Top List Marine Insurance Companies in india-Introduction, Types, Features

Top List Marine Insurance Companies in india-Introduction, Types, Features:- 

The environment of general insurance documents that have utilize documents utilize in the Insurance sector today. We go to main product products of insurance all the policies and products that available after Session Court of under section will be on fire and marine insurance and subsequently we will deal with motor accident and liability, when you look at fire insurance you have to remember that this is because of income tax department in general insurance that are divided into five Marine and masale alphanumeric Kanauji fire discovered.

So the original insurance for fire insurance only with lightning due to circumstances insurance industry number of articles the standard fire special perils policy Empire came because the original Policy was fire that were required to be taken I don't help text Pay showroom profile Torrent what is important in fire insurance the address of the property by which we wish to install has to be clearly mentioned so that at any point of time anyone, visiting can check and verify that the physical address of the property in short which is the most important factor of fire service properties that iron III can be divided into Pikachu and bowling action normally used very short terms for CA.

Top List Marine Insurance Companies in india-Introduction, Types, Features

If you look at P stands for building values of the building for terms of installed can be inspired plant and machinery,  20 factories will come across this life behind sorry factory could have a building we could have plant and machinery other action and the most common factor music furniture pictures properties like computers in air conditioners and other aspects which are normally not part of the business profession.

If you are looking at an office and you have other sites like computer equipment furniture pictures fitting and other thing stationeries acceptor fixed assets know why we specify you will know because of certain factors in fire insurance diesel long term assets they will remain for a long period of time. So valuations will change over period of time the most common talk on raw materials in while having process they are known as talking process readymade product for the finished goods stock could be considered, normally what we would install raw material and finished goods accepted talking process because that is as it is going to the process that that material for moment of time because it is a small component of the total value of B2 Apple par Reith what do we cover look at now the fire policy what do we say it is we are not covering everything but we are covering 513 panel like fire the most important right and psychosocial Parul recently call rsmd how much will produce lightning Tempest flood inundation campus planet innovation apart from that we use in Sic Fib cyclone this includes cyclone typhoon what is landslide answer these are what we call natural perils types of perils explosion and employee picture of very important factor.

We have to remember non exclusion and inclusion of all types of equipment other than boilers for commercial purposes factory which are used in factories and press. I am not part of this cover for that explosion has to be taken separately overflowing of water tanks and pipes aircraft to any aerial device dropped from above that is small little craft that is going in and it catches fire dogs playing in open areas in Madhya Pradesh and grasslands who involved in summer months sometimes the great glass catches fire from the kids are types of wood fire outside very cute animals property causing an impact damage to crop give up film class 11^th rules that of forming part of the fire insurance policy and they are taken for the purpose of the location based address and the values for which we have taken insurance every insurance policy urgent call please look to see at a large list to be installed for Major losses Jansatta standard review policy different purpose comparison Excel from every last some amount will not be payable 5% of the claim amount with a minimum of 25000 10,000 depending on the type of property nuclear responsible for worldwide.

We do not cover nucleus cover that occurred of land or not online when you move across countries the possibility of wall to wall is not a location based earthquake and terrorism are also not covered but these can be covered at extra premium termination pollution losses are not covered contamination because of something getting destroyed or damaged and causing contamination in the air area is not covered because people fall under live see but if the property is damage as a result of that discovered an explosive back covers for a small amount of 10000 next flight works of Arts require prior permission because they fall under certain regulations of the inclusive and exclusive will result in a greater risk for these values is an explosive need to be informed.

If you want specific cover for Cool pad foreigners about accidental fire that start not cover electrical fires, when we say do not cover electrical fires means song Sakkara katti covered with the result in fire if a flame stuck there after all the property that is destroyed by the plane would be covered except item for which where the short circuit is originated in cold storages some damn it from where the refrigeration system and for the temperature rises and cold storage are destroyed sammilani college because of delay of ecosystem properties damaged material lines are not covered Apollo TNPSC nailing document transfer policy.

