Irda Mar08

Volume VI, No.
March 2008
Coverage against Maritime Disasters
’Ë◊Ê ÁflÁŸÿÊ◊∑§ •ı⁄U Áfl∑§Ê‚ ¬˝ÊÁœ∑§⁄UáÊ

IRDA Journal (Vol 6 Iss 4).pmd 1 3/7/2008, 3:29 AM
Editorial Board
C.S. Rao
C.R. Muralidharan
S.V. Mony
K.N. Bhandari
Vepa Kamesam
Ashvin Parekh
Editor
U. Jawaharlal
Hindi Correspondent
Sanjeev Kumar Jain
Printed by Alapati Bapanna and
published by C.S.Rao on behalf of
Insurance Regulatory and Development Authority.
Editor: U. Jawaharlal
Printed at Kalajyothi Process Ltd.
(with design inputs from Wide Reach)
1-1-60/5, RTC Cross Roads
Musheerabad, Hyderabad - 500 020
and published from
Parisrama Bhavanam, III Floor
5-9-58/B, Basheer Bagh
Hyderabad - 500 004
Phone: +91-40-66820964, 66789768
Fax: +91-40-66823334
e-mail: irdajournal@irda.gov.in
© 2007 Insurance Regulatory and Development Authority.

Please reproduce with due permission.
Unless explicitly stated, the information and views published in this
Journal may not be construed as those of the Insurance Regulatory
and Development Authority.

From the Publisher
M
arine insurance is a very fascinating condition of the ship's hull before underwriting
area for insurance underwriters. It the risks to ensure that there is no foul play.
tests their skills not merely in the area
Conceptually also marine insurance is far different
of insurance but in a host of other aspects as well
from the other classes and calls for specialized
- ranging from their knowledge of geography,
skills. Insurable interest that forms the basis for
sea-routes, international business formalities etc.
the purchase of insurance is itself unique in the
Further, they need to update their skills with
class, apart from other aspects like the amount
regard to global trends and keep track of the
of insurance, multiple claims etc. Being updated
vulnerabilities associated with this business. It
with the latest developments in international
needs no emphasis that where the policing or
conventions and practices is also an essential
supervision is weak, there is preponderance of
prerequisite for a marine insurance underwriter.
fraudulent activities.
The focus of this issue of the Journal is on 'Marine
Historically, fraudulent elements have been taking
Insurance' in its entirety. From being exclusive
advantage of the not-so-strict rules of a particular
tax-saving instruments to providing essential
region to push their interests; and thus, it is not
risk coverage and yet participate in the
without reason that marine insurers are
market growth, life insurance products have
particularly sensitive to shipments being sent to
undergone a tremendous transformation.
such places or passing through such ports. Flying
The focus of the next issue of the Journal will be
flags of convenience has been an age-old practice
on 'Life Insurance Products'.
of fraudulent marine shippers and calls for special
attention of insurers. Insurers should also verify
the quality of the merchandise that is to be
shipped; and get to know the history and C.S. Rao

ISSUE FOCUS
Farewell to Marine
- Sibesh Sen 11
Musings of
a Marine Insurance Practitioner
- Alice G.Vaidyan 14
Coverage in Marine Insurance

- G.V. Rao 16
Protection & Indemnity Insurance

E
- Nandita Banerjee 19
Laws, Rules and Regulations

- R. C. Guria 22
D
Stock Throughput Policy

- Sagarnil Gupta 29
I
Statistics - Life Insurance 4

Vantage Point
U. Jawaharlal 10
S
EußN˛Á| MÆÁız EÁ{∫ N{˛Ã

E∆ÁzN˛ úÁlgz 39
uƒ∆z ¬zQ: úzã∆å ÃÏáÁ∫Áı ú∫
Ã∫N˛Á∫y twu…bN˛Ázm EÁ{∫ uåtÁå
LY.L™.\{å 42
Statistics - Non-Life Insurance 45
N
Round-up 48
FOLLOW
T H R O U G H 33
I
Rashtriya Swasthya Bima Yojana

- Dr. N. Devadasan and Mr. Anil Swarup

from the editor
The Passions of
Marine Insurance Underwriting
O
ne often wonders whether Marine Insurance underwriting is an art or a science. Whatever one feels,
marine underwriters are a different set of people that hold their job very close to their hearts and are
passionate about it. What makes this domain such a challenging task is the range of operations that they
have to be conversant with. The world order in the area of international commerce is ever so dynamic and is
changing by the day. This factor in itself puts the job of the marine underwriter in a very special spot.
The clauses in an insurance contract have always remained a very challenging thing - for the underwriters to
frame, and for the insured to understand. In the domain of marine insurance, it is even more intriguing. The
applicability of actual total loss and constructive total loss; the general average clause where the voyage itself
is threatened; whether jettisoning was really warranted or not are all huge challenges and make the marine
insurance sector a class apart. Besides, the various trade conventions and practices have to be fully understood
in light of the new paradigm of global village and the diminishing barriers between different countries.
Insurers have also to fully assimilate the applicability of rules governing the movement of goods and the points
at which risk assumption changes hands. Even when the adventures are backed by proper banking transactions,
insurers should remember that bankers deal only in documents and physical verification of the goods involved
is beyond their responsibility. All these factors put marine insurance on a totally different pedestal and make
the job of an underwriter truly challenging.
'Marine Insurance' is the focus of this issue of the Journal and no wonder that we have several practitioners
putting down their thoughts and experiences - some of them anecdotal. To begin with, we have Mr. Sibesh Sen
who talks about the complications involved in marine adventures and the interpretation of clauses in a marine
insurance contract, in a truly refreshing manner. In the next article 'Musings of a Marine Insurance Practitioner'
by Ms. Alice G. Vaidyan, we get to see the increasingly risky nature of marine insurance business and the
challenges associated with it. Mr. G.V. Rao discusses threadbare the interpretation of several clauses in marine
insurance contracts, in his article.
Protection and Indemnity covers have always been an ideal foil for supplementing Hull insurance policies. Ms.
Nandita Banerjee throws light on this very important aspect of marine insurance portfolio. In a very detailed
account of international rules and regulations pertaining to global commerce, Mr. R.C. Guria provides us with
the information on the nitty-gritty. Mr. Sagarnil Gupta gives an account of how Stock Throughput coverage can
provide protection for stocks and inventory involved in international trade. Health insurance continues to be a
hotly debated topic and we have an article in the 'follow-through' section by Dr. Devadasan and Mr. Anil Swarup,
that talks about the Rashtriya Swasthya Bima Yojana. In addition to the usual monthly statistics of life and non-
life insurers, this issue also has the details of how insurers fared in different classes of business during the latest
quarter ended Dec.2007.
We have been witnessing a gradual transition from a sales-driven, tax incentive-supported life insurance business
to a more voluntary, need-based purchase of life insurance covers. 'Products in Life Insurance' will be the focus
of the next issue of the Journal.
U. Jawaharlal

IRDA Journal (Vol 6 Iss 4).pmd
Report Card:LIFE
statistics - life insurance

First Year Premium of Life Insurers for the Period Ended January, 2008
Sl
Premium u/w (Rs. in Crores) No. of Policies / Schemes No. of lives covered under Group Schemes
No. Insurer
6
Jan, 08 Up to Jan, 08 Up to Jan, 07 Jan, 08 Up to Jan, 08 Up to Jan, 07 Jan, 08 Up to Jan, 08 Up to Jan, 07

1 Bajaj Allianz
Individual Single Premium 83.78 509.08 878.28 7144 70066 98245
Individual Non-Single Premium 587.39 3903.45 1649.25 352389 2648502 1040702
Group Single Premium 0.04 8.30 4.19 0 0 1 92 6177 1792
Group Non-Single Premium 10.93 41.47 17.32 35 246 180 206038 870858 619681
2 ING Vysya
irda journal

3 Reliance Life
4
4 SBI Life
Mar 2008

5 Tata AIG
3/7/2008, 3:29 AM

6 HDFC Standard
7 ICICI Prudential
8 Birla Sunlife
9 Aviva
IRDA Journal (Vol 6 Iss 4).pmd

10 Kotak Mahindra Old Mutual
11 Max New York
12 Met Life
7

13 Sahara Life
14 Shriram Life
irda journal

15 Bharti Axa Life
5

Mar 2008
16 Future Generali*
3/7/2008, 3:29 AM
Private Total
17 LIC
Grand Total
Note: 1.Cumulative premium upto the month is net of cancellations which may occur during the free look period.
2. Compiled on the basis of data submitted by the Insurance companies.
3. * Commenced operations in the November, 2007.
FIRST YEAR PREMIUM OF LIFE INSURERS UP TTO

O THE MONTH OF DECEMBER 2007
INDIVIDUAL SINGLE PREMIUM (INCLUDING RURAL & SOCIAL)
INDIVIDUAL (Rs.in Crore)
Sl. PREMIUM POLICIES SUM ASSURED

PARTICULARS
No. Dec’2006 Dec’2007 Dec’2006 Dec’2007 Dec’2006 Dec’2007
Non linked*
1 Life
with profit 179.17 124.10 20507 12987 276.15 195.98
without profit 658.94 150.56 224771 290579 2674.80 2050.34
2 General Annuity
with profit 0.00 0.00 0 0 0.00 0.00
without profit 6.89 8.46 253 836 0.41 0.17
3 Pension
with profit 112.16 78.60 6318 9876 2.53 14.95
without profit 1.72 0.51 70 49 1.42 0.00
4 Health
with profit 0.00 0.00 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0.00 0.00
A. Sub total 958.88 362.24 251919 314327 2955.30 2261.44
Linked*
1 Life
with profit 0.00 0.00 0 0 0.00 0.00
without profit 2353.13 3902.26 309608 896360 3557.96 7092.47
2 General Annuity
with profit 0.00 0.00 0 0 0.00 0.00
without profit 1.20 0.00 0 0 0.00 0.01
3 Pension
with profit 0.00 0.00 0 0 0.00 0.00
without profit 13632.93 11110.20 4036361 2938458 2.09 39.65
4 Health
with profit 0.00 0.00 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0.00 0.00
B. Sub total 15987.27 15012.47 4345969 3834818 3560.05 7132.13
C. Total (A+B) 16946.14 15374.70 4597888 4149145 6515.35 9393.57
Riders:
Non linked
1 Health# 0.02 0.01 21 19 0.32 0.02
2 Accident## 0.04 0.02 911 110 5.72 0.89
3 Term 0.01 0.00 27 7 0.20 0.08
4 Others 0.00 0.00 0 0 0.00 0.00
D. Sub total 0.07 0.03 959 136 6.24 1.00
Linked
1 Health# 0.02 0.02 65 14 0.71 0.17
2 Accident## 0.10 0.27 7795 17246 48.74 207.61
3 Term 0.00 0.00 4 0 0.08 0.00
4 Others 0.00 0.00 0 0 0.00 0.00
E. Sub total 0.12 0.29 7864 17260 49.53 207.78
F. Total (D+E) 0.19 0.31 8823 17396 55.78 208.78
G. **Grand Total (C+F) 16946.33 15375.02 4597888 4149145 6571.13 9602.36
* Excluding rider figures.

** for policies Grand Total is C.
# All riders related to critical illness benefit, hospitalisation benefit and medical treatment.
## Disability related riders.
The premium is actual amount received and not annualised premium.
irda journal 6 Mar 2008

FIRST YEAR PREMIUM OF LIFE INSURERS UP TTO

O THE MONTH OF DECEMBER 2007
INDIVIDUAL NON-
INDIVIDUAL SINGLE PREMIUM (INCLUDING RURAL & SOCIAL)
NON-SINGLE (Rs.in Crore)
Sl. PREMIUM POLICIES SUM ASSURED

PARTICULARS
No. Dec’2006 Dec’2007 Dec’2006 Dec’2007 Dec’2006 Dec’2007
Non linked*
1 Life
with profit 14730.47 6420.28 13235618 10824982 121948.93 103487.03
without profit 1844.23 174.66 672260 720788 14635.09 15057.95
2 General Annuity
with profit 0.17 0.05 160 84 2.68 1.29
without profit 0.00 0.00 0 0 0.00 0.00
3 Pension
with profit 40.51 20.68 15802 26083 162.47 237.49
without profit 11.56 14.33 3882 4990 0.00 0.00
4 Health
with profit 0.00 0.00 0 0 0.00 0.00
without profit 15.53 55.64 103476 234033 4628.08 19860.94
A. Sub total 16642.47 6685.64 14031198 11810960 141377.24 138644.69
Linked*
1 Life
with profit 0.13 0.00 61 6 1.17 0.21
without profit 6555.07 20014.49 2649443 13842771 63697.72 200708.45
2 General Annuity
with profit 0.00 0.00 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0.00 0.00
3 Pension
with profit 0.06 0.01 5 7 0.00 0.00
without profit 1211.42 3990.98 428004 1376877 568.29 2771.26
4 Health
with profit 0.00 0.00 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0.00 0.00
B. Sub total 7766.68 24005.48 3077513 15219661 64267.18 203479.92
C. Total (A+B) 24409.15 30691.12 17108711 27030621 205644.43 342124.61
Riders:
Non linked
1 Health# 2.61 1.60 14700 8380 200.72 112.92
2 Accident## 4.91 2.92 293903 153118 4922.01 2422.66
3 Term 0.36 0.15 5979 2685 65.40 28.16
4 Others 13.44 9.65 3941 1007 2081.16 1338.07
D. Sub total 21.32 14.32 318523 165190 7269.30 3901.81
Linked
1 Health# 3.85 2.51 10888 6872 352.66 280.77
2 Accident## 4.61 16.02 103207 139851 6012.25 7845.29
3 Term 0.62 0.27 6909 5263 142.17 87.69
4 Others 0.89 0.85 15414 3030 351.45 1879.46
E. Sub total 9.96 19.65 136418 155016 6858.53 10093.22
F. Total (D+E) 31.28 33.97 454941 320206 14127.82 13995.02
G. **Grand Total (C+F) 24440.43 30725.10 17108711 27030621 219772.25 356119.63

** for policies Grand Total is C.

FIRST YEAR PREMIUM OF LIFE INSURERS UP TO THE MONTH OF DECEMBER 2007

GROUP SINGLE PREMIUM (INCLUDING RURAL & SOCIAL) (Rs.in Crore)
Sl. PREMIUM NO
NO.. OF SCHEMES LIVES COVERED
COVERED SUM ASSURED
No. PARTICULARS Dec’2006 Dec’2007 Dec’2006 Dec’2007 Dec’2006 Dec’2007 Dec’2006 Dec’2007
Non linked*
1 Life
a) Group Gratuity Schemes
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 1030.80 1087.61 1250 1259 483164 573746 2660.90 8358.80
b) Group Savings Linked Schemes
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 22.88 7.35 564 416 106522 74391 1363.16 798.21
c) EDLI
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 3.82 4.26 745 672 655287 642626 2011.31 14134.39
d) Others
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 4247.81 1970.74 11031 13196 9086298 14859071 203924.48 260298.48
2 General Annuity
with profit 513.28 587.72 7 4 1972 965 0.00 0.00
without profit 401.78 1352.89 45 57 5196 6502 0.00 0.00
3 Pension
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 467.33 1358.34 123 313 77055 202968 0.00 0.00
4 Health
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
A. Sub total 6687.70 6368.93 13765 15917 10415494 16360269 209959.85 283589.88
Linked*
1 Life
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 50.32 148.42 24 71 82961 54909 46.64 242.14
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
c) EDLI
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
d) Others
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 9.13 7.73 2 1 5078 435 0.51 0.04
2 General Annuity
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
3 Pension
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 56.29 92.65 10 18 8356 48137 0.00 0.00
4 Health
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
B. Sub total 115.75 248.81 36 90 96395 103481 47.15 242.19
C. Total (A+B) 6803.45 6617.73 13801 16007 10511889 16463750 210007.00 283832.06
Riders:
Non linked
1 Health# 0.21 0.15 10 12 4582 6980 4106.35 379.88
2 Accident## 0.24 0.13 26 30 12244 26778 14051.06 460.89
3 Term 0.00 0.00 0 0 0 0 0.00 0.00
4 Others 0.00 0.00 0 0 0 0 0.00 0.00
D. Sub total 0.45 0.29 36 42 16826 33758 18157.42 840.77
Linked
1 Health# 0.00 0.00 0 0 0 0 0.00 0.00
2 Accident## 0.00 0.00 0 0 0 0 0.00 0.00
3 Term 0.00 0.00 0 0 0 0 0.00 0.00
4 Others 0.00 0.00 0 0 0 0 0.00 0.00
E. Sub total 0.00 0.00 0 0 0 0 0.00 0.00
F. Total (D+E) 0.45 0.29 36 42 16826 33758 18157.42 840.77
G. **Grand Total (C+F) 6803.90 6618.02 13801 16007 10511889 16463750 228164.42 284672.83

** for no.of schemes & lives covered Grand Total is C.

FIRST YEAR PREMIUM OF LIFE INSURERS UP TO THE MONTH OF DECEMBER 2007

GROUP NON- SINGLE PREMIUM (INCLUDING RURAL & SOCIAL)
NON-SINGLE (Rs.in Crore)
Sl. PREMIUM NO
NO.. OF SCHEMES LIVES COVERED
COVERED SUM ASSURED
No. PARTICULARS Dec’2006 Dec’2007 Dec’2006 Dec’2007 Dec’2006 Dec’2007 Dec’2006 Dec’2007
Non linked*
1 Life
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 48.77 72.97 26 40 45067 53959 173.62 281.64
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 20.61 50.39 0 2 222323 334494 4154.15 3262.51
c) EDLI
with profit 0.00 1.04 0 97 0 107448 0.00 963.15
without profit 4.21 1.74 178 142 275170 165185 2271.11 1543.01
d) Others
with profit 0.00 28.34 0 134 0 325588 0.00 8445.85
without profit 171.24 120.16 887 601 2121899 1942586 41992.99 41685.79
2 General Annuity
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
3 Pension
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.91 8.79 3 2 68 86 0.06 0.00
4 Health
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
A. Sub total 245.74 283.42 1094 1018 2664527 2929346 48591.92 56181.95
Linked*
1 Life
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 200.82 281.48 203 255 173072 417711 1739.08 2660.87
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 2.26 0 19 0 5351 0.00 74.51
c) EDLI
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
d) Others
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 5.31 25.78 10 13 152 2725 1.37 9.60
2 General Annuity
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 35.81 14.99 5 8 1743 1090 35.81 14.99
3 Pension
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 199.46 248.38 103 126 48085 53405 0.00 0.00
4 Health
with profit 0.00 0.00 0 0 0 0 0.00 0.00
without profit 0.00 0.00 0 0 0 0 0.00 0.00
B. Sub total 441.41 572.88 321 421 223052 480282 1776.26 2759.97
C. Total (A+B) 687.15 856.30 1415 1439 2887579 3409628 50368.19 58941.92
Riders:
Non linked
1 Health# 0.18 1.38 12 22 5654 13775 241.70 953.65
2 Accident## 0.32 0.57 26 29 17996 43921 908.49 1738.36
3 Term 0.00 0.01 1 1 95 61 2.93 0.63
4 Others 0.00 0.01 4 6 3571 1774 198.24 252.17
D. Sub total 0.51 1.97 43 58 27316 59531 1351.36 2944.81
Linked
1 Health# 0.00 0.00 0 0 0 0 0.00 0.00
2 Accident## 0.49 0.31 37 35 23609 20788 1373.69 568.11
3 Term 0.00 0.00 0 0 0 0 0.00 0.00
4 Others 0.00 0.00 0 0 0 0 0.00 0.00
E. Sub total 0.49 0.31 37 35 23609 20788 1373.69 568.11
F. Total (D+E) 1.00 2.28 80 93 50925 80319 2725.05 3512.92
G. **Grand Total (C+F) 688.14 858.58 1415 1439 2887579 3409628 53093.23 62454.84

** for no.of schemes & lives covered Grand Total is C.
$ Reflects revised data submitted by ICICI Prudential Life Insurance Company Ltd.

vantage point
The New Face of

Life Insurance Products
'IN INDIA, THE ENDOWMENT PRODUCTS HAVE BEEN VERY DOMINANT IN LIFE INSURANCE MARKETING, OWING TO THE
PSYCHOLOGY OF THE AVERAGE INDIAN. MORE RECENT TRENDS INDICATE THAT THERE IS A BETTER BALANCE IN INSURERS'
PORTFOLIO BUT THERE STILL IS A CERTAIN TILT TOWARDS THE SAVINGS COMPONENT IN LIFE INSURANCE PRODUCTS'
OBSERVES U. JAWAHARLAL.
L
ife insurance is a mechanism by system which had strong roots in India was to set at naught the misgiving associated
which the dependents of an earning also partially responsible for life insurance with some of these products if the levels
member of a family are protected not being very successful. As a natural of business growth are to be sustained over
from being orphaned due to his or her corollary of all the above factors, term a period of time.
untimely demise. If all the earning insurance that provides plausible answers The rapid growth of riders has been
members of the society provide for to many of the risks never really took off another major development in product
sufficient amount of life insurance during in the Indian insurance domain. Because designing in life insurance. Although a few
their active earning period, it would lead of the inherent maturity values, aided by of the riders existed even before the
to an ideal situation whereby the families the tax concessions given by the state; market was opened up, the real utility of
would continue to maintain the same endowment products in life insurance have these add-ons came to be experienced in
standard of living, although the emotional ruled the roost. Though there has been the liberalized regime. By providing the
loss would be hard to obliterate. But some correction in this lopsided trend, possibility of mixing up a few options with
such a scenario would pre-suppose a of late, the average Indian psyche a base product, these riders have come to
much higher understanding of the continues to be heavily in favour of be seen as customized solutions. It is hoped
benefits of insurance that is still a distant endowment products. that with a little more rise in the awareness
cry in several under-developed and levels, riders in life insurance products will
A significant development in the more
developing economies. occupy a very important place in the
recent times is the genesis and evolution
marketing of life insurance.
In India, historically, life insurance has not of market-related products in life
been given the due importance and it has insurance. Supported by a buoyant market, The focus of the next issue of the Journal
been even dubbed as 'widow's money' that these products have been a runaway will be on 'Life Insurance Products'. Several
is paid only when the head of the family is success; and life insurers have largely practitioners and others associated with
no more. Thus it has been associated with capitalized on this boom to register an the industry will be discussing the various
an inauspicious event and hence looked unprecedented level of growth in their aspects related to product development
down upon. Besides, the Joint Family business figures. The players would do well and growth.
Life Insurance Products

for
varying needs
in the next issue...

issue focus
Farewell to Marine
CAN WE AFFORD IT?
SIBESH SEN WRITES THAT ALTHOUGH THE CLAUSES IN A MARINE INSURANCE CONTRACT ARE STEEPED IN JARGON AND MAKE
COMPREHENSION QUITE DIFFICULT, IT STILL PROVIDES THE ULTIMATE COVERAGE AGAINST THE PERILS OF THE SEA THAT IS
SO VITAL FOR TRANS-NATIONAL BUSINESS TO BE CONDUCTED.
H
aving been associated with marine had many an additional exclusion, a list of farewell to marine cargo insurance and live
cargo insurance for nearly two warranties and conditions that had to be a better life.
decades, I wonder why people take strictly complied with; and various limits
I am no Buddha, or Mahavira who can give
this insurance. They say that all policies and deductibles. All this makes a mockery
you the Four Noble Truths and the Eight
are to be read and understood in plain of the term ‘All Risks’. I have told my
Fold Path or the right way to life but
simple English. How many of us have read clients how wonderful the All Risk wordings
suggest the Ten Commandments which if
the same? When it comes to understanding are and how it shifts the onus of proof onto
followed saves you - the consumer - the
the language, it is far from simple and the insurance companies to disprove
premium, no matter how small the figure
plain. Despite the fact that 99% of all claims. When the loss does happen, the
it may have become; helps you control your
policies issued are on so called “All Risks” lens comes out; and the six sigma of who,
destiny rather than believe in a promise
basis, every document that I have framed how, when, where, what and which comes
called Policy; and saves you the pillar to
to the fore. Welcome to the real world.
post fight for claims. Each commandment
War claims - I have seen once during the is followed by a T3 or Time Tested Truth.
Iraq-Kuwait war and yet we charge
premiums diligently for all shipments. Ten Commandments
Most vessels Terrorism claim has hardly ever been • Thou shall know your sale terms.
encountered. General Average claims even
flutter the flags of insurers hardly understand. Both to Blame,
• Thou shall know your trade and take
utmost care of manufacturing of goods.
convenience out I’ve never fathomed why the line is there.
• Thou shall pack your goods well.
of necessity and Last insolvency of ship owners was seen
almost fifteen years ago. Most vessels • Thou shall choose your carrier carefully.
yet the archaic flutter the flags of convenience out of • Thou shall be aware of stowage and
insurer wants necessity and yet the archaic insurer wants lashing of cargo; and use pre-shipment
extra premium for extra premium for such things. Most claims loading surveys.
end up non-standard for want of so called
such things. Most • Thou shall know time frames and your
recovery rights. Others end up in disputes rights against the carriers.
claims end up where insurers make you feel they know
• Thou shall know the best way to reach
non-standard for everything from how your goods ought to
the goods.
be packed to which vessel is ideal for you
want of so called • Thou shall act with reasonable dispatch
to carry the goods in. In many instances
recovery rights. the request for documents comes in and avoid delays.
batches, each time the list gets finer and • Thou shall try and minimize losses.
claim gets further from your sight. Enough • Thou shall create a fund to take care of
of this mirage called marine. Let us bid contingencies.

