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ANATOMY OF SHIP, MANAGEMENT OF CLAIMS & UNDERWRITING 1 ANATOMY OF SHIP, MANAGEMENT OF CLAIMS & UNDERWRITING 1

AFTER GOOD BREAKFAST OR LUNCH YOU ARE AT LIBERTY TO SLEEP BUT DO NOT AFTER GOOD BREAKFAST OR LUNCH YOU ARE AT LIBERTY TO SLEEP BUT DO NOT SNORE YOU MAY DISTURB YOUR NEIGHBOUR WHO IS ALSO SLEEPING AND YOU WILL ALSO DISTURB ME AS I AM IN HABIT OF SLEEPING DURING LONG PAUSE I TAKE DURING LECTURE LIKE OUR P. M 2

COFFERDAM BULKHEADS MAIN DECK HOLDS ENGINE ROOM DOUBLE BOTTOM TANKS FOREPEAK TANK TRANSOCEAN MARINE COFFERDAM BULKHEADS MAIN DECK HOLDS ENGINE ROOM DOUBLE BOTTOM TANKS FOREPEAK TANK TRANSOCEAN MARINE AND GENERAL SURVEY AGENCIES 3

SUPERSTRUCTURE HATCHCOVERS CRANES TRANSOCEAN MARINE AND GENERAL SURVEY AGENCIES 4 SUPERSTRUCTURE HATCHCOVERS CRANES TRANSOCEAN MARINE AND GENERAL SURVEY AGENCIES 4

FORE PEAK RUDDER PROPELLER GEARBOX MAIN ENGINE TRANSOCEAN MARINE AND GENERAL SURVEY AGENCIES 5 FORE PEAK RUDDER PROPELLER GEARBOX MAIN ENGINE TRANSOCEAN MARINE AND GENERAL SURVEY AGENCIES 5

6 6

A. M. GAWARIKAR 7 A. M. GAWARIKAR 7

TYPES OF SHIP FISHING VESSEL CABLE SHIP DREDGERS SHIPS WHICH CAN CARRY THINGS PASSENGER TYPES OF SHIP FISHING VESSEL CABLE SHIP DREDGERS SHIPS WHICH CAN CARRY THINGS PASSENGER UNIT LOAD SHORT DISTANCE (Ferries) CONTAINER HYDROFOILS SURVEY SHIP ICE BREKERS TUGS GENERAL CARGO LONG DISTANCE HOVER CRAFTS SHIPS WHICH KEEP THE SEA LANE OPEN RESEARCH SHIP BARGE CARRYING SHIP RO-RO BREAK BULK TANKER CRUDE CARRIERS REFINED PRODUCT CARRIERS INER GAS CARRIER LNG/ LPG DRY TIMBER COMBINATION 0/ 0 OBO OCO SPECIALIST CHEMICAL BEER WINE

- Around 1900 passenger shipping was expanding / big vessels with many facilities - - Around 1900 passenger shipping was expanding / big vessels with many facilities - After 1960 s due to airlines passenger ships declined. - Cruise ship arose due to demand of Holidays at sea. Ferries carry passengers, cars, coaches trucks on short haul routes around the coastlines. - Hovercraft has the mechanism which lift themselves above the water surface thus avoiding resistance of sea passage, it moves fast and gives smoother ride. ‘Hover’ means to remain poised over one spot but the craft operates by having air forced down beneath the craft. This causes it to rise up above the surface of the water and support it upon a cushion of air /fastest thing at sea. ACV- Air cushion vehicle recent term for hovercraft. - Hydrofoils work like the wings of an aircraft. Cargo Ships : Liner - operates on fixed schedule. Tramp - unless chartered by liner company, dose not operate on fixed schedule Bulk carrier - range from small coastal craft to ships over 150000 tonner dead weight capacity. Different types of Bulk carriers Panamax - carry maximum cargo whilst transiting Panama canal Cape Size - Large gearless, when fully loaded unable to transit through Suez canal or Panama they via cape of Good Hope.

General cargo ship- Twindeckers, having compartments and tanks depending upon type of cargo. Refrigerated General cargo ship- Twindeckers, having compartments and tanks depending upon type of cargo. Refrigerated Ship – 1. with Insulators /refrigerating storage capacity for perishable cargoes like meat, fish, poultry, eggs, vegetables, fruits, dairy products. 2. also known as Reefer ships. Container Ship - ISO (International Standard Organisation)compliance RO/RO ship - Roll on/Role off ships for short routes with self sustaining ability to load and discharge cargo itself Tankers - Carry liquid cargo Different types - Parcel Tanker, Acid carriers, Handy size Tankers, Panamax C, Medium size - very large(VLCC), ultra large(ULCC) -Crude carriers. Combination carriers - O/O - Ore & oil O/B/O - Ore, Bulk or Oil PROBO - OBO with ability to carry Petroleum Product such as gas oil

Gas Carriers 1. LPG – Propane Butane propylene butylene unhydrous Ammonia. 2. LNG - Gas Carriers 1. LPG – Propane Butane propylene butylene unhydrous Ammonia. 2. LNG - Industrial / Domestic Flicks 3. TANKER FISHING VESSELS Deep Sea Fishing Trawlers Fish Factory Vessel - Fish catch is cleaned, Vessel & canned in the factory ship. Whale ship. Ships to catch whales. Cable ships - Laying off cable for communication (first cable ship -Great Easter in 1858) Dredgers - Bucket Dredgers - for digging material Grab Dredgers - employ Grab Crane to remove mud Dipper Dredgers Suction Dredgers- sand, soft/loose material removal. Rock Breaker Dregers Used for - 1) To develop and maintain greater water depth than naturally exists. 2) To raise the level of low land 3) To construct dams & dykes (wall to prevent flooding) 4) To recover subaqueous deposits. Tugs Oceangoing and salvage coastal Harbour & River coastal

