INTRODUCITON:
This business is not to be transacted freely. Only where there is a connection involved this policy can be issued. Prior approval however, should be obtained from Regional Office for each and every proposal.
BUSINESS:
Traditional Agency Commission – 5%
RATE:
All Risks of loss of or damage to the guns 1.15%
Premium to be charged on declared value
of Gun(s).
Public Liability Risks arising out of use
of Gun
AOA/AOY Rs. 50,000/- Rs.15/-
ALA/AOY Rs. 1,00,000/- Rs.25/-
Loss of or damage to insured’s property and
contents arising out of use Gun
AOA/AOY Rs. 5,000/- Rs.10/-
If WC cove is to be granted for benefits
as per WC Act then a separate WC policy
has to be issued as per WC Tariff.
UNDERWRITING LIMITS:
B.O. D.O. R.O. (50 lacs – Special Contingency)
Each and every proposal should be referred to Regional Office for approval of acceptance alongwith details of other premium received from the proposer and also a report regarding the proposer and also a report regarding the proposer’s moral hazard.