issue focus
Let me give you some examples of how of repute. Pack it up for the worst leg of
best to make use of the Commandments. the journey!
• Terms of Sale: Read the Incoterms and • Selection of Carrier: Do not go for cheap
know your sale terms well. Ideal freight, for a little saving may end up in
situation in any condition is to sell Ex- losing big money over goods either never Each of the
Works and buy CIF. The term CIF has reaching or reaching in damaged carriers is
many a pitfall if not understood. Many a condition. Remember the goods once
times the CIF cover ends at port of damaged are irretrievably lost and a
statutorily
discharge - most imports into India national waste. No claim can get you governed by an
insured by the overseas seller rarely back to the original position. History and Act or Convention
cover the tail end inland transit. Think experience have shown that only a small
whereby they can
what you would do if faced with such a minority of claims are caused by force
scenario - try, beg and borrow but unless majure. A huge majority is caused by be held
the Indian insurer is a moron, you will human errors; and truckers and carriers accountable for
get a candy that’s bitter. In short, a Basic are the worst culprits. Check with some
any loss or
Cover policy where loss or damage bankers and insurers on the list of good
arising out of accident to carrying vehicle road transporters. Check if the vehicle damage to the
is covered in addition to fire and is fit, clean and capable of carrying the goods whilst in
lightning risks. Shift the risk and save goods. Check if the truck is covered with their custody.
the trouble! a tarpaulin with no holes and cuts. Do
• Take care of your goods: The goods are the light test for containers, for leaking
yours and loss, if any, would also be yours roofs are a perennial source of wet
only. Make sure while manufacturing and damages. Check the vessels when the
processing of goods, all care is taken to shipment is for bulk or break bulk
ensure the right coatings of oil for shipments. You will be surprised how
much you can know - from owner details, five high against an approved load
ferrous products, the humidity factors
to sister ship to detention history and bearing capacity of packing which was
are well controlled for edible and leather
the mundane data of class, GRT and flag. three high. When dealing with bulk, over
items; for all insurers will turn down
Most importantly, check if the vessel is dimensional and precious cargoes, I
losses which can be attributed to
classified by an approved society and is would strongly recommend paying the
inherent vice of the subject matter
a member of one of the reputed P&I loss control surveyor who shall take care
insured. Learn from history and make
clubs - for this will make the difference of loading, handling claims and stowage
sure adequate precautions are taken to
between recoveries if a claim were to adequacy. Safety first and last!
avoid normal losses!
occur enroute. With air shipments, so • Know Rights against Carriers: Each of the
• Packing: Many a claim has been turned
far all airlines are deemed fairly good. A carriers is statutorily governed by an Act
down where the surveyors questioned
good carrier is a better carrier of risk or Convention whereby they can be held
the dryness of the wood used for packing
than the best insurer! accountable for any loss or damage to
and palletization; many more have been
• Stowage, Lashing & Surveys: It is not the goods whilst in their custody. Ask
questioned for usage of right materials
enough to select a good carrier but your friendly insurer to give you a snap
for packing and its adequacy and
essential to ensure the goods are stowed shot of the time frames within which
sufficiency. It’s your world and you know
properly. Many a steel coil has broken claims need to be notified to the errant
how best to pack the goods but the
free and damaged both the cargo and carriers and if pursued properly what is
thumb rule is that packing should take
the container, many a machinery has got the maximum recovery possible. While
care of normal rigors of the voyage
damaged due to carrier not doing proper the process and recovery prospects are
intended. Do not ever think that getting
dunnage to avoid gaps and prevent never a spark that lights up the insurer’s
claims arising out of jerks and jolts are
movement during the rolling and pitching life, you could do better by entering into
a matter of right. Use the right material,
movement of a ship and many a claim contracts with your regular carriers in
give it the right coatings, use
has been reported and turned down the inland leg holding them accountable
dehumidifiers where applicable and use
where the container was stuffed at for losses and making them either pay
time tested methodology or one
warehouse but the goods were stowed directly to you or forfeiting the accrued
approved and certified by an institute

issue focus
freight. You will see how quickly the major accidents. For taking care of the
losses come down. Spare the rod and large and non controllable losses, many
spoil the brat! a company which takes on to self
• Voyage: If you thought taking a truck insurance creates a contingent fund. This
through Bihar and Eastern UP is fraught corpus will take time to build and be big
with danger, try Latin America and you
Do remember enough to take care of all your
will soon realize how our country folks that many a contingencies. For starters, put aside the
amount of premium you would have
will look like kindergarten kids against commodity fetches spent on marine insurance plus an extra
the big bad Latino boys. Understand your
logistics and guide the carrier how to
good salvage value 25% into this fund and grow it and face
avoid difficult terrain; and if going to provided you know the consequences of your decision. Save
for a rainy day!
those areas is a necessity, what how to find the
precautions to take. Take the case of a
photographic film manufacturer who
right people to The one line which summarizes all the
Commandments for the consumer is Act
stopped recurrent claims when he asked assist you with the As If Uninsured and all the rest will seem
the carrier to move the goods during day activity. Every logical, acceptable and doable.
time only and avoid any night halts for
penny saved For all the still unenlightened souls who
the movement from Bhimtal to Noida.
Buy yourself an atlas before you get lost! adds to your sat under the Banyan Tree with me and
cannot control the terms of sale to their
• Act with Reasonable Dispatch: Crucify bottom line.
liking; cannot do an outsourcing of
me if you want but this is a straight cut
packaging activity; cannot find the good
paste from the cursed clauses referred
guy called carrier; unable to trace qualified
by me in the beginning. But since no
supervisory surveyors; know the law but
other term genuinely brings forth the happen, do everything possible to
find it cumbersome and feel fighting
true meaning, the piracy is intentional. minimize the loss and stop its
insurers is simpler than taking on the
What this term means is that avoid aggravation - whether it means spending
trucker and ship owner; may have failed
delays of any kind, for we have seen extra money on cranes, closed storage
in geography in school and continue to fail
more losses happening when the goods spaces, salvage expense and arranging
in the maze game on the computer to be
were stationary and movement delayed for quick disposal of the residue. Do
able to judge the routes; and has a
or deferred due to any reason. Think remember that many a commodity
nightmare of any large catastrophic losses
where the goods will be stored in case fetches good salvage value provided you
happening and the captive fund crumbling
of any delay- transporter’s godown, port know how to find the right people to
- there is hope.
or CFS. None of these are truly safe assist you with the activity. Every penny
locations for your valuable goods. A good saved adds to your bottom line. Just a This hope floats - on sea. Go Get Yourself
transporter wants quick turnaround time word of precaution about salvage Insured. Take a marine cargo policy - it is
and will not store unless payments are operations- act with reasonableness. Do pretty cheap, covers more than it excludes
held up - select a good carrier. Pay your not spend good money after bad knowing and we marine insurers are pretty good
customs duty well in advance to avoid fully well in many a case salvage may be blokes who try hard to pay the claims. The
goods getting stored in port premises futile or the recovered goods may be saving grace in this unreasonable world is
which is the breeding ground of all unfit for the purpose intended and marine insurance. It is your only ally in
mobsters; further, even if you had an probable salvage value may not be rough seas.
insurance please remember no claims sufficient enough to venture in. What From ‘Farewell to Marine’ to ‘Welfare
would get paid if delays were voluntary you save so you reap! in Marine’ is a journey etched in the sands
or any loss occurs due to deterioration • Captive Fund: Losses are of many kinds of time.
of goods due to delay, even if the delay - some small, some large. Small ones you
were to be caused by an insured peril. may load onto the carriers or bear it
He who hesitates gets lost! yourself with a slight murmur but the
• Loss Minimization: Firstly, avoid losses larger ones will hurt you badly. Then
The author is Head, Mumbai Operations,
from happening but for some reasons there are controllable losses and others Tata-AIG General Insurance Company
beyond your control the loss does beyond your control like floods and Limited.

issue focus
Musings of
a Marine Insurance Practitioner
CHALLENGES UNLIMITED
ALICE G.VAIDYAN OBSERVES THAT ALTHOUGH THERE ARE HUGE CHALLENGES ASSOCIATED WITH MARINE INSURANCE, IT
DOES NOT CEASE TO BE A CLASS THAT UNDERWRITERS CONSIDER CLOSE TO THEIR HEARTS.
T
he oldest branch of insurance, studies by themselves, leave alone the York small mechanical failure, can lead to a
marine insurance with its intricate Antwerp rules and the Rules of Practice of disaster that results in the loss of ship and
layer of risks is a fascinating the Average Adjusters Association. The thin its cargo; and can potentially create huge
business. I would personally like to believe line of demarcation between Sue & Labour damage to the marine environment.
that marine insurance still retains a slice charges; and Salvage charges are as mind
Given the volatility of marine business, it
of that old world charm which makes it boggling as the nuances of a general
is difficult to predict the results for any
enchanting and endearing to a marine average guarantee and salvage security.
year. After a couple of benign years, in 2007
insurance practitioner. As you delve into One has to deal with an additional Average
the international marine market suffered
its myriad facets, you get caught up in a Adjuster’s Report along with the Surveyor’s
a series of major losses with the claims on
world of mystery - of sea voyages, Report while scrutinizing hull claims for
the Hull and Machinery side alone, crossing
adventures of the seas and unknown claims apportionment. The Carriage of
treasures of the sea kingdom. That should Goods Act and Hamburg /Hague Visby Rules
perhaps explain the timeless appeal and along with the Marine Insurance Act provide
intrigue of the marine insurance business. an interesting study as well.
Marine insurance practitioners do take
The sheer size and the enormity of the risks
pride in the oft remarked statement that
in a marine voyage has always intrigued
a marine underwriter is a true underwriter
me. It is the high concentration of values
because he has to grapple with various
and the severity of losses that should
factors ranging from the geography of the The thin line of
determine the pricing rationale. All
place, infrastructure of ports, shipping
underwriters, particularly the newer demarcation
laws, maritime conventions, the nature of
commodities, mode of packing and
players need to be aware of the swiftly between Sue &
changing risk profile. We now have
transportation; to that of the type/ year Labour charges; and
cruiseships bordering on 6000 passengers
of built / GRT and class/Protection &
and the new generation of containerships Salvage charges are
Indemnity (P &I) of the vessel.
having capacity of 13500 teu. These as mind boggling as
Conceptually, marine insurance is different massive vessels represent huge risk
from other branches of insurance, in many exposures per keel. Today’s ships are bigger
the nuances of a
ways. Which other class of insurance pays and infinitely more complicated. There general average
more than the Sum insured for the same are many more at sea and their cargoes guarantee and
casualty or pays successive losses without are much more varied and frequently more
reinstatement during the same policy dangerous than before. A simple
salvage security.
period or pays ‘new for old’ at the time of breakdown in any of the microsystems
loss? More interesting are the general essential to the operation of a modern ship,
average situations which form complex such as a misunderstood command or a

issue focus
on unfamiliar routes also meet with - discipline in the marketplace, selective

casualties. This brings us to the most and thorough assessment of risks
critical issue being debated in marine underpinned by realistic, but fair pricing
circles today - the alarming shortage of of the insurance products we offer.
A realistic analysis of qualified sea farers. With a diminishing
The world is partial towards Marine
marine casualties pool of experienced crew, human error
insurance practitioners who are judged
would also point out casualties loom large. Thus, human error
mainly on the relative small size of marine
and lack of nautical expertise results in
that it is not the old avoidable accidents. Last year, the
insurance premiums, while the
complexities and intricacies of marine
vessels alone that get International Union of Marine Insurance
insurance business are sadly ignored. It is
grounded or suffer (IUMI) conference at Copenhagen focused
true that marine is only responsible for a
on the technical, financial and human
losses, even the challenge for marine insurance.
small percentage of a composite insurer’s
premium income, but the success of an
relatively new vessels
The golden rule for an underwriter is not insurance operation is not really measured
with not-so- knowing how to take risks, but how to by premium income but by result - or loss
experienced masters accurately evaluate them, so that when potential. And here marine, being exposed
all the underwritten risks are added to natural perils, liability issues and typical
on board and on together, the result is a favourable balance accumulation in ports and on vessels, plays
unfamiliar routes at any year end without exception. For an important role.
also meet with insurers the premium base has increased
In this context, it is interesting to note that
only as a consequence of the addition by
casualties. clients of new building, and of ship value
insurance is an ageing industry and must
compete with other financial sectors, often
increases. The current premiums and rates
glossily attractive, in order to identify and
are not sufficient to meet huge claims. One
retain the best brains. It is also a sad fact
of the problems with the marine insurance
that regrettably, the insurance industry is
market today is that there is enough
not perceived or regarded as highly as
capacity and too many providers and too
other financial services and professions;
many risks underwritten on myths and poor
and cannot match the salaries and perks
data. It is essential to have a qualified
they offer. Hence it is a real challenge to
USD 700 million. However, the increase in data base and knowledge about the
manage the complex issues thrown at us
the number and severity of major claims products, as the products change character
almost constantly which require
reflects the significant growth in shipping rather fast.
experienced and trained professionals. To
traffic in areas of intense navigation such
The Indian marine insurance market is still end on a more cheerful note, in spite of
as ports, straits and estuaries or is linked
going through a stage of upheaval. The all the problems besetting the commercial
to climate changes causing worsening
cargo insurance market detariffed in 1994, marine market, a marine insurance
meteorological conditions. Claims cost has
though fairly stabilized, is yet to see prices practitioner should retain some optimism
also spiralled due to hike in steel prices
on par with international market rates, to survive. There is a lot going forward that
and repair costs coupled with scarcity of
mainly because the market is already will give the marine insurance practitioner
yard capacity and high price of oil.
attuned to the present levels of premium. a bumpy yet greatly interesting ride.
Shipyards are at full capacity and the
However, improved conditions in
waiting time for repairs is often several
transportation and trade have brought
months with a concomitant increase in
down the claim ratios making it profitable
prices. Though attritional claims have
even at these low premium rates. Marine
moderated, and the frequency of loss is
hull insurance, on the contrary, may not
stable, the premium rating development
spell the same story. Marine hull insurance
has been flat since 2005.
detariffed in 2005, has seen alarmingly low
A realistic analysis of marine casualties rates, a far cry from international hull
would also point out that it is not the old rates, where joint hull committees agree
vessels alone that get grounded or suffer on minimum hull rates. The volatile hull
The author is Chief Manager, Marine Dept.,
losses, even the relatively new vessels with market has to pay huge hull claims from The New India Assurance Company Limited,
not-so-experienced masters on board and the low premium funds. So, back to basics Corporate Office, Mumbai.

issue focus
Coverage in Marine Insurance

ISSUES OF CUSTOMER CONCERN
‘MARINE INSUANCE IS A COMPLEX ISSUE WHEN IT COMES TO INTERPRETATION AND APPLICABILITY OF CLAUSES. THIS
NECESSITATES THAT THE INSURED AS WELL AS THE INSURERS HAVE TO FULLY UNDERSTAND THEIR ROLE IN THE TERMS OF
THE CONTRACT’ SAYS G.V. RAO.
T
his article aims to discuss a few sections 23, 33, 54 and 86 that elaborate What the Insurance Act says
issues of concern to users of marine the position on premium payment. Section Section 64VB (1) of the Insurance Act says:
policies in India, in respect of the 23 says: “a contract of marine insurance “No insurer shall assume any risk in India
imports and exports of their cargoes. An is deemed concluded when the proposal in respect of any insurance unless and until
exclusive Marine Insurance Act enacted in of the assured is accepted by the insurer, the premium payable is received by him…in
1963 is designed to guide them on the whether the policy be issued or not; … advance in the prescribed manner”.
practices to be followed in the transaction reference can be made to the slip, cover Section 64 VB (5) says: “The Central Govt.
of marine insurance businesses of hull, note—although unstamped?” may, by rules, relax the requirements of
cargo and freight. They have also, in sub-section (1) in respect of particular
addition, to fulfill the provisions of Section Section 33 says: “Where an insurance is
categories of insurance products.
64VB of the Insurance Act 1938 on payment effected at a premium to be arranged, and
of premium in advance of risk no arrangement is made; a reasonable
commencement. The voyages undertaken premium is payable. Where insurance is
are subjected to specific ICC clauses, effected on the terms that an additional
defining inception and termination of premium is to be arranged in a given event,
insurance covers, and the perils insured and that event happens and no
against. Compliance with so many arrangement is made; then a reasonable Where insurance is
premium is payable”.
enactments does not come easy to anyone effected on the terms
involved in the process.
Section 54 says: “Unless otherwise agreed, that an additional
the duty of the assured … to pay the
We will discuss the specific issues premium is to be
concerning premium payment and premium and the duty of the insurer to
issue the policy… are concurrent
arranged in a given
commencement of risk; and a case
involving a marine cargo fraud committed conditions. The insurer is not bound event, and that event
by a ship-owner to the detriment of the to issue the policy until payment of happens and no
the premium”.
cargo shipper involving a shipment arrangement is
between Thailand and Senegal, as an
Section 86 says: “Where any right, duty, made; then a
illustration. South East Asia,
internationally, is regarded as notorious for
or liability would arise under a contract of reasonable premium
marine insurance by implication of law, it
phantom ship frauds. Let us discuss the is payable.
may be negatived or varied by express
premium issue first.
agreement, or by usage; if the usage
What the MI Act says on premiums be such as to bind both parties to
The Marine Insurance Act 1963 has four the contract.”

issue focus
The Govt. has specified a rule 59 (k) under or open covers, if the premiums collected
64VB (5) permitting relaxations for a midway are found insufficient, is the
variety of risks. Unfortunately, these are marine cover off or it is yet on? More so,
not popularized among the insuring public. as it is for the insurer to keep tabs on
In respect of marine cargo imports, the risk premium, and it is his responsibility to keep
may be assumed subject to the condition the cover not going, as the 64VB (1) is made Rule 59 (b) says
that the premium shall be paid within 15 more mandatory on the insurer than on
that policies
days of the receipt of declaration in India the insured?
from the insured’s representative overseas. issued to Govt.
For exports overseas, risk may be assumed
Marine policies are still transacted by and Semi-Govt.
insurers as Open Covers, Open Policies,
subject to the condition that the premium
specific marine policies and individual
bodies may be
shall be paid within 15 days from the date
marine certificate issued under the Open issued subject to
of sailing of the overseas vessel.
Covers/ Policies. Open Covers are broad an undertaking
Rule 59 (b) says that policies issued to Govt. agreements guaranteeing automatic cover by the proposer
and Semi-Govt. bodies may be issued to the insured and defining only the terms
subject to an undertaking by the proposer thereof. Open Policies, however, define the
to pay the
to pay the premium within 30 days of the Sums Insured assured for a series of transits premium within
premium amount to be paid. There is a to be made in course of time. Sometimes 30 days of the
lack of public awareness of the rules of the sums insured get exhausted, and at premium amount
the 64 VB (1) relaxed by the Govt. in other times the premiums already paid get
respect of various relaxations on payment exhausted, with the sums insured not
to be paid.
of premium in advance of risk assumption getting exhausted.
by insurers.
How does one reconcile the apparent Resolution needed

contradictions in regard to the payment This ambiguity on premium payments as that carries their insured cargo. ‘Phantom
of premium, as described in the Marine described in the MI Act and Insurance Act ship’ frauds are more common in South East
Insurance Act, as described in the must be addressed and settled by the Asia than elsewhere. Even insurers have
Insurance Act and the relaxations General Insurance Council of non-life to be on guard, as primarily claims would
permitted by the Govt.? Apparently, the insurers without taking the issue to courts be lodged on them by the insured.
Insurance Act is seen as binding on the for decisions. The guidance of market
In one instance, a ship carrying rice from
insurer only, and not necessarily on the conduct is one of the duties ascribed to
Thailand to Dakar port, Senegal instead of
insured. The Insurance Act is to regulate the GI Council. The onus of collection of
sailing for the destination as declared in
the functioning of the insurer and his adequate premium is on the insurers
the policy, after loading of the cargo, just
market conduct. Any prejudice against any according to Section 64VB. But the courts
disappeared and cargo was never
of the provision of the Insurance Act should in their recent judgments have tended to
delivered. What are the rights of the cargo
not be foisted on the insured customers. take side with the insurers, even for their
insured? The Transit clause 8 of the ICC
deficient operational systems. This legal
The simple question to be answered is: (A) provides that “the insurance attaches
lacuna should be fought and reversed.
whose responsibility is it for the collection from the time the goods leave the
Once a policy is issued, the onus of
of the premium in advance for a cover to warehouse or place of storage at the place
collection of premium should be foisted
be in force? This provision, as can be seen named (herein) for the commencement of
on the insurer and not on the insured.
from above, does put the responsibility on the transit”. Section 44 of the MI Act of
the insurer only. Note the words…no insurer the UK provides: “…where the destination
shall assume…. When one has assumed a Marine Insurance Frauds is specified in the policy, and the ship,
risk and issued a marine policy, on whom Those insured engaged in imports and instead of sailing for that destination, sails
does the onus for collecting additional exports have another reason to be for any other destination, the risk does
premium lie? In the case of open policies concerned about - the selection of the ship not attach”.

issue focus
argued in a London Court that the transit The shippers and the cargo purchasers; and
clause in ICC (A) should be interpreted to the banks that financed the deal should
override Section 44. Once the transit has be cautioned to be on their guard against
attached under clause 8, it surely cannot such a possible fraud by a phantom ship,
un-attach, even if the vessel sailed to a particularly in South East Asia. The writer
If the court destination different from the one recalls of another notorious case in early
determines that, at specified in the policy. eighties of ‘Averilla’ and ‘Odhai’ in which
the time sailing of a It was, however, held by the court that the
New India was sought to be the one to be
defrauded. It was a case of two shipments
vessel and cargo transit clause 8 was only an example of
between Singapore and an African port and
were in truth bound the extension of a marine policy to any
covered by the New Delhi office of New
land risk incidental to any sea voyage.
for a terminus other India that did not know any of the parties
But such an extension does not alter
than that identified the fundamental nature of a marine
involved in the transaction! The vessel
sailed, sold the cargo and sank off the coast
in the policy as voyage policy, which is to cover a
of Sri Lanka.
definitive of the marine adventure defined by its two
marine termini.
voyage insured, then
Final word
Section 44 will apply The Judge opined that while the transit
The issue of insufficiency of premium in
and the risk which clause addresses the duration of insurance,
marine open covers and open policies is
always assuming the risk has in fact
prima facie attached too important a matter to be left only to
attached, Section 44 deals with the
when the goods left fundamental issue of whether the
insurers, who would always want to play
safe. The relatively worse sufferers are
the warehouse will in insurance itself has attached. If insurance
those from the public sector enterprises
the event be held as has not attached, there is no question of
that have deficiencies in their operational
attachment of duration of insurance. The
not attached. systems and are at the losing end.
Judge quoted “If the court determines
A solution on this issue is long due.
that, at the time sailing of a vessel and
cargo were in truth bound for a terminus
other than that identified in the policy as
definitive of the voyage insured, then
Section 44 will apply and the risk which
The cargo insured in Thailand under the prima facie attached when the goods left
marine insurance policy was subject to the warehouse will in the event be held as
The author is ex-CMD, Oriental Insurance
English law and practice. The insured not attached”. Co. Ltd.

issue focus
Protection & Indemnity Insurance

SOME INTERESTING FACTS
NANDITA BANERJEE OPINES THAT IN VIEW OF THE HIGH AMOUNTS INVOLVED, HULL INSURANCE ALONE WOULD NOT PROVIDE
SUFFICIENT COVERAGE FOR THE VESSEL OWNERS; AND IT IS EXPECTED THAT THEY OBTAIN MEMBERSHIP OF ONE OF THE
ESTABLISHED P & I CLUBS.
T
he subject of Shipowners Mutual • What are P&I Clubs? ♦ Historically, ship owners required
Insurance Associations i.e. The Clubs are associations of shipowners cover for a quarter of their liability
Protection & Indemnity Clubs (P&I and charterers, owned and controlled by for material damage done in collision
Clubs) has always evoked keen interest the insured shipowners or charterer with another ship or vessel as this is
amongst the insuring fraternity. Much “Members”. They operate on a non- normally excluded from the scope of
can be said about the significant role profit making mutual basis. The Members cover of the Collision Clause under the
in the maritime sector that is played by pool their resources together in order standard marine hull covers.
P&I Clubs. to meet losses suffered by each
♦ They also required cover for liability
individual. The members are thus self- in respect of loss of life and/or
Hull insurance in itself would not afford
insured and the shipowner could be said
adequate cover for the extensive range of
to be both the insurer and the insured.
liabilities incumbent on a vessel owner.
Considering the large amounts at stake, it • How do P&I Clubs function?
is expected that vessel owners would not Each Member contributes in maintaining
only obtain hull insurance cover at a fund from which losses suffered (if any)
competitive terms, but would also are made good. The initial contribution
definitely obtain liability cover from an of a Member is based on vessel tonnage
An increase in
established P&I Club for their vessel. of the insured vessels entered with
the Club.
maritime commerce
An increase in maritime commerce and international
and international conventions and The basic principle is that the
contributions or “calls” paid by the conventions and
statutes stipulating the liabilities of
shipowners, has led to the need for Member in a year should be sufficient to statutes stipulating
commensurate protection. This, in turn, meet all the claims, reinsurance and the liabilities of
administrative expenses of the Club for
has led to the development of mutual shipowners, has led
insurance organizations alongside the year.
to the need for
conventional insurance.
• How did P&I Clubs develop? commensurate
They developed from the 19th Century
Rather than approach the matter from a
onwards to provide protection to
protection.
purely academic perspective, an attempt
has been made to address the salient shipowners against risks not covered by
features through brief answers to marine insurers. These risks comprised
FAQs (Frequently Asked Questions) on liabilities which are quite diverse in
the subject. their scope.