BASICALLY TWO TYPES OF COVERS ARE AVAILABLE - TIME - VOYAGE BASICALLY TWO TYPES OF COVERS ARE AVAILABLE - TIME - VOYAGE

HULL INSURANCE IN THE INDIAN MARKET - HULL INSURANCE DEALS WITH RISKS RELATING TO HULL INSURANCE IN THE INDIAN MARKET - HULL INSURANCE DEALS WITH RISKS RELATING TO SMALLER OR BIGGER VESSELS. - VARIOUS TYPES OF COVERS AVAILABLE FOR PROTECTION OF SHIP OWNERS ARE AS UNDER : A. HULL & MACHINERY INSURANCE B. FREIGHT INSURANCE C. DISBURSEMENT & INCREASED VALUE INSURANCE D. PREMIUM REDUCING INSURANCE E. PROTECTION & INDEMNITY LIABILITY INSURANCE IN RESPECT OF COASTAL VESSELS F. SHIP REPAIRES’ LIABILITY G. TIME CHARTERER’S LIABILITY H. BUILDER’S RISKS INSURANCE I. LAST VOYAGE/FUNERAL VOYAGE J. SHIP BREAKING INSURANCE K. WAR RISK INSURANCE L. S. R. C. C. INSURANCE M. LOADING DISCHARGING OPERATION AT SEA. N. BRACHES OF WARRANTIES O. SINGLE VOYAGES INSURERS ARE PROVIDED WITH GUIDELINE RATES.

RATES WERE PROVIDED IN THE SPECIFIC Guidlines INLAND VESSELS SAILING VESSELS FISHING VESSELS CHARTERERS’ RATES WERE PROVIDED IN THE SPECIFIC Guidlines INLAND VESSELS SAILING VESSELS FISHING VESSELS CHARTERERS’ LIABILITY SHIP REPAIRERS’ LIABILITIES BUILDER’S RISK INSURANCE

HULL UNDERWRITING CONSIDERATIONS SHIP DESCRIPTION TRADING AREA TRADING PATTERN SIZE OF FLEET CARGO CARRIED HULL UNDERWRITING CONSIDERATIONS SHIP DESCRIPTION TRADING AREA TRADING PATTERN SIZE OF FLEET CARGO CARRIED PAST EXPERIENCE OF MANAGEMENT SIZE OF SHIP CONDITIONS OF INSURANCE AGE AND INSURED VALUE DEDUCTIBLE CLASS AND FLAG ANY OTHER INFORMATION MATERIAL TO THE RISK ISM CODE SEAWORTHINESS BUILDERS’ CERTIFICATE CERTIFYING THE VALUATION & SUCCESSFUL TRIAL TRIP GENERAL CONDITION CUM VALUATION CERTIFICATE BY COMPETENT MARINE HULL SURVEYOR DULY CATEGORISED BY IRDA AS ‘A’ AGREEMENTS SUCH AS BBC etc. If any

RATING FACTORS TYPE OF VESSEL TANKER, DRY CARGO, PASSENGER BULK CARRIER, TUGS VALUE HIGHER RATING FACTORS TYPE OF VESSEL TANKER, DRY CARGO, PASSENGER BULK CARRIER, TUGS VALUE HIGHER THE VALUE - LOWER THE RATE LOWER THE VALUE - HIGHER THE RATE AGE LOWER THE AGE - LOWER THE RATE HIGHER THE AGE - HIGHER THE RATE

RATING FACTORS GROSS REGISTERED TONNAGE DEAD WEIGHT TONNAGE TRADING LIMITS CLASSIFICATION MANAGEMENT EXPERIENCE CONDITIONS RATING FACTORS GROSS REGISTERED TONNAGE DEAD WEIGHT TONNAGE TRADING LIMITS CLASSIFICATION MANAGEMENT EXPERIENCE CONDITIONS OF COVER

TONNAGE • DISPLACEMENT : - This is the actual weight of the vessel measured TONNAGE • DISPLACEMENT : - This is the actual weight of the vessel measured by the weight in tones of water she displaces when loaded with the fuel, water, stores and with crew on board. • Gross Tonnage : - Measure of the total internal volume of the ship, with certain exception such as radio room, wheel house, chartroom etc. • Net Register Tonnage : - This represents the earning capacity of a merchant/passenger ship. It is a measure in tones of cubic capacity of the space which can be used for carrying passengers and cargo • Dead weight : - Total carrying capacity of the vessel including cargo, crew machine, passenger, stores, fuel, water when loaded down to the waterline level. • Water is 800 times as dense as air. It is buoyant fluid substance of water that supports the weight of a ship while allowing it to move.

CLASUES - HULL POLICIES ARE SUBJECT TO STANDARD CLAUSES PUBLISHED BY INSTITUTE OF LONDON CLASUES - HULL POLICIES ARE SUBJECT TO STANDARD CLAUSES PUBLISHED BY INSTITUTE OF LONDON UNDERWRITERS THERE CLAUSESARE DRAFTED BY LONDAN MARKET TECHNICAL & CLAUSES COMMITTEE. ACCEPTED WORLD-WIDE PROVIDES TERMS, CONDITIONS, EXCLUSIONS, PERILS COVERED UNDER THE POLICY.