So when we look at it now policyholder coverage the perils would be exclusions are the exceptions and then we come to the condition every insurance policy has certain conditions first Akbarpur train status all detail from its description on the part of a customer Passion of the part of the customer why it is important.

It is not it will be a void contract is Amit take it could be considered but it will be available for the party between princess voidable contract where the party was suffering as a result of the consequences of a bit why the insurance this is a very important factor Cause, when we install we look at the risk from the point of view of what is covered what is the commonality of the tower if I have a premises which I am using open office convert into a Go down storage player play the list has become greater this one important cities and it has to be informed to the insurance company otherwise the policy will be every police every contract has a condition of calculation that is either party can cancel at any point of time calculation on the part of the insurance company will result in a proportionate return of premium part of the customer or the insured will result in a short period rate of 3 member charge and refund there after allowed fraud volocopter in a claim turbulent information provided in this contract comes to an end insurance.

Company is anything once product detected the condition of average between and other terms used in insurance under insurance open in short for a letter values and it should have been and so the customer has to be the part of proportional part of the Lost this is known as the condition of average if you will see a Textbook you will see the formula verified the sum insured upon the total the total value of the property divided into divided by the total value of property only of the Lost you will get condition is contribution 11 in policy has been taken for the same property for the same fire insurance policies for the same property will me that both policies will show in any loss in the same proportion that is contribution obligation aggregation is the bright of the pain to recover from somebody who was negative residential complex is doing some repaired and as a result of the repaired there is damage to the your installed property there is a fire.

The Fire spread to the Egyptian flat which belongs to you in that case you have a right to file a case against your neighbors because it was but then that cause damage in which case they are required to go to a court of law and play insurance you came from the insurance company in which case the insurance company will recover with 30 your lost and then we'll go ahead and came from the from your neighbor for causing.

The Lost maintenance policy means musically after blocked so that that the right of the insurance company is protected for obtaining legal record arbitration is used in the policy when the claim amount is in dispute Lindt Chocolate Lane but for a lesser amount a customer is not happy in install is not happy they want that believe that a lot of different figures in that case arbitration comes into the picture very important notice that all information about the risk all communication with regard to the policy of plane was always be in writing about information should always be followed by a written liquid common condition.

You will find in every insurance policy not really and fire for this week a little more detail on this coming specific to a fire insurance policy there has been a fall of the building Sridhar @ 3 block N1 block whatever reason is mean of the resulting due to any of the currently have installed it majors because the building is also a part of the building Has Fallen which means the rest of the buildings are become weak so insurance company has to be informed is very important condition and it has to be informed by the to the insurance company Corporation can take possession of a damaged property.

If they so Desire is distilled the customer is not protecting the risk and ensuring the risk is not other lock not activated the insurance company may take possession of the property till they finally decide about the second insurance company also has the right to reinstate or replace the property of a Rupee value of the property automatic reinstatement of sum insured take place the value for insurance why the amount of the law taken place the very next day the value of. Torrent is reduced by way to the problem is provisional law provide for immediate automatic reinstatement back to original some an example of property is in short for 10 crores because is reported,  please be after the lost the balance sum insured under the policy which can reduce 27 crores that is stick but in fire insurance Tamil short history Jaitley in hill station to Tank Road the insurance company at the time of settlement of the claim will charge a premium for the 3 crores or whatever is the loss assets for the period from the date of last till the expiry of the policy in a PRO rate of proportionate basis and green state the sum insured store in the event of a subsequent loss reinsurance company the installed as the value as original availability husband feel the main fire policy creative cloud vs. tinder is the condition advanced country of world in the fire policy minimum cover to cover architect fees and Debris removal after fire any of the Lotus that produce that cause loss reaction they will be a lot of debris which has to be removed.

