| Cir No | Date | Subject | Effective Date |
| FT/1/2005 | 4-1-2005 | Accreditation of Professionals/Professional Agencies for certifying F.E.A Installations | |
| FT/2/2005 | 4-3-2005 | Rating of "Loco-Shed" under AIFT | |
| FT/3/2005 | 31-3-2005 | Cloth Processing units situated outside the compounds of Textile mills -Risk Code 053, Rate Code 05, | |
| FT/4/2005 | 31-3-2005 | Section III - Rule 9(b) -Long Term Policy for Dwellings - All India Fire Tariff | |
| FT/5/2005 | 31-3-2005 | Section III of All India Fire Tariff | |
| FT/6/2005 | 30-05-2005 | Inclusion of O&M Contractors as Co-assured under Operational Policies. | |
| FT/7/2005 | 30-05-2005 | Extension of Limit of Sum Insured for Add on Covers - "Omission to Insure additions, alterations or extensions"under AIFT. | |
| FT/8/2005 | 27-09-2005 | Shopkeeper's Comprehensive Insurance Policy | |
| FT/9/2005 | 17-10-2005 | Floater Declaration Policies issued to Central Warehousing/State Warehousing Corporations and Marketing Federations of State Govts. | |
| FT/10/2005 | 30-11-2005 | Consideration of add-on cover `Impact Damage’ as add-on peril for the purpose of `policy rate’ under All India Fire Tariff | |
| FT/11/2005 | 5-12-2005 | Submission of computation of Final Rate - All India Fire Tariff |
Ref.No. FT/ 1/05 January 4, 2005
Re: Accreditation of Professionals/Professional
Agencies for certifying F.E.A Installations
This refers to our circular no.FT/4/2002 dated 10-5-2002 allowing corporate offices of insurance companies to empanel professionals/ professional agencies for certifying F.E.A. Installations subject to complying with the norms stipulated in the said circular.
Insurers are requested to furnish a list of prossionals/professional agencies ( giving names, addresses and other qualifying details) accredited by them as on 31-12-2004.
Secretary
______________________________________________________________
FT/ 2
/2005
Date : 4th March 2005 Re: Rating of "Loco-Shed" under AIFT Arising out of a query in respect of rating of Loco-Sheds, it
has been decided to amend the existing tariff entry "Electric
Sub-Station" appearing under Section V of AIFT to read as under:
|
Risk Code |
Rate Code |
Description of Risk |
Rate(Re.per mille) |
|
9 |
05 |
Electric Sub-Stations, Loco Sheds |
1.50 |
Insurers are requested to advise their operating offices suitably.
Secretary
FT/ 3/2005 Date : 31st March 2005
Re: Cloth Processing units situated outside the compounds of Textile mills -
Risk Code 053, Rate Code 05,
Section IV of AIFT
Arising out of a representation from an insurer, for the sake of greater clarity, it has been decided to modify the above mentioned tariff entry to read as under:
| Risk Code | Rate Code | Description of Risk | Rate (Rs.per mille) |
| 053 | 05 | (i) Cloth Processing Units situated outside
the complex/compound of the textile mills
and (ii) Cloth processing units which are not owned by the textile mills but are situated within the textile mills complex/compound. |
1.75
|
Insurers are requested to advise their operating offices suitably.
Secretary
FT/ 4/2005 Date : 31st March 2005
Re: Section III - Rule 9(b) -Long Term Policy for Dwellings - All India Fire Tariff
Arising out of requests received from insurers it has been decided to modify with immediate effect rule no.9(b) of Section III of AIFT in respect of 'Long Term Policy for Dwellings'to read as under:
Rule 9(b): Refund on cancellation of Long term Policy at the request of the insured may be allowed subject to the following conditions:
Insurers are requested to advise their operating offices suitably.
Secretary
FT/5 /2005 Date : 31st March 2005
Re: Section III of All India Fire Tariff
Arising out of a representation from an insurer it has been decided to insert two notes under the tariff item "Dwellings, Places of worships,......"(Risk Code 1, Rate Code 01) providing rates for "Data Processing/Call Centres/Business Process Outsourcing Centres". The modified tariff entry shall read as under:
| Risk Code | Rate Code | Description | Building rate
per mille |
Contents rate
per mille |
| 1 | 01 | Dwellings, Places of worships,
Libraries, Museums, Schools, Colleges, Hospitals including X-ray and other
Diagnostic clinics, Office premises, Meeting Rooms, Auditoriums,
Planetarium, Mess Houses, Clubs, Marriage Halls, Showrooms and display
centres where goods are kept for display but no sales are carried out.
Eductional and Research Institutes imparting training in various crafts,
Lodging/Boarding Houses,Cycle Sheds Dish Antenna and Indoor stadiums
Note1:Data Processing/Call Centres/Business Process Outsourcing Centres may be covered by loading the above rates by 50% subject to the warranty that no software development activity is carried on within the premises.
Note 2: In case software development activity is carried on within the premises, the risks shall be rated under the tariff entry "Electronic Software Parks" (Risk Code 073/Rate Code 04) of Section IV of the AIFT. |
0.50 | 0.50 |
Insurers are requested to advise their operating offices suitably in this regard.
Secretary
FT/ 6 /2005 30th May 2005
Re : Inclusion of O&M Contractors as Co-assured under Operational Policies.
Arising out of a query from an insurer as to whether the name of the O&M contractors can be included as co-assured under operational policies (viz. IAR/FIRE /MB/etc.), it is clarified that:
1. O & M contractors should not be included as a co-assured under operational policies to ensure that subrogation rights of the owners / insurers under the operational policies are protected.
2. The legal liablity of the O & M contractors for acts, errors and omissions can be separately covered by a liability policy.
Insurers are requested to advise their operating offices suitably.
Secretary
_______________________________________________________
FT/ 7 /2005 30th May 2005
Re : Extension of Limit of Sum Insured for Add on Covers - "Omission to Insure additions, alterations or extensions"under AIFT.
Arising out of a request received from an insurer for enhancing the sum insured under "Omission to Insure additions, alterations or extensions" clause under AIFT from the present limit of 5% of BPM sum insured to 10%, it has been decided that the present limit of 5% shall be continued on account of the following reasons:
(a) 5% of BPM sum insured is adequate to take care of omission on the part of insured to insure any property which may be acquired during the year.
(b) Any increase in the percentage stipulated in the tariff would lead to the tendency of not insuring new property at the appropriate time.
Insurers are requested to advise their operating offices suitably.