STANDARD CLAUSES 1) INSTITUTE TIME CLAUSES HULLS DT. 1 -10 -83. - 2) ALL STANDARD CLAUSES 1) INSTITUTE TIME CLAUSES HULLS DT. 1 -10 -83. - 2) ALL OCEANGOING VESSELS ARE SUBJECT TO THIS CLAUSES. PROVIDES COVER FOR 3/4 TH COLLISION LIABILITY. LAY-UP RETURN PROVISION REVISED 1 -11 -95 (NOT ACCEPTED. ALL OVER) INSTITUTE TIME CLAUSES HULL PORT RISK DT. 20 -7 -87. - ALL INLAND VESSELS COVER ARE SUBJECT TO THIS CLAUSE. PROVIDES COVER FOR 4/4 TH COLLISION LIABILITY AND P & I RISK’S NO LAY UP RETURN PROVISIONS

3) INSTITUTE TIME CLAUSE - HULLS TOTAL LOSS - ONLY DT. 1. 10. 83 3) INSTITUTE TIME CLAUSE - HULLS TOTAL LOSS - ONLY DT. 1. 10. 83 (INCLUDING SALVAGE, SALVAGE CHARGES AND SUE & LABOUR) APPLICABLE FOR TOTAL LOSS /RESTRICTED COVER. 4) INSTITUTE VOYAGE CLAUSE - HULL DT. 1. 10. 83 - SINGLE VOYAGES 5) INSTITUTE VOYAGE CLAUSE - HULLS TLO DT. 1. 10. 83 6) INSTITUTE TIME CLAUSES - DISBURSEMENT & IV (INCLUDING GA, SALVAGE , SC, S & L, 3/4 TH COLLISION LIABILITY) 7) INSTITUTE TIME CLAUSES - FREIGHT DT. 1. 10. 83 8) INSTITUTE YACHT CLAUSES DT. 1. 11. 85 SPEED BOATS, YACHTS ARE COVERED CRO SPEED WARRANTY- NOT TO EXCEED 17 KNOTS EXCLUDES USE FOR RACING, SPORT PURPOSE.

9) INSTITUTE CLAUSES FOR BUILDER’S RISK DT. 1. 6. 88 - VESSELS UNDER CONSTRUCTION 9) INSTITUTE CLAUSES FOR BUILDER’S RISK DT. 1. 6. 88 - VESSELS UNDER CONSTRUCTION - FAULTY DESIGN CLAUSE - COLLISION LIABILITY 10) SHIP REPAIRERS’ LIABILITY CLAUSE 11) CLASSIFICATION AND MAINTAINANCE OF CLASS CLAUSE - SPECIFIES 10 CLASSIFICATION SOCIETIES - COMPULSORY FOR ALL OCEANGOING VESSELS 12) HULL CLASSIFICATION CLAUSE APPLICABLE FOR OCEANGOING VESSELS ABOVE 15 YRS. OF AGE. 13) INSTITUTE RADIOACTIVE CONTAMINATION EXCLUSION CLAUSE 1. 10. 90 - EXCLUDES ANY DAMAGE DUE TO RADIOACTIVE IONISATION NUCLEAR/ATOMIC WEAPONS/EXPLOSIVE ETC.

14) ISM CODE WORDINGS - INTERNATIONAL SAFETY MANAGEMENT CODE GIVES THE RULES & REGULATIONS 14) ISM CODE WORDINGS - INTERNATIONAL SAFETY MANAGEMENT CODE GIVES THE RULES & REGULATIONS TO BE OBSERVED BY SHIPOWNER AT SEA FOR SAFTY/SAFE ADVENTURE 15) STRIKE, RIOT AND CIVIL COMMOTION CLAUSE HULLS - INLAND VESSEL & VESSELS PLYING IN INDIAN WATER 16) INSTITUTE WAR & STRIKES CLAUSE HULLS TIME DT. 1. 10. 83 17) WAR CLAUSES UNDER GOVERNMENT WAR RISK SCHEME - PROVIDES TERMS CONDITIONS EXCLUSIONS ALONGWITH AREAS WHICH ARE EXCLUDED FOR TRADING 18) INSTITUTE WARRANTIES OCEANGOING VESSELS ARE COVERED WHILST TRADING WORLD WIDE WITH CERTAIN EXCLUSION SPECIFIED UNDER INSTITUTE WARRANTIES. 19) SPECIAL PREMIUM ADJUSTEMNT & /OR CONCELLATON CLAUSE

HULL CLAUSES & UNDERWRITING 24 HULL CLAUSES & UNDERWRITING 24

INSTITUTE TIME CLAUSES LAUSE -- 6 n 6. 1. 1 PERILS OF THE SEAS INSTITUTE TIME CLAUSES LAUSE -- 6 n 6. 1. 1 PERILS OF THE SEAS RIVERS, OR OTHER NAVIGABLE WATERS. 25

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 2 FIRE, EXPLOSION 26 INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 2 FIRE, EXPLOSION 26

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 4 JETTISION 27 INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 4 JETTISION 27

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 5 PIRACY 28 INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 5 PIRACY 28

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 6 BREAKDOWN OF OR ACCIDENT INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 6 BREAKDOWN OF OR ACCIDENT TO NUCLER INSTALLATIONS OR REACTORS 29

INSTITUTE TIME CLAUSES CLAUSE -- 6 n n 6. 1. 7 CONTACT WITH AIRCRAFT INSTITUTE TIME CLAUSES CLAUSE -- 6 n n 6. 1. 7 CONTACT WITH AIRCRAFT OR SIMILAR OBJECTS, OR OBJECTS FALLING THEREFROM, LAND CONVEYANCE, DOCK OR HARBOUR EQUIPMENT, INSTALLATION. A. M. GAWARIKAR 30

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 8 EARTHQUAKE OR VOLCANIC ERUPTION INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 1. 8 EARTHQUAKE OR VOLCANIC ERUPTION OR LIGHTNING. 31

32 32

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 1 ACCIDENTS IN LOADING DISCHARGING INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 1 ACCIDENTS IN LOADING DISCHARGING OR SHIFTING CARGO OR FUEL. 33

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 2 BURSTING OF BOILERS BREAKAGE INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 2 BURSTING OF BOILERS BREAKAGE OF SHAFTS OR ANY LATENT DEFECT IN THE MACHINERY OR HULL. A. M. GAWARIKAR 34

