     Date : 4-10-2001

Re: Fire rating for Tractors lying in open

Arising out of a representation the Tariff Advisory Committee has decided to charge Category I storage rate i.e. Rs. 6.00 %o for vehicles stored in the open including tractors.

The above decision will be effective for all fresh business and renewals falling on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

Re : Change in the provisions to include Mounded Bullets under Petrochemical Tariff

The Tariff Advisory Committee has decided to modify the following provisions of the Petrochemical Tariff as under to include Mounded Bullets :

Warranty No. Description Discount

6.4.11(a) Warranted the storage tanks of identification ... is underground 15%

6.4.11(b) Warranted bullet/vessels of identification... is mounded 10%

"4.2.1 Rulings"

1) Between mounded vessels and plants : 15 meters

2) Between mounded vessels and tanks/gas holders : 15 meters

3) Between mounded vessels : 2 meters

4) Between mounded vessels and utilities : 15 meters

The above decision shall be effective for all fresh business and renewals falling due on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

FT/ 20/2001                                                                                 Date : 21-11-2001

  Sub : Rating of 'Pilot Plants' under AIFT 2000

The Tariff Advisory Committee has decided to introduce a new tariff entry as below in Section V of All India Fire Tariff to take care of the above occupancy :

Name of Tariff item Rate in Rs. per %o

Pilot Plants Rate applicable to the manufacturing facility available

The above decision will be effective for all fresh business and renewals falling due on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

FT/ 21/2001                                                                             Date : 21-11-2001

  Sub : Rating of Confectionery Manufacturing Plants under AIFT.

The Tariff Advisory Committee has decided to combine the following entries with a single rate as below in the current All India Fire Tariff to take care of the concerned occupancies :

Name of Tariff item Rate in Rs. per %o

Confectionery Manufacturing Plants,

Sugar Candy Manufacturing Plants and 1.75%o

Sweet meat Manufacturing Plants

Separate entries with different rates for the above items in the current AIFT stand deleted.

The above decision will be effective for all fresh business and renewals falling due on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

 

Sub : Deletion facility in respect of STFI/RSMTD perils

Arising out of a query on deletion facility for STFI/RSMTD perils in respect of "Silent Risks", Tariff Advisory Committee has decided to clarify that it is permissible to exclude the above perils at the inception of the policy only in case of risks rateable under Section IV and V of the All India Fire Tariff. Reduction in premium rate for such deletion may be allowed as shown under the concerned sections.

You are requested to advice your operating offices suitably in this regard.

Secretary

GO TO INDEX

 

FT/23/2001                                                                                             21-12-2001

Application of a surcharge on Premium to cover risks arising on account of Terrorism

Further to our circular No. TAC/3/2001 dated 1-10-2001, TAC has decided as follows.

A) The surcharge of 10% referred to in our circular No. TAC/2/2001 and TAC/3/2001 will be treated as premium.

B) No option will be given to the insureds to opt out of terrorism risks during the current policy year.

Insurers are requested to inform their Regional Offices, Divisional Offices and Branch offices suitably.

Secretary

GO TO INDEX

 

FT/24 /2001                                                                                         21-12-2001

Re : Guidelines for Determination of PML

Insurers' attention is invited to the Item 5 of circular No. IRDA/Genl/R1/ dated 15th March 2001 issued by the IRDA, NEW DELHI which is reproduced below:

5. "All Insurers are required to follow the method of determination of PML suggested by the Tariff Advisory Committee in so far as statutory cessions are concerned, even if the insurer chooses to follow a different basis for the purpose of its retention and other reinsurances."

The guidelines enumerated in Annexure 'A' are followed by TAC in determining PML.

Secretary

GO TO INDEX

 

FT/ 25/2001                                                                             Date : 21.12.2001

Re: Consequential Loss (Fire) Tariff -Profit rate for 15 months Indemnity

Period applicable to Petrochemical Tariff

Arising out of a query from an Insurer the Tariff Advisory Committee has decided to provide Profit Rate for 15 months indemnity period for Petrochemical risks. Accordingly, the tables for profit rates for Petrochemical risks under Section II for rating of Consequential Loss (Fire) Tariff stand revised as below:

PROFIT RATES (FOR PETROCHEMICAL RISKS)

Period of Indemnity in months	6 or less	9	12	15	18	24	30	36
LOP Standard Profit Rates as % of Basis rate	225	270	300	290	285	270	255	240