issue focus
personal injury, for damage done to exception of oil pollution, the Clubs
immobile objects such as dock walls, afford unlimited liability cover for their
jetties, quays etc. and also claims in members claims.
respect of cargo or engagements of the
Clubs assist Shipowners in dealing with
insured vessel. Traditionally, every aspect of a casualty, from finding
• Which are the major P&I Clubs? 20th February was experts to deal with the immediate
13 P&I Clubs and their affiliates make the date when the casualty; to legal advice and paying
up the INTERNATIONAL GROUP OF P&I Baltic Sea became claims. As part of their services, they
CLUBS. Approximately 90% of all the normally have local port correspondents
worlds merchant tonnage is entered with
ice-free and at all major ports and in the event of an
these Clubs. The Clubs are variously vessels that had incident, the Master of the Member’s
based in different locations and been laid up vessel directly contacts them. The
countries such as London, Bermuda, during the winter Club correspondents have to be
Scandinavia, Luxembourg, the United knowledgeable in P&I matters and to
months
States and Japan. have good contacts with the authorities
commenced as well as specialist surveyors in their
Clubs in the International Group pool
their larger risks and share all claims in
trading again. respective areas. In situations of
necessity, including emergencies, the
excess of a pre-determined amount.
Club correspondents issue a Club letter
They also enjoy reinsurance protection
of guarantee in the event of an actual
at cost, as compared to the much higher
or threatened ship arrest.
levels available in the commercial
reinsurance market. Guarantees given by P&I Clubs in
been laid up during the winter months the International Group are almost
Some of the major Clubs are:
commenced trading again. universally accepted as good security.
• The American Steamship Owners
This service is therefore extremely
Mutual P&I Association. Inc. (SCB)
• What are the risks covered by P&I Clubs? useful to the members in avoiding costly
• Assuranceforeningen Gard, Norway The risks covered by P&I Clubs delays to their vessels, especially in
• The Japan Ship Owners Mutual P&I are mainly: situations of claimants arresting a vessel
Association, Tokyo ♦ Loss of life & personal injury risks against which they have a claim, in order
• The Britannia Steamship Insurance ♦ Collision risks to obtain security.
Association Ltd, London ♦ Cargo risks
P&I Clubs and cargo liabilities - Cargo
• The London Steamship Owners Mutual ♦ Harbour etc. damage risks
liabilities constitute a very important
Insurance, London ♦ Wreck risks
part of the cover provided by the Club.
♦ Life & other salvage & General
• Sveriges Angfartygs Assurance Normally this cover is given on the basis
Forening, Gothenburg (The Swedish Average risks
that the shipowner’s contract with the
♦ Quarantine & Infectious disease risks
Club) owner of the cargo is on terms at least
♦ Risks in respect of distressed or sick
as favourable to the shipowner as the
The oldest P&I Club still in existence is seamen, sick passengers & stowaways
provisions of The Hague or Hague-Visby
the Britannia Steamship Insurance ♦ Fines
Rules, under the Brussels Convention of
Association Ltd, London which began as ♦ Costs
1924, its Protocol of 1968 and The
a protection Club in 1855. ♦ War Risks
Hamburg Rules of 1978. Where insured,
♦ Freight war risks
The Clubs policy year traditionally cargo insurers pursue claims with
begins on 20th February. The reason for Club rules are constantly reviewed and shipowners after subrogation on account
this is historical. Traditionally, 20 th changed to meet the ever-increasing of short delivery, loss or damage to the
February was the date when the Baltic liabilities involved in the business of ship goods carried under approved Bills of
Sea became ice-free and vessels that had owning and operating. With the Lading. Shipowners after settling such

issue focus
claims with the insurers can make Increasingly, many ports such as those in
STATEMENT ABOUT
appropriate recoveries from their the U.S.A. are insisting on membership
P&I Clubs. with the International Group of P&I Clubs OWNERSHIP AND
as a pre-condition for vessels to berth at OTHER PARTICULARS
Claims have to be notified immediately
their harbours, such risks falling under the
to P&I Clubs. Claims against Clubs are ABOUT IRDA JOURNAL
purview of the covers granted to Members.
normally reimbursed to the shipowner 1. Place of publication: Hyderabad
after the agreed amount is paid to the • Are there any Indian P&I Clubs?
third party claimant. This constitutes the No. In fact, Indian vessels have to obtain 2. Periodicity of
‘pay to be paid concept. Claims may also P&I cover from any of the established publication : Monthly
be made by way of ‘direct action against P&I Clubs, based abroad. For example,
the Clubs. In the latter instance, in the our national carrier SHIPPING 3. Printer’s Name : Alapati Bapanna
event of an actual or threatened ship CORPORATION OF INDIA LTD., has Nationality : Indian
arrest, the Clubs issue letters of covered their fleet with the following Address : Kalajyothi Process Ltd.
guarantee and the Port/Governmental International Group P&I Clubs: 1-1-60/5, RTC Cross Roads
authorities deal directly with them. Musheerabad
♦ The Steamship Mutual Underwriting Hyderabad 500 020
• Is P&I Club membership compulsory? Association Ltd., London
No. As of now there are no statutory ♦ Assuranceforeningen Gard, Norway 4. Publisher’s Name : C.S. Rao
requirements in respect of membership Nationality : Indian
♦ The Britannia Steamship Insurance
of P&I Clubs. Membership of P&I Clubs
Association Ltd, London Address : Insurance Regulatory
is done on a voluntary basis. and Development Authority
♦ The North of England P&I Association
Ltd., U.K.
5-9-58/B, III Floor
Current trends Parisrama Bhavanam
With environmental concerns becoming a ♦ The London Steamship Owners Mutual Basheer Bagh
major global issue, the prohibitively high Insurance Association, London Hyderabad 500 034
costs of oil pollution clean-up and wreck
• What are the current trends in India?
removal have caused considerable concern 5. Editor’s Name : U. Jawaharlal
Significant changes can be observed even
at all levels. Nationality : Indian
in India, in line with the prevalent global
scenario. The Department of Shipping Address : Insurance Regulatory
under Ministry of Shipping, Road
and Development Authority
5-9-58/B, III Floor
Transport and Highways is framing Wreck
Parisrama Bhavanam
Removal Rules under the Indian Ports
Significant Act, 1908.
Basheer Bagh
changes can be Hyderabad 500 034
According to the draft rules, all ports
observed even 6. Names and addresses of individuals who own the
before granting ship-owners permission
in India, in line to enter the port were to ensure that
newspaper and partners or shareholders holding more
than one per cent of the total capital:
with the the vessels were covered against wreck
Insurance Regulatory and Development Authority,
prevalent removal and oil pollution risks by a P&I
5-9-58/B, III Floor, Parisrama Bhavanam, Basheer
Club. Ships not complying with this
global scenario. Bagh, Hyderabad 500 034.
provision were to be denied permission
to enter the port.
I, C.S. Rao, hereby declare that the particulars given
The matter is still being debated in
above are true to the best of my knowledge and belief.
shipping, insurance and P&I Club circles.
The author is A.O., Marine, Technical Dept., Date: March 04, 2008 Signature of Publisher
Head Office, National Insurance Co.Ltd.

issue focus
Laws, Rules and Regulations

GOVERNING MARINE INSURANCE
‘CROSS-BORDER TRADE IS REPLETE WITH THE RISK OF INSUFFICIENT UNDERSTANDING OR FAULTY INTERPRETATIONS OF
THE TRADE TERMS. HENCE IT IS VERY ESSENTIAL TO HAVE A COMMON PLATFORM THAT IS WELL UNDERSTOOD BY THE
TRADERS AND INSURERS ALIKE’ EMPHASIZES R. C. GURIA.
M
arine insurance business is mostly ♦ The Indian Railways Act 1989 • Institute Fishing Vessel Clauses
international and subject to law ♦ The Carriers Act, 1865 The underwriters are well equipped with
and international regulations in ♦ Indian Carriage of Goods by Air Act, institute clauses, which are attached
every stage of operations. It is governed 1943 and Warsaw Convention of 1929 with policies. But the underwriters need
by the oldest insurance law called the ♦ Indian Post office Act, 1898 to refer also the relevant provisions of the
Marine Insurance Act 1906 subsequently
♦ Major Port Trust Act, 1963 Marine Insurance Act and the Incoterms in
amended as the Marine Insurance
♦ Indian Port Trust Act, 1908 marine insurance management always.
Act 1963 in India and guided by the various
♦ Customs Act, 1962 We discuss here the salient aspects of
clauses formulated by the Institute of
the Marine Insurance Act, 1963 and
London Underwriters (ILU) and the
International Rules & Regulations Incoterms2000 only.
International Commercial Terms now
known as Incoterms2000 developed by ICC • ICC Regulation Incoterms2000
(International Chamber of Commerce). • The Hague Rules 1924
Thus in India Marine insurance is subject • The Hague –Visby Rules 1968
to the following statutes and international
• The Hamburg Rules
regulations for import and export insurance
and hulls insurance.
The underwriters
Institute Clauses of ILU for import need to refer also
/export insurance
Statutes the relevant
• Institute Cargo Clauses (A), (B), and (C)
• The Insurance Act 1938 with Insurance provisions of the
Rules 1939 • Institute War Clauses (CARGO)
• The Marine Insurance Act,1963 • Institute Strikes Clauses (CARGO)
Marine Insurance
• The Stamp Act 1899 • Institute Cargo Clauses (AIR) Act and the
• The Foreign Exchange Management Act • Institute War Clauses (AIR CARGO) Incoterms in
• Rules and laws relating to carriage or • Institute Strike Clauses (AIR CARGO) marine insurance
recovery.
management
♦ The Multimodal Transportation of Institute Clauses for Hull Insurance
Goods Act 1993 with UNCTAD/ICC
always.
• Institute Time Clauses (ITC)- Hulls
Rules for Multimodal Transportation (1.10.83)
Documents
• Institute Voyage Clauses – Hulls (1.10.83)
♦ The Indian Carriage of Goods by Sea - in case of insurance for a particular
Act,1925 (as amended) voyage

issue focus
Marine Insurance Law: The Marine Insurance Co. Ltd. and La Réunion engine stores if owned by the assured;
Insurance Act 1963 Européene (The Star Sea)2001. in the case of a ship driven by power
• Fundamentals of Marine Insurance • Measure of Insurable Value other than steam includes also the
Contract One of the major problems an insurer machinery and fuels and engine stores,
generally faces is determination of if owned by the assured; and in the
♦ Contract of Indemnity
insurable value of the subject matter of case of a ship engaged in a special
The contract of marine insurance is a
marine insurance. To sort out the trade, includes also the ordinary
contract of indemnity, which protects
problem we are required to refer to the fittings requisite for that trade”
against physical and other losses to
moveable property and associated provisions of the MI Act over and above ♦ In insurance on freight, whether paid
interests, as well as against liabilities technical aspects. Sec.18 provides that in advance or otherwise, the insurable
occurring or arising during the course “Subject to any express provision or value is the gross amount of the freight
of a sea voyage. Marine insurance valuation in the policy, the insurable at the risk of the assured, plus the
policy is a contract of indemnity, which value of the subject-matter insured must charges of insurance:
is a basic principle of the law of be ascertained as follows:- ♦ In insurance on goods or merchandise,
insurance. Common law and civil law • In insurance on ship, the insurable the insurable value is the prime cost
definitions are similar in this regard. value is the value, at the of the property insured, plus the
Sec. 3 of the MI Act provides that a commencement of the risk, of the expenses of and incidental to shipping
contract of marine insurance is an ship, including her outfit, provisions, and the charges of insurance upon
agreement whereby the insurer and stores for the officers and crew, the whole:
undertakes to indemnify the assured, money advanced for seamen’s wages, ♦ In insurance on any other subject-
in the manner and to the extent and other disbursements (if any) matter, the insurable value is the
thereby agreed, against marine losses, incurred to make the ship fit for the amount at the risk of the assured when
that is to say, the losses incidental to voyage or adventure contemplated by the policy attaches, plus the charges
marine adventure. the policy, plus the charges of of insurance”.
♦ Utmost Good Faith insurance upon the whole:
Thusly the MI Act provides clear legal
As per Sec.19 a contract of marine ♦ The insurable value, in the case of a provisions in regard to measure of
insurance is a contract based upon steamship, includes also the insurable value of all kinds of subject
utmost good faith and if the utmost machinery, boilers, and coals and matter of insurance.
good faith be not observed by either
• Losses and abandonment
party, the contract may be avoided by
Sec. 55 to 66 provide for the various
the other party. Under Sec.20 the
losses for which the underwriters are
assured must disclose to the insurer,
liable in various situations in various
before the contract is concluded,
subject matters of insurance:
every material circumstance which, is Marine insurance • Included and excluded losses S.55.
known to the assured, and the assured
policy is a contract of ♦ “Subject to the provisions of this Act,
is deemed to know every circumstance
… Under Sec.21 the agent must
indemnity, which is a and unless the policy otherwise
disclose to the insurer every material basic principle of the provides, the insurer is liable for any
circumstance which is known to law of insurance. loss proximately caused by a peril
himself, and an agent to insure is insured against, but, subject as
Common law and aforesaid, he is not liable for any loss
deemed to know every circumstance
where an insurance is effected for the
civil law definitions which is not proximately caused by a
assured by an agent. Very importantly are similar in this peril insured against.
the duty of disclosure continues to regard. ♦ In particular -
apply even after the conclusion of the the insurer is not liable for any loss
contract as decided in the case attributable to the wilful
Shipping Co. Ltd. v. Uni-Polaris misconduct of the assured, but,

issue focus
unless the policy otherwise provides, ♦ In particular, there is a constructive

he is liable for any loss proximately total loss -
caused by a peril insured against, Where the assured is deprived of the
even though the loss would not have
happened but for the misconduct or
possession of his ship or goods by a Sec 57 provides
peril insured against, and (a) it is
negligence of the master or crew; that where the
unlikely that he can recover the ship
unless the policy otherwise provides, or goods, as the case may be or (b)
subject-matter
the insurer on ship or goods is not the cost of recovering the ship or insured is
liable for any loss proximately goods, as the case may be, would destroyed, or so
caused by although the delay be exceed their value when recovered; damaged as to
caused by a peril insured against; or
cease to be a
unless the policy otherwise provides, In the case of damage to a ship,
the insurer is not liable for ordinary
thing of the kind
where she is so damaged by a peril
wear and tear, ordinary leakage and insured against that the cost of
insured, or where
breakage, inherent vice or nature repairing would exceed the value of the assured is
of the subject-matter insured, or for the ship when repaired. irretrievably
any loss proximately caused by rats
In estimating the cost of repairs, no deprived thereof,
or vermin, or for any injury to
machinery not proximately caused
deduction is to be made in respect there is an actual
by maritime perils”.
of general average contributions to total loss and in
those repairs payable by other
Sec. 55(1) says about included loss the case of an
interests, but account is to be taken
and Sec 55(2) describes about of the expense of future salvage
actual total loss
excluded loss.
operations and of any future general no notice of
• Partial Loss and Total Loss average contributions to which the abandonment
Sec.56 provides that a loss may be either ship would be liable if repaired; or need be given.
total or partial. Total loss may be either
In the case of damage to goods,
an actual total loss or a constructive total
where the cost of repairing the
loss. Sec 57 provides that where the
damage and forwarding the goods
subject-matter insured is destroyed, or
to their destination would exceed
so damaged as to cease to be a thing of
their value on arrival.
the kind insured, or where the assured
Where there is a constructive total loss expenditure is voluntarily and
is irretrievably deprived thereof, there
the assured may either treat the loss reasonably made or incurred in
is an actual total loss and in the case of
as a partial loss or abandon the subject time of peril for the purpose of
an actual total loss no notice of
matter to the insurer and treat the loss preserving the property imperilled in
abandonment need be given.
as if it were an actual total loss the common adventure.
• Constructive Total Loss S.60
(S. 61). ♦ Where there is a general average loss,
♦ There is a constructive total loss a) the party on whom it falls is entitled,
• General Average S.66
where the subject-matter insured is subject to the conditions imposed
reasonably abandoned on account of As per sec.66
by maritime law, to a rateable
its actual total loss appearing to be ♦ a General Average loss is a loss that contribution from the other parties
unavoidable, or b) because it could not arises from a general average act, interested, and such contribution is
be preserved from actual total loss general average expenditure or GA called a general average contribution.
without an expenditure which would sacrifice. It further provides that ♦ Subject to any express provision in the
exceed its value when the expenditure ♦ “… There is a general average act policy, where the assured has incurred
had been incurred. where any extraordinary sacrifice or a general average of expenditure, he

issue focus
determined as if those interests were express provision in the policy, where

owned by different persons.” there is a partial loss of freight, the
• Measure of Indemnity in case of marine measure of indemnity is such
losses proportion of the sum fixed by the
Sometimes The provisions contained in Sec.67 to
policy in the case of a valued policy or
of the insurable value in the case of
underwriters find it Sec.78 provide for measure of indemnity
an unvalued policy, as the proportion
for the marine losses to the subject
difficult to exercise of freight lost by the assured bears to
matter of insurance under an unvalued
the subrogation or a valued policy.
the whole freight at the risk of the
rights due to lack of ♦ Insurer’s Liability S.67: As per this sec.
assured under the policy”.
clarity of legal “the sum which the assured can

• Insurer’s rights in respect of claim
settlement (S.79 toS.81)
perspectives thereof. recover in respect of a loss on a policy
Insurers do have certain rights as per the
by which he is insured, in the case of
The MI Act is very following provisions of the MI Act in order
an unvalued policy to the full extent
clear in this regard. of the insurable value, or, in the case to limit his liability for payment of
of a valued policy to the full extent of claims:
the value fixed by the policy, is called ♦ S. 79. Right of subrogation
the measure of indemnity. Sometimes underwriters find it
Where there is a loss recoverable difficult to exercise the subrogation
under the policy, the insurer, or each rights due to lack of clarity of legal
insurer if there be more than one, is perspectives thereof. The MI Act is very
liable for such proportion of the clear in this regard providing
may recover from the insurer in
measure of indemnity as the amount specifically that
respect of the proportion of the loss
which falls upon him; and in the case of his subscription bears to the value “Where the insurer pays for a total
of a general average sacrifice, he may fixed by the policy in the case of a loss, either of the whole, or in the
valued policy, or to the insurable value case of goods of any apportionable
recover from the insurer in respect of
in the case of an unvalued policy” part, of the subject-matter insured,
the whole loss without having enforced
♦ Total Loss S.68: It provides for the he thereupon becomes entitled to
his right of contribution from the other
measure of indemnity for total loss take over the interest of the assured
parties liable to contribute.
under a valued policy and an unvalued in whatever may remain of the
♦ Subject to any express provision in the
policy with the provisions that “where subject-matter so paid for, and he
policy, where the assured has paid, or is thereby subrogated to all the
there is a total loss of the subject-
is liable to pay, a general average rights and remedies of the assured
matter insured,(i) the measure of
contribution in respect of the interest in and in respect of that subject-
indemnity is the sum fixed by the
insured, he may recover therefor from matter as from the time of the
policy if the policy be a valued policy
the insurer. casualty causing the loss.
and (ii) the measures of indemnity is
♦ In the absence of express stipulation, the insurable value of the subject- Subject to the foregoing provisions,
the insurer is not liable for any general matter insured if the policy be an where the insurer pays for a partial
average loss or contribution where the unvalued policy”. loss, he acquires no title to the
loss was not incurred for the purpose ♦ Partial Loss: The basis of measure of subject-matter insured, or such part
of avoiding, or in connection with the indemnity for partial losses of ship, of it as may remain, but he is
avoidance of a peril insured against. freight and goods are described by thereupon subrogated to all rights
♦ Where ship, freight, and cargo, or any S.69, S.70 & S.71 respectively in and remedies of the assured in and
two of those interests, are owned by details. Let us see how we can apply in respect of the subject-matter
the same assured, the liability of insurance law on assessment of partial insured as from the time of the
the insurer in respect of general loss of freight as provided by Sec.70 casualty causing the loss, in so far
average losses or contributions to be which states that “subject to any as the assured has been indemnified,

issue focus
according to this Act, by such have certain obligations to fulfill in order property for determination of insurable
payment for the loss.” to consummate a contract. But unlike in interests. Businessmen from various
♦ S. 80. Right of Contribution contracts under Sale of Goods Act, in countries have met and developed
contracts of international sale, the transfer international commercial terms
We all know about insurer’s right of
of risks and transfer of property are (INCOTERMS) to make the international
contribution, but what is more important
separated. Marine insurance management sales easier and quicker. The latest version
is the insurer’s right to maintain suit including underwriting and claims need to are Incoterms2000 which have been
against other insurers for contribution as determine the terms of sales in various developed at the Brussels Conference
per the provisions of the Act providing that contracts of sales. In considering a proposal under the guidance of ICC (International
“Where the assured is over-insured for cargo insurance underwriters begin Chamber of Commerce). Marine cargo
by double insurance each insurer is with examination of the contract of sales, underwriters are required to understand
bound, as between himself and the that specifies duties and responsibilities INCOTERMS while considering the contract
other insurers, to contribute of the buyer and the seller; and divide the of sales for international transactions
rateably to the loss in proportion to transaction costs between them. A contract related to import and export of goods.
the amount for which he is liable of sales basically provides the following As per Incoterms2000 there are13 terms,
under his contract. two fundamental items, which are very out of which FOB, C&F, CIF are the common
If any insurer pays more than his essential for drafting and issuing marine ones, which we know. But others are also
proportion of the loss, he is entitled insurance policy: very important for underwriters for
to maintain a suit for contribution • Terms of Sales effective underwriting. Very precisely
against the other insurers, and is every term has ten points of conditions that
• The price to be paid.
entitled to the like remedies as a are covered or complied with by the seller
These terms are varied from contract to or the buyer. The first term is EWX;
surety who has paid more than his
contract, from consignment to Ex-works has the least number of
proportion of the debt.”
consignment, country to country, from obligations for the seller and consequently
♦ S.81. Deduction for under-insurance
cargo to cargo, from market to market and the largest number for the buyer.
Traditionally followed that marine
so on. But these terms have had wide Conversely the last term DDP, ‘Delivered
insurance is an agreed value policy
impact over duties and responsibilities of
where under insurance is not
the buyers and sellers and transfer of
applicable. But the MIA 1963 says
ownership and risks. In some cases, buyers
something different providing that
have the major duties commencing from
“Where the assured is insured for an carrying the goods from sellers’
amount less than the insurable value, warehouses to the buyers’ premises
or, in the case of a valued policy, for involving all sorts of transits, customs
an amount less than the policy clearance, insurance etc. where sellers’
valuation, he is deemed to be his responsibilities are the minimum. Again in
own insurer in respect of the
Like domestic trade,
some cases sellers’ responsibilities are
uninsured balance”. more and buyers’ responsibilities are less. in international trade
So underinsurance will apply to marine Further more, in international sales, also, the exporter
insurance as per the MI Act. To clarify transfer of property in goods (ownership) and the importers
is different from the transfer of risks. The
the provisions let us consider the both have certain
following case where the surveyor terms of contract dictate duties,
recommended for under insurance responsibilities of the parties to the
obligations to fulfill
contracts of sales and also provide where in order to
INCOTERMS 2000–International
and how the risks are being transferred consummate a
from sellers to the buyers. All these aspects
Commercial Terms contract.
are very vital for the underwriters for
Like domestic trade, in international trade insuring the risks of the respective parties
also, the exporter and the importers both and establishing their ownership in the

