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DASTUR REINSURANCE
BROKERS PRIVATE LIMITED,
MUMBAI
REINSURED:
PERIOD:
TYPE OF TREATY:
CLASS:
TERRITORIAL SCOPE:
LIMIT
Layer I
To Pay up to N. Rs. 2,000,000 Ultimate Net Loss, each and
every loss
Excess of N. Rs. 1,500,000 Ultimate Net loss, each and
every loss
Layer II
To Pay up to N. Rs. 2,000,000 Ultimate Net Loss, each and
every loss
Excess of N. Rs. 3,500,000 Ultimate Net loss, each and
every loss
Layer III
To Pay up to N. Rs. 4,500,000 Ultimate Net Loss, each and
every loss
Excess of N. Rs. 5,500,000 Ultimate Net loss, each and
every loss
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K. M. DASTUR REINSURANCE
BROKERS PRIVATE LIMITED,
MUMBAI
REINSTATEMENT:
Layer I
Two at 100% additional premium pro rata as to amount
reinstated
Layer II
One at 100% additional premium pro rata as to amount
reinstated
Layer III
One at 100% additional premium pro rata as to amount
reinstated
MINIMUM &
DEPOSIT PREMIUM:
Layer I
N. Rs. 300,200 payable in two equal installments on 17th
July 2009 and 17th Jan 2010 and adjustable at 3.16% of
GNPI
Layer II
N. Rs. 143,450 payable in two equal installments on 17th
July 2009 and 17th Jan 2010 and adjustable at 1.51% of
GNPI
Layer III
N. Rs. 169,100 payable in two equal installments on 17th
July 2009 and 17th Jan 2010 and adjustable at 1.78% of
GNPI
TAXES/CHARGES:
BROKERAGE:
WORDING:
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K. M. DASTUR REINSURANCE
BROKERS PRIVATE LIMITED,
MUMBAI
GENERAL CONDITIONS:
1. Reinsured to be sole judge as to what constitutes one
risk
2. Ultimate Net Loss Clause
3. Net Retained Lines Clause
4. Local Jurisdiction Clause [Proper Law and Jurisdiction
governing this Reinsurance (including Arbitration
Tribunals) shall be according to Nepalese Law]
5. Claim Reporting Clause (75%)
6. Extended Expiration Clause
7. Arbitration Clause
8. Loss Settlements Clause
9. Inspection of Records Clause
10. Errors and Omissions Clause
11. Several Liability Notice LSW 1001 (Reinsurance)
12. Special acceptance to be agreed by leading reinsurer
only and binding on all following reinsurers. Renewals
of special acceptance agreed on the previous
underwriting year of the treaty to be automatically
covered and advised to the leading reinsurer.
13. Changes in Law Clause
14. Acts in Force Clause
EXCLUSIONS:
1. Obligatory Reinsurance Treaties
2. Business written on Stop Loss or Layered basis, other
than policies where underlying primary layer is in
vogue
3. War /Civil War
4. Political Risks Exclusion Clause (as attached)
5. IT Hazards Clarification Clause NMA 2912
6. Nuclear Energy Risks (Reinsurance) (1984)
(NMA1975A)
7. Business accepted by the Reinsured in any Pooling
arrangement
8. Crop Insurance
9. Terrorism Exclusion Endorsement (Reinsurance)
10. Riots, Strikes and Malicious Damage (RSMD)
11. Seepage and Pollution
12. Casualty Exclusion Clause
13. Transmission and Distribution Lines other than agreed
by Nepalese Fire Tariff.
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K. M. DASTUR REINSURANCE
BROKERS PRIVATE LIMITED,
MUMBAI
INFORMATION:
LEADER:
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K. M. DASTUR REINSURANCE
BROKERS PRIVATE LIMITED,
MUMBAI
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