| SR.NO. | CIRCULAR NO. | DATE OF CIRCULAR | EFFECTIVE DATE | SUBJECT |
| 1 | Mot/1/2004 | 3/02/04 | 3/02/04 | Amendments to India Motor Tariff effective from 1.7.2002 |
| 2 | IMT/02/2004 | 24/11/2004 | - | Amendments to India Motor Tariff effective from 1.7.2002 |
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Ref.No.Mot/1/2004 3rd February, 2004
Re: Amendments to India Motor Tariff effective from 1.7.2002
Insurers are advised to incorporate the following amendments in the revised India Motor Tariff :
1. SECTION 1 General Regulations (G.R.)
GR.37. Cover for vehicles imported without customs duty
The GR.37 is amended to read as under:
"G.R.37. Foreign made vehicles belonging to Embassies, High Commission or Consulates in India
Policies issued to cover imported vehicles belonging to Embassies Consulates and such other Diplomatic
Missions where the 'import duty' element is not included in the IDV the premium chargeable
under section -1 (loss of or damage to the
vehicle insured) of the policy shall be loaded by 30%.
Endosement IMT-19 is to be used."
2. SECTION 4 Tariff for Commercial Vehicles
Tariff for Miscellaneous and Special Type of vehicles
(Class -D)
The following item is to be included in the "List of Miscellaneous and Special types of vehicles" on page 79 of the Tariff:
59. Self-propelled Combine Harvester
3. SECTION 4 Tariff for Commercial Vehicles
Regualtion 11 LIMITATION OF GEOGRAPHICAL
AREA
The existing item 11b(i)on page 51 of the tariff
pertaining to Motor Trade Policies should be amended to read as under:
Section II-1(i) - India
4. SECTION 4 Tariff for Commercial Vehicles
Tariff for Motor Trade - Road Transit Risks Only
(Class- E)
The following provision to be incorporated reading as N.B. 1 after existing N.B. of rule 6 on page 82-83
of the tariff:
5. SECTION 4 Tariff for Commercial Vehicles
Tariff for Motor Trade - Road Risk only (Class-F)
Insurers are requested to inform their operating offices suitably.
Secretary
Ref: No. IMT/02/2004 24th November, 2004
Re: Amendments to India Motor Tariff effective from 1.7.2002
I. Reliability Trial Rating - Cars & Motorised Two Wheelers.
Insurers attention is drawn to item (v) under Extra Benefits of Tariff for Private Car ( (Section - 2 - Page 35) and Tariff for Motorised Two Wheelers( Section - 3 - Page 44) wherein provision has been made to refer such matter to TAC with appropriate details to cover reliability trials conducted in India by manufacturers of vehicles in India.
Insurers are advised to incorporate the following provisions in place of the existing one.
" Extra Benefits - (v) Reliability trials conducted in India
Policies may be extended to use the vehicle for conducting reliability trial by loading 300% on both Own Damage and Liability Only premiums at short period rates for the duration of the reliability trial with an excess of 10% of the claim amount per accident under own damage claims only, but with the exclusion of any cover in respect of either the owner-driver, driver, rider and / or passengers carried in the vehicle"
II. Motor Trade Road Risk --- Rates for covering Trade Certificates exceeding 15
It has been decided to include provision for additional Driver / Trade Certificate exceeding 15 in the rating table under Section 4 - Motor Trade Road Risk Only (Class - F -- Page 86 ) as shown below:-
|
Named Driver / Trade Certificate
|
Own Damage Premium for losses upto 25,000 |
Liability Only Premium |
| For additional Driver / Certificate exceeding 15 | Rs. 70/- per Driver or Trade Certificate | Rs. 120/- per Driver or Trade Certificate |
Insurers are requested to inform their operating offices suitably.
Secretary