issue focus
the goods are boarded. FOB price is arranges insurance for consignment. The
inclusive of Ex-Works price, packing buyer has to bear all costs and risks
charges, transportation charges up to involved in shipment transaction. Seller
the place of shipment. provides the goods for collection by the
• C&F/ CFR (Cost and Freight): Under this buyer on the seller’s promise. Seller’s
responsibility is to put the goods in a
Title and risks term the exporter bears the cost of
good package, which is acceptable and
carriage (freight). Risk passes from the
including payment exporter to the buyer at the port of disposable by the transport. (However
of transportation shipment. The seller gives the notice of if the parties wish the seller to be
costs and shipment to the buyer to enable him to responsible for the loading of the goods
on departure and to bear the risks and
insurance pass to arrange insurance. Until shipment, the
costs of loading, it needs a specific
risks however remain with the shipper.
the buyer once the wording to the effect in the contract
The buyer is responsible for insurance
goods are from the time he assumes the risks, that of sales.
delivered is, from the point of shipment. The • FCP (Free Carrier Point): The seller’s
alongside ship by transfer of risks is the same as in FOB. responsibility is to deliver the goods into
The seller needs to protect his interests the custody of the transporter at the
the seller whether named points or load the goods on the
by insuring the risks in goods from his
used for sea or warehouse till the goods are loaded in buyer’s vehicle. It is the buyer’s
inland waterways the overseas vessel. C&F price is responsibility to receive the seller’s
transport. inclusive of Ex-Works price, packing arriving vehicle unloaded. Thus title and
charges, transportation charges up to risk pass to the buyer including
shipment & freight. transportation and insurance. The buyer
decides the means of transport and
• CIF (Cost, Insurance and Freight): The
insurance cover. The seller and the
Duty Paid’ has the largest number of seller is responsible for insurance from
buyer agree upon the point of delivery
obligations for the seller and the least own warehouse to that of the buyer at
of goods.
number for the buyer. Some of the terms the destination point. This policy is
called “warehouse to warehouse” • FAS (Free Alongside Ship): Title and risks
are discussed in brief.
marine policy. The policy is taken in the including payment of transportation
• FOB (Free on Board): Under FOB
sellers’ name and the claim is negotiated costs and insurance pass to the buyer
contracts, the seller undertakes to
by the buyer, generally through a claims once the goods are delivered alongside
deliver the goods over the ship’s rail, at
settling agent at the destination place ship by the seller whether used for sea
which point the risks pass from the seller
in his own country. The seller is or inland waterways transport. However
to the buyer. The seller’s responsibility
responsible to arrange insurance on export clearance obligation rests with
is to pay all expenses until this point.
warehouse-to-warehouse basis the seller. Seller’s responsibility ends as
He is to arrange for insurance up to the
protecting the interests of both the soon as the goods are placed cleared
point. The buyer is also responsible for
seller and the buyer. Title and risks pass alongside the ship. The buyer’s
insurance from the time he assumes the
to the buyer when goods have been responsibility for all expenses and
risks, that is, once the goods pass the
delivered aboard the ship at the loading insurance start with the arrival of goods
ship’s rail. Sellers are responsible to
point. Buyer supports the entire risk of alongside ship.
clear customs dues, quality inspection
transportation. CIF includes Cost, Freight • CPT (Carriage Paid to): This term is used
charges and other export related dues.
and Insurance as the term provides. for transport by rail, road, and inland
It is important that the shipment term
• EXW (Ex Works): Title and risks pass to waterways. The seller and exporter are
in the bill of lading must carry the
the buyer including payment of all responsible for the carriage of goods to
wording “Shipped on Board”, it must
transaction and insurance costs from the the nominated destination and to pay
bear the signature of the transporter
freight for the first carrier. He is
or the carrier or his authorized seller’s door irrespective of mode of
responsible to do custom clearance and
representative with the date on which transportation. The buyer (importer)

issue focus
arrange and pay carrier up to the agreed transportation. The term is used mainly a nominated point and pays the expenses
destination. The buyer is responsible to for delivery of goods by rail or road. for loading and insurance.
pay for import customs; unloading costs When the buyer takes the delivery of the
and bear the risks of loss/ damage after goods at the agreed border point, he is Modes of transport and
the goods are given by the first carrier. responsible for all custom formalities and appropriateness of Incoterms2000
Thus the buyer needs to take insurance insurance to mitigate the risks of loss or
Suitability of incoterms also depends on
when he takes the risk on delivery by damage to the cargo. The seller is
mode of transports. Not all terms are
the first carrier. responsible to make the goods available
equally suitable for all sorts of transports.
• CIP (Carriage &Insurance Paid): This to the buyer by the carrier up to the
A different set of incoterms have been
term is almost similar to CPT except that customs border as defined in the
found suitable in different modes of
the seller has to arrange and pay for the contract of sales.
transports which the underwriters need to
insurance against the risks of loss or • DES (Delivered Ex-ship): Title, risks of know to decide the terms, conditions and
damage of the goods during shipment. loss/ damage or responsibility for warranties in the policies. Incoterms are
The seller has to take the insurance and discharge from vessel and import classified based on suitability to the
pay the freight. The buyer has to pay customs clearance pass to the buyer modes of transport.
customs and unloading charges. He
when the seller delivers goods on board
supports the risks of loss or damage when These terms prescribe responsibilities and
the ship to destination port either for
the goods are given to the first carrier. obligations of the buyers and the sellers
sea or inland waterways transportation.
• DAF (Delivered at Frontier): Title, risk to make the transaction complete and
The seller is responsible to make the
of damage/loss and liability for import effective. They also specify the point of
goods available to the buyer up to the
custom clearance pass to the buyer when transfer of risks. These terms describing
named port or after crossing the customs
cargo delivered to the named border the duties and responsibilities of the
border. The buyer is responsible to pay
point by the seller using any mode of parties are listed numerically in a book
for unloading and insurance for risks
published by ICC. We, the underwriters
arising after taking delivery at
need to read the books and appreciate the
destination port.
terms in our underwriting function for
• DEQ (Delivered Ex-Quay): Title and risks
import or export businesses. Incoterms
pass to the buyer when delivered on
are international rules that are accepted
board the ship at the destination point
by governments, legal authorities,
by the seller who delivers goods on dock
businessmen and parishioners worldwide
A different set of at destination point cleared for import.
for the interpretation of the most
incoterms have been • DDU (Delivered Duty Unpaid): Seller is commonly used terms in international
found suitable in responsible to make the goods available trade. They either reduce or remove most
different modes of at the named place in the country of confusions or uncertainties arising from
importation. The seller is responsible for
transports which the differing interpretations of such terms
all transportation cost and accepts in different countries. Thus marine
underwriters need to the custom duty and taxes as per underwriters cannot ignore them in marine
know to decide the custom procedure. The buyer is insurance management.
terms, conditions and responsible for compliance of import
warranties in the customs formalities.
policies. • DDP (Delivered Duty Paid): Title and risks

pass to buyer when seller delivers goods
to the named destination point cleared
for import. The seller is responsible to
make the goods to the buyer at his risk
and cost as promised by the buyer. The
The author is Faculty, National Insurance
buyer is responsible to take delivery at Academy, Pune.

issue focus
Stock Throughput Policy

A VIABLE ALTERNATIVE
SAGARNIL GUPTA STATES THAT INSURANCE BUYERS, FOR GOODS IN TRANSIT AND STORAGE, INCESSANTLY SEEK OUT LESSER
DEDUCTIBLES, ENHANCED PROTECTION AND LESSER PREMIUM OUTGO. HE FURTHER SAYS ‘WITH SPORADIC EBB AND FLOW
IN THE PROPERTY MARKET AND THE RECENT DIFFICULTY IN OBTAINING ADEQUATE CATASTROPHIC LOSS LIMITS, MOST
ORGANIZATIONS ARE OPTING FOR THE MARINE MARKET AND ITS STOCK THROUGHPUT FORM AS A LUCRATIVE ALTERNATIVE
TO THE PROPERTY MARKET’S WAREHOUSE AND INLAND TRANSIT COVERAGE’.
History of STP on lease or on rent) when cargoes are not • Import of plant and machinery on CIF
S
TP is popularly known as ‘Cradle to in course of transit within the meaning of terms with DIC extension.
Grave‘ Coverage. This policy was Marine Insurance. • Purchase of plant and machinery from
introduced in mid 1970 mainly for the Movements of other items related to local/domestic market
following reasons: to have a single policy operations as for example: • To & Fro journey when plant or
as against multiple marine and property machinery sent to repairer’s workshop
• Import of plant and machinery on C&F/
policies; to avoid property tariff; to expand for repairing and overhauling etc.
FOB or similar terms
marine premium during soft marine
market; and to obtain broader coverage
for static risks under marine portfolio.
Here is a diagrammatic representation of the scope of STP.
What is Marine STP?
It is the process of insuring both stock and Local procurement of Procurement of raw
transit/inventory exposures under a ‘Single raw materials including materials / capital goods
capital goods from overseas market
Policy‘ to ensure seamless protection to
the assured on a worldwide basis.
To whom it can be issued? Pre manufacture Pre manufacture

Stock Throughput Policy is perfect for stocks stocks
organizations that source raw materials or

semi finished goods for further value Job workers Plant & Machinery
MANUFACTURING UNIT
Premises sent to repairers
addition. These organizations then
store and distribute finished goods across
the world.
Storage of finished
goods
Scope of STP
Inputs & Output: Raw materials, Work in Export transit Inland transit
Progress and Finished Goods that are in
transit on World to World basis. All Local Transports
Overseas Storage
locations are covered such as assured’s Final Distributions
factory (ies)/ Job Workers/ Sub-
Contractors/ Warehouses (3rd Party taken Transit to final customer

issue focus
Major Exclusions Marine STP - Challenges for

Goods at retail outlets, insured property Insurers
This policy is very (ies) in the open or outbuilding, any Marine Stock Throughput Policy has the
simple to administer property other than the subject matter following challenging features:
insured, policy deductible, consequential
since there is no • Need for co-ordination between Marine
loss / legal liability, loss resulting from Underwriter and Property Underwriter
need for declaring for pricing and terms for static risks.
unexplained or mysterious disappearance
individual shipments. or shortage discovered on taking inventory, • Continuous review of static risk in order
It is adjusted against misplacing or misfiling of information or to control accumulation for AOG/
Social perils.
final sales value/ clerical or accounting errors, loss or
• Requirement of loss control effort
turnover achieved by damage to goods and merchandise caused
through COPE (Construction,
by or resulting from misappropriation,
the company. Occupation, Protection and Exposure)
conversion, infidelity or any dishonest act
Survey where the value of stock is
on the part of the assured or other party high in named locations.
of interest, his or their employees or • There is no standard policy form for
agents, processing risks, theft unless Marine STP since each risk is unique and
Why Stock risk is different from following forcible and/or violent entry into each policy needs to be tailor-made in
or exit from the premises and act of terms of deductible, basis of valuation,
Transit risks (in course of transit)
terrorism are some of the major exclusions. price, scope of cover, exclusions,
This is a static risk, always exposed to fire, warranties etc.
AOG and social perils.
• Soft market conditions force Marine
Benefits of STP from Assured’s
Total exposure of inventory/stock at Underwriters to accept undesired
point of view
any point of time in a particular area/ extensions.
region is always greater than the single • Seamless Protection: A single policy • A single static risk loss can have negative
carrying limit. provides comprehensive protection impact on marine book.
Stocks are usually kept at various 3rd party against both, Transit (Inland & Ocean
locations where different cargoes can be Marine) and Inventory/Stock exposures.
Philosophy
stored/kept (including hazardous and non • Coverage: STP offers broader coverage Only write legitimate STP to support cargo
hazardous material) and warehouse business.
under static risk as against Standalone
keepers tend to offer less care in terms of
Property policy. Underwriting Process
handling and storage etc.
• Premium payment: Premium can be paid • Cardinal Principles for writing Stock
Severity Analysis
in installments in order to assist cash Throughput Policy:
Line Claims Size of flow of the company. ♦ You are a marine underwriter.
Frequency the loss
♦ Do not try to cross subsidize (Static
• Policy Administration: This policy is very
Static Low High and Marine premium)
simple to administer since there is no
♦ Stock and Marine Risks need to be
Marine Low to Low to need for declaring individual shipments.
evaluated separately.
Medium Medium It is adjusted against final sales value/
♦ Examine the logistics chain of the
turnover achieved by the company. company thoroughly.
Risk Covered • It helps in elimination of duplicity of ♦ Evaluate the ratio between inputs
There are two ways of underwriting a coverage - no need for multiple policies and output.
Marine Stock Throughput policy. ♦ Accumulation control is a must.
for both transit and inventory/
1.All Risks: All Risks of physical loss or ♦ Analyze closing stock ratio.
stock risks.
damage from any external cause. ♦ Assess average period of stock holding.
• It also eliminates dispute on concealed
2.Transit Risk on All Risks basis and Static ♦ Appraise the basis of valuation.
Risk other than in course of transit on damage claims between Marine and
♦ Scope of both Proportional and
named perils basis (with add on covers). Property Underwriters. XOL treaties.

issue focus
♦ Production process of the goods. Rule II Rule III

♦ Never ever assume under STP. • Limit per Location (Named Location) and Static Risks
Understand the risks. Maximum Aggregate Value of stock at any
♦ Sale terms (both Import, Domestic - given point of time at all named locations Interest: Analyze the Interest from Fire and
both purchases & sales; and Export). Crime risks point of view. Also consider
• Limit per Location (Un-named Location)
geographical spread.
♦ Parity between single carrying limit, and Maximum Aggregate Value at any
and limit per location (other than in point of time at all un-named locations.
course of transit).
• Loss statistics for five years.
♦ Survey of named locations/loss
control survey.
Risk Analysis Process COPE Analysis/Survey
Rule I Construction Occupancy Protection Exposure
Non Static Risk (Marine): Year of Construction Owned/Leased Lightning

Conductor Value/PML
• Type of cargoes (Inputs & Output/s).
• Packing details Storage Area Single Occupancy/ Hydrant System Earthquake
• Loss Statistics for 5 years Multiple Occupancy
• Conveyance: Ocean going Vessel, Air,
Description of Sprinkler Flood
Rail, Road, Own Vehicle etc
No of Storey Stock /Average
• Limit per Conveyance
period of Storage
• Limit per Location (In course of Transit)
• Deductible Type of Cargo No Smoking
• Basis of Valuation - stage wise Roof Stored (Hazardous / Regulation/Smoke Windstorm
• Turnover – Break-up of sales: Domestic, Non Hazardous) Detector
Exports & Turnover of Inputs with break Pillars Packing Portable Fire Burglary/Theft
of import & Inland Procurements. Extinguisher
• Sale terms
Floor Type of Storage/ Burglar Alarm Arson
Height of Storage System
Walls General Watchman/

Housekeeping 24 Hours Security Surroundings
Analyze the
Basement Storage Method of Storage Nearest Fire Water logging/
Interest from Inventory - Computer/ Brigade Inundation
Fire and Crime Manually/Maximum
Value of Stock at
risks point of
any point of time
view. Also
consider Rule IV
geographical Accumulation Control
spread. Reason for Accumulation Control: To reduce the exposure.
List of Named Locations: (Accumulation Control Sheet)
Sl. Name of Interest Pin Value

No. Processing Unit/ Covered City District State Address Code at Risk
Warehouse

issue focus
Pricing • Opt for higher deductible under

Static Risks.
A single rate is applied on estimated annual
turnover of the company which is subject Loading
to final adjustment on the basis of actual Adverse claims experience
turnover achieved. Deductible Where there is
Considering the above, logical steps for • Do not write any business without geographical
calculating the rate: Storage Deductible.
spread, premium
Step I • Deductible for Static risk should not be
Calculate the Transit premium separately less than the Transit Deductible. can be calculated
as per your underwriting guidelines. • Increase the Deductible if the cargo is on weighted
Step II exposed to crime risk and/or AOG perils. average basis
Calculate the Static premium which considering COPE
includes premium for crime risk. Whenever Issues in the Indian Market
you have any doubt regarding pricing on
factors.
The Indian insurance market needs more
Static risk please consult with your expertise to underwrite this specialized
Property Underwriter for his/her guidance class of business in terms of coverage,
since you are the marine underwriter. pricing and deductible.
Where there is geographical spread,
premium can be calculated on weighted The following are certain concerns when
average basis considering COPE factors. underwriting a STP Policy:
• Quality Issues: Construction/Occupancy/
Step III
Protection of the Warehouse/Storage
Consider the R/I market including terms
Premises
and additional price for placing Excess,
if any. • Nat Cat Exposures
• Social Perils
Discounts The author is National Head – Marine and
• Favorable claims experience • Accumulation Control Liability Underwriting, Bharti AXA General
• RI Support/Capacity Insurance Co Ltd.
• Spread discounts
We welcome consumer experiences.

Tell us about the good and the bad you
have gone through and your suggestions.
Your insights are valuable to the industry.
Help us see where we are going.
Send your articles to:

Editor, IRDA Journal, Insurance Regulatory and Development Authority,
Parisrama Bhavanam, III Floor, 5-9-58/B, Basheerbagh, Hyderabad 500 004
or e-mail us at irdajournal@irda.gov.in

follow through
Rashtriya Swasthya Bima Yojana

AN OVERVIEW
DR. N. DEVADASAN AND MR. ANIL SWARUP OPINE THAT THERE IS NEED TO FORMULATE A DESIGN FOR PROVIDING EASY
ACCESS TO HEALTHCARE FOR THE POOR OF THE COUNTRY; AND THE RSBY IS A GREAT STEP IN THIS DIRECTION ALTHOUGH
IT IS REPLETE WITH HUGE CHALLENGES.
T
he Rashtriya Swasthya Bima Yojana The design of the scheme
(RSBY) is a health insurance scheme
for “Below Poverty Line” (BPL)
workers in the unorganised sector. It was
formally launched on the 1st of October,
2007 by the Central Government and is a
part of the ongoing process by which the
present government at the Centre has
initiated for providing social security for
workers in the unorganised sector. A Bill
has also been introduced in Parliament
during the month of September, 2007. The
RSBY is supposed to become operational
from the next financial year, i.e. 2008 -
2009. All the 600 districts of the country
are to be covered in a phased manner by
2012. The main objective of this scheme
is to provide health security for the BPL
workers in the unorganised sector and their
families through an insurance cover for
hospital expenses. It is hoped that the
scheme would protect this vulnerable
section of the population from catastrophic
medical expenditure
Implementing agency
An insurance company is the implementing families, to empanelling providers to districts (Box 1). Their performance will
agency. The company will be selected processing the claims and reimbursements be assessed and if found unsatisfactory, the
by the state government based on and monitoring the entire scheme in the contract can be revoked.
competitive bidding. All insurance
companies registered with the IRDA are
eligible to compete. Those that have the Box 1: Some of the roles of the insurance company in implementing the RSBY
capacity and offer the lowest premium will • Accrediting and empanelling hospitals – • Development of grievance redressal
be offered the opportunity to implement public (including ESI) and private mechanism
the scheme in the state. They have a lot • Marketing of the scheme through NGOs • Claims and reimbursements
of responsibility, ranging from enrolling BPL • Distributing the smart cards • Reporting to the state government

follow through
Community admission. Initial enrolment will be scheme. Most conditions are covered
All below poverty line (BPL) families (both periodic (once a quarter). There will by this scheme and exclusions are
urban and rural) are eligible to enrol in be a waiting period of a couple of minimised (Box 3). However, the list of
this scheme. In the first year, the scheme months before the individual can avail of exclusions may be modified by the
will be implemented only in 120 districts the benefits. individual state governments.
of the country. Each year, another 120 The maximum cover for a family of five is
districts will be added to this list. The Premium Rs. 30,000 per year, on a family floater
criterion for BPL is as prescribed by the The premium is to be determined on the basis. This can thus be used by a
Planning Commission of India. Only two basis of an open tender process. Insurance single family member through one
adults and their three dependent and companies will have to bid and the admission or many family members
unmarried children are eligible per family. company that fulfils the technical criteria through multiple admissions.
Elderly parents will get the benefit as a and has the lowest premium will be chosen.
separate family provided they are a part 75% of the premium for the basic package Other than the above benefits, the scheme
of the BPL list. (up to a maximum of Rs. 565 per family of also covers pre-hospitalisation expenses for
five) will be paid by the Government of one day and post-hospitalisation expenses
The insurance company is expected to for 5 days as well as transport expenses
India, and the balance 25% of the premium
enrol the BPL families with the help (up to a maximum of Rs. 1000 per family
will have to be borne by the State
of local and credible non-governmental per year). This is the basic package and is
government. The governments will pay the
organisations (NGOs) / Community based non-negotiable. Each state government is
premium to the insurance company
organisations (CBOs) / panchayat free to add on more benefits, but will have
commensurate with the number of BPL
members. The NGO will create awareness to bear 100% of the extra premium for
families enrolled. The Central government
among the BPL community. Once this has these additional benefits.
will also contribute Rs.60 as the cost of
taken place, a representative each from
the smart card. The State government is The Ministry of Labour is in the process
the NGO, the State Government and the
to meet the premium for any additional of developing a list of medical procedures
smart card agency will visit the BPL families
benefits or administration costs. and the costs thereof. This will ensure
in their villages for identification and
delivery of smart card. Those families that costs remain within limits and
desiring to be enrolled will have to pay a Benefits the health service provider cannot
registration fee of Rs. 30. These families The insured BPL patient is covered for charge unreasonably.
in return will immediately receive a smart hospitalisation expenses in empanelled
card (Box 2) with their family details hospitals. Select daycare procedures like Box 3: Tentative list of exclusions under
(including thumb print). This will then act haemo-dialysis, tonsillectomy, the Rashtriya Swasthya Bima Yojana
as a proof of identification when the BPL laparoscopic procedures, treatment of
insured patient goes to the hospital for fractures etc. are also covered by the • Conditions that do not require
hospitalization
• Conditions that are treated at home
Box 2: Smart cards for the Rashtriya Swasthya Bima Yojana
• Congenital external diseases
The smart card will be issued by the insurance company and will have the details of • Drug and Alcohol Induced illness
the family, including thumb print, the insurance status, the amount of money used
for previous hospitalisations and the amount of money left for use. • AIDS/HIV
• Sterilization and Fertility related
A team will visit each village armed with a laptop, a smart card printer, a finger
print reader and a digital camera. They enrol the BPL families and issue the smart procedures
card on the spot. • Vaccination
All empanelled hospitals are expected to have a smart card reader (~ Rs. 12,000). • Sexually transmitted diseases
When the patient produces the smart card, it is validated by the thumb print. After
• War, Nuclear invasion
that, all the transactions are entered into the reader (off-line). Once a day, this
data is transmitted to a central server through an ordinary telephone line (with 64 • Suicide
kbps transmission speed) or even a mobile phone. • Naturopathy.
This smart card should be eventually applicable anywhere in the country. This is
particularly useful for migratory families who can use this even in the cities. While Providers
the card is a family card, a family can ask for individual cards but will have to pay
for the same. Both public (including ESI) as well as
private hospitals can provide health

follow through
services under this scheme. However, only diagnosis. Once a day, this data (of the Rashtriya Swasthya Bima Yojana. They will
those hospitals that meet specific patient and the illness and the fixed charge submit a detailed proposal to the Ministry
conditions are to be empanelled by the for treating this illness) will be transferred of Labour and Employment to avail the 75%
insurance companies. Some of these to a central data base that allows the subsidy from the Government of India. The
conditions are – at least 10 beds, qualified insurance company to monitor the proposal should contain certain key
doctors and nurses, a telephone line, basic admissions in various hospitals. The data elements (given in the guidelines). States
record keeping and registration with transmission requires a smart card reader have to identify an autonomous body that
the Income tax. (that the hospitals will purchase) and a will provide the oversight and guidance to
phone line with 64kbps capacity for data the scheme. Other than this, the proposal
The BPL patient is expected to go to the
transfer. At the time of discharge, the should throw light on how the state
hospital with the smart card. If the patient
amount spent on the beneficiary will be government plans to contract insurance
requires admission, a staff member at the
debited from the credit of the insurance companies; create awareness among the
hospital will verify the identity and
amount in the chip. So, in effect, the BPL community; distribute smart cards.
ascertain the eligibility through a smart
patient does not have to pay any money at Finally, the state government will have
card reading machine installed in each
the time of discharge. delineated the roles and responsibilities of
network hospital. The thumb-impression,
each of the stakeholders. The roles of each
embedded in the chip of the smart card,
Implementation of the scheme of the stakeholders are given in Table 1.
will facilitate such verification. The patient
will then be admitted and treated. The State governments have been assigned the
diagnosis would be fed into the smart card responsibility of implementing the scheme. Comments on the RSBY
reader which would then automatically They are the ones who will plan the The Rashtriya Swasthya Bima Yojana is the
calculate the pre-fixed charge for that projects, within the guidelines of the third health insurance scheme from the
government of India’s stable. The earlier
ones (Universal Health Insurance Scheme
Table 1: Roles of each of the stakeholders in the Rashtriya Swasthya Bima Yojana and the National Rural Health Mission) were
C launched by the Ministry of Finance and
I
e S Health respectively. The RSBY attempts to
n C
n t P learn from these and other such schemes
s o
t a r
Activities r t
u
o
m that are being administered at various
r N m levels by different agencies. Like the
a e v
a G u
l i earlier schemes, it covers the BPL families,
n O n
G d
c i but unlike the UHIS, the RSBY has opened
G o e
e t up the scheme to both public and private
o v r
y
v t
Co.
sector insurance companies. Secondly, it
t has insisted on a cashless system, thereby
Finalising the projects, (benefit package and attempting to replace the reimbursement
implementation arrangements)
model, once and for all. Thirdly, it covers
Appointing an insurance company all the common ailments and minimises
Applying to the Central government exclusions. And finally, it spells out in
Clearance by the Central government detail the roles and responsibilities of each
of the stakeholder. A lot of effort has gone
Identifying the BPL families into standardising various processes like
Creating awareness among the community developing the tender document, list of
Distributing smart cards and instruction manuals diseases and their costs. The Union Labour
Empanelling providers Ministry is also assisting the State
Setting up the card readers and back end operations Governments in formulating the projects
Paying the premium to the insurance company It is also hoped that by this form of demand
side financing, where the money follows
Patient uses the empanelled facility
the patient, the most vulnerable sections
Claims submitted to the insurance company of society will have access to quality care.
Reimbursement to the provider And once private entrepreneurs see the
Monitoring of the scheme possibility of an income, they may be