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 3 NEGLIGENCE OF MASTER, OFFICERS, INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 3 NEGLIGENCE OF MASTER, OFFICERS, CREWS OR PILOTS 35

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 4 NEGLIGENCE OF REPAIRERS AND INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 4 NEGLIGENCE OF REPAIRERS AND CHARTERERS PROVIDED THEY ARE NOT ASSURED. A. M. GAWARIKAR 36

INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 5 BARRATARY OF MASTER OFFICERS INSTITUTE TIME CLAUSES CLAUSE -- 6 n 6. 2. 5 BARRATARY OF MASTER OFFICERS OR CREWS. 37

SEAWORTHINESS FOR VOYAGE POLICY IMPLIED WARRANTY At the commencement of the risk, the vessel SEAWORTHINESS FOR VOYAGE POLICY IMPLIED WARRANTY At the commencement of the risk, the vessel be reasonably fit to encounter the ordinary perils of the port. TIME POLICY There is no implied warranty that ship shall be seaworthy at any stage of adventure, but where with the privity of the assured, the ship is sent to sea in an unseaworthy state, the insurer is not liable for any loss attributable to unseaworthiness SEAWORTHINESS INCLUDES 1) 2) Condition of Hull, machinery The fulfilment of experts, master crew on board requirement as per MMD etc.

ENDORSEMENTS : ENDORSEMETS ARE PASSED FOR - INSTALMENT PREMIUM INCREASE / DECREASE IN S. ENDORSEMENTS : ENDORSEMETS ARE PASSED FOR - INSTALMENT PREMIUM INCREASE / DECREASE IN S. I. BREACH OF WARRANTY CHANGES IN TRADING WARRANTY TO INCLUDE NAMES OF LOSS PAYEE TO COVER ADDITIONAL RISK OF P & I AS PER REQUIREMENT OF PORT AUTHORITY.

TYPES OF LOSSES GROUNDING STRANDING TOTAL LOSS COLLISION FIRE / EXPLOSION JETTISION THEFT BY TYPES OF LOSSES GROUNDING STRANDING TOTAL LOSS COLLISION FIRE / EXPLOSION JETTISION THEFT BY VIOLANCE PIRACY MACHINERY DAMAGE FALL OF CARGO NEGLIGENCE OF CREW CONTACT W THAIRCRAFT, LAND CONV. DOCK HARBOUR BOILER BURSTING, BREAKAGE OF SHAFT NEGLIGENCE OF REPAIRER / CHARTERER BARRATARY OF MASTER OFFICERS AND CREW 40

PRELIMINARY REPORT AND ESTIMATE OF LOSS n n n PRELIMINARY REPORT SHOULD BE RECEIVED PRELIMINARY REPORT AND ESTIMATE OF LOSS n n n PRELIMINARY REPORT SHOULD BE RECEIVED WHIN IN 15 DAYS. NATURE OF DAMAGE ANALYSIS CAUSE OF DAMAGE ANALYSIS ESTIMATE OF LOSS. THIS IS TIME YOU CAN APPOINT ANY OTHER SURVEYOR FINAL SURVEY. 41

LOSS REPORT AND APPOINTMENT OF SURVEYOR n n n CHECK POLICY TERMS, TYPE OF LOSS REPORT AND APPOINTMENT OF SURVEYOR n n n CHECK POLICY TERMS, TYPE OF LOSS AND AREA OF TRADING AND APPROXIMATE LOSS, DF GENERAL AVERAGE G. A LIKE , PARTICULAR AVERAGE APPOINT PROPER SURVEYOR IF YOU HAVE NOT APPOINTED A. M. GAWARIKAR OF TRANSOCEAN MARINE AND GENERAL SURVEY AGENCIES. 42

MARINE HULL CLAIMS, PROCEDURE. 1. INTIMATION OF LOSS : INSURED SHOULD INFORM THE UNDERWRITING MARINE HULL CLAIMS, PROCEDURE. 1. INTIMATION OF LOSS : INSURED SHOULD INFORM THE UNDERWRITING D. O. /R. O. ABOUT THE LOSS IMMEDIATELY AFTER ITS NOTIFICATION TO ENABLE THE UNDERWRITER TO APPOINT SURVEYOR. 2. THE CLAIMANT SHOULD BE ADVISED ENTIRELY WITHOUT PREJUDICE, TO TAKE ADEQUATE STEPS TO MINIMIZE THE LOSS. A LETTER SHOULD BE WRITTEN TO THE CLAIMANT, WITHOUT PREJUDICE TO CO-OPERATE WITH THE SURVEYORS IN ALL RESPECT. CLAIMS ARE GENERALLY PROCESSED BASED ON THE SURVEYORS FINDINGS AND THE RECOMMENDATIONS. REPAIR BILLS ARE REQUIRED TO BE CERTIFIED BY THE SURVEYOR. 3. THE CLAIMANT AS WELL AS UNDERWRITERS SHOULD VERIFY : I. WHETHER THE RELATIVE HULL POLICY IS IN

II. III. IV. 4. FORCE AS ON THE DATE OF THE LOSS. WHETHER THE II. III. IV. 4. FORCE AS ON THE DATE OF THE LOSS. WHETHER THE POLICY COVERS THE SUBJECT VESSEL, AND THE APPROPRIATE COVER IS AVAILABLE UNDER THE POLICY. (e. g. IF THE COVER GIVEN IS TOTAL LOSS ONLY, NO PARTIAL LOSSES WILL BE COVERED UNDER THE POLICY. ) WHETHER TRADING WARRANTY IS BREACHED OR NOT. WHETHER ALL CERTIFICATES ARE VALID. IF THE VESSEL IS CLASS, WHETHER THE CLASS IS MAINTAINED OR NOT. WHETHER ISM CODE IS MAINTAINED. TYPES OF CLAIMS WHICH OCCUR IN CONNETION WITH HULL INSURANCE ARE : I. TOTAL LOSS/CONSTRUCTIVE TOTAL LOSS. II. PARTIAL LOSS III. SALVAGE CHARGES - EITHER SALVAGE