We cannot just throw it on the roadside it has to be taken to a particular dumping yard to the cost of cleaning and removing is also payable to some extent and additional cover is available if we want more than that one Architects 30 is payable up to 3% of the same amount in a normal policy if you require more than that that is equal into 7 and a half percent of a common salt and I don't remember station similarly for debris removal recovery is free inbuilt cover of 1% of claim amount the client can take an add-on for higher amount speculation means you know inflation and cost are rising every year for property that is required for X value today tomorrow to repair it would cost more than what it is today because of the cost increase for material escalation is an add-on cover available lot of friend a landlord was given property on rent.

If the property is damage in a fire for the period till he brings the property UPTU normal again losing his bank so he can ensure that impediment deeper coverages in iPhone video screenshot damage can be covered by this add on combustion is required and taken for properties which have an inherent in herent built in chemical reaction which results in the property getting done for example School it into it can get overheated and Burn within itself without creating a plane similarly oil cake in perfect clock which are subject to internal storage temperature reduction change in temperature top flying refrigerated deprecated systems would be not able to hear the net on available for that temporary removal of stocks protein powder location based policy that covers only at that location but paint for processing at another location to be good cover the stock for that at that particular location.

I buy an add on taken by near in forest areas which property is being used for near forest Areas where is subject to certain condition 13 businesses startup expenses would be required in the event of a loss to restart the additional cost startup are required for this could be taken that so add on be available under a fire policy now we come to the types of policies that we have a normal fire policy apologies by default a depreciated value policy for what we call market value when we say market value with the new cost of that equal to the cost of repair replacement the number of years for which has been used that is the depreciated viruses item statement value can be taken for optic started the DNA that is we will not apply deputation on the value this is known as an hour ID policy doctor subject to calculation in value depending on demand and supply instead of having a pica from before we can go for a declaration policy because doing the course of the Year the value of stock line in storage may differ approximate monthly destination is given.

Tamil what is decided and there after a monthly declaration of top flying in the previous one Insurance Company department of industries are declaration policy paytm.com store the number of location where the customer cannot at any point of time given what value is lying at least location and it is given sum assured that these are the locations within which the total value of stock daily life give me the basic fire policy for the public policy for license 8 a declaration policy look at another type of policy call industrial all risk for policies that the property is more than 50 crores at any location military power policy that include all the federal but it covers and additional cover burglary unit personal break down music to increase individual policies in subsequent lectures.

So we will not go into that in detail but just to give you an idea machinery breakdown then that could be business interruption because of fire that is impact on the business expenses in profit of the company because of a tire business interruption for fire in an optional cover of business introduction for machinery breakdown Gionee of to recover its emotional breakdown otherwise fire for all the properties machinery breakdown as well as electronic equipment and fire business introduction traditional polity we will look at and that is call fire loss of profit period.

We have business interruption for fire with painting part of a farmer on the profit of a company on the gross profit of a company Shami Kabab what we call fixed cost of exercises that have it should be impacted and reduced because of respect we can we can finish a fire policy marine insurance sorry waste your mind something really what we find in marine insurance it is governed by law of the marine insurance act 19 writing what is writing about the sorry what is vital divide marine insurance into Insurance of cargo infertile meaning Mythili bodybuilders fighting describe can all be covered under the Marine health insurance for various types of high quality are available create the shipping company of the ship owner.

It's taking cargo where the plate would be paid only on delivery to the customer that also can be insured under marine insurance it is normally given as a friend cover under the health policy Logan very important factor we have to remember that is with relate to insurable interest in Marine we have been talk in a principles of insurance that marine insurance interest is required at the time of law what about multi cuisine who is right time to write to take insurance when week but when the Lost actors who will take who is the insured who is entitled to compensation of reimbursement of law important factor for that will interest build in cargo insurance is on the contract of sale type of train that via.com owner of buyers and seller and buyer have enter in to decide the insurable interest in Kota tablet means that the buyer will take delivery from the car with hello manufacturing site where out and bio data will take insurance and arrange colour does not need to take the cargo insurance hello honey taken and how did responsibility to put on the cargo and deliver it on to the salary for the transit from the colour arrange for the transit from the warehouse to the fourth wall cladding line report and until it is loaded on the ship that is known as a hobby of fiancé skin white colour from railway route to the ship because the colour is responsible.