follow through
willing to open up hospitals even in rural Smart-Cards card is an attempt in the direction to
areas to tap this ‘market.’ This may Much of the scepticism regarding the minimise this, one cannot rule out the
balance out the urban – rural divide. scheme centres around the smart card. possibility of frauds where the APL landlord
However, without the smart card the orders his BPL labourer to accompany him
Having said that, there is still a long way
scheme would be a non-starter. Critical to the hospital with the smart card. The
to go. The real test would be in issuing landlord could then compel the labourer
to the scheme is its cashless feature which
the smart card in rural locations and in to affix his thumbprint on the smart card
can easily ride on the smart card. The
convincing the beneficiaries for paying the smart card also enables interoperability in reader (in collusion with the hospital
registration fee of Rs.30/-. In the next all the network hospitals right through the authorities) and then avail the benefits.
section we discuss some of the challenges country. This feature too is essential in However, such instances can be detected
in implementing this scheme. view of the migratory nature of BPL by random checks and will have to be dealt
population. Moreover, biometric model in strictly, especially by black listing the
The insurance company as the this smart card will ensure that only bona hospital concerned. The other possibility
implementing agency fide patients receive treatment. The of fraud would be when the hospital
The insurance company has been assigned success of the scheme depends upon the charges the insurance company as well as
the onerous task of implementing the smooth delivery and operation of the smart recovers part of the bill from the patient,
scheme. This is the most challenging part card. Though this technology has been resulting in double billing. However
of the scheme wherein the insurance tested in many micro finance institutions, competition amongst hospitals is likely to
companies will have to build capacity in scaling it up in rural areas will be the real take care of this problem, as patients will
terms of human resources, infrastructure challenge. It has to be seen whether such identify these rotten apples and will
a technology will be able to withstand the approach only the genuine providers.
and finances. The RSBY suggests that the
insurance companies partner with local rugged conditions of rural India. There are
and credible NGOs for reaching out to the
other associated operational issues with Conclusions
regard to maintenance, break downs The RSBY is an attempt at providing health
beneficiaries. This requires a paradigm
and back-up. The distribution of security to the poor of our country. There
shift as usually the insurance companies
smart cards itself will be an enormous could indeed be some problems and
are comfortable in underwriting, not
task which requires huge technical challenges but it has a potential for success
addressing in social issues, like creating
manpower and hardware and, above all, if it is implemented with the same rigour
awareness or in issues like empanelling
meticulous planning. and passion with which this scheme has
providers and ensuring that they adhere
been conceptualised. The biggest
to quality classes.
Providers challenges are roles of insurance
There are a few ethical issues to be The focus on both public and private companies and the smart cards. Only time
considered. Apprehensions have been providers is an attempt at trying to improve will tell how these two will face up to the
expressed with regard to a possibility of access to health care for the BPL patients. challenge that is Bharat.
the insurance companies handing out smart The public sector would be incentivised to
cards to ineligible persons/families to improve the quality of services to attract
increase the numbers with a view to the BPL patients and thereby receive the
garnering additional premium amount from reimbursements. This would help these
the government. However, this may not be beleaguered and under funded CHCs and
as easy an exercise as it may sound as each district hospitals to use the money to
improve their infrastructure, personnel
beneficiary has to be identified and
and drug supply. However, as BPL person
authenticated in public by a government
becomes a VIP, the public hospitals will
official. Verifications will also be
have to evolve a mechanism to keep those
undertaken subsequently.
above poverty line contented. For all this
The tendency of the insurance companies to happen, the public hospitals needs to
to empanel as few hospitals as possible will evolve a performance based incentive
have to be checked upfront while system, so that the government staff are
Dr. N. Devadasan is Faculty, Institute of
evaluating the quotes as well as when a motivated by the extra income. Public Health, Bangalore; and Mr. Anil
contract is being entered into between the Swarup, IAS, is Director General, Labour
The bogey of fraud is ever present in the Welfare, Ministry of Labour & Employment,
States and the insurance companies. Indian insurance scene. While the smart Government of India.

¬˝∑§Ê‡Ê∑ ∑§Ê§‚¥Œ‡Ê
§y™Á ¬zQå Nz˛ ™{u∫å §y™Á LN˛ Y™N˛tÁ∫ qzfi qzfiÁı ™ı åÁ{ƒ“å ßz\åz ™ı LzÃz §Êt∫TÁ“Áz Ãz osÁ §“ÏuƒN˛¡ú tÁƒz FnÆÁut åƒyåo™ uƒN˛ÁÃ N˛Áz
“{@ Æ“ Nz˛ƒ¬ §y™Á qzfi ™ı uåúÏmoÁ N˛y ƒ“ÁÊ Ãz TÏ\∫åz Nz˛ u¬L ÃÊƒztå∆y¬ ∫“Á “{@ EÜÆoå §åÁåz Nz˛ u¬Æz Eão∫Á…by~Æ Ã©™z¬å
\ÁÊY å“Î N˛∫oÁ ƒ∫åΩ EãÆ o·ÆÁı \Áz ßÓTÁz¬ åÁ{ƒ“å Nz˛ N˛úb Nz˛ u¬L ÃÏuƒáÁåÏÃÁ∫ ^lgz osÁ üsÁ ™{u∫å §y™Á ¬zQå N˛Áz LN˛ EÁƒ≈ÆN˛
Nz˛ rÁå \¬ ™ÁT|, Eão∫Á…b~yÆ √ÆƒÃÁÆ ¢˛“∫ÁåÁ §“Ïo úÏ∫Áåy úu∫úÁby ∫“y “{ osÁ EÁ“o| “{@
EÁ{úYÁu∫N˛oÁ FnÆÁut ∆Áu™¬ “{@ EÁTz Gã“ı §y™ÁN˛oÁ| Nz˛ uƒ∆z ÜÆÁå N˛Á uQYoy “{@ §y™ÁN˛oÁ| FÃ EÊN˛ Nz˛ Nz˛ã¸ u§ãtÏ ™ı >™{u∫å §y™Á> Eúåy
Eúåy uåúÓm|oÁ N˛Áz ßÁ{TÁzu¬N˛ Ã™N˛Áu¬N˛ N˛Áz åÁ{ƒ“å uN˛Æz TL ™Á¬ N˛y TÏmƒÁ ú∫ ßy Ã©úÓmo| Á ™ı “{@ N˛∫ §YÁåz Nz˛ u¬L uƒ∆z EÁ{\Á∫
úu∫úÁubÆÁı EÁáÁ∫ ú∫ osÁ √ÆƒÃÁÆ Ãz \Ïgy ÜÆÁå tzåÁ YÁu“Æz osÁ \“Á\ Nz˛ Fuo“ÁÃ osÁ Nz˛ øú ™ı \Áz EÁƒ≈ÆN˛ \ÁzuQ™ EÁƒ∫m ütÁå
ÃÊƒztå∆y¬oÁ N˛Á ÜÆÁå ∫Qoz “ÏL@ FÃ §Áo uÀsuo ú∫ ßy ÜÆÁå tzåÁ YÁu“Æz u\ÃÃz §y™Á N˛∫oÁ “{ osÁ ÃÁs oy §Á\Á∫ N˛y ƒwuÚ ™ı
ú∫ \Áz∫ gÁ¬åz N˛y \ø∫o å“Î uN˛ \“ÁÂ ¬zQå Ãz ú“¬z Æ“ ÃÏuåu≈Yo uN˛ÆÁ \Á ÃNz˛ ßÁTytÁ∫y N˛∫oÁ “{@ \yƒå §y™Á GnúÁtÁı ™ı
úÏu¬uÃÆÁ ÆÁ úÆ|ƒzqm N˛™\Áz∫ “ÁzoÁ “{ ƒ“ÁÂ N˛y N˛ÁzF| T¬o N˛ÁÆ| å“Î “Áz ∫“Á@ √ÆÁúN˛ úu∫ƒo|å “ÏEÁ “{@ \å|¬ Nz˛ ET¬z EÊN˛
N˛úb N˛y TuouƒuáÆÁÊ §“ÏoÁÆo ™ı “Ázoy “{@ uÃÚÁÊo øú ™ı ßy ™{u∫å §y™Á EãÆ üN˛Á∫ Nz˛ Nz˛ Nz˛ã¸ u§ãtÏ ™ı >\yƒå §y™Á GnúÁt< “ÁzTz@
Lzuo“ÁuÃN˛ øú Ãz, N˛úby onƒÁı Ãz N˛™\Áz∫ §y™Á Ãz E¬T “{ EÁ{∫ FÃNz˛ u¬L uƒ∆z ¢˛Á{∆¬
uåÆ™Áı N˛Á ¢˛ÁÆtÁ GeÁÆÁ “{ osÁ LN˛ uƒ∆z N˛y EÁƒ≈ÆN˛oÁ “{ §y™Á u“o \Áz uN˛Ãy §y™Á
qzfi ™ı Eúåz u“oÁzÊ N˛Áz EÁTz §jÁÆÁ “{@ Eo: Æ“ N¿˛Æ N˛Á EÁáÁ∫ “ÁzoÁ “{ ƒ“ ÀƒÆÊ ™ı “y FÃ ƒT| ‚Ë. ∞‚. ⁄UÊfl
u§åÁ N˛Á∫m Nz˛ å“Î “{ uN˛ ™{u∫å §y™Á LzÃz ™ı uƒ∆z “{ EãÆ onƒÁı \{Ãz §y™Á N˛Á ¬zQÁ, •äÿˇÊ

“ ŒÎÁc≈U ∑§ÙáÊ
™¯ Æ“ EÁ∆Á N˛∫oy “ÓÊ uN˛ uƒu•ßå GnútÁı Nz˛ §y™Á¬zQå ™ÁåN˛Áz Nz˛ u¬L ú“¬y EÁƒ≈ÆN˛oÁEÁzÊ
™ı üN˛ubN˛∫m EÁƒ≈ÆN˛oÁ “Áz ÃN˛oy “{@
ÃÏ»y Ãıgy üzT∫
EÜÆq, å{∆å¬ LÃÁzuÃL å EÁ¢˛ FÊ∆Ï∫ıÃ N˛™y∆å∫ (Lå L EÁF| Ãy)
osÁ N˛åÃÁÃ §y™Á N˛™y∆å∫
(Lu∆ÆÁ) qzfi N˛Áz ™\§Óo N˛∫åz ™ı EåÏßƒ N˛Áz §ÁbÂåÁ rÁå osÁ uƒ∆z roÁ uƒúuo Nz˛ Ã™Æ
ü§ãáå \Á §gz üYÁ¬å ªN˛ÁƒbÁz osÁ ÃÊN˛b ™ı uƒuÆ ÃÊÀsÁå osÁ §Á\Á∫ ªN˛ÁƒbÁı Ãz
uåúbåz N˛Á ÃÁ™s| ∫QoÁ “Áz@
ÃÏ»y byEÁz Àƒy u¬ÆÁå
Gú ü§ãáå uåtz∆å,üÏgı∆¬ úÆ|ƒzqm, ™Ázåzb∫y üÁuáN˛∫m, uÃÊTúÓ∫
LN˛ EXZz uƒuåÆÁ™N˛ ƒÁoÁƒ∫m ™ı uƒuÆ ÃÊÀsÁå N˛Áz üÁznÃÁu“o uN˛ÆÁ \ÁÆzTÁ Ãw\åÁn™N˛
uƒYÁ∫ Eúåy ú“¬ ú∫ ¬zåz Nz˛ u¬L, osÁ Æ“ o·Æ §z“o∫ uƒuÆ ÃzƒÁ N˛y o∫“ ¬y \ÁÆzTÁ@
»y oN˛Á¢Ï˛u™ ÃzbÁz
N˛™y∆å∫, ¢˛ÁF|åı∆¬ Ãuƒ|Ã L\zãÃy, \ÁúÁå
√ÆuO˛ÆÁı Nz˛ üÁz¢˛ÁF|¬ Nz˛ EåÏÃÁ∫ (uüu™Æ™) ™ı N˛ßy EÁÆzTy@ “™ YÁ“oz “{ ™Ó¡Æ uåáÁ|∫m EuáN˛
oN|˛ ÃÊTo “Áz@ §y™ÁN˛oÁ| N˛Áz \ÁzuQ™ EÁáÁu∫o ™Ó¡Æ EƒáÁ∫mÁ uüu™Æ™ uåáÁ|∫m N˛∫åz Nz˛ u¬L
N˛∫åy \Áu“L@
»y Ãy LÃ ∫Áƒ
EÜÆq, §y™Á uƒuåÆÁ™N˛ uƒN˛ÁÃ üÁuáN˛∫m, ßÁ∫o
E√ÆƒÀsÁ ßy LN˛ §gy Ã™ÀÆÁ “{, osÁ ™ÏPÆ ÃÏYåÁ oyƒ¿oÁ Ãz ÃÊYÁu∫o å“Î “Ázoy “{@ Æ“ N˛ueå
“Áz \ÁoÁ “{ uN˛ uN˛Ã GnúÁt Nz˛ u¬L N˛Á{å ÃÁ GúÆÁzO˛Á eyN˛ ∫“zTÁ@
ÃÏ»y ÃÁ∫Á“ uƒ¡Ãå
uåtz∆N˛ osÁ §y™Á qzfi N˛y åzoÁ, L¢˛ LÃ L, ÆÓNz˛
Æ“ Àú…b øú Ãz Ã™^åÁ Yu“Æz N˛y uƒuåÆÁ™N˛ úÓÂ\y EÁƒ≈ÆN˛oÁLÂ N˛™ Ãz N˛™ “{ u\ã“ı
§y™ÁN˛oÁ| N˛Áz Eƒ≈Æ úÓ∫Á N˛∫åÁ YÁu“Æz, GÃ Ào∫ ú∫ å“y \“ÁÂ ƒ“ EúåÁ √ÆƒÃÁÆ ÃÊYÁu¬o
N˛∫oz “{Ê@
»y bÁz™ N˛Áú|
N˛ÁÆ|N˛Á∫y ™“Á ü§ãáN˛, EÁÀb~zu¬ÆÁ üÏgı∆¬ uƒuåÆÁ™N˛ üuáN˛∫m

”
EußN˛oÁ|
EußN˛Á| MÆÁız EÁ{∫ N{˛Ãz

uúZ¬z EÊN˛ Ãz EÁTz...
üáÁå ˚Á∫Á L\zãÃy ÃtΩt N˛∫åz EsƒÁ L\zãb EsƒÁ FÃ üN˛Á∫ Nz˛ uåtż∆Áı Nz˛ EßÁƒ ™ı L\zãb
Nz˛ √tÁ∫Á úu∫nÆÁT N˛∫åz ú∫ quo úÓuo| ˚Á∫Á √ÆƒÃÁÆ Nz˛ ÃÊYÁ¬å Nz˛ ÀsÁå ú∫ GÃy
L\zãÃy EåÏ§Êá YÁ“z √ÆMo “¯ EsƒÁ Tuß|o, üN˛Á∫ Nz˛ √ÆƒÃÁÆ Nz˛ ÃÊYÁ¬å ÃÊ§uãá üYu¬o
Æut uN˛Ãy uåáÁ|u∫o Ã™Æ Nz˛ u¬Æz “¯ oÁz üáÁå ∫yuoÆÁı Nz˛ EåÏÃÁ∫ Eúåz ÀƒÁ™y Nz˛ √ÆƒÃÁÆ
L\zãb N˛Áz osÁ L\zãb ÀƒÁ™y N˛Áz uÀsuo GåÏÃÁ∫ N˛Á ÃÊYÁ¬å N˛∫åz Nz˛ u¬L §ÁÜÆ “ÁzTÁ @ Æut
u§åÁ GuYo N˛Á∫m utÆz Ã™Æ Ãz úÓƒ| L\zãÃy L\zãb Nz˛ EuáN˛Á∫ Nz˛ L\zãb FÃNz˛ uƒøÜt EÁY∫m N˛∫oÁ “{ oÁz
N˛Áz Ã™Áõo N˛∫åz EsƒÁ úu∫nÆÁT N˛∫åz ú∫ üáÁå N˛Áz “Ázåz ƒÁ¬y “Áuå N˛Áz ƒ“ úÓ∫Á N˛∫zTÁ
quo úÓuo| N˛∫zTÁ@
uå∫ÀoyN˛∫m Ãz L\zãb
EÁ{∫ Æut ¬Áß “ÁzoÁ “{ oÁz GÃz ƒ“ ÀƒÁ™y
uå∫Ào N˛∫åz EsƒÁ úu∫nÆÁT N˛∫åz N˛Á åÁzubÃ o§ oN˛ üßÁuƒo å“Î N˛Áz ÃÁ¯úzTÁ@
L\zãÃy N˛Áz Ã™Áõo N˛∫åz EsƒÁ GÃN˛Á úu∫nÆÁT “ÁzTÁ \§ oN˛ uN˛ GÃz L\zãb Nz˛ u¬L EÁƒ≈ÆN˛ N˛Á{∆¬ LƒÊ GÜÆ™
N˛∫åz N˛Á GuYo åÁzubÃ tzåÁ EuåƒÁÆ| “{ EãÆsÁ Æut ÀƒÁ™y åz N˛ÁzF| uƒ∆z YÁoÏÆ| N˛y N˛™y å
üáÁå EsƒÁ L\zãb N˛Áz N˛ÁzF| “Áuå “Ázoy “{ oÁz FÃN˛Á rÁå å“Î “Áz tzQy “Áz oÁz L\zãb, L\zãÃy N˛ÁÆ| N˛Áz GÃy
uÀsuo EåÏÃÁ∫ LN˛ tÓÃ∫z N˛y quo N˛y úÓuo| N˛∫ıT@z \ÁLTÁ@ FÃy üN˛Á∫ N˛Á{∆¬ Ãz N˛∫åz Nz˛ u¬L §ÁÜÆ “ÁzTÁ \Áz GÃy
L\zãÃy N˛Á uå∫ÀoyN˛∫m LƒÊ úu∫nÆÁT √ÆMo˛ üN˛Á∫ Nz˛ √ÆƒÃÁÆ ™ı ¬Tz EãÆ √ÆuMoÆÁı ™ı
EsƒÁ Tuß|o “Áz ÃN˛oÁ “{ owoyÆ úq ßy FÃ “ÁzoÁ “{@ L\zãb GuYo N˛™|eoÁ utQÁåz, EúåÁ
L\zãÃy N˛Á uå∫ÀoyN˛∫m LƒÊ úu∫nÆÁT √ÆMo Ã©§ãá ™ı GÃN˛Áz úÓ∫Á N˛Á{∆¬ N˛Á GúÆÁzT N˛∫åz osÁ Eúåz ÀƒÁ™y
EsƒÁ Tuß|o “Áz ÃN˛oÁ \Áz ÀƒÁ™y EsƒÁ L\zãb N˛Áz GÃNz˛ Eúåy ¬Áú∫ƒÁ“y, N˛Á{∆¬ N˛y N˛™y
Nz˛ √Æƒ“Á∫ ú∫ uåß|∫ N˛∫oÁ “{@ \ÁåN˛Á∫y u™¬åz Nz˛ EsƒÁ NÏ˛ü§ãá Nz˛ ünÆq úu∫mÁ™ Nz˛ øú ™ı
quo N˛y úÓuo| Nz˛ u¬L §ÁÜÆ “{@ ¬zuN˛å Æut
GtÁ“∫m ú≈YÁo “y üßÁuƒo quo FÃ üN˛Á∫ N˛y ¬Áú∫ƒÁ“y, ENÏ˛∆¬oÁ
N˛ åz Q N˛Áz Eúåz ™N˛Áå N˛Áz uN˛∫ÁL ú∫ tzåz Nz˛
u¬L EuáN˛Á∫ ÃÁ¯úÁ@ ¬zuN˛å §Át ™ı <N˛> åz ÀƒÆÊ
“ÁzTÁ@ EsƒÁ NÏ˛ü§ãá N˛Á Eünq EsƒÁ tÓ∫Às úu∫mÁ™
“{ o§ ƒ“ quo úÓuo| Nz˛ u¬L §ÁÜÆ å“Î “ÁzTÁ@
“y FÃz uN˛∫ÁL ú∫ tz utÆÁ@ Æ“ <§> Nz˛ EuáN˛Á∫
N˛Á Tuß|o uå∫ÀoyN˛∫m “{@ L\zãb N˛Á Go∫jÁuÆnƒ
ÃÁ¯úz TÆz u“oÁı Nz˛ Ã∫Êqm LƒÊ ÃÏ∫qÁ Nz˛ u¬L ™ÁÊTåz ú∫ L\zãb N˛Áz Eúåz ÀƒÁ™y N˛Áz Ã“y
L\zãb Nz˛ EuáN˛Á∫ Nz˛ uå∫ÀoyN˛∫m N˛Á L\zãb
LƒÊ owoyÆ úq ú∫ üßÁƒ Ãßy EÁƒ≈ÆN˛ N˛t™ GeÁåz Nz˛ u¬L §ÁÜÆ “ÁzTÁ@ u“ÃÁ§ tzåÁ EÁƒ≈ÆN˛ “{@
L\zãb Nz˛ EuáN˛Á∫ Nz˛ uå∫ÀoyN˛∫m Ãz L\zãb Ã§-L\zãb Nz˛ EuáN˛Á∫ N˛y Ã™Áuõo L\zãb N˛Á ÀƒÁ™y Nz˛ ÃÁs ÃÊƒÁt L\zãb N˛Á
o§ oN˛ üßÁuƒo å“Î “ÁzTÁ \§ oN˛ uN˛ GÃz L\zãb Nz˛ EuáN˛Á∫Áı Nz˛ uå∫Ào “Áz \Áåz tuÆnƒ
FÃN˛Á rÁå å“Î “Áz \ÁLTÁ@ FÃy üN˛Á∫ owoyÆ ú∫ (L\zãb Nz˛ EuáN˛Á∫ N˛y Ã™Áuõo Ãz L\zãb N˛Á N˛o|√Æ “{ uN˛ ƒ“ N˛ueåÁF| ™ı Eúåz
úq ßy FÃ Ã©§ãá ™ı GÃN˛Áz \ÁåN˛Á∫y u™¬åz ÃÊ§uãáo utÆz TÆz uåÆ™Áı Nz˛ EåÏÃÁ∫) GÃNz˛ ÀƒÁ™y Nz˛ ÃÁs ™åÁzÆÁzT Ãz ÃÊƒÁt §åÁL ∫Qz
Nz˛ ú≈YÁo “y üßÁuƒo “ÁzTÁ@ ˚Á∫Á uåÆÏMo Ãßy Ã§ Lz\zãbÁı Nz˛ EuáN˛Á∫ ßy osÁ GÃÃz ut∆Á uåtz|∆ üÁõo N˛∫oÁ ∫“z@
üáÁå N˛y ™wnÆÏ EsƒÁ úÁT¬ “Áz \Áåz Nz˛ N˛Á∫m Ã™Áõo “Áz \ÁLzÊTz@
L\zãb ˚Á∫Á L\zãÃy N˛ÁÆÁz˙ N˛Áz u§åÁ ÀƒÁ™y
L\zãÃy N˛y Ã™Áuõo ú∫ L\zãb N˛Á tÁÆnƒ L\zãb Nz˛ üáÁå Nz˛ üuo tÁÆnƒ: N˛y Ã“™uo Nz˛ ÀƒÆÊ N˛y FXZÁåÏÃÁ∫ N˛∫åz ú∫
üáÁå N˛y ™wnÆÏ EsƒÁ GÃNz˛ úÁT¬ “Áz \Áåz Nz˛ üáÁå Nz˛ √ÆƒÃÁÆ Nz˛ ÃÊYÁ¬å N˛Á tuÆnƒ: ÀƒÁ™y Nz˛ EuáN˛Á∫
N˛Á∫m L\zãÃy N˛y Ã™Áuõo ú∫ L\zãb Eúåz Æut L\zãb u§åÁ ÀƒÁ™y N˛y Ã“™oy Nz˛ osÁ
utƒÊTo ÀƒÁ™y Nz˛ üuouåuá N˛y EÁz∫ Ãz GÃN˛Áz Lz\zãb, üáÁå Nz˛ ˚Á∫Á utÆz uåtz|∆Áı Nz˛ EåÏÃÁ∫
GÃz u§åÁ Gå o·ÆÁı Ãz EƒTo N˛∫ÁL u\åN˛y
irda journal 37
39 Mar 2008