IV. V. VIII. UNDER CONTRACT. OR SALVAGE AWARDS. GENERAL AVERAGE. COLLISION LIABILITY. SUE AND IV. V. VIII. UNDER CONTRACT. OR SALVAGE AWARDS. GENERAL AVERAGE. COLLISION LIABILITY. SUE AND LABOUR CHARGES. T. P. LIABILITY CLAIMS FALLING UNDER P & I SECTION OF THE POLICY. PERSONAL ACCIDENT CLAIMS. 5. IN CASE OF TOTAL LOSS CLAIMS APART FROM THE INVESTIGATORS REPORT CANCELLATION OF REGISTRY CERTIFICATE IS REQUIRED TO BE SUBMITTED. 6. IN CASE OF C. T. L. THE INSURED GIVES NOTICE OF ABANDONMENT TO THE INSURER, WHICH INSURER MUST REFUSE TO ACCEPT. 7. THE OCEAN GOING VESSEL CLAIMS, ARE GENERALLY REFERRED TO THE AVERAGE ADJUSTER BY THE INSURED. AVERAGE ADJUSTERS ARE

ADJUSTING THE CLAIMS AS PER THE TERMS CONDITIONS OF THE POLICY AND ACCORDINGLY RECOMMEND ADJUSTING THE CLAIMS AS PER THE TERMS CONDITIONS OF THE POLICY AND ACCORDINGLY RECOMMEND THE CLAIM FOR PAYMENT. 8. COLLISION CLAIMS OF OCEAN GOING VESSELS ARE REFERRED TO THE P & I CLUB OF THE VESSEL. THE CLUBS ARRANGES FOR THE SECURITIES AS DEMANDED BY THE OPPONENT VESSEL OR ITS P & I CLUB. UNDERWRITER HAS TO ARRANGE FOR THE COUNTER SECURITY FOR 3/4 th RDC AS PER THE ITC HULLS CLAUSES. THE INSURED HAS TO GIVE COUNTER SECURITY TO THE UNDERWRITER FOR THE 3/4 TH SECURITY, WHICH IS ARRANGED BY THE UNDERWRITER. COLLISION CLAIMS ARE SETTLED AS PER THE DECISION OF THE COURT, OR IF MUTUALLY AGREED, OUT OF COURT SETTLEMENT IS ALSO MADE. 9. GROUNDING CLAIMS : TO SALVAGE THE VESSEL, SALVERS ARE APPOINTED BY CALLING TENDERS BY THE OWNERS WITH THE ASSISTANCE OF THE SURVEYOR.

10. IN CASE OF OCEAN GOING VESSELS, SALVERS ENTER INTO AGREEMENT ON “NO CURE 10. IN CASE OF OCEAN GOING VESSELS, SALVERS ENTER INTO AGREEMENT ON “NO CURE NO PAY” BASIS. THEIR REMUNERATION IS AGREED BY CONTRACT OR BY ARBITRATOR. 11. BEFORE SETTLEMENT OF THE CLAIM NO OBJECTION CERTIFICATE OF THE ASSIGNEE IS TO BE OBTAINED. 12. BASED ON SURVORS’, & ADJUSTER’S REPORT NOTE IS PUT UP BY THE CONCERNED OFFICE TO PROPER SANCTIONING FINANCIL AUTHORITY.

OCEAN GOING VESSELS - - GENERAL CARGO VESSEL BULK CARRIERS TANKERS - PRODUCT CARRIERS OCEAN GOING VESSELS - - GENERAL CARGO VESSEL BULK CARRIERS TANKERS - PRODUCT CARRIERS - LPG, LNG CARRIERS - EQUIPPED WITH INERT GAS SYSTEM TUGS/ SUPPLY VESSELS ANCHOR HANDLING TUG-CUM-SUPPLY VESSELS. REGISTRATION -MERCHANT SHIPPING ACT. 1935 TRADING LIMITS : INSTITUTE WARRANTIES DT. 01 -070 -76 COVERS : WIDER OR TOTAL LOSS ONLY. CONDITIONS : ITC HULLS DT. 01 -10 -83 CLASS & ISM CODE COMPLIANCE. OCEAN GOING VESSELS GUIDELINES : As per IRDA Regulations.

OCEANGOING VESSELS ISSUED TO OWNERS OR BAREBOAT CHARTERS’ ONLY 1) RATING : - AS OCEANGOING VESSELS ISSUED TO OWNERS OR BAREBOAT CHARTERS’ ONLY 1) RATING : - AS PER THE GUIDELINES PROVIDED BY TAC TO BE FINALISED BY HO TECHNICAL DEPT. 2) COMPULSARY CLASSIFICATION 3) INDIAN SHIPOWNERS CAN TAKE COVER IN INDIA. OR FOREIGN FLAG VESSELS WHERE INDIAN MANAGER/ BARE BOAT CHARTERS ARE INVOLVED ANY CHANGE IN CONDITION DURING CURRENCY OF POLICY INCLUDING DEDUCTIBLE WILL CEASE THE POLICY. POLICIES CAN BE ASSIGNED TO THE FINANCERS BY OWNERS.