The rate based on loss of profit insurance claims experience for latest five(5) (excluding expiring policy period) years expressed as percentage of basis rate will be as follows :

Period of Indemnity in months	6 or less	9	12	15	18	24	30	36
CLAIMS RATIO
A) Upto 20%	100	108	120	117	114	108	100	100
B) Over 20% upto 50%	112.5	135	150	145	142.5	135	127.5	120
C) Over 50% upto 100%	164	197	219	215	208	197	186	175
D) Over 100% upto 200%	225	270	300	290	285	270	255	240
E) Over 200%	375	450	500	485	475	450	425	400

(Risks which have not completed 5 years of loss of profits insurance will be rated as per this scale but subject to minimum of standard rate. If loss ratio over such shorter period is higher than 200% then category (E) will apply.)

The above decision will effective for all new business and renewals falling due on or after the date hereof.

Insurers are requested to advise their operating offices suitably in this regard.

Secretary

GO TO INDEX

Re: Rating of Compound Walls, Fencing and Crematoriums

The Tariff Advisory Committee has decided to introduce the following new tariff entries in Section V of the AIFT :

Rate Code Description of Risk Rate (Rs. per mille)

Boundary Walls

09 a) Made of combustible materials 2.50

05 b) Others 1.50

04 Electric Crematoriums 1.25

The above decision will be effective for all fresh business and renewals falling due on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

Re: Rating of Health Club, Gymnasium and Swimming Pool under new AIFT

Arising out of queries from Insurers the Tariff Advisory Committee has decided as below :

1) Health Club, Gymnasium and Swimming pool :

It was decided to rate the above occupancies at Re.0.50 per mille under Risk Code 1, Rate Code 01 of Section III of the AIFT.

2) Water Tanks:

It was decided to rate Water Tanks at a rate of Re.1.00 per mille under Section V of AIFT meant for Utilities and Stand-alones. Accordingly, the existing tariff item "Water Treatment Plants" in Section V stands modified as "Water Treatment Plants/Water Tanks"

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

  Excess in Householders and Shopkeepers Package Policy

The Tariff Advisory Committee has decided to make the following changes in the "Excess" provision of the Householders  and Shopkeepers Policy :

	Householders Policy	Shopkeepers Policy
Excess	NIL	a) The first 5% of each and every claimsubject to a minimum of Rs. 10,000/-and maximum of Rs. 25,000/- in respect of each and every loss arising out of "Act of God Perils" such as lightning, STFI, Earthquake, Subsidence & Landslide and Rock slide covered under the policy.
		b) The first Rs. 10,000 for each and every loss arising out of other perils in respect of which the Insured is indemnified by this policy.

The above decision will be effective for all fresh business and renewals falling due on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

 

FT/29 /2001                                                                             Date :21-12-2001

Rating of CNG Compressor installed in Petrol/Diesel Kiosks and in CNG Stations

The Tariff Advisory Committee decided to impose a loading of 10% on the premium rate for the Petro/Diesel Kiosks rateable under Section III of the AIFT where CNG compressors would be installed.

Accordingly the existing tariff entry stands modified as below :

Risk Code	Rate Code	Description of Risk	Building rate %o	Contents rate %o
04	022	Shops dealing in hazardous goods as per the list attached, Arms & Ammunition dealers, Motor vehicle show rooms including sales and service, Petrol /Diesel Kiosks	1.80	3.80
Note : 10% loading is applicable on the rate for presence of CNG installation(s) in Petrol/Diesel Kiosks.

The Committee had also decided to introduce a new tariff entry "Compressor Houses" in Section V of the AIFT to take care of compressors handling air, inert gas and CO₂ and compressors for handling CNG and similar materials as under:

Rate Code	Description of Risk	Rate (Rs. per mille)
	Compressor Houses
05	Compressors handling air, Inert Gas and CO2	1.50
15	Compressor (others)	4.50

The above decision will be effective for all fresh business and renewals falling due on or after the date hereof.

Insurers are requested to inform their operating offices suitably in this regard.

Secretary

GO TO INDEX

 

Corrigendum

1. This has reference to our circular no. TAC/23/2001 dated 21-12-2001. The circular no. may be changed to TAC/7/2001 dated 21-12-2001 instead of TAC/23/2001.

2. The date of the circular FT/22/2001 may be changed to "21-11-2001" instead of "12-11-2001".

Insurers are requested to note the change and inform their Regional Offices, Divisional and Branch offices suitably.

Secretary

GO TO INDEX

---