TMI BlogCentral Comprehensive Insurance Scheme, 2007X X X X Extracts X X X X X X X X Extracts X X X X ..... nufacturing industrial units as well as existing units which go in for substantial expansion and are located anywhere in NER, will be eligible for reimbursement of 100% insurance premium under Comprehensive Insurance Scheme . The Scheme will also be applicable to the following service sector activities/industries: - III. Service Sector: (vii) Hotels (not below Two Star category), adventure and leisure sports including ropeways ; (viii) Medical and health services in the nature of nursing homes with a minimum capacity of 25 beds and old-age homes ; (ix) Vocational training institutes such as institutes for hotel management, catering and food crafts, entrepreneurship development, nursing and para-medical, civil aviation related training, fashion, design and industrial training. II. Bio-technology industry III . Power Generating Industries: Power Generating plants upto 10 MW based on both conventional and non-conventional sources. 3(a). The Scheme shall not be applicable to the industries listed in Annexure-I 4. Definitions : (a) Industrial Unit means any industry which is included in Fire Policy C as per All India Fire Tariffs. (b) New i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... URE-A COMPREHENSIVE INSURANCE POLICY FOR INDUSTRIAL UNIT IN NORTH EAST REGION IN CONSIDERATION OF the Insured named in the schedule hereto having paid to the ------------- ------------ Insurance Company Limited (hereinafter called the company) the premium mentioned in the said schedule, THE COMPANY AGREES, (subject to the conditions and exclusions contained herein or endorsed or otherwise expressed hereon) that if after payment of the premium the property insured described in the said schedule or any part of such property be destroyed or damaged by the following:- i. Fire ii. Lightning iii. Explosion/Implosion but excluding loss of or damage (a) to boilers (other than domestic boilers), economizers or other vessels, machinery or apparatus in which steam is generated or their contents resulting from their own explosion/implosion, (b) caused by centrifugal force. iv. Riot, Strike, Malicious and terrorist Damage as per Riot, Strike, Malicious and terrorist Damage clause printed hereon. v. Impact by any Rail/Road vehicle or animal. vi. Aircraft and other aerial and/or space devices and/or articles dropped therefrom, excluding destruction or damage ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... II) Loss of or Damage to the property insured by explosion or otherwise directly caused by: 1. An act of terrorism committed by a person or persons acting on behalf of or in connection with any organization. 2. The action of any lawfully constituted authority in suppressing or attempting to suppress any such act, of terrorism or in minimizing the consequences thereof. For the purpose of this clause terrorism shall mean the use of violence for political ends and shall include any use of violence for the purpose of putting the public or any section of the public in fear. EXCLUSIONS THIS INSURANCE DOES NOT COVER 1. Loss by theft during or after the occurrence of any insured peril except as provided for the Riot, Strike and Malicious Damage Clause. 2. Loss or damage to property occasioned by its undergoing any heating or drying process. 3. Loss or damage occasioned by or through or in consequence of (a) The burning of property on order of any public authority (b) Subterranean fire. 4. Loss of damage directly or indirectly caused by or arising from or in consequence of or contributed to by nuclear weapons material. 5. Loss or damage directly or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... od not exceeding 60 days. This insurance does not cover: (a) Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever. (b) Loss or damage resulting from total or partial cessation of work or the retarding or interruption or cessation of any process or operation or omissions of any kind. (c) Loss or damage occasioned by permanent or temporary dispossession resulting from confiscation commandeering or requisition by any lawfully constituted authority. (d) Loss or damage occasioned by permanent or temporary dispossession of any building or plant or unit or machinery resulting from the lawful occupation by any person of such building or plant or unit or machinery or prevention of access to the same. PROVIDED nevertheless that the Company is not relieved under or (d) above of any liability to the Insured in respect of physical damage to the property insured occurring before dispossession or during temporary dispossession. CONDITIONS 1. THIS POLICY shall be voidable in the event of mis-representation, mis-description or nondisclosure of any material particular. 2. All insuran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Company as may be reasonably required by or on behalf of the Company together with a declaration and oath or in other legal form of the truth of the claims and of any matters connected therewith. No claim under this policy shall be payable unless the terms of this condition have been complied with. (ii) The Company reserves the right to treat the claim as no claim if no information/documents are submitted by the insured within a period of 6 months from the date of loss. (iii)In no case whatsoever shall the |Company be liable for any loss or damage after the expiration of 12 months from the happening of the loss or damage unless the claim is the subject of pending action or arbitration; it being expressly agreed and declared that if the Company shall disclaim liability for any claim hereunder and such claim shall not within 12 calendar months from the date of the disclaimer have been made the subject matter of a suit in a court of law then the claim shall for all purposes be deemed to have been abandoned and shall not thereafter be recoverable hereunder. 5. On the happening of loss or damage to any of the property insured by this policy, the Company may:- (a) enter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wn expense furnish the Company with such plans. Specifications, measurements, quantities and such other particulars as the Company, may require, and no acts done, or caused to be done, by the company with a view to reinstatement or replacement shall be deemed an election by the company to reinstate or replace. If in any case the Company shall be unable to reinstate or repair the property hereby insured, because of any municipal or other regulations in force affecting the alignment of streets or the construction of buildings or otherwise, the Company shall in every such case, only be liable to pay such sum as would be requisite to reinstate to its former condition. 8. The insured shall at the expense of the Company do and concur in doing, and permit to be done, all such acts and things as may be necessary or reasonably required by the Company for the purpose of enforcing any rights and remedies or of obtaining relief or indemnity from other parties to which the Company shall be or would become entitled or subrogated, upon its paying for or making good any loss or damage under this policy, whether such acts and things shall be or become necessary or required before or after his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned to the full extent of the respective sum insured in consideration of which, upon the settlement of any loss under this policy, pro rata premium for the unexpired period from the date of such loss to the expiry period of insurance for the amount of such loss shall be payable by the Insured to the Company. The additional premium referred above shall be deducted from the net claim payable under the policy. This continuous cover to the full extent will be available notwithstanding any previous loss for which the Company may have paid hereunder and irrespective of the fact whether the additional premium as mentioned above has been actually paid or not following such loss. The intention of this condition is to ensure continuity of the cover to the insured subject only to the right of the company for deduction from the claim amount, when settled of pro-rata premium to be calculated from the date of loss till expiry of the policy. Notwithstanding what is stated above, the Sum Insured shall stand reduced by the amount of loss in case the insured immediately on occurrence of the loss exercises his option not to reinstate the sum insured as above. ANNEXURE-I Negative List ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ix. Development Commissioner, Small Scale Industries, Government of India. Member x. Additional Secretary Financial Adviser, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India. Member xi. Chief Controller of Accounts, Department of Industrial Policy and Promotion, Government of India Member xii. Joint Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India Member Secretary 2. The terms of reference of this Committee will be as under: The Committee would monitor the following:- (i) Notification of various Schemes under NEIIPP, 2007 in a timely manner. (ii) Monitoring of various Schemes/measures under NEIIPP, 2007 including release and utilisation of funds. (iii) To overcome the difficulties in implementation of NEIIPP, 2007, which may arise from time ..... X X X X Extracts X X X X X X X X Extracts X X X X
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