LAY UP RETURNS PROVISION FOR POLICIES ISSUED UNDER ITC HULLS 1. 10. 83 CONDITION LAY UP RETURNS PROVISION FOR POLICIES ISSUED UNDER ITC HULLS 1. 10. 83 CONDITION CAN OPT FOR CRO WHERE BY DISCOUNT IN THE RATES IS GRANTED DEPENDING UPON CATEGORY OF THE FLEET CATEGORY CRO DISC. ON ANNUAL RATE SINGLETON 1 2 3 4 5 ALL VESSELS UNDER FLEET SHOULD BE COVER FOR CRO PREMIUM CAN BE PAID IN FOUR EQUAL INSTALMENTS ON OR BEFORE DUE DATES SEAWORTHINESS TO BE ADMITTED 4. 5% 4. 0% 3. 5% 2. 5% 1. 5%

ITC HULL 1. 10. 83 PROVIDES ¾th COLLISINONLIABILITY ¼TH LIABILITY CAN BE COVERED WITH ITC HULL 1. 10. 83 PROVIDES ¾th COLLISINONLIABILITY ¼TH LIABILITY CAN BE COVERED WITH P & I CLUB. NO COVER FOR OUTBOARD ENGINE FITTED TO SHIP. MINIMUM RATE TL + 0. 01% TOWARDS OTL COMPONENT RATING OF SUBSIDIARY INTEREST 1) SHOULD NOT BE HIGHER THAN H & M RATE RISK FREIGHT DISBURSEMENT & IV PREMIUM REDUCING GA DISBURSEMENT RATE TL TO BE LOADED BY 20% min 0. 10% + 10%(min. 0. 05%) TL + 10% min 0. 05% 80% OF TL 50% OF H & M RATE.

Maximum Deductible 1) Vessel not above 20 yrs. in age Final amount should not Maximum Deductible 1) Vessel not above 20 yrs. in age Final amount should not be more than 3% of H & M Sum Insured 2) Vessels above 20 yrs. in age Final amount should not be more than 3. 75% of H & M Sum Insured TRADING WARRANTIES All attachments /aquisition shall be covered subject to any one of the following trading warranties OCEANGOING VESELS A) Warranted vessel plying only within a port limits of (name of the port with leave to proceed not beyond 12 N. M. from prominent point of the harbour/ port as designated by Port Authorities/custom or local Authorities

RENEWAL RATING - FIVE YEARS PREMIUM /CLAIM STATISTICS - MAJOR CASUALTY DEDUCTION FOR CUMULATIVE RENEWAL RATING - FIVE YEARS PREMIUM /CLAIM STATISTICS - MAJOR CASUALTY DEDUCTION FOR CUMULATIVE INCREASE OF 20% OR MORE - PENALTY/ REDUCTION AS PER GRAPH PROVIDED -TOTAL CLAIM = CLAIM RATIO TOTAL PREIMUM - PENALTY FOR CLAIM RATIOS MORE THAN 40% - REDUCTION FOR CLAIM RATIO LESS THAN 20% WITHOUT EXCLUDING MAJOR CASUALTY DEDUCTION.

COMMERCIAL MANAGEMENT 54 COMMERCIAL MANAGEMENT 54

MANAGEMENT OF SHIP OWNERS AND OR MANAGERS TECHNICAL SHIP MANAGEMENT NEW CONSTRUCTION SURVEY AND MANAGEMENT OF SHIP OWNERS AND OR MANAGERS TECHNICAL SHIP MANAGEMENT NEW CONSTRUCTION SURVEY AND MANAGEMENT OPERATIONAL MANAGEMENT COMMERCIAL MANAGEMENT DRY DOCKING SALE AND PURCHASE OF SHIP MASTER CHIEF ENGINEER G P CREWS CHIEF MATE 2 ND ENGINEER 2 ND OFFICER WATCH KEEPING ENGINEERS ENGINE CREW WATCH KEEPING OFFICERS 55

NEW CONSTRUCTION A. M. GAWARIKAR 56 NEW CONSTRUCTION A. M. GAWARIKAR 56

DRY DOCKING A. M. GAWARIKAR 57 DRY DOCKING A. M. GAWARIKAR 57

BUILDERS RISKS INSURANCE SCOPE : ALL VESSELS - MECHANISED OR NON MECHANISED IRRESPECTIVE OF BUILDERS RISKS INSURANCE SCOPE : ALL VESSELS - MECHANISED OR NON MECHANISED IRRESPECTIVE OF VALUE WHILSTUNDER CONSTRUCTIONS ARE COVERED. ASSURED : COVER IS THEREFORE REQUESTEDBY THE SHIP BUILDER FOR THE RISKS WHILST THE VESSEL IS UNDER CONSTRUCTION. PERIOD : RISK IS COVERED FROM THE DATE OF LAYING KEEL, UNTIL COMPLETION OF THE CONSTRUCTION AND HANDING OVER THE VESSEL TO THE OWNER. COVER THEREFORE ALSO INCLUDES : TRIAL TRIPS, LAUNCHING AND DELIVERY VOYAGE (UPTO 250 N. M. NO ADDITIONAL PREMIUM. )

SUM INSURED : FULL CONTRACT VALUE OR FULL COMPLETED VALUE WHICHEVER IS GREATER. COVER SUM INSURED : FULL CONTRACT VALUE OR FULL COMPLETED VALUE WHICHEVER IS GREATER. COVER : SUBJECT TO “INSTITUTE BUILDERS RISKS CLAUSES DATED 01 -06 -88. ” PREMIUM : AS PER TARIFF FOR BUILDERS RISKS INSURANCE EFFECTIVE FROM 10 -06 -86 NOTE : PROPOSAL FORM IS THE BASIS OF UNDERWRITING.

BUILDERS RISK TARIFF 1) BASIS OF RATING : a) FULL CONTRACT VALUE OR FULL BUILDERS RISK TARIFF 1) BASIS OF RATING : a) FULL CONTRACT VALUE OR FULL COMPLETED VALUE WHICHEVER IS GREATER. B) PERIOD OF CONSTRUCTION - FROM INCEPTION OF ANY WORK IN THE YARD UNTIL FINAL DELIVERY. 2) CATEGORY : A : BARGES ETC. WITHOUT MAIN PROPELLING MACHINERY RATE : 0. 35% + 0. 035% PER MONTH OR PART. B: CONVENTONAL VESSELS RATE : 0. 45% + 0. 045% PER MONTH OR PART. C : CONTAINERS, SHIPS HAVING REFRIGERATING CAPACITY, WOODEN , FIBER GLASS RATE : 0. 55% + 0. 055% PER MONTH FOR FIRST 12 MONTHS. 0. 065% P. M. NEXT 12 MONTHS. 0. 075% P. M. THEREAFTER.