EußN˛oÁ|
FXZÁåÏÃÁ∫ ÃÁ{tz N˛Áz ∫tΩt N˛∫ ÃN˛oÁ “{ üÁõo N˛∫åz N˛Á EuáN˛Á∫ å“Î “{ osÁ GÃz “Áuå
EsƒÁ u§N¿˛y N˛Áz ™ÁãÆoÁ tz ÃN˛oÁ “{@ N˛y úÓuo| N˛∫åy “ÁzTy@
L\zãb Nz˛ øú ™ı N˛ÁÆ|
L\zãb ˚Á∫Á ÃÏútÏ | N˛ÁÆ| N˛Áz ÀƒzXZÁåÏÃÁ∫ Ãz ÀƒÁ™y N˛y ÃÊúu ú∫ L\zãb N˛Á T¿“mÁuáN˛Á∫
N˛∫åz N˛Á üuo¢˛¬ Få N˛∫åz “Ázåz ƒÁ¬z ¬Áß ú∫ üáÁå N˛Á EuáN˛Á∫ EãÆsÁ EåÏ§Êáå “Ázåz N˛y t∆Á ™ı L\zãb N˛Áz
Ãßy ∫Áu∆ÆÁı N˛Áz Æut L\zãb GÃN˛Áz ÃÁ¯úz N˛ÁÆ| N˛Áz u§åÁ ÀƒÁ™y Eúåz úÁÃ ∫Qz ÀƒÁ™y Nz˛ ™Á¬, N˛ÁT\Áo LƒÊ
N˛Áz §oÁÆz, ÀƒÁ™y Nz˛ åÁ™ Ãz å N˛∫ Eúåz åÁ™ EãÆ Y¬ EsƒÁ EY¬ ÃÊúu N˛Áz o§ oN˛
L\zãb ÀƒÁ™y Nz˛ QÁoz Ãz N˛∫oÁ “z oÁz FÃy L\zãb N˛Áz FÃ ÃÁ{tz Ãz ∫ÁzNz˛ ∫Qåz N˛Á EuáN˛Á∫ “{ \§ oN˛ uN˛ GÃN˛Á
“Ázåz ƒÁ¬z ¬Áß ú∫ ÀƒÁ™y N˛Á EuáN˛Á∫ “ÁzTÁ@ N˛™y∆å, uN˛Ãy üN˛Á∫ N˛Á ßÏToÁå EsƒÁ EãÆ
™ı üÁõo ∫Áu∆ ™ı Ãz ÃzƒÁEÁı Nz˛ u¬L tzÆ ∫Áu∆ N˛Á ßÏToÁå å uN˛ÆÁ
L\zãb N˛Á ÀƒÁ™y Nz˛ QÁoz ™ı üÁõo ∫Áu∆ ™ı Ãz
∫ÁzN˛ ÃN˛oÁ “{@ ∫Áu∆ ∫ÁzN˛åz N˛Á EuáN˛Á∫ \ÁÆ EsƒÁ GÃNz˛ QÁoz ™ı \™Á å uN˛ÆÁ \ÁÆ@
N˛ÁÆ| N˛Áz úÓ∫Á N˛∫åz Nz˛ u¬L Æut L\zãb åz üáÁå, Nz˛ L\zãb Nz˛ üuo N˛o|√Æ
N˛ÁzF| ∫Áu∆ EuT¿™ ty “{ EsƒÁ N˛ÁzF| √ÆÆ uN˛Æz
“¯ osÁ L\zãb Nz˛ øú ™ı N˛ÁÆ| N˛∫åz N˛Á üuo¢˛¬ L\zãb ˚Á∫Á uN˛Æz TÆz ƒ{á N˛ÁÆÁz˙ Nz˛ úu∫mÁ™
Få Ãßy ∫Áu∆ÆÁı N˛Áz L\zãb ÀƒÁ™y Nz˛ QÁoz ™ı Àƒøú GÃN˛Áz “Ázåz ƒÁ¬y quo N˛y úÓuo|
GÃz \ÁåN˛Á∫y “ÏF| “{ L\zãÃy Nz˛ N˛ÁÆ| N˛Áz ÀƒÆÊ üÁõo ∫Áu∆ ™ı Ãz ∫ÁzN˛ ÃN˛oÁ “{@ L\zãb N˛Áz utÆz TÆ{ EuáN˛Á∫Áı N˛Á GúÆÁzT
N˛y FXZÁåÏÃÁ∫ N˛∫oÁ “{ oÁz: ÀƒÁ™y GÃ ¬zåz N˛∫åz Nz˛ ™ÜÆ Ãßy ƒ{á N˛ÁÆÁż Nz˛ úu∫mÁ™
tzå N˛Áz ∫tΩt N˛∫ ÃN˛oÁ “{ Æut Æ“ uÃÜt “Áz L\zãb N˛Á üáÁå / ÀƒÁ™y Nz˛ u¬L üÁõo ∫Áu∆ Àƒøú GÃN˛Áz Æut N˛ÁzF| quo “Ázoy “{ oÁz ÀƒÁ™y
\ÁoÁ “{ uN˛ L\zãb åz GÃÃz ™Ó¬ o·ÆÁı N˛Áz N˛Á ßÏToÁå N˛∫åz N˛Á tÁÆnƒ GÃN˛y quo úuo| Nz˛ u¬Æz G∫tÁÆy “ÁzTÁ@
§zF|™Áåy Ãz ZÏúÁÆÁ “{ EsƒÁ L\zãb Nz˛ N˛ÁÆÁż Ãz úÓƒ| EåÏßÁT ™ı ty TF| ™tÁı N˛y ∫Áu∆ N˛Áz N˛ÁbN˛∫ L\zãb ˚Á∫Á ÃtΩßÁƒåÁ úÓm| N˛ÁÆ| N˛∫åz Nz˛
GÃz “Áuå “ÏF| “{@ ÀƒÁ™y Nz˛ QÁoz ™ı üÁõo ∫Áu∆ N˛Áz ÀƒÁ™y N˛Áz tz úu∫mÁ™ Àƒøú “Ázåz ƒÁ¬y quo N˛y úÓuo|:
tzåÁ L\zãb N˛Á N˛o|√Æ “{@
N˛. <N˛> <Q> N˛Áz Eúåy ßÓ-ÃÊúu N˛Áz §zYåz N˛Á \§ LN˛ √ÆuO˛ tÓÃ∫z √ÆuMo N˛Áz uN˛Ãy N˛ÁÆ| N˛Áz
tuÆnƒ ÃÁ{úoÁ “{@ <Q> GÃz <Ã> Nz˛ åÁ™ L\zãb Nz˛ üuo¢˛¬ Nz˛ tzÆ “Ázåz ú∫ N˛∫åz Nz˛ u¬Æz L\zãb Nz˛ øú ™ı uåÆÏMo N˛∫oÁ “{
Ãz Eúåz u¬L Q∫yt ¬zoÁ “{ @ FÃ o·Æ \§ oN˛ N˛y N˛ÁzF| uƒ∆z EåÏ§Êá å“Î “{ L\zãb osÁ ƒ“ tÓÃ∫Á √ÆuMo˛ ÃtΩuƒ≈ƒÁÃ Ãz N˛ÁÆ|
Nz˛ G\ÁT∫ “Ázåz ú∫ uN˛ <Q> åz ÃÊúu N˛Áz FÃN˛y ÃzƒÁEÁı N˛Á üuo¢˛¬ o§ oN˛ tzÆ N˛∫oÁ “{ oÁz L\zãb N˛Áz uN˛Ãy üN˛Á∫ N˛y quo
Eúåz u¬Æz Q∫yty “{ oÁz ƒ“ u§N¿˛y N˛Áz å“Î “ÁzTÁ \§ oN˛ uN˛ ƒ“ N˛ÁÆ| N˛Áz úÓ∫Á å“Î
ú“ÏYÊ åz ú∫ ÀƒÁ™y GÃN˛y úÓuo| N˛∫zTÁ ß¬z FÃÃz
∫tΩt N˛∫ ÃN˛oÁ “{ ¬zuN˛å GÃz uÃÜt N˛∫ ¬zoÁ “{ @ ¬zuN˛å ƒ“ ƒÀoÏEÁı N˛y u§N¿˛y Ãz
oyÃ∫z úq Nz˛ EuáN˛Á∫Áı N˛Á “åå “ÏEÁ “{@
N˛∫åÁ “ÁzTÁ uN˛ <Q> åz ™Ó¬ o·Æ N˛Áz \Áå üÁõo ∫Áu∆ N˛Áz ∫ÁzN˛ ÃN˛oÁ “{ Æáuú u§N¿˛y Nz˛
§Ó^ N˛∫ ZÏúÁÆÁ sÁ EsƒÁ ÀƒÁ™y N˛Áz FÃ u¬L GÃN˛Áz üzu o úÓ∫z ™Á¬ N˛Á uƒN¿˛Æ å“Î L\zãb Nz˛ Eú∫ÁuáN˛ N˛ÁÆÁz˙ Nz˛ u¬L uåÆÁzO˛Á
ÃÁ{tz Ãz N˛ÁzF| VÁbÁ “ÏEÁ sÁ@ “ÏEÁ “{ ÆÁ u¢˛∫ u§N¿˛y N˛Á ÃÁ{tÁ Eßy EáÓ∫Á “{@ N˛Á N˛ÁzF| tÁÆnƒ å“Î
Q. <N˛> <Q> N˛Áz Eúåy ßÓ-Ãzúu §zYåz N˛Á Æut LN˛ √ÆuO˛ tÓÃ∫z √ÆuO˛ N˛Áz N˛ÁzF| Eú∫ÁuáN˛
N˛ÁÆ| Nz˛ NÏ˛-ü§ãáå Nz˛ u¬L L\zãb üuo¢˛¬
EuáN˛Á∫ tzoÁ “¯@ §zYåz Ãz úÓƒ| ßÓ ÃÊúu N˛ÁÆ| N˛∫åz Nz˛ u¬L uåÆÏO˛ N˛∫oÁ “{ oÁz uåÆÁzO˛Á
N˛Á EuáN˛Á∫y å“Î
N˛y \ÁÊY N˛∫oz Ã™Æ GÃz ƒ“ÁÊ LN˛ QÁå Æut L\zãb Eúåz N˛ÁÆ| N˛Á ß¬y ßÁÊuo å N˛∫åz L\zãb Nz˛ üuo G∫tÁÆy å“Î “{ ß¬z “y ÀƒÁ™y
N˛Á úoÁ Y¬oÁ “{ u\ÃNz˛ ÃÊ§ãá ™ı <N˛> N˛Á tÁz y “{ oÁz N˛ÁÆ| Nz˛ GÃ ßÁT Nz˛ u¬L åz L\zãb N˛Áz GÃ N˛ÁÆ| Nz˛ úu∫mÁ™Áı Nz˛ uƒøÜt
N˛Áz N˛ÁzF| rÁå å“Î “{@ <Q> <N˛> N˛Áz ÃÓuYo u\ÃN˛Áz GÃåz GuYo jÊT Ãz å“yÊ uN˛ÆÁ “{ quo úÓuo| N˛Á ƒYå tzoÁ “{ @ <Q> <Ã> N˛y
N˛∫oÁ “{ uN˛ FÃ ßÓ ßÁT N˛Áz ƒ“ ÀƒÆÊ N¿˛Æ üuo¢˛¬ N˛Á EáN˛Á∫y å“Î “{@ uúbÁF| N˛∫ tzoÁ “{ osÁ FÃNz˛ u¬L GÃz <Ã>
N˛∫åÁ YÁ“oÁ “{ ú∫ãoÏ QÁå Nz˛ ÃÊ§ãá ™ı N˛Áz “\Á|åÁ tzåÁ “ÁzoÁ “{ @ <N˛> “\Á|åz N˛y ∫Áu∆
ƒ“ <N˛> N˛Áz NÏ˛Z å“Î §oÁoÁ@ <N˛> <Q> GtÁ“∫m: N˛ åz Q N˛Áz <Ã> Ãz 1000 øúÆz Nz˛ u¬Æz <Q> Nz˛ üuo G∫tÁÆy å“Î “{@
N˛Áz FÃNz˛ N¿˛Æ N˛y EåÏ™uo tz tzoÁ “{@ §Át ƒÃÓ¬åz Nz˛ u¬Æz uåÆÏO˛ uN˛ÆÁ “{@ Q Nz˛ NÏ˛-
üáÁå N˛y GúzqÁ Nz˛ N˛Á∫m L\zãb N˛Áz “Ázåz
™ı úoÁ Y¬åz ú∫ uN˛ <Q> N˛Áz N¿˛Æ Nz˛ ü§ãÜá Nz˛ N˛Á∫m Ãz øúÆÁı N˛y ƒÃÓ¬y å“Î “Áz
ƒÁ¬y quo N˛y úÓuo|
Ã™Æ QÁå N˛Á rÁå sÁ <N˛> Eúåy ÃN˛y @ Q N˛Áz Eúåy ÃzƒÁEÁı Nz˛ u¬Æz üuo¢˛¬
üáÁå N˛y GúzqÁ EsƒÁ üƒymoÁ N˛y N˛™y Nz˛

EußN˛oÁ|
N˛Á∫m Æut L\zãb N˛Áz N˛ÁzF| “Áuå “Ázoy “{ oÁz L\zãb Nz˛ EuáN˛Á∫ Ãz EuáN˛ N˛ÁÆ| N˛∫åz ú∫ N˛Áz ™Á¬ §zYåz EsƒÁ GÃÃz Q∫ytåz Nz˛
üáÁå N˛Áz GÃN˛y úÓuo| N˛∫åy “ÁzTy @ üáÁå §ÁÜÆ å“Î u¬L uN˛ÆÁ “Áz@
GtÁ“∫m: <N˛> <Q> N˛Áz ™N˛Áå §åÁåz ™ı F|bÁı \§ L\zãb EuáN˛Áu∫o N˛ÁÆ| Ãz EuáN˛ N˛ÁÆ| \§ L\zãb åz Eúåz ÀƒÁ™y N˛Á åÁ™ G\ÁT∫
N˛y uYåÁF| Nz˛ u¬L uåÆÏO˛ N˛∫oÁ “{ \§uN˛ úzg N˛∫oÁ “{ osÁ Æ“ EuáMÆ N˛ÁÆ| EuáN˛Áu∫o å“Î uN˛ÆÁ “{@
/ §Á}áåz N˛Á N˛ÁÆ| ÀƒÆÊ N˛∫oÁ “{@ úÁzg eyN˛ Ãz N˛ÁÆ| Ãz E¬T å“Î uN˛ÆÁ \Á ÃN˛oÁ oÁz ÀƒÁ™y
¬z å tz å N˛Áz ™Áååz Nz ˛ u¬L §ÁÜÆ \§ ÀƒÁ™y N˛Á åÁ™ G\ÁT∫ oÁz N˛∫ utÆÁ
å“Î §ÁÊáy TF| u\ÃNz˛ N˛Á∫m <Q> N˛Áz YÁzb “{ ™T∫ GÃ ú∫ ™ÏN˛t™ å“Î Y¬ÁÆÁ
ú“Ï Ê Y y@ <N˛> N˛Áz Q N˛Áz FÃN˛Á “\Á| å Á å“Î “{@
\Á ÃN˛oÁ@
tzåÁ “ÁzTÁ@ GtÁ“∫m: <N˛> <Q> N˛Áz Eúåz u¬L 500 VÁzgz
Q∫ytåz Nz˛ u¬L uåÆÏO˛ N˛∫oÁ “{@ <§> 500 EVÁzu o L\zãb Nz˛ ˚Á∫Á uN˛L EåÏ§áÊ Áı Nz˛
\z ã Ãy N˛Á oyÃ∫z úqÁı Ãz EåÏ § Ê á Áı N˛Á úqÁı Nz˛ EuáN˛Á∫
uN¿˛ÆÁãƒÆå LƒÊ GÃNz˛ úu∫mÁ™ VÁzgz osÁ 200 §N˛∫y 6000ø0 ™ı Q∫yt
L\zãb ™ÁåÁ LN˛ √ÆuO˛ Nz˛ ÃÁs EåÏ§Êá N˛∫oÁ
L\zãb Nz˛ ™ÁÜÆ™ Ãz EåÏ§Êá LƒÊ GÃNz˛ N˛ÁÆÁż ¬zoÁ “{@ N˛ YÁ“z oÁz úÓ∫z ÃÁ{tz N˛Áz EÀƒyN˛Á∫
“{ \Áz å“Î \ÁåoÁ uN˛ ƒ“ L\zãb “{ EÁ{∫ åÁ “y
Nz˛ úu∫mÁ™ Àƒøú ú{tÁ tÁÆoƒÁı N˛Áz GÃy üN˛Á∫ N˛∫ ÃN˛oÁ “{@
L\zãb “Ázåz N˛y ∆ÊN˛Á N˛Á N˛ÁzF| N˛Á∫m “{@ GÃN˛Á
Ãz uN¿˛ÆÁã√Æå “ÁzTÁ osÁ GåNz˛ ƒ“y ƒ{áÁuåN˛ L\zãb N˛Áz åÁzubÃ tzåz Nz˛ úu∫mÁ™ ÀƒÁ™y EåÏ§Êá N˛Á uå…úÁtå YÁ“oÁ “{ oÁz EåÏ§Êá
úu∫mÁ™ uåN˛¬ıTz ™ÁåÁı uN˛ Æ“ EåÏ§Êá LƒÊ Æut L\zãb N˛Áz Eúåz ÀƒÁ™y N˛Á N˛ÁÆ| N˛∫oz Nz˛ tÓÃ∫z úq Nz˛ EuáN˛Á∫ ƒ“y “ÁıTz ™ÁåÁı uN˛
N˛ÁÆ| ÀƒÁ™y åz “y uN˛Æz “{@ “ÏL N˛ÁzF| åÁzubÃ üÁõo “ÁzoÁ “{ EsƒÁ ÃÓYåÁ L\zãb “y üáÁå “{@
GtÁ“∫m u™¬oy “{ oÁz FÃN˛Á N˛ÁåÓåy üßÁƒ üáÁå LƒÊ EåÏ§Êá Nz˛ úÓm| “Ázåz Ãz ú“¬z Æut ÀƒÁ™y Eúåz
N˛. <N˛> åz Q Ãz ™Á¬ Q∫ytÁ EÁ{∫ ƒ“ \ÁåoÁ owoyÆ úq Nz˛ §yY å“Î “ÁzTÁ \Áz Nz˛ Æ“y åÁzubÃ EÁúN˛Áz G\ÁT∫ N˛∫ tzoÁ “{ oÁz tÓÃ∫Á úq,
sÁ uN˛ Q L\zãb “{ ú∫ãoÏ GÃz üáÁå N˛Á úoÁ EsƒÁ ÃÓYåÁ üáÁå N˛Áz üÁõo “Ázåz ú∫ “ÁzoÁ@ Æ“ uÃÜt N˛∫åz ú∫ uN˛ Æut GÃz üáÁå Nz˛
å“Î sÁ@ Q Nz˛ ÀƒÁ™y N˛Áz N˛ Ãz ™Á¬ N˛Á ™Ó¡Æ GtÁ“∫m: <N˛> N˛Áz <Q> Ã Ãz ™Á¬ N˛Á N¿˛Æ Ã©§ãá ™ı rÁå “ÁzoÁ EsƒÁ L\zãb Nz˛ üáÁå å
ƒÃÓ¬åz N˛Á EuáN˛Á∫ “{ osÁ Q Nz˛ ÀƒÁ™y ˚Á∫Á N˛∫åz Nz˛ u¬L uåÆÏO˛ N˛∫oÁ “{@ <Ã> üN˛b ™ı “Ázåz N˛Á rÁå “ÁzoÁ oÁz ƒ“ N˛ßy EåÏ§Êá å“Î
™ÏN˛t™Á N˛∫åz ú∫ tzÆ ∫Áu∆ N˛Á <N˛> <Q> Ãz FÃ ™Á¬ N˛Á ÀƒÁ™y “{@ N˛ uåÆÏuO˛ Ãz úÓƒ| Ã Nz˛ N˛∫oÁ, EåÏ§Êá Nz˛ Eúåz ßÁT Nz˛ §Yå N˛Áz úÓ∫Á
Æut N˛ÁzF| ∫Áu∆ ¬zåy “{ oÁz GÃ™ı Ã™ÆÁzu\o Æ“ÁÊ åÁ{N˛∫ sÁ osÁ GÃz úoÁ sÁ uN˛ ™Á¬ <Ã> N˛∫åz Ãz FãN˛Á∫ N˛∫ ÃN˛oÁ “{@
å“Î N˛∫ ÃN˛oÁ@ N˛Á å“Î <ú> N˛Á “{ ¬zuN˛å <Q> FÃ o·Æ Ãz L\zãb N˛Áz ÀƒÁ™y Ã™^N˛∫ EåÏ§áÊ N˛Á uå…úÁtå
Q. <N˛> <Q> N˛Á L\zãb “{ osÁ GÃz Q Nz˛ Euåußr “{@ Eúåz L\zãb N˛Áz FÃ o·Æ N˛Á Æut LN˛ √ÆuO˛ tÓÃ∫z √ÆuO˛ Ãz u§åÁ Æ“ \Áåz
åÁ™ ú∫ áå üÁuõo N˛Á EuáN˛Á∫ “{@ ƒ“ Ã Ãz rÁå “Ázåz ú∫ ßy <Q> Ã ú∫ Eúåz Jm N˛y uN˛ ƒ“ L\zãb “{ EsƒÁ u§åÁ uN˛Ãy GuYo
Q N˛Áz tzÆ ∫Áu∆ N˛y ƒÃÓ¬y N˛∫oÁ “{@ <Ã> ∫Áu∆ ™ı Ãz FÃ ™Á¬ Nz˛ ™Ó¡Æ N˛Áz Ã™ÁÆÁzu\o EÁáÁ∫ Nz˛ uN˛ ƒ“ L\zãb “{ EåÏ§Êá N˛∫oÁ “{,
<Q> Nz˛ üuo tzÆoÁ Ãz ™ÏO˛ “Áz \ÁoÁ “{@ N˛∫ ÃN˛oÁ “{@ ÀƒÁ™y Æut EåÏ§Êá N˛Á uå…úÁtå YÁ“oÁ “{ oÁz
üáÁå N˛y EÁz∫ Ãz uN˛Æz EåÏ§Êá N˛Áz L\zãb å Æ“ L\zãb LƒÊ GÃN˛ ÀƒÁ™y Nz˛ §yY EuáN˛Á∫
oÁz √ÆuO˛To øú Ãz ¬ÁTÓ N˛∫ ÃN˛oÁ “{ å “y LƒÊ G∫tÁÆnƒÁı Nz˛ EÁáÁ∫ ú∫ “y “ÁzTÁ@
GÃÃz §ÁÜÆ “Áz ÃN˛oÁ “{@ L\zãb Nz˛ EuåuáNw˛o N˛ÁÆ| EuáNw˛o sz FÃ
üáÁå N˛y EÁz∫ Ãz
\§ oN˛ uN˛ FÃ Ã©§ãá ™ı N˛ÁzF| EåÏ§Êá å uƒ≈ƒÁÃ N˛Áz twjÊ N˛∫åz ú∫ üáÁå N˛Á tÁÆnƒ
uN˛Æz EåÏ§á
Ê N˛Áz “ÏEÁ “Áz L\zãb åz ÀƒÁ™y N˛y EÁz∫ Ãz \Áz ßy \§ L\zãb u§åÁ GuYo EuáN˛Á∫ Nz˛ ÀƒÁ™y N˛y
EåÏ§Êá uN˛Æz “¯ ƒ“ å oÁz √ÆuO˛To øú Ãz Gã“ı EÁz∫ Ãz uN˛Ãy tÓÃ∫z úq Nz˛ ÃÁs N˛ÁzF| ÃÁ{tÁ
L\zãb å oÁz √ÆuO˛To N˛∫oÁ “{ EsƒÁ N˛ÁzF| tÁÆnƒ N˛Á uå™Á|m N˛∫oÁ
¬ÁTÓ N˛∫ ÃN˛oÁ “{ EÁ{∫ å“Î uå\y oÁ{∫ ú∫
øú Ãz ¬ÁTÓ N˛∫ GåÃz §ÁÜÆ “Áz ÃN˛oÁ “{@ “{ LzÃz ™ı Æut ÀƒÁ™y ∆£tÁı EsƒÁ √Æƒ“Á∫ Ãz
GÃ EãÆ úq N˛Áz uƒ≈ƒÁÃ ut¬ÁoÁ “{ uN˛ Æ“
ÃN˛oÁ “{ å “y GÃÃz uƒú∫yo EåÏ§áÊ N˛y ÃÊßÁƒåÁ: FÃ üN˛Á∫ Nz˛ ÃÁ{tÁ EsƒÁ tÁÆnƒ L\zãb Nz˛ EuáN˛Á∫ qzfi Nz˛
EåÏ§áÊ N˛y ÃÊßÁƒåÁ uå™í ™Á™¬Áı ™ı ™Áåy \ÁÆzTÁ ßyo∫ “{ oÁz üáÁå Få ÃÁ{tÁı EsƒÁ tÁÆnƒ Ãz
§ÁÜÆ “Áz ÃN˛oÁ “{@ \§uN˛ L\zãb åz EåÏ§Êá uN˛Ãy uƒtz∆y √ÆuO˛ §ÁÜÆ “ÁzTÁ@