If any lock takes place in this course available have to INR will open the lock there optical that's why is responsibility FR additives used your to the cell beauty is only up to f o b hello jaldi to separate insurance apply for B. And buyer from f o b. And 2 Final Destination top insurance pay for the buyer has entered into the contact with the seller to arrange for insurance up to the point where the buyer required define aged insurance has to be taken by the seller it will transfer automatically to the buyer in the course of the responsibility change very important points to Remember will interest in Marine song most of you will be coming across Marine cargo insurance for Samaveli of the insurance business polity body there are two types of policy wording what is port 80 cargo clauses of ICC aptitude time for the instituteof London underwriters International the interpretation and understanding is common throughout the world the world follows the ICC club ICT Academy in Beijing August treadmill or London or in Africa will immediately understand what meaning care to be used in export import we use the class all ICC.

Our own country we have closest which was defined and drafted by the tariff advisory committee and these are known as inland transit clauses of ITC importantly when we talk of export import Trade. We also include within that Insurance of Institute cargo clauses the local transport can be used if I am exporting from Surat who is coming to Mumbai Airport from Surat and then from to Mumbai port.

It is going to New York I can take a nice 50 floor covering Road transit from Surat to Mumbai and thereafter from Mumbai to New York by see it will be available as a continuation cover define installing from Mumbai to Calcutta then it will be a local transit and it will be Mumbai to Kolkata by road Hotel ITC cargo insurance correct the types of policies specific policy Chicago as and when it goes I can upload to Insurance Company foreign showroom open particular plant Abu Public place to which place I cannot for the cover and give insurance will be given to need for that cargo ovarian which are the destination is required for single policy for one single consignment 25 Businessman and exporter who is dealing with the number of clients across the world and only marriage day around 50 or more Abu is being shipped to all across the world electricity difficult for me to keep on sending of person go and get the same sound for this cargo going out for that person will be required blessing to the insurance company to take insurance by LIC insurance because insurance has to be taken before the cargo instead of that I go for what is known as an open policy open policy me.

When the meet I use the word policy means it's a legally enforceable document open cover it is an agreement impending cargo I was entered into an agreement of chapter deposit with the insurance company and I will be declared in the car go away from God the date before ever leave and insurance company will acknowledge an accepted I have kept in deposit slip, Centre cargo my deposit will be deducted.

I can spend along with my statement in additional premium so that there is always function premium to pay for acquaintances an open policy means an open for that we have decided or up to a date on which we have decided what is effective open policies we will be Din as a customer is declaring the cargo as it goes he will find the list of all cargo went to previous play the previous 15 days allowed by the insurance company policy measures have the broad outline and on that basis insurance company will be giving the four type of policy is for import custom duty may be applied on the car go after its country duty insurance and it is normally taken for imported car go to cover the value of duty because 12 ka duty is paid the value of the cargo has gone up and simple standard insurance policy would not then take for the duty cover is taken to cover the duty that has been charged the value of the but it must be taken before the cargo reaches the port the destination port entry point in the country increase volume with and also called as profit policy country because they stand to benefit is there differential is good table on some value.

But now it’s not property is required before the cancel it they have or because they have entered into a contract and now they cannot meet the contract they have lost the value that they would have called food for this purpose and increase value can be taken again this must always be taken in a drone Hindi look at 8 o'clock there are three types of turbochargers winning shot of whiskey which is the minimum cover available for Abu be sent by it if you feel very most of them are resulting because of people that is standing ground is sinking capsizing solution of contact with external object other than water discharge of cargo at port of distress show you that we don't go cover at the short period of time between a location within the country by Railway road fire explosion derailment overturning Sudigadu pedal for cargo sent by the minimum cover internal average you know very important.