RATE D : WARSHIPS, LGC ETC. : TO BE REFERRED TO TAC. THE ABOVE RATE D : WARSHIPS, LGC ETC. : TO BE REFERRED TO TAC. THE ABOVE RATES INCLUSIVE OF SRCC RISKS. 3) YARD DISCOUNT - FOR GOOD CLAIM RECORD. 4) LOADING FOR ADVERSE CLAIM RECORD. 5) OWNERS DISCOUNT - 15%

INSTITUTE CLAUSES FOR BUILDERS RISK DT. 01. 06. 88 PERILS : 1) THE INSURANCE INSTITUTE CLAUSES FOR BUILDERS RISK DT. 01. 06. 88 PERILS : 1) THE INSURANCE IS AGAINST ALL RISKS OF LOSS OR DAMAGE TO THE SUBJECT MATTER DURING THE PERIOD INCLUDING THE COST OF REPAIRING, REPLACING ANY DEFECTIVE PART SOLELY IN CONSEQUENCE OF THE DISCOVERY OF A LATENT DEFECT. 2) IN CASE OF FAILURE TO LAUNCH, UNDERWRITER HAS TO BEAR SUBSEQUENT EXP. OTHER : 1) POLLUTION HAZARD : LOSS DUE TO & CAUSED BY ANY GOVT. AUTHORITY TO PREVENT POLLUTION HAZARD OR THREAT THEREOF.

2) FAULTY DESIGN : LOSS ARISING FROM FAULTY DESIGN - BUT NO COVER TO 2) FAULTY DESIGN : LOSS ARISING FROM FAULTY DESIGN - BUT NO COVER TO REPLACE SUCH FAULTY PART. 3) COLLISION LIABILITY. 4) PROTECTION AND INDEMNITY a) LOSS OR DAMAGE TO ANY FIXED OR MOVABLE OBJECT b) LOSS OF LIFE PERSONAL INJURY ILLNESS. c) ANY EXPENCES OF REMOVAL OF THE WRECK OF THE VESSEL. d) LEGAL COSTS. 5) SUE & LABOUR CHARGES - EXPENCES INCURRED TO MINIMISE THE LOSS OR TO AVOID THE LOSS. EXCLUSION : WAR RISKS NUCLEAR WEAPONS.

INFORMATION TO BE COLLECTED BY WAY OF COMPLETED PROPOSAL FORM 1) NAME & ADDRESS INFORMATION TO BE COLLECTED BY WAY OF COMPLETED PROPOSAL FORM 1) NAME & ADDRESS OF THE BUILDER 2) CONSTRUCTION YARD NUMBER 3) PALCE OF CONSTRUCTION 4) CONTRACT VALUE HULL Rs. Or COMPLETED VALUE - MACH : Rs. 5) TYPE OF VESSEL - STEEL, WOODEN ETC. 6) CLASSIFICATION, GRT, DIAMENSIONS ETC. 7) DATE OF LAYING OF KEEL 8) PROBABLE DATE OF COMPLETION 9) PROBABLE DATE OF ARRIVAL OF FIRST ITEM OF MACHIERY. 6) INSTALMENT FACILITY : i) ON QUARTERLY BASIS - WILL BE GRANTED ii)ONLY WHEN THE PERIOD OF CONSTRUCTION IS OVER MONTHS. iii) FIRST INSTALMENT WILL BE 5% MORE THAN THE REST. 12

7) DELIVERY VOYAGE UPTO 250 N. M. ON OWN POWER IS COVERD WITHOUT ADDITIONAL 7) DELIVERY VOYAGE UPTO 250 N. M. ON OWN POWER IS COVERD WITHOUT ADDITIONAL PREMIUM. - BEYOND 250 N. M. ADDITIONAL PREMIUM TO BE CHARGED AS PER APPLICABEL TARIFF. 8) POLICY INCLUDES DURATION CLAUSE. 9) DEDUCTIBLE : POLICY SUBJECT TO DEDUCTIBLE 0. 05% OF PROVISONAL CONTRACT VALUE WITH MINIMUM RS. 1, 500/- & MAXIMUM Rs. 6, 000/TO BE ROUNDED TO NEAREST Rs. 100/-

FISHING VESSELS /TRAWLERS Tariff is applicable for all fishing vessels/Trawlers mechanized / nonmechanized upto FISHING VESSELS /TRAWLERS Tariff is applicable for all fishing vessels/Trawlers mechanized / nonmechanized upto Rs. 100, 000/Cover is subject to one of the condition given in tariff. No cover for IFVC (Additional perils) clause 347 dt. 20. 7. 87 No separate Insurance cover for Bunkers & spares. However, cost of Bunkers & spares can be included in H & M Sum Insured. No cover for Fish Catch on board Fishing Vesel/Trawlers Cover for laid up can be granted. Widest cover available is Institute Fishing Vessel clauses dt. 20. 7. 87 No separate cover for fishing nets alone under Hull dept. Nets are covered alongwith the vessels subject to IFVC Valuation of net is to be ascertained at inception. Minimum premium Rs. 1000/Short period cover a) more than 3 months less than 12 months b) 1/8 of the Annual rate to be charged.