EußN˛oÁ|
GtÁ“∫m “{@ Æ“ EåÏ§Êá <Ã> N˛y FXZÁåÏÃÁ∫ <Q> LƒÊ
(N˛) <N˛> <Q> N˛Áz u§N¿˛y Nz˛ u¬L ™Á¬ ßz\oÁ “{ Æut L\zãb u™·ÆÁ <Ã> Nz˛ §yY ƒ{á ÆÁ Eƒ{á “Áz ÃN˛oÁ “{@
osÁ uåtz|∆ tzoÁ “{ uN˛ uåá|u∫o ™Ó¡Æ Ãz N˛™
ú∫ å §zYz@ <Ã> <Q> N˛Áz utÆz TÆz uåtz|∆Áı Ãz
ƒm|å EsƒÁ (Q) <N˛> <Ã> Nz˛ \“Á\ N˛Á N˛õoÁå “{ osÁ
\“Á\ ú∫ ™Á¬ Nz˛ üÁõo å “Ázåz ú∫ ßy GÃNz˛
Euåußr ™Á¬ N˛Áz uåáÁ|u∫o ™Ó¡Æ Ãz N˛™ ú∫ \Á¬ÃÁ\y GÃNz˛ u¬L \“Á\y u§¡by \Á∫y N˛∫ tzoÁ “{@ <Q> LƒÊ
Q∫ytåz N˛Á ÃÁ{tÁ N˛∫oÁ “{@ <E> FÃ EåÏ§Êá
EuáN˛Á∫ Ãz §Á“∫ Nz˛ ZtΩ™ üz my Nz˛ §yY Æ“ u§¡by Eƒ{á “ÁzTy@
Ãz §ÁÜÆ “ÁzTÁ@
(Q) <N˛> QÊ N˛Áz “ÀoÁq∫ ÆÏO˛ LN˛ N˛Áz∫Á ¬zå tzåÁı ™ı N˛∫oÁ “{
uƒuå™Æ ÃÁÜÆ uƒ¬zQ tz tzoÁ “{@ <Q> GÃz
uå\y oÁ{∫ ú∫ utÆz <N˛> Nz˛ EÁtz∆Áı N˛Á G®ÊVå
oÁz FÃN˛Á üßÁƒ
N˛∫oz “Ï L §z Y tz o Á “{ @ Æ“ u§N¿ ˛ y ƒ{ á ÀƒÁ™y ú∫ å“Î ú‰gT z Á@
™Áåy \ÁLTy@
L\zãb ˚Á∫Á u™·ÆÁ ƒm|å EsƒÁ ^Á¬ÃÁ\y Ãz
uN˛L Ã™^Á{oÁ N˛y uÀsuo
L\zãb Eúåz ÀƒÁ™y N˛Á N˛ÁÆ| N˛∫oz “ÏL u™·ÆÁ §Á“∫ Nz˛ ¬zå tzåÁı ™ı N˛∫oÁ “{ oÁz FÃN˛Á üßÁƒ
ƒm|å N˛∫oÁ “{ EsƒÁ \Á¬ ÃÁ\y N˛∫oÁ “{ oÁz ÀƒÁ™y ú∫ å“Î ú‰gzTÁ@
L\zãb Nz˛ Få Ã™^Á{oÁı N˛y ƒ“y uÀusuo “ÁzTÁ GtÁ“∫m
\Áz ÀƒÁ™y ˚Á∫Á u™·ÆÁ ƒm|å EsƒÁ \Á¬ÃÁ\y (N˛) <N˛> <Q> N˛Á GÃN˛Á ™Á¬ §zYåz Nz˛ u¬L ¬zQN˛ ßÁ∫oyÆ \yƒå §y™Á uåT™, ∆ÁQÁ
N˛∫åz ú∫ “Ázoy@ ¬zuN˛å Æut L\zãb u™·ÆÁ L\zãb “{ @ <N˛>, <Ã> N˛Áz Eúåz EuáN˛Á∫Áı Ãz N˛ÁÆ|Á¬Æ 2, N˛ÁåúÓ∫, G∫ ütz∆ ™ı §y™Á
ƒm|å EsƒÁ \Á¬ÃÁ\y GÃNz˛ EuáN˛Á∫ Ãz §Á“∫ u™·ÆÁ ƒm|å N˛∫ <Ã> N˛Áz ™Á¬ §zY tzoÁ Ã¬Á“N˛Á∫@
uƒ∆z ¬zQ: úzã∆å ÃÏáÁ∫Áı ú∫ Ã∫N˛Á∫y

twu…bN˛Ázm EÁ{∫ uåtÁå
»y LY.L™.\{å N˛“oz “¯, Æut tz∆ N˛y \åÃÊPÆÁ N˛y EÁ{Ão EÁÆÏ ™ı ƒwuÚ “Ázoy “{, Es|√ÆƒÀsÁ ™ı ƒu∫…e
åÁTu∫N˛Áı Nz˛ \yƒå-Ào∫ N˛Áz ãÆÏåo™ ÃÏuƒáÁLÊ ™Ï“{ÆÁ N˛∫Áåz N˛y q™oÁ ßy Vboy “{@
EÁ \ Nz˛ úu∫tw≈Æ ™ı oz\y Ãz ƒwÚ “Ázoy

\åÃÊPÆÁ, ™wnÆÏ t∫ Nz˛ Vbåz ƒ
§joy \yƒå Eƒuá Nz˛ N˛Á∫m ™Áfi uƒN˛uÃo
“ÏL ¬ÁzT §YoÁı Nz˛ Vboz ™Ó¡Æ, uT∫oy §¯N˛ t∫
EÁ{∫ ™Ï¸ÁÀ¢˛yuo Nz˛ N˛Á∫m åF| åF| Ã™ÀÆÁEÁzÊ
Ãz \Óôz “¯ EÁ{∫ Gúåz ÃzƒÁN˛Á¬ Nz˛ \yƒå-
ƒwuÚ “Ázoy “{, Es|√ÆƒÀsÁ ™ı ƒu∫…e åÁTu∫N˛Áı
Nz˛ \yƒå-Ào∫ N˛Áz ãÆÏåo™ ÃÏuƒáÁLÊ ™Ï“Æ{ Á N˛∫Áåz
N˛y q™oÁ ßy Vboy “{@ Gúåz FÃ ÃÁ™·Æ| N˛Áz
tz∆Áı ™ı “y å“Î §u¡N˛ ßÁ∫o \{Ãz uƒN˛ÁÃ∆y¬ Ào∫ N˛Áz ßy §åÁL ∫Qåz ™ı Eúåz N˛Áz EÃ™s| §jÁåz ™ı Ã∫N˛Á∫ N˛Áz üÁsu™N˛oÁ tzåÁ EuåƒÁÆ|
tz∆Áı Nz˛ ƒu∫…e åÁTu∫N˛Áı N˛y Eus|N˛ Ã™ÀÆÁEÁzÊ úÁoz “{Ê@ “Áz \ÁoÁ “{@ \“ÁÂ oN˛ ßÁ∫o N˛y \åÃÁÊuPÆN˛
N˛y EÁz∫ ÜÆÁå EÁNw˛…b “ÏEÁ “{@ uƒ∆z N˛∫ ÃÊTueo Æut tz∆ N˛y \åÃÊPÆÁ N˛y EÁ{Ão EÁÆÏ ™ı uÀsuo LƒÊ üNw˛uo N˛Á ü«Áí “{, ÃÁ{ßÁSÆ Ãz FÃ
qzfi ™ı t∆N˛Áı Nz˛ N˛ÁÆ|N˛Á¬ Nz˛ ú≥ÁÁo ÃzƒÁuåƒw tz∆ N˛Á EåÏßƒ uƒN˛uÃo tz∆Áı Nz˛ ™ÁÜÆ™ Ãz

úzã∆å
N˛Á¢˛y §jÁ “{ EÁ{∫ úzã∆å Nz˛ q{fi ™ı ÃÏáÁ∫ÁzÊ N˛y FÃ ümÁ¬y N˛Áz uåÆÊufio N˛∫åz Nz˛ u¬L LN˛ N˛y ™ÁuÃN˛ N˛bÁ{oy N˛Á ú{ÃÁ \™Á “ÁzoÁ “{ Få
EÁz∫ FÃN˛Á ÜÆÁå E∫Ãz Ãz TÆÁ “{@ Ãq™ uåÆÁ™N˛ üuáN˛Á∫m N˛y ßy §gy EåÏ∆ÊÃÁEÁzÊ ™ı ÃÁƒ|\uåN˛ qzfi Nz˛ úzã∆å ¢˛lg
tz∆ N˛y \åÃÊPÆÁ ™ı ET¬z 20 ƒ Áı ™ı LN˛ EÁƒ≈ÆN˛oÁ “{@ uåƒz∆, ¢˛lg N˛y ÃÏ∫qÁ ƒ Nz˛ uåƒz∆, ¢˛lg ™{åz\∫Áı Nz˛ \ÏåÁƒ N˛y uƒuá,
EåÏ™Áå Nz˛ EåÏÃÁ∫ ÃzƒÁuåƒw “Ázåz Nz˛ §Át ¬Yy¬Áúå FÃ åF| ÀN˛y™ ™ı N˛™ EÁÆ úÁåz EÁ{∫ uåƒz∆ ú∫ ¬Áß N˛y TÁ∫Êby EÁ{∫ ÃtÀÆÁı
¬ÁzTÁı N˛Á úu∫ƒÁ∫ Nz˛ tÓÃ∫z ÃtÀÆÁı ú∫ uåß|∫ ƒÁ¬z EÃÊTueo qzfi Nz˛ N˛™|YÁ∫y ƒT| N˛Áz N˛Áz FÃ uƒN˛¡ú N˛Á ßy üÁƒáÁå “{ uN˛ GåN˛Á
ÃÁ™Áu\N˛ ÃÏ∫qÁ ütÁå N˛∫åz ™ı Æ“ ÀN˛y™ 100 üuo∆o EåÏtÁå Ã∫N˛Á∫y uÃMÆÏu∫by\
∫“oz N˛y t∫ N˛™ “Áz \ÁLN˛y EÁ{∫ ÃÁs “y
ÃzƒÁuåÆÁz\å Nz˛ Eúu∫u™o EƒÃ∫ “Ázåz Ãz “™Á∫y Eu˚oyÆ N˛“y \Á ∫N˛oy “{@ Nz˛ã¸yÆ Ã∫N˛Á∫ ™ı “Áz, Få Ã§N˛Á uƒƒ∫m “{@
»™ ∆uO˛ ™ı EuáN˛ÁuáN˛ ¬ÁzTÁı N˛y \Ïgåz N˛y Nz˛ ¬TßT 2,00,000 N˛™|YÁ∫y FÃ ÆÁz\åÁ ™ı
ßy ÃÊßÁƒåÁ “{@ LN˛ ƒ{rÁuåN˛, EÁáÏuåN˛ ƒ ∆Áu™¬ “Áz YÏNz˛ “¯@ FÃz ug¢˛ÁFãg-N˛Áãb~£ÆÓ∆å ßuƒ…Æ Nz˛ EƒÃ∫
jÁÊYz Nz˛ ÃÏáÁ∫ Nz˛ ÃÁs ÃÁs GúÆÏO˛ úzã∆å úzã∆å ümÁ¬y N˛“Á \ÁoÁ “{@ FÃ N˛™zby N˛y Ãßy EåÏ∆ÊÃÁEÁzÊ N˛y T“∫y \ÁÊY
ümÁ¬y ÀsÁuúo N˛∫åz N˛Á Æ“ §“Ïo EXZÁ Ãå 2004-2005 Nz˛ §\b ™ı LN˛ GúÆÏO˛ Nz˛ §Át úy.L¢˛.EÁ∫.gy.u§¬ 2005 ™ı Eúzuqo
EƒÃ∫ “{@ tz∆ ™ı ÀƒÁÀs ÃÏuƒáÁEÁzÊ Nz˛ GnNw˛…b N˛ÁåÓå úÁu∫o N˛∫åz N˛y VÁz mÁ ßy N˛y TF| sy ÃÊ∆Ázáå ßy N˛∫ u¬L TL “¯ EÁ{∫ ƒz Ã∫N˛Á∫
“Ázåz ƒ GåN˛y Gú¬u£á Nz˛ N˛Á∫m, úzã∆å Nz˛ u\ÃÃz LN˛ uåÆÁ™N˛ üÁuáN˛∫m ßy ÀsÁuúo Nz˛ uƒYÁ∫Ás| ƒ N˛ÁÆÁ|ãƒÆå Nz˛ u¬L o{ÆÁ∫ “¯@
u¬L E“|oÁ úÁL ¬ÁzTÁı EÁ{∫ ÃzƒÁuåƒw √ÆuO˛ uN˛ÆÁ \Á ÃNz˛@ FÃy ÃÊtß| ™ı 29 utÃ©§∫ Æ“ åÆÁ uƒázÆN˛ \§ EuáuåÆ™ Nz˛ øú ™ı
N˛™ Ãz N˛™ ET¬z 17 ƒ Áż oN˛ úzã∆å ¬zTÁ@ 2004 N˛Áz Ã∫N˛Á∫ åz úzã∆å ¢˛lg ∫zTÏ¬zb∫y úu∫ƒuo|o “Áz \ÁLTÁ, úzã∆å qzfi ™ı EÁ™Ó¬
FÃN˛Á oÁnúÆ| Æ“ “{ uN˛ LN˛ EÁ{Ão »u™N˛ ÆÁ Llg gzƒ¬ú™zãb EsÁu∫by EÁgy| åzãÃ ßy \Á∫y úu∫ƒo|å “Ázåz N˛y EÁ∆Á “{@ FÃ qzfi ™ı
N˛Áu™|N˛ N˛Áz LzÃy §Yo “Á{Ty \Áz ÃzƒÁuåƒwu Nz˛ uN˛ÆÁ sÁ@ FÃ EÁgy|åzãÃ N˛Áz §t¬åz Nz˛ u¬L ÃÁƒ|\uåN˛ qzfi ƒ uå\y qzfi N˛y §y™Á N˛©úuåÆÁı
§Át tÁz t∆N˛Áı oN˛ N˛Á∫T∫ “Áz@ 21 ™ÁY| 2005 N˛Áz LN˛ uƒázÆN˛ ßy ÃÊÃt ™ı Nz˛ Ã™q Æ“ LN˛ N¿˛ÁuãoN˛Á∫y úu∫ƒo|å ƒ YÏåÁ{oy
NÏ˛Z EúƒÁtÁı N˛Áz ZÁzgN˛∫ \{Ãz <åz∆å¬ EÁz¡g ∫QÁ TÆÁ@ FÃ uƒázÆN˛ N˛Áz uƒ ™ÊfiÁ¬Æ N˛y N˛Á Ã™Æ “ÁzTÁ@ EußN˛oÁ|EÁzÊ N˛y ÃoN|˛oÁ, rÁå,
L\ úzã∆å ÀN˛y™> “{, ƒwÚ \åÃÊPÆÁ N˛Á Àb¯ugÊT N˛™zby N˛Áz ßz\ utÆÁ TÆÁ@ FÃ N˛™zby tqoÁ ƒ FÃ åL §Á\Á∫ ™ı ú{∫ \™ÁåÁ ßy LN˛
ÃÁ™Áu\N˛ ÃÊ∫qm “™Á∫z tz∆ ™ı “{ “y å“Î@ åz Eúåy u∫úÁzb| 26 \Ï¬ÁF| 2005 N˛Áz ÃÊÃt åF| YÏåÁ{oy “ÁzTy@ N˛tÁuYo üu∆qm Nz˛ åL
tz∆ N˛y 74 üuou∆o N˛ÁÆ|∫o \åoÁ N˛Áz EÁ\ Nz˛ Ã™q üÀoÏo N˛y “{@ FÃN˛y ü™ÏQ EåÏ∆Ã Ê ÁEÁzÊ EƒÃ∫ “™Á∫z ÃÁ™åz “ÁıTz MÆÁıuN˛ FÃ åL úzã∆å
N˛ÁzF| úzã∆å ¬Áß å“Î Gú¬£á “{@ Få™ı Ãz ™ı u“Æ∫ - 1 QÁoz Ãz ™|YÁ∫y N˛Áz ú{ÃÁ uåN˛Á¬åz §Á\Á∫ Nz˛ t§ÁƒÁı Nz˛ §yY “™ı ÃÊßƒ “{ EÁTz
EuáN˛ÁÊ∆ EÃÊTueo qzfi ™ı “{@ N˛y ÃÏuƒáÁ “{@ Æ“ ƒ“ QÁoÁ “z \“ÁÂ N˛™|YÁ∫y EÁåz ƒÁ¬z utåÁı ™ı LN˛ åF| YÏåÁ{oy u™¬zTy@
uƒtz∆y N˛©úuåÆÁı Nz˛ ÃÊßÁuƒo üƒz∆ Ãz FÃ qzfi
úzã∆å ÃÏáÁ∫ Nz˛ åL N˛t™ ™ı ßy üuo˚uãtoÁ N˛Á øú oz\ “Áz \Áåz N˛y
ßÁ∫o ™ı úzã∆å qzfi Nz˛ ÃÏáÁ∫Áı ú∫ åyuo uƒ ÆN˛ EÁ∆ÊN˛Á “{ u\ÃNz˛ u¬L “™ ¬ÁzTÁı N˛Áz Ã™Æ
YYÁ| Ãƒ| üs™ 1998 ™zÊ üÁ∫©ß “ÏF| sy osÁ ∫“oz ÃYzo ∫“åÁ “ÁzTÁ@
FÃN˛Á oÁnúÆ| Æ“ “{
§\b N˛y VÁz mÁEÁzÊ ™ı ßy GåN˛Á G®zQ sÁ@
åF| úzã∆å ümÁ¬y <EÁzuÃÃ> åÁ™N˛ úu∫ÆÁz\åÁ uN˛ LN˛ EÁ{Ão »u™N˛ úw…eßÓu™ EÁ{∫ EÁ\ N˛y ™ÁÊT
u\ÃN˛Á úÓ∫Á åÁ™ <EÁz¡g L\ ÃÁz∆¬ Llg EÁ\ ÃÁ∫y tÏuåÆÁÂ ™ı \yƒå Eƒuá N˛Á¢˛y §‰j
L©úƒÁ∫™zãb> ™ÊfiÁ¬Æ Nz˛ EÊoT|o sÁ@ LN˛ GÄÁ
ÆÁ N˛Áu™|N˛ N˛Áz LzÃy YÏN˛y “{ u\Ã™ı “™Á∫Á tz∆ ßy ∆Áu™¬ “{@ EÁ{Ão
Ào∫yÆ uƒ∆z rÁı Nz˛ Ã™Ó“ u\ÃNz˛ EÜÆq »y §Yo “ÁzTy \Áz ™wnÆÏ t∫ Nz˛ G∫Áz∫ Vbåz ƒ §z“o∫ ÀƒÁÀ·Æ
§y. Nz˛. ßcÁYÁÆ| sz Gå“Áıåz åF| úzã∆å ümÁ¬y ÃzƒÁEÁzÊ N˛y Gú¬u£á Nz˛ N˛Á∫m uúZ¬y \åTmåÁ
Nz˛ ÃÓfiúÁo uƒ™∆| ƒ EÜÆÆå Nz˛ §Át uN˛ÆÁ sÁ@ ÃzƒÁuåƒwu Nz˛ §Át tÁz ™ı “y Æ“ úÁÆÁ TÆÁ sÁ uN˛ LN˛ ßÁ∫oyÆ 63.8
FÃ åF| ÀN˛y™ N˛Áz Nz˛ã¸yÆ Ã∫N˛Á∫ Nz˛ Gå ƒ | oN˛ ÃÁ™ÁãÆo: \yuƒo ∫“oÁ “{@ Nw˛úÁz m
t∆N˛Áı oN˛ N˛Á∫T∫ ƒ ütÓ m Nz˛ ÃÁs ÃÁs EåzN˛ ™“Á™Áu∫ÆÁı \{Ãz
N˛™|YÁu∫ÆÁı Nz˛ u¬L N˛ÁÆÁ|uãƒo ßy N˛∫ utÆÁ
TÆÁ “{ u\åN˛y ßoy| 2 Eü{¬ 2004 ÆÁ GÃNz˛ “Áz@ õ¬zT, ™¬zu∫ÆÁ ƒ qÆ ∫ÁzTÁı N˛Á G©™Ó¬å EÁ\
§Át “ÏF| “{@ ÃÏ∫qÁ ÃzƒÁEÁzÊ Ãz \Ïgz ¬ÁzT Æ˘uú LN˛ ƒ{uæÁN˛ ÃnÆ “{ EÁ{∫ uƒN˛uÃo tz∆Áı ™ı
FÃ ÀN˛y™ Nz˛ §Á“∫ ∫Qz TL “¯@ ÃtÀÆÁı Nz˛ ÃÁ™ÁãÆ \yƒå Eƒuá 80 Ãz 85 ƒ | oN˛ N˛y “Áz
u¬L uƒN˛¡ú EÁ{∫ úÁ∫tu∆|oÁ “{@ YÏN˛y “{@ ∆Ázá u∫úÁzb| Nz˛ EåÏÃÁ∫ uYuN˛nÃÁ qzfi