We have already seen general average salary charges in Marine cargo insurance refers to ship coming to the assistance of ownership meaning of linked we need to take tea after using the closest airport to those are caused by which causes pollution air pollution liability is went there has been a collision between two vessels and as a result both are liable for the damage of destruction that may take place cargo policies by sea pip about what is covered and the pea and it goes want to cover additional pedals of earthquake volcanic eruption lightning washing overboard entry of a river or Lake water into the vessel the craft Alvin and the total Lok Sabah package while loading unloading quotation block craft with me only ship palpitation he is a little boy recover there are many add on parents that can be taken with ICC ODI. It covers all police other than excluded from normally everyone talks of it as a all risk policy but as I told you earlier always does not been always it means with other than excluded where is an additional cover it go because they are talking of crossing oceans crossing countries October may be affected by war in a cargo may be affected by SRCC ride slow motion going foreign export import Trade these are the standard exclusions that we come across in Marine cargo insurance willful misconduct delivery types of any person what we call married to climate this is not covered under PNB.

It is covered under a Anjali are not covered ordinary leakage loss of weight volume loss in men cargo is being taken dinner the leakage of something is killing over these are called ordinary little and they are not payable tutorials on financial difficulties and they do not complete the service did you not complete the void and as a result cargoes loss insurance company is not life Nexus 5 price or not covered.

I don't tell you unpacking is an inadequate also not cover Sofia we have seen the main coverage of operative clause of a Marine cargo policy including conclusion that is one important element now and that's the duration cover marine insurance is warehouse to warehouse Rohini not ask for Warehouse Contract which will decide whether it is actually where out to get out. Terminating earlier or does not even take into force cargo reaches the final plot not be delivered to the destiny didn't 15 days if it is by ship after arrival of the aircraft Reno road in 57 days after the will the railway line enter property of the traffic enters the city of definition auto policy what you mean naval plant Institute, closer you look at that inland problem please power and lightning only and that is only wild cargo is on both the 6 minute it is it is unloaded from the track of the railway riding the cover come and the cover is suspended is what is the normal policy today week in the market we called as basic cover in covers the height 56 + breakage of bridges solution of 28 over training and development is a game and always subject to exclusion do what is an what is not available find LAN cargo because it is within the country and all the extrusions that used for in Institute cargo clauses appear as exclusions in the ICC India ITC. At Marine came again Tabu the types of plains of total of which means total destruction of the cargo the cargo does not exhibit is destroyed it is burnt oil is totally unusable Chicago it is too costly to remove it from Arabic Has Fallen so it is a total loss it is treated as a total loss Delhi live it is everybody everyday nature about marine insurance means law Clock Award has not replied to ensure that the voice is completed successfully is a General average everybody says that lost what is leverage is Parcel Office Tagore is to be taken from Mumbai to New York became who is food stuck and because there be the delay of dipole Chitty urinating before New York at the ship captain find the discover is damaged and Aiden instead of carry his father what will cause damage to other cargo also he informed that on earth atmosphere disturbing the sky go because it is the bad condition hidden by means of auction this is known as private law insurance company pays the loss of the difference between Salvage earned of conductor and the actual value in short labor beanstalk minimization to protect the cargo Rita Ora when show for the damaged does not play take place charges activities option fees and other the types of losses you will come across in marine insurance.

We have now been a picture of marine cargo revisions look one more slide and that is Marina Tarun Sagar to you it is Insurance of 7 pay insurance subject read the word close again Institute time close again a London-based plot turn to when we ensure should be used International standard clothes Ranbir photoshoot for the hell and all the machinery that is there for the Ship including all machinery including all stock that would be required for the voice it could be specified in the specified service policy it may be for one single voice I could be for a period of time letters at 12 month period or 6 month period has decided replay what are subject of fire and marine insurance.