- Fleet discount 10% for 10 or more fishing vessel of single owner - - Fleet discount 10% for 10 or more fishing vessel of single owner - Owners discount /Agency commission shall be granted thereafter. - Not more than 15% - Policy should show aggregate value of Hull, Machinery &Accessories together. - Value for Fishing net to be shown seperately - All the rates are subject to cancellation returns only (CRO) - SRCC Restricted conditions i. e. IFVC dt. 20. 7. 87 TL/OTL only including Salvage , SC. S & L) 0. 05% Wider conditions i. e. IFVC dt. 20. 7. 87 0. 10% MID TERM COVER for SRCC is granted subject ot short period rate of 1/8 th of annual rate p. m. or part thereof - min 0. 025% for restricted cover - max 0. 05% for wider cover - Cover shall commence 15 days after the receipt of the premium

CONDITIONS OF INSURANCE 1) IFVC dated 20. 7. 87 but limited to pay only CONDITIONS OF INSURANCE 1) IFVC dated 20. 7. 87 but limited to pay only TL/CTL (including salvage, salvage charges Sue & Labour), CRO 2) IFVC dated 20. 7. 87 with clause 20 (P & I risks) deleted, CRO 3) IFVC dated 20. 7. 87, CRO - subject to “No breach of local port regulations regarding sailing” Trading warranties - 6 Tones for trading -Warranted vessel engaged in fishing operation connected therewith on 1) Coast of Gujarat, Maharashtra & Goa with leave to proceed upto Karwar Not beyond 50 nautical miles into the sea from shore. - Warranted vessel laid up to from 15 th June to 15 th August (B. D. I) with leave to operate on coasts of Saurashtra and Kutch during this period.

2) Coasts of karnataka, Kerala and West & South coasts of Tamil Nadu upto 2) Coasts of karnataka, Kerala and West & South coasts of Tamil Nadu upto and including Gulf of Mannar - laid up 1 st June to 15 th Aug. (B. D. I) 3) coast of Andhra Pradesh and Tamil Nadu including Pondichery) upto and including Palk Strait & Palk Bery - laid up from 1 st Nov. 5 o 31 st January (B. D. I) 4) Coast of Orissa & West Bengal - laid up from 1 st May to 30 th Sept. (BDI) 5) Coast of Andaman & Nicobar Islands coast of Andaman to Nicobar & vice versa - laid up for 15 th May to 15 th Nov. (BDI) 6) Coasts of islands constituing Lakshadweep & not to proceed beyond 20 N. M. into sea from shore with leave to proceed from one island to another island forming port of lakshadweep laid up 15 th May to 15 th Nov. (BDI) For employment beyond 50 N. M. upto 100 N. M subject to Additional premium & certification by competent authority.

- Separate Trading warranty for Deep Sea Fishing Vessels /Trawlers. Warranted vessel employed for - Separate Trading warranty for Deep Sea Fishing Vessels /Trawlers. Warranted vessel employed for fishing a) On the East & West coast of India but not to proceed beyond 300 N. M. into the sea from shore. b) On the coast of Lakshadweep Islands but not to proceed beyond 300 N. M. c) On the coast of Andaman & Nicobar islands but not to proceed beyond 300 N. M. into the sea from the shore. All voyages between a, b, c, are covered without any A. P. but no fishing whist passing from one zone to another.

ADDITIONAL COVERS 1) 2) 3) A. P FOR EXTENDED TRADING FOR FV. PLYING BEYOND ADDITIONAL COVERS 1) 2) 3) A. P FOR EXTENDED TRADING FOR FV. PLYING BEYOND 100 N. M. UPTO 300 N. M DEEP SEA TRADING IN ALL ZONES RS. 2000 PER ZONE H &. M rate loaded by 0. 10% A. P. RS. 10000 WAIVER OF MONSOON LAY-UP WARRANTY TO BE OPTED AT THE INCEPTION OF COVER FOR FISHING VESSELS WITH S. I. UPTO RS. 10 LAKHS 1) ONE ZONE 1. 5% OF H & M S. I. 2) MORE THAN ONE ZONE ON THE SAME COAST 3) FOR MORE THAN ONE COAST INCLUDING ANDAMAN & NICOBAR AND LAKSHADWEEP 2. 5% OF H & M S. I. 3% OF H & M S. I.

(ABOVE RS. 20 LACS AND UPTO RS. 100 LACS) FISHING VESSEL (WIDER CONDITIONS) ATTACHING (ABOVE RS. 20 LACS AND UPTO RS. 100 LACS) FISHING VESSEL (WIDER CONDITIONS) ATTACHING TO AND FORMING PART OF POLICY NO. ____ A/C. M/S. _______________________ SUBJECT TO INSTITUTE FISHING VESSEL CLAUSES DATED 20 -07 -87 AS ATTACHED. SUBJECT TO CANCELATION RETURNS ONLY. NO REFUND OF PREMIUM IS PAYABLE IN THE EVENT THE VESSEL IS LAID UP IN PORT OR ON HARD DURING THE CURRENCY OF INSURANCE. SUBJECT TO DEDUCTIBLE OF 0. 50% OF S. I. EACH CLAIM (OTHER THAN TL AND CTL) EACH ACCIDENT OR OCCURRENCE. OR 10% OF ASSESSED LOSS WHICHEVER IS HIGHER.

SUBJECT TO ADDITIONAL DEDUCTIBLE OF 10% OF THE ASSESSED LOSS UNDER CLAUSE NO. 13. SUBJECT TO ADDITIONAL DEDUCTIBLE OF 10% OF THE ASSESSED LOSS UNDER CLAUSE NO. 13. SUBJECT TO INSTITUTE RADIOACTIVE CONTAMINATION EXCLUSION CLAUSE CL. 356 (01 -10 -90) SUBJECT TO ELEC. DATE RECOGNITION ENDT. EXTENSION : (a) INCLUDING S. R. C. C RISKS AS PER STRIKE CLAUSES. TRADING WARRANTY : - TO INDICATE SUBJECT TO NO BREACH OF LOCAL PORT REGULATION REGARDING SAILING.

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