úzã∆å
ú“¬ ú∫ å“yÊ uN˛ÆÁ \Á ∫N˛oÁ “{@ FÃ™ı ÃÊTueo N˛ÁÆÁ|ãƒÆå Nz˛ ü«Áí N˛Á ßy uƒu∆…b G®zQ uN˛ÆÁ
uå\y qzfi ƒ T{∫ Ã∫N˛Á∫y Àƒ{uXZN˛ ÃzTeåÁı TÆÁ “{@
N˛Áz ßy LN˛ ßÓu™N˛Á EtÁ N˛∫åÁ “ÁzTÁ@ FÃ u∫úÁzb| ™ı NÏ˛Z ™Ó¬ßÓo ü«ÁíÁÊz N˛Áz ßy ZÏEÁ TÆÁ
“Á¬ ™ı LN˛ ∆Ázá ÃÊÀsÁå Nz˛ EåÏ™Áå Nz˛ EåÏÃÁ∫ “{ u\ÃÃz FÃN˛Á åyuo uƒ ÆN˛ ™“nƒ ßy §jÁ “{@
ƒu∫…e åÁTu∫N˛Áı N˛Áz Ãå 2010 oN˛ “™Á∫z tz∆ ™ı ÀƒÁÀ·Æ §y™Á N˛Á GtÁ“∫m Nz˛ u¬L ƒu∫…e åÁTu∫N˛Áı N˛Áz §y™z Nz˛
§y™z Nz˛ ÃÊ∫qm N˛Á FoåÁ uƒN˛ÁÃ “ÁzTÁ uN˛ ™Áfi Æ“ qzfi ø 25000 ÃÊ∫qm N˛Á ™Á{u¬N˛N˛ EuáN˛Á∫ GåN˛y N˛ÁzF| ßy
N˛∫Áz‰g N˛y Ãy™Á úÁ∫ N˛∫ \ÁLTÁ@ §y™Á Nz˛ EÁÆÏ “Áz, u™¬åÁ EÁƒ≈ÆN˛ “{@ Æut N˛ÁzF| ƒu∫…e
™Á{u¬N˛N˛ EuáN˛Á∫ u¬L Ãq™ \åÃÊPÆÁ 30 N˛∫Áz‰g Ãz EuáN˛ “Áz åÁTu∫N˛ üyu™Æ™ tzNåz Nz˛ u¬L o{ÆÁ∫ “{ o§
\ÁLTy EÁ{∫ FÃN˛Á NÏ˛¬ 3 üuo∆o ÀƒÁÀ·Æ GÃz uN˛Ãy ßy EÁáÁ∫ ú∫ §y™z Ãz ƒÊuYo å“Î
GåN˛y N˛ÁzF| ßy EÁÆÏ §y™Á Nz˛ uƒuƒá üN˛Á∫Áı N˛Á ¢˛ÁÆtÁ GeÁLTÁ@ uN˛ÆÁ \ÁåÁ YÁu“L@ uƒ∆t ÃÁ™Áu\N˛ ÃÏ∫qÁ
“Áz, u™¬åÁ EÁƒ≈ÆN˛ Eßy Æ“ üuo∆o ÃÊTueo qzfi ™ı ™Áfi LN˛ ÆÁz\åÁ Nz˛ EãoT|o Æ“ ßy \ø∫y ™ÁåÁ TÆÁ “{
üuo∆o Ãz N˛™ “{@ Æ“ qzfi tz∆ N˛y Es|√ÆƒÀsÁ uN˛ “∫ √ÆuO˛ uå\y ú“¬ ú∫ Ã™Æ ∫“oz “y
“{@ Nz˛ u¬L LN˛ åF| YÏåÁ{oy “ÁzTy@ ßÁƒy ÃÏqÁ Nz˛ u¬L úzã∆å ƒ PÀ·Æ §y™Á Nz˛ u¬L
ú“¬ N˛∫z@ ÃÁ™ÁãÆ t∫Áı ú∫ 65 ƒ | oN˛ N˛y
™Ó¬ßÓo úzã∆å EÁÆÏ Nz˛ åÁTu∫N˛Áı ÆÁ FÃNz˛ Gú∫ N˛y EÁÆÏ Nz˛
“™Á∫z tz∆ Nı˛ LN˛ E∫Ãz Ãz ÀƒÁÀ·Æ §y™Á N˛y ¬ÁzTÁı TÁz ßy ÀƒÁÀ·Æ §y™Á Gú¬£á “Áz EÁ{∫ u§åÁ
GúzqÁ “Ázoy ∫“y “{ EÁ{∫ §t¬oz \åÃÁÊuPÆN˛ uN˛Ãy Hú∫y EÁÆÏ N˛y Ãy™Á Nz˛ §Êáå Nz˛ GÃz
t§ÁƒÁı Nz˛ N˛Á∫m u\ÃNz˛ o“o ƒwÚ ¬ÁzTÁı N˛y §y™Á Nz˛ úÏåƒ|Ãå N˛Á EuáN˛Á∫ utÆÁ \ÁL@ üyu™Æ™
ÃzPÆÁ ™ı G∫Áz∫ ƒwuÚ “Áz ∫“y “{, E§ FÃ ÆÁ Euou∫O˛ <¬ÁzugÊT> EåÁƒ≈ÆN˛ øú Ãz uN˛Ãy
™ı EnÆÁáÏuåN˛ \ub¬ QÁz\Áz EÁ{∫ åF| QÁÀ·Æ Ã™ÀÆÁ N˛Áz EåtzQÁ N˛∫åÁ §y™Á N˛©úuåÆÁı ƒ ßy uÀsuo ™ı HÊYy t∫ ú∫ å“y MÆÁıuN˛ ÃzƒÁuåƒw
ÃzƒÁEÁzÊ Nz˛ N˛Á∫m úu≥Á™y tz∆Áı ™ı åÁTu∫N˛Áı N˛y Ã∫N˛Á∫ Nz˛ u¬L ßy ™Ïu≈N˛¬ “Áz ∫“Á “¯@ NÏ˛Z åÁTu∫N˛Áı Nz˛ úÁÃ ÃÊÃÁáå ßy EnÆão Ãyu™o
EÁ{Ão EÁÆÏ 90 ƒ | N˛y “Áz \ÁLTÁ@ To EÁáy utåÁı ú“¬z §Á∫oyÆ §y™Á uåÆÁ™N˛ EÁ{∫ uƒN˛ÁÃ “Ázoz “{@ ™Ó¬ ßÁƒåÁ Æ“ “{ uN˛ oÏ¬åÁn™N˛ øú Ãz
∆oÁ£ty ™ı \Áz üTuo “ÏF| “{ GÃÃz Ãå 2050 üuáN˛∫m åz ÀƒÁÀ·Æ §y™Á Ãz \Ïgz Ãßy úqÁı ÆÏƒÁ EsƒÁ ÃzƒÁN˛Á¬ ™ı §y™Á ¬zåz ƒÁ¬Áı Nz˛ ßÏToÁå
oN˛ \Á“z LN˛ \ÁúÁåy “Áz ÆÁ EÁÀb~zu¬ÆÁ N˛Á N˛y \ÁÊY Nz˛ u¬L LN˛ ƒuN|˛ÊT T¿Óú N˛Á Teå Ãz ƒu∫…e åÁTu∫N˛Áı Nz˛ u¬L §ÁáÁ å ™ÁåÁ \ÁL
uåƒÁÃy EÁ{Ão øú Ãz 100 ƒ | oN˛ \yuƒo uN˛ÆÁ sÁ u\ÃNz˛ ÃÊÆÁz\N˛ EÁF|.EÁ∫.gy.L Nz˛ EÁ{∫ GåN˛y ÃÁ™ÁãÆ ÀƒÁÀ·Æ EÁ{∫ uYuN˛nÃN˛yÆ
∫“zTÁ@ ƒ{rÁuåN˛Áı åz Æ“ uÃÚ N˛∫ utÆÁ “{ uN˛ ÃÁ™ÁãÆ §y™Á Nz˛ ÃtÀÆ Nz˛. Nz˛.»yuåƒÁÃå sz@ EÁƒ≈ÆN˛oÁEÁzÊ ú∫ úÓ∫y ÃÊƒtz å∆y¬oÁ utQÁF|
™åÏ…Æ Nz˛ <\yãÃ> \Áz ÀƒÀs \yƒå Nz˛ u¬L üÁuáN˛∫m Nz˛ N˛ÁÆ|N˛Á∫y uåtz∆N˛ úy.Ãy.\z©Ã \ÁL@ uN˛Ãy ßy uÀsoy ™ı ú“¬z Ãz “ÏL ∫ÁzT Nz˛
üNw˛uo åz ú“¬z “y “™ı utL “{ ƒz “™ı ™ÁåuÃN˛ Nz˛ E¬ÁƒÁ FÃNz˛ ÃtÀÆÁı ™ı Nz˛ã¸yÆ ÀƒÁÀ·Æ ƒ åÁ™ ú∫ \{Ãz ∫O˛YÁú ÆÁ ™áÏ™“z Nz˛ §“Áåz uN˛Ãy
ƒ ∆Á∫yu∫N˛ øú Ãz ÃÁ{ ƒ | oN˛ Ãq™ §åÁL úu∫ƒÁ∫ N˛¡ÆÁm ™ÊfiÁ¬Æ EÁ{∫ §y™Á N˛©úuåÆÁı ƒu∫…e åÁTu∫N˛Á N˛Áz §y™z Ãz ƒÊuYo å uN˛ÆÁ
∫QÁ ∫N˛oz “{ Æut “™ Eúåz úÆÁ|ƒ∫m Ãz úÓ∫Á Nz˛ üuouåuá ßy sy@ FÃ ú{å¬ ™ı T{∫ Ã∫N˛Á∫y \ÁLÊ@ ƒu∫…e åÁTu∫N˛Áı N˛Áz “™Á∫z §yY Ã©™ÁååyÆ
oÁ¬ ™z¬ §åÁ ÃNı˛@ FÃ §t¬oz úu∫c≈Æ Nz˛ Àƒ{uXZN˛ ÃÊTeåÁı Nz˛ üuouåuáÆÁı N˛Áz ßy ÀsÁå ÀsÁå ut¬Áåz Nz˛ u¬L Ã∫N˛Á∫, ÀƒÁÀ·Æ ™ÊfiÁ¬Æ
N˛Á∫m ƒu∫…e åÁTu∫N˛Áı Nz˛ u¬L LN˛ úÓ∫y o∫“ utÆÁ TÆÁ sÁ@ T¿Á™ym qzfi N˛y ÀƒÁÀ·Æ Ã©§ãáy EÁ{∫ §y™Á N˛©úuåÆÁı Nz˛ §yY ú∫Àú∫ ÃÊƒÁt N˛Áz
Ãz åÆÁ twu…bN˛Ázm ú{tÁ N˛∫åz N˛y EÁƒ≈ÆN˛oÁ Ã™ÀÆÁEÁzÊ Nz˛ Ã™T¿ øú ƒ “¬ N˛Áz ß¬y ßÁÊuo §åÁL ∫QåÁ ßy EÁƒ≈ÆN˛ “{@
“{@ úzã∆å ÆÁz\åÁEÁzÊ N˛y üNw˛uo, ƒwÚÁı Nz˛ u¬L Ã™^åz ƒ ÃÏ^Áƒ tzåz Nz˛ u¬L LN˛ uƒ∆z Ã§ -
åL üN˛Á∫ Nz˛ ¬ÁßúÓm| uåÆÁz\å EƒÃ∫, tÓ∫TÁ™y TÏú ßy §åÁÆÁ TÆÁ sÁ u\ÃN˛y EåÏ∆ÊÃÁEÁzÊ N˛Á
ÀƒÁÀ·Æ ÃzƒÁEÁzÊ Nz˛ ÃÁƒ|\åyN˛∫m Nz˛ u¬L ú“¬, ¬Áß GeÁN˛∫ FÃ ú{å¬ åz Eúåy u∫úÁzb| “Á¬
Ãzƒuåƒwu N˛y EÁÆÏ N˛y úÏåƒy|qÁ, N˛™ üyu™Æ™ ™ı \Á∫y N˛y “{@ ÀƒÁÀ·Æ §y™Á N˛y N˛y™o, ÃÊ∫qm
EsƒÁ uå:∆Ï¡N˛ ÃÁ™Óu“N˛ ÀƒÁÀ·Æ §y™Á ÆÁz\åÁEÁzÊ N˛Á tÁÆ∫Á, üyu™Æ™ ÃÊT¿“m, tÁƒÁı N˛Á ßÏToÁå,
N˛y Gú¬u£á, EÀúoÁ¬Áı, EÁ∫ÁzSÆ Nz˛ã¸Áı ƒ GnúÁtÁı N˛Á uƒúmå EÁ{∫ ÃÁ™ÁãÆ åÁTu∫N˛Áı Nz˛
u¬L Gú¡£áoÁ - Få Ã§ uƒ ÆÁı N˛y FÃ u∫úÁzb| ¬zQN˛ ¬ÁF|¢˛ Fã∆Áz∫ãz Ã L\zãbΩÃ ¢z˛g∫z∆å
™ÁåuÃN˛ ÀƒÁÀ·Æ Nz˛ u¬L uƒ∆Á¬ Ào∫ ú∫ EÁ}¢˛ FulgÆÁ üzuÃgzãb EÁ{∫ EÁF|.EÁ∫.gy.L
Nz˛ã¸Áı N˛y ÀsÁúåÁ - Æ“ Ã§ ™Áfi Ã∫N˛Á∫ N˛y ™ı uƒ∆t YYÁ| “{ EÁ{∫ ty TF| EåÏ∆ÊÃÁEÁzÊ Nz˛ LgƒÁÆ\∫y §Ázg| ™ı ™z©§∫@

statistics - non-life insurance
Report Card: General

GROSS PREMIUM UNDERWRITTEN FOR AND UP TO THE MONTH OF JANUARY2008
(Rs.in Crores)
JANUARY APRIL - JANUARY GROWTH OVER THE
INSURER CORRESPONDING PERIOD
2007-08 2006-07 2007-08 2006-07
OF PREVIOUS YEAR
Royal Sundaram 70.30 56.31 566.20 494.13 14.58
Tata-AIG 82.81 66.62 672.28 636.27 5.66
Reliance General 149.17 101.12 1673.64 712.26 134.98
IFFCO-Tokio 127.34 101.70 927.47 925.00 0.27
ICICI-lombard 278.43 275.03 2903.10 2601.56 11.59
Bajaj Allianz 212.57 166.77 1925.46 1474.27 30.60
HDFC General 17.46 14.28 185.98 156.21 19.05
Cholamandalam 48.00 29.05 435.52 258.65 68.38
Future Generali* 4.42 0.00 5.43 0.00
New India 450.72 407.75 4361.44 4099.73 6.38
National 373.96 362.25 3296.06 3108.45 6.04
United India 315.87 273.10 3076.39 2901.78 6.02
Oriental 329.81 335.37 3224.71 3305.00 -2.43
PRIVATE TOTAL 990.50 810.87 9295.08 7258.36 28.06
PUBLIC TOTAL 1470.36 1378.47 13958.60 13414.96 4.05
GRAND TOTAL 2460.87 2189.35 23253.68 20673.32 12.48
SPECIALISED INSTITUTIONS
Credit Insurance
ECGC 56.99 49.37 530.95 492.78 7.75
Health Insurance
Star Health & Allied Insurance 4.29 1.20 157.25 16.86 832.67
Apollo DKV* 0.49 0.00 0.61 0.00
Health Total 4.78 1.20 157.85 16.86 836.27
Agriculture Insurance
AIC 126.57 21.52 700.16 483.33
Note: Compiled on the basis of data submitted by the Insurance companies
* Commenced operations in November, 2007.

GROSS PREMIUM UNDERWRITTEN BY NON-LIFE INSURERS WITHIN INDIA (SEGMENT WISE):
Sl. Insurer Fire Marine Marine Marine Engineering Motor Mo

No. Cargo Hull
1 Royal Sundaram 54.24 12.35 12.35 0.00 29.73 285.77 2
Previous year 82.68 12.00 12.00 0.00 27.52 215.37
2 TATA-AIG 105.73 72.48 72.48 0.00 22.68 182.37 1
Previous year 115.29 51.81 51.81 0.00 21.70 215.35
3 Reliance 112.87 32.14 25.14 7.00 74.95 982.71 7
Previous year 127.00 19.41 12.63 6.78 53.65 261.80 2
4 IFFCO Tokio 190.70 49.34 41.62 7.73 67.19 320.62 2
Previous year 253.50 114.09 37.74 76.35 67.98 274.12 2
5 ICICI Lombard 401.54 178.02 48.16 129.86 144.58 955.49 6
Previous year 356.29 116.52 42.61 73.91 148.36 809.23 7
6 Bajaj Allianz 221.33 62.47 56.34 6.13 107.12 954.66 6
Previous year 313.63 56.15 48.16 7.99 122.03 564.13 3
7 HDFC Chubb 6.23 2.20 2.20 0.00 4.54 102.17
Previous year 5.66 1.71 1.71 0.00 3.19 101.76
8 Cholamandalam 58.39 25.64 24.16 1.48 22.98 153.71 1
Previous year 65.08 19.82 18.97 0.85 18.11 60.57
9 Future Generali $ 0.23 0.52 0.52 0.00 0.18 0.11
Previous year 0.00 0.00 0.00 0.00 0.00 0.00
10 New India 603.14 307.27 130.32 176.94 161.37 1,487.00 8
Previous year 757.44 225.83 110.11 115.73 153.10 1,468.05 9
11 National 287.43 131.60 90.55 41.05 100.17 1,561.37 9
Previous year 397.75 131.31 87.07 44.24 87.86 1,426.56 9
12 United India 412.10 223.36 125.58 97.78 153.07 1,022.59 6
Previous year 549.75 226.84 103.04 123.80 157.02 863.78 5
13 Oriental 402.92 262.49 121.70 140.80 162.90 1,196.26 7
Previous year 458.05 284.22 128.25 155.98 151.10 1,265.70 8
Grand Total 2,856.62 1,359.38 750.61 608.77 1,051.30 9,204.72 6,0
Previous year 3,482.13 1,259.73 654.09 605.63 1,011.63 7,526.41 5,4
SPECIALISED INSTITUTIONS
14 ECGC *
Previous year
15 Star Health & Allied Insurance**
Previous year
16 Apollo DKV $
Previous year
Note: In case of public sector insurance companies, the segment wise data submitted may vary from the flash Nos filed with the Authority. As
such, the industry totals may vary from the flash figures published for the month of December-2007.
$ Commenced operations in November, 2007.
*Pertains to Credit Insurance.
** Pertains to Health Insurance.
Compiled on the basis of data submitted by the Insurance companies

FOR THE PERIOD APRIL - DECEMBER - 2007 (PROVISIONAL & UNA

(PROVISIONAL UDITED)
UNAUDITED)
(Rs.Crore)
or Motor OD Motor TP Health Aviation Liability Personal All Others Grand Total
Accident
.77 231.55 54.22 80.10 0.00 4.08 22.62 7.00 495.90
5.37 193.62 21.75 70.14 0.00 6.73 18.73 4.65 437.82
.37 152.01 30.35 52.07 0.00 73.90 78.20 2.04 589.48
5.35 197.15 18.20 34.48 0.08 57.98 57.86 15.12 569.66
.71 713.26 269.45 221.10 5.99 11.86 36.56 46.27 1,524.47
.80 261.00 0.80 48.57 5.50 8.22 14.28 72.71 611.14
.62 219.86 100.77 66.99 4.03 20.14 15.17 65.96 800.13
4.12 269.22 4.90 41.42 1.74 9.91 12.99 118.01 893.76
.49 679.74 275.75 674.41 30.07 67.71 94.33 78.52 2,624.67
9.23 713.28 95.96 498.53 24.05 73.82 98.50 201.23 2,326.54
.66 695.48 259.17 181.57 9.81 35.92 29.02 111.00 1,712.89
4.13 391.89 172.24 116.60 5.51 22.40 19.53 87.51 1,307.50
.17 90.53 11.65 25.69 0.00 3.80 4.46 19.43 168.51
.76 96.27 5.49 7.52 0.00 3.10 6.76 12.23 141.93
.71 123.68 30.03 82.59 -0.15 11.63 9.09 23.64 387.52
0.57 55.86 4.71 27.73 0.39 12.52 6.58 18.81 229.60
0.11 0.10 0.02 0.00 0.00 0.00 0.00 0.00 1.04
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
.00 811.44 675.56 856.74 51.26 66.03 62.78 315.31 3,910.90
8.05 944.03 524.02 536.93 77.06 49.40 65.51 379.79 3,713.12
.37 981.45 579.92 466.74 38.24 29.93 47.41 259.22 2,922.10
6.56 977.66 448.89 269.43 62.74 28.99 43.99 297.57 2,746.20
.59 613.79 408.79 448.33 20.59 50.34 64.33 370.24 2,764.96
3.78 544.75 319.02 302.18 24.00 50.63 65.29 389.19 2,628.68
.26 737.55 458.71 402.52 58.94 51.58 67.47 289.81 2,894.90
5.70 852.50 413.20 315.00 80.13 45.14 52.25 315.86 2,967.47
.72 6,050.34 3,154.38 3,558.84 218.79 426.91 531.42 1,588.43 20,796.43
6.41 5,497.23 2,029.17 2,268.52 281.20 368.83 462.28 1,912.68 18,573.41
473.96 473.96
443.41 443.41
136.00 14.87 2.09 152.96
3.99 11.66 0.00 15.66
0.12 0.12
0.00 0.00

round up
The 10 th Global Conference of Actuaries (GCA) was held on

7th and 8th February
February,, 2008 at Mumbai. It was jointly organized by Institute
of Actuaries of India (IAI) and International Actuarial Association (IAA).
Mr. C.S. Rao, Chairman, IRDA seen lighting

the lamp to mark the inauguration of the
Conference. Also seen in the picture is
Mr. K.S. Gopalakrishnan, CFO, Aegon.
Dr. R. Kannan, Member (Actuary), IRDA making a

presentation at the Conference. Also seen in the
picture are (L to R); Mr. Stewart Ritchie, President,
Faculty of Actuaries, UK; and Mr. David G. Hartman,
President, IAA.
Ms. J. Anita, Deputy Director (Actuary),

IRDA making a presentation.
Seated on the dais is Mr. Richard Kipp, MD,
Milliman India.

events
11 - 12 Mar 2008 3rd Asian Conference on Takaful

Venue: Singapore By Asia Insurance Review, Singapore
13 - 14 Mar 2008 Conference on Terrorism & Political Risk in Asia

15 - 17 Mar 2008 The MultaQa Qatar Conference

Venue: Qatar By Qatar Financial Centre Authority
17 - 20 Mar 2008 World Insurance Forum

Venue: Bahrain By Dubai International Financial Centre DIFC
25 - 26 Mar 2008 Moscow International Reinsurance Congress

Venue: Moscow, Russia By Russian Polis – Information Group
27 - 28 Mar 2008 Alternative Risk Financing Conference

02 - 03 Apr 2008 Annual Policy Conference 2008

Venue: New Delhi By Sa-Dhan, New Delhi
15 - 16 Apr 2008 2nd Life Summit in Asia

Venue: Hanoi, Vietnam By Asia Insurance Review, Singapore
28 - 29 Apr 2008 2nd Middle East Conference on Bancassurance

Venue: Bahrain & Alternative Distribution Channels
By Asia Insurance Review, Singapore
28 – 29 Apr 2008 Asia Insurance Summit

Venue: Singapore By Informa Finance, Singapore.

RNI No: APBIL/2002/9589
“ view point
I would expect that one of the first requirements to appear might be disclosure
requirements related to insurer underwriting standards for various products.
Ms Sandy Praeger
President of the National Association of Insurance Commissioners (NAIC)
and Kansas Insurance Commissioner
The sharing of experience, knowledge and expertise in managing crises will

strengthen the region’s (Asian) ability to cope with major operational disruption,
distressed financial institution and market disruption.
Ms Teo Swee Lian
Deputy Managing Director, Prudential Supervision,
Monetary Authority of Singapore
In a better regulatory environment, financial institutions will be encouraged to

develop creative ideas at their own initiative, and this we expect will lead to better
financial services.
Mr Takafumi Sato
Commissioner, Financial Services Agency, Japan
There could be a drop (in premiums) depending on the profile of the individual. In
fact, we expect pricing to become more rational. Insurers will adopt a risk-based
pricing approach to determine their premium.
Mr C S Rao
Chairman, Insurance Regulatory & Development Authority, India
Jargon is also a significant problem, and key information is often not prominently
communicated. It can be difficult even to grasp the type of consumer a particular
product might be right for.
Ms Sarah Wilson
Director and Insurance Sector Leader, FSA, UK
It should be clearly understood that the regulatory capital requirements are

minimums which insurers must meet, not the levels at which they should be running
their businesses.
Mr Tom Karp
Executive General Manager, Australian Prudential Regulation Authority

”

Irda Mar08

Caricato da

Informazioni sul documento

Titolo originale

Copyright

Formati disponibili

Condividi questo documento

Condividi o incorpora il documento

Opzioni di condivisione

Hai trovato utile questo documento?

Questo contenuto è inappropriato?

Copyright:

Formati disponibili

Irda Mar08

Caricato da

Copyright:

Formati disponibili

Volume VI, No.

Coverage against Maritime Disasters

’Ë◊Ê ÁﬂÁŸÿÊ◊∑§ •ı⁄U Áﬂ∑§Ê‚ ¬˝ÊÁœ∑§⁄UáÊ

© 2007 Insurance Regulatory and Development Authority.

IRDA Journal (Vol 6 Iss 4).pmd 2 3/7/2008, 3:29 AM

IRDA Journal (Vol 6 Iss 4).pmd 3 3/7/2008, 3:29 AM

Coverage in Marine Insurance

Protection & Indemnity Insurance

Laws, Rules and Regulations

Stock Throughput Policy

Statistics - Life Insurance 4

EußN˛Á| MÆÁız EÁ{∫ N{˛Ã

Rashtriya Swasthya Bima Yojana

IRDA Journal (Vol 6 Iss 4).pmd 4 3/7/2008, 3:29 AM

IRDA Journal (Vol 6 Iss 4).pmd 5 3/7/2008, 3:29 AM

statistics - life insurance

Jan, 08 Up to Jan, 08 Up to Jan, 07 Jan, 08 Up to Jan, 08 Up to Jan, 07 Jan, 08 Up to Jan, 08 Up to Jan, 07

Group Single Premium 1.20 3.05 2.31 0 1 0 210 627 517

Individual Non-Single Premium 273.77 1532.75 689.56 82587 465952 291868

Group Single Premium 4.60 51.69 42.38 0 4 7 24428 307813 224631

statistics - life insurance

Individual Non-Single Premium 88.78 475.35 191.49 24000 157974 74318

Individual Single Premium 5.00 135.21 58.92 845 24466 12703

Group Single Premium 0.59 0.69 0.00 1 1 0 300 371 0

FIRST YEAR PREMIUM OF LIFE INSURERS UP TTO

Sl. PREMIUM POLICIES SUM ASSURED

G. **Grand Total (C+F) 16946.33 15375.02 4597888 4149145 6571.13 9602.36

* Excluding rider figures.

irda journal 6 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 8 3/7/2008, 3:29 AM

FIRST YEAR PREMIUM OF LIFE INSURERS UP TTO

Sl. PREMIUM POLICIES SUM ASSURED

* Excluding rider figures.

irda journal 7 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 9 3/7/2008, 3:29 AM

FIRST YEAR PREMIUM OF LIFE INSURERS UP TO THE MONTH OF DECEMBER 2007

* Excluding rider figures.

irda journal 8 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 10 3/7/2008, 3:29 AM

FIRST YEAR PREMIUM OF LIFE INSURERS UP TO THE MONTH OF DECEMBER 2007

* Excluding rider figures.

irda journal 9 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 11 3/7/2008, 3:29 AM

The New Face of

Life Insurance Products

irda journal 10 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 12 3/7/2008, 3:29 AM

irda journal 11 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 13 3/7/2008, 3:29 AM

irda journal 12 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 14 3/7/2008, 3:29 AM

irda journal 13 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 15 3/7/2008, 3:29 AM

irda journal 14 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 16 3/7/2008, 3:29 AM

on unfamiliar routes also meet with - discipline in the marketplace, selective

irda journal 15 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 17 3/7/2008, 3:29 AM

Coverage in Marine Insurance

irda journal 16 Mar 2008

IRDA Journal (Vol 6 Iss 4).pmd 18 3/7/2008, 3:29 AM

How does one reconcile the apparent Resolution needed

irda journal 17 Mar 2008